Aon plc
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $3.70B | $2.65B | $2.56B | $2.59B | $1.26B | $1.97B | $1.53B | $1.17B |
| Depreciation & Amortization | — | — | — | — | — | — | — | $176.0M |
| Depreciation | $188.0M | $183.0M | $167.0M | $151.0M | $179.0M | $167.0M | $172.0M | $176.0M |
| Amortization | — | — | — | — | — | — | — | $593.0M |
| Stock-Based Compensation | $432.0M | $474.0M | $438.0M | $397.0M | $449.0M | $312.0M | $317.0M | $338.0M |
| Net Cash from Operating Activities | $3.48B | $3.04B | $3.44B | $3.22B | $2.18B | $2.78B | $1.84B | $1.69B |
| Investing Activities | ||||||||
| Capital Expenditures | $263.0M | $218.0M | $252.0M | $196.0M | $137.0M | $141.0M | $225.0M | $240.0M |
| Business Acquisitions | $394.0M | $3.51B | $35.0M | $162.0M | $14.0M | $368.0M | $39.0M | $58.0M |
| Net Cash from Investing Activities | $286.0M | $-2.83B | $-188.0M | $-449.0M | $49.0M | $-679.0M | $-229.0M | $31.0M |
| Financing Activities | ||||||||
| Dividends Paid | $629.0M | $562.0M | $489.0M | $463.0M | $447.0M | $412.0M | $410.0M | $382.0M |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $-4.21B | $796.0M | $-2.87B | $-1.79B | $-1.92B | $-1.77B | $-247.0M | $-1.70B |
| Net Change in Cash | $240.0M | $611.0M | $646.0M | $431.0M | $72.0M | $629.0M | $1.42B | $-100.0M |
| Free Cash Flow | $3.22B | $2.82B | $3.18B | $3.02B | $2.05B | $2.64B | $1.61B | $1.45B |