BW Offshore Cash Flow Statement

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

Millions USD. 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	134.3	120.6	100.4	129.7	62.6
Depreciation & Amortization	94.5	176.6	186.3	206.5	268.4
Other Amortization	1	1.3	0.9	2.3	1.6
Loss (Gain) From Sale of Assets	-14.8	-	-24.7	-2.5	-1.2
Asset Writedown & Restructuring Costs	14.5	-1.1	5.1	15.8	90.5
Loss (Gain) on Equity Investments	12	13.3	-18.2	-9.9	-33.5
Stock-Based Compensation	4.8	1.5	1.4	2.7	4.5
Other Operating Activities	-2.7	-1.3	40.6	-20.3	10.8
Change in Accounts Receivable	20.4	21.1	79.9	64.5	-93.4
Change in Inventory	3.7	-	3	18.9	8.8
Change in Accounts Payable	-4.8	-43.7	-46.1	-8.3	18.4
Change in Unearned Revenue	174.8	64.9	265.1	279.2	139.1
Change in Other Net Operating Assets	-28.5	9.7	-35	-28.3	33.6
Operating Cash Flow	409.2	362.9	558.7	650.3	510.2
Operating Cash Flow Growth	12.76%	-35.05%	-14.09%	27.46%	31.73%
Capital Expenditures	-333.1	-379.9	-804.5	-729.5	-295.4
Sale of Property, Plant & Equipment	124.3	29.9	200.6	27.4	17.6
Cash Acquisitions	-	-	-4	-	-71.6
Investment in Securities	-16.4	158.8	-49	-1.6	26.1
Other Investing Activities	18	19.2	10	1.9	0.3
Investing Cash Flow	-207.2	-172	-646.9	-701.8	-323
Long-Term Debt Issued	76.2	163	911.9	344.2	312.9
Long-Term Debt Repaid	-113.8	-316.9	-637.2	-242	-318.4
Net Debt Issued (Repaid)	-37.6	-153.9	274.7	102.2	-5.5
Issuance of Common Stock	1	-	-	-	-
Common Dividends Paid	-59.2	-49.8	-25.3	-25.3	-25.3
Other Financing Activities	-16.8	-42.4	-30.5	-69.3	-21.8
Financing Cash Flow	-112.6	-246.1	218.9	7.6	-52.6
Net Cash Flow	89.4	-55.2	130.7	-43.9	134.6
Free Cash Flow	76.1	-17	-245.8	-79.2	214.8
Free Cash Flow Growth	-	-	-	-	-29.18%
Free Cash Flow Margin	14.94%	-2.80%	-37.29%	-10.23%	25.90%
Free Cash Flow Per Share	0.42	-0.08	-1.19	-0.38	1.00
Cash Interest Paid	-	13.6	19.7	38.5	52.3
Cash Income Tax Paid	22.5	18.2	14.8	34	24.9
Levered Free Cash Flow	-60.46	-251.95	-564.71	-316.61	-31.94
Unlevered Free Cash Flow	-46.03	-227.14	-533.46	-286.74	-1.44
Change in Working Capital	165.6	52	266.9	326	106.5

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