Pearson Cash Flow Statement

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

Millions GBP. 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	335	434	378	242	177
Depreciation & Amortization	115	117	134	144	145
Other Amortization	388	404	403	413	396
Loss (Gain) From Sale of Assets	-	5	13	-24	-63
Asset Writedown & Restructuring Costs	71	5	6	61	146
Stock-Based Compensation	39	44	40	35	28
Other Operating Activities	-209	-329	-353	-475	-505
Change in Accounts Receivable	-104	32	-24	33	-71
Change in Inventory	5	15	9	-34	22
Change in Accounts Payable	35	-99	-20	-84	37
Change in Other Net Operating Assets	-19	-1	-61	50	14
Operating Cash Flow	656	627	525	361	326
Operating Cash Flow Growth	4.63%	19.43%	45.43%	10.74%	-16.20%
Capital Expenditures	-29	-33	-30	-57	-64
Sale of Property, Plant & Equipment	3	6	5	14	-
Cash Acquisitions	-167	-39	-171	-228	-55
Divestitures	8	-7	-38	333	83
Sale (Purchase) of Intangibles	-105	-91	-96	-90	-112
Investment in Securities	-5	-7	-6	-	34
Other Investing Activities	34	22	20	23	13
Investing Cash Flow	-243	-131	-301	13	-80
Long-Term Debt Issued	1,017	1,265	285	-	-
Long-Term Debt Repaid	-1,051	-999	-369	-264	-255
Net Debt Issued (Repaid)	-34	266	-84	-264	-255
Issuance of Common Stock	9	7	9	7	6
Repurchase of Common Stock	-352	-318	-186	-353	-16
Common Dividends Paid	-160	-156	-154	-156	-149
Other Financing Activities	-72	-40	-35	-38	-
Financing Cash Flow	-609	-241	-450	-804	-414
Foreign Exchange Rate Adjustments	-14	-21	-8	36	-8
Net Cash Flow	-210	234	-234	-394	-176
Free Cash Flow	627	594	495	304	262
Free Cash Flow Growth	5.56%	20.00%	62.83%	16.03%	-22.02%
Free Cash Flow Margin	17.53%	16.72%	13.47%	7.92%	7.64%
Free Cash Flow Per Share	0.95	0.87	0.69	0.41	0.34
Cash Interest Paid	73	65	60	57	67
Cash Income Tax Paid	2	119	97	109	177
Levered Free Cash Flow	863.75	459	843.13	576.75	601.5
Unlevered Free Cash Flow	910.63	508.38	881.25	619.88	644
Change in Working Capital	-83	-53	-96	-35	2

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