WORTHINGTON STEEL, INC. (WS) FY2026 Annual Statement of Cash Flows
2025-06-01 to 2026-05-31
Statement of Cash Flows
2025-06-01 to 2026-05-31
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WORTHINGTON STEEL, INC. cash flow reconciliation, Jun 1, 2025 through May 31, 2026
Cash flows for Jun 1, 2025 through May 31, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: May 31, 2025. Ending cash: May 31, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.
- Beginning cash on May 31, 2025
- 92,900,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
- Operating activities
- 201,200,000 US dollars. Net cash provided.
- Net earnings (loss)
- negative 12,900,000 US dollars
- Depreciation and amortization
- 84,200,000 US dollars
- Impairment of goodwill, long-lived assets, and other assets
- 114,300,000 US dollars
- Provision for (benefit from) deferred income taxes
- negative 10,400,000 US dollars
- Bad debt expense
- 800,000 US dollars
- Equity in net income of unconsolidated affiliate, net of distributions
- 3,200,000 US dollars
- Net (gain) loss on sale of assets
- negative 4,700,000 US dollars
- Stock-based compensation
- 13,900,000 US dollars
- Unrealized gain on equity securities
- negative 16,000,000 US dollars
- Receivables
- negative 16,300,000 US dollars
- Inventories
- 47,200,000 US dollars
- Accounts payable
- negative 17,400,000 US dollars
- Accrued compensation and employee benefits
- 5,400,000 US dollars
- Other operating items, net
- 9,900,000 US dollars
- Investing activities
- negative 213,400,000 US dollars. Net cash used.
- Investment in property, plant and equipment
- negative 121,200,000 US dollars
- Proceeds from sale of assets, net of selling costs
- 16,600,000 US dollars
- Other investing activities
- 300,000 US dollars
- Purchases of equity securities
- negative 106,200,000 US dollars
- Acquisitions, net of cash acquired
- negative 2,900,000 US dollars
- Financing activities
- 3,000,000 US dollars. Net cash provided.
- Distribution to the Former Parent in connection with the Separation
- 0 US dollars
- Transfers to the Former Parent, net
- 0 US dollars
- Proceeds from short-term borrowings, net
- 25,000,000 US dollars
- Proceeds from revolving credit facility borrowings - swing loans
- 1,622,000,000 US dollars
- Repayment of revolving credit facility borrowings - swing loans
- negative 1,610,800,000 US dollars
- Proceeds from long-term debt, net of issuance costs
- 38,100,000 US dollars
- Payments of tax withholdings, net of proceeds from issuance of common shares
- negative 5,900,000 US dollars
- Principal payments on long-term debt
- negative 22,400,000 US dollars
- Payments of debt issuance costs
- negative 4,400,000 US dollars
- Payments to noncontrolling interests
- negative 6,000,000 US dollars
- Dividends paid
- negative 32,600,000 US dollars
- Operating adjustment reconciliation
- 278,900,000 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
- 1,685,100,000 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
- 230,300,000 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
- 900,000 US dollars
- Ending cash on May 31, 2026
- 84,600,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
- Cash sources and uses
- 298,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- Net cash change
- negative 8,300,000 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
- 201,200,000 US dollars. Operating cash flow used in the free cash flow calculation.
- Cash purchases of property, plant and equipment
- 121,200,000 US dollars. These cash purchases are already included in investing activities above.
- Free cash flow
- 80,000,000 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 −$12.90M + net operating adjustments $214.10M = operating cash +$201.20M. 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: 201,200,000 US dollars minus 121,200,000 US dollars equals 80,000,000 US dollars.
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