Fortis Cash Flow Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	1,965	1,961	1,828	1,710	1,514	1,405
Depreciation & Amortization	2,074	2,057	1,927	1,773	1,668	1,505
Other Adjustments	132	247	58	243	209	145
Change in Receivables	4	-	-	-	-	-
Changes in Inventories	14	-	-	-	-	-
Changes in Accounts Payable	61	-	-	-	-	-
Changes in Other Operating Activities	-361	-203	69	-181	-317	-148
Operating Cash Flow	3,952	4,062	3,882	3,545	3,074	2,907
Operating Cash Flow Growth	-8.67%	4.64%	9.51%	15.32%	5.75%	7.63%
Capital Expenditures	-5,962	-5,942	-5,012	-3,986	-3,587	-3,189
Sale of Property, Plant & Equipment	1,129	775	106	670	111	93
Purchases of Intangible Assets	-277	-292	-206	-183	-278	-197
Other Investing Activities	-374	102	-283	-243	-305	-195
Investing Cash Flow	-5,303	-5,357	-5,395	-3,742	-4,059	-3,488
Short-Term Debt Issued	11,066	10,790	8,593	7,091	6,630	5,197
Short-Term Debt Repaid	-11,261	-11,056	-8,055	-7,276	-6,381	-4,749
Net Short-Term Debt Issued (Repaid)	-195	-266	538	-185	249	448
Long-Term Debt Issued	2,472	2,687	3,124	2,810	3,067	1,324
Long-Term Debt Repaid	-231	-108	-1,718	-1,210	-1,526	-634
Net Long-Term Debt Issued (Repaid)	2,241	2,579	1,406	1,600	1,541	690
Issuance of Common Stock	53	60	46	43	53	60
Net Common Stock Issued (Repurchased)	53	60	46	43	53	60
Common Dividends Paid	-804	-788	-744	-701	-673	-608
Preferred Share Dividends Paid	-86	-85	-74	-67	-64	-63
Other Financing Activities	7	-39	-108	-77	-71	-76
Financing Cash Flow	1,216	1,461	1,064	613	1,035	451
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-16	-19	44	-	28	12
Net Cash Flow	-151	147	-405	416	78	-118
Free Cash Flow	-2,010	-1,880	-1,130	-441	-513	-282
FCF Margin	-16.43%	-15.45%	-9.82%	-3.83%	-4.65%	-2.98%
Free Cash Flow Per Share	-3.98	-3.73	-2.28	-0.91	-1.07	-0.60
Levered Free Cash Flow	-412	-61	534	527	884	537
Unlevered Free Cash Flow	-1,257	-1,179	-247.93	153.65	64.81	284.5

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