Bayer Aktiengesellschaft Cash Flow Statement

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

Millions EUR. 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	-3,620	-2,552	-2,941	4,150	1,000
Depreciation & Amortization	4,088	4,049	3,909	3,949	3,740
Loss (Gain) From Sale of Assets	-469	-207	-152	-1,692	-217
Asset Writedown & Restructuring Costs	-1,303	4,734	6,111	2,554	-684
Other Operating Activities	1,300	1,259	2,255	828	194
Change in Accounts Receivable	-852	197	689	269	-61
Change in Inventory	475	521	-430	-2,170	-173
Change in Accounts Payable	-176	-120	82	612	854
Change in Other Net Operating Assets	6,487	-513	-4,406	-1,407	436
Operating Cash Flow	5,930	7,368	5,117	7,093	5,089
Operating Cash Flow Growth	-19.52%	43.99%	-27.86%	39.38%	3.79%
Capital Expenditures	-2,487	-2,778	-2,751	-2,949	-2,611
Sale of Property, Plant & Equipment	415	295	215	1,130	373
Cash Acquisitions	-196	-184	-662	-89	-1,340
Divestitures	-2	17	8	2,378	-6
Investment in Securities	661	2,325	-306	-2,978	4,302
Other Investing Activities	339	489	-21	127	137
Investing Cash Flow	-1,270	164	-3,517	-2,381	855
Long-Term Debt Issued	6,282	5,815	16,284	6,631	6,592
Long-Term Debt Repaid	-8,327	-10,833	-13,031	-7,605	-9,044
Net Debt Issued (Repaid)	-2,045	-5,018	3,253	-974	-2,452
Issuance of Common Stock	-	-	23	15	-
Repurchase of Common Stock	-14	-16	-24	-25	-
Common Dividends Paid	-108	-108	-2,358	-1,985	-1,993
Other Financing Activities	-1,717	-2,036	-1,573	-1,251	-1,200
Financing Cash Flow	-3,884	-7,178	-679	-4,220	-5,645
Foreign Exchange Rate Adjustments	-291	-10	-185	112	35
Miscellaneous Cash Flow Adjustments	-5	-60	-	3	39
Net Cash Flow	480	284	736	607	373
Free Cash Flow	3,443	4,590	2,366	4,144	2,478
Free Cash Flow Growth	-24.99%	94.00%	-42.91%	67.23%	-0.28%
Free Cash Flow Margin	7.56%	9.85%	4.97%	8.17%	5.62%
Free Cash Flow Per Share	3.50	4.67	2.41	4.22	2.52
Cash Interest Paid	1,698	1,977	1,537	1,296	1,227
Cash Income Tax Paid	1,243	1,222	1,770	2,125	2,159
Levered Free Cash Flow	8,533	3,684	738.63	5,847	1,224
Unlevered Free Cash Flow	9,739	4,900	1,750	6,509	1,805
Change in Working Capital	5,934	85	-4,065	-2,696	1,056

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