Cash Flow Statement

Currency: USD

	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
Operating Cash Flow
Net Income	28	31	107	174	283	273	398	315	227	152	(55)	(158)	(211)
Depreciation & Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	25	20	(55)	(121)	(227)	(211)	(329)	(241)	(151)	(72)	136	240	294
Cash Interest Paid	21	21	20	21	22	22	24	25	26	29	33	36	39
Change in Working Capital	(1)	(3)	3	1	2	1	3	5	13	1	1	0	(1)
Cash from Operating Activities	51 N/A	49 -5%	54 +12%	53 -2%	58 +10%	64 +9%	72 +12%	80 +11%	90 +13%	81 -10%	82 +2%	82 +0%	83 +1%
Investing Cash Flow
Other Items	(38)	(91)	(131)	(210)	(434)	(330)	(308)	(147)	(27)	(31)	(38)	(31)	(33)
Cash from Investing Activities	(38) N/A	(91) -140%	(131) -45%	(210) -60%	(434) -107%	(330) +24%	(308) +7%	(147) +52%	(27) +82%	(31) -17%	(38) -23%	(31) +18%	(33) -7%
Financing Cash Flow
Net Issuance of Common Stock	(3)	66	66	66	65	(1)	109	109	110	110	(0)	(0)	(38)
Net Issuance of Debt	7	24	63	145	370	328	185	20	(102)	(93)	31	21	46
Cash Paid for Dividends	(23)	(23)	(24)	(25)	(25)	(26)	(27)	(28)	(29)	(30)	(30)	(30)	(29)
Other	(26)	(25)	(27)	(31)	(32)	(32)	(31)	(30)	(41)	(42)	(48)	(48)	(28)
Cash from Financing Activities	(45) N/A	42 N/A	78 +85%	156 +100%	377 +143%	270 -29%	237 -12%	71 -70%	(63) N/A	(54) +13%	(47) +15%	(57) -22%	(50) +11%
Change in Cash
Net Change in Cash	(32) N/A	(0) +99%	1 N/A	(1) N/A	2 N/A	3 +117%	1 -84%	4 +548%	0 -90%	(5) N/A	(2) +51%	(5) -123%	(0) +92%
Free Cash Flow
Free Cash Flow	51 N/A	49 -5%	54 +12%	53 -2%	58 +10%	64 +9%	72 +12%	80 +11%	90 +13%	81 -10%	82 +2%	82 +0%	83 +1%

BSR Real Estate Investment Trust
TSX:HOM.U