Cash Flow Statement

Operating Cash Flow

-22%

+88%

10Y

Currency: USD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Operating Cash Flow
Net Income	260	272	276	266	272	295	317	334	335	333	290	240	204	165	152	165	185	217	259	346	217	221	294	(1 151)	(1 565)	(1 627)	(1 560)	(200)	323	400	179	248	233	224	372	346	356	416	430	539	564	556	611	643	621	661	608	627	636	584	924	933	873	914	844	848	805	806	257	480	533	661	869	696	717	457	546	353	240	34	48	17	63	271	266	(670)	(1 728)	(2 047)	(1 921)	(1 269)	168	761	804	2 079	1 904	1 854	1 832	55	(56)	(647)	(883)	(634)	(3 790)	(3 468)	(3 691)	(3 515)
Depreciation & Amortization	46	45	42	41	41	41	42	43	44	45	45	45	45	46	47	47	47	47	47	49	62	77	92	158	268	351	431	425	409	399	394	401	409	413	414	423	440	463	499	511	515	512	542	547	552	547	503	516	522	533	540	567	606	736	860	1 032	1 154	1 199	1 387	1 523	1 641	1 759	1 756	1 806	1 889	1 970	2 027	2 110	2 112	2 111	2 081	2 019	1 934	1 848	1 811	2 216	3 224	4 125	4 710	4 507	3 820	3 225	2 908	3 028	3 022	2 986	2 966	2 741	2 702	2 801	2 791	2 893	2 867	2 759	2 778	2 798
Change in Deffered Taxes	(37)	(29)	(38)	(31)	(22)	(0)	13	18	32	7	11	5	(37)	(48)	(44)	(50)	(24)	(22)	(19)	(12)	(51)	(47)	(34)	(77)	(296)	(271)	(162)	(194)	2	(65)	(199)	(155)	(210)	(135)	(151)	11	97	14	91	(57)	(70)	(61)	(133)	(109)	(135)	(69)	(67)	(87)	(64)	(163)	(306)	(315)	(294)	(299)	(127)	(116)	(90)	(132)	(410)	(610)	(612)	(647)	(236)	(111)	(131)	(47)	(279)	(264)	(274)	(257)	(272)	(193)	(243)	(255)	(245)	(213)	119	488	726	676	335	(64)	(232)	(26)	0	37	(26)	(387)	(412)	(499)	(726)	(768)	(759)	(652)	(477)	(477)
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	17	24	33	41	31	32	30	31	31	30	32	32	31	34	37	40	43	45	44	42	43	42	43	47	47	50	56	59	66	85	84	84	93	85	94	98	89	86	79	82	75	73	53	2	(3)	(7)	11	56	57	58	57	56	79	93	108	118	111	107	105	109	116	131	141	155	181	185	180	170	146	155	157	161	0
Other Non-Cash Items	81	61	103	76	112	73	44	12	(72)	1	(24)	(2)	136	133	155	162	94	85	88	10	197	226	145	1 285	1 671	1 690	1 747	544	205	160	341	375	360	448	276	294	358	267	237	199	236	398	498	541	401	283	453	540	770	1 025	980	1 012	821	731	1 038	907	1 015	957	1 244	1 463	1 489	1 348	719	357	292	463	243	333	263	183	317	468	512	505	501	595	629	746	809	909	873	636	715	(1 205)	(1 202)	(1 158)	(1 473)	1 203	1 077	1 532	1 868	1 130	4 260	4 337	4 297	4 195
