Willis Towers Watson 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	Mar '26 Mar 31, 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	1,677	1,613	-88	1,064	1,024	4,236
Depreciation & Amortization	420	418	456	505	567	650
Stock-Based Compensation	158	153	121	125	99	101
Other Adjustments	214	302	1,349	22	10	-2,477
Change in Receivables	-215	-128	-233	-206	-188	-134
Changes in Other Operating Activities	-454	-583	-93	-165	-700	-315
Operating Cash Flow	1,800	1,775	1,512	1,345	812	2,061
Operating Cash Flow Growth	23.88%	17.39%	12.42%	65.64%	-60.60%	16.18%
Capital Expenditures	-233	-229	-245	-242	-138	-148
Purchases of Intangible Assets	-	-	-	-	-66	-53
Purchases of Investments	-	-90	-12	-4	-	-
Proceeds from Sale of Investments	16	-	-	-	200	-200
Cash Acquisitions	-806	-15	-104	-6	-81	-47
Proceeds from Business Divestments	-	870	619	89	-59	4,048
Other Investing Activities	-43	-89	-8	-922	-29	-1,030
Investing Cash Flow	-309	447	250	-1,085	-173	2,570
Long-Term Debt Issued	550	999	746	748	750	-
Long-Term Debt Repaid	-555	-5	-655	-254	-585	-1,008
Net Long-Term Debt Issued (Repaid)	-5	994	91	494	165	-1,008
Issuance of Common Stock	-	-	-	-	7	10
Repurchase of Common Stock	-1,750	-1,650	-901	-1,000	-3,530	-1,627
Net Common Stock Issued (Repurchased)	-1,750	-1,650	-901	-1,000	-3,523	-1,617
Common Dividends Paid	-358	-358	-354	-352	-369	-374
Other Financing Activities	-7	78	705	-342	282	-115
Financing Cash Flow	-1,163	-936	-459	-1,200	-3,445	-3,114
Effect of Exchange Rate Changes on Cash and Cash Equivalents	94	203	-97	11	-164	-127
Net Cash Flow	328	1,286	1,303	-940	-2,806	1,517
Free Cash Flow	1,567	1,546	1,267	1,103	674	1,913
Free Cash Flow Growth	28.76%	22.02%	14.87%	63.65%	-64.77%	23.34%
FCF Margin	15.83%	15.93%	12.76%	11.63%	7.60%	21.26%
Free Cash Flow Per Share	16.03	15.62	12.42	10.41	6.02	14.83
Levered Free Cash Flow	1,395	2,205	111	1,647	903	3,401
Unlevered Free Cash Flow	1,624	1,476	-412.54	1,233	725.34	1,951

SEC Filings: 10-K · 10-Q