Cash Flow Statement

Operating Cash Flow

-4%

+231%

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	353	383	403	415	457	460	479	526	574	617	667	697	723	752	765	769	782	796	812	831	839	812	814	803	654	680	627	519	556	418	309	345	380	467	604	669	736	791	925	916	859	860	771	881	1 029	1 097	1 212	1 213	1 138	1 093	1 029	1 010	1 066	1 079	1 081	1 086	1 080	1 137	1 186	1 256	1 315	1 366	1 411	1 416	1 408	1 412	1 524	1 694	1 918	2 048	2 028	1 982	1 929	1 715	1 483	1 375	1 353	1 532	1 749	1 872	1 859	1 774	1 533	1 684	1 992	2 331	2 981	3 024	2 741	2 570	2 358	2 389	2 588	2 641	2 702	2 773
Depreciation & Amortization	162	146	127	108	90	88	106	123	141	157	151	145	138	132	126	120	115	111	106	111	115	119	123	119	115	116	117	119	120	117	116	120	129	134	137	134	126	122	126	134	142	149	151	147	145	143	140	138	138	138	138	137	130	127	123	120	125	134	142	148	150	146	144	145	141	139	137	131	129	151	174	201	229	232	234	235	235	237	238	237	234	233	270	315	338	372	364	354	366	368	372	367	369	370	368	369
Change in Deffered Taxes	(29)	(37)	(32)	(45)	(36)	(36)	(9)	(36)	(61)	(76)	(122)	(131)	(138)	(143)	(149)	(112)	(88)	(91)	(72)	(66)	(68)	(53)	(54)	(25)	(45)	(31)	(27)	(85)	(17)	(23)	60	122	83	84	(3)	49	51	73	56	16	34	38	64	128	132	136	150	116	140	163	150	80	93	88	82	79	397	410	461	486	174	161	97	75	401	239	260	317	16	154	156	106	58	8	(48)	(79)	(31)	44	114	159	87	52	(45)	(72)	(30)	(23)	41	20	(97)	(106)	(104)	(70)	(27)	(35)	(35)	(52)
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0	0	0	48	0	0	0	45	0	0	0	51	0	0	0	51	0	0	0	50	0	0	0	54	20	32	43	54	43	42	43	56	59	60	0	57	0	0	0	55	16	0	0	65	14	31	48	67	68	68	61	65	70	63	63	61	63	64	65	66	72	73	74	76	78	79	23	80	28	28	84	85	86	96	105	111	123	119	123	118	117	182	186	116	108	46	45
Other Non-Cash Items	30	29	34	35	34	37	39	43	47	46	46	48	51	54	52	82	82	77	79	49	56	71	72	75	197	157	170	329	231	297	333	225	233	228	203	163	147	90	(41)	(41)	39	81	211	205	116	114	38	(31)	(45)	(53)	4	70	68	64	13	(4)	(9)	(7)	33	16	9	0	2	28	18	21	23	20	51	54	106	118	111	116	83	85	86	87	69	75	88	90	101	100	(49)	(60)	(268)	(264)	(114)	(83)	141	141	149	141	109	79
Cash Taxes Paid	190	187	253	247	250	251	268	227	330	339	390	516	453	468	462	452	473	460	489	360	346	335	306	370	370	372	356	292	290	219	94	81	(20)	62	135	204	288	351	409	381	252	183	190	216	406	407	428	464	389	384	361	388	412	496	439	455	379	204	259	144	277	392	493	601	494	503	349	229	375	487	443	480	321	216	139	273	276	255	418	300	314	324	342	398	488	476	585	556	452	471	229	261	236	265	280	310
Cash Interest Paid	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	0	0	0	89	0	0	0	0	0	0	302	364	422	487	258	271	287	307	400	471	508	553	499	469	441	422	405	407	424	476	516	589	659	712	736	703	598	478	372	269	228	170	139	124	146	237	429	799	1 265	1 993	2 691	3 280	3 883	4 206	4 319	4 253	3 948	3 747
