HOWMET AEROSPACE INC. (HWM) FY2025 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-01-01 to 2025-12-31

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HOWMET AEROSPACE INC. cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $1,508,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $283,000,000.00Increase in accrued expenses → Operating adjustments reconciliation: $96,000,000.00Restructuring and other charges → Operating adjustments reconciliation: $84,000,000.00Stock-based compensation → Operating adjustments reconciliation: $73,000,000.00Increase (decrease) in noncurrent liabilities → Operating adjustments reconciliation: $68,000,000.00Net periodic pension cost (G) → Operating adjustments reconciliation: $42,000,000.00Net realized and unrealized losses → Operating adjustments reconciliation: $22,000,000.00Deferred income taxes → Operating adjustments reconciliation: $17,000,000.00Loss on debt redemption (Q) → Operating adjustments reconciliation: $15,000,000.00Other → Operating adjustments reconciliation: $8,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $376,000,000.00Operating adjustments reconciliation → Increase in receivables (L): $109,000,000.00Operating adjustments reconciliation → Decrease in accounts payable, trade: $73,000,000.00Operating adjustments reconciliation → Pension contributions: $70,000,000.00Operating adjustments reconciliation → Increase in inventories: $50,000,000.00Operating adjustments reconciliation → Increase in noncurrent assets: $14,000,000.00Operating adjustments reconciliation → Increase in prepaid expenses and other current assets: $10,000,000.00Operating adjustments reconciliation → Decrease in taxes, including income taxes: $6,000,000.00Sale of investments → investing reconciliation: $15,000,000.00Proceeds from the sale of assets and businesses (D) → investing reconciliation: $9,000,000.00investing reconciliation → Capital expenditures (C and S): $453,000,000.00investing reconciliation → Additions to investments: $9,000,000.00Net cash used in financing activities → financing reconciliation: $1,269,000,000.00Additions to debt (Q) → financing reconciliation: $500,000,000.00Proceeds from exercise of employee stock options → financing reconciliation: $1,000,000.00financing reconciliation → Repurchases and payments on debt (Q): $765,000,000.00financing reconciliation → Repurchases of common stock (I): $700,000,000.00financing reconciliation → Dividends paid to shareholders (I): $181,000,000.00financing reconciliation → Redemption of preferred stock: $55,000,000.00financing reconciliation → Taxes paid for net share settlement of equity awards: $46,000,000.00financing reconciliation → Premiums paid on early redemption of debt (Q): $15,000,000.00financing reconciliation → Debt issuance costs (Q): $5,000,000.00financing reconciliation → Other: $3,000,000.00Net cash used in investing activities → investing reconciliation: $438,000,000.00Exchange-rate effect → Cash sources and uses: $1,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $565,000,000.00Net cash from operating activities → Cash sources and uses: $1,884,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $743,000,000.00Cash sources and uses → Net cash used in investing activities: $438,000,000.00Cash sources and uses → Net cash used in financing activities: $1,269,000,000.00Increase in receivables (L): -$109,000,000.00Receivables, net−$109.00 MNet periodic pension cost (G): $42,000,000.00Net periodic pension cost (G)+$42.00 MNet income: $1,508,000,000.00Net income+$1.51 BPension contributions: -$70,000,000.00Pension contributions−$70.00 MIncrease in prepaid expenses and other current assets: -$10,000,000.00Prepaid & other assets−$10.00 MOther: $8,000,000.00Other non-cash items+$8.00 MDecrease in accounts payable, trade: -$73,000,000.00Trade payables−$73.00 MIncrease in accrued expenses: $96,000,000.00Accrued liabilities+$96.00 MDecrease in taxes, including income taxes: -$6,000,000.00Accrued taxes−$6.00 MIncrease (decrease) in noncurrent liabilities: $68,000,000.00Other noncurrent liabilities+$68.00 MIncrease in inventories: -$50,000,000.00Inventories−$50.00 MRestructuring and other charges: $84,000,000.00Restructuring & impairment+$84.00 MNet realized and unrealized losses: $22,000,000.00Investment gain & loss+$22.00 MIncrease in noncurrent assets: -$14,000,000.00Other noncurrent assets−$14.00 MStock-based compensation: $73,000,000.00Stock-based compensation+$73.00 MDeferred income taxes: $17,000,000.00Deferred taxes & credits+$17.00 MDepreciation and amortization: $283,000,000.00Depreciation & amortization+$283.00 MLoss on debt redemption (Q): $15,000,000.00Debt extinguishment gain & loss+$15.00 MNet cash from operating activities: $1,884,000,000.00Operating cash+$1.88 BOperating adjustments reconciliation: $708,000,000.00Proceeds from exercise of employee stock options: $1,000,000.00Stock option exercises+$1.00 MDividends paid to shareholders (I): -$181,000,000.00Ordinary dividends paid−$181.00 MTaxes paid for net share settlement of equity awards: -$46,000,000.00Stock-award tax withholding−$46.00 MRepurchases and payments on debt (Q): -$765,000,000.00Long-term debt repaid−$765.00 MRepurchases of common stock (I): -$700,000,000.00Common stock repurchases−$700.00 MAdditions to debt (Q): $500,000,000.00Long-term debt issued+$500.00 MPremiums paid on early redemption of debt (Q): -$15,000,000.00Debt extinguishment costs−$15.00 MDebt issuance costs (Q): -$5,000,000.00Debt issuance costs−$5.00 MOther: -$3,000,000.00Other financing, net−$3.00 MRedemption of preferred stock: -$55,000,000.00Redemption of preferred stock−$55.00 MNet cash used in financing activities: -$1,269,000,000.00. Cash required to fund net payments.Financing cash−$1.27 Bfinancing reconciliation: $1,770,000,000.00Capital expenditures (C and S): -$453,000,000.00PP&E purchases−$453.00 MOther: $0.00Additions to investments: -$9,000,000.00HTM securities purchases−$9.00 MAcquisitions, net of cash acquired: $0.00Proceeds from the sale of assets and businesses (D): $9,000,000.00Business & asset sales+$9.00 MSale of investments: $15,000,000.00Investment sales & maturities+$15.00 MNet cash used in investing activities: -$438,000,000.00. Cash required to fund net payments.Investing cash−$438.00 Minvesting reconciliation: $462,000,000.00Cash sources and uses: $2,450,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $565,000,000.00Beginning cash$565.00 MEnding cash: Cash, cash equivalents, and restricted cash: $743,000,000.00Ending cash$743.00 MExchange-rate effect: $1,000,000.00FX effect+$1.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$1.43 BOperating cash − cash spent on PP&ECash flow / Net income1.25×Operating cash flow ÷ net incomeNet cash change+$178.00 MEnding cash − beginning cash
Chart details

