Stock Analysis on Net
Stock Analysis on Net

Air Products & Chemicals Inc. (NYSE:APD)

Cash Flow Statement
Quarterly Data

Beginner level

The cash flow statement provides information about a company’s 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’s 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.

Air Products & Chemicals Inc., consolidated cash flow statement (quarterly data)

US$ in thousands

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3 months ended: Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013
Net income (loss) 457,100  490,400  488,900  518,700  500,200  433,500  357,000  459,700  487,900  423,600  161,700  475,000  104,100  2,135,700  306,400  400,900  354,100  (465,500) 372,000  350,000  333,200  296,900  337,500  79,000  323,500  291,500  299,100 
Net income attributable to noncontrolling interests (10,600) (12,600) (13,300) (15,500) (12,200) (12,200) (9,500) (6,800) (14,000) (7,200) (7,100) (6,300) (2,200) (5,700) (6,600) (6,900) (7,300) (7,800) (8,400) (5,500) (14,400) (6,900) (12,900) 25,000  (9,500) (8,000) (8,900)
Net income (loss) attributable to Air Products 446,500  477,800  475,600  503,200  488,000  421,300  347,500  452,900  473,900  416,400  154,600  468,700  101,900  2,130,000  299,800  394,000  346,800  (473,300) 363,600  344,500  318,800  290,000  324,600  104,000  314,000  283,500  290,200 
(Income) loss from discontinued operations —  14,300  —  —  —  —  —  —  (43,200) —  1,000  5,500  2,300  (1,825,600) (48,200) 8,000  8,900  867,300  —  —  —  —  —  (1,500) —  —  (3,100)
Income from continuing operations attributable to Air Products 446,500  492,100  475,600  503,200  488,000  421,300  347,500  452,900  430,700  416,400  155,600  474,200  104,200  304,400  251,600  402,000  355,700  394,000  363,600  344,500  318,800  290,000  324,600  102,500  314,000  283,500  287,100 
Depreciation and amortization 290,600  294,700  289,200  293,600  269,100  262,100  258,000  257,200  245,600  240,000  227,900  231,000  216,900  211,800  206,100  230,500  230,600  232,100  232,700  234,600  233,000  233,300  235,500  254,600  239,000  229,100  234,200 
Deferred income taxes 105,000  30,600  24,400  19,800  10,300  28,500  (1,000) 31,500  7,500  (17,700) (76,700) 40,100  (9,500) (45,000) (23,600) (17,500) (6,600) 44,100  42,900  (15,600) (35,000) 27,300  26,200  55,700  33,400  3,400  33,000 
Loss on extinguishment of debt —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  6,900  —  —  —  16,600  —  —  —  —  —  —  — 
Tax reform repatriation —  —  —  —  3,200  —  46,200  (69,700) —  —  310,300  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Facility closure —  —  —  —  —  —  29,000  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Gain on previously held equity interest —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  (17,900) —  —  —  — 
Undistributed (earnings) losses of unconsolidated affiliates (9,400) (75,400) (26,200) (18,900) (29,700) (28,200) 1,000  (24,600) (30,800) (30,900) 34,000  (25,700) (2,900) (24,600) (6,900) (16,900) (27,200) (14,700) 7,000  (28,000) (16,600) (26,700) (31,300) (39,300) (17,500) (19,200) — 
(Gain) loss on sale of assets and investments 3,600  (39,400) (1,100) (6,700) (15,200) (1,600) (700) (1,700) (2,800) (1,800) (600) (16,400) (1,400) (1,500) (5,000) (10,000) —  —  —  (30,100) —  —  —  4,300  —  —  — 
Share-based compensation 12,500  13,000  13,900  10,200  9,800  11,900  9,300  8,400  7,900  10,700  11,800  12,500  8,900  9,500  9,000  9,000  9,100  9,300  10,200  8,400  12,500  12,900  11,900  11,500  9,100  11,600  11,800 
Noncurrent lease receivables 22,000  23,600  23,500  22,900  24,100  22,800  24,800  23,700  26,500  23,900  23,300  22,800  24,000  23,100  22,300  24,000  21,300  27,700  12,500  (5,600) 4,800  (600) (8,100) 8,200  10,700  11,100  (10,000)
Goodwill and intangible asset impairment charge —  —  —  —  —  —  —  —  —  —  —  —  162,100  —  —  —  —  —  —  —  —  —  —  310,100  —  —  — 
Equity method investment impairment charge —  —  —  —  —  —  —  —  —  —  —  —  79,500  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Write-down of long-lived assets associated with cost reduction actions —  —  —  —  —  —  —  —  —  —  —  10,100  13,400  —  45,700  —  —  —  —  19,600  27,800  —  —  —  —  —  — 
