ARES COMMERCIAL REAL ESTATE CORPORATION
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-902.0K | $-35.0M | $-38.9M | $29.8M | $60.5M | $21.8M | $37.0M | $38.6M |
| Depreciation & Amortization | $8.5M | $4.8M | $1.0M | $0 | $825.0K | — | — | — |
| Depreciation | — | — | — | $0 | $825.0K | $892.0K | $667.0K | $0 |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $3.9M | $4.7M | $4.0M | $2.9M | $1.9M | $1.3M | $1.9M | $1.1M |
| Net Cash from Operating Activities | $21.4M | $35.5M | $46.8M | $57.2M | $48.4M | $31.8M | $32.5M | $39.2M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $148.1M | $427.9M | $127.5M | $193.2M | $-699.7M | $-81.9M | $-174.4M | $157.9M |
| Financing Activities | ||||||||
| Dividends Paid | $39.0M | $59.6M | $76.0M | $71.8M | $58.4M | $42.8M | $37.5M | $32.1M |
| Stock Repurchases | $0 | $0 | $4.6M | $0 | $0 | — | — | $0 |
| Net Cash from Financing Activities | $-168.6M | $-507.6M | $-205.1M | $-159.7M | $627.2M | $119.2M | $136.1M | $-214.4M |
| Net Change in Cash | $863.0K | $-44.2M | $-30.8M | $90.7M | $-24.2M | $69.1M | $-5.8M | $-17.3M |
| Free Cash Flow | — | — | — | — | — | — | — | — |