AMS:AD Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 28, 2025	Dec '24 Dec 29, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 2, 2022
Net Income	2,264	1,764	1,874	2,546	2,246
Depreciation & Amortization	3,733	3,706	3,844	3,668	3,068
Stock-Based Compensation	70	42	53	65	48
Other Adjustments	1,258	1,192	1,149	1,017	999
Change in Receivables	-91	-220	-205	-294	-43
Changes in Inventories	-158	-30	-88	-747	-283
Changes in Accounts Payable	558	143	243	583	580
Changes in Income Taxes Payable	-499	-470	-200	-397	-931
Changes in Other Operating Activities	-145	97	-204	-331	-216
Operating Cash Flow	6,989	6,224	6,466	6,110	5,468
Operating Cash Flow Growth	12.29%	-3.74%	5.83%	11.74%	-13.79%
Capital Expenditures	-2,564	-2,299	-2,434	-2,490	-2,371
Sale of Property, Plant & Equipment	82	250	136	288	82
Purchases of Investments	-87	-	-	-	-
Proceeds from Sale of Investments	-	-	125	-	-
Payments for Business Acquisitions	-1,197	-26	-34	-20	-529
Proceeds from Business Divestments	-52	21	-130	12	-5
Other Investing Activities	235	327	128	196	189
Investing Cash Flow	-3,581	-1,727	-2,209	-2,014	-2,634
Short-Term Debt Issued	-1,278	1,217	97	-93	90
Net Short-Term Debt Issued (Repaid)	-1,278	1,217	97	-93	90
Long-Term Debt Issued	499	1,594	500	-	848
Long-Term Debt Repaid	-623	-782	-291	-162	-427
Net Long-Term Debt Issued (Repaid)	-124	812	209	-162	421
Repurchase of Common Stock	-1,008	-1,000	-999	-997	-994
Net Common Stock Issued (Repurchased)	-1,008	-1,000	-999	-997	-994
Common Dividends Paid	-1,070	-1,037	-1,044	-979	-856
Other Financing Activities	-2,197	-1,974	-2,044	-1,957	-1,712
Financing Cash Flow	-5,677	-1,983	-3,781	-4,188	-3,052
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-342	168	-54	178	276
Net Cash Flow	-2,269	2,514	475	-92	-218
Free Cash Flow	4,425	3,925	4,032	3,620	3,097
Free Cash Flow Growth	12.74%	-2.65%	11.38%	16.89%	-15.93%
FCF Margin	4.79%	4.39%	4.55%	4.16%	4.10%
Free Cash Flow Per Share	4.89	4.21	4.17	3.62	3.00
Levered Free Cash Flow	1,787	4,940	3,341	2,577	2,604
Unlevered Free Cash Flow	3,673	3,328	3,443	3,217	2,467

Updated Dec 28, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.