Kenvue 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 28, 2025	Dec '24 Dec 29, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 2, 2022
Net Income	1,470	1,030	1,664	2,064	2,078
Depreciation & Amortization	458	477	627	644	731
Other Amortization	99	145	-	-	-
Asset Writedown & Restructuring Costs	23	578	-	12	-
Loss (Gain) From Sale of Investments	-	72	7	-1	-
Stock-Based Compensation	136	254	188	137	141
Other Operating Activities	-41	-216	-115	194	516
Change in Accounts Receivable	-112	-218	44	-142	-303
Change in Inventory	-12	182	349	-582	-77
Change in Accounts Payable	41	-536	1,454	35	330
Change in Income Taxes	-27	-61	-331	-5	-19
Change in Other Net Operating Assets	162	62	-719	169	-3,063
Operating Cash Flow	2,197	1,769	3,168	2,525	334
Operating Cash Flow Growth	24.19%	-44.16%	25.46%	655.99%	-90.17%
Capital Expenditures	-475	-440	-469	-375	-295
Sale of Property, Plant & Equipment	24	-	21	8	77
Other Investing Activities	15	15	-40	-23	47
Investing Cash Flow	-436	-425	-488	-390	-171
Short-Term Debt Issued	-	157	574	14	-
Long-Term Debt Issued	746	-	7,686	-	-
Total Debt Issued	746	157	8,260	14	-
Short-Term Debt Repaid	-146	-	-	-	-7
Long-Term Debt Repaid	-750	-	-	-	-
Total Debt Repaid	-896	-	-	-	-7
Net Debt Issued (Repaid)	-150	157	8,260	14	-7
Issuance of Common Stock	-	-	4,241	-	-
Repurchase of Common Stock	-197	-235	-7	-	-
Common Dividends Paid	-1,581	-1,552	-14,554	-	-
Other Financing Activities	91	65	-467	-1,597	7
Financing Cash Flow	-1,837	-1,565	-2,527	-1,583	-
Foreign Exchange Rate Adjustments	68	-91	-2	-61	-41
Net Cash Flow	-8	-312	151	491	122
Free Cash Flow	1,722	1,329	2,699	2,150	39
Free Cash Flow Growth	29.57%	-50.76%	25.54%	5412.82%	-98.77%
Free Cash Flow Margin	11.39%	8.60%	17.48%	14.38%	0.26%
Free Cash Flow Per Share	0.90	0.69	1.46	1.25	0.02
Cash Interest Paid	440	439	224	-	-
Cash Income Tax Paid	595	810	699	316	363
Levered Free Cash Flow	1,808	1,435	2,518	1,519	-1,168
Unlevered Free Cash Flow	2,077	1,704	2,742	1,519	-1,168
Change in Working Capital	52	-571	797	-525	-3,132

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