Asahi Group Holdings Cash Flow Statement

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

Millions JPY. 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	230,473	266,990	241,871	205,992	199,826	125,399
Depreciation & Amortization	157,191	157,935	147,992	140,419	134,815	123,277
Loss (Gain) From Sale of Assets	-9,396	-8,567	5,747	8,950	-17,641	6,980
Loss (Gain) From Sale of Investments	-	-1,604	-	-	-	2,300
Loss (Gain) on Equity Investments	55	-548	-875	-667	-687	-285
Other Operating Activities	-100,970	-70,295	-72,115	-86,405	-48,903	-53,494
Change in Accounts Receivable	15,457	39,067	-23,608	-826	-11,812	48,666
Change in Inventory	-15,344	1,550	-24,447	-27,957	-14,566	3,306
Change in Accounts Payable	3,530	-6,201	35,882	21,675	18,704	-19,911
Change in Other Net Operating Assets	25,282	25,396	37,100	4,810	78,076	39,621
Operating Cash Flow	329,948	403,723	347,547	265,991	337,812	275,859
Operating Cash Flow Growth	4.71%	16.16%	30.66%	-21.26%	22.46%	8.83%
Capital Expenditures	-116,796	-108,325	-89,580	-83,049	-80,803	-80,775
Sale of Property, Plant & Equipment	32,899	32,884	11,710	25,109	46,321	12,095
Cash Acquisitions	-45,571	-21,448	-3,551	-2,661	-14,762	-1,165,974
Divestitures	-	485	-	676	396	1,635
Sale (Purchase) of Intangibles	-30,996	-27,932	-20,248	-15,928	6,908	-9,968
Investment in Securities	11,814	5,693	2,095	7,931	29,695	1,632
Other Investing Activities	-7,352	-22	-18,139	-1,264	-2,103	-2,017
Investing Cash Flow	-156,002	-118,665	-117,713	-69,186	-14,348	-1,243,372
Short-Term Debt Issued	-	-	-	-	-	489,155
Long-Term Debt Issued	-	235,002	200,000	60,000	473,048	607,600
Total Debt Issued	257,191	235,002	200,000	60,000	473,048	1,096,755
Short-Term Debt Repaid	-	-19,960	-200,705	-8,527	-440,775	-
Long-Term Debt Repaid	-	-377,309	-143,062	-191,460	-272,016	-225,076
Total Debt Repaid	-294,843	-397,269	-343,767	-199,987	-712,791	-225,076
Net Debt Issued (Repaid)	-37,652	-162,267	-143,767	-139,987	-239,743	871,679
Issuance of Common Stock	-	-	-	-	135	156,334
Repurchase of Common Stock	-30,008	-30,023	-25	-263	-26	-309
Common Dividends Paid	-79,655	-66,374	-57,761	-55,738	-54,220	-46,265
Other Financing Activities	-12,492	-14,120	-25,193	-23,568	-26,471	-24,680
Financing Cash Flow	-159,807	-272,784	-226,746	-219,556	-320,325	956,759
Foreign Exchange Rate Adjustments	24,608	11,743	20,004	7,447	1,144	10,725
Miscellaneous Cash Flow Adjustments	-1	-1	-585	-	-	-
Net Cash Flow	38,746	24,016	22,507	-15,304	4,283	-29
Free Cash Flow	213,152	295,398	257,967	182,942	257,009	195,084
Free Cash Flow Growth	0.92%	14.51%	41.01%	-28.82%	31.74%	8.89%
Free Cash Flow Margin	7.28%	10.05%	9.32%	7.29%	11.49%	9.62%
Free Cash Flow Per Share	141.81	194.74	169.68	120.33	169.05	137.65
Cash Interest Paid	18,471	15,691	12,646	10,839	11,224	10,049
Cash Income Tax Paid	92,971	75,574	73,914	88,562	50,615	55,256
Levered Free Cash Flow	157,175	238,114	207,471	201,781	259,064	220,745
Unlevered Free Cash Flow	173,275	249,637	216,390	209,472	267,001	227,723
Change in Working Capital	28,925	59,812	24,927	-2,298	70,402	71,682

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