Mercer International 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	-497.89	-85.14	-242.06	247.04	170.99
Depreciation & Amortization	160.05	170.79	172.5	144.15	132.2
Loss (Gain) From Sale of Assets	-	-	33.73	-	-
Asset Writedown & Restructuring Costs	215.68	34.28	-	-	-
Loss (Gain) From Sale of Investments	-	23.65	-	-	-
Stock-Based Compensation	2.29	3.86	5.92	6.74	2.39
Other Operating Activities	70.3	-32.35	25.08	-12.27	31.52
Change in Accounts Receivable	52.59	-32.09	52.51	-20.48	-121.58
Change in Inventory	0.53	23.91	-15.84	-63.18	-96.44
Change in Accounts Payable	7.16	-17.68	-98.18	66.8	75.59
Change in Other Net Operating Assets	-2.11	0.99	-2.68	-8.13	-12.45
Operating Cash Flow	8.59	90.2	-69.01	360.66	182.21
Operating Cash Flow Growth	-90.48%	-	-	97.93%	338.38%
Capital Expenditures	-88.58	-84.32	-136.32	-178.74	-159.44
Sale of Property, Plant & Equipment	6.38	19.87	3.41	1.69	-
Cash Acquisitions	-	-	-82.1	-256.6	-51.26
Investment in Securities	-	-	-	0.52	-
Other Investing Activities	0.87	-2.55	15.15	8.53	32.9
Investing Cash Flow	-81.33	-66.99	-199.87	-424.61	-177.79
Long-Term Debt Issued	102.89	206	261.27	115.33	875
Long-Term Debt Repaid	-13.18	-333.98	-7.79	-10	-865.8
Net Debt Issued (Repaid)	89.71	-127.98	253.49	105.33	9.2
Common Dividends Paid	-10.04	-20.06	-19.95	-19.85	-17.17
Other Financing Activities	0.14	-4.74	-4.91	-4.58	-10.87
Financing Cash Flow	79.81	-152.78	228.62	80.9	-18.84
Foreign Exchange Rate Adjustments	-5.19	0.5	0.21	-8.53	-1.07
Net Cash Flow	1.88	-129.07	-40.04	8.42	-15.49
Free Cash Flow	-80	5.89	-205.33	181.92	22.77
Free Cash Flow Growth	-	-	-	698.80%	-
Free Cash Flow Margin	-4.28%	0.29%	-10.30%	7.98%	1.26%
Free Cash Flow Per Share	-1.20	0.09	-3.09	2.73	0.34
Cash Interest Paid	108.05	105.48	79.62	67.1	73.09
Cash Income Tax Paid	26.02	22.49	63.55	86.04	22.95
Levered Free Cash Flow	-41.8	92.05	-155.43	161.22	11.4
Unlevered Free Cash Flow	29.97	160.27	-100.28	205.9	55.18
Change in Working Capital	58.17	-24.88	-64.19	-25	-154.89

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