Cash Flow Statement

Operating Cash Flow

+30%

+70%

10Y

Currency: USD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Jan-2004	Apr-2004	Jul-2004	Oct-2004	Jan-2005	Apr-2005	Jul-2005	Oct-2005	Dec-2005	Apr-2006	Jul-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Jan-2009	Apr-2009	Jul-2009	Oct-2009	Jan-2010	Apr-2010	Jul-2010	Oct-2010	Jan-2011	Apr-2011	Jul-2011	Oct-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Jan-2015	Apr-2015	Jul-2015	Oct-2015	Jan-2016	Apr-2016	Jul-2016	Oct-2016	Dec-2016	Apr-2017	Jul-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Jan-2021	Apr-2021	Jul-2021	Oct-2021	Jan-2022	Apr-2022	Jul-2022	Oct-2022	Dec-2022	Apr-2023	Jul-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Jan-2026
Operating Cash Flow
Net Income	(9)	(2)	4	9	12	14	13	18	19	20	22	14	11	9	7	8	7	1	1	5	14	27	37	46	57	72	83	55	38	26	19	42	48	48	43	44	79	120	150	169	151	135	131	131	135	125	115	109	26	34	22	68	121	92	68	85	86	115	151	107	112	88	68	133	224	185	171	106	28	88	120	321	387	423	498	300	368	499	546	657	695	701	745	747	746	797	732	660	552	378	269	286	180	113	115	70
Depreciation & Amortization	22	20	19	16	16	16	15	15	15	16	15	15	15	15	15	16	16	17	19	21	22	23	23	23	23	23	23	24	25	25	25	25	26	27	29	32	45	56	68	79	80	83	84	85	86	87	89	99	143	188	232	270	270	269	269	270	276	279	282	290	289	292	299	302	310	315	317	321	322	323	324	326	331	335	340	350	344	340	332	316	317	331	358	395	431	460	481	502	514	516	514	504	500	497	497	509
Change in Deffered Taxes	0	0	0	2	0	0	0	2	0	1	2	1	(1)	1	(1)	(4)	(4)	(5)	(5)	(4)	(4)	(3)	(0)	6	6	8	6	(12)	(8)	(9)	(3)	15	11	9	3	2	7	14	20	25	25	24	22	10	24	23	28	25	(1)	(12)	(23)	(21)	(11)	(12)	1	8	4	9	(6)	(12)	(16)	(21)	(21)	(99)	(93)	(95)	(100)	(17)	(17)	(13)	(6)	21	30	38	39	16	21	51	70	97	109	83	72	47	38	45	(14)	(22)	(68)	(141)	(124)	(186)	(165)	(130)	(108)	(79)
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	0	1	1	2	2	2	1	1	1	1	1	1	1	1	(11)	1	1	1	13	2	3	4	4	4	6	7	8	9	9	9	9	9	15	19	19	21	14	11	11	9	10	9	10	10	15	16	17	18	20	20	16	19	20	20	24	21	22	22	22	23	21	22	22	22	20	21	22	25	31	30	33	33	34	39	31	21	5	(1)	6	22
