Ladder Capital Corp (LADR)
Ladder Capital Corp engages in three core business activities. Its Lending division originates first mortgage loans, comprising "conduit" loans backed by stable, revenue-generating commercial real estate, and "balance sheet" loans for commercial properties undergoing significant change, such as lease-up, sale preparation, or rehabilitation. This segment also deploys capital into various structured real estate debt instruments, including note purchase financings, subordinated debt, and mezzanine financing. The Securities division focuses its investments on commercial mortgage-backed securities (CMBS), U.S. Agency Securities, corporate bonds, and equity holdings. Through its Real Estate division, the company acquires and maintains a diverse portfolio of commercial and residential properties, which spans office buildings, student housing, hotels, industrial sites, retail centers, and condominium units. Established in 2008 and headquartered in New York City, Ladder Capital Corp is recognized as a real estate investment trust (REIT) for federal income tax purposes, enabling it to generally bypass federal corporate income taxes by distributing at least 90% of its taxable earnings to shareholders.
Sector: Real Estate Investment Trusts
Industry: REIT - Mortgage
Ladder Capital Corp
NYSE:LADRFinancial Services · Financial - Mortgages
-0.21%$9.29
AH Close$9.29+0.00%vs close
AH Close$9.29+0.00%vs close
Mkt Cap$1.18B
Float110.82M
O/S126.87M
Inst Own64.0%
SI7.0%
Div Yield9.90%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$392.3M
Net Income$64.18M
Total Assets$5.15B
Free Cash Flow$87.02M
Debt & Equity
Debt 70%
Equity 30%
Total Debt$3.51B
Total Equity$1.48B
Shares Outstanding
Short Interest
Split History2 splits
- 1.0:1Forward splitDec 22, 20161 share → 1.0
- 1.1:1Forward splitDec 8, 20151 share → 1.1
Balance Sheet Details
Assets$5.15B
Liabilities$3.67B
Accounts Receivable$15.89M
Accounts Payable$0
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$116.3M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 |
| Revenue | $392.3M | $511.22M | $525.09M | $543.71M | $358.21M | $358.1M | $501.87M | $600.64M | $456.66M | $394.3M | $434.81M | $391.47M | $362.74M | $289.62M | $143.71M | $166.01M |
| YoY Growth | -23.3% | -2.6% | -3.4% | 51.8% | 0.0% | -28.6% | -16.4% | 31.5% | 15.8% | -9.3% | 11.1% | 7.9% | 25.2% | 101.5% | -13.4% | - |
| Cost of Revenue | $110.77M | $116.34M | $109.86M | $114.71M | $111.35M | $118.45M | $109.15M | $115.29M | $117.3M | $112.33M | $118.03M | $93.89M | $67.01M | $7.28M | $2.09M | $817K |
| Gross Profit | $281.54M | $394.88M | $415.23M | $429M | $246.87M | $239.65M | $392.72M | $485.35M | $339.36M | $281.97M | $316.78M | $297.58M | $295.73M | $282.34M | $141.62M | $165.19M |
| Gross Margin | 71.8% | 77.2% | 79.1% | 78.9% | 68.9% | 66.9% | 78.3% | 80.8% | 74.3% | 71.5% | 72.9% | 76.0% | 81.5% | 97.5% | 98.5% | 99.5% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other | $38.17M | $62.55M | $76.87M | $65.28M | $7.67M | $55.49M | $254.08M | $55.84M | $200.48M | $163.03M | $154.86M | $171.25M | $57.73M | $75.11M | $32.89M | $24.67M |
| Total Operating Expenses | $38.17M | $62.55M | $76.87M | $65.28M | $7.67M | $55.49M | $254.08M | $55.84M | $200.48M | $163.03M | $154.86M | $171.25M | $57.73M | $75.11M | $32.89M | $24.67M |
