Copa Holdings, S.A.

CPA ·Industrials, Airlines, Panama
Financial Statements › Cash Flow Statement
Annual Quarterly

Cash Flow Statement

Line Item FY2017 FY2016 FY2015
Operating Activities
Net Income $362.6M $323.4M $-240.6M
Depreciation & Amortization — — —
Depreciation — — —
Amortization — — —
Stock-Based Compensation — — —
Net Cash from Operating Activities $835.5M $594.6M $316.9M
Investing Activities
Capital Expenditures $109.9M $88.3M $81.8M
Business Acquisitions — — —
Net Cash from Investing Activities $-578.2M $-179.9M $32.4M
Financing Activities
Dividends Paid — — —
Stock Repurchases — — $118.0M
Net Cash from Financing Activities $-312.9M $-248.6M $-357.5M
Net Change in Cash $-55.6M $166.1M $-8.2M
Free Cash Flow $725.6M $506.2M $235.1M
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