
Artis Real Estate Investment Trust
TSX:AX.UN

Cash Flow Statement
Cash Flow Statement
Artis Real Estate Investment Trust
Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | ||||||||||||||||||||||||||||||||||||||||||
Net Income |
154
|
157
|
77
|
(176)
|
(124)
|
(150)
|
(50)
|
116
|
154
|
162
|
150
|
234
|
208
|
245
|
205
|
159
|
133
|
78
|
97
|
123
|
(14)
|
21
|
22
|
22
|
205
|
367
|
361
|
389
|
554
|
318
|
183
|
(5)
|
(265)
|
(330)
|
(374)
|
(332)
|
(316)
|
(231)
|
(105)
|
(47)
|
(29)
|
|
Depreciation & Amortization |
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
|
Change in Deffered Taxes |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
32
|
31
|
20
|
14
|
(22)
|
(25)
|
(16)
|
(6)
|
(4)
|
(1)
|
(0)
|
(3)
|
(2)
|
|
Other Non-Cash Items |
61
|
65
|
145
|
395
|
342
|
366
|
278
|
116
|
80
|
71
|
73
|
(5)
|
10
|
(36)
|
8
|
42
|
73
|
137
|
109
|
88
|
221
|
183
|
182
|
153
|
(30)
|
(196)
|
(197)
|
(207)
|
(410)
|
(183)
|
(44)
|
135
|
413
|
465
|
482
|
418
|
392
|
305
|
178
|
134
|
114
|
|
Cash Taxes Paid |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
2
|
2
|
1
|
1
|
1
|
1
|
1
|
2
|
2
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
0
|
0
|
1
|
1
|
|
Cash Interest Paid |
110
|
111
|
113
|
113
|
113
|
113
|
115
|
109
|
113
|
107
|
106
|
104
|
99
|
100
|
100
|
104
|
107
|
111
|
114
|
115
|
114
|
106
|
98
|
87
|
82
|
78
|
74
|
72
|
66
|
79
|
71
|
88
|
98
|
99
|
118
|
122
|
123
|
127
|
116
|
100
|
85
|
|
Change in Working Capital |
6
|
5
|
5
|
0
|
1
|
11
|
1
|
19
|
6
|
0
|
7
|
(16)
|
2
|
(0)
|
(1)
|
12
|
16
|
9
|
3
|
(12)
|
(23)
|
(15)
|
16
|
0
|
14
|
17
|
3
|
19
|
13
|
16
|
18
|
(4)
|
(7)
|
(16)
|
(28)
|
(1)
|
1
|
(10)
|
(12)
|
(5)
|
(8)
|
|
Cash from Operating Activities |
222
N/A
|
228
+3%
|
228
+0%
|
221
-3%
|
219
-1%
|
228
+4%
|
230
+1%
|
252
+9%
|
241
-4%
|
235
-3%
|
231
-2%
|
214
-7%
|
221
+3%
|
210
-5%
|
214
+2%
|
214
+0%
|
223
+4%
|
225
+1%
|
210
-6%
|
200
-5%
|
185
-8%
|
190
+3%
|
221
+17%
|
176
-20%
|
190
+8%
|
190
0%
|
169
-11%
|
202
+20%
|
190
-6%
|
183
-4%
|
178
-3%
|
141
-21%
|
120
-15%
|
95
-21%
|
66
-30%
|
80
+21%
|
74
-7%
|
64
-13%
|
63
-2%
|
80
+27%
|
77
-4%
|
|
Investing Cash Flow | ||||||||||||||||||||||||||||||||||||||||||
Capital Expenditures |
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(3)
|
(5)
|
(4)
|
(4)
|
(2)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(1)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
|
Other Items |
(256)
|
(152)
|
(180)
|
(96)
|
(95)
|
(200)
|
(178)
|
(32)
|
109
|
178
|
234
|
10
|
(129)
|
(25)
|
(129)
|
(158)
|
(183)
|
(198)
|
(88)
|
13
|
100
|
16
|
(28)
|
166
|
134
|
167
|
869
|
607
|
381
|
211
|
(534)
|
(289)
|
(26)
|
399
|
467
|
299
|
247
|
146
|
640
|
653
|
726
|
|
Cash from Investing Activities |
(258)
N/A
|
(153)
+41%
|
(181)
-18%
|
(97)
+47%
|
(96)
+1%
|
(201)
-109%
|
(179)
+11%
|
(32)
+82%
|
108
N/A
|
177
+64%
|
231
+30%
|
5
-98%
|
(133)
N/A
|
(29)
+78%
|
(131)
-349%
|
(158)
-21%
|
(183)
-16%
|
(199)
-9%
|
(90)
+55%
|
11
N/A
|
99
+784%
|
16
-84%
|
(28)
N/A
|
166
N/A
|
134
