Stock Analysis on Net

T-Mobile US Inc. (NASDAQ:TMUS)

$24.99

Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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T-Mobile US Inc., consolidated cash flow statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net income
Depreciation and amortization
Stock-based compensation expense
Deferred income tax expense
Bad debt expense
Losses from sales of receivables
Losses on redemption of debt
Impairment expense
Loss on remeasurement of disposal group held for sale
Accounts receivable
Equipment installment plan receivables
Inventory
Operating lease right-of-use assets
Other current and long-term assets
Accounts payable and accrued liabilities
Short- and long-term operating lease liabilities
Other current and long-term liabilities
Changes in operating assets and liabilities
Other, net
Adjustments to reconcile net income to net cash provided by operating activities
Net cash provided by operating activities
Purchases of property and equipment, including capitalized interest
Purchases of spectrum licenses and other intangible assets, including deposits
Proceeds from sales of tower sites
Proceeds related to beneficial interests in securitization transactions
Net cash related to derivative contracts under collateral exchange arrangements
Acquisition of companies, net of cash acquired
Proceeds from the divestiture of prepaid business
Other, net
Net cash used in investing activities
Proceeds from issuance of long-term debt
Payments of consent fees related to long-term debt
Repayments of financing lease obligations
Repayments of short-term debt for purchases of inventory, property and equipment and other financial liabilities
Repayments of long-term debt
Issuance of common stock
Repurchases of common stock
Dividends on common stock
Proceeds from issuance of short-term debt
Repayments of short-term debt
Tax withholdings on share-based awards
Cash payments for debt prepayment or debt extinguishment costs
Other, net
Net cash provided by (used in) financing activities
Change in cash and cash equivalents, including restricted cash and cash held for sale
Cash and cash equivalents, including restricted cash and cash held for sale, beginning of period
Cash and cash equivalents, including restricted cash and cash held for sale, end of period

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).


Net Income
Net income demonstrated variability, initially declining from 3,064 million US dollars in 2020 to 2,590 million in 2022, followed by a strong recovery to 8,317 million in 2023 and 11,339 million in 2024, indicating improved profitability in the later years.
Depreciation and Amortization
This expense peaked in 2021 at 16,383 million but declined steadily thereafter to about 12,919 million in 2024, suggesting reduced capital asset base or optimization in asset usage.
Stock-Based Compensation Expense
Stock-based compensation expense remained relatively stable with slight fluctuations, held around the 540–695 million range, showing consistent employee compensation practices over the years.
Deferred Income Tax Expense
Deferred tax expense showed considerable growth, from 822 million in 2020 to 3,120 million in 2024, indicating increased tax liabilities or timing differences in recognition of taxable income.
Bad Debt Expense
Bad debt expense varied, reaching a high of 1,192 million in 2024 after a peak of 1,026 million in 2022, suggesting ongoing challenges in receivables collection or credit risk management.
Losses From Sales of Receivables
Losses peaked sharply in 2022 at 214 million but decreased thereafter, indicating possible restructuring in receivables management or reduced reliance on sales of receivables.
Other Losses (Redemption of Debt, Impairment, Disposal Group Remeasurement)
Losses on redemption of debt were present in 2020 and 2021 but discontinued afterward. Impairment expense was notable in 2020 and 2022 but absent in other years. A loss on remeasurement of disposal group appeared in 2022 and diminished by 2023, showing episodic non-recurring losses.
Working Capital and Operating Assets and Liabilities
Significant changes in working capital components were observed:
Accounts Receivable and Related Items
Accounts receivable were consistently negative, indicating decreases or collections exceeding sales on credit. Equipment installment plan receivables showed irregular patterns, with a notable increase in 2023 (positive 170 million), suggesting changes in financing arrangements.
Inventory
Inventory turned positive starting in 2021 and increased moderately through 2024, indicating buildup or improved stock management after depletion in 2020.
Operating Lease Assets and Liabilities
Operating lease right-of-use assets increased sharply up to 2022 but declined thereafter. Corresponding lease liabilities followed a downward trend starting from a high in 2021, reflecting possible lease consolations or terminations.
Other Current and Long-Term Assets and Liabilities
Other asset and liability balances showed mostly negative changes, indicating reductions or paydowns in related accounts.
Overall Changes in Operating Assets and Liabilities
The aggregate changes shrank notably in 2022 but increased again in subsequent years, exhibiting continued working capital management activities with fluctuating cash impacts.
Cash Flow From Operating Activities
Operating cash flow steadily increased from 8,640 million in 2020 to 22,293 million in 2024, showing enhanced cash generation capabilities over the period.
Capital Expenditures and Investments
Purchases of property and equipment fluctuated, peaking in 2022 at 13,970 million before declining thereafter. Purchases of spectrum licenses and intangible assets were volatile with a large outflow in 2021 and lower expenditures in other years. Proceeds from sales of tower sites and securitization transactions provided recurring positive cash inflows. Net investing cash outflows declined substantially by 2023 but increased again in 2024.
Acquisitions and Divestitures
Acquisition activity reduced over time, with sizeable outflows in 2020 and 2021 but minimal and irregular amounts in later years. Proceeds from divestitures were limited and mostly concentrated in 2020.
Cash Flow From Investing Activities
Net cash used in investing activities was significantly negative across all years, reflecting continuous capital expenditure and moderate acquisitions despite some asset sales.
Financing Activities
Debt Issuance and Repayment
Issuance of long-term debt decreased sharply from 35,337 million in 2020 to about 8,587 million in 2024. Long-term debt repayments also trended downward. Short-term debt issuance and repayments were significant in 2020 but absent in later years.
Equity Transactions
A large issuance of common stock occurred only in 2020. Repurchases of common stock resumed in 2022 and rose substantially by 2024, indicating active share buyback programs. Dividends were introduced in 2022 and increased significantly by 2024, showing increased returns to shareholders.
Other Financing Cash Flows
Repayments of financing lease obligations grew slowly but steadily, while other miscellaneous cash flows were relatively minor with negative trends.
Overall Financing Cash Flow
The net cash from financing activities turned negative starting in 2022 and remained so in 2023 and 2024, reflecting debt repayments, stock repurchases, and dividend payments exceeding new debt issuances or equity inflows.
Cash and Cash Equivalents
Cash balances rose sharply in 2020 but declined in the following two years. Modest increases occurred in 2023 and 2024, resulting in a moderate cash position at the end of the period.