← UL Solutions Inc.

Annual Trend FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Net income — — — — $309.0m $276.0m $345.0m $345.0m
Net Income From Continuing Operations — — — — $309.0m $276.0m $345.0m $345.0m
Depreciation and amortization — — — — $135.0m $154.0m $172.0m $188.0m
Depreciation (notes 7, 19) — $528k $446k $257k $579k — — —
Amortization (note 8) — $3.0m $4.8m $4.4m $5.5m — — —
Depreciation Amortization Depletion — — — — $135.0m $154.0m $172.0m $188.0m
Deferred income taxes — — — — $10.0m $11.0m ($6.0m) $2.0m
Deferred Income Tax — — — — $10.0m $11.0m ($6.0m) $2.0m
Deferred Tax — — — — $10.0m $11.0m ($6.0m) $2.0m
Goodwill impairment — — — — $0 $37.0m $0 $0
Payment, Tax Withholding, Share-Based Payment Arrangement — — — — — $0 $0 ($15.0m)
Impairment of goodwill and intangible assets — — $2.3m — — — — —
Impairment of property and equipment (note 7) — — — — $15k — — —
Asset Impairment Charge — — — — $0 $37.0m $0 $0
Gains on divestitures — — — — $0 ($2.0m) ($24.0m) $0
Interest expense (note 9) — $1.5m $4.9m $1.3m $1.1m — — —
Loss on extinguishment of debt (note 9) — — — ($114k) $748k — — —
Earnings (Loss)es From Equity Investments — — — ($11.0m) ($2.0m) — — —
Changes in non-cash operating working capital (note 14) — ($836k) ($773k) ($2.0m) $1.4m $467.0m $524.0m $600.0m
Cash provided by (used in) Operating activities
Stock-based compensation — $195k $725k $8.5m $0 $0 $23.0m $47.0m
Charged to Costs and Expenses — — — — — $4.0m $9.0m $11.0m
Losses on foreign exchange transactions — — — — $18.0m $4.0m $11.0m $10.0m
Other, net — — — — $8.0m $11.0m $14.0m $8.0m
Accounts receivable — — — — ($15.0m) $6.0m ($31.0m) ($32.0m)
Contract and other assets — — — — ($12.0m) ($33.0m) $3.0m ($22.0m)
Accounts payable — — — — ($18.0m) $1.0m $13.0m ($13.0m)
Accrued expenses — — — — ($85.0m) ($28.0m) $7.0m $80.0m
Pension and postretirement benefit plans — — — — $19.0m $4.0m ($9.0m) ($35.0m)
Contract and other liabilities — — — — $3.0m $32.0m $0 $11.0m
Acquisitions, net of cash acquired — — — — ($66.0m) ($18.0m) ($26.0m) ($1.0m)
Beginning of period — — — — $322.0m $315.0m $298.0m $295.0m
Cash paid during the period for stock-based compensation — — — — $48.0m $61.0m $19.0m $4.0m
Conversion of stock-based compensation awards to equity (Note 17) — — — — $0 $0 $26.0m $37.0m
Net loss for the year — ($4.5m) ($11.1m) ($19.7m) ($8.7m) — — —
Loss on revaluation of conversion feature liability (note 9) — ($2.3m) $1.3m — — — — —
Taxes — $99k ($944k) $944k ($610k) — — —
(Loss) gain on contingent consideration (note 4) — — ($947k) ($333k) $80k — — —
Gain on revaluation of options, RSUs, and derivative warrant liability (note 10,11) — — — ($2.6m) ($6.3m) — — —
Payment of taxes (note 21) — — — ($114k) — — — —
Other income — $761k ($10k) ($12k) ($1k) — — —
Foreign exchange (gain) loss (note 22) — $217k ($132k) $22k ($452k) — — —
Unrealized foreign exchange (gain) loss — ($108k) $174k $139k $360k — — —