| Operating Income (EBIT) | $243.37M | $332.32M | $338.37M | $363.72M | $239.19M | $184.16M | $138.63M | $429.51M | $138.88M | $118.93M | $161.92M | $126.33M | $238M | $207.22M | $108.73M | $140.52M |
| Operating Margin | 62.0% | 65.0% | 64.4% | 66.9% | 66.8% | 51.4% | 27.6% | 71.5% | 30.4% | 30.2% | 37.2% | 32.3% | 65.6% | 71.6% | 75.7% | 84.6% |
| Interest Expense | $174.92M | $221.54M | $245.1M | $195.6M | $182.95M | $227.47M | $204.35M | $194.29M | $146.12M | $120.83M | $113.3M | $77.57M | $48.74M | $36.44M | $35.84M | $48.87M |
| Interest Income | $266.89M | $358.63M | $407.28M | $293.52M | $176.1M | $239.85M | $330.24M | $344.82M | $263.67M | $236.37M | $241.54M | $187.32M | $121.58M | $136.2M | $133.3M | $129.3M |
| Other Income (Expense) | -$176.18M | -$221.43M | -$233.62M | -$193.51M | -$181.37M | -$203.4M | $1.01M | -$201.19M | -$5.28M | $1.11M | -$1.23M | -$2.1M | -$45.54M | -$35.18M | -$35.49M | -$48.87M |
| Income Before Tax (EBT) | $67.19M | $110.89M | $104.75M | $170.21M | $57.82M | -$19.25M | $139.65M | $228.32M | $133.59M | $120.04M | $160.69M | $124.23M | $192.46M | $172.04M | $73.24M | $91.64M |
| Income Tax Expense | $3.49M | $3.45M | $4.24M | $4.91M | $928K | -$9.79M | $2.65M | $6.64M | $7.71M | $6.32M | $14.56M | $26.6M | $3.73M | $2.58M | $1.51M | $600K |
| Net Income | $64.18M | $108.25M | $101.13M | $142.22M | $56.52M | -$14.45M | $122.64M | $180.01M | $95.28M | $66.73M | $73.82M | $31.56M | $189.83M | $169.5M | $71.72M | $91.04M |
| Net Income Margin | 16.4% | 21.2% | 19.3% | 26.2% | 15.8% | -4.0% | 24.4% | 30.0% | 20.9% | 16.9% | 17.0% | 8.1% | 52.3% | 58.5% | 49.9% | 54.8% |
| Supplementary Data | ||||||||||||||||
| EPS | 0.51 | 0.86 | 0.81 | 1.14 | 0.46 | -0.13 | 1.16 | 1.85 | 1.16 | 1.08 | 1.43 | 0.90 | 3.90 | 3.49 | 1.48 | 1.87 |
| Diluted EPS | 0.51 | 0.86 | 0.81 | 1.13 | 0.45 | -0.13 | 1.15 | 1.84 | 1.13 | 1.06 | 0.72 | 0.86 | 3.90 | 3.49 | 1.48 | 1.87 |
| Weighted Average OS | 125.48M | 125.58M | 124.67M | 124.30M | 123.76M | 111.11M | 105.46M | 97.23M | 81.90M | 62.00M | 51.70M | 49.30M | 48.61M | 48.61M | 48.61M | 48.61M |
| EBITDA | $274.1M | $364.76M | $377.96M | $396.73M | $276.68M | $245.07M | $381.15M | $462.83M | $319.25M | $280.21M | $312.81M | $230.9M | $263.58M | $212.12M | $110.12M | $140.93M |
| EBITDA Margin | 69.9% | 71.4% | 72.0% | 73.0% | 77.2% | 68.4% | 75.9% | 77.1% | 69.9% | 71.1% | 71.9% | 59.0% | 72.7% | 73.2% | 76.6% | 84.9% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 |
| Assets | |||||||||||||||
| Current Assets | |||||||||||||||
| Cash and Cash Equivalents | $37.95M | $1.32B | $1.02B | $609.08M | $548.74M | $1.25B | $58.17M | $67.88M | $76.67M | $44.62M | $108.96M | $76.22M | $78.74M | $45.18M | $84.35M |
| Short-Term Investments | $283.42M | $0 | $0 | $0 | $305.96M | $0 | $1.72B | $1.41B | $1.11B | $2.1B | $2.41B | $2.82B | $492.31M | $318.79M | $300.32M |
| Cash and Short-Term Investments | $321.37M | $1.32B | $1.02B | $611.12M | $854.7M | $1.25B | $1.78B | $423.26M | $363.27M | $188.53M | $721.71M | $2.89B | $571.05M | $363.97M | $384.67M |
| Accounts Receivable | $15.89M | $1.54B | $3.11B | $3.86B | $13.64M | $2.31B | $21.31M | $27.21M | $26.77M | $25.15M | $22.78M | $24.66M | $14.97M | $13.98M | $11.98M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | -$693K | -$6.7B | -$888K | -$5.02M | -$2.82M | -$423K | -$8.24M | -$5.69M | $0 |
| Other Current Assets | $14.89M | -$2.86B | -$3.09B | -$4.48B | $72.8M | $76.96M | $693K | $0 | $0 | $0 | $0 | $0 | $0 | $725.25M | $0 |
