XPO, Inc. 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	316	387	189	850	437
Depreciation & Amortization	521	490	432	392	385
Stock-Based Compensation	77	87	78	77	31
Other Adjustments	116	39	88	652	253
Change in Receivables	-47	-47	-46	-100	-171
Changes in Accounts Payable	-22	-8	-48	62	98
Changes in Accrued Expenses	62	-33	4	42	20
Changes in Other Operating Activities	-38	-106	-9	-3	23
Operating Cash Flow	986	808	682	832	721
Operating Cash Flow Growth	22.03%	18.48%	-18.03%	15.39%	-18.53%
Capital Expenditures	-657	-789	-1,533	-521	-269
Sale of Property, Plant & Equipment	41	75	29	88	131
Proceeds from Sale of Investments	-	12	-	-	-
Other Investing Activities	-	-	2	29	-3
Investing Cash Flow	-616	-702	-1,499	245	-277
Short-Term Debt Issued	-	-	-	275	-
Short-Term Debt Repaid	-	-	-	-275	-224
Net Short-Term Debt Issued (Repaid)	-	-	-	-	-224
Long-Term Debt Issued	-	-	2,962	-	-
Long-Term Debt Repaid	-188	-82	-2,188	-1,129	-2,849
Net Long-Term Debt Issued (Repaid)	-188	-82	774	-1,129	-2,849
Issuance of Common Stock	-	-	-	-	384
Repurchase of Common Stock	-175	-129	-19	-27	-28
Net Common Stock Issued (Repurchased)	-175	-129	-19	-27	356
Other Financing Activities	24	-14	6	294	483
Financing Cash Flow	-339	-226	761	-861	-1,933
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-1	5	-	-18	-2
Net Cash Flow	31	-120	-51	197	-1,792
Free Cash Flow	329	19	-851	311	452
Free Cash Flow Growth	1631.58%	-	-	-31.20%	-28.93%
FCF Margin	4.03%	0.24%	-10.99%	4.03%	6.28%
Free Cash Flow Per Share	2.76	0.16	-7.21	2.68	3.96
Levered Free Cash Flow	-6	-141	-191	-491	-2,480
Unlevered Free Cash Flow	340.36	94	-830.55	240.87	536.93

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.