Change in Working Capital	(362)	(10)	326	(12)	82	42	(222)	355	515	376	506	107	(50)	(36)	(525)	(1 100)	(593)	(801)	(409)	712	(402)	(105)	(56)	(464)	413	333	705	851	739	561	381	599	365	856	862	349	615	716	444	686	698	413	357	(401)	(923)	(830)	(1 069)	(907)	(440)	(546)	(536)	(93)	(259)	(360)	(111)	291	150	59	12	(339)	(464)	349	503	513	814	169	(264)	93	(24)	(388)	(416)	(630)	30	(522)	257	(360)	(855)	278	20	339	447	868	1 808	2 290	2 323	1 085	658	925	1 009	1 336	1 415	(93)	531	520	(17)	987
Cash from Operating Activities	154 N/A	511 +231%	858 +68%	502 -42%	626 +25%	591 -6%	393 -33%	1 011 +157%	1 216 +20%	1 121 -8%	1 248 +11%	866 -31%	724 -16%	760 +5%	269 -65%	(241) N/A	298 N/A	92 -69%	516 +460%	1 636 +217%	540 -67%	844 +56%	900 +7%	507 -44%	1 335 +163%	1 256 -6%	1 591 +27%	1 731 +9%	1 628 -6%	1 370 -16%	1 199 -13%	1 410 +18%	1 189 -16%	1 768 +49%	1 804 +2%	1 363 -24%	1 676 +23%	1 793 +7%	1 510 -16%	1 712 +13%	1 772 +4%	1 541 -13%	1 554 +1%	961 -38%	500 -48%	659 +32%	472 -28%	530 +12%	932 +76%	795 -15%	785 -1%	1 203 +53%	1 099 -9%	996 -9%	1 188 +19%	1 572 +32%	1 742 +11%	1 732 -1%	1 834 +6%	1 567 -15%	1 183 -24%	2 021 +71%	2 157 +7%	2 177 +1%	2 782 +28%	1 980 -29%	1 680 -15%	2 256 +34%	2 090 -7%	2 019 -3%	2 049 +1%	1 777 -13%	2 358 +33%	1 550 -34%	2 008 +30%	1 256 -37%	789 -37%	2 178 +176%	2 190 +1%	2 682 +22%	2 715 +1%	3 016 +11%	3 666 +22%	4 317 +18%	4 574 +6%	3 706 -19%	3 776 +2%	4 058 +7%	3 905 -4%	4 085 +5%	4 182 +2%	2 734 -35%	3 610 +32%	3 637 +1%	3 127 -14%	4 156 +33%
Investing Cash Flow
Capital Expenditures	(62)	(79)	(74)	(77)	(85)	(77)	(88)	(94)	(94)	(95)	(92)	(85)	(90)	(84)	(76)	(75)	(77)	(87)	(98)	(102)	(92)	(92)	(91)	(101)	(110)	(105)	(102)	(96)	(97)	(89)	(75)	(58)	(59)	(59)	(65)	(71)	(71)	(70)	(68)	(70)	(70)	(79)	(96)	(98)	(92)	(89)	(88)	(112)	(130)	(130)	(124)	(94)	(73)	(66)	(59)	(66)	(82)	(89)	(95)	(104)	(108)	(113)	(121)	(105)	(79)	(67)	(66)	(76)	(98)	(119)	(143)	(158)	(178)	(199)	(189)	(184)	(172)	(152)	(123)	(134)	(149)	(146)	(192)	(189)	(214)	(242)	(228)	(256)	(256)	(236)	(256)	(219)	(216)	(206)	(166)	(172)
Other Items	(383)	(108)	(696)	(2 357)	(1 498)	(2 318)	(379)	900	(185)	(336)	(3 369)	(3 579)	(3 868)	(3 911)	(2 097)	(1 339)	(1 499)	(732)	(437)	(1 008)	(275)	(1 027)	(1 551)	(3 433)	(4 673)	(4 812)	(5 298)	(3 086)	(2 167)	(379)	1 162	2 434	2 561	1 935	1 362	146	546	181	1 140	906	439	(823)	(3 431)	(2 874)	(3 969)	(2 660)	(1 708)	(1 785)	(2 074)	(5 143)	(6 601)	(13 677)	(11 637)	(10 006)	(6 893)	(1 108)	7 796	7 590	7 457	5 414	(613)	581	1 972	5 562	3 474	4 039	2 459	2 828	(1 312)	(771)	(2 511)	(6 789)	905	(3 198)	(17 447)	(13 066)	(21 848)	(26 948)	(11 936)	(14 088)	(13 482)	(358)	9 582	16 993	16 807	10 891	(3 867)	(11 966)	(7 618)	(12 973)	(2 426)	(1 941)	(334)	4 606	(1 912)	(519)
