CAMPBELL'S Co
For the period ended Aug 3, 2025. Filed Sep 18, 2025.
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FY2025 · Filed Sep 18, 2025
CPB$22.59-1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
(millions)
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| 53 weeks | 52 weeks | 52 weeks | |
| Cash flows from operating activities: | |||
| Net earnings | $602 | $567 | $858 |
| Adjustments to reconcile net earnings to operating cash flow | |||
| Impairment charges | 176 | 129 | — |
| Restructuring charges | 24 | 38 | 16 |
| Stock-based compensation | 57 | 99 | 63 |
| Amortization of inventory fair value adjustment from acquisition | — | 17 | — |
| Pension and postretirement benefit expense (income) | 24 | 39 | (22) |
| Depreciation and amortization | 434 | 411 | 387 |
| Deferred income taxes | (54) | (47) | (5) |
| Loss on sales of businesses | 25 | — | 13 |
| Other | 119 | 138 | 100 |
| Changes in working capital, net of acquisition and divestitures | |||
| Accounts receivable | 26 | (16) | (1) |
| Inventories | (80) | 11 | (64) |
| Other current assets | (14) | 4 | 13 |
| Accounts payable and accrued liabilities | (167) | (128) | (164) |
| Other | (41) | (77) | (51) |
| Net cash provided by operating activities | 1,131 | 1,185 | 1,143 |
| Cash flows from investing activities: | |||
| Purchases of plant assets | (426) | (517) | (370) |
| Purchases of routes | (144) | (29) | (13) |
| Sales of routes | 121 | 34 | 1 |
| Business acquired, net of cash acquired | — | (2,617) | — |
| Sales of businesses, net of cash divested | 258 | — | 41 |
| Other | 4 | 1 | 1 |
| Net cash used in investing activities | (187) | (3,128) | (340) |
| Cash flows from financing activities: | |||
| Short-term borrowings, including commercial paper and delayed draw term loan | 1,846 | 5,622 | 3,677 |
| Short-term repayments, including commercial paper and delayed draw term loan | (1,796) | (5,576) | (3,749) |
| Long-term borrowings | 1,144 | 2,496 | 500 |
| Long-term repayments | (1,550) | (100) | (566) |
| Dividends paid | (459) | (445) | (447) |
| Treasury stock purchases | (62) | (67) | (142) |
| Treasury stock issuances | — | 2 | 22 |
| Payments related to tax withholding for stock-based compensation | (30) | (46) | (19) |
| Payments of debt issuance costs | (12) | (23) | — |
| Other | — | — | 1 |
| Net cash provided by (used in) financing activities | (919) | 1,863 | (723) |
| Effect of exchange rate changes on cash | (1) | (1) | — |
| Net change in cash and cash equivalents | 24 | (81) | 80 |
| Cash and cash equivalents — beginning of period | 108 | 189 | 109 |
| Cash and cash equivalents — end of period | $132 | $108 | $189 |
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