LON:0HEC 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	3,580	2,967	2,208	2,307	2,488
Depreciation & Amortization	3,434	3,252	3,024	3,156	2,938
Other Amortization	9	50	71	36.7	44.4
Loss (Gain) on Sale of Assets	46	91	185	340.3	64.2
Loss (Gain) on Sale of Investments	-	-	-	188	-
Asset Writedown	66	143	86	48.8	11.6
Change in Accounts Receivable	-246	-156	236	-681.7	-119.7
Change in Inventory	115	172	-504	-313.9	300.2
Change in Accounts Payable	252	85	-253	489.2	200.6
Change in Income Taxes	32	240	22	105.4	218.7
Change in Other Net Operating Assets	188	169	-206	163.3	-511.2
Other Operating Activities	-532	-209	143	-551	-1,795
Operating Cash Flow	6,944	6,804	5,012	5,288	3,840
Operating Cash Flow Growth	2.06%	35.75%	-5.22%	37.71%	0.18%
Capital Expenditures	-11,906	-8,030	-7,533	-7,879	-6,427
Sale of Property, Plant & Equipment	25	362	1,341	218	118.9
Investment in Securities	-	114	-	-	-
Nuclear Fuel Expenditures	-130	-140	-128	-100.7	-104.5
Contributions to Nuclear Demissioning Trust	-2,981	-2,923	-2,864	-2,784	-1,955
Other Investing Activities	3,053	3,021	2,917	2,794	1,934
Investing Cash Flow	-11,939	-7,596	-6,267	-7,752	-6,434
Short-Term Debt Issued	320	724	1,070	2,484	1,393
Long-Term Debt Issued	8,261	5,117	5,463	4,650	6,486
Total Debt Issued	8,581	5,841	6,533	7,134	7,880
Short-Term Debt Repaid	-1,336	-1,030	-2,352	-986.1	-1,259
Long-Term Debt Repaid	-3,700	-2,750	-2,264	-2,655	-3,053
Total Debt Repaid	-5,036	-3,780	-4,616	-3,641	-4,312
Net Debt Issued (Repaid)	3,545	2,061	1,917	3,493	3,568
Issuance of Common Stock	775	552	1,000	826.5	600.5
Common Dividends Paid	-2,008	-1,898	-1,752	-1,629	-1,508
Other Financing Activities	2,705	-56	-88	-121.9	-53.4
Financing Cash Flow	5,017	659	1,077	2,569	2,607
Net Cash Flow	22	-133	-178	105.1	13.1
Free Cash Flow	-5,092	-1,366	-2,649	-2,692	-2,691
Free Cash Flow Margin	-23.28%	-6.93%	-13.96%	-13.71%	-16.03%
Free Cash Flow Per Share	-9.47	-2.57	-5.09	-5.24	-5.36
Cash Interest Paid	1,894	1,838	1,674	1,286	1,137
Cash Income Tax Paid	-	-	-	116.8	13.2
Levered Free Cash Flow	-5,140	-2,011	-3,055	-2,812	-3,257
Unlevered Free Cash Flow	-3,874	-846.18	-1,926	-1,939	-2,507
Change in Working Capital	341	510	-705	-237.7	88.6

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