Cash from Investing Activities	(445) N/A	(187) +58%	(770) -312%	(2 434) -216%	(1 583) +35%	(2 396) -51%	(467) +81%	806 N/A	(279) N/A	(431) -55%	(3 461) -703%	(3 664) -6%	(3 958) -8%	(3 995) -1%	(2 173) +46%	(1 414) +35%	(1 576) -11%	(820) +48%	(535) +35%	(1 109) -107%	(367) +67%	(1 119) -205%	(1 642) -47%	(3 534) -115%	(4 783) -35%	(4 917) -3%	(5 400) -10%	(3 182) +41%	(2 264) +29%	(468) +79%	1 087 N/A	2 376 +119%	2 502 +5%	1 876 -25%	1 297 -31%	76 -94%	475 +529%	110 -77%	1 072 +870%	836 -22%	369 -56%	(902) N/A	(3 527) -291%	(2 972) +16%	(4 061) -37%	(2 749) +32%	(1 796) +35%	(1 897) -6%	(2 204) -16%	(5 273) -139%	(6 725) -28%	(13 771) -105%	(11 710) +15%	(10 072) +14%	(6 952) +31%	(1 174) +83%	7 714 N/A	7 501 -3%	7 362 -2%	5 309 -28%	(721) N/A	469 N/A	1 851 +295%	5 457 +195%	3 395 -38%	3 972 +17%	2 393 -40%	2 752 +15%	(1 410) N/A	(890) +37%	(2 654) -198%	(6 946) -162%	727 N/A	(3 397) N/A	(17 636) -419%	(13 250) +25%	(22 020) -66%	(27 100) -23%	(12 059) +56%	(14 222) -18%	(13 632) +4%	(504) +96%	9 389 N/A	16 804 +79%	16 593 -1%	10 649 -36%	(4 095) N/A	(12 222) -198%	(7 874) +36%	(13 208) -68%	(2 682) +80%	(2 160) +19%	(550) +75%	4 400 N/A	(2 078) N/A	(691) +67%
Financing Cash Flow
Net Issuance of Common Stock	(324)	(423)	(450)	(321)	(240)	(141)	(32)	0	0	(162)	(323)	(459)	(610)	(637)	(539)	(559)	(510)	(459)	(464)	(401)	(374)	(444)	(592)	(571)	(508)	(301)	(83)	(12)	600	0	0	0	0	0	0	0	0	0	125	125	125	0	0	0	0	0	0	0	0	347	347	347	347	0	0	0	0	(100)	(254)	(604)	(646)	(1 078)	(1 149)	(1 024)	(1 206)	(1 395)	(1 645)	(1 919)	(2 194)	(1 839)	(1 766)	(1 553)	(1 335)	(1 343)	(941)	(656)	(374)	0	0	495	495	0	(105)	(1 200)	(1 800)	(2 394)	(1 794)	(1 194)	(594)	0	733	185	(13)	(669)	(2 471)	(2 327)
Net Issuance of Debt	955	(185)	(1 247)	918	1 414	1 524	2 076	141	(797)	60	(676)	257	1 086	502	(86)	(287)	325	(706)	464	(972)	(1 354)	1 276	362	4 371	5 347	4 323	4 350	179	(1 179)	(2 771)	(2 829)	(3 022)	(3 135)	(3 072)	(3 289)	(3 203)	(4 037)	(4 184)	(4 506)	(3 558)	(2 123)	(1 624)	(1 077)	(1 889)	(1 788)	(1 219)	(1 199)	(158)	(275)	744	2 137	3 888	3 851	4 234	2 801	1 132	(9 580)	(11 740)	(12 734)	(13 050)	(3 057)	(3 776)	(1 339)	(1 589)	(1 276)	2 050	2 380	1 771	4 537	1 794	516	1 900	(5 890)	(5 849)	(5 990)	(7 074)	(2 668)	(2 765)	(2 725)	(1 846)	(856)	1	(1 007)	(489)	2 704	9 627	11 515	9 564	5 972	1 833	777	159	232	(4 249)	(1 779)	770
Cash Paid for Dividends	(96)	(95)	(94)	(93)	(97)	(101)	(114)	(127)	(135)	(155)	(167)	(177)	(188)	(186)	(190)	(194)	(199)	(203)	(218)	(234)	(250)	(265)	(263)	(272)	(282)	(293)	(306)	(308)	(309)	(314)	(326)	(342)	(358)	(369)	(373)	(375)	(376)	(377)	(382)	(381)	(398)	(397)	(411)	(411)	(411)	(413)	(414)	(417)	(419)	(422)	(425)	(439)	(441)	(454)	(455)	(456)	(456)	(475)	(492)	(508)	(523)	(528)	(526)	(531)	(530)	(526)	(527)	(556)	(583)	(610)	(629)	(620)	(620)	(627)	(628)	(640)	(636)	(635)	(635)	(636)	(648)	(673)	(747)	(827)	(881)	(948)	(950)	(957)	(968)	(969)	(986)	(1 010)	(1 033)	(1 044)	(1 038)	(1 038)
