Pizza Pizza Royalty Corp
TSX:PZA
Cash Flow Statement
Cash Flow Statement
Pizza Pizza Royalty Corp
| Jun-2006 | Sep-2006 | Dec-2006 | Mar-2007 | Jun-2007 | Sep-2007 | Dec-2007 | Mar-2008 | Jun-2008 | Sep-2008 | Dec-2008 | Mar-2009 | Jun-2009 | Sep-2009 | Dec-2009 | Mar-2010 | Jun-2010 | Sep-2010 | Dec-2010 | Mar-2011 | Jun-2011 | Sep-2011 | Dec-2011 | Mar-2012 | Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | 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 | Jun-2025 | Sep-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income |
5
|
6
|
16
|
17
|
8
|
4
|
10
|
11
|
24
|
29
|
24
|
25
|
21
|
21
|
20
|
18
|
22
|
16
|
9
|
4
|
(1)
|
9
|
12
|
10
|
4
|
(7)
|
8
|
17
|
25
|
34
|
24
|
24
|
24
|
25
|
25
|
25
|
25
|
25
|
25
|
25
|
27
|
27
|
27
|
27
|
27
|
27
|
27
|
27
|
27
|
27
|
27
|
27
|
27
|
27
|
27
|
27
|
26
|
26
|
24
|
23
|
23
|
23
|
24
|
25
|
26
|
27
|
28
|
29
|
30
|
30
|
31
|
32
|
32
|
31
|
31
|
31
|
31
|
31
|
|
| Change in Deffered Taxes |
0
|
0
|
0
|
0
|
9
|
13
|
8
|
9
|
(3)
|
(7)
|
(2)
|
(3)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
1
|
2
|
2
|
3
|
3
|
4
|
4
|
(2)
|
(2)
|
(4)
|
(4)
|
2
|
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
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Other Non-Cash Items |
8
|
9
|
(1)
|
(2)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(1)
|
(1)
|
0
|
1
|
1
|
(3)
|
3
|
10
|
14
|
18
|
5
|
1
|
3
|
8
|
20
|
11
|
5
|
(1)
|
(6)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
1
|
1
|
1
|
1
|
(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
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Cash Taxes Paid |
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
|
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
|
4
|
6
|
7
|
8
|
5
|
5
|
5
|
5
|
5
|
5
|
5
|
5
|
5
|
5
|
6
|
7
|
7
|
7
|
7
|
7
|
8
|
8
|
7
|
7
|
7
|
|
| Cash Interest Paid |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
2
|
3
|
3
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
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 Working Capital |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
2
|
3
|
(1)
|
(2)
|
(3)
|
(4)
|
(1)
|
(0)
|
0
|
0
|
0
|
(0)
|
0
|
(0)
|
(1)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
1
|
0
|
0
|
0
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
1
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(1)
|
0
|
1
|
0
|
|
| Cash from Operating Activities |
13
N/A
|
15
+12%
|
15
+1%
|
15
+1%
|
15
+1%
|
16
+4%
|
17
+7%
|
18
+6%
|
19
+6%
|
20
+3%
|
20
+1%
|
20
+0%
|
20
+1%
|
20
N/A
|
20
0%
|
20
-2%
|
19
-2%
|
19
-1%
|
19
+0%
|
19
0%
|
20
+2%
|
19
-5%
|
19
+1%
|
15
-20%
|
14
-6%
|
14
0%
|
13
-7%
|
19
+43%
|
21
+13%
|
23