Other Non-Cash Items	0	0	(0)	(1)	(1)	(0)	(1)	(2)	(3)	(1)	(2)	3	4	2	2	3	3	7	7	7	8	5	5	(4)	(5)	(5)	(5)	23	23	23	12	(12)	(11)	(10)	2	4	10	12	5	13	12	12	22	15	13	15	(1)	(35)	(29)	(33)	(10)	(25)	(28)	(16)	(10)	(48)	(54)	(76)	(104)	(47)	(38)	(30)	(20)	0	(95)	(76)	(73)	(92)	(23)	(82)	(112)	(354)	(424)	(441)	(504)	(255)	(262)	(325)	(284)	(336)	(309)	(248)	(302)	(329)	(353)	(511)	(457)	(343)	(345)	(199)	(137)	(204)	(80)	13	51	145
Cash Taxes Paid	(0)	0	0	2	3	4	2	8	9	8	13	8	7	7	5	4	5	3	2	3	5	16	24	26	24	38	43	44	43	18	7	2	6	18	22	28	26	66	78	88	87	45	44	43	35	50	46	31	45	25	16	28	28	28	17	(3)	(3)	(3)	7	23	21	19	23	26	31	35	41	33	29	29	26	30	38	35	33	37	41	44	49	46	72	94	99	113	111	129	152	153	147	121	107	103	79	79	72	0
Cash Interest Paid	12	7	7	4	2	3	4	3	5	4	4	6	6	6	6	6	6	6	5	6	7	7	7	5	4	3	3	3	3	3	3	3	3	3	3	8	11	22	23	29	26	23	22	22	21	21	21	22	57	60	88	105	95	95	87	79	73	83	84	82	81	79	78	78	78	79	79	75	77	81	66	79	63	69	69	66	63	61	59	58	58	62	70	113	133	185	237	261	274	283	252	244	234	233	219	203
Change in Working Capital	(4)	10	10	7	4	2	(5)	(5)	(2)	4	9	5	8	(7)	(2)	2	(1)	6	0	(1)	(2)	(4)	(12)	(4)	(3)	(17)	(14)	2	(6)	17	22	9	12	(1)	1	(1)	7	(29)	(35)	(46)	(54)	10	4	8	(2)	(13)	(11)	13	(17)	(55)	(1)	(17)	13	89	65	106	95	74	81	53	94	90	53	74	(3)	13	27	81	111	109	135	50	25	118	198	214	258	93	(57)	(30)	(94)	(100)	17	(45)	(13)	67	114	102	322	350	380	440	389	331	218	415
Cash from Operating Activities	9 N/A	27 +208%	33 +23%	34 +3%	33 -2%	34 +1%	25 -27%	28 +13%	31 +12%	39 +25%	47 +19%	38 -18%	37 -2%	20 -45%	21 +3%	25 +16%	23 -8%	26 +16%	23 -12%	29 +25%	38 +32%	48 +25%	53 +11%	66 +24%	79 +21%	82 +3%	93 +14%	92 -1%	72 -22%	82 +15%	75 -9%	79 +6%	87 +9%	73 -15%	78 +6%	82 +5%	147 +81%	173 +18%	208 +20%	241 +16%	214 -11%	264 +24%	263 0%	250 -5%	255 +2%	237 -7%	222 -6%	211 -5%	121 -43%	123 +2%	221 +81%	275 +24%	365 +33%	422 +16%	393 -7%	421 +7%	407 -3%	402 -1%	405 +1%	391 -3%	440 +13%	420 -5%	379 -10%	410 +8%	343 -16%	341 -1%	341 +0%	399 +17%	420 +5%	425 +1%	462 +9%	363 -21%	349 -4%	472 +35%	570 +21%	625 +10%	729 +17%	659 -10%	606 -8%	704 +16%	718 +2%	768 +7%	891 +16%	814 -9%	850 +4%	858 +1%	858 0%	899 +5%	975 +8%	904 -7%	902 0%	839 -7%	824 -2%	824 0%	774 -6%	1 060 +37%
Investing Cash Flow
