Cash Flow Statement

Operating Cash Flow

+67%

+29%

10Y

Currency: USD

	Dec-2001	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
Operating Cash Flow
Net Income	188	179	182	197	210	230	246	261	261	267	273	276	283	291	299	306	320	328	340	352	369	380	397	401	429	443	471	483	448	403	364	383	419	457	487	516	531	529	526	506	463	414	471	556	701	818	851	919	974	1 007	1 106	1 169	1 222	1 263	1 257	1 138	1 017	1 014	969	1 098	1 247	1 272	1 305	1 322	1 519	1 510	1 567	1 609	1 440	1 493	1 511	1 542	1 576	1 566	1 334	1 114	985	891	1 064	1 144	1 144	1 122	1 121	1 145	1 109	1 172	1 194	1 252	1 393	1 572	1 732	2 063	2 132	2 122	2 155	2 004
Depreciation & Amortization	163	177	188	201	223	224	231	236	228	234	237	240	247	276	280	282	257	266	286	290	269	273	294	307	292	307	319	331	335	330	330	328	334	340	347	345	348	353	358	373	396	521	603	684	715	723	749	783	816	848	862	868	872	872	872	865	860	855	845	851	851	855	867	878	893	908	922	928	938	946	956	966	973	984	886	850	813	778	837	835	843	863	892	918	939	938	933	930	924	924	930	930	935	937	943	956
Change in Deffered Taxes	(3)	(3)	(5)	(8)	50	49	52	55	37	37	31	25	14	11	14	22	(13)	(11)	(3)	(11)	(19)	(12)	(25)	(25)	3	(7)	2	78	81	92	89	30	88	85	84	71	(31)	(33)	(23)	(31)	42	23	8	53	(3)	(11)	(56)	(121)	(131)	(112)	(102)	(107)	(122)	(110)	(106)	(219)	(245)	(207)	(238)	(124)	(91)	(128)	(77)	(26)	(354)	(344)	(306)	(307)	85	67	49	46	(38)	(38)	(60)	(72)	(46)	2	19	24	(1)	(60)	(98)	(160)	(143)	(145)	(122)	(82)	(56)	(112)	(157)	(160)	(191)	(137)	(114)	(98)
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	36	44	54	61	38	38	36	36	34	34	33	34	37	34	37	35	29	36	36	36	40	50	57	63	66	66	67	69	70	71	73	71	71	74	76	76	78	82	85	86	86	88	90	90	91	93	95	94	88	87	82	80	84	79	82	81	82	86	87	90	90	86	83	84	88	91	94	94	95	111	119	131	135	130	128	135
Other Non-Cash Items	6	14	7	12	10	5	4	(6)	16	28	35	53	36	33	34	25	27	19	16	18	18	21	20	23	53	67	62	(12)	(14)	(32)	2	9	(114)	(91)	(99)	(26)	58	(32)	(18)	(3)	11	114	(57)	(84)	(142)	(132)	37	43	97	53	25	12	26	35	100	252	447	444	272	97	(97)	(88)	67	25	(10)	(8)	(30)	120	134	158	158	(26)	(12)	(39)	99	291	318	315	174	110	75	65	45	42	160	153	169	120	(12)	31	31	(302)	(239)	(228)	(236)	122
Cash Taxes Paid	99	0	0	0	95	0	0	0	90	0	0	0	163	0	0	0	165	0	0	0	182	0	0	0	161	0	0	0	100	0	0	0	144	0	0	0	210	0	0	0	224	0	0	0	223	0	0	0	434	0	0	0	522	0	0	0	533	0	0	0	359	0	0	0	403	0	0	0	395	0	0	0	356	0	0	0	367	0	0	0	276	0	0	0	309	0	0	0	469	0	0	0	647	0	0	0