+10%
|
25
+9%
|
25
+0%
|
25
-1%
|
26
+2%
|
26
+1%
|
26
-1%
|
27
+4%
|
27
+1%
|
27
+0%
|
27
+0%
|
27
-1%
|
27
+0%
|
27
+1%
|
28
+3%
|
28
+0%
|
28
0%
|
28
0%
|
28
0%
|
28
+1%
|
28
0%
|
28
-1%
|
28
0%
|
28
0%
|
28
+1%
|
28
+1%
|
29
+1%
|
27
-6%
|
26
-3%
|
25
-4%
|
24
-6%
|
24
+2%
|
24
-1%
|
25
+3%
|
25
+3%
|
27
+5%
|
28
+5%
|
29
+4%
|
29
+1%
|
30
+2%
|
31
+3%
|
31
+2%
|
32
+1%
|
32
+1%
|
31
-2%
|
31
-2%
|
32
+3%
|
32
+2%
|
32
-2%
|
|
| Investing Cash Flow | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Expenditures |
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
|
0
|
0
|
0
|
(1)
|
(1)
|
(1)
|
(1)
|
(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
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Other Items |
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
|
0
|
0
|
0
|
1
|
1
|
1
|
1
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
0
|
0
|
(1)
|
(1)
|
(1)
|
(1)
|
0
|
0
|
(3)
|
(3)
|
(3)
|
(3)
|
0
|
0
|
0
|
2
|
0
|
1
|
0
|
(1)
|
3
|
|
| Cash from Investing Activities |
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
(0)
N/A
|
(0)
N/A
|
(0)
N/A
|
(0)
N/A
|
(0)
+71%
|
(0)
N/A
|
(0)
N/A
|
(0)
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
1
N/A
|
0
N/A
|
0
N/A
|
(1)
N/A
|
(1)
-67%
|
(1)
+40%
|
(1)
N/A
|
0
N/A
|
0
N/A
|
(3)
N/A
|
(3)
N/A
|
(3)
N/A
|
(3)
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
2
N/A
|
0
N/A
|
1
N/A
|
0
N/A
|
(1)
N/A
|
3
N/A
|
|
| Financing Cash Flow | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Issuance of Common Stock |
0
|
0
|
0
|
0
|
0
|
1
|
1
|
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
|
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
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Net Issuance of Debt |
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
|
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
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
|
| Cash Paid for Dividends |
(13)
|
(15)
|
(15)
|
(15)
|
(15)
|
(16)
|
(17)
|
(18)
|
(19)
|
(20)
|
(20)
|
(20)
|
(20)
|
(20)
|
(20)
|
(20)
|
(20)
|
(20)
|
(20)
|
(19)
|
(18)
|
(17)
|
(15)
|
(15)
|
(15)
|
(15)
|
(16)
|
(18)
|
(20)
|
(22)
|
(25)
|
(25)
|
(25)
|
(26)
|
(26)
|
(26)
|
(26)
|
(26)
|
(26)
|
(27)
|
(27)
|
(27)
|
(27)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(29)
|
(29)
|
(29)
|
(29)
|
(29)
|
(29)
|
(29)
|
(27)
|
(25)
|
(23)
|
(22)
|
(22)
|
(23)
|
(24)
|
(24)
|
(25)
|
(26)
|
(27)
|
(28)
|
(29)
|
(30)
|
(31)
|
(32)
|
(33)
|
(33)
|
(34)
|
(33)
|
(34)
|
(34)
|
|
| Other |
0
|
0
|
0
|
0
|
0
|
(1)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
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
|
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
