Cash Flow Statement

Operating Cash Flow

+6%

-5%

10Y

Currency: USD

	Feb-2002	May-2002	Aug-2002	Nov-2002	Feb-2003	May-2003	Aug-2003	Nov-2003	Feb-2004	May-2004	Aug-2004	Nov-2004	Feb-2005	May-2005	Aug-2005	Nov-2005	Feb-2006	May-2006	Aug-2006	Nov-2006	Feb-2007	May-2007	Aug-2007	Nov-2007	Feb-2008	May-2008	Aug-2008	Nov-2008	Feb-2009	May-2009	Aug-2009	Nov-2009	Feb-2010	May-2010	Aug-2010	Nov-2010	Feb-2011	May-2011	Aug-2011	Nov-2011	Feb-2012	May-2012	Aug-2012	Nov-2012	Feb-2013	May-2013	Aug-2013	Nov-2013	Feb-2014	May-2014	Aug-2014	Nov-2014	Feb-2015	May-2015	Aug-2015	Nov-2015	Feb-2016	May-2016	Aug-2016	Nov-2016	Feb-2017	May-2017	Aug-2017	Nov-2017	Feb-2018	May-2018	Aug-2018	Nov-2018	Feb-2019	May-2019	Aug-2019	Nov-2019	Feb-2020	May-2020	Aug-2020	Nov-2020	Feb-2021	May-2021	Aug-2021	Nov-2021	Feb-2022	May-2022	Aug-2022	Nov-2022	Feb-2023	May-2023	Aug-2023	Nov-2023	Feb-2024	May-2024	Aug-2024	Nov-2024	Feb-2025	May-2025	Aug-2025	Nov-2025
Operating Cash Flow
Net Income	136	150	164	178	203	205	191	210	220	233	278	292	277	301	303	315	325	335	321	320	332	276	280	292	(613)	(599)	(693)	(729)	(301)	(340)	(217)	(257)	99	142	134	229	560	585	656	622	445	443	404	409	388	369	1 766	1 868	1 943	2 097	771	782	836	870	978	1 027	1 061	1 140	1 189	1 323	1 539	1 621	1 774	1 864	2 331	2 676	3 321	3 139	3 459	2 476	807	862	21	86	1 125	2 050	2 032	1 307	797	(14)	1	1 298	145	144	(39)	(299)	1 543	1 584	1 765	2 519	636	744	(31)	(400)	1 268	1 162
Depreciation & Amortization	52	52	53	53	54	58	65	72	80	84	85	87	93	99	104	114	120	119	124	126	132	141	145	149	155	160	162	155	144	137	141	146	144	141	128	124	119	112	104	99	98	102	105	107	108	109	120	130	140	151	154	156	162	166	172	174	180	193	206	225	238	252	265	277	294	308	322	330	333	336	336	336	332	311	300	297	299	299	313	323	342	354	359	367	400	396	414	427	429	434	435	446	446	439	433	413
Change in Deffered Taxes	4	5	6	8	21	24	21	22	31	33	44	60	48	56	67	54	30	32	28	23	53	41	25	51	98	98	106	78	2	(28)	(38)	(30)	(31)	32	49	64	71	46	45	36	48	50	55	52	39	48	17	9	42	60	100	112	79	78	106	192	251	269	297	173	129	62	2	105	115	242	304	232	427	65	(228)	(974)	(1 154)	(809)	(505)	326	336	139	121	108	85	205	313	245	208	186	26	18	148	173	(57)	(65)	(210)	(201)	246	286
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	8	0	0	0	17	26	33	41	32	33	37	42	46	48	49	51	56	55	57	57	46	49	45	44	48	46	45	41	41	42	45	47	50	49	52	55	55	56	53	53	54	58	59	58	56	55	54	57	61	63	68	67	64	62	62	64	60	60	61	62	63	64	65	45	45	46	47	67	69	66	63	62	64	66	72	75	72	65	63	60
