Archer-Daniels-Midland Co
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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FY2024 · Filed Feb 20, 2025
ADM$69.30-0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| (In millions) | Year Ended December 31 | ||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities | |||
| Net earnings including non-controlling interests | $1,779 | $3,466 | $4,365 |
| Adjustments to reconcile net earnings to net cash provided by operating activities | |||
| Depreciation and amortization | 1,141 | 1,059 | 1,028 |
| Impairment of goodwill, intangibles, long-lived assets, and investments | 519 | 309 | 37 |
| Deferred income taxes | (130) | (23) | (89) |
| Equity in earnings of affiliates, net of dividends | (180) | (143) | (457) |
| Stock compensation expense | 74 | 112 | 147 |
| Deferred cash flow hedges | (40) | 15 | (84) |
| (Gain) loss on sales of assets and businesses/investment revaluation | (12) | 38 | (115) |
| Other – net | 131 | (106) | 178 |
| Changes in operating assets and liabilities, net of acquisitions and dispositions | |||
| Segregated investments | (693) | (194) | (1,512) |
| Trade receivables | 447 | 737 | (1,682) |
| Inventories | 162 | 2,889 | (295) |
| Other current assets | 665 | 694 | (279) |
| Trade payables | (719) | (1,544) | 1,389 |
| Payables to brokerage customers | (78) | (2,059) | 891 |
| Accrued expenses and other payables | (276) | (790) | (44) |
| Net cash provided by operating activities | 2,790 | 4,460 | 3,478 |
| Cash flows from investing activities | |||
| Capital expenditures | (1,563) | (1,494) | (1,319) |
| Net assets of businesses acquired | (927) | (23) | (22) |
| Proceeds from sales of assets, businesses and investments | 66 | 60 | 131 |
| Investments in affiliates | (58) | (18) | (77) |
| Purchases of marketable securities | (308) | — | — |
| Proceeds from sales of marketable securities | 84 | — | — |
| Cost method investments | — | — | (155) |
| Other – net | 4 | (21) | 42 |
| Net cash used in investing activities | (2,702) | (1,496) | (1,400) |
| Cash flows from financing activities | |||
| Long-term debt borrowings | 27 | 501 | 752 |
| Long-term debt payments | (1) | (963) | (482) |
| Net change in short-term debt | 1,800 | (390) | (428) |
| Share repurchases | (2,327) | (2,673) | (1,450) |
| Cash dividends | (985) | (977) | (899) |
| Acquisition of non-controlling interests | (8) | — | — |
| Other – net | (36) | (102) | 8 |
| Net cash used in financing activities | (1,530) | (4,604) | (2,499) |
| Effect of exchange rate on cash, cash equivalents, restricted cash, and restricted cash equivalents | (24) | (3) | — |
| Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents | (1,466) | (1,643) | (421) |
| Cash, cash equivalents, restricted cash, and restricted cash equivalents – beginning of year | 5,390 | 7,033 | 7,454 |
| Cash, cash equivalents, restricted cash, and restricted cash equivalents – end of year | $3,924 | $5,390 | $7,033 |
| Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the Consolidated Balance Sheets | |||
| Cash and cash equivalents | $611 | $1,368 | $1,037 |
| Restricted cash and restricted cash equivalents included in segregated cash and investments | 3,313 | 4,022 | 5,996 |
| Total cash, cash equivalents, restricted cash, and restricted cash equivalents | $3,924 | $5,390 | $7,033 |
| Cash paid for interest and income taxes were as follows: | |||
| Interest | $710 | $711 | $409 |
| Income taxes | $658 | $742 | $708 |
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