| Total Current Assets | $352.15M | $0 | $1.04B | $0 | $941.15M | $3.64B | $1.8B | $28.01M | $26.77M | $25.15M | $27.78M | $24.66M | $14.97M | $13.98M | $11.98M |
| Long-Term Assets | |||||||||||||||
| Property, Plant & Equipment Net | $0 | $636.49M | $665.39M | $635.17M | $1.1M | $894.14M | $949.65M | $893.73M | $903.45M | $715.75M | $727.98M | $768.99M | $624.22M | $380.02M | $28.83M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $116.3M | $50.62M | $61.05M | $64.96M | $142.34M | $91.16M | $161.2M | $162M | $189.49M | $154.69M | $139.5M | $127.36M | $83.91M | $33.42M | $5.16M |
| Long-Term Investments | $4.05B | $1.11B | $537.23M | $593.74M | $3.97B | $1.1B | $1.77B | $1.45B | $1.14B | $2.13B | $2.44B | $2.82B | $501.57M | $331.46M | $310.05M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $6.77M | $0 | $2.53M | $6.27B | $6.03B | $5.58B | $4.97M | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $636.27M | -$1.8B | $3.21B | -$1.29B | $791.86M | $147.13M | -$952.18M | -$2.51B | -$2.23B | -$3.01B | $2.58B | $2.11B | $2.28B | $1.88B | $2.31B |
| Total Long-Term Assets | $4.8B | $0 | $4.47B | $0 | $4.91B | $2.24B | $1.93B | $6.27B | $6.03B | $5.58B | $5.9B | $5.82B | $3.49B | $2.63B | $2.65B |
| Other Assets | $0 | $4.85B | $0 | $5.95B | $0 | $0 | $2.94B | -$28.01M | -$26.77M | -$25.15M | -$27.78M | -$24.66M | -$14.97M | -$13.98M | -$11.98M |
| Total Assets | $5.15B | $4.85B | $5.51B | $5.95B | $5.85B | $5.88B | $6.67B | $6.27B | $6.03B | $5.58B | $5.9B | $5.82B | $3.49B | $2.63B | $2.65B |
| Liabilities | |||||||||||||||
| Current Liabilities | |||||||||||||||
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $223K | $1.3M | $14K | $394K | $0 | $862K | $0 | $0 | $872K |
| Short-Term Debt | $907.01M | $62.74M | $374.67M | $481.46M | $444.58M | $671.34M | $0 | $0 | $0 | $25M | $0 | $82.75M | $325B | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $1.56M | $1.57M | $1.66M | $2.52M | $1.91M | $862K | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | -$1.59B | -$8.28B | -$7.83B | -$4.07B | $0 | -$91.99M | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 | $2.4M | $0 | $700K | $1.48B | -$122.61M | -$91.03M | -$118.79M | -$96.71M | -$175.6M | -$325.06B | -$19.27M | -$19.87M |
| Total Current Liabilities | $1.02B | $173.82M | $472.11M | $581.69M | $512.42M | $742.75M | $223K | $1.3M | $14K | $25.39M | $1.36B | $83.61M | $325B | $397.12M | $872K |
| Long-Term Liabilities | |||||||||||||||
| Long-Term Debt | $2.6B | $3.07B | $3.41B | $3.76B | $3.78B | $3.54B | $4.86B | $3.79B | $4.06B | $3.92B | $3.01B | $2.67B | $1.61B | $693.68M | $18.56M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $5.03B | $4.63B | $4.54B | $4.07B | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $9.05M | $0 | $4.67M | -$4.63B | $7.13M | -$4.07B | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $52.52M | $51.99M | $99.09M | $71.69M | $40.04M | $51.53M | -$4.86B | -$3.79B | -$4.06B | -$3.92B | -$3.01B | -$2.67B | -$1.61B | -$693.68M | -$18.56M |
| Total Long-Term Liabilities | $2.66B | $3.14B | $3.53B | $3.84B | $3.83B | $3.59B | $5.03B | $4.63B | $4.54B | $4.07B | $4.4B | $4.32B | $2.3B | $1.53B | $1.67B |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | -$223K | -$1.3M | -$14K | -$25.39M | -$1.36B | -$83.61M | -$325B | -$397.12M | -$872K |