Other adjustments 53,600  23,200  30,800  (18,700) 2,800  (16,200) 12,700  154,800  (67,900) 39,400  5,300  54,700  76,700  23,300  10,700  71,600  68,600  57,000  (42,000) 115,100  (4,300) 1,900  (60,500) (41,800) 27,800  60,800  14,200 
Trade receivables 5,700  (112,800) 900  70,500  (84,100) 18,200  (73,600) 7,700  (20,300) 4,000  (34,200) (47,900) 28,100  (96,100) 42,300  126,700  (221,600) (63,900) 97,100  (4,100) (49,200) 1,300  22,300  74,400  4,900  (64,300) (17,700)
Inventories (8,800) (8,100) (8,400) 10,500  700  (3,800) (10,400) (80,200) 10,500  13,900  (8,400) (38,400) 24,100  10,800  9,900  (6,900) 29,300  24,500  (14,000) 5,900  16,400  2,000  (16,000) (36,100) (21,000) 21,700  11,900 
Other receivables (22,500) (2,100) 1,400  9,200  21,000  39,300  10,300  42,800  74,500  (12,800) 23,800  44,000  (52,000) 143,200  (29,800) 90,600  11,200  (49,000) (43,700) 138,100  40,000  (70,900) (20,500) (34,200) (18,100) (17,800) 31,700 
Payables and accrued liabilities (72,900) 3,600  (115,400) 53,000  30,700  (70,100) (55,400) (112,800) 95,500  (146,900) (113,500) 263,700  78,700  (189,000) 10,400  24,400  259,100  (113,100) (113,400) (21,100) 107,100  66,800  5,000  (109,200) 4,400  (64,800) (65,200)
Other working capital (51,200) (71,500) (41,600) 17,900  (13,100) (53,600) 57,500  1,400  (23,700) 7,800  5,500  (104,000) 1,400  (83,000) 31,600  (61,300) 17,300  (34,000) 20,600  1,600  35,400  (56,700) 15,400  41,700  (27,400) 23,400  15,200 
Working capital changes that provided (used) cash, excluding effects of acquisitions (149,700) (190,900) (163,100) 161,100  (44,800) (70,000) (71,600) (141,100) 136,500  (134,000) (126,800) 117,400  80,300  (214,100) 64,400  173,500  95,300  (235,500) (53,400) 120,400  149,700  (57,500) 6,200  (63,400) (57,200) (101,800) (24,100)
Adjustments to reconcile income (loss) to cash provided by operating activities 328,200  79,400  191,400  463,300  229,600  209,300  307,700  238,500  322,500  129,600  408,500  446,500  648,000  (17,500) 322,700  471,100  391,100  120,000  209,900  435,400  371,900  190,600  162,000  499,900  245,300  195,000  259,100 
Cash provided by operating activities 774,700  571,500  667,000  966,500  717,600  630,600  655,200  691,400  753,200  546,000  564,100  920,700  752,200  286,900  574,300  873,100  746,800  514,000  573,500  779,900  690,700  480,600  486,600  602,400  559,300  478,500  546,200 
Additions to plant and equipment, including long-term deposits (1,114,600) (482,900) (447,700) (482,100) (544,100) (560,100) (403,400) (410,300) (585,600) (315,900) (256,600) (232,900) (274,600) (293,000) (239,200) (258,500) (262,500) (184,200) (350,600) (400,100) (397,100) (371,100) (446,500) (419,300) (462,700) (411,100) (391,100)
Acquisitions, less cash acquired —  —  —  (16,200) (700) (106,300) —  (25,200) (48,800) (34,300) (237,100) (8,200) —  —  —  —  —  —  —  —  —  (11,900) (22,600) —  —  —  — 
Investment in and advances to unconsolidated affiliates (1,700) (15,600) (7,100) —  (14,300) (1,400) —  —  —  —  —  —  800  (100) (8,800) —  —  —  —  —  (4,300) —  —  (300) 2,300  —  — 
Proceeds from sale of assets and investments 6,300  52,800  15,200  2,300  5,000  2,700  1,100  3,000  11,400  23,800  10,600  21,800  7,200  2,100  11,400  8,900  6,000  23,400  47,200  40,200  4,300  7,100  3,700  11,600  22,800  5,700  5,500 
Purchases of investments (2,515,500) —  —  (166,800) —  —  (5,300) (180,500) (4,100) (133,500) (212,200) (204,000) (665,400) (1,823,200) —  —  —  —  —  —  —  —  —  —  —  —  — 
Proceeds from investments —  —  177,000  —  2,600  9,900  178,000  3,000  132,300  404,000  208,900  817,200  1,073,500  400,000  —  —  —  —  —  —  —  —  —  —  —  —  — 
Other investing activities 1,000  —  1,900  (15,100) (1,900) (400) 3,100  (200) 800  (4,100) 1,500  (800) 100  (100) (1,500) —  800  (4,500) 2,000  (800) (2,100) (700) 2,200  100  (1,100) (400) — 
Cash used for investing activities (3,624,500) (445,700) (260,700) (677,900) (553,400) (655,600) (226,500) (610,200) (494,000) (60,000) (484,900) 393,100  141,600  (1,714,300) (238,100) (249,600) (255,700) (165,300) (301,400) (360,700) (399,200) (376,600) (463,200) (407,900) (438,700) (405,800) (385,600)
