The Gap Cash Flow Statement

Financials in millions USD. Fiscal year is March - February.

Millions USD. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 1, 2025	Feb '25 Feb 1, 2025	Feb '24 Feb 3, 2024	Jan '23 Jan 28, 2023	Jan '22 Jan 29, 2022	Jan '21 Jan 30, 2021
Net Income	851	844	502	-202	256	-665
Depreciation & Amortization	497	500	522	540	504	507
Other Amortization	4	4	4	6	14	12
Loss (Gain) From Sale of Assets	-	-	-47	-48	59	-
Asset Writedown & Restructuring Costs	1	1	7	51	9	557
Stock-Based Compensation	149	126	80	37	139	77
Other Operating Activities	95	18	-36	26	295	-79
Change in Inventory	-130	-88	383	554	-593	-305
Change in Accounts Payable	4	137	42	-540	186	564
Change in Income Taxes	5	46	75	417	-85	-304
Change in Other Net Operating Assets	-253	-102	-	-234	25	-127
Operating Cash Flow	1,223	1,486	1,532	607	809	237
Operating Cash Flow Growth	-22.10%	-3.00%	152.39%	-24.97%	241.35%	-83.20%
Capital Expenditures	-444	-447	-420	-685	-694	-392
Sale of Property, Plant & Equipment	7	7	76	458	-	-
Cash Acquisitions	-	-	-	-	-135	-
Divestitures	-	-	9	-	-21	-
Investment in Securities	-1	-247	-	-	409	-120
Other Investing Activities	-5	-5	1	-	-5	2
Investing Cash Flow	-443	-692	-334	-227	-446	-510
Long-Term Debt Issued	-	-	-	350	1,500	2,750
Long-Term Debt Repaid	-	-	-350	-	-2,546	-1,807
Net Debt Issued (Repaid)	-	-	-350	350	-1,046	943
Issuance of Common Stock	23	32	27	27	54	22
Repurchase of Common Stock	-268	-125	-20	-143	-237	-9
Common Dividends Paid	-241	-225	-222	-220	-226	-
Other Financing Activities	-	-3	-2	-8	-16	-61
Financing Cash Flow	-486	-321	-567	6	-1,471	895
Foreign Exchange Rate Adjustments	-2	-9	-3	-15	-6	13
Net Cash Flow	292	464	628	371	-1,114	635
Free Cash Flow	779	1,039	1,112	-78	115	-155
Free Cash Flow Growth	-29.69%	-6.57%	-	-	-	-
Free Cash Flow Margin	5.10%	6.89%	7.47%	-0.50%	0.69%	-1.12%
Free Cash Flow Per Share	2.03	2.71	2.96	-0.21	0.30	-0.41
Cash Interest Paid	63	63	74	76	180	145
Cash Income Tax Paid	237	237	49	-388	215	20
Levered Free Cash Flow	615.38	860.5	1,296	-65	19.38	-73.75
Unlevered Free Cash Flow	666.38	910.88	1,348	-16	109.75	34.25
Change in Working Capital	-374	-7	500	197	-467	-172

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