TFI International Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	310.55	422.48	504.88	823.23	754.41
Depreciation & Amortization	600.74	575.77	438.14	426.92	389.3
Other Amortization	9.76	6.3	3.84	3.68	3.73
Loss (Gain) From Sale of Assets	-18.14	-7.24	-27.18	-211.27	-36.83
Asset Writedown & Restructuring Costs	-0.45	0.11	-1.48	-0.21	-1.28
Stock-Based Compensation	15.15	11.07	13.45	14.65	15.42
Other Operating Activities	-82.28	42.6	-24.43	62.1	-311.34
Change in Accounts Receivable	129.28	145.43	224.12	-59.11	-101.66
Change in Inventory	-0.31	8.1	6.53	-1.5	-1.23
Change in Accounts Payable	3.65	-154.09	-112.38	-96.77	154.29
Change in Other Net Operating Assets	9.83	12.13	-11.65	9.92	-9.46
Operating Cash Flow	977.79	1,063	1,014	971.65	855.35
Operating Cash Flow Growth	-7.99%	4.81%	4.34%	13.60%	40.02%
Capital Expenditures	-273.22	-392.82	-361.56	-350.82	-268.66
Sale of Property, Plant & Equipment	127.72	98.79	123.62	260.07	112.71
Cash Acquisitions	-201.26	-957.96	-628.7	-158.25	-1,008
Divestitures	-	-	-	546.23	-
Sale (Purchase) of Intangibles	-9.7	-6.27	-2.76	-5.87	-7.14
Investment in Securities	-4.76	19.07	47.51	-67.62	4.77
Other Investing Activities	-0.66	-5.42	24.57	-0.31	3.79
Investing Cash Flow	-361.88	-1,245	-797.33	223.42	-1,163
Short-Term Debt Issued	1.48	6.78	-	7.49	-
Long-Term Debt Issued	473.97	761.78	600.24	334.16	779.9
Total Debt Issued	475.45	768.56	600.24	341.65	779.9
Short-Term Debt Repaid	-	-	-	-	-7.17
Long-Term Debt Repaid	-490.63	-706.42	-179.05	-750.91	-170.42
Total Debt Repaid	-490.63	-706.42	-179.05	-750.91	-177.59
Net Debt Issued (Repaid)	-15.18	62.14	421.19	-409.25	602.31
Issuance of Common Stock	6.47	13.52	12.78	16.5	20.11
Repurchase of Common Stock	-242.71	-106.17	-334.61	-577.17	-214.73
Common Dividends Paid	-151.09	-133.93	-121.1	-97.32	-85.39
Financing Cash Flow	-402.5	-164.44	-21.73	-1,067	322.3
Foreign Exchange Rate Adjustments	-3.22	10.85	-6.34	-	-
Net Cash Flow	210.19	-335.56	188.44	127.83	15
Free Cash Flow	704.57	669.83	652.28	620.82	586.7
Free Cash Flow Growth	5.19%	2.69%	5.07%	5.82%	25.32%
Free Cash Flow Margin	8.94%	7.98%	8.67%	7.04%	8.13%
Free Cash Flow Per Share	8.45	7.86	7.49	6.80	6.15
Cash Interest Paid	153.6	157.06	70.35	77.51	65.45
Cash Income Tax Paid	118.39	150.55	233.35	224.18	188.81
Levered Free Cash Flow	645.46	526.6	571.35	542.59	438.73
Unlevered Free Cash Flow	736.62	621.58	618.52	583.53	475.9
Change in Working Capital	142.46	11.57	106.63	-147.45	41.94

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

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