ManpowerGroup 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	-13.3	145.1	88.8	373.8	382.4
Depreciation & Amortization	86	70.8	74.8	74.8	67.9
Other Amortization	-	15.8	13.8	9.8	5.5
Loss (Gain) From Sale of Assets	6.2	8.2	1.3	6	-
Asset Writedown & Restructuring Costs	88.7	-	57.3	50	-
Stock-Based Compensation	26.3	27.3	28.7	37.6	36.8
Provision & Write-off of Bad Debts	7.1	9	5.4	6.2	17.9
Other Operating Activities	-35.8	-32.4	-20.6	4.8	-1.3
Change in Accounts Receivable	-142.3	261.1	391.8	28.8	-640.9
Change in Accounts Payable	-42.5	15.7	-144.7	-80.9	-
Change in Other Net Operating Assets	-84.5	-211.4	-148.4	-87.6	776.5
Operating Cash Flow	-104.1	309.2	348.2	423.3	644.8
Operating Cash Flow Growth	-	-11.20%	-17.74%	-34.35%	-31.14%
Capital Expenditures	-57.3	-51.1	-78.2	-75.6	-64.2
Sale of Property, Plant & Equipment	1.2	-	-	-	-
Cash Acquisitions	-1	-4.9	-	-16.4	-924.4
Divestitures	-2.1	-12.2	4.1	6.7	1.6
Investing Cash Flow	-59.2	-68.2	-74.1	-85.3	-987
Short-Term Debt Issued	14.4	14	-	7.2	-
Long-Term Debt Issued	586.8	3.7	1	421.3	75.5
Total Debt Issued	601.2	17.7	1	428.5	75.5
Short-Term Debt Repaid	-	-	-12.8	-	-3
Long-Term Debt Repaid	-0.7	-1.6	-4.4	-487.2	-2.2
Total Debt Repaid	-0.7	-1.6	-17.2	-487.2	-5.2
Net Debt Issued (Repaid)	600.5	16.1	-16.2	-58.7	70.3
Issuance of Common Stock	-	0.8	1.8	0.3	5.1
Repurchase of Common Stock	-38.2	-140	-179.8	-270	-210
Common Dividends Paid	-66.7	-145.8	-144.3	-139.9	-136.6
Other Financing Activities	-10.1	-13.5	-11	-13.8	-12.5
Financing Cash Flow	485.5	-282.4	-349.5	-482.1	-283.7
Foreign Exchange Rate Adjustments	39.4	-30.5	17.7	-64.7	-93.4
Net Cash Flow	361.6	-71.9	-57.7	-208.8	-719.3
Free Cash Flow	-161.4	258.1	270	347.7	580.6
Free Cash Flow Growth	-	-4.41%	-22.35%	-40.11%	-34.45%
Free Cash Flow Margin	-0.90%	1.45%	1.43%	1.75%	2.80%
Free Cash Flow Per Share	-3.46	5.34	5.36	6.58	10.48
Cash Interest Paid	-	84.9	75.9	38.2	37
Cash Income Tax Paid	-	187.6	182.2	201.6	139.7
Levered Free Cash Flow	-127.78	389.9	489.25	359.61	506.83
Unlevered Free Cash Flow	-68.15	446.15	539.06	388.93	531.08
Change in Working Capital	-269.3	65.4	98.7	-139.7	135.6

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