EPA:MC Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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	11,783	11,621	12,565	16,059	15,109	12,797
Depreciation & Amortization	7,857	8,001	7,796	7,177	6,226	5,830
Other Adjustments	32	-172	488	-259	-483	-405
Changes in Other Operating Activities	-1,032	-576	-1,925	-4,577	-3,019	426
Operating Cash Flow	18,640	18,874	18,924	18,400	17,833	18,648
Operating Cash Flow Growth	-1.24%	-0.26%	2.85%	3.18%	-4.37%	71.13%
Capital Expenditures	-4,268	-4,567	-5,531	-7,478	-4,969	-2,664
Purchases of Investments	-197	-243	-579	-116	-149	-99
Cash Acquisitions	454	149	-438	-721	-809	-13,226
Other Investing Activities	21	21	9	5	7	10
Investing Cash Flow	-3,990	-4,640	-6,539	-8,310	-5,920	-15,979
Long-Term Debt Issued	1,693	2,095	3,595	5,990	3,774	251
Long-Term Debt Repaid	-6,725	-7,202	-6,591	-6,786	-6,642	-8,866
Net Long-Term Debt Issued (Repaid)	-5,032	-5,107	-2,996	-796	-2,868	-8,615
Common Dividends Paid	-7,054	-7,123	-7,322	-7,159	-6,774	-4,161
Other Financing Activities	-3,705	-2,666	-398	-1,442	-3,043	-2,380
Financing Cash Flow	-15,791	-14,896	-10,716	-9,397	-12,685	-15,156
Foreign Exchange Rate Adjustments	-95	-248	80	-273	55	498
Net Cash Flow	-1,236	-910	1,749	420	-717	-11,989
Free Cash Flow	14,372	14,307	13,393	10,922	12,864	15,984
Free Cash Flow Growth	0.45%	6.82%	22.62%	-15.10%	-19.52%	89.86%
FCF Margin	18.05%	17.71%	15.82%	12.68%	16.25%	24.89%
Free Cash Flow Per Share	28.97	28.73	26.80	21.83	25.60	31.72
Levered Free Cash Flow	8,402	8,629	9,894	9,500	9,454	7,013
Unlevered Free Cash Flow	13,936	14,349	13,865	11,764	13,640	16,251