XPO Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $316.0M | $387.0M | $189.0M | $666.0M | $336.0M | $110.0M | $419.0M | $422.0M |
| Depreciation & Amortization | $467.0M | $432.0M | $376.0M | $336.0M | $327.0M | $321.0M | $370.0M | $546.0M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $58.0M | $57.0M | $54.0M | $54.0M | $56.0M | $55.0M | $96.0M | $159.0M |
| Stock-Based Compensation | $77.0M | $87.0M | $78.0M | $77.0M | $31.0M | $37.0M | $56.0M | $49.0M |
| Net Cash from Operating Activities | $986.0M | $808.0M | $694.0M | $824.0M | $656.0M | $388.0M | $629.0M | $1.10B |
| Investing Activities | ||||||||
| Capital Expenditures | $657.0M | $789.0M | $1.53B | $521.0M | $269.0M | $249.0M | $379.0M | $551.0M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | — | — | — | — | $-184.0M | $-116.0M | $-67.0M | $-400.0M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | $8.0M | $8.0M |
| Stock Repurchases | $125.0M | $0 | $0 | — | — | $114.0M | $1.35B | $536.0M |
| Net Cash from Financing Activities | — | — | — | — | $-1.93B | $1.15B | $-201.0M | $-620.0M |
| Net Change in Cash | $31.0M | $-120.0M | $-51.0M | $197.0M | $-1.79B | $1.68B | $-127.0M | $65.0M |
| Free Cash Flow | $329.0M | $19.0M | $-839.0M | $303.0M | $387.0M | $139.0M | $250.0M | $551.0M |
Abnormally good or abnormally bad conditions do not last forever.