FRA:NVAL 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	1,830	2,227	2,208	1,999	1,211
Depreciation & Amortization	3,005	2,785	2,401	2,396	2,431
Other Amortization	14.71	9.99	9.3	12.43	10.98
Loss (Gain) From Sale of Assets	-	-	-	-	2.26
Asset Writedown & Restructuring Costs	8.87	1.68	192.78	317.78	169
Loss (Gain) on Equity Investments	-130.22	-37.75	-42.56	-19.56	-15.17
Other Operating Activities	77.92	317.53	228.78	828.76	67.67
Change in Accounts Receivable	-8.75	549.06	-87.66	-201.83	-229.78
Change in Inventory	38.56	-54.59	-51.58	-135.48	-60.36
Change in Accounts Payable	-230.99	107.78	-125.5	55.66	124.02
Change in Other Net Operating Assets	-33.18	-184.31	-370.43	-564.87	-281.82
Operating Cash Flow	4,572	5,722	4,362	4,687	3,428
Operating Cash Flow Growth	-20.09%	31.17%	-6.94%	36.72%	23.70%
Capital Expenditures	-3,683	-3,498	-2,365	-1,861	-1,644
Cash Acquisitions	-382.32	-	-0.72	-0.96	-2,299
Sale (Purchase) of Intangibles	-91.64	-53.45	-26.41	-31.08	-29.07
Investment in Securities	-452.03	-200.85	-10.86	111.2	29.82
Other Investing Activities	76.44	82.02	47.93	102	88.74
Investing Cash Flow	-4,567	-4,266	-2,371	-1,695	-3,853
Short-Term Debt Issued	-	-	-	-	200
Long-Term Debt Issued	-	-	44.55	358.64	179.96
Total Debt Issued	-	-	44.55	358.64	379.96
Short-Term Debt Repaid	-	-	-	-	-200
Long-Term Debt Repaid	-396.95	-317.71	-332.95	-1,202	-128.48
Total Debt Repaid	-396.95	-317.71	-332.95	-1,202	-328.48
Net Debt Issued (Repaid)	-396.95	-317.71	-288.4	-843.49	51.48
Common Dividends Paid	-1,108	-1,080	-1,099	-819.49	-605.34
Other Financing Activities	-152.79	-126.76	-134.17	-336.7	-141.5
Financing Cash Flow	-1,658	-1,524	-1,521	-2,000	-695.36
Foreign Exchange Rate Adjustments	28.67	-11.82	9.87	-12.89	-24.4
Net Cash Flow	-1,624	-80.8	479.74	980.03	-1,145
Free Cash Flow	889.52	2,224	1,996	2,827	1,785
Free Cash Flow Growth	-60.00%	11.40%	-29.37%	58.39%	12.61%
Free Cash Flow Margin	10.39%	25.15%	23.11%	30.00%	25.66%
Free Cash Flow Per Share	0.22	0.56	0.50	0.71	0.45
Cash Interest Paid	152.79	131.5	136.6	144.37	133.91
Cash Income Tax Paid	1,621	1,620	1,787	1,611	989.08
Levered Free Cash Flow	942.72	2,098	1,173	3,118	2,644
Unlevered Free Cash Flow	1,191	2,307	1,357	3,264	2,771
Change in Working Capital	-234.36	417.94	-635.16	-846.53	-447.95

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