← APi Group Corp

	FY 2018	FY 2019	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Net income	$136.0m	($153.0m)	($153.0m)	$47.0m	$73.0m	$153.0m	$250.0m	$302.0m
Depreciation	$60.0m	$18.0m	$81.0m	$75.0m	$77.0m	$79.0m	$80.0m	$85.0m
Amortization	$49.0m	$51.0m	$182.0m	$127.0m	$227.0m	$224.0m	$222.0m	$242.0m
Deferred taxes	—	($2.0m)	($74.0m)	$6.0m	($47.0m)	($32.0m)	($30.0m)	$15.0m
Share-based compensation expense	$3.0m	$156.0m	$5.0m	$12.0m	$18.0m	$29.0m	$32.0m	$44.0m
Restructuring charges, net of cash paid	—	—	—	$0	$22.0m	$9.0m	($16.0m)	($6.0m)
Profit-sharing expense	—	$5.0m	$14.0m	$15.0m	$15.0m	$19.0m	$27.0m	$36.0m
Non-cash lease expense	—	$6.0m	$30.0m	$31.0m	$67.0m	$88.0m	$97.0m	$110.0m
Net periodic pension cost (benefit)	—	—	—	$0	($35.0m)	($8.0m)	$27.0m	$23.0m
Other, net	($1.0m)	($2.0m)	—	$7.0m	$3.0m	$0	($23.0m)	($9.0m)
Accounts receivable	($119.0m)	$41.0m	$120.0m	($99.0m)	($148.0m)	($69.0m)	($2.0m)	($57.0m)
Contract assets	($54.0m)	$105.0m	$118.0m	($73.0m)	($69.0m)	$26.0m	($9.0m)	($17.0m)
Inventories	($9.0m)	—	$11.0m	($2.0m)	($30.0m)	$13.0m	$9.0m	$6.0m
Prepaid expenses and other current assets	$10.0m	$83.0m	($2.0m)	$4.0m	($1.0m)	($14.0m)	$6.0m	$1.0m
Accounts payable	$1.0m	($32.0m)	($24.0m)	$78.0m	$71.0m	($14.0m)	$16.0m	$5.0m
Accrued liabilities and income taxes payable	$14.0m	($108.0m)	$12.0m	$15.0m	$47.0m	$42.0m	($3.0m)	$45.0m
Contract liabilities	$9.0m	($14.0m)	$17.0m	$19.0m	$71.0m	$51.0m	$46.0m	$85.0m
Other assets and liabilities	—	$1.0m	($24.0m)	($89.0m)	($52.0m)	($85.0m)	($104.0m)	($151.0m)
Acquisitions, net of cash acquired	($234.0m)	($2.6b)	($319.0m)	($86.0m)	($2.8b)	($83.0m)	($778.0m)	($186.0m)
Purchases of property and equipment	($74.0m)	($11.0m)	($38.0m)	($55.0m)	($79.0m)	($86.0m)	($84.0m)	($96.0m)
Proceeds from sales of property, equipment, held for sale assets, and businesses	$5.0m	$5.0m	$17.0m	$20.0m	$17.0m	$54.0m	$33.0m	$28.0m
Proceeds from long-term borrowings	—	$1.2b	$250.0m	$650.0m	$1.1b	$0	$850.0m	$0
Payments on long-term borrowings	($12.0m)	—	($21.0m)	($321.0m)	($34.0m)	($484.0m)	($437.0m)	($7.0m)
Proceeds from the issuance of common shares	—	—	—	—	$797.0m	$0	$458.0m	$0
Conversion of Series B Preferred Stock	—	—	—	—	$0	$0	($600.0m)	$0
Payments of acquisition-related consideration	($25.0m)	($2.0m)	($93.0m)	($74.0m)	($5.0m)	($4.0m)	($8.0m)	($18.0m)
Restricted shares tendered for taxes	—	—	($2.0m)	($3.0m)	($3.0m)	($3.0m)	($13.0m)	($21.0m)
Accrued consideration	—	—	$5.0m	$18.0m	$1.0m	$11.0m	$31.0m	$30.0m
Net cash provided by operating activities	$112.0m	$150.0m	$496.0m	$182.0m	$270.0m	$514.0m	$620.0m	$759.0m
Net cash used in investing activities	($300.0m)	($1.7b)	($340.0m)	($121.0m)	($2.9b)	($115.0m)	($829.0m)	($254.0m)
Shares of common stock issued to profit sharing plan	—	—	—	$13.0m	$13.0m	$14.0m	$18.0m	$24.0m
Shares of common stock issued for conversion of Series B Preferred Stock	—	—	—	$13.0m	$13.0m	$14.0m	$569.0m	$0
Repurchases of common stock	—	—	($30.0m)	$0	($44.0m)	($41.0m)	$0	($75.0m)
Other financing activities	—	—	—	—	$0	$0	($5.0m)	$0
Net cash (used in) provided by financing activities	$203.0m	$1.4b	$99.0m	$917.0m	$1.8b	($532.0m)	$245.0m	($121.0m)
Effect of foreign currency exchange rate change on cash, cash equivalents, and restricted cash	—	—	$4.0m	($2.0m)	($9.0m)	$6.0m	($15.0m)	$28.0m
Net increase (decrease) in cash, cash equivalents, and restricted cash	$13.0m	($181.0m)	$259.0m	$976.0m	($884.0m)	($127.0m)	$21.0m	$412.0m
Cash, cash equivalents, and restricted cash, beginning of period	—	$256.0m	$515.0m	$1.5b	$607.0m	$480.0m	$501.0m	$913.0m
Cash paid for interest, net of interest income	$24.0m	$14.0m	$47.0m	$41.0m	$120.0m	$150.0m	$152.0m	$136.0m
Cash paid for income taxes, net of refunds	$9.0m	$3.0m	$29.0m	$66.0m	$43.0m	$95.0m	$101.0m	$111.0m

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.