Pershing Square Holdings Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2016 - 2020
Period Ending	Jun '25 Jun 30, 2025	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	2016 - 2020
Net Income	2,441	1,174	2,486	-1,172	2,436	3,699	Upgrade
Other Amortization	4.78	2.98	2.97	3.65	4	2.48	Upgrade
Other Operating Activities	83.32	-34.1	16.38	-49.86	-0.02	5.35	Upgrade
Change in Accounts Receivable	9.44	-12.46	-2.32	-3.7	-1.43	-1.74	Upgrade
Change in Accounts Payable	242.84	-86.83	310.19	-459.76	-228.78	653.22	Upgrade
Change in Other Net Operating Assets	-3.59	121.24	356.95	-342.21	751.18	-701.42	Upgrade
Operating Cash Flow	-856.95	-1,266	1,080	366.04	-914.29	336.58	Upgrade
Operating Cash Flow Growth	-	-	195.11%	-	-	-61.87%	Upgrade
Long-Term Debt Issued	-	-	-	-	1,277	700	Upgrade
Long-Term Debt Repaid	-	-	-	-630.62	-	-	Upgrade
Net Debt Issued (Repaid)	738.98	-	-	-630.62	1,277	700	Upgrade
Repurchase of Common Stock	-201.77	-119.62	-199.96	-262.42	-0	-291.18	Upgrade
Common Dividends Paid	-113.12	-107.17	-98.78	-93.27	-79.65	-81.14	Upgrade
Other Financing Activities	-7.19	-	-	-0.06	-394.81	-7.47	Upgrade
Financing Cash Flow	416.9	-226.79	-298.74	-986.37	802.43	320.22	Upgrade
Net Cash Flow	-440.05	-1,492	781.48	-620.33	-111.86	656.79	Upgrade
Cash Interest Paid	73.42	75.62	87.69	114.29	108.49	75.48	Upgrade
Levered Free Cash Flow	1,860	527.8	2,443	-1,593	2,124	2,202	Upgrade
Unlevered Free Cash Flow	1,907	573.13	2,496	-1,532	2,186	2,251	Upgrade
Change in Working Capital	-3,386	-2,408	-1,425	1,584	-3,355	-3,370	Upgrade

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.