Blackstone Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	2,708	2,777	1,391	1,748	5,857	1,045	Upgrade
Depreciation & Amortization, Total	131.57	134.77	134.18	136.3	127.07	106.15	Upgrade
Gain (Loss) On Sale of Investments	-5,659	-4,660	-2,306	-4,646	-8,698	-2,415	Upgrade
Stock-Based Compensation	2,993	3,110	1,461	1,778	6,797	1,154	Upgrade
Change in Accounts Receivable	-322.07	-78.28	237.62	177.83	288.31	70.05	Upgrade
Change in Accounts Payable	416.26	194.58	-40.28	158.02	110.96	119.91	Upgrade
Change in Other Net Operating Assets	172.07	257.39	1,364	3,718	1,791	230.81	Upgrade
Other Operating Activities	3,317	1,746	1,816	3,266	-2,288	1,624	Upgrade
Operating Cash Flow	3,757	3,482	4,057	6,336	3,986	1,936	Upgrade
Capital Expenditures	-105.24	-61.41	-224.23	-235.5	-64.32	-111.65	Upgrade
Cash Acquisitions	-	-	-5.42	-	-	-55.17	Upgrade
Investing Cash Flow	-105.24	-61.41	-229.65	-235.5	-64.32	-166.82	Upgrade
Long-Term Debt Issued	-	741.17	494.98	3,522	2,223	888.64	Upgrade
Long-Term Debt Repaid	-	-103.22	-502.46	-280.77	-	-1.89	Upgrade
Net Debt Issued (Repaid)	1,042	637.95	-7.49	3,241	2,223	886.75	Upgrade
Repurchase of Common Stock	-321.24	-661.07	-418.02	-465.96	-1,273	-504.91	Upgrade
Common Dividends Paid	-3,284	-2,629	-2,478	-3,647	-2,545	-1,319	Upgrade
Other Financing Activities	-785.7	-1,849	-2,150	-2,922	-2,181	-1,307	Upgrade
Financing Cash Flow	-3,349	-4,502	-5,054	-3,794	-3,777	-2,244	Upgrade
Foreign Exchange Rate Adjustments	-4.01	-14.56	4.99	-12.32	-9.81	15.72	Upgrade
Net Cash Flow	298.37	-1,096	-1,222	2,294	135.28	-459.2	Upgrade
Free Cash Flow	3,652	3,420	3,833	6,101	3,922	1,824	Upgrade
Free Cash Flow Growth	-11.69%	-10.76%	-37.18%	55.56%	114.97%	-4.13%	Upgrade
Free Cash Flow Margin	28.55%	27.01%	49.88%	76.11%	17.68%	29.48%	Upgrade
Free Cash Flow Per Share	4.70	4.46	5.07	8.23	5.45	2.59	Upgrade
Cash Interest Paid	487.39	407.33	400.33	261.89	194.17	176.62	Upgrade
Cash Income Tax Paid	507.43	646.87	569.38	683.17	700.69	209.18	Upgrade

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