DRH Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	101.43	48.05	86.34	109.33	-194.58
Depreciation & Amortization	111.72	112.12	109.91	107.48	103.19
Other Amortization	1.97	1.97	2.05	2.49	2.55
Gain (Loss) on Sale of Investments	-	-	2.03	-13.91	7.69
Asset Writedown	1.08	34.17	0.94	2.84	126.7
Stock-Based Compensation	7.42	12.02	8.77	7.79	8.74
Change in Accounts Payable	7.39	9.68	0.42	7.07	-2.49
Change in Other Net Operating Assets	2.76	-0.48	20.47	-33.6	-60.09
Other Operating Activities	9.88	6.88	6.63	16.75	5.99
Operating Cash Flow	243.65	224.41	237.56	206.24	-2.31
Operating Cash Flow Growth	8.57%	-5.54%	15.19%	-	-
Acquisition of Real Estate Assets	-81.56	-112.12	-120.85	-249.6	-276.54
Sale of Real Estate Assets	89.02	-	-	-	213.82
Net Sale / Acq. of Real Estate Assets	7.46	-112.12	-120.85	-249.6	-62.72
Other Investing Activities	-	-	-	1	0.52
Investing Cash Flow	7.46	-112.12	-120.85	-248.6	-62.2
Short-Term Debt Issued	60	-	-	-	-
Long-Term Debt Issued	300	-	-	910	205.5
Total Debt Issued	360	-	-	910	205.5
Short-Term Debt Repaid	-60	-	-	-	-
Long-Term Debt Repaid	-295.81	-82.38	-9.54	-792.77	-187.7
Total Debt Repaid	-355.81	-82.38	-9.54	-792.77	-187.7
Net Debt Issued (Repaid)	4.19	-82.38	-9.54	117.23	17.8
Repurchase of Common Stock	-42.17	-32.87	-5.46	-13.12	-1.48
Preferred Share Repurchases	-119	-	-	-	-
Common Dividends Paid	-98.31	-25.6	-31.91	-6.42	-0.12
Preferred Dividends Paid	-9.82	-9.82	-9.82	-9.82	-9.82
Total Dividends Paid	-108.13	-35.42	-41.73	-16.24	-9.94
Other Financing Activities	-11.57	-	-	-13.85	-1.22
Net Cash Flow	-25.57	-38.38	59.99	31.67	-59.34
Cash Interest Paid	58.75	63.78	60.36	47.55	42.49
Cash Income Tax Paid	0.53	4.65	2.67	6.63	1.63
Levered Free Cash Flow	276.57	145.05	198.52	138.07	47.37
Unlevered Free Cash Flow	313.85	184.03	237.14	159.51	67.98
Change in Working Capital	10.14	9.21	20.89	-26.53	-62.58

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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