Cash Taxes Paid	152	172	158	161	171	170	183	172	157	119	181	191	124	146	127	114	138	107	124	150	176	0	0	179	0	0	0	218	0	0	0	272	0	0	0	115	0	0	0	124	0	0	0	309	0	0	0	190	0	0	0	211	0	0	0	303	0	0	0	286	0	0	0	286	0	0	0	229	0	0	0	279	0	0	0	324	0	0	0	642	0	0	0	735	0	0	0	571	0	0	0	514	0	0	0	445
Cash Interest Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	5	29	33	51	49	60	0	0	174	0	0	0	308	0	0	0	223	0	0	0	144	0	0	0	285	0	0	0	247	0	0	0	249	0	0	0	274	0	0	0	255	0	0	0	357	0	0	0	474	0	0	0	461	0	0	0	471	0	0	0	555	0	0	0	685	0	0	0	643	0	0	0	612	0	0	0	561	0	0	0	493
Change in Working Capital	(4)	(38)	(96)	(56)	(90)	(86)	(155)	(139)	(114)	(41)	(13)	(50)	(144)	(135)	(68)	(25)	114	76	2	(43)	(35)	(95)	(174)	(46)	421	102	(128)	(191)	(759)	(336)	(33)	(265)	(73)	(322)	(115)	(142)	(605)	(444)	(636)	(470)	(586)	(633)	(566)	(673)	(295)	(394)	(517)	(489)	(577)	(699)	(832)	(1 182)	(992)	(1 134)	(1 131)	(662)	(1 062)	(705)	(128)	(810)	(630)	(550)	(1 190)	(682)	(533)	(747)	(335)	(189)	(661)	(153)	(420)	(508)	(130)	(524)	(451)	(696)	(454)	(1 343)	(1 794)	(1 805)	(1 889)	(1 009)	(861)	(923)	(939)	(1 221)	(836)	(711)	(867)	(881)	(750)	(319)	(354)	(911)	(924)	(686)
Cash from Operating Activities	347 N/A	311 -10%	287 -8%	295 +3%	313 +6%	322 +3%	262 -19%	268 +2%	226 -16%	344 +53%	309 -10%	239 -23%	204 -15%	161 -21%	241 +50%	299 +24%	417 +39%	403 -3%	378 -6%	350 -7%	390 +12%	382 -2%	323 -16%	168 -48%	498 +197%	245 -51%	328 +34%	384 +17%	180 -53%	558 +210%	682 +22%	605 -11%	720 +19%	628 -13%	795 +27%	931 +17%	645 -31%	716 +11%	621 -13%	720 +16%	659 -9%	773 +17%	952 +23%	949 0%	1 144 +21%	1 027 -10%	980 -5%	1 107 +13%	1 287 +16%	1 280 -1%	1 306 +2%	1 015 -22%	1 014 0%	949 -6%	1 483 +56%	2 009 +35%	1 822 -9%	2 124 +17%	2 350 +11%	2 047 -13%	2 420 +18%	2 571 +6%	1 919 -25%	2 065 +8%	2 234 +8%	2 096 -6%	2 201 +5%	2 342 +6%	1 680 -28%	1 919 +14%	1 753 -9%	1 804 +3%	2 135 +18%	1 845 -14%	1 882 +2%	1 232 -35%	1 790 +45%	1 969 +10%	2 530 +28%	3 017 +19%	3 307 +10%	3 550 +7%	3 333 -6%	2 953 -11%	2 785 -6%	2 498 -10%	2 463 -1%	2 900 +18%	2 443 -16%	2 307 -6%	2 300 0%	2 303 +0%	2 224 -3%	2 064 -7%	1 983 -4%	2 316 +17%
Investing Cash Flow
Capital Expenditures	(21)	(23)	(27)	(29)	(33)	(39)	(57)	(103)	(119)	(124)	(118)	(84)	(91)	(97)	(104)	(110)	(104)	(110)	(107)	(113)	(162)	(163)	(172)	(111)	(164)	(168)	(152)	(165)	(146)	(134)	(148)	(154)	(149)	(157)	(164)	(193)	(205)	(245)	(267)	(280)	(347)	(343)	(349)	(305)	(255)	(273)	(325)	(395)	(539)	(545)	(736)	(754)	(613)	(704)	(768)	(872)	(970)	(935)	(696)	(751)	(730)	(1 038)	(1 030)	(896)	(1 133)	(998)	(1 173)	(1 196)	(891)	(732)	(490)	(406)	(448)	(344)	(343)	(681)	(624)	(673)	(746)	(509)	(528)	(515)	(499)	(443)	(454)	(453)	(440)	(475)	(443)	(423)	(407)	(347)	(372)	(357)	(371)	(465)
