True North Commercial REIT
TSX:TNT.UN
Cash Flow Statement
Cash Flow Statement
True North Commercial REIT
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 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | ||||||||||||||||||||||||||||||||||||||||||
Net Income |
27
|
22
|
4
|
5
|
13
|
11
|
9
|
12
|
17
|
13
|
14
|
4
|
(0)
|
13
|
15
|
27
|
29
|
35
|
33
|
33
|
50
|
33
|
43
|
42
|
24
|
40
|
33
|
33
|
40
|
32
|
34
|
40
|
51
|
56
|
65
|
57
|
17
|
9
|
(6)
|
(57)
|
(41)
|
|
Other Non-Cash Items |
(18)
|
(12)
|
8
|
6
|
(0)
|
4
|
9
|
8
|
5
|
9
|
8
|
18
|
24
|
13
|
13
|
3
|
3
|
(0)
|
5
|
9
|
(3)
|
18
|
11
|
14
|
35
|
25
|
38
|
43
|
39
|
48
|
46
|
40
|
32
|
30
|
23
|
33
|
73
|
77
|
89
|
135
|
116
|
|
Cash Interest Paid |
3
|
4
|
4
|
5
|
5
|
6
|
7
|
8
|
9
|
9
|
9
|
9
|
9
|
9
|
10
|
10
|
11
|
12
|
13
|
15
|
17
|
18
|
20
|
21
|
22
|
24
|
25
|
28
|
29
|
29
|
29
|
29
|
27
|
27
|
27
|
27
|
29
|
30
|
31
|
32
|
33
|
|
Change in Working Capital |
(1)
|
1
|
0
|
1
|
(1)
|
(2)
|
1
|
(0)
|
(1)
|
0
|
0
|
1
|
1
|
1
|
1
|
1
|
(2)
|
2
|
3
|
2
|
7
|
3
|
(0)
|
0
|
(1)
|
4
|
9
|
13
|
12
|
7
|
4
|
(2)
|
(6)
|
(7)
|
(7)
|
(5)
|
14
|
14
|
11
|
9
|
(1)
|
|
Cash from Operating Activities |
9
N/A
|
11
+26%
|
11
N/A
|
12
+8%
|
12
-1%
|
13
+11%
|
18
+35%
|
19
+7%
|
21
+7%
|
22
+4%
|
22
+3%
|
23
+5%
|
24
+4%
|
26
+6%
|
28
+8%
|
30
+9%
|
30
N/A
|
37
+22%
|
41
+11%
|
44
+6%
|
53
+22%
|
53
0%
|
54
+1%
|
56
+5%
|
59
+4%
|
69
+18%
|
80
+16%
|
89
+11%
|
91
+3%
|
86
-6%
|
84
-3%
|
79
-6%
|
77
-2%
|
79
+2%
|
82
+4%
|
86
+5%
|
103
+21%
|
100
-4%
|
93
-6%
|
88
-6%
|
74
-16%
|
|
Investing Cash Flow | ||||||||||||||||||||||||||||||||||||||||||
Capital Expenditures |
0
|
(0)
|
(0)
|
(1)
|
0
|
(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
|
|
Other Items |
(139)
|
(17)
|
(17)
|
(51)
|
(94)
|
(100)
|
(95)
|
(89)
|
(33)
|
(26)
|
(32)
|
(28)
|
(94)
|
(95)
|
(151)
|
(126)
|
(221)
|
(234)
|
(267)
|
(357)
|
(234)
|
(249)
|
(161)
|
(65)
|
(418)
|
(398)
|
(399)
|
(407)
|
(19)
|
(23)
|
(13)
|
(10)
|
(32)
|
(23)
|
(34)
|
(79)
|
(73)
|
(66)
|
(64)
|
18
|
32
|
|
Cash from Investing Activities |
(139)
N/A
|
(17)
+88%
|
(17)
-4%
|
(53)
-204%
|
(94)
-79%
|
(99)
-6%
|
(95)
+5%
|
(88)
+7%
|
(33)
+63%
|
(26)
+19%
|
(32)
-21%
|
(28)
+12%
|
(94)
-237%
|
(95)
-1%
|
(151)
-59%
|
(126)
+17%
|
(221)
-75%
|
(234)
-6%
|
(267)
-14%
|
(357)
-33%
|
(234)
+35%
|
(249)
-7%
|
(161)
+35%
|
(65)
+59%
|
(418)
-539%
|
(398)
+5%
|
(399)
0%
|
(407)
-2%
|
(19)
+95%
|
(23)
-19%
|
(13)
+43%
|
(10)
+23%
|
(32)
-211%
|
(23)
+28%
|
(34)
-50%
|
(79)
-131%
|
(73)
+8%
|
(66)
+9%
|
(64)
+3%
|
18
N/A
|
32
+81%
|
|
