For the year ending 2025-12-31, AVY had -$126,300K decrease in cash & cash equivalents over the period. $712,400K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-28 | 2023-12-30 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 688,000 | 704,900 | 503,000 | 757,100 |
| Depreciation | 206,400 | 197,100 | 187,400 | 177,400 |
| Amortization | 121,800 | 115,100 | 111,000 | 113,300 |
| Provision for credit losses and sales returns | 51,200 | 47,400 | 49,900 | 50,100 |
| Stock-based compensation | 27,900 | 28,700 | 22,300 | 47,400 |
| Pension plan settlements and related charges | - | - | - | 0 |
| Deferred taxes and other non-cash taxes | -19,900 | -18,500 | -24,400 | 18,400 |
| Other non-cash expense and loss (income and gain), net | -48,800 | -67,200 | -37,100 | -23,500 |
| Trade accounts receivable | -44,000 | 107,300 | 16,700 | 22,100 |
| Inventories | -53,200 | 90,700 | -111,700 | 140,700 |
| Accounts payable | -144,400 | 106,700 | -87,600 | 68,200 |
| Taxes on income | -5,100 | 40,200 | -18,700 | 18,900 |
| Other assets | -3,800 | 48,000 | -37,700 | -15,300 |
| Other liabilities | -194,300 | -104,000 | -86,700 | -165,800 |
| Net cash provided by operating activities | 881,400 | 938,800 | 826,000 | 961,000 |
| Purchases of property, plant and equipment | 169,000 | 208,800 | 265,300 | 278,100 |
| Purchases of software and other deferred charges | 31,400 | 31,000 | 19,800 | 20,400 |
| Proceeds from company-owned life insurance policies | 0 | 0 | 48,100 | - |
| Purchases of argentine blue chip swap securities | 0 | 34,200 | - | - |
| Proceeds from sales of argentine blue chip swap securities | 0 | 24,000 | - | - |
| Proceeds from sales of property, plant and equipment | 22,600 | 600 | 1,000 | 2,300 |
| Proceeds from insurance and sales (purchases) of investments, net | 3,500 | 10,100 | -1,900 | -1,900 |
| Proceeds from settlement of net investment hedges | 6,200 | - | - | - |
| Proceeds from sale of venture investment | - | 0 | 0 | 1,100 |
| Payment for settlement of net investment hedges | 26,100 | - | - | - |
| Payments for acquisitions, net of cash acquired, and venture investments | 401,800 | 3,800 | 224,900 | 39,500 |
| Net cash used in investing activities | -596,000 | -243,100 | -459,000 | -332,700 |
| Net increase (decrease) in borrowings with maturities of three months or less | 422,500 | -269,000 | -36,600 | 34,600 |
| Additional borrowings under revolving credit facility | - | - | - | 0 |
| Repayments of borrowings under revolving credit facility | - | - | - | 0 |
| Additional long-term borrowings | 576,500 | 539,200 | 394,900 | 0 |
| Repayments of long-term debt and finance leases | 559,400 | 308,100 | 255,900 | 6,300 |
| Dividends paid | 288,400 | 277,500 | 256,700 | 238,900 |
| Share repurchases | 572,300 | 247,500 | 137,500 | 379,500 |
| Net (tax withholding) proceeds related to stock-based compensation | 12,800 | 8,400 | 23,800 | 25,100 |
| Proceeds from settlement of fair value hedges | 32,800 | - | - | - |
| Payments for settlement of fair value hedges | 13,500 | - | - | - |
| Other | -300 | -4,800 | -1,600 | 0 |
| Net cash used in financing activities | -414,900 | -576,100 | -317,200 | -615,200 |
| Effect of foreign currency translation on cash balances | 3,200 | -5,500 | -2,000 | -8,600 |
| Increase (decrease) in cash and cash equivalents | -126,300 | 114,100 | 47,800 | 4,500 |
| Cash and cash equivalents, beginning of year | 329,100 | 215,000 | 167,200 | 162,700 |
| Cash and cash equivalents, end of year | 202,800 | 329,100 | 215,000 | 167,200 |
Avery Dennison Corp (AVY)
Avery Dennison Corp (AVY)