CDW Corporation 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	1,067	1,078	1,104	1,115	988.6
Depreciation & Amortization	-	275.3	270.7	290.6	191.2
Stock-Based Compensation	-	64.7	93.7	91.1	72.6
Provision & Write-off of Bad Debts	-	32.2	14.9	8.3	-5.4
Other Operating Activities	138.6	-10	-3.7	-2	-30.8
Change in Accounts Receivable	-	-559.4	-54.5	-34.8	-616.8
Change in Inventory	-	61.1	139	111.9	-151
Change in Accounts Payable	-	443.8	-55.4	-260	374.5
Change in Other Net Operating Assets	-	-108.2	89.7	16.3	-38.3
Operating Cash Flow	1,205	1,277	1,599	1,336	784.6
Operating Cash Flow Growth	-5.64%	-20.10%	19.67%	70.27%	-40.30%
Capital Expenditures	-117.1	-122.6	-148.2	-127.8	-100
Cash Acquisitions	-21.5	-323.9	-76.4	-36.7	-2,706
Investment in Securities	211.1	-211.1	-	-	36
Other Investing Activities	-2.3	-1.6	-5	-	-
Investing Cash Flow	70.2	-659.2	-229.6	-164.5	-2,770
Short-Term Debt Issued	-	-	-	84.6	-
Long-Term Debt Issued	-	1,492	207.6	2,301	5,537
Total Debt Issued	-	1,492	207.6	2,386	5,537
Short-Term Debt Repaid	-2.6	-75.7	-23.7	-	-161.8
Long-Term Debt Repaid	-	-1,293	-493.1	-3,236	-2,797
Total Debt Repaid	-2.6	-1,369	-516.8	-3,236	-2,959
Net Debt Issued (Repaid)	-2.6	123.1	-309.2	-849.5	2,579
Issuance of Common Stock	-	47	49.3	30.2	69.9
Repurchase of Common Stock	-	-538.2	-540	-23.1	-1,529
Common Dividends Paid	-	-332.1	-321.5	-282.6	-234.8
Other Financing Activities	-1,182	13.3	22.7	22.9	-52.1
Financing Cash Flow	-1,185	-686.9	-1,099	-1,102	832.8
Foreign Exchange Rate Adjustments	20.3	-12.2	3.1	-12.2	0.1
Net Cash Flow	111.2	-81	273.5	57.1	-1,152
Free Cash Flow	1,088	1,155	1,451	1,208	684.6
Free Cash Flow Growth	-5.77%	-20.39%	20.06%	76.47%	-40.79%
Free Cash Flow Margin	4.85%	5.50%	6.79%	5.09%	3.29%
Free Cash Flow Per Share	8.24	8.54	10.64	8.82	4.87
Cash Interest Paid	234.3	217.5	233.2	224.3	134.3
Cash Income Tax Paid	326	398.6	401.4	362.2	351
Levered Free Cash Flow	683.71	1,079	1,312	988.89	537.64
Unlevered Free Cash Flow	825.84	1,213	1,453	1,136	631.95
Change in Working Capital	-	-162.7	118.8	-166.6	-431.6

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