Korea Ratings Cash Flow Statement

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

Millions KRW. 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	25,229	24,433	20,385	20,441	22,261
Depreciation & Amortization	2,387	3,721	5,421	5,859	4,669
Loss (Gain) From Sale of Assets	-0.58	0.33	-2.8	-3.2	-4.66
Provision & Write-off of Bad Debts	243.91	251.36	100.49	15.07	9.06
Other Operating Activities	2,812	6,346	439.08	401.93	4,756
Change in Accounts Receivable	422.39	-2,209	842.07	1,245	-1,274
Change in Accounts Payable	-0.01	-0.06	-0.04	-0.13	0.35
Change in Other Net Operating Assets	797.61	2,861	463.46	-3,523	3,169
Operating Cash Flow	31,890	35,403	27,648	24,435	33,586
Operating Cash Flow Growth	-9.92%	28.05%	13.15%	-27.25%	9.95%
Capital Expenditures	-701.21	-273.96	-255.2	-192.82	-64.56
Sale of Property, Plant & Equipment	0.37	-	1.28	0.52	-
Sale (Purchase) of Intangibles	-2,403	-1,313	-324	-1,415	-5,727
Investment in Securities	-	-	-	-	1,000
Other Investing Activities	-302.51	-150.42	-180.74	556.68	-7.6
Investing Cash Flow	-3,900	-2,031	-2,122	-1,537	-5,651
Long-Term Debt Repaid	-691.47	-702.47	-690.49	-753.57	-773.89
Net Debt Issued (Repaid)	-691.47	-702.47	-690.49	-753.57	-773.89
Dividends Paid	-23,810	-19,756	-32,948	-25,712	-15,685
Other Financing Activities	-0	-	-	-	-0
Financing Cash Flow	-24,502	-20,459	-33,639	-26,466	-16,459
Miscellaneous Cash Flow Adjustments	-0	-0	-	-	-0
Net Cash Flow	3,489	12,913	-8,113	-3,567	11,476
Free Cash Flow	31,189	35,129	27,393	24,242	33,522
Free Cash Flow Growth	-11.21%	28.24%	13.00%	-27.68%	12.23%
Free Cash Flow Margin	28.41%	33.76%	28.66%	23.87%	32.07%
Free Cash Flow Per Share	6992.28	7874.48	6140.71	5434.40	7514.59
Cash Interest Paid	58.35	99.42	97.74	13.44	22.57
Cash Income Tax Paid	8,913	5,368	9,403	11,045	9,835
Levered Free Cash Flow	20,844	25,191	19,396	19,523	23,454
Unlevered Free Cash Flow	20,888	25,273	19,461	19,538	23,471
Change in Working Capital	1,220	651.45	1,305	-2,279	1,896

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