HOWMET AEROSPACE INC. cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025

Cash flows for Jan 1, 2025 through Dec 31, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2024. Ending cash: Dec 31, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2024
565,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
1,884,000,000 US dollars. Net cash provided.
Net income
1,508,000,000 US dollars
Increase in receivables (L)
negative 109,000,000 US dollars
Net periodic pension cost (G)
42,000,000 US dollars
Pension contributions
negative 70,000,000 US dollars
Increase in prepaid expenses and other current assets
negative 10,000,000 US dollars
Other
8,000,000 US dollars
Decrease in accounts payable, trade
negative 73,000,000 US dollars
Increase in accrued expenses
96,000,000 US dollars
Decrease in taxes, including income taxes
negative 6,000,000 US dollars
Increase (decrease) in noncurrent liabilities
68,000,000 US dollars
Increase in inventories
negative 50,000,000 US dollars
Restructuring and other charges
84,000,000 US dollars
Net realized and unrealized losses
22,000,000 US dollars
Increase in noncurrent assets
negative 14,000,000 US dollars
Stock-based compensation
73,000,000 US dollars
Deferred income taxes
17,000,000 US dollars
Depreciation and amortization
283,000,000 US dollars
Loss on debt redemption (Q)
15,000,000 US dollars
Investing activities
negative 438,000,000 US dollars. Net cash used.
Capital expenditures (C and S)
negative 453,000,000 US dollars
Other
0 US dollars
Additions to investments
negative 9,000,000 US dollars
Acquisitions, net of cash acquired
0 US dollars
Proceeds from the sale of assets and businesses (D)
9,000,000 US dollars
Sale of investments
15,000,000 US dollars
Financing activities
negative 1,269,000,000 US dollars. Net cash used.
Proceeds from exercise of employee stock options
1,000,000 US dollars
Dividends paid to shareholders (I)
negative 181,000,000 US dollars
Taxes paid for net share settlement of equity awards
negative 46,000,000 US dollars
Repurchases and payments on debt (Q)
negative 765,000,000 US dollars
Repurchases of common stock (I)
negative 700,000,000 US dollars
Additions to debt (Q)
500,000,000 US dollars
Premiums paid on early redemption of debt (Q)
negative 15,000,000 US dollars
Debt issuance costs (Q)
negative 5,000,000 US dollars
Other
negative 3,000,000 US dollars
Redemption of preferred stock
negative 55,000,000 US dollars
Operating adjustment reconciliation
708,000,000 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
1,770,000,000 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
462,000,000 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
1,000,000 US dollars
Ending cash on Dec 31, 2025
743,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
2,450,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
178,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.25×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
1,884,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
453,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
1,431,000,000 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 income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $376.00M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • 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: 1,884,000,000 US dollars minus 453,000,000 US dollars equals 1,431,000,000 US dollars.
HOWMET AEROSPACE INC. (HWM) FY2025 Annual Statement of Cash Flows Sankey chart
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