# AIR PRODUCTS AND CHEMICALS, INC. (APD) FY2025 Annual Statement of Cash Flows

- Company: AIR PRODUCTS AND CHEMICALS, INC. (APD)
- Period: 2024-10-01 to 2025-09-30
- Filing: FY2025 10-K, filed 2025-11-20, accession number 0000002969-25-000055
- Page: https://plicit.ai/financials/apd/fy2025-annual-cash-flow
- Chart image: https://plicit.ai/charts/apd-fy2025-annual-cash-flow-sankey.png

## Chart details

Cash flows for Oct 1, 2024 through Sep 30, 2025. Cash basis: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations. Beginning cash: Sep 30, 2024. Ending cash: Sep 30, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

- **Beginning cash on Sep 30, 2024**: 2,979,700,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations
- **Operating activities**: 3,256,800,000 US dollars. Net cash provided.
- **Net income (loss) from continuing operations attributable to Air Products**: negative 386,500,000 US dollars
- **Depreciation and amortization**: 1,564,200,000 US dollars
- **Deferred income taxes**: negative 554,800,000 US dollars
- **Tax reform repatriation**: negative 34,900,000 US dollars
- **Business and asset actions**: 3,747,000,000 US dollars
- **Gain on sale of business**: negative 67,300,000 US dollars
- **Undistributed earnings of equity method investments**: negative 269,800,000 US dollars
- **Gain on sale of assets and investments**: negative 66,400,000 US dollars
- **Share-based compensation**: 76,400,000 US dollars
- **Noncurrent lease receivables**: 52,500,000 US dollars
- **Other adjustments**: 48,000,000 US dollars
- **Trade receivables**: negative 36,300,000 US dollars
- **Inventories**: negative 35,800,000 US dollars
- **Other receivables**: 7,100,000 US dollars
- **Payables and accrued liabilities**: negative 224,000,000 US dollars
- **Other working capital**: negative 562,600,000 US dollars
- **Investing activities**: negative 7,168,700,000 US dollars. Net cash used.
- **Additions to plant and equipment, including long-term deposits**: negative 7,022,600,000 US dollars
- **Acquisitions, less cash acquired**: negative 59,900,000 US dollars
- **Investment in and advances to unconsolidated affiliates**: negative 390,400,000 US dollars
- **Investment in financing receivables**: negative 61,900,000 US dollars
- **Proceeds from sale of assets and investments**: 245,800,000 US dollars
- **Purchases of short-term investments**: negative 117,600,000 US dollars
- **Proceeds from short-term investments**: 122,500,000 US dollars
- **Proceeds from other investing activities**: 115,400,000 US dollars
- **Financing activities**: 2,795,200,000 US dollars. Net cash provided.
- **Long-term debt proceeds**: 4,386,700,000 US dollars
- **Payments on long-term debt**: negative 429,900,000 US dollars
- **Net (decrease) increase in commercial paper and short-term borrowings**: negative 74,700,000 US dollars
- **Dividends paid to shareholders**: negative 1,584,100,000 US dollars
- **Proceeds from stock option exercises**: 1,100,000 US dollars
- **Investments by noncontrolling interests**: 594,600,000 US dollars
- **Distributions to noncontrolling interests**: negative 7,200,000 US dollars
- **Other financing activities**: negative 91,300,000 US dollars
- **Operating adjustment reconciliation**: 5,495,200,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
- **financing gross reconciliation**: 4,982,400,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- **investing gross reconciliation**: 7,652,400,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- **Exchange-rate effect**: negative 7,000,000 US dollars
- **Ending cash on Sep 30, 2025**: 1,856,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations
- **Cash sources and uses**: 9,031,700,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- **Net cash change**: negative 1,123,700,000 US dollars. Ending cash minus beginning cash.
- **Cash flow / Net income**: Unavailable. Operating cash flow and reconciliation net income for the same period are required.
- **Operating cash flow**: 3,256,800,000 US dollars. Operating cash flow used in the free cash flow calculation.
- **Cash purchases of property, plant and equipment**: 7,022,600,000 US dollars. These cash purchases are already included in investing activities above.
- **Free cash flow**: negative 3,765,800,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

### Chart connections

- Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
- Financing contributions meet at a reconciliation junction before connecting to the net cash total.
- Investing contributions meet at a reconciliation junction before connecting to the net cash total.
- Operating reconciliation adjustments are not all independent cash receipts.
- Net loss −$386.50M + net operating adjustments $3.64B = operating cash +$3.26B. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
- Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
- The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
- Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 3,256,800,000 US dollars minus 7,022,600,000 US dollars equals negative 3,765,800,000 US dollars.