For the year ending 2025-12-31, ADM had $1,581M increase in cash & cash equivalents over the period. $4,204M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net earnings including non-controlling interests | 1,073 | 1,779 | 3,466 | 4,365 |
| Depreciation and amortization | 1,181 | 1,141 | 1,059 | 1,028 |
| Asset impairment charges | 361 | 519 | 309 | 37 |
| Deferred income taxes | -45 | -130 | -23 | -89 |
| Equity in earnings of unconsolidated affiliates, net of dividends | 224 | 180 | 143 | 457 |
| Stock compensation expense | 83 | 74 | 112 | 147 |
| Deferred cash flow hedges | - | 40 | -15 | 84 |
| (gain) loss on extinguishment of debt | - | - | 0 | 0 |
| (gain) loss on sale and revaluation of assets | - | - | -38 | 115 |
| (gain) loss on asset sales / investment revaluations, net | -285 | 12 | - | - |
| Other net | 25 | -131 | 106 | -178 |
| Segregated investments | 43 | 693 | 194 | 1,512 |
| Trade receivables | -855 | -447 | -737 | 1,682 |
| Inventories | -1,511 | -162 | -2,889 | 295 |
| Increase (decrease) in accounts receivable from securitization | - | - | - | 0 |
| Other current assets | -672 | -665 | -694 | 279 |
| Trade payables | -473 | -719 | -1,544 | 1,389 |
| Payables to brokerage customers | 1,064 | -78 | -2,059 | 891 |
| Accrued expenses and other payables | -823 | -276 | -790 | -44 |
| Net cash provided by operating activities | 5,452 | 2,790 | 4,460 | 3,478 |
| Capital expenditures | 1,248 | 1,563 | 1,494 | 1,319 |
| Net assets of businesses acquired | 108 | 927 | 23 | 22 |
| Proceeds from sales of assets and businesses | - | - | 60 | 131 |
| Proceeds from sales of assets, businesses and investments | 111 | 66 | - | - |
| Payments to acquire equity method investments | - | - | 18 | 77 |
| Investments in affiliates | - | 58 | - | - |
| Payments to acquire retained interest in securitized receivables | - | - | - | 0 |
| Purchases of marketable securities | 43 | 308 | - | - |
| Proceeds from collection of retained interest in securitized receivables | - | - | - | 0 |
| Proceeds from sales of marketable securities | 277 | 84 | - | - |
| Cost method investments | - | 0 | 0 | 155 |
| Other net | 6 | -4 | 21 | -42 |
| Net cash used in investing activities | -1,017 | -2,702 | -1,496 | -1,400 |
| Proceeds from notes recorded as long-term debt | - | - | 501 | 752 |
| Long-term debt borrowings | 11 | 27 | - | - |
| Long-term debt payments | 772 | 1 | 963 | 482 |
| Net (repayments) borrowings under lines of credit agreements | -1,114 | 1,800 | -390 | -428 |
| Share repurchases, net of tax | 0 | 2,327 | 2,673 | 1,450 |
| Cash dividends | 987 | 985 | 977 | 899 |
| Acquisition of non-controlling interests | 4 | 8 | - | - |
| Other net | -21 | -36 | -102 | 8 |
| Net cash used in financing activities | -2,887 | -1,530 | -4,604 | -2,499 |
| Effect of exchange rate on cash, cash equivalents, restricted cash, and restricted cash equivalents | 33 | -24 | -3 | - |
| Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents | 1,581 | -1,466 | -1,643 | -421 |
| Cash and cash equivalents at beginning of period | 3,924 | 5,390 | 7,033 | 7,454 |
| Cash and cash equivalents at end of period | 5,505 | 3,924 | 5,390 | 7,033 |
Archer-Daniels-Midland Co (ADM)
Archer-Daniels-Midland Co (ADM)