Organon & Co. Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	501	864	1,023	917	1,351	2,160
Depreciation & Amortization	342	277	236	212	195	142
Asset Writedown & Restructuring Costs	15	81	8	116	111	-
Stock-Based Compensation	96	105	101	75	59	40
Other Operating Activities	96	-110	-414	-10	-258	59
Change in Accounts Receivable	260	383	-212	-123	-277	13
Change in Inventory	-125	-131	-230	-220	-138	34
Change in Accounts Payable	-39	-157	163	-237	663	37
Change in Income Taxes	-119	-65	16	7	-119	-118
Change in Other Net Operating Assets	-78	-308	108	121	573	-83
Operating Cash Flow	949	939	799	858	2,458	2,187
Operating Cash Flow Growth	0.32%	17.52%	-6.88%	-65.09%	12.39%	-20.96%
Capital Expenditures	-172	-175	-251	-196	-192	-255
Sale of Property, Plant & Equipment	3	4	1	7	7	5
Cash Acquisitions	-241	-166	-	-	-	-
Sale (Purchase) of Intangibles	-211	-176	-10	-231	-296	-
Other Investing Activities	-	-	-	-	-	-8
Investing Cash Flow	-621	-513	-260	-420	-481	-258
Short-Term Debt Issued	-	-	-	-	-	1,512
Long-Term Debt Issued	-	1,186	80	-	9,470	-
Total Debt Issued	880	1,186	80	-	9,470	1,512
Short-Term Debt Repaid	-	-	-	-	-1,512	-
Long-Term Debt Repaid	-	-1,197	-338	-108	-112	-
Total Debt Repaid	-1,158	-1,197	-338	-108	-1,624	-
Net Debt Issued (Repaid)	-278	-11	-258	-108	7,846	1,512
Repurchase of Common Stock	-18	-22	-17	-11	-	-
Common Dividends Paid	-158	-297	-294	-290	-145	-
Other Financing Activities	-2	-38	-	-24	-9,034	-3,687
Financing Cash Flow	-456	-368	-569	-433	-1,333	-2,175
Foreign Exchange Rate Adjustments	37	-76	17	-36	23	-3
Net Cash Flow	-91	-18	-13	-31	667	-249
Free Cash Flow	777	764	548	662	2,266	1,932
Free Cash Flow Growth	4.02%	39.42%	-17.22%	-70.79%	17.29%	-27.78%
Free Cash Flow Margin	12.33%	11.93%	8.75%	10.72%	35.95%	29.58%
Free Cash Flow Per Share	2.98	2.95	2.14	2.59	8.91	7.62
Cash Interest Paid	763	487	-	-	-	-
Levered Free Cash Flow	394	569	445.25	377.25	2,726	1,647
Unlevered Free Cash Flow	715.88	894	774.63	641	2,888	1,647
Change in Working Capital	-101	-278	-155	-452	702	-117

Source: S&P Global Market Intelligence. Standard template. Financial Sources.