Bayer Aktiengesellschaft Cash Flow Statement

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

Millions EUR. 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	-198	-2,552	-2,941	4,150	1,000	-10,495
Depreciation & Amortization	3,276	4,049	3,909	3,949	3,740	3,444
Loss (Gain) From Sale of Assets	-408	-207	-152	-1,692	-217	-126
Asset Writedown & Restructuring Costs	942	4,734	6,111	2,554	-684	9,815
Other Operating Activities	1,000	1,259	2,255	828	194	-6,737
Change in Accounts Receivable	-182	197	689	269	-61	695
Change in Inventory	145	521	-430	-2,170	-173	-900
Change in Accounts Payable	319	-120	82	612	854	-347
Change in Other Net Operating Assets	1,831	-513	-4,406	-1,407	436	9,220
Operating Cash Flow	6,725	7,368	5,117	7,093	5,089	4,903
Operating Cash Flow Growth	-15.71%	43.99%	-27.86%	39.38%	3.79%	-40.26%
Capital Expenditures	-2,788	-2,778	-2,751	-2,949	-2,611	-2,418
Sale of Property, Plant & Equipment	318	295	215	1,130	373	329
Cash Acquisitions	-287	-184	-662	-89	-1,340	-2,263
Divestitures	-1	17	8	2,378	-6	4,172
Investment in Securities	372	2,325	-306	-2,978	4,302	-4,027
Other Investing Activities	340	489	-21	127	137	134
Investing Cash Flow	-2,046	164	-3,517	-2,381	855	-4,073
Long-Term Debt Issued	-	5,815	16,284	6,631	6,592	10,891
Long-Term Debt Repaid	-	-10,833	-13,031	-7,605	-9,044	-6,424
Net Debt Issued (Repaid)	-1,185	-5,018	3,253	-974	-2,452	4,467
Issuance of Common Stock	-	-	23	15	-	-
Repurchase of Common Stock	-16	-16	-24	-25	-	-
Common Dividends Paid	-106	-108	-2,358	-1,985	-1,993	-2,751
Other Financing Activities	-1,795	-2,036	-1,573	-1,251	-1,200	-1,293
Financing Cash Flow	-3,102	-7,178	-679	-4,220	-5,645	423
Foreign Exchange Rate Adjustments	-297	-68	-185	112	35	-240
Miscellaneous Cash Flow Adjustments	-2	-2	-	3	39	-7
Net Cash Flow	1,278	284	736	607	373	1,006
Free Cash Flow	3,937	4,590	2,366	4,144	2,478	2,485
Free Cash Flow Growth	-25.76%	94.00%	-42.91%	67.23%	-0.28%	-55.28%
Free Cash Flow Margin	8.58%	9.85%	4.97%	8.17%	5.62%	6.00%
Free Cash Flow Per Share	4.01	4.67	2.41	4.22	2.52	2.53
Cash Interest Paid	1,772	1,977	1,537	1,296	1,227	1,301
Cash Income Tax Paid	1,126	1,222	1,770	2,125	2,159	1,063
Levered Free Cash Flow	5,173	3,716	706.13	5,847	1,224	14,918
Unlevered Free Cash Flow	6,399	4,932	1,717	6,509	1,805	15,856
Change in Working Capital	2,113	85	-4,065	-2,696	1,056	8,668

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