| Total Liabilities | $3.67B | $3.31B | $3.98B | $4.42B | $4.34B | $4.33B | $5.03B | $4.63B | $4.54B | $4.07B | $4.4B | $4.32B | $2.3B | $1.53B | $1.67B |
| Stockholders' Equity | |||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.12B | $1.05B | $965.22M |
| Common Stock | $127K | $127K | $127K | $127K | $126K | $127K | $120K | $118K | $112K | $110K | $99K | $51K | $59.57M | $44.37M | $23.71M |
| Retained Earnings | -$260.08M | -$206.87M | -$197.88M | -$177M | -$207.8M | -$163.72M | -$35.75M | $11.34M | -$39.11M | -$11.15M | $60.62M | $44.19M | $0 | $0 | $0 |
| Comprehensive Income & Other | -$4.13M | -$4.87M | -$13.85M | -$21.01M | -$4.11M | -$10.46M | $4.22M | -$4.65M | -$212K | $1.36M | -$3.56M | $15.66M | $0 | $0 | $0 |
| Other Stockholders' Equity | $1.74B | $1.74B | $1.73B | $1.71B | $1.71B | $1.71B | $1.49B | $1.43B | $1.27B | $982.43M | $767.5M | $741.19M | $1.12B | $1.05B | $965.22M |
| Total Equity | $1.48B | $1.54B | $1.53B | $1.53B | $1.51B | $1.54B | $1.46B | $1.45B | $1.23B | $971.39M | $828.22M | $785.43M | $1.18B | $1.1B | $988.94M |
| Minority Interest | -$2.57M | -$2.09M | -$950K | $215K | $6.48M | $5.26M | $180.7M | $198.48M | $253.18M | $538.16M | $663.19M | $719.77M | $8.84M | $582K | $125K |
| Total Liabilities and Equity | $5.16B | $4.85B | $5.51B | $5.95B | $5.84B | $5.88B | $6.49B | $6.07B | $5.77B | $5.04B | $5.23B | $5.1B | $3.48B | $2.63B | $2.65B |
| Supplementary Data | |||||||||||||||
| Total Debt | $3.51B | $3.15B | $3.8B | $4.25B | $4.22B | $4.21B | $4.86B | $3.79B | $3.91B | $2.83B | $3.01B | $2.76B | $1.61B | $693.68M | $18.56M |
| Net Debt | $3.47B | $1.83B | $2.79B | $3.64B | $3.67B | $2.96B | $4.8B | $3.72B | $3.83B | $2.79B | $2.91B | $2.68B | $1.53B | $648.5M | -$65.79M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 |
| Operating Activities | ||||||||||||||||
| Net Income | $63.7M | $107.45M | $100.5M | $165.31M | $56.89M | -$9.46M | $137M | $221.68M | $125.88M | $113.72M | $146.13M | $97.63M | $188.73M | $169.45M | $71.73M | $91.04M |
| Depreciation & Amortization | $32M | $32.33M | $28.12M | $30.91M | $35.91M | $36.84M | $37.15M | $40.22M | $39.55M | $39.34M | $38.81M | $29.1M | $22.37M | $3.64M | $1.04M | $408K |
| Deferred Income Tax | $2.02M | $1.68M | $1.18M | -$505K | $271K | $94K | $4.81M | -$7.53M | $5.59M | $1.87M | $2.9M | -$7.17M | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $20.33M | $18.83M | $18.58M | $31.58M | $15.3M | $42.73M | $21.78M | $8.83M | $18.96M | $17.64M | $13.79M | $14.45M | $2.88M | $2.41M | $151K | $174K |
| Changes in Working Capital: | ||||||||||||||||
| Accounts Receivable | -$2.96M | $11.3M | $706K | -$11.29M | $649K | $4.89M | $5.56M | -$1.34M | -$1.44M | -$1.66M | $621K | -$9.69M | -$2.89M | -$2M | -$1.01M | -$1.31M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | -$16.42M | -$20.87M | $33.73M | $41.4M | $743K | -$42.14M | -$11.69M | $23.8M | -$7.85M | -$13.43M | -$14.52M | $4.68M | $39.99M | -$5.12M | $4.53M | $8.18M |
| Total Working Capital Change | -$19.38M | -$9.57M | $34.43M | $30.11M | $1.39M | -$37.25M | -$6.13M | $22.47M | -$9.29M | -$15.09M | -$13.9M | -$5.01M | $37.1M | -$7.12M | $3.51M | $6.87M |
| Other Non-Cash Items | -$11.65M | -$16.79M | -$2.21M | -$150.69M | -$30.03M | $78.98M | -$11.4M | -$85.23M | -$168.71M | $180.95M | -$226.04M | $79.68M | $224M | -$284.39M | $263.86M | -$329.77M |
