Southwest Gas Holdings, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $439.8M | $198.8M | $150.9M | $-203.3M | $200.8M | $232.3M | $213.9M | $182.3M |
| Depreciation & Amortization | $330.7M | $303.1M | $295.5M | $470.5M | $371.0M | $332.0M | $303.2M | $249.2M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | $26.6M | $26.7M | $29.8M | $17.3M | $10.8M | $10.7M | $7.6M |
| Stock-Based Compensation | $14.6M | $11.4M | $6.2M | $9.4M | $9.3M | $7.1M | $6.9M | $6.1M |
| Net Cash from Operating Activities | $556.1M | $1.36B | $509.2M | $407.5M | $111.4M | $626.1M | $500.4M | $528.9M |
| Investing Activities | ||||||||
| Capital Expenditures | $807.9M | $846.6M | $765.9M | $859.4M | $715.6M | $825.1M | $938.1M | $765.9M |
| Business Acquisitions | — | $0 | $0 | $18.8M | $2.35B | $0 | $47.6M | $251.4M |
| Net Cash from Investing Activities | $-24.8M | $-921.6M | $151.0M | $-838.9M | $-3.04B | $-802.1M | $-951.6M | $-999.5M |
| Financing Activities | ||||||||
| Dividends Paid | $178.5M | $177.6M | $174.6M | $160.6M | $138.2M | $125.5M | $116.1M | $100.2M |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $-318.3M | $-176.3M | $-700.8M | $356.5M | $3.06B | $209.6M | $415.3M | $512.6M |
| Net Change in Cash | $212.9M | $257.3M | $-40.3M | $-75.8M | $139.3M | $33.8M | $-35.8M | $41.7M |
| Free Cash Flow | $-251.8M | $509.2M | $-256.7M | $-452.0M | $-604.2M | $-199.0M | $-437.8M | $-237.1M |