Cash Flow Statement

Operating Cash Flow

+117%

+58%

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	386	402	439	577	643	649	663	688	668	692	726	756	759	788	845	844	840	866	867	882	952	1 008	1 078	1 027	965	908	853	819	804	752	697	750	791	817	865	0	708	730	714	934	717	721	684	492	1 120	1 177	1 085	1 466	986	1 024	997	(13)	41	108	171	1 268	1 262	1 292	1 935	2 228	2 335	2 380	1 908	1 638	1 742	1 786	1 869	2 121	2 040	2 141	2 268	2 303	2 539	2 779	2 615	2 534	2 653	2 669	3 032	3 263	3 754	3 947	3 764	3 522	3 083	2 607	2 743	2 893	3 101	3 612	3 844	4 167	4 270	4 344	4 563	4 820
Depreciation & Amortization	413	412	420	409	404	398	397	403	404	407	393	393	389	380	374	385	389	389	393	390	397	400	406	401	402	415	435	479	480	481	478	461	456	458	444	108	112	98	82	126	87	21	(75)	141	145	146	140	137	135	133	134	134	134	134	138	157	166	178	187	181	182	182	181	180	182	189	197	206	213	213	208	204	201	200	205	206	207	201	189	178	265	524	779	1 013	1 163	1 143	1 128	1 143	1 143	1 151	1 163	1 173	1 179	1 182	1 182	1 179
Change in Deffered Taxes	5	6	3	64	69	69	72	(50)	(59)	(64)	(70)	29	34	33	39	(19)	(40)	(49)	(61)	(87)	(104)	(111)	(106)	(47)	(21)	(8)	17	(0)	11	17	3	6	(3)	(7)	(16)	33	48	50	52	17	15	20	27	53	52	54	51	43	0	41	7	(245)	(206)	(81)	(46)	280	240	110	0	79	75	0	0	0	0	0	0	81	91	93	96	46	30	37	17	(31)	(28)	(81)	(16)	13	(37)	(31)	(143)	(353)	(467)	(646)	(628)	(381)	(281)	(159)	(222)	(323)	(319)	(299)	(339)	(242)
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	136	31	63	94	125	84	53	21	(2)	(15)	(6)	(10)	22	23	28	55	51	61	69	71	77	76	76	75	90	94	97	97	96	92	96	98	100	101	90	83	78	74	75	77	76	81	83	87	99	93	104	107	94	93	81	74	78	77	67	85	90	98	118	120	122	197	215	192	214	166	168	197	171	158	156	205	247	261	257	237	236
Other Non-Cash Items	202	197	209	38	(47)	(49)	(63)	(21)	70	66	60	17	13	18	27	25	73	96	123	159	127	132	122	117	122	109	39	18	8	18	61	69	72	50	68	830	1 438	1 459	1 460	856	557	496	677	886	485	289	8	(608)	(202)	61	266	31	(65)	(92)	(85)	122	248	277	(556)	(932)	(942)	(941)	(198)	266	265	344	272	168	243	178	193	225	156	114	461	611	614	637	353	214	(1 048)	(1 500)	(1 374)	(1 505)	(275)	348	332	515	630	509	310	437	424	577	659	326
Cash Taxes Paid	0	0	0	246	0	0	0	328	0	0	0	562	0	0	0	419	0	0	0	480	0	0	0	635	0	0	0	466	0	0	0	416	0	0	0	410	0	0	0	452	0	0	0	243	0	0	0	787	0	0	0	419	0	0	0	260	0	0	0	683	0	0	0	709	0	0	0	558	0	0	0	659	0	0	0	683	0	0	0	883	0	0	0	1 555	0	0	0	1 279	0	0	0	1 159	0	0	0	1 502
