For the year ending 2025-12-31, OTIS had -$1,216M decrease in cash & cash equivalents over the period. $1,444M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 1,455 | 1,734 | 1,498 | 1,369 |
| Depreciation and amortization | 175 | 181 | 193 | 191 |
| Deferred income tax expense (benefit) | -104 | -31 | -61 | -16 |
| Stock compensation cost | 80 | 73 | 64 | 67 |
| Loss on fixed asset impairment | - | - | - | 0 |
| Gain from reversal of german tax litigation interest accrual (note 1) | 0 | 50 | - | - |
| Accounts receivable, net | 111 | 68 | 239 | 309 |
| Contract assets and liabilities, current | 71 | 40 | 30 | -38 |
| Inventories | 25 | -26 | -15 | 65 |
| Other current assets | -225 | 354 | -38 | -52 |
| Accounts payable | 181 | 57 | 152 | 272 |
| Accrued liabilities | -140 | 85 | 33 | -84 |
| Pension and postretirement contributions | 43 | 51 | 48 | 34 |
| Other operating activities, net | -26 | 1 | 12 | 79 |
| Net cash flows provided by operating activities | 1,596 | 1,563 | 1,627 | 1,560 |
| Capital expenditures | 152 | 126 | 138 | 115 |
| Acquisitions of businesses and intangible assets, net of cash (note 7) | 109 | 87 | 36 | 46 |
| Dispositions of businesses, net of cash (note 8) | - | 0 | 0 | 61 |
| Net proceeds from the sale of fixed assets | 60 | - | - | - |
| Proceeds from sale of (investments in) marketable securities | - | - | - | 7 |
| Proceeds from sale of (investments in) marketable securities, net | 0 | 9 | -4 | - |
| Receipts (payments) on settlements of derivative contracts, net | 204 | -49 | 28 | -65 |
| Other investing activities, net | 1 | -9 | -15 | -9 |
| Net cash flows provided by (used in) investing activities | -406 | -164 | -183 | -33 |
| Net proceeds from (repayments of) borrowings (maturities of 90 days or less) | -25 | 11 | -113 | 113 |
| Proceeds from borrowings (maturities longer than 90 days) | - | - | 0 | 0 |
| Repayments of borrowings (maturities longer than 90 days) | - | - | 0 | 0 |
| Proceeds from borrowings (maturities longer than 90 days) | 167 | - | - | - |
| Proceeds from issuance of long-term debt | 500 | 1,497 | 747 | 0 |
| Payment of debt issuance costs | 5 | 11 | 6 | 0 |
| Repayment of long-term debt | 1,300 | 0 | 534 | 500 |
| Dividends paid on common stock | 647 | 606 | 539 | 465 |
| Repurchases of common stock | 809 | 1,007 | 800 | 850 |
| Acquisition of noncontrolling interest shares (note 1)-Noncontrolling Interest Shares | 217 | 75 | - | - |
| Dividends paid to noncontrolling interest | 69 | 94 | 85 | 118 |
| Acquisition of zardoya otis shares (note 1) | - | - | 0 | 1,802 |
| Net transfers to utc | - | - | - | 0 |
| Other financing activities, net | -16 | -24 | -20 | -30 |
| Net cash flows provided by (used in) financing activities | -2,421 | -309 | -1,350 | -3,652 |
| Effect of foreign exchange rate changes on cash and cash equivalents | 15 | -49 | -9 | -157 |
| Net increase (decrease) in cash and cash equivalents | -1,216 | 1,041 | 85 | -2,282 |
| Cash and cash equivalents at beginning of period | 2,321 | 1,280 | 1,195 | 3,477 |
| Cash and cash equivalents at end of period | 1,105 | 2,321 | 1,280 | 1,195 |
Otis Worldwide Corp (OTIS)
Otis Worldwide Corp (OTIS)