Cash Interest Paid	26	0	0	0	45	0	0	0	47	0	0	0	47	0	0	0	49	0	0	0	51	0	0	0	76	0	0	0	64	0	0	0	66	0	0	0	63	0	0	0	71	0	0	0	279	0	0	0	259	0	0	0	256	0	0	0	237	0	0	0	267	0	0	0	239	0	0	0	206	0	0	0	189	0	0	0	263	0	0	0	209	0	0	0	222	0	0	0	325	0	0	0	343	0	0	0
Change in Working Capital	10	30	85	95	(70)	(108)	(109)	(93)	(18)	(17)	(43)	(56)	(9)	(43)	(33)	(30)	0	(64)	(73)	(51)	(9)	52	89	86	21	39	(53)	(131)	(97)	(149)	(42)	39	(32)	13	(58)	(105)	44	54	45	7	(226)	(292)	(391)	(303)	(68)	(119)	(195)	(213)	(197)	(208)	(192)	(166)	(183)	(347)	(203)	30	(79)	254	391	174	30	(17)	(237)	(306)	43	87	(136)	(253)	(320)	(495)	(265)	(102)	(79)	(59)	3	(152)	(209)	(203)	(194)	(41)	1	(54)	(204)	(374)	(277)	(303)	(107)	200	163	448	365	368	176	(160)	(125)	(355)
Cash from Operating Activities	365 N/A	397 +9%	456 +15%	497 +9%	423 -15%	401 -5%	424 +6%	454 +7%	524 +15%	548 +5%	533 -3%	538 +1%	571 +6%	542 -5%	567 +5%	580 +2%	590 +2%	529 -10%	540 +2%	573 +6%	628 +10%	714 +14%	759 +6%	767 +1%	798 +4%	849 +6%	801 -6%	750 -6%	753 +0%	644 -15%	742 +15%	789 +6%	695 -12%	803 +16%	761 -5%	802 +5%	950 +19%	871 -8%	888 +2%	853 -4%	686 -20%	740 +8%	595 -20%	866 +46%	1 203 +39%	1 279 +6%	1 385 +8%	1 411 +2%	1 560 +11%	1 588 +2%	1 699 +7%	1 776 +5%	1 816 +2%	1 714 -6%	1 920 +12%	2 066 +8%	2 000 -3%	2 360 +18%	2 238 -5%	2 096 -6%	1 940 -7%	1 893 -2%	1 925 +2%	1 893 -2%	2 091 +10%	2 153 +3%	2 017 -6%	2 097 +4%	2 278 +9%	2 169 -5%	2 410 +11%	2 427 +1%	2 421 0%	2 414 0%	2 262 -6%	2 031 -10%	1 860 -8%	1 784 -4%	1 900 +7%	2 071 +9%	2 062 0%	1 937 -6%	1 756 -9%	1 570 -11%	1 788 +14%	1 817 +2%	2 068 +14%	2 419 +17%	2 412 0%	2 863 +19%	2 901 +1%	2 900 0%	2 814 -3%	2 534 -10%	2 625 +4%	2 629 +0%
Investing Cash Flow
Capital Expenditures	(158)	(169)	(177)	(187)	(217)	(217)	(217)	(224)	(221)	(243)	(253)	(259)	(286)	(277)	(288)	(292)	(280)	(282)	(296)	(316)	(321)	(328)	(320)	(345)	(362)	(384)	(413)	(402)	(395)	(362)	(319)	(293)	(297)	(298)	(319)	(315)	(298)	(311)	(309)	(326)	(366)	(422)	(471)	(533)	(608)	(615)	(626)	(645)	(662)	(678)	(718)	(734)	(794)	(817)	(799)	(850)	(815)	(790)	(799)	(750)	(757)	(776)	(809)	(840)	(869)	(904)	(903)	(909)	(847)	(831)	(805)	(763)	(801)	(774)	(681)	(613)	(489)	(430)	(484)	(551)	(643)	(690)	(715)	(729)	(713)	(738)	(741)	(715)	(775)	(803)	(828)	(897)	(995)	(1 031)	(1 051)	(1 076)
