CDW Corporation (CDW)

CDW Corporation Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	1,051	1,078	1,104	1,115	988.6	788.5
Depreciation & Amortization	291	275.3	270.7	290.6	191.2	425.6
Stock-Based Compensation	85	64.7	93.7	91.1	72.6	42.5
Provision & Write-off of Bad Debts	41.6	32.2	14.9	8.3	-5.4	30.9
Other Operating Activities	9.9	-10	-3.7	-2	-30.8	21.9
Change in Accounts Receivable	-871.5	-559.4	-54.5	-34.8	-616.8	-226.4
Change in Inventory	178.4	61.1	139	111.9	-151	-71.4
Change in Accounts Payable	430.1	443.8	-55.4	-260	374.5	253.7
Change in Other Net Operating Assets	-99.1	-108.2	89.7	16.3	-38.3	49
Operating Cash Flow	1,117	1,277	1,599	1,336	784.6	1,314
Operating Cash Flow Growth	-23.96%	-20.10%	19.67%	70.27%	-40.30%	27.95%
Capital Expenditures	-107.8	-122.6	-148.2	-127.8	-100	-158
Cash Acquisitions	-328.7	-323.9	-76.4	-36.7	-2,706	-43
Investment in Securities	211.1	-211.1	-	-	36	-
Other Investing Activities	-3.6	-1.6	-5	-	-	-
Investing Cash Flow	-229	-659.2	-229.6	-164.5	-2,770	-201
Short-Term Debt Issued	-	-	-	84.6	-	93
Long-Term Debt Issued	-	1,492	207.6	2,301	5,537	2,324
Total Debt Issued	1,706	1,492	207.6	2,386	5,537	2,417
Short-Term Debt Repaid	-	-75.7	-23.7	-	-161.8	-
Long-Term Debt Repaid	-	-1,293	-493.1	-3,236	-2,797	-1,719
Total Debt Repaid	-2,140	-1,369	-516.8	-3,236	-2,959	-1,719
Net Debt Issued (Repaid)	-433.7	123.1	-309.2	-849.5	2,579	698.1
Issuance of Common Stock	32.4	47	49.3	30.2	69.9	49.2
Repurchase of Common Stock	-673.4	-538.2	-540	-23.1	-1,529	-363.1
Common Dividends Paid	-330	-332.1	-321.5	-282.6	-234.8	-219.6
Other Financing Activities	19.8	13.3	22.7	22.9	-52.1	-25.8
Financing Cash Flow	-1,385	-686.9	-1,099	-1,102	832.8	138.8
Foreign Exchange Rate Adjustments	3.6	-12.2	3.1	-12.2	0.1	4.1
Net Cash Flow	-493.6	-81	273.5	57.1	-1,152	1,256
Free Cash Flow	1,009	1,155	1,451	1,208	684.6	1,156
Free Cash Flow Growth	-24.77%	-20.39%	20.06%	76.47%	-40.79%	46.20%
Free Cash Flow Margin	4.57%	5.50%	6.79%	5.09%	3.29%	6.26%
Free Cash Flow Per Share	7.58	8.54	10.64	8.82	4.87	7.99
Cash Interest Paid	243.7	217.5	233.2	224.3	134.3	139.4
Cash Income Tax Paid	315.1	398.6	401.4	362.2	351	245.6
Levered Free Cash Flow	921.89	1,079	1,312	988.89	537.64	866.99
Unlevered Free Cash Flow	1,063	1,213	1,453	1,136	631.95	963.8
Change in Working Capital	-362.1	-162.7	118.8	-166.6	-431.6	4.9

Updated Nov 4, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q