Stock Analysis on Net

DuPont de Nemours Inc. (NYSE:DD)

$22.49

This company has been moved to the archive! The financial data has not been updated since February 14, 2020.

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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DuPont de Nemours Inc., consolidated cash flow statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net income
Depreciation and amortization
Provision (credit) for deferred income tax and other tax related items
Earnings of nonconsolidated affiliates less than dividends received
Net periodic pension benefit (credit) cost
Pension contributions
Net gain on sales of assets, businesses and investments
Net (gain) loss on step acquisition of nonconsolidated affiliate
Restructuring and asset related charges - net
Goodwill impairment charges
Amortization of merger-related inventory step-up
Asbestos-related charge
Excess tax benefits from share-based payment arrangements
Other net loss
Accounts and notes receivable
Proceeds from interests in trade accounts receivable conduits
Inventories
Accounts payable
Other assets and liabilities, net
Changes in assets and liabilities, net of effects of acquired and divested companies
Adjustments to reconcile net income to net cash provided by operating activities
Cash provided by operating activities
Capital expenditures
Investment in gas field developments
Construction of assets pending sale/leaseback
Proceeds from sale/leaseback of assets
Purchases of previously leased assets
Payment into escrow/trust accounts
Distribution from escrow/trust accounts
Proceeds from sales of property and businesses, net of cash divested
Acquisitions of property and businesses, net of cash acquired
Cash acquired in merger transaction
Cash acquired in step acquisition of nonconsolidated affiliate
Investments in and loans to nonconsolidated affiliates
Distributions and loan repayments from nonconsolidated affiliates
Proceeds from sales of ownership interests in nonconsolidated affiliates
Purchases of investments
Proceeds from sales and maturities of investments
Proceeds from interests in trade accounts receivable conduits
Other investing activities, net
Cash (used for) provided by investing activities
Changes in short-term borrowings
Proceeds from issuance of long-term debt
Payments on long-term debt
Purchases of treasury stock
Proceeds from issuance of Company stock
Proceeds from sale of common stock
Employee taxes paid for share-based payment arrangements
Excess tax benefits from share-based payment arrangements
Distributions to noncontrolling interests
Purchases of noncontrolling interests
Contributions from noncontrolling interests
Dividends paid to stockholders
Cash held by Dow and Corteva at the respective Distributions
Debt extinguishment costs
Other financing activities, net
Cash used for financing activities
Effect of exchange rate changes on cash, cash equivalents and restricted cash
Cash reclassified as held for sale
Increase (decrease) in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period
Cash, cash equivalents and restricted cash at end of period
Restricted cash and cash equivalents, included in "Other current assets"
Cash and cash equivalents at end of year

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).


The financial data over the five-year period reveals notable fluctuations in profitability, cash flows, and capital management activities.

Net Income
Net income shows a declining trend from 2015 to 2019, dropping sharply from $7.8 billion in 2015 to just $600 million in 2019. The lowest point occurred in 2017 with $1.6 billion, followed by a slight recovery in 2018 before plunging again in 2019.
Depreciation and Amortization
This expense increased consistently from 2015, peaking in 2018 at $5.9 billion before dropping mid-2019. The trend suggests growing investments in fixed assets until 2018, followed by a reduction in chargeable amortization or asset base in 2019.
Tax Provisions
The provision for deferred income tax and related items exhibits a negative pattern except for the initial positive amount in 2015, indicating probable deferred tax benefits recognized from 2016 onward.
Nonconsolidated Affiliates
Earnings from these affiliates fluctuate, with a significant increase in 2019 reaching $909 million, potentially reflecting improved performance or accounting changes in investments.
Pension and Related Contributions
Net periodic pension benefit costs appear only from 2017 onward, starting at $1 billion, then sharply declining. Pension contributions show large outflows throughout all years, reaching a peak outflow in 2018 of almost $3 billion, which tapered considerably in 2019.
Gains and Losses on Sales
Net gains on asset sales are mostly negative but less severe after 2015’s large loss of $4.6 billion, indicating normalization of asset disposals. Step acquisition transactions show a similar volatile pattern with large negative amounts early and small gains or nil thereafter.
Restructuring and Asset Charges
These charges rise substantially in 2017, reflecting increased restructuring efforts, followed by a decline but remaining elevated through 2019, consistent with ongoing operational adjustments.
Goodwill Impairments
Reported impairments occur selectively in 2017 and 2019, with substantial charges exceeding $1 billion in both years, signaling periodic reassessments of asset values with material write-downs.
Inventory and Working Capital Changes
Inventories and receivables show volatility, with marked decreases in 2017 and 2018, suggesting inventory reductions or write-offs and tighter receivables management. Accounts payable movements are irregular, including a large negative swing in 2019, which may reflect payment timing variations or supplier negotiations.
Operating Cash Flows
Cash provided by operating activities is highest in 2017 at nearly $8.7 billion but declines sharply after, reaching $1.4 billion in 2019. This corresponds with net income trends and indicates weakening core operating cash generation.
Investing Activities
Capital expenditures remained relatively steady around $3.5 to $3.8 billion annually until 2018 before decreasing to $2.5 billion in 2019. The cash flow from investing activities fluctuates, with a major inflow in 2017 due to large proceeds from sales of property/businesses juxtaposed against significant outflows in other years.
Financing Activities
Financing cash flows are predominantly negative throughout, reflecting repayments of debt, substantial repurchases of treasury stock (notably increasing in 2018), and dividend payments which peak in 2018 and reduce considerably in 2019. Issuance of long-term debt spikes dramatically in 2018, suggesting financing of acquisitions or restructuring initiatives.
Liquidity and Cash Position
Total cash, cash equivalents, and restricted cash shows an overall increase from 2015 through 2018, doubling from about $8.5 billion to $14 billion, before plummeting in 2019 to approximately $1.5 billion. The dramatic decrease in 2019 highlights significant cash outflows possibly related to large distributions or operational challenges.

In summary, the data reflects a company undergoing considerable operational and financial restructuring across the period, with declining profitability and operating cash generation, aggressive asset impairment and restructuring charges, fluctuating capital expenditures and investment activity, and significant debt management changes. The large reduction in liquidity at the end of 2019 suggests exceptional cash demands or distributions impacting financial flexibility.