Other Items	(467)	(478)	(476)	(472)	(56)	(53)	(57)	(39)	4	(95)	(99)	(113)	(108)	(13)	(12)	(12)	(129)	22	31	(28)	87	(52)	(67)	(39)	(302)	(512)	(471)	(445)	(186)	27	(3)	(3)	(2)	4	14	(22)	(6)	(313)	(324)	(290)	(1 658)	(1 362)	(1 369)	(1 355)	120	43	(1 310)	(1 315)	(1 425)	(1 364)	(0)	(32)	(54)	(26)	(31)	17	(101)	(107)	(100)	(199)	(17)	(842)	(845)	(774)	(858)	(83)	(65)	(45)	(183)	(421)	(438)	(547)	(399)	(113)	(40)	(10)	75	(11)	(99)	(150)	(3 937)	(3 827)	(3 828)	(3 718)	(4)	(39)	(129)	(138)	(216)	(200)	(145)	743	561	574	614	(281)
Cash from Investing Activities	(625) N/A	(647) -4%	(653) -1%	(659) -1%	(273) +59%	(271) +1%	(273) -1%	(263) +4%	(217) +17%	(338) -56%	(352) -4%	(371) -6%	(394) -6%	(291) +26%	(300) -3%	(305) -1%	(409) -34%	(260) +36%	(266) -2%	(344) -29%	(234) +32%	(380) -62%	(387) -2%	(384) +1%	(664) -73%	(896) -35%	(884) +1%	(847) +4%	(581) +31%	(334) +42%	(323) +3%	(296) +8%	(299) -1%	(294) +2%	(305) -4%	(337) -10%	(304) +10%	(624) -106%	(633) -1%	(616) +3%	(2 024) -229%	(1 784) +12%	(1 840) -3%	(1 888) -3%	(488) +74%	(571) -17%	(1 936) -239%	(1 960) -1%	(2 088) -6%	(2 041) +2%	(718) +65%	(765) -7%	(848) -11%	(843) +1%	(829) +2%	(833) 0%	(916) -10%	(898) +2%	(900) 0%	(949) -5%	(774) +18%	(1 618) -109%	(1 654) -2%	(1 614) +2%	(1 727) -7%	(988) +43%	(968) +2%	(954) +1%	(1 030) -8%	(1 252) -22%	(1 243) +1%	(1 310) -5%	(1 199) +8%	(887) +26%	(721) +19%	(623) +14%	(415) +33%	(441) -6%	(583) -32%	(700) -20%	(4 580) -554%	(4 517) +1%	(4 543) -1%	(4 448) +2%	(717) +84%	(777) -8%	(870) -12%	(853) +2%	(991) -16%	(1 002) -1%	(972) +3%	(155) +84%	(434) -180%	(457) -5%	(437) +4%	(1 357) -211%
Financing Cash Flow
Net Issuance of Common Stock	(32)	(4)	(20)	(9)	37	42	24	(34)	(101)	(145)	(101)	(93)	(105)	(173)	(174)	(122)	(164)	(127)	(224)	(257)	(195)	(289)	(344)	(314)	(275)	(131)	21	42	(301)	(296)	(291)	(290)	(22)	(155)	(201)	(321)	(260)	(185)	(164)	(49)	(601)	(590)	(622)	(618)	(46)	9	(73)	(118)	(211)	(439)	(397)	(349)	(363)	(534)	(735)	(744)	(672)	(663)	(592)	(678)	(663)	(631)	(512)	(512)	(517)	(354)	(235)	(227)	(448)	(325)	(510)	(389)	(167)	(115)	145	85	95	65	(19)	37	37	(174)	(323)	(404)	(489)	(231)	(59)	(15)	83	(13)	(322)	(717)	(727)	(691)	(422)	(169)
Net Issuance of Debt	338	298	252	220	(109)	(75)	(100)	(88)	(102)	(5)	4	7	(17)	31	50	6	96	(87)	20	(2)	262	33	28	77	(114)	437	309	155	186	(18)	(130)	(64)	(250)	(219)	(78)	58	(74)	129	65	(17)	3 725	2 042	2 252	2 003	(1 081)	(23)	915	972	111	718	(400)	(458)	(308)	(45)	140	(98)	(123)	(344)	(471)	(96)	214	734	797	736	467	(338)	(516)	(382)	(210)	(176)	(99)	(275)	(653)	684	237	50	220	(1 198)	(704)	(955)	2 151	2 227	2 360	2 962	90	13	(117)	2	(502)	(1 130)	(1 132)	(1 129)	(629)	(2)	499	345
