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.
Based on: 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
- Consolidated Net Income (Loss)
- The consolidated net income shows significant volatility over the periods. It peaked in July 2023 with 8,053 million US dollars and saw negative values in January 2021 and October 2022. There is an observable pattern of sharp fluctuations rather than steady growth or decline, indicating possible business or economic impacts affecting profits irregularly.
- Depreciation and Amortization
- Depreciation and amortization expenses display a gradual upward trend, increasing from 2,714 million US dollars in April 2019 to 3,369 million in April 2025. This steady increase likely reflects ongoing capital asset investments and aging fixed assets.
- Investment Gains and Losses, Net
- The net investment gains and losses fluctuate considerably, with large negative spikes such as -3,835 million in July 2023 and corresponding large gains such as 4,801 million in October 2023. This suggests active investment management with periodic gains and losses impacting results sporadically.
- Other Operating Activities
- Other operating activities have generally trended upward, notably reaching a peak of 1,230 million in January 2024. This category shows variability but overall growth, which may indicate improved operational efficiency or changes in working capital components.
- Working Capital Items (Receivables, Inventories, Accounts Payable, Accrued Liabilities)
- Receivables and inventories show highly volatile values, alternating between positive and negative changes without a clear directional trend. Accounts payable and accrued liabilities similarly display significant fluctuations with alternating increases and decreases, reflecting variability in supplier payments and operating cycle timing. These irregular movements suggest ongoing adjustments in working capital management.
- Net Cash Provided by (Used in) Operating Activities
- Operating cash flow generally remains strong, peaking at 16,712 million in April 2024 despite some periods of decline such as in April 2022. The trends indicate consistent cash generation from core business operations, albeit with fluctuations that align with underlying income volatility.
- Payments for Property and Equipment
- Capital expenditures have generally increased over time, from around 2,200 million in early periods to peaks near 7,000 million in recent periods. This rising investment level indicates a strategic focus on expanding or upgrading fixed assets.
- Proceeds from Disposal of Property and Equipment
- Proceeds from disposals remain relatively modest compared to payments, usually under 200 million per quarter, which suggests limited asset liquidation relative to ongoing investment.
- Net Cash (Used in) Provided by Investing Activities
- Investing activities consistently represent a use of cash, with net outflows increasing over time to as much as 8,718 million in January 2025. The growing cash outflows reflect intensified capital spending and acquisitions activity.
- Debt and Borrowings
- Short-term borrowings fluctuate frequently, including sharp increases and decreases, showing active management of short-term financing. Long-term debt issuance occurs intermittently, with notable inflows in October 2019, April 2021, and April 2023. Repayments generally trend downward but with significant spikes indicating debt reduction efforts. Overall, debt management appears dynamic with periods of both financing and deleveraging.
- Dividends and Share Repurchases
- Dividends paid maintain a relatively consistent payout circa 1,500 million per quarter, slightly increasing in later periods up to 1,880 million, indicating a stable return of cash to shareholders. Share repurchases demonstrate substantial reductions starting from 2,135 million in April 2019 down to much lower or irregular amounts, with a sharp increase again in April 2025. These share buyback trends suggest strategic variability possibly related to market conditions or capital allocation priorities.
- Net Cash Provided by (Used in) Financing Activities
- Financing activities primarily exhibit net cash outflows, often substantial, with exceptions such as positive inflows in April 2020 and April 2022. These patterns reflect active capital structure management involving debt issuance, repayments, dividends, and share repurchases, with a generally conservative cash outflow tendency.
- Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash
- The net change in cash balances shows significant volatility, with both substantial increases and decreases. Large positive shifts occur in April 2020 and January 2021, while notable declines appear in October 2021 and January 2023. This variability corresponds with the fluctuations in operating, investing, and financing cash flows described above.