UNITED Cash Flow Statement

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Net Income	2,575	4,059	6,167	5,811	5,488
Depreciation & Amortization	224	304	329	197	298
Loss (Gain) From Sale of Assets	57	770	2	-	3
Loss (Gain) From Sale of Investments	50	22	7	-	-
Loss (Gain) on Equity Investments	5	21	-26	-7	-9
Other Operating Activities	-1,385	-2,213	-1,987	-2,108	394
Change in Accounts Receivable	5	100	310	-948	565
Change in Accounts Payable	242	-31	-161	268	-246
Change in Other Net Operating Assets	-393	-947	-694	-495	499
Operating Cash Flow	1,380	2,085	3,947	2,718	6,992
Operating Cash Flow Growth	-33.81%	-47.17%	45.22%	-61.13%	248.38%
Capital Expenditures	-49	-11	-71	-5	-41
Cash Acquisitions	-151	-34	-663	-329	-
Divestitures	-	-	23	-	-
Sale (Purchase) of Intangibles	-157	-147	-171	-104	-116
Investment in Securities	142	-1,000	-217	-54	-84
Other Investing Activities	-22	58	260	15	70
Investing Cash Flow	-237	-1,134	-839	-477	-171
Long-Term Debt Repaid	-20	-47	-106	-74	-296
Net Debt Issued (Repaid)	-20	-47	-106	-74	-296
Issuance of Common Stock	-	40	-	-	-
Repurchase of Common Stock	-	-	-1,001	-3,000	-754
Common Dividends Paid	-1,880	-1,386	-794	-775	-378
Other Financing Activities	384	57	-2	-	-
Financing Cash Flow	-1,516	-1,336	-1,903	-3,849	-1,428
Miscellaneous Cash Flow Adjustments	-	-	-	-	-1
Net Cash Flow	-373	-385	1,205	-1,608	5,392
Free Cash Flow	1,331	2,074	3,876	2,713	6,951
Free Cash Flow Growth	-35.82%	-46.49%	42.87%	-60.97%	252.48%
Free Cash Flow Margin	11.06%	16.50%	29.50%	21.34%	42.55%
Free Cash Flow Per Share	33.88	52.90	97.99	64.19	156.68
Cash Interest Paid	2	1	2	2	3
Cash Income Tax Paid	1,385	2,214	1,989	2,107	-393
Levered Free Cash Flow	4,687	5,636	11,206	13,700	-4,038
Unlevered Free Cash Flow	4,688	5,637	11,207	13,701	-4,037
Change in Working Capital	-146	-878	-545	-1,175	818

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.