Cash Flow Statement

Currency: USD

	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023
Operating Cash Flow
Net Income	53	479	792	1 023	1 016	970	559	348	1 055	689
Depreciation & Amortization	(8)	320	329	332	341	351	362	373	361	343
Stock-Based Compensation	0	7	0	0	0	0	0	0	0	0
Other Non-Cash Items	(56)	(424)	(726)	(907)	(942)	(906)	(515)	(324)	(1 018)	(638)
Cash Taxes Paid	(3)	7	9	5	5	6	(5)	(4)	(9)	6
Cash Interest Paid	0	130	0	0	0	114	0	0	0	128
Change in Working Capital	(24)	(42)	(38)	(8)	37	5	31	6	(28)	(24)
Cash from Operating Activities	(35) N/A	333 N/A	357 +7%	441 +24%	452 +3%	421 -7%	437 +4%	402 -8%	371 -8%	370 0%
Investing Cash Flow
Capital Expenditures	(85)	(544)	(544)	(806)	(1 192)	(1 068)	(1 242)	(770)	(538)	(536)
Other Items	190	1 022	1 576	2 059	2 174	1 718	1 188	618	666	223
Cash from Investing Activities	105 N/A	478 +354%	1 032 +116%	1 253 +21%	982 -22%	650 -34%	(54) N/A	(153) -181%	127 N/A	(313) N/A
Financing Cash Flow
Net Issuance of Common Stock	352	343	0	(125)	(171)	(317)	0	(192)	(223)	(124)
Net Issuance of Debt	(49)	(656)	(1 198)	(1 079)	(766)	(186)	294	318	82	214
Cash Paid for Dividends	(18)	(270)	(276)	(279)	(280)	(278)	(274)	(271)	(267)	(266)
Other	(425)	(209)	(229)	(190)	(199)	(82)	(74)	(76)	(70)	(65)
Cash from Financing Activities	(139) N/A	(792) -468%	(1 360) -72%	(1 673) -23%	(1 416) +15%	(862) +39%	(371) +57%	(220) +41%	(479) -118%	(241) +50%
Change in Cash
Net Change in Cash	(69) N/A	19 N/A	28 +46%	20 -28%	18 -13%	209 +1 086%	11 -95%	29 +162%	20 -33%	(184) N/A
Free Cash Flow
Free Cash Flow	(120) N/A	(211) -76%	(188) +11%	(366) -95%	(741) -103%	(647) +13%	(806) -24%	(369) +54%	(168) +55%	(166) +1%

Apartment Income REIT Corp
NYSE:AIRC