|
|
| Cash from Financing Activities |
17
N/A
|
(15)
N/A
|
(15)
-1%
|
(15)
-1%
|
(15)
-1%
|
(16)
-4%
|
(17)
-7%
|
(18)
-6%
|
(19)
-6%
|
(20)
-3%
|
(20)
-1%
|
(20)
0%
|
(20)
-1%
|
(20)
N/A
|
(20)
+0%
|
(20)
N/A
|
(20)
N/A
|
(20)
N/A
|
(20)
N/A
|
(19)
+6%
|
(18)
+7%
|
(15)
+14%
|
(14)
+7%
|
(14)
N/A
|
(14)
0%
|
(16)
-9%
|
(16)
+1%
|
(18)
-14%
|
(20)
-13%
|
(22)
-11%
|
(25)
-11%
|
(25)
-2%
|
(25)
-1%
|
(26)
-1%
|
(26)
-1%
|
(26)
0%
|
(26)
0%
|
(26)
0%
|
(26)
-1%
|
(27)
-1%
|
(27)
-1%
|
(27)
-1%
|
(27)
-1%
|
(28)
-1%
|
(28)
-1%
|
(28)
0%
|
(28)
0%
|
(28)
-1%
|
(28)
0%
|
(29)
0%
|
(29)
0%
|
(29)
+0%
|
(29)
0%
|
(29)
0%
|
(29)
0%
|
(29)
-1%
|
(27)
+6%
|
(25)
+8%
|
(23)
+7%
|
(22)
+7%
|
(22)
-1%
|
(23)
-4%
|
(24)
-4%
|
(24)
-3%
|
(25)
-4%
|
(26)
-4%
|
(27)
-3%
|
(28)
-3%
|
(29)
-3%
|
(30)
-3%
|
(31)
-3%
|
(32)
-4%
|
(33)
-2%
|
(33)
-1%
|
(34)
-1%
|
(33)
+0%
|
(34)
0%
|
(34)
-1%
|
|
| Change in Cash | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Effect of Foreign Exchange Rates |
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
|
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
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Net Change in Cash |
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
(0)
N/A
|
(1)
-112%
|
(1)
-12%
|
(1)
+7%
|
0
N/A
|
2
+667%
|
3
+77%
|
5
+38%
|
1
-85%
|
(0)
N/A
|
(2)
-523%
|
(3)
-56%
|
1
N/A
|
1
+30%
|
1
-7%
|
1
-15%
|
0
-52%
|
(0)
N/A
|
0
N/A
|
0
+300%
|
(0)
N/A
|
1
N/A
|
1
+43%
|
1
-5%
|
1
-33%
|
(0)
N/A
|
(0)
-2 100%
|
(0)
+55%
|
0
N/A
|
0
-43%
|
0
-36%
|
(0)
N/A
|
(0)
-3 000%
|
(0)
+19%
|
(0)
-96%
|
(1)
-96%
|
(1)
-6%
|
(1)
-17%
|
(1)
+28%
|
(1)
+27%
|
(0)
+24%
|
(0)
+88%
|
1
N/A
|
2
+95%
|
1
-31%
|
1
-5%
|
1
-51%
|
0
-26%
|
1
+173%
|
1
+15%
|
(1)
N/A
|
(1)
+17%
|
(1)
-98%
|
(2)
-14%
|
1
N/A
|
1
-40%
|
(0)
N/A
|
1
N/A
|
(2)
N/A
|
(2)
+2%
|
(1)
+57%
|
(2)
-149%
|
1
N/A
|
|
| Free Cash Flow | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Free Cash Flow |
13
N/A
|
15
+12%
|
15
+1%
|
15
+1%
|
15
+1%
|
16
+4%
|
17
+7%
|
18
+6%
|
19
+6%
|
20
+3%
|
20
+1%
|
20
+0%
|
20
+1%
|
20
N/A
|
20
0%
|
20
-2%
|
19
-2%
|
19
-1%
|
19
+0%
|
19
0%
|
20
+2%
|
19
-5%
|
19
+1%
|
15
-20%
|
14
-6%
|
14
0%
|
13
-7%
|
19
+43%
|
21
+13%
|
23
+10%
|
25
+9%
|
24
-4%
|
24
-1%
|
25
+2%
|
25
+1%
|
26
+3%
|
27
+4%
|
27
+1%
|
27
+0%
|
27
+0%
|
27
-1%
|
27
+0%
|
27
+1%
|
28
+3%
|
28
+0%
|
28
0%
|
28
0%
|
28
0%
|
28
+1%
|
28
0%
|
28
-1%
|
28
0%
|
28
0%
|
28
+1%
|
28
+1%
|
29
+1%
|
27
-6%
|
26
-3%
|
25
-4%
|
24
-6%
|
24
+2%
|
24
-1%
|
25
+3%
|
25
+3%
|
27
+5%
|
28
+5%
|
29
+4%
|
29
+1%
|
30
+2%
|
31
+3%
|
31
+2%
|
32
+1%
|
32
+1%
|
31
-2%
|
31
-2%
|
32
+3%
|
32
+2%
|
32
-2%
|
|