Capital Expenditures	(11)	(12)	(13)	(13)	(12)	(11)	(11)	(12)	(10)	(11)	(11)	(13)	(15)	(16)	(20)	(21)	(21)	(20)	(15)	(12)	(12)	(12)	(14)	(16)	(18)	(23)	(26)	(31)	(32)	(28)	(24)	(24)	(22)	(23)	(25)	(25)	(33)	(43)	(53)	(60)	(72)	(86)	(100)	(115)	(117)	(117)	(117)	(118)	(143)	(167)	(187)	(229)	(228)	(224)	(237)	(230)	(232)	(241)	(236)	(244)	(252)	(262)	(272)	(274)	(268)	(285)	(291)	(322)	(350)	(351)	(353)	(359)	(337)	(315)	(299)	(280)	(279)	(283)	(287)	(274)	(285)	(300)	(340)	(391)	(431)	(474)	(515)	(555)	(538)	(513)	(434)	(332)	(302)	(275)	(297)	(380)
Other Items	0	1	1	5	3	3	3	(0)	1	1	1	0	(0)	1	1	1	1	(80)	(80)	(79)	(79)	0	0	(0)	1	1	(16)	(21)	(34)	(34)	(16)	(32)	(20)	(36)	(41)	(759)	(760)	(753)	(753)	(24)	(31)	(37)	(43)	(38)	(42)	(57)	(171)	(777)	(2 852)	(2 815)	(2 691)	(2 095)	(8)	(15)	(15)	0	(6)	(4)	(2)	0	9	(7)	(11)	(10)	(11)	31	29	(21)	(17)	(44)	(35)	21	14	14	9	(31)	(31)	(32)	(56)	(216)	(436)	(1 686)	(2 154)	(2 025)	(2 948)	(1 666)	(1 186)	(1 120)	(172)	(202)	(187)	(166)	43	4	(196)	(301)
Cash from Investing Activities	(11) N/A	(11) -9%	(11) +1%	(8) +28%	(9) -14%	(8) +10%	(9) -6%	(12) -36%	(9) +22%	(10) -6%	(10) -4%	(13) -28%	(15) -14%	(16) -6%	(19) -23%	(21) -6%	(20) +2%	(99) -393%	(95) +4%	(91) +4%	(91) +0%	(12) +87%	(14) -19%	(16) -13%	(17) -11%	(23) -31%	(43) -89%	(52) -22%	(67) -28%	(62) +7%	(40) +36%	(56) -40%	(42) +25%	(59) -40%	(66) -13%	(784) -1 085%	(793) -1%	(796) 0%	(806) -1%	(84) +90%	(103) -24%	(123) -19%	(143) -16%	(154) -8%	(159) -3%	(173) -9%	(288) -66%	(895) -211%	(2 995) -234%	(2 983) +0%	(2 878) +4%	(2 324) +19%	(236) +90%	(239) -1%	(252) -6%	(230) +9%	(238) -4%	(245) -3%	(238) +3%	(243) -2%	(244) 0%	(269) -10%	(283) -5%	(284) 0%	(279) +2%	(255) +9%	(262) -3%	(342) -31%	(367) -7%	(394) -8%	(388) +2%	(338) +13%	(323) +4%	(301) +7%	(291) +4%	(311) -7%	(310) +0%	(315) -1%	(343) -9%	(490) -43%	(721) -47%	(1 985) -176%	(2 493) -26%	(2 417) +3%	(3 379) -40%	(2 140) +37%	(1 700) +21%	(1 675) +1%	(710) +58%	(715) -1%	(621) +13%	(499) +20%	(259) +48%	(271) -5%	(493) -82%	(681) -38%
Financing Cash Flow
Net Issuance of Common Stock	0	0	0	0	0	0	1	2	2	2	1	(10)	0	0	0	0	0	0	0	0	0	0	0	1	1	1	0	0	0	0	0	0	0	0	0	0	293	293	293	293	0	(0)	(0)	0	0	0	0	841	843	841	841	0	(2)	0	(6)	(6)	(11)	(11)	(5)	(5)	0	0	0	0	0	0	0	0	0	0	(12)	(19)	(74)	(74)	(62)	(55)	0	(76)	(98)	(168)	(185)	(158)	(173)	(126)	(152)	(113)	(75)	(53)	(9)	(29)	(29)	(34)	(69)	(39)	(39)	(34)
