Willis Towers Watson Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period Ending	Sep '23 Sep 30, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018
Net Income	1,034	1,024	4,236	1,020	1,073	715
Depreciation & Amortization	524	567	650	770	729	747
Stock-Based Compensation	115	99	101	90	74	50
Other Adjustments	86	10	-2,477	-50	-5	-227
Change in Receivables	-197	-188	-134	72	-261	68
Changes in Other Operating Activities	-362	-700	-315	-128	-529	-65
Operating Cash Flow	1,198	812	2,061	1,774	1,081	1,288
Operating Cash Flow Growth	92.92%	-60.60%	16.18%	64.11%	-16.07%	49.42%
Capital Expenditures	-154	-138	-148	-223	-246	-268
Purchases of Intangible Assets	-82	-66	-53	-63	-59	-54
Purchases of Investments	-4.5	-	-	-	-	-
Proceeds from Sale of Investments	4	200	-200	-	-	-
Payments for Business Acquisitions	-9	-81	-47	-69	-1,329	-36
Proceeds from Business Divestments	26	-59	4,048	237	17	4
Other Investing Activities	-930.5	-29	-1,030	-42	3	13
Investing Cash Flow	-1,145	-173	2,570	-160	-1,614	-341
Net Short-Term Debt Issued (Repaid)	-	-	-	-	-131	-754
Long-Term Debt Issued	748	750	-	282	2,097	998
Long-Term Debt Repaid	-254	-585	-1,008	-327	-995	-170
Net Long-Term Debt Issued (Repaid)	494	165	-1,008	-45	1,102	828
Issuance of Common Stock	3	7	10	16	45	45
Repurchase of Common Stock	-1,244	-3,530	-1,627	-	-150	-602
Net Common Stock Issued (Repurchased)	-1,241	-3,523	-1,617	16	-105	-557
Common Dividends Paid	-354	-369	-374	-346	-329	-306
Other Financing Activities	38	282	-115	753	-82	-114
Financing Cash Flow	-1,064	-3,445	-3,114	378	455	-903
Effect of Exchange Rate Changes on Cash and Cash Equivalents	72	-164	-127	126	-	-41
Net Cash Flow	-1,011	-2,806	1,517	1,992	-78	44
Free Cash Flow	1,044	674	1,913	1,551	835	1,020
Free Cash Flow Growth	54.90%	-64.77%	23.34%	85.75%	-18.14%	81.49%
FCF Margin	11.24%	7.60%	21.26%	18.00%	9.98%	11.98%
Free Cash Flow Per Share	9.73	6.02	14.83	11.93	6.42	7.73
Levered Free Cash Flow	1,523	903	3,401	1,370	1,969	1,183
Unlevered Free Cash Flow	1,069	725.34	1,951	1,066	809.49	1,094

Updated Sep 30, 2023. Data Source: Fiscal.ai. Standard template. Financial Sources.