SAUL CENTERS, INC.
Cash Flow Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $48.3M | $45.3M | $42.5M | $46.9M | $30.9M | $33.4M | $26.7M | $36.8M |
| Depreciation & Amortization | $45.7M | $44.4M | $43.3M | $41.2M | $49.1M | $40.2M | $35.4M | $28.6M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $1.7M | $1.6M | $1.4M | $1.2M | $1.1M | $952.0K | $948.0K | $951.0K |
| Net Cash from Operating Activities | $103.5M | $89.1M | $88.9M | $86.6M | $73.5M | $78.4M | $55.7M | $62.9M |
| Investing Activities | ||||||||
| Capital Expenditures | $120.0M | $91.0M | $69.6M | $90.3M | $26.4M | $54.6M | $202.5M | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-113.3M | $-86.3M | $-69.6M | $-83.6M | $-26.0M | $-46.9M | $-201.5M | $-98.2M |
| Financing Activities | ||||||||
| Dividends Paid | $44.6M | $39.5M | $35.6M | $32.3M | $29.2M | $28.1M | $27.1M | $26.2M |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $12.4M | $-4.5M | $-21.4M | $-8.1M | $-42.3M | $-31.7M | $145.2M | $27.7M |
| Net Change in Cash | $2.6M | $-1.7M | $-2.1M | $-5.2M | $5.2M | $-190.0K | $-645.0K | $-7.6M |
| Free Cash Flow | $-16.5M | $-2.0M | $19.3M | $-3.7M | $47.1M | $23.8M | $-146.8M | — |