Cash Paid for Dividends	(67)	(67)	(68)	(69)	(70)	(71)	(73)	(74)	(75)	(77)	(79)	(81)	(82)	(84)	(86)	(88)	(90)	(93)	(96)	(98)	(101)	(105)	(108)	(111)	(114)	(117)	(121)	(125)	(129)	(130)	(131)	(132)	(133)	(137)	(140)	(143)	(146)	(149)	(153)	(158)	(163)	(184)	(203)	(221)	(307)	(250)	(258)	(270)	(218)	(300)	(318)	(333)	(344)	(358)	(375)	(387)	(401)	(409)	(416)	(424)	(428)	(433)	(433)	(433)	(449)	(459)	(478)	(489)	(497)	(515)	(525)	(544)	(555)	(559)	(557)	(559)	(561)	(562)	(564)	(566)	(566)	(574)	(580)	(585)	(603)	(607)	(611)	(620)	(617)	(635)	(649)	(658)	(664)	(681)	(704)	(726)
Other	18	12	30	24	(2)	(0)	(24)	(25)	5	5	5	5	11	11	11	21	12	18	21	17	18	16	17	16	21	20	16	15	8	5	5	6	8	10	13	15	17	17	18	4	(28)	(23)	(11)	(3)	40	46	34	32	26	(52)	(56)	(60)	(55)	25	34	48	45	34	35	45	8	3	(17)	(36)	(24)	(32)	(26)	(43)	(19)	0	(8)	7	25	23	20	(50)	(97)	(96)	(92)	(46)	(18)	2	37	114	165	126	56	3	(19)	(0)	34	34	(4)	(2)	(5)	(12)
Cash from Financing Activities	258 N/A	239 -7%	194 -19%	166 -14%	(144) N/A	(104) +28%	(174) -67%	(221) -27%	(273) -23%	(222) +18%	(171) +23%	(162) +5%	(194) -19%	(216) -11%	(200) +7%	(183) +8%	(146) +20%	(289) -98%	(279) +3%	(341) -22%	(16) +95%	(346) -2 008%	(408) -18%	(332) +18%	(482) -45%	209 N/A	225 +8%	87 -61%	(236) N/A	(439) -87%	(547) -24%	(479) +12%	(398) +17%	(500) -26%	(405) +19%	(391) +4%	(462) -18%	(189) +59%	(235) -24%	(219) +7%	2 934 N/A	1 245 -58%	1 416 +14%	1 161 -18%	(1 394) N/A	(217) +84%	618 N/A	617 0%	(293) N/A	(72) +75%	(1 170) -1 521%	(1 201) -3%	(1 071) +11%	(912) +15%	(935) -3%	(1 180) -26%	(1 151) +2%	(1 382) -20%	(1 444) -4%	(1 152) +20%	(868) +25%	(327) +62%	(165) +50%	(245) -49%	(523) -113%	(1 183) -126%	(1 255) -6%	(1 142) +9%	(1 173) -3%	(1 025) +13%	(1 142) -11%	(1 201) -5%	(1 350) -12%	34 N/A	(155) N/A	(473) -206%	(342) +28%	(1 791) -424%	(1 379) +23%	(1 530) -11%	1 603 N/A	1 481 -8%	1 493 +1%	2 087 +40%	(837) N/A	(698) +17%	(731) -5%	(631) +14%	(1 055) -67%	(1 778) -69%	(2 068) -16%	(2 470) -19%	(2 024) +18%	(1 376) +32%	(633) +54%	(562) +11%
Change in Cash
