Ashland Cash Flow Statement

Financials in millions USD. Fiscal year is October - September.

Millions USD. Fiscal year is Oct - Sep.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Net Income	-845	169	178	927	220
Depreciation & Amortization	196	217	243	241	244
Other Amortization	7	6	6	7	7
Loss (Gain) From Sale of Assets	161	107	-8	-42	-18
Asset Writedown & Restructuring Costs	747	68	4	-	13
Loss (Gain) From Sale of Investments	-33	-74	-43	86	-33
Loss (Gain) on Equity Investments	-	-	-	-	1
Stock-Based Compensation	14	15	22	18	15
Other Operating Activities	78	-273	-50	-808	-65
Change in Accounts Receivable	-3	96	58	-23	72
Change in Inventory	-28	79	-7	-141	41
Change in Accounts Payable	-63	56	-112	34	3
Change in Other Net Operating Assets	-97	-4	3	-107	-36
Operating Cash Flow	94	411	243	-213	560
Operating Cash Flow Growth	-77.13%	69.14%	-	-	175.86%
Capital Expenditures	-98	-137	-170	-113	-105
Sale of Property, Plant & Equipment	16	-	11	51	5
Cash Acquisitions	-	-	-	-	-309
Divestitures	16	26	-	-	14
Investment in Securities	2	-	-	-	-
Other Investing Activities	61	60	50	1,618	14
Investing Cash Flow	-3	-51	-109	1,556	-381
Short-Term Debt Issued	-	-	16	-	84
Long-Term Debt Issued	-	-	-	-	450
Total Debt Issued	-	-	16	-	534
Short-Term Debt Repaid	-	-16	-	-365	-
Long-Term Debt Repaid	-	-	-	-250	-411
Total Debt Repaid	-	-16	-	-615	-411
Net Debt Issued (Repaid)	-	-16	16	-615	123
Repurchase of Common Stock	-103	-385	-311	-209	-457
Common Dividends Paid	-76	-78	-76	-70	-70
Other Financing Activities	-	-	-	-2	-22
Financing Cash Flow	-179	-479	-371	-896	-426
Foreign Exchange Rate Adjustments	3	2	8	-11	3
Net Cash Flow	-85	-117	-229	436	-244
Free Cash Flow	-4	274	73	-326	455
Free Cash Flow Growth	-	275.34%	-	-	550.00%
Free Cash Flow Margin	-0.22%	12.97%	3.33%	-13.63%	21.55%
Free Cash Flow Per Share	-0.09	5.48	1.35	-5.82	7.46
Cash Interest Paid	54	52	53	56	62
Cash Income Tax Paid	33	53	47	67	1
Levered Free Cash Flow	22.88	420.75	88	690	-145.25
Unlevered Free Cash Flow	54	447.88	115.75	721.75	-109.13
Change in Working Capital	-191	227	-58	-237	80

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