Cash Interest Paid	0	0	0	22	0	0	0	6	0	0	0	0	0	0	0	4	0	0	0	12	0	0	29	44	0	0	0	72	0	0	0	71	0	0	0	71	0	0	0	71	0	0	0	77	0	0	0	50	0	0	0	50	0	0	0	65	0	0	0	150	0	0	0	139	0	0	0	151	0	0	0	162	0	0	0	159	0	0	0	130	0	0	0	240	0	0	0	369	0	0	0	391	0	0	0	390
Change in Working Capital	(11)	73	157	54	157	180	166	363	39	35	6	(131)	37	45	122	324	262	323	292	165	286	175	135	218	9	(59)	10	(138)	54	166	129	45	54	77	119	473	(228)	(223)	(188)	(594)	616	622	552	(290)	(480)	(420)	(544)	(486)	(316)	(376)	(324)	1 320	(275)	(328)	(272)	(1 600)	(26)	(33)	289	4	74	(41)	(464)	(68)	(167)	(74)	(124)	(512)	(590)	(454)	(330)	(2)	237	253	132	247	209	215	241	(70)	118	(357)	(596)	(74)	(529)	(162)	(86)	(460)	(529)	(262)	188	235	140	(221)	(422)	(432)
Cash from Operating Activities	995 N/A	1 091 +10%	1 228 +12%	1 142 -7%	1 225 +7%	1 246 +2%	1 236 -1%	1 382 +12%	1 121 -19%	1 135 +1%	1 116 -2%	1 063 -5%	1 232 +16%	1 264 +3%	1 408 +11%	1 560 +11%	1 524 -2%	1 624 +7%	1 613 -1%	1 509 -6%	1 658 +10%	1 605 -3%	1 635 +2%	1 717 +5%	1 476 -14%	1 366 -7%	1 354 -1%	1 178 -13%	1 357 +15%	1 435 +6%	1 368 -5%	1 330 -3%	1 369 +3%	1 395 +2%	1 480 +6%	1 444 -2%	1 387 -4%	1 423 +3%	1 428 +0%	1 339 -6%	1 277 -5%	1 166 -9%	1 151 -1%	1 282 +11%	1 322 +3%	1 246 -6%	740 -41%	552 -25%	645 +17%	883 +37%	1 080 +22%	1 227 +14%	(371) N/A	(259) +30%	(94) +64%	227 N/A	1 890 +733%	1 824 -3%	1 969 +8%	1 560 -21%	1 728 +11%	1 663 -4%	1 506 -9%	2 016 +34%	2 023 +0%	2 245 +11%	2 214 -1%	2 064 -7%	1 997 -3%	2 171 +9%	2 435 +12%	2 776 +14%	3 163 +14%	3 383 +7%	3 430 +1%	3 567 +4%	3 655 +2%	3 641 0%	3 799 +4%	3 598 -5%	3 052 -15%	2 583 -15%	2 430 -6%	2 603 +7%	2 975 +14%	3 290 +11%	3 489 +6%	3 710 +6%	4 064 +10%	4 851 +19%	5 283 +9%	5 689 +8%	5 694 +0%	5 583 -2%	5 643 +1%	5 651 +0%
Investing Cash Flow
Capital Expenditures	(448)	(448)	(433)	(375)	(368)	(342)	(332)	(361)	(359)	(369)	(400)	(387)	(398)	(397)	(387)	(394)	(403)	(403)	(395)	(426)	(433)	(482)	(531)	(545)	(559)	(512)	(461)	(385)	(342)	(304)	(280)	(269)	(258)	(259)	(257)	(86)	(91)	(92)	(96)	(92)	(56)	(23)	13	(96)	(109)	(104)	(82)	(117)	(115)	(111)	(114)	(92)	(88)	(97)	(114)	(139)	(139)	(133)	(132)	(115)	(122)	(135)	(125)	(123)	(133)	(127)	(134)	(113)	(100)	(99)	(102)	(115)	(106)	(87)	(81)	(76)	(83)	(83)	(66)	(35)	(33)	(50)	(63)	(89)	(101)	(108)	(123)	(143)	(139)	(144)	(139)	(124)	(143)	(168)	(182)	(195)
