Smurfit Westrock 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
Period Ending	Sep '25 Sep 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
Net Income	748	319	825	1,034	802	666.67
Depreciation & Amortization	2,467	1,464	580	564	554	663
Other Amortization	-	-	-	-	-	18.35
Loss (Gain) From Sale of Assets	-	-	-	-	-	-2.45
Asset Writedown & Restructuring Costs	264	24	5	121	-	-
Loss (Gain) From Sale of Investments	-	-	-	-	-	1.22
Loss (Gain) on Equity Investments	-	-	-	-	-	-1.22
Stock-Based Compensation	166	206	66	68	82	42.81
Other Operating Activities	-288	-181	-76	-37	-81	36.7
Change in Accounts Receivable	29	-144	245	-91	-501	26.91
Change in Inventory	-117	62	220	-209	-297	17.13
Change in Accounts Payable	-189	-273	-260	-33	585	72.17
Change in Income Taxes	-31	-5	-99	53	-19	-
Change in Other Net Operating Assets	-71	11	53	-37	-43	-15.9
Operating Cash Flow	2,978	1,483	1,559	1,433	1,082	1,525
Operating Cash Flow Growth	126.81%	-4.88%	8.79%	32.44%	-29.07%	16.88%
Capital Expenditures	-2,178	-1,466	-929	-930	-715	-603.06
Sale of Property, Plant & Equipment	61	61	17	13	19	6.12
Cash Acquisitions	-9	-720	-33	-108	-521	-2.45
Divestitures	-	-	-	-	39	-
Sale (Purchase) of Intangibles	-	-	-	-	-	-25.69
Other Investing Activities	43	11	14	5	6	15.9
Investing Cash Flow	-2,083	-2,114	-931	-1,020	-1,172	-609.17
Short-Term Debt Issued	-	1	-	-	-	-
Long-Term Debt Issued	-	5,709	88	52	1,248	-
Total Debt Issued	3,080	5,710	88	52	1,248	-
Long-Term Debt Repaid	-	-4,343	-143	-59	-777	-513.76
Net Debt Issued (Repaid)	-14	1,367	-55	-7	471	-513.76
Issuance of Common Stock	-	-	-	-	-	792.66
Repurchase of Common Stock	-73	-53	-30	-74	-28	-19.57
Common Dividends Paid	-832	-650	-391	-349	-365	-318.04
Other Financing Activities	-17	-57	-3	-1	-2	-19.57
Financing Cash Flow	-936	607	-479	-431	76	-78.29
Foreign Exchange Rate Adjustments	-59	-121	10	-126	-107	23.24
Net Cash Flow	-100	-145	159	-144	-121	861.16
Free Cash Flow	800	17	630	503	367	922.32
Free Cash Flow Growth	440.54%	-97.30%	25.25%	37.06%	-60.21%	49.16%
Free Cash Flow Margin	2.57%	0.08%	5.21%	3.72%	3.08%	8.84%
Free Cash Flow Per Share	1.52	0.04	2.42	1.93	1.41	3.83
Cash Interest Paid	-	-	-	-	-	149.24
Cash Income Tax Paid	468	383	439	338	283	237.31
Levered Free Cash Flow	1,227	-1,737	644.38	401.03	289.29	907.34
Unlevered Free Cash Flow	1,733	-1,409	750.63	493.53	394.29	1,005
Change in Working Capital	-379	-349	159	-317	-275	100.31

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