| Net Cash from Operating | $87.02M | $133.92M | $180.6M | $106.71M | $79.74M | $111.94M | $183.21M | $200.43M | $11.98M | $338.43M | -$38.31M | $208.67M | $475.08M | -$116.01M | $340.3M | -$231.27M |
| Investing Activities | ||||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | -$7.59M | -$7.78M | -$5.64M | -$10.64M | -$8.38M | -$5.19M | -$115K | -$351K | -$1.32M | -$340K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$1.98B | -$912.29M | -$143.95M | -$97.27M | -$247.09M | -$440.81M | -$1.7B | -$775.96M | -$212.53M | -$988M | -$757.31M | -$2.16B | -$1.2B | -$435.06M | -$1B | -$1.15B |
| Sales of Investments | $947.72M | $312.76M | $254.2M | $195.75M | $609.68M | $1.09B | $1.36B | $453.48M | $1.22B | $1.29B | $1.11B | $954.9M | $584.91M | $1.23B | $954.4M | $827.98M |
| Other Investing Activities | -$579.25M | $1.53B | $683.48M | -$16.89M | -$1.01B | $896.72M | $223.61M | -$12.61M | -$1.3B | -$258.6M | -$311.34M | -$1.16B | -$468.14M | -$506.68M | -$282.71M | -$104.14M |
| Net Cash from Investing | -$1.61B | $932.76M | $793.5M | $81.59M | -$651.46M | $1.54B | -$126.59M | -$342.87M | -$306.63M | $36.28M | $34.65M | -$2.37B | -$1.08B | $288.11M | -$330.38M | -$423.72M |
| Financing Activities | ||||||||||||||||
| Debt Repaid | -$376.88M | $644.8M | $427.08M | -$13.71M | -$25.5M | $593.4M | -$379.98M | -$125.31M | -$570.07M | $329.23M | -$142.68M | -$1.98B | -$727.83M | -$675.14M | $135.45M | $623.98M |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $1K | $32M | $0 | $99.01M | $0 | $0 | $0 | $259.04M | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | -$11.75M | -$6.53M | -$2.48M | -$7.92M | -$9.01M | -$3.04M | -$637K | $0 | -$2.59M | -$4.65M | -$994K | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | -$117.41M | -$117.71M | -$116.42M | -$107.01M | -$100.55M | -$118.89M | -$144.53M | -$122.77M | -$100.08M | -$67.17M | -$39.93M | -$369K | -$93.64M | -$73.16M | -$43.98M | -$42.95M |
| Other Financing Activities | -$20.67M | -$27.55M | -$11.78M | -$49.02M | -$6.96M | -$42.35M | -$34.13M | -$43.34M | -$79.5M | -$47.02M | -$79.76M | -$78.8M | $98M | -$816.25M | -$90.52M | $1.24B |
| Net Cash from Financing | $227.04M | -$796.59M | -$557.77M | -$150.24M | -$91.02M | -$725.67M | $200.68M | $58.2M | $387.9M | -$448.08M | $22M | $2.16B | $640.35M | -$211.27M | -$12.56M | $568.72M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$1.29B | $270.1M | $416.34M | $38.06M | -$662.74M | $928.54M | $257.3M | -$84.23M | $93.25M | -$73.37M | $18.34M | -$2.52M | $33.56M | -$39.17M | -$2.64M | -$86.27M |
| Supplementary Data | ||||||||||||||||
| Operating Cash Flow | $87.02M | $133.92M | $180.6M | $106.71M | $79.74M | $111.94M | $183.21M | $200.43M | $11.98M | $338.43M | -$38.31M | $208.67M | $475.08M | -$116.01M | $340.3M | -$231.27M |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$351K | -$1.32M | -$340K |
| Free Cash Flow | $87.02M | $133.92M | $180.6M | $106.71M | $79.74M | $111.94M | $183.21M | $200.43M | $11.98M | $338.43M | -$38.31M | $208.67M | $475.08M | -$116.36M | $338.98M | -$231.61M |
| Cash at Beginning | $1.35B | $1.08B | $659.6M | $621.55M | $1.28B | $355.75M | $98.45M | $182.68M | $89.43M | $162.79M | $144.45M | $78.74M | $45.18M | $84.35M | $86.99M | $173.27M |
| Cash at End | $52.84M | $1.35B | $1.08B | $659.6M | $621.55M | $1.28B | $355.75M | $98.45M | $182.68M | $89.43M | $162.79M | $76.22M | $78.74M | $45.18M | $84.35M | $86.99M |