Waters Corporation (WAT) FY2026 Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-04-05 to 2026-07-04

Swipe to see the full flow
Waters Corporation cash flow reconciliation, Apr 5, 2026 through Jul 4, 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. Calculated remaining financing cash flows are purple; remaining operating and investing bundles are gray. Their underlying inflows and outflows are not separately identified. 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.Increase (decrease) in accounts payable and other current liabilities → operating reconciliation: $322,000,000.00Amortization of intangibles → operating reconciliation: $266,000,000.00Remaining operating cash flows, net (calculated) → operating reconciliation: $154,000,000.00Decrease in other liabilities → operating reconciliation: $139,000,000.00Deferred income taxes → operating reconciliation: $115,000,000.00Depreciation → operating reconciliation: $35,000,000.00Stock-based compensation → operating reconciliation: $25,000,000.00operating reconciliation → Net cash from operating activities: $201,000,000.00operating reconciliation → Net (loss) income: $136,000,000.00operating reconciliation → Increase in other current assets: $256,000,000.00operating reconciliation → (Increase) decrease in accounts receivable: $249,000,000.00operating reconciliation → Decrease in other assets: $157,000,000.00operating reconciliation → Increase in inventories: $35,000,000.00operating reconciliation → Increase in deferred revenue and customer advances: $22,000,000.00Remaining investing cash flows, net (calculated) → investing reconciliation: $50,000,000.00investing reconciliation → Net cash from investing activities: $2,000,000.00investing reconciliation → Additions to property, plant, equipment and software capitalization: $48,000,000.00Net cash used in financing activities → financing reconciliation: $124,000,000.00Proceeds from debt issuances → financing reconciliation: $212,000,000.00Proceeds from stock plans → financing reconciliation: $12,000,000.00financing reconciliation → Payments on debt: $340,000,000.00financing reconciliation → Payments of debt issuance costs: $3,000,000.00financing reconciliation → (Payments for) proceeds from derivative contracts: $3,000,000.00financing reconciliation → Purchases of treasury shares: $2,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $462,000,000.00Net cash from operating activities → Cash sources and uses: $201,000,000.00Net cash from investing activities → Cash sources and uses: $2,000,000.00Cash sources and uses → Exchange-rate effect: $2,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $539,000,000.00Cash sources and uses → Net cash used in financing activities: $124,000,000.00Net (loss) income: -$136,000,000.00Net (loss) income−$136.00 MDecrease in other liabilities: $139,000,000.00Other operating liabilities+$139.00 MIncrease in deferred revenue and customer advances: -$22,000,000.00Increase in deferred revenue and customer advances−$22.00 MIncrease (decrease) in accounts payable and other current liabilities: $322,000,000.00Payables & accrued liabilities+$322.00 MDecrease in other assets: -$157,000,000.00Other operating assets−$157.00 MIncrease in other current assets: -$256,000,000.00Prepaid & other assets−$256.00 MIncrease in inventories: -$35,000,000.00Inventories−$35.00 M(Increase) decrease in accounts receivable: -$249,000,000.00Accounts receivable−$249.00 MAmortization of intangibles: $266,000,000.00Amortization expense+$266.00 MDepreciation: $35,000,000.00Depreciation expense+$35.00 MDeferred income taxes: $115,000,000.00Deferred income taxes+$115.00 MStock-based compensation: $25,000,000.00Stock-based compensation+$25.00 MRemaining operating cash flows, net (calculated): $154,000,000.00Remaining operating (calculated)+$154.00 MNet cash from operating activities: $201,000,000.00Operating cash+$201.00 Moperating reconciliation: $1,056,000,000.00Payments of debt issuance costs: -$3,000,000.00Debt issuance costs−$3.00 M(Payments for) proceeds from derivative contracts: -$3,000,000.00Financing derivatives, net−$3.00 MPurchases of treasury shares: -$2,000,000.00Common stock repurchases−$2.00 MProceeds from stock plans: $12,000,000.00Employee stock plans & options+$12.00 MPayments on debt: -$340,000,000.00Long-term debt repaid−$340.00 MProceeds from debt issuances: $212,000,000.00Long-term debt issued+$212.00 MNet cash used in financing activities: -$124,000,000.00. Cash required to fund net payments.Financing cash−$124.00 Mfinancing reconciliation: $348,000,000.00Additions to property, plant, equipment and software capitalization: -$48,000,000.00Capital expenditures−$48.00 MInvestments in unaffiliated companies, net: $0.00Remaining investing cash flows, net (calculated): $50,000,000.00Remaining investing (calculated)+$50.00 MNet cash from investing activities: $2,000,000.00Investing cash+$2.00 Minvesting reconciliation: $50,000,000.00Cash sources and uses: $665,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $462,000,000.00Beginning cash$462.00 MEnding cash: Cash, cash equivalents, and restricted cash: $539,000,000.00Ending cash$539.00 MExchange-rate effect: -$2,000,000.00FX effect−$2.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsNet loss −$136.00M + net operating adjustments $337.00M = operating cash +$201.00MFree cash flow$153.00 MOperating cash − cash spent on productive assetsCash flow / Net incomeNot meaningfulOperating cash flow ÷ net incomeNet cash change+$77.00 MEnding cash − beginning cash
Chart details

