LON:0RI8 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 28, 2025	Dec '24 Dec 29, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 2, 2022
Net Income	2,264	1,764	1,874	2,546	2,246
Depreciation & Amortization	3,586	3,009	3,075	3,062	2,700
Other Amortization	-	468	392	371	307
Loss (Gain) From Sale of Assets	-20	172	170	-212	-72
Asset Writedown & Restructuring Costs	147	229	377	235	61
Loss (Gain) on Equity Investments	-18	-23	-30	-44	-33
Stock-Based Compensation	70	42	53	65	48
Other Operating Activities	796	573	809	876	173
Change in Accounts Receivable	-91	-220	-205	-294	-43
Change in Inventory	-158	-30	-88	-747	-283
Change in Accounts Payable	558	143	243	583	580
Change in Other Net Operating Assets	-145	97	-204	-331	-216
Operating Cash Flow	6,989	6,224	6,466	6,110	5,468
Operating Cash Flow Growth	12.29%	-3.74%	5.83%	11.74%	-13.79%
Capital Expenditures	-2,564	-2,299	-2,434	-2,490	-2,371
Sale of Property, Plant & Equipment	82	250	136	288	82
Cash Acquisitions	-1,197	-26	-34	-20	-529
Divestitures	-52	21	-130	12	-5
Investment in Securities	-87	-	125	-	44
Other Investing Activities	99	202	11	81	42
Investing Cash Flow	-3,581	-1,727	-2,209	-2,014	-2,634
Short-Term Debt Issued	-	1,217	97	-	90
Long-Term Debt Issued	499	1,594	500	-	848
Total Debt Issued	499	2,811	597	-	938
Short-Term Debt Repaid	-1,278	-	-	-93	-
Long-Term Debt Repaid	-2,567	-2,525	-2,106	-1,917	-1,996
Total Debt Repaid	-3,845	-2,525	-2,106	-2,010	-1,996
Net Debt Issued (Repaid)	-3,346	286	-1,509	-2,010	-1,058
Repurchase of Common Stock	-1,008	-1,000	-999	-997	-994
Common Dividends Paid	-1,070	-1,037	-1,044	-979	-856
Other Financing Activities	-253	-232	-229	-202	-144
Financing Cash Flow	-5,677	-1,983	-3,781	-4,188	-3,052
Foreign Exchange Rate Adjustments	-342	168	-54	178	276
Miscellaneous Cash Flow Adjustments	1	-	-	-	-
Net Cash Flow	-2,610	2,682	422	86	58
Free Cash Flow	4,425	3,925	4,032	3,620	3,097
Free Cash Flow Growth	12.74%	-2.65%	11.38%	16.89%	-15.93%
Free Cash Flow Margin	4.79%	4.39%	4.54%	4.16%	4.10%
Free Cash Flow Per Share	4.89	4.21	4.17	3.62	3.00
Cash Interest Paid	261	230	226	174	138
Cash Income Tax Paid	499	470	200	397	931
Levered Free Cash Flow	3,392	3,035	2,317	2,695	3,112
Unlevered Free Cash Flow	3,901	3,511	2,766	3,073	3,436
Change in Working Capital	164	-10	-254	-789	38

Updated Dec 28, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.