Other Non-Cash Items	34	25	15	10	(22)	(18)	(7)	1	26	29	23	21	35	63	61	66	66	3	16	16	(40)	(38)	5	10	913	947	1 026	1 035	602	588	476	546	199	242	255	146	66	43	31	75	100	75	88	98	73	64	(1 297)	(1 329)	(1 307)	(1 262)	98	106	109	112	102	96	108	104	96	90	(137)	(48)	(48)	(197)	(506)	(957)	(1 641)	(1 353)	(1 901)	(629)	1 439	2 278	3 361	3 054	1 754	84	54	1 028	1 472	2 353	2 486	1 150	2 377	2 267	2 344	2 552	841	857	711	219	2 459	2 425	3 249	3 378	1 127	1 124
Cash Taxes Paid	75	0	0	0	67	0	0	0	77	0	0	0	84	0	0	0	43	0	0	0	154	0	0	0	39	0	0	0	138	0	0	0	221	0	0	0	88	0	0	0	(32)	0	0	0	144	0	0	0	118	0	0	0	170	0	0	0	80	0	0	0	220	0	0	0	239	0	0	0	186	0	0	0	85	0	0	0	190	0	0	0	325	0	0	0	130	0	0	0	334	0	0	0	197	0	0	0
Cash Interest Paid	122	0	0	0	103	0	0	0	137	0	0	0	125	0	0	0	199	0	0	0	221	0	0	0	329	0	0	0	333	0	0	0	308	0	0	0	203	0	0	0	173	0	0	0	197	0	0	0	313	0	0	0	325	0	0	0	310	0	0	0	300	0	0	0	322	0	0	0	325	0	0	0	449	0	0	0	419	0	0	0	369	0	0	0	386	0	0	0	419	0	0	0	416	0	0	0
Change in Working Capital	(13)	(11)	(17)	(12)	(21)	(82)	(59)	(36)	(18)	(77)	(123)	(217)	(132)	(92)	(94)	(27)	(105)	(107)	(146)	(217)	(163)	(199)	(45)	(49)	(32)	(33)	(82)	61	60	128	66	(40)	(9)	(39)	47	20	(196)	15	(6)	60	93	(30)	(18)	(133)	(52)	(127)	71	119	9	9	(117)	(209)	(106)	(171)	(142)	(65)	(186)	(151)	(131)	(73)	(72)	(155)	(239)	(300)	(302)	(216)	(138)	90	(72)	88	(27)	(153)	(10)	(2)	(100)	80	85	58	179	112	(209)	(264)	(365)	(486)	(156)	(172)	(99)	(63)	(273)	(541)	(444)	(561)	(301)	(117)	(305)	(283)
Cash from Operating Activities	213 N/A	221 +4%	221 0%	237 +7%	236 0%	187 -21%	211 +13%	268 +27%	340 +27%	300 -12%	306 +2%	242 -21%	321 +32%	427 +33%	441 +3%	522 +18%	436 -16%	382 -12%	343 -10%	267 -22%	313 +17%	222 -29%	410 +85%	452 +10%	520 +15%	573 +10%	519 -9%	598 +15%	507 -15%	485 -4%	428 -12%	365 -15%	403 +10%	517 +29%	611 +18%	583 -5%	620 +6%	801 +29%	831 +4%	891 +7%	784 -12%	639 -18%	635 -1%	532 -16%	556 +5%	463 -17%	677 +46%	796 +18%	826 +4%	1 055 +28%	1 005 -5%	947 -6%	1 081 +14%	1 054 -2%	1 216 +15%	1 423 +17%	1 414 -1%	1 554 +10%	1 656 +7%	1 738 +5%	1 696 -2%	1 732 +2%	1 754 +1%	1 749 0%	1 931 +10%	2 054 +6%	2 167 +6%	2 437 +12%	2 246 -8%	2 335 +4%	2 327 0%	2 349 +1%	2 551 +9%	2 645 +4%	2 577 -3%	2 838 +10%	2 807 -1%	2 836 +1%	2 888 +2%	2 887 0%	2 705 -6%	2 748 +2%	2 834 +3%	2 542 -10%	2 757 +8%	2 664 -3%	2 725 +2%	2 823 +4%	2 780 -2%	2 805 +1%	3 030 +8%	2 991 -1%	3 152 +5%	3 099 -2%	2 769 -11%	2 701 -2%
Investing Cash Flow
