UL Solutions 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	529	345	345	276	309	238
Depreciation & Amortization	190	188	172	154	135	142
Stock-Based Compensation	61	47	23	-	-	-
Other Adjustments	-138	31	38	18	36	-60
Change in Receivables	-69	-32	-31	6	-15	-1
Changes in Accounts Payable	15	-13	13	1	-18	30
Changes in Accrued Expenses	108	80	7	-28	-85	83
Changes in Other Operating Activities	-29	-46	-6	3	10	-11
Operating Cash Flow	678	600	524	467	372	421
Operating Cash Flow Growth	16.70%	14.50%	12.21%	25.54%	-11.64%	-13.55%
Capital Expenditures	-242	-197	-237	-215	-164	-107
Purchases of Investments	-44	-58	-	-95	-162	-172
Proceeds from Sale of Investments	58	51	-	144	155	495
Cash Acquisitions	-	-1	-26	-18	-66	-47
Proceeds from Business Divestments	199	-	29	4	-	-
Other Investing Activities	3	1	-	5	-1	9
Investing Cash Flow	-27	-204	-234	-175	-238	178
Long-Term Debt Issued	829	792	181	440	700	-
Long-Term Debt Repaid	-1,138	-1,045	-346	-30	-200	-
Net Long-Term Debt Issued (Repaid)	-309	-253	-165	410	500	-
Common Dividends Paid	-110	-104	-100	-680	-1,600	-200
Other Financing Activities	-64	-39	-19	-24	-16	-28
Financing Cash Flow	-483	-396	-284	-294	-1,116	-228
Foreign Exchange Rate Adjustments	-6	-3	-23	-5	-24	-14
Net Cash Flow	162	-3	-17	-7	-1,006	357
Free Cash Flow	436	403	287	252	208	314
Free Cash Flow Growth	19.78%	40.42%	13.89%	21.15%	-33.76%	-35.52%
FCF Margin	13.86%	13.20%	10.00%	9.41%	8.25%	12.48%
Free Cash Flow Per Share	2.14	1.99	1.43	1.26	1.04	8.53
Levered Free Cash Flow	238	84	110	585	671	361
Unlevered Free Cash Flow	455.28	395.17	333.07	208.55	210.4	386.29

SEC Filings: 10-K · 10-Q