Long-term debt proceeds 4,895,700  —  —  —  —  —  —  —  —  500  —  200  900  100  1,200  561,800  386,900  —  —  800  700  336,400  900  403,700  18,100  37,800  1,400 
Payments on long-term debt —  (600) (2,800) (423,200) (2,700) (100) (2,600) (500) (9,000) (600) (408,600) (400) (13,800) (455,300) (14,400) (358,700) (56,100) (4,700) (65,500) (149,500) (174,600) (346,100) (38,500) (16,900) (100,500) (57,200) (434,000)
Net increase (decrease) in commercial paper and short-term borrowings (14,700) (22,900) (10,400) (33,800) 44,300  31,400  (38,000) (32,400) (23,700) 18,300  (40,700) 600  17,400  (44,400) (772,200) 290,600  (435,000) (45,300) 45,500  162,000  67,700  300  54,000  (274,000) 51,800  31,800  339,100 
Dividends paid to shareholders (295,900) (256,000) (255,700) (255,600) (255,300) (241,600) (241,500) (241,200) (241,100) (208,000) (207,500) (207,000) (206,900) (187,100) (186,900) (186,300) (185,800) (174,700) (174,400) (174,100) (174,000) (165,000) (164,400) (164,000) (163,500) (150,300) (149,900)
Proceeds from stock option exercises 3,000  14,700  5,500  4,800  17,900  40,700  4,700  18,000  5,500  18,300  34,400  30,200  18,300  9,200  10,700  65,100  40,700  25,200  10,300  28,800  15,300  35,100  42,100  35,100  48,800  37,800  19,900 
Excess tax benefit from share-based compensation —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  16,700  6,800  4,800  4,900  5,200  4,000  9,300  13,400  5,800  9,900  8,500  4,100 
Payment for subsidiary shares to noncontrolling interests —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  (278,400) —  —  —  —  (500) —  — 
Other financing activities (44,800) (2,700) (6,900) (1,900) (5,200) (400) (12,400) (5,900) (13,900) (3,000) (18,700) (10,100) (8,500) (9,800) (12,900) (9,500) (9,400) (6,200) (18,800) (11,500) (11,200) (14,700) (19,400) (11,300) (9,100) (7,900) (18,800)
Cash provided by (used for) financing activities 4,543,300  (267,500) (270,300) (709,700) (201,000) (170,000) (289,800) (262,000) (282,200) (174,500) (641,100) (186,500) (192,600) (687,300) (974,500) 379,700  (251,900) (200,900) (198,000) (416,700) (272,100) (144,700) (111,900) (21,600) (145,000) (99,500) (238,200)
Cash provided by (used for) operating activities —  —  —  —  —  —  —  —  (9,700) —  (3,100) (198,200) (247,200) (461,200) (59,600) (20,500) (34,300) (25,100) —  —  —  —  —  —  —  —  700 
Cash (used for) provided by investing activities —  —  —  —  —  —  —  —  —  18,600  —  —  —  3,770,000  (19,400) —  —  (97,000) —  —  —  —  —  —  —  —  9,800 
Cash provided by (used for) financing activities —  —  —  —  —  —  —  —  —  —  —  —  —  —  69,500  —  —  —  —  —  —  —  —  (157,100) —  —  — 
Cash provided by (used for) discontinued operations —  —  —  —  —  —  —  —  (9,700) 18,600  (3,100) (198,200) (247,200) 3,308,800  (9,500) (20,500) (34,300) (122,100) —  —  —  —  —  (157,100) —  —  10,500 
Effect of exchange rate changes on cash 7,800  (44,300) 21,400  (27,000) (2,300) 7,600  (6,900) (14,400) (47,700) 14,200  14,000  11,900  9,300  8,400  (16,200) 3,800  (3,200) 8,300  (1,400) (11,400) 200  (2,400) (9,300) (16,800) 5,100  (3,900) 4,300 
Increase (decrease) in cash and cash items 1,701,300  (186,000) 157,400  (448,100) (39,100) (187,400) 132,000  (195,200) (80,400) 344,300  (551,000) 941,000  463,300  1,202,500  (664,000) 986,500  201,700  34,000  72,700  (8,900) 19,600  (43,100) (97,800) (1,000) (19,300) (30,700) (62,800)

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30), 10-K (filing date: 2014-11-24), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-24), 10-Q (filing date: 2014-01-29).

Cash flow statement item Description The company
Cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Air Products & Chemicals Inc.’s cash provided by operating activities decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Cash used for investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Air Products & Chemicals Inc.’s cash used for investing activities decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Cash provided by (used for) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Air Products & Chemicals Inc.’s cash provided by (used for) financing activities increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.