Purchase of property and equipment (note 7) — ($93k) ($202k) ($79k) ($1.2m) $215.0m $237.0m $197.0m
Business acquisitions (note 4) — — ($4.4m) ($9.1m) ($299k) — — —
Earn out payment (note 4) — — ($377k) ($2.6m) ($539k) — — —
Development costs related to internally generated intangible assets (note 8) — ($1.7m) ($1.6m) ($2.4m) ($1.8m) — — —
Cash used in investing activities — ($1.8m) ($6.6m) ($14.4m) ($4.1m) — — —
Issuance of share capital, net of issuance costs (notes 10, 11) $6.5m — $13.7m $16.7m $4.1m — — —
Issuance cost reimbursement — — — $2k — — — —
Proceeds from exercise of stock options (note 11) — $60k $11k $246k — — — —
Proceeds from exercise of warrants (note 11) — $2.2m $1.9m $2.1m — — — —
Repayment of lease obligations (note 20) — ($393k) ($338k) ($151k) ($271k) — — —
Payment of interest on lease obligations (note 20) — ($86k) ($54k) ($35k) ($114k) — — —
Cash provided by (used in) financing activities — $2.1m $18.2m $16.5m ($2.4m) — — —
Cash, beginning of year $1.9m $1.9m $1.7m $16.8m $10.6m — — —
Beginning Cash Position — — — — $1.3b $322.0m $315.0m $298.0m
Cash Flow From Continuing Financing Activities — — — — ($1.1b) ($294.0m) ($284.0m) ($396.0m)
Cash Flow From Continuing Investing Activities — — — — ($238.0m) ($175.0m) ($234.0m) ($204.0m)
Change In Account Payable — — — — ($18.0m) $1.0m $13.0m ($13.0m)
Change In Accrued Expense — — — — ($85.0m) ($28.0m) $7.0m $80.0m
Change In Other Working Capital — — — — $22.0m $36.0m ($9.0m) ($24.0m)
Change In Payable — — — — ($18.0m) $1.0m $13.0m ($13.0m)
Change In Payables And Accrued Expense — — — — ($103.0m) ($27.0m) $20.0m $67.0m
Change In Receivables — — — — ($27.0m) ($27.0m) ($28.0m) ($54.0m)
Change In Working Capital — — — — ($108.0m) ($18.0m) ($17.0m) ($11.0m)
Changes In Account Receivables — — — — ($15.0m) $6.0m ($31.0m) ($32.0m)
Changes In Cash — — — $371.0m ($982.0m) ($2.0m) $6.0m —
End Cash Position — — — — $322.0m $315.0m $298.0m $295.0m
Financing Cash Flow — — — — ($1.1b) ($294.0m) ($284.0m) ($396.0m)
Free Cash Flow — — — — $208.0m $252.0m $287.0m $403.0m
Gain Loss On Investment Securities — — — ($5.0m) ($18.0m) ($6.0m) $6.0m —
Gain Loss On Sale Of Business — — — — $0 ($2.0m) ($24.0m) $0
Investing Cash Flow — — — — ($238.0m) ($175.0m) ($234.0m) ($204.0m)
Net Business Purchase And Sale — — — — ($66.0m) ($14.0m) $3.0m ($1.0m)
Net Foreign Currency Exchange Gain Loss — — — — $18.0m $4.0m $11.0m $10.0m
Operating Gains Losses — — — — $18.0m $2.0m ($13.0m) $10.0m
Other Non Cash Items — — — — $8.0m $1.0m $11.0m $8.0m
Pension And Employee Benefit Expense — — — $11.0m $18.0m $0 $0 —
Provisionand Write Offof Assets — — — — $6.0m $4.0m $9.0m $11.0m
Purchase Of Business — — — — ($66.0m) ($18.0m) ($26.0m) ($1.0m)
Sale Of Business — — — — $0 $4.0m $29.0m $0
Net cash flows provided by operating activities — ($836k) ($773k) ($2.0m) $372.0m $467.0m $524.0m $600.0m
Capital expenditures — ($93k) ($202k) ($79k) ($164.0m) ($215.0m) ($237.0m) ($197.0m)
Capital expenditures funded by liabilities — — — — $29.0m $46.0m $43.0m $54.0m