Other Items	(215)	(180)	9	8	127	121	118	499	423	421	127	(259)	(300)	(732)	(333)	(331)	(323)	113	(1)	(1)	42	3	(27)	(24)	(91)	(74)	(40)	(48)	(36)	(4)	1	(9)	(5)	(21)	(322)	(512)	(649)	(619)	(401)	(154)	(76)	(252)	(225)	(349)	1 865	2 018	2 110	2 116	(58)	(58)	(63)	347	359	367	(2 052)	(2 386)	(2 391)	(2 443)	921	1 286	1 329	1 304	317	(86)	(141)	(263)	(266)	(400)	(347)	(162)	(85)	(16)	(187)	(177)	(234)	(164)	2	(4)	(12)	(85)	2 838	3 708	3 674	3 717	575	647	669	705	934	(269)	(168)	(131)	(171)	101	(43)	(509)
Cash from Investing Activities	(662) N/A	(628) +5%	(424) +32%	(367) +14%	(242) +34%	(222) +8%	(214) +4%	138 N/A	64 -54%	52 -17%	(273) N/A	(647) -137%	(698) -8%	(1 129) -62%	(720) +36%	(725) -1%	(726) 0%	(290) +60%	(396) -37%	(427) -8%	(391) +9%	(480) -23%	(559) -16%	(570) -2%	(650) -14%	(586) +10%	(501) +15%	(433) +14%	(378) +13%	(308) +18%	(279) +9%	(279) +0%	(263) +6%	(280) -6%	(579) -107%	(598) -3%	(740) -24%	(711) +4%	(497) +30%	(246) +51%	(131) +47%	(275) -110%	(212) +23%	(445) -110%	1 756 N/A	1 914 +9%	2 028 +6%	1 999 -1%	(173) N/A	(169) +2%	(177) -5%	255 N/A	271 +6%	270 0%	(2 166) N/A	(2 525) -17%	(2 530) 0%	(2 576) -2%	789 N/A	1 171 +48%	1 207 +3%	1 169 -3%	192 -84%	(209) N/A	(274) -31%	(390) -42%	(400) -3%	(513) -28%	(447) +13%	(261) +42%	(187) +28%	(131) +30%	(293) -124%	(264) +10%	(315) -19%	(240) +24%	(81) +66%	(87) -7%	(78) +10%	(120) -54%	2 805 N/A	3 658 +30%	3 611 -1%	3 628 +0%	474 -87%	539 +14%	546 +1%	562 +3%	795 +41%	(413) N/A	(307) +26%	(255) +17%	(314) -23%	(67) +79%	(225) -236%	(704) -213%
Financing Cash Flow
Net Issuance of Common Stock	(107)	(102)	(56)	(106)	(226)	(161)	(165)	(137)	(89)	(154)	(187)	(191)	(348)	(403)	(388)	(485)	(722)	(1 426)	(1 372)	(1 277)	(1 407)	(1 097)	(1 837)	(2 066)	(1 608)	(1 246)	(700)	(406)	(293)	(154)	(0)	25	47	(142)	(215)	(206)	(303)	(265)	(499)	(1 361)	(1 174)	(1 007)	(856)	4	(534)	(523)	(635)	(720)	(365)	(556)	(268)	(169)	(151)	(141)	(390)	(888)	(1 030)	(995)	(1 503)	(1 035)	(1 012)	(1 035)	(773)	(926)	(1 844)	(1 702)	(1 233)	(1 626)	(1 157)	(1 155)	(1 648)	(1 200)	(1 724)	(1 728)	(1 244)	(1 148)	0	0	12	13	(6 990)	(8 492)	(10 996)	(11 997)	(5 494)	(4 993)	(2 987)	(3 288)	(3 290)	(2 290)	(3 300)	(3 301)	(3 452)	(4 106)	(3 801)	(5 001)
Net Issuance of Debt	(35)	(133)	(449)	(479)	(494)	(631)	(576)	(553)	(587)	(529)	(211)	(23)	(3)	370	(13)	(13)	(11)	295	231	(1)	604	313	1 096	1 186	978	721	165	70	(236)	(437)	(307)	(70)	0	0	0	0	0	0	0	0	0	0	0	57	(400)	(400)	(400)	(457)	0	0	0	0	365	690	2 674	2 817	2 781	2 293	493	(71)	(400)	(237)	(421)	0	0	86	86	86	0	0	0	218	0	0	100	(118)	0	0	0	0	2 102	1 492	1 492	1 665	273	725	729	556	96	(43)	(47)	(47)	(301)	(4)	(4)	1 704
