← Kyndryl Holdings, Inc.

Annual Trend FY 2019 FY 2020 FY 2021 FY 2023 FY 2024 FY 2025 FY 2026
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net income (loss) ($943.0m) ($2.0b) ($2.3b) ($1.4b) ($340.0m) $252.0m $198.0m
Net Income From Continuing Operations — — — ($1.4b) ($340.0m) $252.0m $198.0m
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest — — ($2.0b) ($1.4b) ($340.0m) $252.0m $198.0m
Depreciation of property, equipment and capitalized software $1.5b $1.4b $1.3b $900.0m $834.0m $660.0m $762.0m
Depreciation of right-of-use assets $429.0m $424.0m $327.0m $428.0m $319.0m $327.0m $289.0m
Amortization of transition costs and prepaid software $1.3b $1.4b $1.3b $1.2b $1.3b $1.3b $1.2b
Amortization of capitalized contract costs $803.0m $683.0m $563.0m $472.0m $531.0m $420.0m $458.0m
Amortization of acquisition-related intangible assets $29.0m $29.0m $37.0m $46.0m $30.0m $30.0m $27.0m
Right-of-use assets and liabilities (excluding depreciation) ($418.0m) ($372.0m) ($374.0m) ($361.0m) ($335.0m) ($314.0m) ($330.0m)
Deferred transition costs and prepaid software (excluding amortization) ($1.8b) ($1.9b) ($1.6b) ($1.6b) ($1.6b) ($1.8b) ($2.2b)
Capitalized contract costs (excluding amortization) $803.0m $683.0m $563.0m $472.0m ($415.0m) ($425.0m) ($444.0m)
Amortization Cash Flow — — — $46.0m $30.0m $30.0m $27.0m
Amortization Of Intangibles — — — $46.0m $30.0m $30.0m $27.0m
Depreciation — — $1.4b $1.3b $1.2b $987.0m $1.1b
Depreciation Amortization Depletion — — — $1.4b $1.2b $1.0b $1.1b
Amortization — — $1.4b $1.2b $1.3b $1.3b $1.3b
Amortization of Intangible Assets — — $29.0m $46.0m $30.0m $30.0m $27.0m
Deferred taxes ($33.0m) ($52.0m) ($401.0m) $285.0m ($13.0m) ($1.0m) ($24.0m)
Deferred Income Tax — — — $285.0m ($13.0m) ($1.0m) ($24.0m)
Deferred Tax — — — $285.0m ($13.0m) ($1.0m) ($24.0m)
Deferred Income Tax Expense (Benefit) — — ($52.0m) $285.0m ($13.0m) ($1.0m) ($24.0m)
Asset Impairment Charge — — $469.0m $0 $0 — —
Share-based Payment Arrangement, Noncash Expense — — $64.0m $113.0m $95.0m $100.0m $64.0m
Payment, Tax Withholding, Share-based Payment Arrangement — — — $19.0m $22.0m $45.0m $94.0m
Share-based Payment Arrangement, Expense — — $64.0m $113.0m $95.0m $100.0m $64.0m
Goodwill, Impairment Loss — — — $0 $0 $0 $0
Impairment of Intangible Assets, Finite-lived — — $0 $0 $0 $0 —
Income Tax Expense (Benefit) — — $246.0m $524.0m $172.0m $184.0m $215.0m
Changes in operating assets and liabilities:
Noncash investing and financing activities:
Additional Financial Items
Stock-based compensation $51.0m $64.0m $71.0m $113.0m $95.0m $100.0m $64.0m
Net (gain) loss on asset sales and other $1.0m $4.0m $11.0m $6.0m $43.0m ($152.0m) $115.0m
Workforce rebalancing liabilities $27.0m $560.0m ($341.0m) $41.0m ($38.0m) ($25.0m) ($19.0m)
Current accounts receivables $23.0m $387.0m ($1.1b) $664.0m $11.0m $289.0m $84.0m
Lease and other receivables — — — — $116.0m $5.0m ($212.0m)
Accounts payable $33.0m $70.0m $125.0m $282.0m ($305.0m) ($89.0m) ($93.0m)
