For the quarter ending 2025-12-27, TDG had -$280M decrease in cash & cash equivalents over the period. $772M in free cash flow.
| Cash Flow | 2025-12-27 | 2025-09-30 | 2025-06-28 | 2025-03-29 |
|---|---|---|---|---|
| Net income | 445 | 609 | 493 | 479 |
| Depreciation | 44 | 42 | 40 | 41 |
| Amortization of intangible assets and product certification costs | 56 | 54 | 52 | 48 |
| Amortization of debt issuance costs and original issue discount | 11 | 10 | 9 | 10 |
| Amortization of inventory step-up | - | 1 | 2 | 0 |
| Amortization of loss contract reserves | - | 13 | 8 | 11 |
| Refinancing costs | - | 4 | 7 | 0 |
| Gain on sale of businesses, net | 0 | -7 | -2 | 0 |
| Non-cash stock and deferred compensation expense | 27 | 33 | 51 | 48 |
| Deferred income taxes | 1 | 7 | 1 | 0 |
| Foreign currency exchange losses | - | 1 | -21 | -10 |
| Gain on settlement of the esterline retirement plan (the erp) | - | 0 | - | - |
| Cash refund for the erp settlement, net | - | 0 | - | - |
| Trade accounts receivable | -94 | 86 | 60 | 146 |
| Inventories | 96 | -11 | 44 | 44 |
| Income taxes payable | 70 | 7 | 6 | -198 |
| Other assets | 16 | 49 | 18 | -14 |
| Accounts payable | -25 | 37 | 3 | 1 |
| Accrued interest | 270 | -172 | 68 | -74 |
| Accrued and other liabilities | -47 | 20 | 8 | -30 |
| Net cash provided by operating activities | 832 | 507 | 631 | 148 |
| Capital expenditures | 60 | 66 | 58 | 56 |
| Acquisition of businesses, net of cash acquired | 907 | 180 | 99 | 111 |
| Other investing transactions, net | 6 | 0 | -1 | 47 |
| Net cash used in investing activities | -973 | -246 | -158 | -167 |
| Proceeds from exercise of stock options | 29 | 19 | 58 | 54 |
| Dividends and dividend equivalent payments | 59 | 5,233 | 0 | 0 |
| Repurchases of common stock | 106 | 0 | 131 | 53 |
| Proceeds from issuance of senior secured notes, net | - | 494 | 0 | 0 |
| Repayments of senior secured notes | - | 0 | 0 | 0 |
| Proceeds from issuance of senior subordinated notes, net | - | 1,983 | 2,615 | - |
| Proceeds from term loans, net | - | 6,015 | 0 | 0 |
| Repayments of senior subordinated notes, net | - | 0 | 2,650 | - |
| Proceeds from trade receivable securitization facility, net | 0 | 75 | 0 | 0 |
| Repayment on term loans | - | 3,578 | 22 | 22 |
| Financing costs and other, net | -5 | -6 | 1 | -3 |
| Net cash used in financing activities | -141 | -231 | -129 | -24 |
| Effect of exchange rate changes on cash and cash equivalents | 2 | -14 | 22 | 10 |
| Net decrease in cash and cash equivalents | -280 | 16 | 366 | -33 |
| Cash and cash equivalents at beginning of period | 2,808 | 2,792 | 2,426 | 2,459 |
| Cash and cash equivalents at end of period | 2,528 | 2,808 | 2,792 | 2,426 |
TransDigm Group INC (TDG)
TransDigm Group INC (TDG)