The Carlyle Group Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	661.5	1,020	-608.4	1,225	2,975	348.2	Upgrade
Depreciation & Amortization, Total	190.2	184.1	180.6	147.4	52	52.1	Upgrade
Gain (Loss) On Sale of Investments	-348	-306	-370.8	-145.3	-695.1	563.5	Upgrade
Stock-Based Compensation	399.9	467.9	249.1	154	163.1	105	Upgrade
Change in Accounts Payable	81.2	58.8	-33.2	-14.3	105.7	-4	Upgrade
Change in Other Net Operating Assets	463.7	-193.8	-146.6	-615.3	305.7	400.4	Upgrade
Other Operating Activities	-3,796	-2,082	1,288	-1,062	-1,683	-1,785	Upgrade
Operating Cash Flow	-2,433	-759.5	204.9	-379.3	1,791	-169.2	Upgrade
Capital Expenditures	-84.1	-77.7	-66.6	-40.6	-41.4	-61.2	Upgrade
Cash Acquisitions	-	-	-	-150.2	-	-	Upgrade
Sale (Purchase) of Intangibles	-	-	-	-618.4	-	-	Upgrade
Investment in Securities	-	0.1	23	-19.6	-	-	Upgrade
Investing Cash Flow	-84.1	-77.6	-43.6	-828.8	-32.2	-61.2	Upgrade
Short-Term Debt Issued	-	10.4	-	-	70	-	Upgrade
Long-Term Debt Issued	-	1,826	712.6	697.4	778.7	1,019	Upgrade
Total Debt Issued	4,218	1,836	712.6	697.4	848.7	1,019	Upgrade
Short-Term Debt Repaid	-	-10.4	-	-	-70	-	Upgrade
Long-Term Debt Repaid	-	-120.5	-17.2	-16.7	-492.4	-333.7	Upgrade
Total Debt Repaid	-99.2	-130.9	-17.2	-16.7	-562.4	-333.7	Upgrade
Net Debt Issued (Repaid)	4,118	1,705	695.4	680.7	286.3	685	Upgrade
Issuance of Common Stock	-	-	-	38.9	4.8	-	Upgrade
Repurchase of Common Stock	-558.6	-554.6	-203.5	-185.6	-161.8	-26.4	Upgrade
Common Dividends Paid	-504.4	-503	-497.7	-443.6	-355.8	-351.3	Upgrade
Dividends Paid	-504.4	-503	-497.7	-443.6	-355.8	-351.3	Upgrade
Other Financing Activities	272.2	35.2	-93.8	24.4	-16	63	Upgrade
Financing Cash Flow	3,328	682.8	-99.6	114.8	-242.5	370.3	Upgrade
Foreign Exchange Rate Adjustments	37.3	-21.3	18.9	-20.3	-30.8	21.7	Upgrade
Net Cash Flow	847.5	-175.6	80.6	-1,114	1,486	161.6	Upgrade
Free Cash Flow	-2,517	-837.2	138.3	-419.9	1,750	-230.4	Upgrade
Free Cash Flow Margin	-78.46%	-17.66%	5.71%	-10.20%	20.61%	-8.61%	Upgrade
Free Cash Flow Per Share	-6.80	-2.27	0.38	-1.15	4.83	-0.64	Upgrade
Cash Interest Paid	93.6	93.6	91.8	91.5	92.7	80.1	Upgrade
Cash Income Tax Paid	218.8	218.8	250.1	402.1	402.6	35.4	Upgrade

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