Capital Expenditures	(71)	(73)	(77)	(76)	(72)	(77)	(84)	(90)	(105)	(109)	(110)	(113)	(120)	(129)	(132)	(133)	(133)	(146)	(173)	(177)	(192)	(165)	(136)	(136)	(144)	(148)	(149)	(160)	(129)	(154)	(142)	(122)	(108)	(86)	(86)	(89)	(89)	(85)	(85)	(73)	(68)	(67)	(65)	(67)	(62)	(65)	(76)	(96)	(224)	(333)	(483)	(679)	(719)	(718)	(706)	(692)	(891)	(931)	(965)	(969)	(907)	(955)	(1 044)	(1 021)	(1 058)	(1 009)	(923)	(972)	(886)	(874)	(871)	(804)	(727)	(715)	(649)	(656)	(865)	(834)	(940)	(996)	(1 027)	(1 110)	(1 108)	(1 112)	(1 035)	(1 116)	(1 182)	(1 264)	(1 269)	(1 367)	(1 390)	(1 289)	(1 214)	(1 032)	(921)	(939)
Other Items	(514)	(186)	(72)	(1)	(0)	(1 064)	(1 060)	(1 056)	(1 053)	10	6	(8)	(1 103)	(960)	(946)	(977)	117	1	(1 048)	(1 005)	(1 005)	(1 229)	(196)	(198)	(969)	(765)	(539)	(518)	257	522	317	297	364	123	105	116	277	234	211	168	(67)	(45)	(181)	(150)	(145)	(151)	(4 667)	(4 668)	(4 640)	(4 647)	32	13	(297)	(293)	(613)	(592)	(1 316)	(1 599)	(1 287)	(1 560)	(554)	(274)	(405)	(330)	(366)	(247)	(248)	(4 000)	(3 946)	(4 118)	(3 998)	224	196	98	89	(182)	777	929	931	877	(9)	(37)	(36)	104	36	51	68	(19)	(17)	(4)	(152)	(166)	239	238	1 269	1 292
Cash from Investing Activities	(585) N/A	(259) +56%	(149) +42%	(77) +49%	(72) +6%	(1 141) -1 485%	(1 143) 0%	(1 146) 0%	(1 159) -1%	(100) +91%	(104) -4%	(121) -16%	(1 223) -913%	(1 090) +11%	(1 078) +1%	(1 110) -3%	(16) +99%	(145) -831%	(1 221) -741%	(1 182) +3%	(1 197) -1%	(1 393) -16%	(332) +76%	(333) -1%	(1 113) -234%	(913) +18%	(688) +25%	(678) +1%	129 N/A	369 +187%	176 -52%	175 0%	257 +46%	37 -86%	19 -48%	28 +44%	188 +582%	150 -20%	126 -16%	95 -25%	(135) N/A	(112) +17%	(246) -119%	(217) +12%	(207) +5%	(216) -4%	(4 742) -2 099%	(4 764) 0%	(4 864) -2%	(4 980) -2%	(451) +91%	(666) -48%	(1 016) -53%	(1 011) +0%	(1 319) -30%	(1 284) +3%	(2 207) -72%	(2 530) -15%	(2 252) +11%	(2 529) -12%	(1 462) +42%	(1 229) +16%	(1 449) -18%	(1 351) +7%	(1 423) -5%	(1 255) +12%	(1 171) +7%	(4 972) -324%	(4 832) +3%	(4 992) -3%	(4 869) +2%	(580) +88%	(531) +9%	(617) -16%	(561) +9%	(838) -50%	(88) +90%	95 N/A	(10) N/A	(119) -1 126%	(1 036) -771%	(1 146) -11%	(1 145) +0%	(1 008) +12%	(999) +1%	(1 065) -7%	(1 114) -5%	(1 283) -15%	(1 286) 0%	(1 371) -7%	(1 543) -12%	(1 454) +6%	(975) +33%	(794) +19%	348 N/A	354 +2%
Financing Cash Flow
Net Issuance of Common Stock	199	63	55	38	32	30	452	456	466	464	42	42	53	56	54	49	38	38	(28)	(32)	(31)	(532)	(470)	(465)	(473)	32	33	35	33	24	22	17	17	(270)	(274)	(258)	(235)	85	(101)	(209)	(358)	(765)	(482)	(367)	(220)	213	130	121	126	74	68	65	64	63	75	128	79	85	74	(353)	(1 063)	(1 061)	(1 073)	(931)	(989)	(1 098)	(1 490)	(1 259)	(441)	(338)	25	20	28	22	77	83	59	(334)	(1 255)	(1 215)	(1 213)	(1 818)	(1 301)	(2 846)	(3 158)	(2 183)	(1 737)	(455)	(145)	(301)	(597)	(586)	(1 050)	(1 176)	(1 250)	(1 269)