Other Items	(387)	(339)	(187)	(10)	49	95	41	(84)	(132)	(181)	(208)	(82)	(84)	94	224	266	299	128	(5)	(5)	(569)	(524)	(375)	(6 925)	(6 923)	(6 919)	(7 030)	12	15	(142)	(188)	(181)	(184)	(26)	(509)	(533)	(536)	(538)	9	(52)	(50)	(44)	(48)	(59)	(144)	(157)	(185)	(1 473)	(1 388)	(1 412)	(1 487)	(46)	(74)	(45)	46	(698)	(673)	(1 668)	(7 316)	(6 927)	(6 965)	(5 967)	(322)	(80)	(96)	(82)	(83)	(15)	34	20	(96)	(119)	(147)	(168)	(50)	380	705	812	825	392	107	28	15	1 964	1 292	1 297	1 344	(390)	274	707	2 492	2 148	2 262	1 819	(14)	37
Cash from Investing Activities	(407) N/A	(362) +11%	(214) +41%	(39) +82%	16 N/A	56 +242%	(16) N/A	(188) -1 057%	(250) -33%	(305) -22%	(326) -7%	(166) +49%	(175) -6%	(3) +99%	120 N/A	157 +31%	195 +25%	18 -91%	(113) N/A	(117) -4%	(731) -524%	(687) +6%	(548) +20%	(7 035) -1 185%	(7 087) -1%	(7 087) 0%	(7 182) -1%	(153) +98%	(131) +14%	(276) -111%	(337) -22%	(335) +0%	(333) +1%	(183) +45%	(673) -267%	(725) -8%	(741) -2%	(783) -6%	(258) +67%	(332) -29%	(397) -20%	(386) +3%	(397) -3%	(364) +8%	(398) -9%	(430) -8%	(510) -19%	(1 869) -267%	(1 928) -3%	(1 957) -2%	(2 223) -14%	(800) +64%	(687) +14%	(749) -9%	(723) +3%	(1 570) -117%	(1 642) -5%	(2 603) -59%	(8 012) -208%	(7 678) +4%	(7 695) 0%	(7 005) +9%	(1 352) +81%	(976) +28%	(1 229) -26%	(1 080) +12%	(1 256) -16%	(1 210) +4%	(857) +29%	(712) +17%	(587) +18%	(525) +10%	(595) -13%	(512) +14%	(393) +23%	(301) +23%	81 N/A	139 +71%	79 -43%	(118) N/A	(421) -257%	(486) -16%	(483) +1%	1 521 N/A	838 -45%	843 +1%	905 +7%	(865) N/A	(169) +80%	284 N/A	2 085 +636%	1 801 -14%	1 890 +5%	1 462 -23%	(385) N/A	(428) -11%
Financing Cash Flow
Net Issuance of Common Stock	21	(19)	(31)	(131)	(210)	(232)	(244)	(179)	(106)	(44)	(19)	12	10	12	(1 062)	(1 183)	(1 201)	(1 200)	(115)	19	753	753	738	2 830	2 830	2 824	2 886	64	64	65	9	20	44	54	48	55	53	(270)	(268)	(282)	(288)	(466)	(445)	(856)	(1 345)	(845)	(852)	(924)	(430)	(433)	(446)	54	99	110	112	30	(34)	(49)	(52)	14	15	16	16	(482)	(909)	(910)	(912)	(414)	9	8	10	8	6	5	1	1	0	0	0	0	0	1	3	3	(246)	(246)	(247)	(247)	(247)	(247)	(248)	(248)	(173)	(348)	(413)	(498)
Net Issuance of Debt	(8)	(8)	0	(5)	0	0	0	0	0	0	0	0	0	0	775	774	688	688	(88)	(87)	866	863	682	3 338	3 303	3 315	3 759	83	(40)	(80)	(300)	(335)	(224)	82	31	214	254	(10)	11	(202)	(123)	181	(262)	227	625	196	407	1 636	1 034	1 028	1 364	(169)	(199)	(478)	(2 307)	(1 274)	(1 047)	5 322	6 501	5 497	4 864	(1 350)	(1 245)	(1 360)	(482)	(388)	(187)	(632)	(943)	(1 315)	(1 218)	(1 103)	(1 101)	(1 133)	(1 006)	(401)	(1 465)	(996)	(1 730)	(2 099)	(1 873)	(2 413)	(2 294)	(3 280)	(2 988)	(2 542)	(1 951)	(1 250)	(704)	(1 324)	(2 838)	(3 714)	(3 712)	(2 911)	(1 374)	0
