A.P. Møller - Mærsk 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	2,725	6,109	3,822	29,198	17,942
Depreciation & Amortization	6,711	6,178	6,238	5,960	4,592
Loss (Gain) From Sale of Assets	-138	-222	-523	-101	-96
Asset Writedown & Restructuring Costs	-40	42	377	226	352
Loss (Gain) on Equity Investments	-503	-369	-435	-132	-486
Other Operating Activities	339	-16	-403	971	1,213
Change in Accounts Receivable	505	-754	1,392	-1,018	-1,909
Change in Other Net Operating Assets	162	440	-825	-628	414
Operating Cash Flow	9,761	11,408	9,643	34,476	22,022
Operating Cash Flow Growth	-14.44%	18.30%	-72.03%	56.55%	181.32%
Capital Expenditures	-4,799	-4,201	-3,646	-4,163	-2,976
Sale of Property, Plant & Equipment	358	466	601	303	205
Cash Acquisitions	-674	-8	-140	-4,774	-815
Divestitures	7	28	953	2	3
Investment in Securities	5,185	-4,581	6,004	-13,314	-5,041
Other Investing Activities	418	371	305	327	282
Investing Cash Flow	495	-7,925	4,077	-21,619	-8,342
Long-Term Debt Issued	1,230	2,167	845	83	563
Long-Term Debt Repaid	-4,428	-3,756	-3,886	-3,880	-4,776
Net Debt Issued (Repaid)	-3,198	-1,589	-3,041	-3,797	-4,213
Issuance of Common Stock	37	9	24	31	22
Repurchase of Common Stock	-2,040	-556	-3,120	-2,738	-1,956
Common Dividends Paid	-2,547	-1,333	-10,876	-6,847	-1,017
Other Financing Activities	-124	-31	208	-784	-736
Financing Cash Flow	-7,872	-3,500	-16,805	-14,135	-7,900
Foreign Exchange Rate Adjustments	81	-170	-223	-249	-79
Net Cash Flow	2,465	-187	-3,308	-1,527	5,701
Free Cash Flow	4,962	7,207	5,997	30,313	19,046
Free Cash Flow Growth	-31.15%	20.18%	-80.22%	59.16%	192.75%
Free Cash Flow Margin	9.19%	12.99%	11.74%	37.18%	30.83%
Free Cash Flow Per Share	324.88	456.22	355.40	1655.75	995.59
Cash Interest Paid	1,010	966	796	989	774
Cash Income Tax Paid	629	658	681	801	582
Levered Free Cash Flow	3,452	7,767	3,680	18,793	12,463
Unlevered Free Cash Flow	4,097	8,347	4,169	19,415	13,026
Change in Working Capital	667	-314	567	-1,646	-1,495

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