Taxes $397.0m $297.0m $989.0m $90.0m ($2.0m) ($1.0m) $107.0m
Other assets and other liabilities ($238.0m) ($360.0m) $842.0m ($415.0m) ($63.0m) ($71.0m) $916.0m
Proceeds from disposition of property and equipment $63.0m $84.0m $194.0m $23.0m $138.0m $83.0m $65.0m
Proceeds from borrowings under the revolving credit facility — — — — — — $1.0b
Cash Flow From Continuing Operating Activities $1.1b $628.0m ($119.0m) $784.0m $454.0m $940.0m $948.0m
Beginning Cash Position — — — $2.2b $1.9b $1.6b $1.8b
Cash Flow From Continuing Financing Activities — — — ($141.0m) ($170.0m) ($286.0m) $457.0m
Cash Flow From Continuing Investing Activities — — — ($835.0m) ($553.0m) ($403.0m) ($561.0m)
Change In Account Payable — — — $282.0m ($305.0m) ($89.0m) ($93.0m)
Change In Other Current Liabilities — — — $41.0m ($38.0m) ($25.0m) ($19.0m)
Change In Other Working Capital — — — ($2.3b) ($1.6b) ($1.7b) ($1.5b)
Change In Payable — — — $282.0m ($305.0m) ($89.0m) ($93.0m)
Change In Payables And Accrued Expense — — — $282.0m ($305.0m) ($89.0m) ($93.0m)
Change In Receivables — — — $664.0m $11.0m $289.0m ($128.0m)
Change In Working Capital — — — ($1.3b) ($1.9b) ($1.5b) ($1.7b)
Changes In Account Receivables — — — $664.0m ($105.0m) $284.0m $84.0m
Changes In Cash — — — ($194.0m) ($269.0m) $251.0m $846.0m
End Cash Position — — — $1.9b $1.6b $1.8b $2.6b
Financing Cash Flow — — — ($141.0m) ($170.0m) ($286.0m) $457.0m
Free Cash Flow — — — ($84.0m) ($197.0m) $337.0m $340.0m
Investing Cash Flow — — — ($835.0m) ($553.0m) ($404.0m) ($561.0m)
Net Business Purchase And Sale — — — $0 $0 $139.0m $1.0m
Net PPE Purchase And Sale — — — $23.0m $138.0m $83.0m $65.0m
Operating Gains Losses — — — $6.0m $43.0m ($152.0m) $115.0m
Other Non Cash Items — — — $1.7b $1.4b $1.3b $1.3b
Repurchase Of Capital Stock — — — ($19.0m) ($22.0m) ($138.0m) ($398.0m)
Sale Of PPE — — — $23.0m $138.0m $83.0m $65.0m
Increase (Decrease) in Accounts Receivable — — ($387.0m) ($664.0m) ($11.0m) ($289.0m) ($84.0m)
Increase (Decrease) in Accounts Payable — — $70.0m $282.0m ($305.0m) ($89.0m) ($93.0m)
Purchases of property and equipment, accrued but unpaid — — $1.0b — — — —
Foreign Currency Transaction Gain (Loss), before Tax — — — — — — ($37.0m)
Goodwill — — $1.2b $812.0m $805.0m $790.0m $786.0m
Net cash provided by operating activities $1.1b $628.0m ($119.0m) $781.0m $454.0m $942.0m $948.0m
Net Cash Provided by (Used in) Operating Activities $1.1b $628.0m $628.0m $781.0m $454.0m $942.0m $948.0m
Cash flows from investing activities:
Capital expenditures — ($1.0b) ($752.0m) ($865.0m) ($651.0m) ($605.0m) ($608.0m)
Capital Expenditure Reported — — $752.0m ($865.0m) ($651.0m) ($605.0m) ($608.0m)
Payments to Acquire Property, Plant, and Equipment — ($1.0b) $1.0b ($865.0m) ($651.0m) ($605.0m) ($608.0m)
Acquisitions and divestitures, net of cash acquired — — — — — $139.0m $1.0m
Other investing activities, net ($2.0m) ($1.0m) ($14.0m) $7.0m ($40.0m) ($20.0m) ($19.0m)
