# WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION (WAB) FY2025 Annual Statement of Cash Flows

- Company: WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION (WAB)
- Period: 2025-01-01 to 2025-12-31
- Filing: FY2025 10-K, filed 2026-02-13, accession number 0001628280-26-008067
- Page: https://plicit.ai/financials/wab/fy2025-annual-cash-flow
- Chart image: https://plicit.ai/charts/wab-fy2025-annual-cash-flow-sankey.png

## Chart details

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**: 715,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
- **Operating activities**: 1,759,000,000 US dollars. Net cash provided.
- **Net income**: 1,183,000,000 US dollars
- **Depreciation and amortization**: 501,000,000 US dollars
- **Stock-based compensation expense**: 80,000,000 US dollars
- **Net loss on business disposition**: 38,000,000 US dollars
- **Net gain on mark-to-market derivatives**: negative 19,000,000 US dollars
- **Below market intangible amortization**: negative 44,000,000 US dollars
- **Deferred income taxes**: 11,000,000 US dollars
- **Net loss on disposal of property, plant and equipment**: 2,000,000 US dollars
- **Accounts receivable and unbilled accounts receivable**: negative 36,000,000 US dollars
- **Inventories**: negative 182,000,000 US dollars
- **Accounts payable**: 34,000,000 US dollars
- **Accrued income taxes**: 6,000,000 US dollars
- **Current and noncurrent customer deposits**: 146,000,000 US dollars
- **Other accrued liabilities**: 36,000,000 US dollars
- **Other operating activities**: 3,000,000 US dollars
- **Investing activities**: negative 2,747,000,000 US dollars. Net cash used.
- **Acquisitions of businesses, net of cash acquired**: negative 2,520,000,000 US dollars
- **Purchase of property, plant and equipment**: negative 260,000,000 US dollars
- **Proceeds from dispositions of businesses, net of cash disposed**: 8,000,000 US dollars
- **Settlement of foreign currency derivatives related to acquisition**: 20,000,000 US dollars
- **Proceeds from disposal of property, plant and equipment**: 5,000,000 US dollars
- **Financing activities**: 1,031,000,000 US dollars. Net cash provided.
- **Proceeds from debt, net of issuance costs**: 4,708,000,000 US dollars
- **Payments of debt**: negative 3,224,000,000 US dollars
- **Repurchase of stock**: negative 223,000,000 US dollars
- **Cash dividends**: negative 173,000,000 US dollars
- **Payment of contingent consideration**: 0 US dollars
- **Payment of income tax withholding on share-based compensation**: negative 40,000,000 US dollars
- **Distribution to noncontrolling interest**: negative 6,000,000 US dollars
- **Other financing activities**: negative 11,000,000 US dollars
- **Operating adjustment reconciliation**: 857,000,000 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**: 4,708,000,000 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**: 2,780,000,000 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**: 31,000,000 US dollars
- **Ending cash on Dec 31, 2025**: 789,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
- **Cash sources and uses**: 3,536,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- **Net cash change**: 74,000,000 US dollars. Ending cash minus beginning cash.
- **Cash flow / Net income**: 1.49×. 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**: 1,759,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
- **Cash purchases of property, plant and equipment**: 260,000,000 US dollars. These cash purchases are already included in investing activities above.
- **Free cash flow**: 1,499,000,000 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 $576.00M 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: 1,759,000,000 US dollars minus 260,000,000 US dollars equals 1,499,000,000 US dollars.