Kenvue Inc. (KVUE) FY2026 YTD Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-12-29 to 2026-06-28

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Kenvue Inc. cash flow reconciliation, Dec 29, 2025 through Jun 28, 2026One 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: $930,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $288,000,000.00Accounts payable and accrued liabilities → Operating adjustments reconciliation: $120,000,000.00Stock-based compensation → Operating adjustments reconciliation: $61,000,000.00Other → Operating adjustments reconciliation: $33,000,000.00Deferred income taxes → Operating adjustments reconciliation: $18,000,000.00Employee-related obligations → Operating adjustments reconciliation: $5,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $247,000,000.00Operating adjustments reconciliation → Trade receivables: $108,000,000.00Operating adjustments reconciliation → Other current and non-current assets: $85,000,000.00Operating adjustments reconciliation → Inventories: $69,000,000.00Operating adjustments reconciliation → Accrued taxes on income: $15,000,000.00Operating adjustments reconciliation → Other liabilities: $1,000,000.00investing reconciliation → Purchases of property, plant, and equipment: $203,000,000.00investing reconciliation → Other investing activities: $42,000,000.00Net cash used in financing activities → financing reconciliation: $882,000,000.00Proceeds from (repayments of) commercial paper program, net of repayments (proceeds) and issuance costs → financing reconciliation: $1,430,000,000.00financing reconciliation → Dividends paid: $796,000,000.00financing reconciliation → Repayments of commercial paper program—original maturities more than three months: $750,000,000.00financing reconciliation → Repayment of Senior Notes: $750,000,000.00financing reconciliation → Other financing activities: $16,000,000.00Net cash used in investing activities → investing reconciliation: $245,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $1,062,000,000.00Net cash from operating activities → Cash sources and uses: $1,177,000,000.00Cash sources and uses → Exchange-rate effect: $2,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $1,110,000,000.00Cash sources and uses → Net cash used in investing activities: $245,000,000.00Cash sources and uses → Net cash used in financing activities: $882,000,000.00Employee-related obligations: $5,000,000.00Accrued compensation+$5.00 MOther current and non-current assets: -$85,000,000.00Other operating assets−$85.00 MAccrued taxes on income: -$15,000,000.00Accrued taxes−$15.00 MNet income: $930,000,000.00Net income+$930.00 MOther: $33,000,000.00Other non-cash items+$33.00 MDeferred income taxes: $18,000,000.00Deferred income taxes+$18.00 MOther liabilities: -$1,000,000.00Other operating liabilities−$1.00 MTrade receivables: -$108,000,000.00Accounts receivable−$108.00 MInventories: -$69,000,000.00Inventories−$69.00 MAccounts payable and accrued liabilities: $120,000,000.00Payables & accrued liabilities+$120.00 MStock-based compensation: $61,000,000.00Stock-based compensation+$61.00 MDepreciation and amortization: $288,000,000.00Depreciation & amortization+$288.00 MNet cash from operating activities: $1,177,000,000.00Operating cash+$1.18 BOperating adjustments reconciliation: $525,000,000.00Proceeds from (repayments of) commercial paper program, net of repayments (proceeds) and issuance costs: $1,430,000,000.00Commercial paper, net+$1.43 BRepayments of commercial paper program—original maturities more than three months: -$750,000,000.00Short-term debt repaid, 90+ days−$750.00 MProceeds from issuance of Senior Notes, net of issuance costs: $0.00Repayment of Senior Notes: -$750,000,000.00Senior debt repaid−$750.00 MDividends paid: -$796,000,000.00Dividends paid−$796.00 MPurchase of treasury stock: $0.00Other financing activities: -$16,000,000.00Other financing, net−$16.00 MNet cash used in financing activities: -$882,000,000.00. Cash required to fund net payments.Financing cash−$882.00 Mfinancing reconciliation: $2,312,000,000.00Other investing activities: -$42,000,000.00Other investing, net−$42.00 MPurchases of property, plant, and equipment: -$203,000,000.00PP&E purchases−$203.00 MNet cash used in investing activities: -$245,000,000.00. Cash required to fund net payments.Investing cash−$245.00 Minvesting reconciliation: $245,000,000.00Cash sources and uses: $2,239,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $1,062,000,000.00Beginning cash$1.06 BEnding cash: Cash, cash equivalents, and restricted cash: $1,110,000,000.00Ending cash$1.11 BExchange-rate effect: -$2,000,000.00FX effect−$2.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$974.00 MOperating cash − cash spent on PP&ECash flow / Net income1.27×Operating cash flow ÷ net incomeNet cash change+$48.00 MEnding cash − beginning cash
Chart details

Kenvue Inc. cash flow reconciliation, Dec 29, 2025 through Jun 28, 2026

Cash flows for Dec 29, 2025 through Jun 28, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 28, 2025. Ending cash: Jun 28, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 28, 2025
1,062,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
1,177,000,000 US dollars. Net cash provided.
Net income
930,000,000 US dollars
Employee-related obligations
5,000,000 US dollars
Other current and non-current assets
negative 85,000,000 US dollars
Accrued taxes on income
negative 15,000,000 US dollars
Other
33,000,000 US dollars
Deferred income taxes
18,000,000 US dollars
Other liabilities
negative 1,000,000 US dollars
Trade receivables
negative 108,000,000 US dollars
Inventories
negative 69,000,000 US dollars
Accounts payable and accrued liabilities
120,000,000 US dollars
Stock-based compensation
61,000,000 US dollars
Depreciation and amortization
288,000,000 US dollars
Investing activities
negative 245,000,000 US dollars. Net cash used.
Other investing activities
negative 42,000,000 US dollars
Purchases of property, plant, and equipment
negative 203,000,000 US dollars
Financing activities
negative 882,000,000 US dollars. Net cash used.
Proceeds from (repayments of) commercial paper program, net of repayments (proceeds) and issuance costs
1,430,000,000 US dollars
Repayments of commercial paper program—original maturities more than three months
negative 750,000,000 US dollars
Proceeds from issuance of Senior Notes, net of issuance costs
0 US dollars
Repayment of Senior Notes
negative 750,000,000 US dollars
Dividends paid
negative 796,000,000 US dollars
Purchase of treasury stock
0 US dollars
Other financing activities
negative 16,000,000 US dollars
Operating adjustment reconciliation
525,000,000 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
2,312,000,000 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
245,000,000 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
negative 2,000,000 US dollars
Ending cash on Jun 28, 2026
1,110,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
2,239,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
48,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.27×. 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
1,177,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
203,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
974,000,000 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 $247.00M 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: 1,177,000,000 US dollars minus 203,000,000 US dollars equals 974,000,000 US dollars.
Kenvue Inc. (KVUE) FY2026 YTD Q2 Statement of Cash Flows Sankey chart
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