Net Other Investing Changes — — — $7.0m ($40.0m) ($21.0m) ($19.0m)
Payments for (Proceeds from) Other Investing Activities — — $1.0m ($7.0m) $40.0m $20.0m $19.0m
Net cash used in investing activities ($1.1b) ($953.0m) ($572.0m) ($835.0m) ($553.0m) ($404.0m) ($561.0m)
Net Cash Provided by (Used in) Investing Activities ($1.1b) ($953.0m) ($953.0m) ($835.0m) ($553.0m) ($404.0m) ($561.0m)
Cash flows from financing activities:
Proceeds from issuance of debt, net of debt issuance costs — — $3.0b — $494.0m — —
Issuance Of Debt — — — $0 $494.0m $0 $1.0b
Long Term Debt Issuance — — — $0 $494.0m $0 $1.0b
Net Issuance Payments Of Debt — — — ($118.0m) ($150.0m) ($148.0m) $854.0m
Net Long Term Debt Issuance — — — ($118.0m) ($150.0m) ($148.0m) $854.0m
Debt repayments ($18.0m) ($66.0m) ($91.0m) ($118.0m) ($644.0m) ($148.0m) ($146.0m)
Long Term Debt Payments — — — ($118.0m) ($644.0m) ($148.0m) ($146.0m)
Repayment Of Debt — — — ($118.0m) ($644.0m) ($148.0m) ($146.0m)
Net Common Stock Issuance — — — ($19.0m) ($22.0m) ($138.0m) ($398.0m)
Common stock repurchases — — — — — ($93.0m) ($304.0m)
Common stock repurchases for tax withholdings — — ($1.0m) ($19.0m) ($22.0m) ($45.0m) ($94.0m)
Common Stock Payments — — — ($19.0m) ($22.0m) ($138.0m) ($398.0m)
Payments for Repurchase of Common Stock — — — — — $93.0m $304.0m
Other financing activities, net — — — ($4.0m) $2.0m — $1.0m
Net Other Financing Charges — — ($31.0m) ($4.0m) $2.0m — $1.0m
Proceeds from (Payments for) Other Financing Activities — — — ($4.0m) $2.0m — $1.0m
Net cash provided by (used in) financing activities $0 $312.0m $2.9b ($141.0m) ($170.0m) ($286.0m) $457.0m
Net Cash Provided by (Used in) Financing Activities $0 $312.0m $312.0m ($141.0m) ($170.0m) ($286.0m) $457.0m
Effect of exchange rate changes on cash, cash equivalents and restricted cash ($1.0m) $1.0m ($22.0m) ($100.0m) ($37.0m) ($16.0m) ($9.0m)
Effect Of Exchange Rate Changes — — — ($100.0m) ($37.0m) ($16.0m) ($9.0m)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — $1.0m ($100.0m) ($37.0m) ($16.0m) ($9.0m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — ($13.0m) ($294.0m) ($306.0m) $235.0m $836.0m
Net change in cash, cash equivalents and restricted cash $5.0m ($13.0m) $2.2b ($294.0m) ($306.0m) $235.0m $836.0m
Cash, cash equivalents and restricted cash at beginning of period $50.0m $38.0m $2.2b $1.9b $1.6b $1.8b $2.6b
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — $38.0m $1.9b $1.6b $1.8b $2.6b
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — — — ($294.0m) ($306.0m) $235.0m $836.0m
Interest paid on debt — — $2.0m $98.0m $118.0m $119.0m $115.0m
Interest Paid, Excluding Capitalized Interest, Operating Activities — — $2.0m $98.0m $118.0m $119.0m $115.0m
Income taxes paid, net of refunds received — — $12.0m $167.0m $191.0m $149.0m $151.0m
Income Taxes Paid, Net — — $12.0m $167.0m $191.0m $149.0m $151.0m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

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