COPT Defense Properties
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $159.5M | $143.9M | $-74.3M | $178.8M | $81.6M | $97.4M | $191.7M | $72.3M |
| Depreciation & Amortization | $163.7M | $156.0M | $151.4M | $143.6M | $150.6M | $140.0M | $138.9M | $139.1M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | $4.6M | $4.7M | $8.0M | $8.7M | $15.6M |
| Stock-Based Compensation | $11.7M | $10.4M | $8.5M | $8.8M | $8.0M | $6.5M | $6.7M | $6.4M |
| Net Cash from Operating Activities | $309.9M | $331.0M | $276.3M | $265.8M | $249.1M | $238.4M | $228.6M | $180.5M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-289.7M | $-291.0M | $-169.6M | $-83.5M | $-203.0M | $-325.8M | $-138.0M | $-232.9M |
| Financing Activities | ||||||||
| Dividends Paid | $136.6M | $131.8M | $127.2M | $123.6M | $123.5M | $123.4M | $122.7M | $114.3M |
| Stock Repurchases | — | — | — | — | — | — | $2.1M | $1.7M |
| Net Cash from Financing Activities | $216.5M | $-169.7M | $46.3M | $-183.2M | $-50.9M | $91.3M | $-84.4M | $49.6M |
| Net Change in Cash | $236.7M | $-129.7M | $152.9M | $-807.0K | $-4.7M | $3.9M | $6.2M | $-2.9M |
| Free Cash Flow | — | — | — | — | — | — | — | — |