Cash Paid for Dividends	(191)	(193)	(195)	(197)	(200)	(202)	(204)	(207)	(212)	(218)	(223)	(228)	(234)	(237)	(241)	(246)	(250)	(255)	(258)	(260)	(267)	(271)	(275)	(278)	(276)	(278)	(278)	(280)	(280)	(280)	(282)	(282)	(285)	(288)	(290)	(292)	(295)	(296)	(295)	(296)	(293)	(289)	(287)	(984)	(989)	(995)	(1 000)	(308)	(311)	(316)	(321)	(326)	(338)	(347)	(355)	(363)	(365)	(369)	(375)	(380)	(390)	(401)	(410)	(421)	(442)	(462)	(484)	(503)	(517)	(531)	(545)	(560)	(580)	(602)	(623)	(645)	(670)	(693)	(718)	(743)	(743)	(844)	(935)	(1 024)	(1 128)	(1 130)	(1 139)	(1 147)	(1 143)	(1 141)	(1 137)	(1 134)	(1 143)	(1 151)	(1 160)	(1 170)
Other	(0)	(0)	(1)	(1)	(1)	(1)	(0)	(0)	(0)	(0)	(0)	(0)	(0)	(0)	(0)	(0)	22	26	37	58	49	64	56	36	24	5	6	(5)	(7)	(12)	(16)	(9)	(11)	(17)	(17)	(35)	(32)	(29)	(27)	(7)	(4)	(4)	6	6	(32)	(53)	(280)	(283)	(192)	(179)	45	33	(22)	(19)	(63)	(217)	(298)	(244)	(297)	(176)	(199)	(270)	(199)	(160)	(191)	(215)	(244)	(245)	(213)	(206)	(200)	(209)	(237)	(241)	(250)	(255)	(270)	(271)	(282)	(283)	(294)	89	70	30	(2)	(407)	(403)	(401)	(370)	(464)	(474)	(516)	(548)	(494)	(481)	(463)
Cash from Financing Activities	(334) N/A	(429) -28%	(700) -63%	(782) -12%	(920) -18%	(994) -8%	(945) +5%	(897) +5%	(889) +1%	(901) -1%	(621) +31%	(442) +29%	(585) -32%	(270) +54%	(642) -138%	(744) -16%	(960) -29%	(1 360) -42%	(1 362) 0%	(1 480) -9%	(1 021) +31%	(991) +3%	(960) +3%	(1 121) -17%	(882) +21%	(798) +10%	(808) -1%	(622) +23%	(816) -31%	(882) -8%	(606) +31%	(335) +45%	(409) -22%	(537) -31%	(522) +3%	(533) -2%	(630) -18%	(591) +6%	(822) -39%	(1 664) -102%	(1 471) +12%	(1 300) +12%	(1 138) +12%	(917) +19%	(1 955) -113%	(1 971) -1%	(2 315) -17%	(1 768) +24%	(868) +51%	(1 051) -21%	(544) +48%	(462) +15%	(146) +68%	183 N/A	1 866 +920%	1 349 -28%	1 088 -19%	685 -37%	(1 682) N/A	(1 662) +1%	(2 001) -20%	(1 943) +3%	(1 803) +7%	(1 507) +16%	(2 477) -64%	(2 293) +7%	(1 875) +18%	(2 288) -22%	(1 801) +21%	(1 892) -5%	(2 393) -26%	(1 751) +27%	(2 323) -33%	(2 353) -1%	(2 017) +14%	(2 166) -7%	(1 058) +51%	(1 082) -2%	(988) +9%	(1 013) -3%	(5 925) -485%	(7 755) -31%	(10 369) -34%	(11 326) -9%	(6 351) +44%	(5 805) +9%	(3 800) +35%	(4 280) -13%	(4 707) -10%	(3 938) +16%	(4 958) -26%	(4 998) -1%	(5 444) -9%	(5 755) -6%	(5 446) +5%	(4 930) +9%
Change in Cash
Effect of Foreign Exchange Rates	(1)	5	3	11	12	14	14	14	12	3	3	10	8	(3)	(2)	(23)	(19)	(9)	(12)	3	3	13	26	17	23	16	(12)	(48)	(64)	(44)	(11)	22	15	(17)	(13)	(15)	25	43	(12)	(10)	(29)	(44)	6	5	(24)	(26)	(11)	(1)	22	54	(18)	(65)	(109)	(91)	(83)	(67)	(24)	(86)	(118)	(158)	(123)	(72)	18	87	73	(11)	(48)	(84)	(69)	(33)	(39)	34	(31)	(2)	51	75	50	65	6	(82)	(43)	(134)	(190)	(123)	(100)	(35)	22	12	(13)	(23)	33	(61)	(11)	47	3	62