Financing Cash Flow | ||||||||||||||||||||||||||||||||||||||||||
Net Issuance of Common Stock |
51
|
2
|
2
|
16
|
40
|
40
|
40
|
27
|
0
|
0
|
0
|
40
|
67
|
67
|
67
|
58
|
68
|
106
|
106
|
130
|
92
|
54
|
54
|
76
|
154
|
154
|
154
|
77
|
(0)
|
(0)
|
0
|
0
|
3
|
5
|
4
|
12
|
9
|
7
|
7
|
(1)
|
(3)
|
|
Net Issuance of Debt |
87
|
10
|
13
|
34
|
53
|
59
|
53
|
59
|
28
|
22
|
26
|
4
|
46
|
43
|
80
|
73
|
132
|
137
|
154
|
200
|
127
|
154
|
101
|
31
|
261
|
253
|
261
|
283
|
19
|
(7)
|
(28)
|
(21)
|
7
|
15
|
27
|
59
|
42
|
38
|
37
|
(36)
|
(40)
|
|
Cash Paid for Dividends |
(4)
|
(5)
|
(5)
|
(5)
|
(6)
|
(7)
|
(8)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(10)
|
(12)
|
(13)
|
(15)
|
(17)
|
(19)
|
(22)
|
(24)
|
(27)
|
(28)
|
(29)
|
(29)
|
(31)
|
(35)
|
(38)
|
(41)
|
(42)
|
(43)
|
(44)
|
(45)
|
(47)
|
(48)
|
(49)
|
(49)
|
(49)
|
(49)
|
(44)
|
(39)
|
(31)
|
|
Other |
(3)
|
(4)
|
(5)
|
(5)
|
(5)
|
(6)
|
(7)
|
(8)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(10)
|
(11)
|
(11)
|
(13)
|
(14)
|
(17)
|
(19)
|
(20)
|
(21)
|
(20)
|
(22)
|
(25)
|
(27)
|
(29)
|
(29)
|
(29)
|
(29)
|
(27)
|
(27)
|
(27)
|
(27)
|
(29)
|
(30)
|
(31)
|
(32)
|
(33)
|
|
Cash from Financing Activities |
131
N/A
|
3
-98%
|
5
+69%
|
41
+654%
|
83
+103%
|
87
+5%
|
78
-10%
|
68
-13%
|
10
-85%
|
4
-60%
|
9
+110%
|
26
+200%
|
94
+265%
|
89
-5%
|
125
+40%
|
105
-16%
|
173
+64%
|
213
+23%
|
226
+6%
|
292
+29%
|
175
-40%
|
160
-9%
|
106
-34%
|
57
-47%
|
363
+541%
|
350
-4%
|
351
+0%
|
292
-17%
|
(53)
N/A
|
(79)
-50%
|
(100)
-26%
|
(94)
+6%
|
(65)
+31%
|
(55)
+15%
|
(44)
+20%
|
(5)
+88%
|
(26)
-398%
|
(33)
-23%
|
(31)
+6%
|
(107)
-247%
|
(107)
+0%
|
|
Change in Cash | ||||||||||||||||||||||||||||||||||||||||||
Net Change in Cash |
0
N/A
|
(2)
N/A
|
(1)
+70%
|
0
N/A
|
0
+100%
|
1
+75%
|
2
+129%
|
(1)
N/A
|
(2)
-220%
|
(1)
+63%
|
(1)
-67%
|
21
N/A
|
24
+14%
|
20
-16%
|
2
-91%
|
10
+450%
|
(17)
N/A
|
16
N/A
|
(0)
N/A
|
(21)
-6 733%
|
(5)
+76%
|
(36)
-614%
|
(1)
+97%
|
48
N/A
|
3
-93%
|
21
+547%
|
33
+58%
|
(27)
N/A
|
19
N/A
|
(16)
N/A
|
(30)
-83%
|
(26)
+13%
|
(19)
+26%
|
1
N/A
|
4
+338%
|
2
-57%
|
4
+173%
|
1
-73%
|
(2)
N/A
|
(1)
+25%
|
(1)
+54%
|
|
Free Cash Flow | ||||||||||||||||||||||||||||||||||||||||||
Free Cash Flow |
9
N/A
|
11
+25%
|
11
-2%
|
11
N/A
|
12
+10%
|
12
+2%
|
18
+48%
|
19
+7%
|
21
+7%
|
22
+4%
|
22
+3%
|
23
+5%
|
24
+4%
|
26
+6%
|
28
+8%
|
30
+9%
|
30
N/A
|
37
+22%
|
41
+11%
|
44
+6%
|
53
+22%
|
53
0%
|
54
+1%
|
56
+5%
|
59
+4%
|
69
+18%
|
80
+16%
|
89
+11%
|
91
+3%
|
86
-6%
|
84
-3%
|
79
-6%
|
77
-2%
|
79
+2%
|
82
+4%
|
86
+5%
|
103
+21%
|
100
-4%
|
93
-6%
|
88
-6%
|
74
-16%
|