The Carlyle Group Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-	1,020	-608.4	1,225	2,975
Depreciation & Amortization, Total	-	184.1	180.6	147.4	52
Gain (Loss) On Sale of Investments	-	-306	-370.8	-145.3	-695.1
Stock-Based Compensation	-	467.9	249.1	154	163.1
Change in Accounts Payable	-	58.8	-33.2	-14.3	105.7
Change in Other Net Operating Assets	-	-193.8	-146.6	-615.3	305.7
Other Operating Activities	-	-2,082	1,288	-1,062	-1,683
Operating Cash Flow	-	-759.5	204.9	-379.3	1,791
Capital Expenditures	-	-77.7	-66.6	-40.6	-41.4
Cash Acquisitions	-	-	-	-150.2	-
Sale (Purchase) of Intangibles	-	-	-	-618.4	-
Investment in Securities	-	0.1	23	-19.6	-
Investing Cash Flow	-	-77.6	-43.6	-828.8	-32.2
Short-Term Debt Issued	-	10.4	-	-	70
Long-Term Debt Issued	-	1,826	712.6	697.4	778.7
Total Debt Issued	-	1,836	712.6	697.4	848.7
Short-Term Debt Repaid	-	-10.4	-	-	-70
Long-Term Debt Repaid	-	-120.5	-17.2	-16.7	-492.4
Total Debt Repaid	-	-130.9	-17.2	-16.7	-562.4
Net Debt Issued (Repaid)	-	1,705	695.4	680.7	286.3
Issuance of Common Stock	-	-	-	38.9	4.8
Repurchase of Common Stock	-	-554.6	-203.5	-185.6	-161.8
Common Dividends Paid	-	-503	-497.7	-443.6	-355.8
Dividends Paid	-	-503	-497.7	-443.6	-355.8
Other Financing Activities	-	35.2	-93.8	24.4	-16
Financing Cash Flow	-	682.8	-99.6	114.8	-242.5
Foreign Exchange Rate Adjustments	-	-21.3	18.9	-20.3	-30.8
Net Cash Flow	-	-175.6	80.6	-1,114	1,486
Free Cash Flow	-	-837.2	138.3	-419.9	1,750
Free Cash Flow Margin	-	-17.66%	5.71%	-10.20%	20.61%
Free Cash Flow Per Share	-	-2.27	0.38	-1.15	4.83
Cash Interest Paid	-	93.6	91.8	91.5	92.7
Cash Income Tax Paid	-	218.8	250.1	402.1	402.6

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