ARES COMMERCIAL REAL ESTATE CORPORATION
Cash Flow Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Net Income | $30.4M | $44.9M | $43.3M | $24.6M | $13.8M | $186.0K |
| Depreciation & Amortization | — | — | — | — | — | — |
| Depreciation | $0 | $167.0K | $219.0K | $160.0K | $38.0K | — |
| Amortization | — | — | — | — | — | — |
| Stock-Based Compensation | $581.0K | $312.0K | $835.0K | $939.0K | $524.0K | $338.0K |
| Net Cash from Operating Activities | $31.3M | $-4.5M | $275.5M | $-222.9M | $25.4M | $2.0M |
| Investing Activities | ||||||
| Capital Expenditures | — | — | — | $823.0K | $41.0K | — |
| Business Acquisitions | — | $-90.0M | — | $0 | $58.3M | — |
| Net Cash from Investing Activities | $-405.8M | $-60.3M | $258.3M | — | — | — |
| Financing Activities | ||||||
| Dividends Paid | $30.5M | $29.4M | $28.6M | $28.6M | $18.6M | $1.6M |
| Stock Repurchases | $0 | $1.4M | $0 | $0 | — | — |
| Net Cash from Financing Activities | $355.6M | $73.1M | $-541.4M | — | — | — |
| Net Change in Cash | $-18.9M | $38.3M | $-7.6M | — | — | — |
| Free Cash Flow | — | — | — | $-223.7M | $25.4M | — |