Cash Paid for Dividends	(20)	(20)	(20)	(20)	(21)	(22)	(23)	(24)	(26)	(28)	(30)	(32)	(32)	(32)	(41)	(45)	(50)	(54)	(51)	(51)	(51)	(53)	(55)	(30)	(63)	(83)	(103)	(138)	(139)	(139)	(139)	(139)	(139)	(139)	(139)	(139)	(104)	(70)	(35)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(133)	(266)	(399)	(544)	(557)	(569)	(582)	(580)	(579)	(577)	(576)	(575)	(576)	(576)	(575)	(575)	(570)	(566)	(561)
Other	0	0	0	0	0	0	0	0	10	0	10	10	20	20	11	(24)	(37)	(44)	(34)	2	(126)	(100)	(99)	(69)	(69)	(88)	(265)	(176)	(175)	(176)	(1)	0	(1)	(20)	(24)	(29)	(28)	(5)	(149)	(161)	(160)	(161)	(12)	18	23	12	2	(19)	(32)	(22)	(162)	(153)	(162)	442	1 863	1 849	1 825	1 139	(137)	(166)	(141)	(72)	(70)	(51)	(48)	(54)	(56)	(45)	(76)	(66)	(74)	(74)	(59)	(78)	(214)	(205)	(215)	(653)	(517)	(514)	(504)	(46)	(36)	(20)	(30)	(1)	68	(230)	(227)	(149)	(176)	206	89	(58)	(125)	(235)
Cash from Financing Activities	(7) N/A	(47) -534%	(58) -23%	(156) -171%	(231) -48%	(255) -10%	(267) -5%	(204) +24%	(123) +40%	(63) +49%	(40) +37%	(11) +73%	(3) +76%	(1) +73%	(317) -45 157%	(479) -51%	(599) -25%	(610) -2%	(288) +53%	(116) +60%	1 443 N/A	1 463 +1%	1 266 -13%	6 069 +379%	6 000 -1%	5 968 -1%	6 277 +5%	(167) N/A	(290) -74%	(331) -14%	(431) -30%	(454) -6%	(319) +30%	(23) +93%	(83) -259%	100 N/A	175 +75%	(354) N/A	(440) -24%	(645) -47%	(571) +11%	(445) +22%	(718) -61%	(612) +15%	(697) -14%	(637) +9%	(442) +31%	693 N/A	572 -17%	573 +0%	755 +32%	(267) N/A	(262) +2%	74 N/A	(332) N/A	605 N/A	744 +23%	6 412 +761%	6 313 -2%	5 345 -15%	4 738 -11%	(1 407) N/A	(1 299) +8%	(1 893) -46%	(1 439) +24%	(1 352) +6%	(1 154) +15%	(1 091) +5%	(1 010) +7%	(1 373) -36%	(1 281) +7%	(1 169) +9%	(1 154) +1%	(1 206) -5%	(1 219) -1%	(606) +50%	(1 681) -177%	(1 782) -6%	(2 514) -41%	(3 012) -20%	(2 921) +3%	(3 015) -3%	(2 897) +4%	(3 878) -34%	(3 844) +1%	(3 368) +12%	(2 706) +20%	(2 302) +15%	(1 753) +24%	(2 297) -31%	(3 836) -67%	(4 330) -13%	(4 372) -1%	(3 886) +11%	(2 478) +36%	(1 294) +48%
Change in Cash
Effect of Foreign Exchange Rates	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4	3	31	29	37	28	8	2	(1)	14	8	2	(42)	(13)	(25)	6	47	(21)	(30)	(41)	(62)	(18)	2	(12)	2	5	11	18	20	(4)	(13)	(31)	(28)	(41)	(33)	(2)	(10)	19	(10)	(10)	21	19	28	19	(28)	(39)	(21)	(28)	(6)	(15)	(8)	(28)	(15)	23	34	36	28	(1)	(31)	(20)	(58)	(65)	(39)	(26)	(12)	0	(3)	(16)	(6)	20	(31)	(2)	10	4	18