Net Issuance of Debt	43	(18)	(105)	(175)	(193)	971	505	434	317	(758)	(336)	(243)	866	644	626	586	(454)	(250)	963	985	966	1 726	381	330	1 057	302	126	205	(687)	(895)	(638)	(730)	(664)	(300)	(381)	(376)	(618)	(1 060)	(876)	(748)	(226)	316	934	864	140	63	3 274	3 103	3 686	3 643	(682)	(377)	(231)	(433)	222	73	762	1 017	492	1 103	1 191	941	1 094	904	942	882	1 192	4 440	3 640	3 496	3 004	(1 237)	(1 457)	(1 233)	(1 357)	(1 395)	(1 766)	(1 763)	(1 054)	(672)	(47)	518	356	1 819	2 028	1 360	736	(483)	(589)	(486)	(119)	(127)	(392)	(322)	(1 061)	(922)
Cash Paid for Dividends	0	0	0	0	0	0	0	0	(3)	(6)	(8)	(11)	(10)	(10)	(10)	(10)	(10)	(10)	(10)	(10)	(7)	(5)	(2)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(60)	(120)	(180)	(242)	(261)	(281)	(300)	(315)	(336)	(357)	(378)	(400)	(440)	(478)	(517)	(558)	(560)	(564)	(567)	(569)	(570)	(572)	(573)	(575)	(578)	(577)	(574)	(573)	(576)	(579)	(584)	(588)	(603)	(620)	(638)	(654)	(675)	(695)	(714)	(732)	(729)	(724)	(719)
Other	(5)	(4)	(3)	(3)	0	(33)	(34)	(34)	(34)	(1)	(1)	(1)	(24)	(24)	(24)	(24)	0	3	(7)	(3)	(2)	(0)	6	6	1	0	6	2	7	4	3	36	24	27	26	(5)	7	11	11	9	9	(20)	(673)	(669)	(19)	19	608	614	(35)	(23)	45	35	151	147	161	274	177	181	164	57	52	(11)	(22)	(42)	(154)	(133)	(138)	(146)	(48)	(49)	(43)	(24)	(34)	(46)	(47)	(60)	(65)	(60)	(95)	(98)	(97)	(124)	(97)	(97)	(102)	(82)	(73)	(71)	(86)	(91)	(96)	(113)	(88)	(80)	(75)	(67)
Cash from Financing Activities	237 N/A	41 -83%	(53) N/A	(141) -163%	(162) -15%	969 N/A	923 -5%	856 -7%	745 -13%	(301) N/A	(304) -1%	(212) +30%	884 N/A	665 -25%	646 -3%	602 -7%	(426) N/A	(219) +49%	919 N/A	941 +2%	925 -2%	1 189 +28%	(86) N/A	(128) -49%	585 N/A	334 -43%	165 -51%	242 +46%	(647) N/A	(867) -34%	(614) +29%	(677) -10%	(623) +8%	(543) +13%	(629) -16%	(640) -2%	(846) -32%	(965) -14%	(966) 0%	(948) +2%	(575) +39%	(468) +19%	(221) +53%	(172) +22%	(99) +43%	295 N/A	4 012 +1 261%	3 838 -4%	3 777 -2%	3 695 -2%	(569) N/A	(278) +51%	(16) +94%	(283) -1 625%	338 N/A	295 -13%	776 +163%	1 021 +32%	450 -56%	507 +13%	(135) N/A	(468) -247%	(358) +24%	(447) -25%	(601) -35%	(789) -31%	(914) -16%	2 518 N/A	2 593 +3%	2 548 -2%	2 421 -5%	(1 808) N/A	(2 031) -12%	(1 826) +10%	(1 899) -4%	(1 946) -2%	(2 347) -21%	(2 734) -17%	(2 981) -9%	(2 560) +14%	(1 930) +25%	(2 000) -4%	(1 622) +19%	(1 708) -5%	(1 820) -7%	(1 507) +17%	(1 694) -12%	(1 646) +3%	(1 475) +10%	(1 553) -5%	(1 506) +3%	(1 541) -2%	(2 262) -47%	(2 306) -2%	(3 111) -35%	(2 978) +4%
Change in Cash
