Air Liquide Cash Flow Statement

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

Millions EUR. 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	3,518	3,306	3,078	2,759	2,572
Depreciation & Amortization	2,501	2,444	2,428	2,413	2,123
Other Amortization	62.9	61.4	53.7	53.3	50
Loss (Gain) From Sale of Assets	13.4	-7	-126.9	-129.9	27.5
Loss (Gain) on Equity Investments	7.6	0.7	-4.9	-1.1	-5.4
Other Operating Activities	515.5	538.5	878.8	968.1	306.9
Change in Accounts Receivable	-58.3	-	-	-	-
Change in Inventory	-83.7	-	-	-	-
Change in Accounts Payable	-142.1	-	-	-	-
Change in Other Net Operating Assets	58.1	-155.1	-154.4	-396.8	377.3
Operating Cash Flow	6,518	6,322	6,263	5,810	5,571
Operating Cash Flow Growth	3.10%	0.95%	7.80%	4.30%	7.01%
Capital Expenditures	-3,843	-3,525	-3,393	-3,273	-2,917
Sale of Property, Plant & Equipment	154.5	80.1	63.2	92	88.7
Cash Acquisitions	-254	-269	-103	-135.8	-659.8
Divestitures	177.8	113	339.7	61.1	130.9
Other Investing Activities	14.1	17.6	14.5	13.8	5.5
Investing Cash Flow	-3,751	-3,583	-3,079	-3,242	-3,352
Long-Term Debt Issued	2,060	-	-	-	-
Long-Term Debt Repaid	-232.7	-505.9	-1,456	-866.7	-258.6
Net Debt Issued (Repaid)	1,828	-505.9	-1,456	-866.7	-258.6
Issuance of Common Stock	134.6	30.2	122.6	23.5	172.3
Repurchase of Common Stock	-4	-230.8	-81.9	-191.5	-40.1
Common Dividends Paid	-1,955	-1,718	-1,581	-1,411	-1,335
Other Financing Activities	-348	-383	-483.5	-335.8	-354.5
Financing Cash Flow	-344.7	-2,808	-3,480	-2,781	-1,816
Foreign Exchange Rate Adjustments	-47.2	-32.4	-61.6	-165.2	16.8
Net Cash Flow	2,376	-101.2	-357.3	-378	420.3
Free Cash Flow	2,675	2,797	2,870	2,537	2,654
Free Cash Flow Growth	-4.37%	-2.53%	13.11%	-4.40%	3.04%
Free Cash Flow Margin	9.93%	10.34%	10.39%	8.48%	11.37%
Free Cash Flow Per Share	4.63	4.84	4.96	4.40	4.61
Levered Free Cash Flow	1,524	1,899	1,763	1,583	1,946
Unlevered Free Cash Flow	1,749	2,136	1,996	1,806	2,146
Change in Working Capital	-226	-155.1	-154.4	-396.8	377.3

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