For the year ending 2025-12-31, PPG had $893M increase in cash & cash equivalents over the period. $1,163M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Income from continuing operations | 1,587 | 1,377 | 1,309 | 1,056 |
| Depreciation and amortization | 528 | 492 | 558 | 554 |
| Pension settlement charge | 0 | 0 | 190 | - |
| Asbestos-related claims reserve adjustment | - | - | 0 | 0 |
| Impairment and other-related charges, net | 24 | 146 | 160 | 245 |
| Stock-based compensation expense | 46 | 42 | 59 | 35 |
| Deferred income taxes | -27 | -97 | -183 | -157 |
| Business restructuring, net | 6 | 233 | - | 33 |
| Cash contributions to pension plans | 29 | 26 | 46 | 11 |
| Cash used for restructuring actions | 82 | 52 | 57 | 85 |
| Receivables | 190 | 181 | -10 | 268 |
| Inventories | 35 | 27 | -203 | 227 |
| Other current assets | 1 | 30 | 53 | 60 |
| Accounts payable and accrued liabilities | 67 | -259 | 130 | -8 |
| Noncurrent assets and liabilities, net | 40 | 73 | 47 | 136 |
| Taxes and interest payable | 105 | 31 | -71 | -143 |
| Other | -187 | 123 | -107 | 151 |
| Cashfrom operating activities - continuing operations | 1,936 | 1,391 | - | - |
| Cash from operating activities - discontinued operations | 5 | 29 | - | - |
| Cashfrom operating activities | 1,941 | 1,420 | 2,411 | 963 |
| Capital expenditures | 778 | 721 | 549 | 518 |
| Business acquisitions, net of cash balances acquired | 1 | 31 | 109 | 114 |
| Proceeds from divestiture of businesses | 43 | 325 | 36 | 117 |
| Other | -36 | -28 | -66 | -54 |
| Cash used for investing activities - continuing operations | -700 | -399 | - | - |
| Cash from/(used for) investing activities - discontinued operations | 0 | 506 | - | - |
| Cash (used for)/from investing activities | -700 | 107 | -556 | -461 |
| Proceeds from term loan, net of fees | 309 | 274 | 550 | 0 |
| Repayment of term loan credit agreement | 0 | 0 | 1,100 | 300 |
| Net payments on commercial paper and short-term debt | - | 0 | 0 | -439 |
| Proceeds from term loan, net of fees | - | - | - | 0 |
| Repayment of term loan | - | - | 0 | 0 |
| Proceeds from revolving credit facility | - | - | - | 0 |
| Repayment of revolving credit facility | - | - | - | 0 |
| Proceeds from the issuance of debt, net of discounts and fees | 1,633 | 0 | 0 | 1,116 |
| Repayment of long-term debt | 1,039 | 300 | 300 | 0 |
| Repayment of acquired debt | - | - | 0 | 2 |
| Purchase of treasury stock | 790 | 752 | 86 | 190 |
| Dividends paid on ppg common stock | 628 | 622 | 598 | 570 |
| Other | -30 | -25 | -16 | -24 |
| Cash used for financing activities - continuing operations | -545 | -1,425 | - | - |
| Cash used for financing activities - discontinued operations | 0 | 0 | - | - |
| Cash used for financing activities | -545 | -1,425 | -1,550 | -409 |
| Effect of currency exchange rate changes on cash and cash equivalents | 197 | -325 | 110 | 1 |
| Cash reclassified to assets held for sale | 0 | 0 | - | 0 |
| Net increase/(decrease) in cash and cash equivalents | 893 | -223 | 415 | 94 |
| Cash and cash equivalents, beginning of year | 1,270 | 1,493 | 1,099 | 1,005 |
| Cash and cash equivalents, end of year | 2,163 | 1,270 | 1,514 | 1,099 |
PPG INDUSTRIES INC (PPG)
PPG INDUSTRIES INC (PPG)