Waters Corporation cash flow reconciliation, Apr 5, 2026 through Jul 4, 2026

Cash flows for Apr 5, 2026 through Jul 4, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Apr 4, 2026. Ending cash: Jul 4, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Apr 4, 2026
462,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
201,000,000 US dollars. Net cash provided. The remaining amount is calculated by subtracting the other displayed items from the operating total. This quarter is the year to date less the prior quarter's year to date. The prior quarter reported part of this section under different lines (Acquisition-related inventory and fixed assets fair value step-ups recognized), so Amortization of acquisition-related inventory and fixed assets step-up recognized cannot be separated for this quarter. It may combine inflows and outflows.
Net (loss) income
negative 136,000,000 US dollars
Decrease in other liabilities
139,000,000 US dollars
Increase in deferred revenue and customer advances
negative 22,000,000 US dollars
Increase (decrease) in accounts payable and other current liabilities
322,000,000 US dollars
Decrease in other assets
negative 157,000,000 US dollars
Increase in other current assets
negative 256,000,000 US dollars
Increase in inventories
negative 35,000,000 US dollars
(Increase) decrease in accounts receivable
negative 249,000,000 US dollars
Amortization of intangibles
266,000,000 US dollars
Depreciation
35,000,000 US dollars
Deferred income taxes
115,000,000 US dollars
Stock-based compensation
25,000,000 US dollars
Remaining operating cash flows, net (calculated)
154,000,000 US dollars
Investing activities
2,000,000 US dollars. Net cash provided. The remaining amount is calculated by subtracting the other displayed items from the investing total. The filing's tagged investing lines do not add up to the investing total; this is the difference. This quarter is the year to date less the prior quarter's year to date. The prior quarter reported part of this section under different lines (Cash acquired in business acquisition), so Cash acquired in business acquisition and Change in deposit asset, related to deferred close entities cannot be separated for this quarter. It may combine inflows and outflows.
Additions to property, plant, equipment and software capitalization
negative 48,000,000 US dollars
Investments in unaffiliated companies, net
0 US dollars
Remaining investing cash flows, net (calculated)
50,000,000 US dollars
Financing activities
negative 124,000,000 US dollars. Net cash used.
Payments of debt issuance costs
negative 3,000,000 US dollars
(Payments for) proceeds from derivative contracts
negative 3,000,000 US dollars
Purchases of treasury shares
negative 2,000,000 US dollars
Proceeds from stock plans
12,000,000 US dollars
Payments on debt
negative 340,000,000 US dollars
Proceeds from debt issuances
212,000,000 US dollars
Operating adjustment reconciliation
1,056,000,000 US dollars. Intermediate calculation joining the displayed items and the calculated net remainder. It does not establish gross cash receipts or payments and is not an additional cash flow.
financing gross reconciliation
348,000,000 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 displayed reconciliation
50,000,000 US dollars. Intermediate calculation joining the displayed items and the calculated net remainder. It does not establish gross cash receipts or payments and is not an additional cash flow.
Exchange-rate effect
negative 2,000,000 US dollars
Ending cash on Jul 4, 2026
539,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
665,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
77,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.
Operating cash flow
201,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
cash spent on productive assets
48,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
153,000,000 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 loss −$136.00M + net operating adjustments $337.00M = operating cash +$201.00M. 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 spent on productive assets equals free cash flow: 201,000,000 US dollars minus 48,000,000 US dollars equals 153,000,000 US dollars.
Waters Corporation (WAT) FY2026 Q2 Statement of Cash Flows Sankey chart
Free to share unchanged, with credit to Plicit.ai · CC BY-NC-ND 4.0Download PNG

Newsletter

Get the teardowns by email

Subscribe if you want the public-company teardowns in your inbox when they're released.

Product waitlist

Health Check and Teardown for your own company

A health check uncovers insights of your private books, not a public ticker. Join this list to get notified as soon as we go-live!