-19%
|
167
+25%
|
869
+420%
|
607
-30%
|
381
-37%
|
211
-45%
|
(534)
N/A
|
(289)
+46%
|
(26)
+91%
|
398
N/A
|
467
+17%
|
298
-36%
|
246
-18%
|
145
-41%
|
639
+340%
|
652
+2%
|
725
+11%
|
|
Financing Cash Flow | ||||||||||||||||||||||||||||||||||||||||||
Net Issuance of Common Stock |
141
|
32
|
33
|
34
|
32
|
142
|
142
|
143
|
138
|
20
|
11
|
3
|
25
|
25
|
25
|
(10)
|
(96)
|
(139)
|
(257)
|
(223)
|
(168)
|
(139)
|
(21)
|
(35)
|
(53)
|
(72)
|
(131)
|
(129)
|
(159)
|
(172)
|
(114)
|
(187)
|
(145)
|
(136)
|
(150)
|
(65)
|
(63)
|
(45)
|
(45)
|
(63)
|
(67)
|
|
Net Issuance of Debt |
14
|
(6)
|
23
|
15
|
(6)
|
88
|
(33)
|
(194)
|
(311)
|
(350)
|
(287)
|
(48)
|
32
|
96
|
63
|
160
|
223
|
183
|
275
|
88
|
(17)
|
(38)
|
(103)
|
(217)
|
(183)
|
(181)
|
(562)
|
(396)
|
(275)
|
(35)
|
461
|
316
|
187
|
(267)
|
(350)
|
(220)
|
(180)
|
(87)
|
(557)
|
(563)
|
(638)
|
|
Cash Paid for Dividends |
(165)
|
(167)
|
(166)
|
(167)
|
(169)
|
(168)
|
(172)
|
(178)
|
(184)
|
(188)
|
(187)
|
(185)
|
(181)
|
(183)
|
(184)
|
(181)
|
(159)
|
(137)
|
(115)
|
(98)
|
(98)
|
(96)
|
(94)
|
(98)
|
(97)
|
(99)
|
(100)
|
(98)
|
(142)
|
(140)
|
(137)
|
(176)
|
(138)
|
(136)
|
(135)
|
(93)
|
(83)
|
(89)
|
(88)
|
(104)
|
(103)
|
|
Cash from Financing Activities |
(10)
N/A
|
(140)
-1 361%
|
(110)
+22%
|
(118)
-8%
|
(143)
-21%
|
61
N/A
|
(63)
N/A
|
(230)
-264%
|
(356)
-55%
|
(518)
-45%
|
(463)
+10%
|
(230)
+50%
|
(125)
+46%
|
(62)
+50%
|
(97)
-57%
|
(31)
+68%
|
(32)
-4%
|
(94)
-193%
|
(97)
-3%
|
(233)
-140%
|
(283)
-21%
|
(273)
+4%
|
(218)
+20%
|
(350)
-61%
|
(333)
+5%
|
(352)
-6%
|
(792)
-125%
|
(623)
+21%
|
(576)
+8%
|
(347)
+40%
|
209
N/A
|
(47)
N/A
|
(96)
-107%
|
(539)
-461%
|
(635)
-18%
|
(378)
+40%
|
(327)
+14%
|
(221)
+33%
|
(691)
-213%
|
(730)
-6%
|
(808)
-11%
|
|
Change in Cash | ||||||||||||||||||||||||||||||||||||||||||
Effect of Foreign Exchange Rates |
(5)
|
1
|
11
|
11
|
6
|
4
|
(6)
|
(6)
|
(4)
|
(2)
|
(3)
|
(4)
|
(0)
|
3
|
(1)
|
6
|
3
|
(2)
|
2
|
(2)
|
1
|
2
|
0
|
0
|
(3)
|
(2)
|
(1)
|
(0)
|
(0)
|
1
|
3
|
3
|
3
|
1
|
(0)
|
(0)
|
0
|
1
|
(0)
|
2
|
2
|
|
Net Change in Cash |
(51)
N/A
|
(65)
-27%
|
(53)
+19%
|
17
N/A
|
(14)
N/A
|
93
N/A
|
(18)
N/A
|
(16)
+11%
|
(11)
+30%
|
(107)
-875%
|
(4)
+96%
|
(15)
-241%
|
(37)
-143%
|
122
N/A
|
(15)
N/A
|
30
N/A
|
10
-67%
|
(70)
N/A
|
26
N/A
|
(24)
N/A
|
2
N/A
|
(66)
N/A
|
(24)
+63%
|
(8)
+68%
|
(12)
-56%
|
3
N/A
|
245
+8 519%
|
187
-24%
|
(5)
N/A
|
48
N/A
|
(144)
N/A
|
(192)
-34%
|
1
N/A
|
(45)
N/A
|
(102)
-128%
|
(0)
+100%
|
(7)
-2 789%
|
(10)
-52%
|
12
N/A
|
4
-67%
|
(4)
N/A
|
|
Free Cash Flow | ||||||||||||||||||||||||||||||||||||||||||
Free Cash Flow |
220
N/A
|
226
+3%
|
227
+0%
|
220
-3%
|
219
-1%
|
227
+4%
|
230
+1%
|
251
+9%
|
240
-5%
|
233
-3%
|
227
-3%
|
209
-8%
|
217
+4%
|
205
-5%
|
212
+3%
|
213
+1%
|
222
+4%
|
223
+1%
|
208
-7%
|
198
-5%
|
184
-7%
|
189
+3%
|
221
+17%
|
176
-20%
|
190
+8%
|
190
0%
|
169
-11%
|
202
+20%
|
190
-6%
|
183
-4%
|
178
-3%
|
141
-21%
|
120
-15%
|
94
-21%
|
66
-30%
|
80
+21%
|
74
-8%
|
64
-13%
|
63
-2%
|
80
+27%
|
77
-4%
|