BMV:MRSH 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	4,160	4,060	3,756	3,050	3,143
Depreciation & Amortization	910	746	713	719	747
Loss (Gain) From Sale of Assets	-	-48	16	-88	-33
Loss (Gain) From Sale of Investments	-	-9	-5	-21	-61
Stock-Based Compensation	394	368	363	367	348
Other Operating Activities	346	260	323	450	118
Change in Accounts Receivable	-128	-467	-467	-492	-570
Change in Income Taxes	12	123	105	-54	-33
Change in Other Net Operating Assets	-402	-731	-546	-466	-143
Operating Cash Flow	5,292	4,302	4,258	3,465	3,516
Operating Cash Flow Growth	23.01%	1.03%	22.89%	-1.45%	3.96%
Capital Expenditures	-291	-316	-416	-470	-406
Cash Acquisitions	-652	-8,542	-976	-572	-859
Divestitures	22	89	-17	119	84
Investment in Securities	76	-53	-19	64	13
Other Investing Activities	-	1	11	9	4
Investing Cash Flow	-845	-8,821	-1,417	-850	-1,164
Short-Term Debt Issued	-	-	146	-	-
Long-Term Debt Issued	-	8,170	2,169	984	743
Total Debt Issued	-	8,170	2,315	984	743
Short-Term Debt Repaid	-	-	-146	-	-
Long-Term Debt Repaid	-519	-1,617	-266	-365	-1,016
Total Debt Repaid	-519	-1,617	-412	-365	-1,016
Net Debt Issued (Repaid)	-519	6,553	1,903	619	-273
Issuance of Common Stock	102	264	199	126	161
Repurchase of Common Stock	-2,012	-1,080	-1,298	-2,148	-1,260
Common Dividends Paid	-1,699	-1,499	-1,285	-1,125	-1,014
Other Financing Activities	-506	217	-638	1,482	1,089
Financing Cash Flow	-4,634	4,455	-1,119	-1,046	-1,297
Foreign Exchange Rate Adjustments	673	-414	328	-841	-355
Net Cash Flow	486	-478	2,050	728	700
Free Cash Flow	5,001	3,986	3,842	2,995	3,110
Free Cash Flow Growth	25.46%	3.75%	28.28%	-3.70%	2.50%
Free Cash Flow Margin	18.54%	16.30%	16.90%	14.46%	15.69%
Free Cash Flow Per Share	10.12	8.04	7.70	5.93	6.06
Cash Interest Paid	-	591	499	431	441
Cash Income Tax Paid	-	1,239	1,119	1,049	1,069
Levered Free Cash Flow	4,416	3,892	3,703	3,356	3,544
Unlevered Free Cash Flow	5,016	4,329	4,064	3,649	3,821
Change in Working Capital	-518	-1,075	-908	-1,012	-746

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