S&P Global Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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	5,317	4,820	4,167	2,893	3,522	3,263
Depreciation & Amortization	1,206	1,179	1,173	1,143	1,013	178
Stock-Based Compensation	239	236	247	171	214	122
Other Adjustments	-594	-152	-133	-37	-1,908	105
Change in Receivables	-591	-600	-79	-291	36	-144
Changes in Accounts Payable	66	-55	245	328	43	38
Changes in Income Taxes Payable	106	100	192	-175	-135	-36
Changes in Unearned Revenue	71	327	222	352	37	198
Changes in Other Operating Activities	-211	-204	-345	-674	-219	-126
Operating Cash Flow	5,729	5,651	5,689	3,710	2,603	3,598
Operating Cash Flow Growth	2.61%	-0.67%	53.34%	42.53%	-27.65%	0.87%
Capital Expenditures	-156	-195	-124	-143	-89	-35
Cash Acquisitions	-2,024	-2,023	-305	-296	210	-99
Proceeds from Business Divestments	1,895	1,549	168	1,014	3,509	16
Other Investing Activities	-36	-35	6	-13	-2	-2
Investing Cash Flow	-321	-704	-255	562	3,628	-120
Short-Term Debt Issued	825	715	-	-188	-32	-
Net Short-Term Debt Issued (Repaid)	825	715	-	-188	-32	-
Long-Term Debt Issued	993	993	-	744	5,395	-
Long-Term Debt Repaid	-3	-4	-47	-	-3,698	-
Net Long-Term Debt Issued (Repaid)	990	989	-47	744	1,697	-
Issuance of Common Stock	-	-	-	-	-	13
Repurchase of Common Stock	-5,200	-5,001	-3,301	-3,301	-12,004	-
Net Common Stock Issued (Repurchased)	-5,200	-5,001	-3,301	-3,301	-12,004	13
Common Dividends Paid	-1,156	-1,170	-1,134	-1,147	-1,024	-743
Other Financing Activities	-406	-463	-516	-388	37	-283
Financing Cash Flow	-3,060	-4,930	-4,998	-4,280	-11,326	-1,013
Foreign Exchange Rate Adjustments	-54	62	-61	12	-123	-82
Net Cash Flow	2,294	79	375	4	-5,218	2,383
Free Cash Flow	5,573	5,456	5,565	3,567	2,514	3,563
Free Cash Flow Growth	2.99%	-1.96%	56.01%	41.88%	-29.44%	2.06%
FCF Margin	34.57%	35.58%	39.17%	28.54%	22.48%	42.94%
Free Cash Flow Per Share	18.58	17.88	17.84	11.19	7.89	14.74
Levered Free Cash Flow	7,819	7,327	5,168	4,013	5,563	3,241
Unlevered Free Cash Flow	6,623	6,145	5,710	3,971	4,333	3,525

SEC Filings: 10-K · 10-Q