AMPHENOL CORP /DE/
For the period ended Dec 31, 2025. Filed Feb 11, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 11, 2026
APH$79.95-0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flow
(dollars in millions)
| | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|
| · · Year Ended December 31, · | ||||||||||
| · · 2025 · · 2024 · · 2023 | ||||||||||
| Cash from operating activities: | | | | | | | | | | |
| Net income | | $4,305.3 | | $2,441.6 | | $1,945.5 | | |||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | | |
| Depreciation and amortization | | 922.4 | | 572.5 | | 406.4 | | |||
| Stock-based compensation expense | | 135.4 | | 109.5 | | 99.0 | | |||
| Deferred income tax benefit | | (65.6) | | | (82.8) | | | (58.8) | | |
| Gain on bargain purchase acquisition | | — | | — | | (5.4) | | |||
| Net change in operating assets and liabilities, excluding effects of acquisitions: | | | | | | | | | | |
| Accounts receivable, net | | (964.4) | | | (586.8) | | | 146.4 | | |
| Inventories | | (487.4) | | | (200.1) | | | 71.4 | | |
| Prepaid expenses and other current assets | | (150.7) | | | (106.8) | | | (34.1) | | |
| Accounts payable | | 554.1 | | | 423.1 | | | (34.6) | | |
| Accrued income taxes | | 276.9 | | | 3.1 | | | 7.7 | | |
| Other accrued liabilities | | 739.2 | | | 257.0 | | | (7.0) | | |
| Accrued pension and postretirement benefits | | 0.1 | | | (2.4) | | | (0.3) | | |
| Other long-term assets and liabilities | | 109.4 | | | (13.2) | | | (7.5) | | |
| Net cash provided by operating activities | | 5,374.7 | | 2,814.7 | | 2,528.7 | | |||
| | | | | | | | | | | |
| Cash from investing activities: | | | | | | | | | | |
| Capital expenditures | | (996.6) | | (665.4) | | (372.8) | | |||
| Proceeds from disposals of property, plant and equipment | | 14.8 | | 7.8 | | 4.0 | | |||
| Purchases of investments | | (309.3) | | (26.2) | | (305.7) | | |||
| Sales and maturities of investments | | 27.6 | | 189.7 | | 246.3 | | |||
| Acquisitions, net of cash acquired | | (3,818.6) | | (2,156.4) | | (970.4) | | |||
| Other, net | | | — | | | 1.9 | | | 4.9 | |
| Net cash used in investing activities | | (5,082.1) | | (2,648.6) | | (1,393.7) | | |||
| | | | | | | | | | | |
| Cash from financing activities: | | | | | | | | | | |
| Proceeds from issuance of senior notes and other long-term debt | | 8,921.7 | | 2,991.3 | | 354.9 | | |||
| Repayments of senior notes and other long-term debt | | (401.7) | | | (364.4) | | | (15.7) | | |
| (Repayments) borrowings under commercial paper programs, net | | | — | | | — | | | (632.6) | |
| Payment of costs related to debt financing | | (89.1) | | (28.4) | | (2.3) | | |||
| Payment of deferred purchase price related to acquisitions | | | — | | — | | | (1.5) | | |
| Purchase of treasury stock | | (665.2) | | (689.3) | | (585.1) | | |||
| Proceeds from exercise of stock options | | | 553.0 | | | 447.4 | | | 394.5 | |
| Distributions to and purchases of noncontrolling interests | | | (5.8) | | | (33.0) | | | (24.0) | |
| Dividend payments | | (802.2) | | (595.1) | | (500.6) | | |||
| Treasury lock settlement | | | (88.0) | | | — | | | — | |
| Other, net | | | 0.5 | | | 1.4 | | | — | |
| Net cash provided by (used in) financing activities | | 7,423.2 | | 1,729.9 | | (1,012.4) | | |||
| | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | 97.8 | | (54.0) | | (20.7) | | |||
| | | | | | | | | | | |
| Net increase in cash and cash equivalents | | 7,813.6 | | 1,842.0 | | 101.9 | | |||
| Cash and cash equivalents balance, beginning of year | | 3,317.0 | | 1,475.0 | | 1,373.1 | | |||
| Cash and cash equivalents balance, end of year | | $11,130.6 | | $3,317.0 | | $1,475.0 | | |||
| | | | | | | | | | | |
| Cash paid during the year for: | | | | | | | | | | |
| Interest | | $288.1 | | $179.5 | | $129.2 | | |||
| Income taxes, net | | 1,084.1 | | 650.0 | | 560.4 | | |||
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