Air Products and Chemicals, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-394.5M | $3.83B | $2.30B | $2.26B | $2.10B | $1.89B | $1.76B | $1.50B |
| Depreciation & Amortization | $1.56B | $1.45B | $1.36B | $1.34B | $1.32B | $1.19B | $1.08B | $970.7M |
| Depreciation | $1.53B | $1.42B | $1.33B | $1.30B | $1.28B | $1.15B | $1.05B | $940.7M |
| Amortization | $37.3M | $31.5M | $32.5M | $35.5M | $37.2M | $34.5M | $33.1M | $30.0M |
| Stock-Based Compensation | $76.4M | $61.8M | $59.9M | $48.4M | $44.5M | $53.5M | $41.2M | $38.8M |
| Net Cash from Operating Activities | $3.26B | $3.65B | $3.21B | $3.17B | $3.34B | $3.26B | $2.97B | $2.55B |
| Investing Activities | ||||||||
| Capital Expenditures | $7.02B | $6.80B | $4.63B | $2.93B | $2.46B | $2.51B | $1.99B | $1.57B |
| Business Acquisitions | $59.9M | $0 | $0 | $65.1M | $10.5M | $183.3M | $123.2M | $345.4M |
| Net Cash from Investing Activities | — | — | — | — | — | — | — | — |
| Financing Activities | ||||||||
| Dividends Paid | $1.58B | $1.56B | $1.50B | $1.38B | $1.26B | $1.10B | $994.0M | $897.8M |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | — | — | — | — | — | — | — | — |
| Net Change in Cash | $-1.12B | $1.36B | $-1.09B | $-1.76B | $-784.1M | $3.00B | $-542.6M | $-482.3M |
| Free Cash Flow | $-3.77B | $-3.15B | $-1.42B | $244.1M | $871.0M | $755.7M | $980.2M | $978.8M |