BATH & BODY WORKS, INC.
Cash Flow Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $649.0M | $798.0M | $878.0M | $800.0M | $1.33B | $844.0M | $-366.0M | $644.0M |
| Depreciation & Amortization | — | — | — | — | — | $521.0M | $588.0M | $547.0M |
| Depreciation | $254.0M | $282.0M | $269.0M | $221.0M | $363.0M | $521.0M | $588.0M | $590.0M |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $31.0M | $40.0M | $43.0M | $38.0M | $46.0M | $50.0M | $87.0M | $97.0M |
| Net Cash from Operating Activities | $1.10B | $886.0M | $954.0M | $1.14B | $1.49B | $2.04B | $1.24B | $1.38B |
| Investing Activities | ||||||||
| Capital Expenditures | $237.0M | $226.0M | $298.0M | $328.0M | $270.0M | $228.0M | $458.0M | $629.0M |
| Business Acquisitions | — | — | — | — | — | — | — | $0 |
| Net Cash from Investing Activities | $-227.0M | $-162.0M | $-286.0M | $-328.0M | $-259.0M | $-219.0M | $-480.0M | $-609.0M |
| Financing Activities | ||||||||
| Dividends Paid | $167.0M | $177.0M | $182.0M | $186.0M | $120.0M | $83.0M | $332.0M | $666.0M |
| Stock Repurchases | $401.0M | $401.0M | $148.0M | $1.31B | $1.96B | $0 | $0 | $198.0M |
| Net Cash from Financing Activities | $-599.0M | $-1.13B | $-815.0M | $-1.56B | $-3.19B | $610.0M | $-666.0M | $-872.0M |
| Net Change in Cash | $279.0M | $-410.0M | $-148.0M | $-747.0M | $-1.95B | $2.43B | $86.0M | $-102.0M |
| Free Cash Flow | $865.0M | $660.0M | $656.0M | $816.0M | $1.22B | $1.81B | $778.0M | $748.0M |