Pershing Square Holdings Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	2020 - 2016
Net Income	2,525	1,174	2,486	-1,172	2,436	Upgrade
Other Amortization	4.46	2.98	2.97	3.65	4	Upgrade
Other Operating Activities	119.9	-34.1	16.38	-49.86	-0.02	Upgrade
Change in Accounts Receivable	14.54	-12.46	-2.32	-3.7	-1.43	Upgrade
Change in Accounts Payable	259.88	-86.83	310.19	-459.76	-228.78	Upgrade
Change in Other Net Operating Assets	-85.91	121.24	356.95	-342.21	751.18	Upgrade
Operating Cash Flow	-29.72	-1,266	1,080	366.04	-914.29	Upgrade
Operating Cash Flow Growth	-	-	195.11%	-	-	Upgrade
Long-Term Debt Issued	1,238	-	-	-	1,277	Upgrade
Long-Term Debt Repaid	-	-	-	-630.62	-	Upgrade
Net Debt Issued (Repaid)	1,238	-	-	-630.62	1,277	Upgrade
Repurchase of Common Stock	-371.13	-119.62	-199.96	-262.42	-0	Upgrade
Common Dividends Paid	-118.12	-107.17	-98.78	-93.27	-79.65	Upgrade
Other Financing Activities	-14.06	-	-	-0.06	-394.81	Upgrade
Financing Cash Flow	734.7	-226.79	-298.74	-986.37	802.43	Upgrade
Net Cash Flow	704.98	-1,492	781.48	-620.33	-111.86	Upgrade
Cash Interest Paid	81.85	75.62	87.69	114.29	108.49	Upgrade
Levered Free Cash Flow	1,889	527.8	2,443	-1,593	2,124	Upgrade
Unlevered Free Cash Flow	1,955	573.13	2,496	-1,532	2,186	Upgrade
Change in Working Capital	-2,679	-2,408	-1,425	1,584	-3,355	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.