Net Change in Cash	(2) N/A	39 N/A	106 +172%	5 -96%	75 +1 518%	44 -41%	91 +105%	637 +601%	308 -52%	289 -6%	225 -22%	(15) N/A	(43) -186%	(138) -221%	43 N/A	68 +59%	(181) N/A	(35) +81%	(157) -350%	(395) -152%	250 N/A	147 -41%	143 -3%	43 -70%	(33) N/A	(3) +92%	33 N/A	76 +131%	100 +32%	201 +101%	472 +135%	738 +56%	713 -3%	562 -21%	366 -35%	298 -18%	43 -86%	165 +288%	97 -41%	(581) N/A	(354) +39%	(454) -28%	(193) +57%	(75) +61%	1 099 N/A	1 163 +6%	442 -62%	782 +77%	(374) N/A	(283) +24%	341 N/A	955 +180%	(355) N/A	103 N/A	(477) N/A	(1 016) -113%	424 N/A	(153) N/A	958 N/A	911 -5%	811 -11%	817 +1%	(87) N/A	387 N/A	(655) N/A	(449) +31%	(109) +76%	(821) -653%	(320) +61%	(15) +95%	(184) -1 127%	928 N/A	516 -44%	764 +48%	1 149 +50%	1 236 +8%	2 566 +108%	2 537 -1%	2 739 +8%	2 383 -13%	(111) N/A	(1 648) -1 385%	(4 518) -174%	(5 218) -15%	(3 002) +42%	(2 011) +33%	257 N/A	4 -98%	139 +3 375%	477 +243%	51 -89%	375 +635%	(75) N/A	(192) -156%	(25) +87%	79 N/A
Free Cash Flow
Free Cash Flow	547 N/A	643 +18%	795 +24%	768 -3%	857 +12%	904 +6%	904 0%	1 021 +13%	762 -25%	766 +1%	716 -7%	676 -6%	835 +23%	868 +4%	1 020 +18%	1 165 +14%	1 121 -4%	1 221 +9%	1 218 0%	1 083 -11%	1 226 +13%	1 122 -8%	1 104 -2%	1 172 +6%	917 -22%	854 -7%	893 +5%	793 -11%	1 016 +28%	1 131 +11%	1 087 -4%	1 061 -2%	1 111 +5%	1 137 +2%	1 223 +8%	1 358 +11%	1 296 -5%	1 331 +3%	1 332 +0%	1 247 -6%	1 221 -2%	1 142 -6%	1 164 +2%	1 186 +2%	1 213 +2%	1 142 -6%	658 -42%	435 -34%	530 +22%	772 +46%	966 +25%	1 135 +17%	(459) N/A	(356) +22%	(208) +42%	88 N/A	1 751 +1 890%	1 691 -3%	1 837 +9%	1 445 -21%	1 606 +11%	1 528 -5%	1 381 -10%	1 893 +37%	1 890 0%	2 118 +12%	2 080 -2%	1 951 -6%	1 897 -3%	2 072 +9%	2 333 +13%	2 661 +14%	3 057 +15%	3 296 +8%	3 349 +2%	3 491 +4%	3 572 +2%	3 558 0%	3 733 +5%	3 563 -5%	3 019 -15%	2 533 -16%	2 367 -7%	2 514 +6%	2 874 +14%	3 182 +11%	3 366 +6%	3 567 +6%	3 925 +10%	4 707 +20%	5 144 +9%	5 565 +8%	5 551 0%	5 415 -2%	5 461 +1%	5 456 0%

Income Statement Balance Sheet Cash Flow Statement

S&P Global Inc
NYSE:SPGI

Cash Flow Statement

Cash Flow Statement
S&P Global Inc

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Company

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S&P Global Inc NYSE:SPGI

Cash Flow Statement

Cash Flow Statement S&P Global Inc

See Also

Company

Help

Tools

Stocks

S&P Global Inc
NYSE:SPGI

Cash Flow Statement
S&P Global Inc