Other	(5)	697	1 868	2 077	158	350	(187)	(985)	611	643	2 507	2 656	2 409	3 009	2 493	2 357	1 788	2 010	350	1 017	1 939	(110)	983	(534)	(966)	240	150	1 652	1 323	960	(218)	(1 036)	(520)	(314)	466	1 854	1 949	2 596	2 458	1 530	774	1 620	3 552	4 581	6 294	4 203	2 989	2 379	1 652	3 746	4 324	8 236	6 555	4 899	2 852	(1 349)	574	2 892	4 217	7 369	3 716	3 001	(932)	(4 453)	(3 065)	(6 077)	(4 257)	(4 361)	(2 255)	(499)	2 387	5 949	4 591	9 697	23 271	20 034	25 026	28 284	13 285	13 517	11 711	(2 183)	(10 918)	(17 830)	(21 007)	(20 234)	(8 291)	264	(230)	8 136	(2 094)	540	(2 068)	(1 661)	4 589	(1 136)
Cash from Financing Activities	530 N/A	(6) N/A	76 N/A	2 581 +3 279%	1 235 -52%	1 632 +32%	1 743 +7%	(971) N/A	(321) +67%	385 N/A	1 341 +248%	2 277 +70%	2 698 +18%	2 688 0%	1 677 -38%	1 317 -21%	1 405 +7%	643 -54%	131 -80%	(590) N/A	(39) +93%	456 N/A	490 +7%	2 995 +511%	3 590 +20%	3 969 +11%	4 110 +4%	1 511 -63%	436 -71%	(1 525) N/A	(2 774) -82%	(3 800) -37%	(4 013) -6%	(3 754) +6%	(3 196) +15%	(1 723) +46%	(2 464) -43%	(1 965) +20%	(2 305) -17%	(2 283) +1%	(1 623) +29%	(276) +83%	2 064 N/A	2 281 +11%	4 095 +80%	2 571 -37%	1 376 -46%	1 804 +31%	958 -47%	4 415 +361%	6 383 +45%	12 032 +89%	10 312 -14%	8 679 -16%	5 198 -40%	(672) N/A	(9 462) -1 307%	(9 422) +0%	(9 263) +2%	(6 793) +27%	(510) +92%	(2 381) -367%	(3 947) -66%	(7 598) -93%	(6 077) +20%	(5 947) +2%	(4 049) +32%	(5 065) -25%	(495) +90%	(1 154) -133%	508 N/A	5 677 +1 018%	(3 254) N/A	1 878 N/A	15 711 +737%	11 665 -26%	21 348 +83%	24 883 +17%	9 924 -60%	11 530 +16%	10 701 -7%	(2 360) N/A	(12 778) -441%	(20 345) -59%	(20 984) -3%	(13 949) +34%	480 N/A	7 677 +1 500%	4 180 -46%	9 001 +115%	(1 571) N/A	(127) +92%	(2 882) -2 173%	(7 623) -165%	(699) +91%	(3 731) -434%
Change in Cash
Net Change in Cash	239 N/A	319 +33%	165 -48%	648 +293%	277 -57%	(173) N/A	1 669 N/A	845 -49%	616 -27%	1 075 +75%	(872) N/A	(521) +40%	(536) -3%	(547) -2%	(227) +58%	(338) -48%	127 N/A	(85) N/A	111 N/A	(62) N/A	135 N/A	181 +35%	(253) N/A	(32) +87%	143 N/A	308 +116%	302 -2%	60 -80%	(199) N/A	(622) -212%	(488) +22%	(14) +97%	(322) -2 231%	(110) +66%	(95) +14%	(284) -200%	(313) -10%	(61) +80%	277 N/A	265 -4%	519 +96%	362 -30%	90 -75%	269 +199%	534 +99%	482 -10%	52 -89%	437 +745%	(314) N/A	(63) +80%	443 N/A	(536) N/A	(300) +44%	(396) -32%	(567) -43%	(274) +52%	(5) +98%	(189) -3 449%	(66) +65%	82 N/A	(47) N/A	109 N/A	61 -44%	36 -41%	100 +178%	6 -94%	24 +314%	(57) N/A	185 N/A	(25) N/A	(97) -284%	507 N/A	(169) N/A	31 N/A	83 +169%	(330) N/A	116 N/A	(38) N/A	56 N/A	(10) N/A	(215) -2 160%	151 N/A	278 +83%	776 +179%	183 -76%	406 +122%	160 -61%	(487) N/A	211 N/A	(122) N/A	(70) +43%	447 N/A	178 -60%	414 +133%	350 -15%	(266) N/A

Income Statement Balance Sheet Cash Flow Statement

M&T Bank Corp
NYSE:MTB

Cash Flow Statement

Cash Flow Statement
M&T Bank Corp

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M&T Bank Corp NYSE:MTB

Cash Flow Statement

Cash Flow Statement M&T Bank Corp

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M&T Bank Corp
NYSE:MTB

Cash Flow Statement
M&T Bank Corp