Capital Expenditure Reported — — — — ($164.0m) ($215.0m) ($237.0m) ($197.0m)
Purchases of investments — — — — ($162.0m) ($95.0m) $0 ($58.0m)
Net Investment Purchase And Sale — — — — ($7.0m) $49.0m $0 ($7.0m)
Purchase Of Investment — — — — ($162.0m) ($95.0m) $0 ($58.0m)
Sales of investments — — — — $155.0m $144.0m $0 $51.0m
Sale Of Investment — — — — $155.0m $144.0m $0 $51.0m
Proceeds from divestitures — — — — $0 $4.0m $29.0m $0
Other investing activities, net — — — — ($1.0m) $5.0m $0 $1.0m
Net Other Investing Changes — — — $9.0m ($1.0m) $5.0m — $1.0m
Net cash flows used in investing activities — — — — ($238.0m) ($175.0m) ($234.0m) ($204.0m)
Proceeds from long-term debt — — — — $700.0m $440.0m $181.0m $792.0m
Proceeds from debt, net of issuance costs (note 9) — $1.9m $4.8m — — — — —
Issuance Of Debt — — — — $700.0m $440.0m $181.0m $792.0m
Long Term Debt Issuance — — — — $700.0m $440.0m $181.0m $792.0m
Net Issuance Payments Of Debt — — — — $500.0m $410.0m ($165.0m) ($253.0m)
Net Long Term Debt Issuance — — — — $500.0m $410.0m ($165.0m) ($253.0m)
Repayments of long-term debt — — — — ($200.0m) ($30.0m) ($346.0m) ($1.0b)
Loss on repayment of long-term debt (note 9) — — $1.5m — — — — —
Payment of amendment fees on debt (note 9) — — — — ($240k) — — —
Repayment of debt (note 9) — ($983k) ($838k) ($1.1m) ($4.8m) — — —
Payment of interest on debt (note 9) — ($657k) ($1.1m) ($1.3m) ($1.0m) — — —
Long Term Debt Payments — — — — ($200.0m) ($30.0m) ($346.0m) ($1.0b)
Repayment Of Debt — — — — ($200.0m) ($30.0m) ($346.0m) ($1.0b)
Dividends to stockholders of UL Solutions — — — — ($1.6b) ($680.0m) ($100.0m) ($104.0m)
Dividends to non-controlling interest — — — — ($13.0m) ($14.0m) ($15.0m) ($17.0m)
Cash Dividends Paid — — — — ($1.6b) ($680.0m) ($100.0m) ($104.0m)
Common Stock Dividend Paid — — — — ($1.6b) ($680.0m) ($100.0m) ($104.0m)
Dividend Received CFO — — — $2.0m $2.0m — — —
Other financing activities, net — — — — ($3.0m) ($10.0m) ($4.0m) ($7.0m)
Accretion and other financing costs (note 9) — $917k $1.2m $967k $1.2m — — —
Net Other Financing Charges — — — — ($16.0m) ($24.0m) ($19.0m) ($39.0m)
Net cash flows used in financing activities — — — — ($1.1b) ($294.0m) ($284.0m) ($396.0m)
Effect of exchange rate changes on cash and cash equivalents — — — — ($24.0m) ($5.0m) ($23.0m) ($3.0m)
Effect of exchange rate changes on cash — $64k $182k ($95k) ($112k) — — —
Effect Of Exchange Rate Changes — — — — ($24.0m) ($5.0m) ($23.0m) ($3.0m)
Net decrease in cash and cash equivalents — — — — ($1.0b) ($7.0m) ($17.0m) ($3.0m)
Net increase (decrease) in cash for the year — ($279k) $14.9m ($6.2m) ($8.8m) — — —
Change in restricted cash — $176 ($5k) ($261k) ($234k) — — —
Change In Cash Supplemental As Reported — — — — ($1.0b) ($7.0m) ($17.0m) ($3.0m)
Cash paid during the period for interest — — — — $17.0m $32.0m $57.0m $40.0m
Cash paid during the period for income taxes — — — — $68.0m $57.0m $66.0m $92.0m

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.