American Water Works Company, Inc.
For the period ended Dec 31, 2025. Filed Feb 18, 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 18, 2026
AWK$150.36+0.8%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 for the years ended
(In millions)
| For the Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $1,111 | $1,051 | $944 |
| Adjustments to reconcile to net cash flows provided by operating activities: | |||
| Depreciation and amortization | 894 | 788 | 704 |
| Deferred income taxes and amortization of investment tax credits | 135 | 156 | 208 |
| Provision for losses on accounts receivable | 48 | 31 | 24 |
| Pension and non-pension postretirement benefits | 1 | (3) | (6) |
| Other non-cash, net | (30) | 34 | (27) |
| Changes in assets and liabilities: | |||
| Receivables and unbilled revenues | (145) | (107) | (56) |
| Income tax receivable | 16 | 61 | 28 |
| Pension and non-pension postretirement benefit contributions | (49) | (52) | (49) |
| Accounts payable and accrued liabilities | 97 | 111 | 70 |
| Accrued taxes | (30) | 92 | 21 |
| Other assets and liabilities, net | 11 | (117) | 13 |
| Net cash provided by operating activities | 2,059 | 2,045 | 1,874 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Capital expenditures | (3,126) | (2,856) | (2,575) |
| Acquisitions, net of cash acquired | (71) | (417) | (81) |
| Removal costs from property, plant and equipment retirements, net | (175) | (152) | (159) |
| Purchases of available-for-sale fixed-income securities | (46) | (135) | — |
| Proceeds from sales and maturities of available-for-sale fixed-income securities | 109 | 181 | — |
| Net cash used in investing activities | (3,309) | (3,379) | (2,815) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from long-term debt, net of discount | 1,781 | 1,437 | 1,264 |
| Repayments of long-term debt | (664) | (475) | (282) |
| Net proceeds from common stock financing | — | — | 1,688 |
| Net short-term borrowings (repayments) with maturities less than three months | 709 | 700 | (996) |
| Advances and contributions in aid of construction, net of refunds of $31, $33 and $25 in 2025, 2024 and 2023, respectively | 67 | 39 | 60 |
| Debt issuance costs | (17) | (14) | (16) |
| Dividends paid | (633) | (585) | (532) |
| Other, net | 6 | 8 | 2 |
| Net cash provided by financing activities | 1,249 | 1,110 | 1,188 |
| Net (decrease) increase in cash, cash equivalents and restricted funds | (1) | (224) | 247 |
| Cash, cash equivalents and restricted funds at beginning of period | 140 | 364 | 117 |
| Cash, cash equivalents and restricted funds at end of period | $139 | $140 | $364 |
| Cash paid during the year for: | |||
| Interest, net of capitalized amount | $568 | $483 | $445 |
| Non-cash investing activity: | |||
| Capital expenditures acquired on account but unpaid as of year end | $350 | $347 | $399 |
| Acquisition financed by treasury stock | $11 | $— | $— |
| Non-cash financing activity: | |||
| Settlements of long-term debt | $27 | $— | $— |
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