Telefônica Brasil Cash Flow Statement

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

Millions BRL. 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	6,168	5,548	5,029	4,085	6,239
Depreciation & Amortization	12,468	11,861	13,390	10,806	10,414
Other Amortization	2,477	2,341	-	1,853	1,625
Asset Writedown & Restructuring Costs	-594.24	-405.09	-403.34	-708.48	-847.87
Loss (Gain) From Sale of Investments	-134.9	-	-	-	-358.44
Loss (Gain) on Equity Investments	18.23	4.35	10.71	23.74	-117.26
Provision & Write-off of Bad Debts	1,491	1,523	1,363	1,316	1,436
Other Operating Activities	1,800	816.07	519.89	1,876	1,968
Change in Accounts Receivable	-2,447	-1,662	-1,943	-854.32	-1,405
Change in Inventory	-423.2	-311.24	-100.84	-179.61	-45.17
Change in Accounts Payable	507.95	1,097	800.25	231.89	1,046
Change in Income Taxes	1,101	443.77	2,045	1,505	-1,762
Change in Other Net Operating Assets	-1,714	-1,380	-1,925	-1,013	-119.28
Operating Cash Flow	20,717	19,877	18,786	18,942	18,073
Operating Cash Flow Growth	4.23%	5.81%	-0.82%	4.81%	-6.56%
Capital Expenditures	-9,458	-9,324	-8,811	-9,894	-9,295
Sale of Property, Plant & Equipment	436.54	376.59	434.45	778	760.25
Cash Acquisitions	-1,065	-168.52	-63.8	-4,907	-
Investment in Securities	-88.71	155.76	196.06	232.06	244.14
Other Investing Activities	156.96	45.51	393.65	-411.68	163.32
Investing Cash Flow	-10,018	-8,915	-7,851	-14,203	-8,128
Long-Term Debt Issued	20	83.08	30.03	4,500	-
Long-Term Debt Repaid	-5,232	-3,495	-4,452	-6,986	-3,901
Net Debt Issued (Repaid)	-5,212	-3,412	-4,422	-2,486	-3,901
Repurchase of Common Stock	-3,819	-2,761	-488.76	-607.44	-496
Common Dividends Paid	-2,187	-2,532	-3,833	-5,709	-4,901
Other Financing Activities	859.52	76.26	-107.2	-110.62	40.04
Financing Cash Flow	-10,359	-8,629	-8,850	-8,914	-9,258
Net Cash Flow	341.24	2,333	2,084	-4,175	686.4
Free Cash Flow	11,260	10,552	9,975	9,048	8,777
Free Cash Flow Growth	6.70%	5.79%	10.24%	3.08%	-20.59%
Free Cash Flow Margin	18.89%	18.90%	19.14%	18.83%	19.93%
Free Cash Flow Per Share	3.49	3.21	3.01	2.71	2.61
Cash Interest Paid	2,309	2,078	2,054	1,532	853.81
Cash Income Tax Paid	896.21	862.06	901.69	1,114	97.38
Levered Free Cash Flow	10,239	9,774	7,950	5,820	6,249
Unlevered Free Cash Flow	12,187	11,473	9,608	7,192	6,826
Change in Working Capital	-2,975	-1,812	-1,123	-309.87	-2,285

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