Effect of Foreign Exchange Rates	(2)	(1)	(0)	1	2	24	32	30	96	66	64	65	(2)	5	(0)	(0)	(1)	1	(18)	(18)	(19)	(21)	(1)	(1)	(5)	(3)	(5)	(6)	5	5	5	6	(6)	(8)	(7)	(6)	4	7	5	2	3	(3)	(0)	1	(5)	(2)	(8)	(6)	(7)	(1)	2	(2)	(3)	(8)	(10)	(10)	(9)	(9)	(6)	(10)	(5)	(2)	1	6	6	1	(1)	(7)	(5)	(3)	(5)	3	(1)	2	6	5	7	5	2	0	(1)	(3)	(6)	(3)	(4)	(2)	2	(0)	(1)	1	(0)	(1)	0	1	2	2
Net Change in Cash	(137) N/A	3 N/A	18 +510%	21 +12%	5 -77%	39 +719%	22 -43%	8 -63%	23 +182%	(35) N/A	(38) -9%	(25) +32%	(20) +23%	8 N/A	9 +14%	14 +55%	(7) N/A	18 N/A	24 +28%	8 -65%	23 +172%	(4) N/A	(9) -125%	(10) -9%	(13) -33%	(8) +36%	(8) N/A	156 N/A	(7) N/A	(8) -14%	(5) +38%	(131) -2 419%	30 N/A	4 -87%	(6) N/A	(34) -491%	(34) N/A	(8) +78%	(4) +48%	40 N/A	77 +92%	56 -27%	169 +203%	145 -14%	246 +70%	540 +120%	(62) N/A	(135) -119%	(268) -98%	(231) +14%	(13) +95%	2 N/A	46 +2 100%	(247) N/A	225 N/A	424 +88%	(27) N/A	37 N/A	(152) N/A	(294) -93%	94 N/A	32 -66%	(52) N/A	(43) +17%	(87) -104%	11 N/A	81 +639%	(24) N/A	3 N/A	(111) N/A	(125) -12%	(37) +70%	(12) +67%	204 N/A	123 -40%	59 -52%	379 +541%	201 -47%	(101) N/A	208 N/A	(261) N/A	(402) -54%	62 N/A	(176) N/A	(66) +63%	91 N/A	(82) N/A	(106) -30%	19 N/A	(119) N/A	(19) +84%	(5) +73%	(84) -1 586%	0 N/A	7 +7 300%	79 +964%
Free Cash Flow
Free Cash Flow	142 N/A	149 +4%	144 -3%	161 +12%	165 +2%	110 -33%	127 +16%	178 +40%	235 +32%	191 -19%	197 +3%	129 -34%	201 +55%	298 +48%	309 +4%	389 +26%	304 -22%	236 -22%	171 -28%	90 -47%	121 +34%	57 -53%	274 +381%	316 +16%	376 +19%	425 +13%	370 -13%	439 +18%	378 -14%	331 -12%	286 -14%	243 -15%	295 +22%	431 +46%	525 +22%	495 -6%	531 +7%	716 +35%	746 +4%	818 +10%	716 -13%	572 -20%	570 0%	466 -18%	494 +6%	399 -19%	601 +51%	701 +17%	603 -14%	722 +20%	523 -28%	268 -49%	362 +35%	337 -7%	510 +51%	731 +43%	522 -28%	623 +19%	690 +11%	769 +11%	789 +3%	777 -2%	710 -9%	727 +2%	874 +20%	1 045 +20%	1 244 +19%	1 465 +18%	1 360 -7%	1 462 +7%	1 456 0%	1 544 +6%	1 825 +18%	1 930 +6%	1 928 0%	2 183 +13%	1 942 -11%	2 002 +3%	1 947 -3%	1 891 -3%	1 679 -11%	1 638 -2%	1 725 +5%	1 430 -17%	1 722 +20%	1 548 -10%	1 542 0%	1 560 +1%	1 511 -3%	1 438 -5%	1 640 +14%	1 702 +4%	1 938 +14%	2 067 +7%	1 848 -11%	1 762 -5%

Income Statement Balance Sheet Cash Flow Statement

Constellation Brands Inc
NYSE:STZ

Cash Flow Statement

Cash Flow Statement
Constellation Brands Inc

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Constellation Brands Inc NYSE:STZ

Cash Flow Statement

Cash Flow Statement Constellation Brands Inc

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Constellation Brands Inc
NYSE:STZ

Cash Flow Statement
Constellation Brands Inc