Effect of Foreign Exchange Rates	1	3	1	2	1	(0)	3	1	2	2	(0)	1	2	2	1	1	(2)	(1)	1	1	2	2	2	2	2	4	8	5	(8)	(10)	(12)	(8)	9	(3)	(12)	(13)	(16)	8	22	21	6	2	(29)	(22)	(7)	(20)	3	3	2	1	2	(6)	(26)	(21)	(33)	(66)	(50)	(49)	(37)	(1)	(10)	(4)	(13)	(5)	(11)	(19)	(1)	(7)	8	12	7	16	20	22	(36)	(37)	(30)	(24)	28	23	14	9	16	6	4	(21)	(37)	(47)	(46)	(23)	(24)	(16)	(19)	(18)	(24)	(16)
Net Change in Cash	(2) N/A	(9) -286%	(2) +72%	6 N/A	7 +32%	26 +257%	(20) N/A	(29) -42%	36 N/A	(10) N/A	11 N/A	5 -51%	(14) N/A	37 N/A	69 +85%	93 +36%	33 -64%	(21) N/A	(4) +80%	(111) -2 610%	380 N/A	(9) N/A	(34) -287%	53 N/A	(347) N/A	165 N/A	150 -9%	(5) N/A	(71) -1 404%	(140) -98%	(139) +1%	5 N/A	7 +28%	6 -16%	39 +566%	61 +58%	169 +177%	66 -61%	42 -37%	39 -7%	1 601 +4 016%	203 -87%	142 -30%	117 -18%	(686) N/A	470 N/A	70 -85%	70 +0%	(819) N/A	(524) +36%	(188) +64%	(197) -4%	(130) +34%	(62) +52%	124 N/A	(13) N/A	(117) -798%	31 N/A	(143) N/A	(4) +97%	288 N/A	(56) N/A	93 N/A	29 -69%	(169) N/A	(37) +78%	(207) -464%	(6) +97%	83 N/A	(97) N/A	32 N/A	(68) N/A	(108) -59%	1 583 N/A	1 351 -15%	899 -33%	1 074 +19%	(472) N/A	(34) +93%	(137) -300%	(900) -558%	(1 090) -21%	(1 278) -17%	(785) +39%	239 N/A	320 +34%	429 +34%	888 +107%	321 -64%	61 -81%	(164) N/A	260 N/A	337 +30%	683 +102%	1 531 +124%	695 -55%
Free Cash Flow
Free Cash Flow	207 N/A	229 +11%	279 +22%	310 +11%	206 -33%	184 -11%	207 +13%	230 +11%	303 +32%	305 +1%	280 -8%	279 0%	285 +2%	264 -7%	280 +6%	287 +3%	310 +8%	248 -20%	243 -2%	257 +6%	307 +19%	387 +26%	439 +13%	422 -4%	436 +3%	464 +6%	388 -16%	348 -10%	359 +3%	282 -21%	423 +50%	495 +17%	398 -20%	505 +27%	442 -13%	487 +10%	653 +34%	560 -14%	579 +3%	527 -9%	320 -39%	318 0%	124 -61%	333 +169%	596 +79%	664 +12%	759 +14%	766 +1%	898 +17%	911 +1%	981 +8%	1 042 +6%	1 022 -2%	897 -12%	1 122 +25%	1 216 +8%	1 185 -3%	1 570 +32%	1 439 -8%	1 347 -6%	1 183 -12%	1 117 -6%	1 116 0%	1 053 -6%	1 223 +16%	1 248 +2%	1 114 -11%	1 188 +7%	1 431 +20%	1 338 -6%	1 604 +20%	1 664 +4%	1 620 -3%	1 640 +1%	1 581 -4%	1 419 -10%	1 371 -3%	1 353 -1%	1 416 +5%	1 520 +7%	1 419 -7%	1 247 -12%	1 041 -17%	841 -19%	1 076 +28%	1 079 +0%	1 327 +23%	1 704 +28%	1 637 -4%	2 060 +26%	2 073 +1%	2 002 -3%	1 819 -9%	1 503 -17%	1 574 +5%	1 553 -1%

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Ecolab Inc
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Cash Flow Statement

Cash Flow Statement
Ecolab Inc

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Ecolab Inc NYSE:ECL

Cash Flow Statement

Cash Flow Statement Ecolab Inc

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Cash Flow Statement
Ecolab Inc