The Gap, Inc.
Cash Flow Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $816.0M | $844.0M | $502.0M | $-202.0M | $256.0M | $-665.0M | $351.0M | $1.00B |
| Depreciation & Amortization | $496.0M | $500.0M | $522.0M | $540.0M | $504.0M | $507.0M | $557.0M | $578.0M |
| Depreciation | $490.0M | $492.0M | $513.0M | $531.0M | $502.0M | $505.0M | $554.0M | $575.0M |
| Amortization | $6.0M | $8.0M | $9.0M | $9.0M | $2.0M | $2.0M | $0 | — |
| Stock-Based Compensation | $162.0M | $126.0M | $80.0M | $37.0M | $139.0M | $77.0M | $68.0M | $91.0M |
| Net Cash from Operating Activities | $1.29B | $1.49B | $1.53B | $607.0M | $809.0M | $237.0M | $1.41B | $1.38B |
| Investing Activities | ||||||||
| Capital Expenditures | $470.0M | $447.0M | $420.0M | $685.0M | $694.0M | $392.0M | $702.0M | $705.0M |
| Business Acquisitions | — | — | $0 | $0 | $135.0M | $0 | $69.0M | $0 |
| Net Cash from Investing Activities | $-600.0M | $-692.0M | $-334.0M | $-227.0M | $-446.0M | $-510.0M | $-894.0M | $-1.00B |
| Financing Activities | ||||||||
| Dividends Paid | $247.0M | $225.0M | $222.0M | $220.0M | $226.0M | $0 | $364.0M | $373.0M |
| Stock Repurchases | $155.0M | $75.0M | $0 | $123.0M | $201.0M | $0 | $200.0M | $398.0M |
| Net Cash from Financing Activities | $-419.0M | $-321.0M | $-567.0M | $6.0M | $-1.47B | $895.0M | $-560.0M | $-749.0M |
| Net Change in Cash | $279.0M | $464.0M | $628.0M | $371.0M | $-1.11B | $635.0M | $-39.0M | $-379.0M |
| Free Cash Flow | $823.0M | $1.04B | $1.11B | $-78.0M | $115.0M | $-155.0M | $709.0M | $676.0M |