Stock Analysis on Net

Procter & Gamble Co. (NYSE:PG)

$24.99

Cash Flow Statement
Quarterly Data

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.

Paying user area

The data is hidden behind: . Unhide it.

This is a one-time payment. There is no automatic renewal.


We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Procter & Gamble Co., consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018
Net earnings
Depreciation and amortization
Loss on early extinguishment of debt
Share-based compensation expense
Deferred income taxes
(Gain) loss on sale of assets
Indefinite-lived intangible asset impairment charge
Change in accounts receivable
Change in inventories
Change in accounts payable and accrued and other liabilities
Change in other operating assets and liabilities
Change in operating assets and liabilities
Other
Operating activities
Capital expenditures
Proceeds from asset sales
Acquisitions, net of cash acquired
Other investing activity
Investing activities
Dividends to shareholders
Additions to short-term debt with original maturities of more than three months
Reductions in short-term debt with original maturities of more than three months
Net additions (reductions) in other short-term debt
Increases (reductions) in short-term debt (legacy)
Additions to long-term debt
Reductions in long-term debt
Treasury stock purchases
Impact of stock options and other
Financing activities
Effect of exchange rate changes on cash, cash equivalents and restricted cash
Change in cash, cash equivalents and restricted cash

Based on: 10-Q (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30).


Net earnings
Net earnings exhibit significant fluctuations across the periods. A notable loss occurred in June 30, 2019, marking a sharp deviation with a -$5,237 million figure, contrasting with generally positive earnings in other quarters. Subsequent periods show recovery and growth, with peaks in September 30, 2020, December 31, 2021, and December 31, 2024. The trend indicates cyclical variability with no consistent growth or decline pattern, but overall positive earnings resume after the 2019 dip.
Depreciation and amortization
The depreciation and amortization expense remains relatively steady throughout the periods, generally ranging from $650 million to $820 million. Slight increases are observed during 2019 and 2020, followed by a mild downward adjustment toward 2024 and 2025, indicating relatively stable fixed asset usage and amortization schedule.
Loss on early extinguishment of debt
This item appears only once in December 31, 2020, recording a $512 million loss. It suggests a one-time financial impact related to debt restructuring or refinancing occurring in that quarter.
Share-based compensation expense
Share-based compensation shows variability with spikes in June quarters of 2019 and 2020, reaching up to $233 million. Lesser values are noted at other times, without a clear pattern. This indicates fluctuating stock-based payments, possibly linked to periodic grants or vesting schedules.
Deferred income taxes
The deferred income taxes fluctuate substantially with both positive and negative values, signifying changing tax positions or timing differences in tax recognition. Large negative swings occur in March 31, 2019 and beyond, suggesting tax obligations varying due to temporary differences in accounting versus tax reporting.
(Gain) loss on sale of assets
Occasional gains and losses are recorded, with substantial gain of -$361 million at September 30, 2018, and a notable unusual gain of $794 million in September 30, 2024. The gains and losses are sporadic, indicating ad hoc asset disposal activities with variable financial impact.
Indefinite-lived intangible asset impairment charge
This item appears only twice: in June 30, 2019 with a large charge of $8,345 million, and in March 31, 2024 with $1,341 million. These significant impairments suggest periodic reassessment and write-downs of indefinite-lived intangible assets, drastically impacting net earnings in these periods.
Changes in working capital components

Changes in accounts receivable, inventories, and accounts payable/accrued liabilities vary widely. Notable negative swings in accounts receivable and inventories, particularly in September 30, 2021 and September 30, 2022, indicate increased sales or inventory reductions. Accounts payable and accrued liabilities also show substantial fluctuations with large positive movements in quarters like September 30, 2019 and September 30, 2022, reflecting supplier payment timing variability.

Overall, the combined change in operating assets and liabilities shows a volatile pattern, with some quarters exhibiting significant inflows (e.g., June 30, 2023) and others showing outflows (e.g., December 31, 2022), suggesting active working capital management adapting to operational requirements.

Operating activities cash flow
Cash flows from operating activities generally increase over time, peaking in June 30, 2023 and December 31, 2024, with values above $5 billion. Some volatility exists, but the trend is predominantly positive, reflecting strong operational cash generation capacity despite earnings variability.
Capital expenditures
Capital expenditure patterns indicate moderately stable quarterly outlays around $600-$900 million, with occasional spikes near $1 billion. The data shows active investment in fixed assets with some fluctuations but no clear long-term increasing or decreasing trend.
Proceeds from asset sales
Proceeds remain low and irregular, generally under $100 million per quarter, with a notable spike at December 31, 2024 ($269 million). This indicates occasional asset divestitures but no major consistent source of cash.
Acquisitions, net of cash acquired
Acquisition activity is intermittent with minor amounts and occasional large negative values (notably -$3,611 million in December 31, 2018). After 2020, acquisition outflows reduce considerably, signaling a decrease in acquisition spending.
Other investing activities
Other investing activities present irregular and sometimes large cash inflows, such as $6,152 million in September 30, 2019, suggesting exceptional investing receipts or adjustments in some periods. Subsequent quarters show more moderate fluctuations.
Investing activities cash flow
Overall investing cash flows are highly variable, with significant inflows in March 31, 2019 and September 30, 2019 versus large outflows in other quarters. The pattern reflects variable capital expenditure, acquisitions, and asset sales activity with no steady trend.
Dividends to shareholders
Dividend payments demonstrate a consistent upward trajectory from approximately $1.85 billion to over $2.4 billion per quarter over the examined period, indicating steady increases in shareholder returns.
Debt activities

Short-term debt additions and reductions reveal significant debt management movements, with large additions from September 30, 2020 through June 30, 2024 and corresponding offsetting reductions in subsequent quarters. Long-term debt additions and reductions fluctuate with no consistent trend but large issuances occur in late 2019 and mid-2024.

Legacy short-term debt shows substantial volatility with large adjustments primarily before 2020.

Treasury stock purchases
Treasury stock repurchases display an overall declining trend in magnitude after a peak of $4 billion in mid-2022, with sizable buybacks mostly above $1 billion per quarter. This indicates ongoing but fluctuating share repurchase programs.
Impact of stock options and other
This component varies between $88 million and $1 billion, with no clear trend, reflecting irregular impact from stock option exercises and related transactions.
Financing activities cash flow
Cash flows from financing activities are mostly negative, dominated by dividend payments and share repurchases, with sporadic positive inflows from debt issuances. The net trend indicates continued capital return to shareholders funded partially by issued debt and equity adjustments.
Effect of exchange rate changes
Exchange rate impacts show fluctuating positive and negative effects on cash balances, with values generally under $300 million in magnitude, implying moderate currency translation effects on cash flow.
Change in cash, cash equivalents, and restricted cash
Cash and equivalents fluctuate throughout periods with no persistent increasing or decreasing trend. Large positive changes include March 31, 2020 (over $9 billion) and September 30, 2019. Negative changes occur in quarters like December 31, 2018 and December 31, 2019, reflecting diverse operational, investing, and financing activities affecting liquidity.