Highlands REIT Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2019 - 2015
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2019 - 2015
Net Income	-9.29	-1.01	-10.3	-7.66	-13.05	-33.59	Upgrade
Depreciation & Amortization	11.7	11.84	10.75	10.39	10.5	12.68	Upgrade
Other Amortization	0.6	0.72	0.46	0.16	0.45	0.68	Upgrade
Gain (Loss) on Sale of Assets	-	-6.87	-	0.01	-	-0.08	Upgrade
Asset Writedown	-	-	-	-	1.41	16.8	Upgrade
Stock-Based Compensation	1.91	1.44	1.54	1.47	3.85	2.56	Upgrade
Change in Accounts Receivable	-0.24	0.27	0.72	-0.69	0.49	0.12	Upgrade
Change in Accounts Payable	-0.7	-2.48	-0.79	1.56	-3.43	1.44	Upgrade
Change in Other Net Operating Assets	-0.09	-0.32	0.6	0.09	0.3	-2.7	Upgrade
Other Operating Activities	-1.08	-0.93	-0.7	-2.83	-0.31	-0.02	Upgrade
Operating Cash Flow	2.8	2.67	2.27	2.49	0.22	-2.11	Upgrade
Operating Cash Flow Growth	20.56%	17.63%	-8.98%	1048.85%	-	-	Upgrade
Acquisition of Real Estate Assets	-9.68	-5.65	-30.29	-2.62	-7.72	-10.18	Upgrade
Sale of Real Estate Assets	-	20.07	-	8.94	-	1.29	Upgrade
Net Sale / Acq. of Real Estate Assets	-9.68	14.43	-30.29	6.31	-7.72	-8.89	Upgrade
Investing Cash Flow	-10.44	13.84	-31.25	4.67	-9.04	-9.4	Upgrade
Long-Term Debt Issued	-	-	67.45	9.27	-	20	Upgrade
Long-Term Debt Repaid	-	-0.93	-18.25	-9.68	-21.08	-31.03	Upgrade
Net Debt Issued (Repaid)	-0.97	-0.93	49.2	-0.41	-21.08	-11.03	Upgrade
Repurchase of Common Stock	-2.73	-0.83	-25.89	-0.62	-1.73	-1.79	Upgrade
Other Financing Activities	-0.15	-0	-2.77	-0.22	-	-0.09	Upgrade
Net Cash Flow	-11.48	14.74	-8.43	5.91	-31.63	-24.42	Upgrade
Cash Interest Paid	6.69	6.93	4.27	2.53	2.87	3.89	Upgrade
Levered Free Cash Flow	-4.61	-3.4	-1.79	4.36	-3.75	3.3	Upgrade
Unlevered Free Cash Flow	-0.67	0.65	0.94	5.87	-2.16	5.42	Upgrade
Change in Working Capital	-1.04	-2.53	0.53	0.96	-2.64	-1.14	Upgrade

Source: S&P Capital IQ. Real Estate template. Financial Sources.