Willis Towers Watson Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	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	-98	1,055	1,009	4,222	996	Upgrade
Depreciation & Amortization	458	515	567	650	770	Upgrade
Other Amortization	-2	-10	-	-	-	Upgrade
Loss (Gain) From Sale of Assets	337	-43	59	-379	-81	Upgrade
Asset Writedown & Restructuring Costs	1,083	38	152	-	-	Upgrade
Stock-Based Compensation	121	125	99	101	90	Upgrade
Provision & Write-off of Bad Debts	13	6	13	19	29	Upgrade
Other Operating Activities	-74	30	-199	197	26	Upgrade
Change in Accounts Receivable	-233	-206	-188	-134	72	Upgrade
Change in Other Net Operating Assets	-93	-165	-700	-315	-128	Upgrade
Operating Cash Flow	1,512	1,345	812	2,061	1,774	Upgrade
Operating Cash Flow Growth	12.42%	65.64%	-60.60%	16.18%	64.11%	Upgrade
Capital Expenditures	-136	-153	-138	-148	-223	Upgrade
Cash Acquisitions	-107	-6	-81	-47	-69	Upgrade
Divestitures	614	-833	-88	3,018	212	Upgrade
Sale (Purchase) of Intangibles	-109	-89	-66	-53	-63	Upgrade
Investment in Securities	-12	-4	200	-200	-	Upgrade
Other Investing Activities	-	-	-	-	-17	Upgrade
Investing Cash Flow	250	-1,085	-173	2,570	-160	Upgrade
Long-Term Debt Issued	746	748	750	-	282	Upgrade
Total Debt Issued	746	748	750	-	282	Upgrade
Long-Term Debt Repaid	-655	-254	-585	-1,008	-327	Upgrade
Net Debt Issued (Repaid)	91	494	165	-1,008	-45	Upgrade
Issuance of Common Stock	-	-	7	10	16	Upgrade
Repurchase of Common Stock	-957	-1,026	-3,564	-1,643	-14	Upgrade
Common Dividends Paid	-354	-352	-369	-374	-346	Upgrade
Other Financing Activities	761	-316	316	-99	767	Upgrade
Financing Cash Flow	-459	-1,200	-3,445	-3,114	378	Upgrade
Foreign Exchange Rate Adjustments	-97	11	-164	-127	126	Upgrade
Net Cash Flow	1,206	-929	-2,970	1,390	2,118	Upgrade
Free Cash Flow	1,376	1,192	674	1,913	1,551	Upgrade
Free Cash Flow Growth	15.44%	76.85%	-64.77%	23.34%	85.75%	Upgrade
Free Cash Flow Margin	13.86%	12.57%	7.60%	21.26%	18.00%	Upgrade
Free Cash Flow Per Share	13.49	11.24	6.02	14.83	11.93	Upgrade
Cash Interest Paid	242	223	201	212	229	Upgrade
Cash Income Tax Paid	312	348	428	570	310	Upgrade
Levered Free Cash Flow	963.5	1,461	1,135	1,722	1,788	Upgrade
Unlevered Free Cash Flow	1,128	1,608	1,265	1,854	1,940	Upgrade
Change in Net Working Capital	581	-15	329	-211	-507	Upgrade

Updated Feb 25, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.