Net Change in Cash	(68) N/A	(99) -44%	15 N/A	100 +586%	98 -2%	123 +25%	(21) N/A	(123) -480%	(147) -20%	(23) +84%	(56) -144%	63 N/A	26 -58%	158 +502%	44 -72%	(23) N/A	12 N/A	(189) N/A	(22) +88%	117 N/A	1 102 +846%	1 162 +5%	1 044 -10%	(768) N/A	(560) +27%	(837) -50%	(548) +35%	73 N/A	(240) N/A	(49) +80%	(71) -45%	(177) -148%	69 N/A	380 +447%	26 -93%	282 +967%	86 -70%	(374) N/A	(98) +74%	(287) -193%	(350) -22%	(121) +66%	(180) -50%	(25) +86%	37 N/A	(37) N/A	33 N/A	(59) N/A	(51) +12%	(83) -62%	(165) -98%	(66) +60%	34 N/A	246 +619%	387 +58%	1 011 +161%	922 -9%	5 922 +542%	670 -89%	(296) N/A	(546) -85%	(5 820) -965%	(712) +88%	(777) -9%	(415) +47%	(365) +12%	(248) +32%	19 N/A	(214) N/A	(172) +20%	(129) +25%	102 N/A	357 +251%	112 -69%	293 +161%	359 +23%	225 -37%	354 +57%	95 -73%	(144) N/A	(56) +61%	(10) +83%	(111) -1 047%	556 N/A	(247) N/A	(38) +85%	661 N/A	(269) N/A	505 N/A	287 -43%	568 +98%	(258) N/A	(260) -1%	(351) -35%	(877) -150%	612 N/A
Free Cash Flow
Free Cash Flow	326 N/A	287 -12%	260 -10%	267 +3%	281 +5%	283 +1%	205 -28%	165 -20%	107 -35%	220 +106%	191 -13%	155 -19%	113 -27%	64 -43%	137 +115%	190 +38%	313 +65%	293 -6%	271 -8%	237 -12%	228 -4%	219 -4%	150 -31%	57 -62%	334 +484%	77 -77%	176 +129%	219 +24%	35 -84%	425 +1 131%	534 +26%	451 -16%	570 +27%	471 -17%	631 +34%	739 +17%	440 -40%	471 +7%	354 -25%	441 +25%	312 -29%	430 +38%	604 +40%	644 +7%	889 +38%	755 -15%	655 -13%	711 +9%	748 +5%	735 -2%	570 -22%	260 -54%	401 +54%	245 -39%	715 +191%	1 137 +59%	853 -25%	1 189 +39%	1 654 +39%	1 297 -22%	1 690 +30%	1 533 -9%	889 -42%	1 169 +31%	1 101 -6%	1 098 0%	1 029 -6%	1 146 +11%	789 -31%	1 187 +50%	1 263 +6%	1 398 +11%	1 687 +21%	1 502 -11%	1 539 +2%	551 -64%	1 166 +112%	1 296 +11%	1 784 +38%	2 508 +41%	2 779 +11%	3 035 +9%	2 835 -7%	2 510 -11%	2 332 -7%	2 045 -12%	2 023 -1%	2 426 +20%	2 000 -18%	1 884 -6%	1 893 +0%	1 956 +3%	1 851 -5%	1 707 -8%	1 612 -6%	1 851 +15%

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Viatris Inc
NASDAQ:VTRS

Cash Flow Statement

Cash Flow Statement
Viatris Inc

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Viatris Inc NASDAQ:VTRS

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Cash Flow Statement Viatris Inc

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Viatris Inc
NASDAQ:VTRS

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Viatris Inc