Net Issuance of Debt	8	(10)	(10)	(11)	(13)	(13)	(12)	(6)	5	5	4	1	(8)	(8)	(6)	(5)	(4)	48	43	33	23	(36)	(39)	(39)	(29)	(22)	(15)	(6)	(6)	(6)	(6)	(5)	(5)	(5)	(5)	677	339	300	281	(430)	(120)	(80)	(60)	(30)	(0)	(0)	(0)	632	2 116	2 089	2 052	1 331	(139)	(172)	(152)	(108)	(117)	(110)	(154)	(172)	(183)	(177)	(135)	(122)	(66)	(66)	(60)	(26)	(50)	(30)	(49)	(18)	67	(75)	(190)	(221)	(367)	(212)	(108)	3	283	1 532	1 949	1 872	2 861	1 486	1 001	959	(217)	(128)	(209)	(347)	(546)	(486)	(168)	(181)
Cash Paid for Dividends	0	0	0	0	0	0	0	0	0	(1)	(1)	(1)	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	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other	(6)	(6)	(5)	(3)	(3)	(1)	1	(2)	(3)	(14)	(15)	(2)	(12)	(0)	(0)	(0)	(0)	(2)	(2)	(2)	(2)	(0)	(1)	(0)	(0)	1	2	1	1	(1)	(2)	(1)	(1)	(1)	(0)	(24)	(25)	(24)	(25)	(1)	(1)	(1)	(1)	(1)	(2)	(2)	(13)	(15)	(56)	(63)	(53)	(56)	(18)	(25)	(30)	(26)	(23)	(10)	(4)	(7)	(9)	(10)	(11)	(32)	(32)	(40)	(46)	(22)	(22)	(20)	(17)	(18)	(29)	(22)	(30)	(31)	(62)	(63)	(54)	(57)	(57)	(67)	(74)	(68)	(38)	(32)	(27)	(30)	(22)	(19)	(21)	(19)	(19)	(57)	(127)	(162)
Cash from Financing Activities	2 N/A	(16) N/A	(16) +2%	(14) +9%	(16) -15%	(13) +20%	(10) +25%	(7) +33%	5 N/A	(8) N/A	(11) -35%	(13) -11%	(21) -71%	(8) +62%	(6) +31%	(5) +8%	(4) +24%	46 N/A	41 -11%	32 -23%	21 -33%	(36) N/A	(39) -10%	(39) +1%	(28) +27%	(20) +28%	(13) +38%	(5) +60%	(5) -6%	(7) -27%	(8) -14%	(6) +22%	(6) -1%	(6) 0%	(5) +16%	653 N/A	607 -7%	569 -6%	550 -3%	(137) N/A	(121) +12%	(81) +33%	(61) +25%	(31) +49%	(2) +93%	(2) -4%	(13) -512%	1 457 N/A	2 903 +99%	2 867 -1%	2 840 -1%	1 276 -55%	(159) N/A	(197) -24%	(188) +5%	(140) +26%	(151) -8%	(130) +14%	(163) -25%	(184) -13%	(192) -4%	(187) +3%	(146) +22%	(155) -6%	(98) +37%	(105) -7%	(106) 0%	(48) +55%	(73) -52%	(50) +31%	(78) -56%	(55) +29%	(36) +35%	(172) -382%	(282) -64%	(307) -9%	(428) -40%	(350) +18%	(260) +26%	(221) +15%	41 N/A	1 307 +3 120%	1 702 +30%	1 679 -1%	2 670 +59%	1 341 -50%	898 -33%	876 -2%	(248) N/A	(176) +29%	(259) -47%	(400) -54%	(634) -59%	(583) +8%	(335) +43%	(377) -12%
Change in Cash
Effect of Foreign Exchange Rates	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(5)	(7)	3	2	11	(1)	(3)	4	(4)	17	5	(4)	(6)	(13)	3	11	21	19	(2)	(2)	(8)	(8)	2	(8)	(4)	(9)	(10)	(1)	2	5	7	(2)	(5)	(10)	(21)	(19)	5	21	38	51	14	13	8	(14)	12	(1)	(17)	(2)	(15)
Net Change in Cash	0 N/A	(0) N/A	6 N/A	12 +87%	8 -34%	12 +59%	6 -52%	9 +57%	27 +186%	21 -23%	25 +20%	12 -50%	1 -92%	(4) N/A	(4) -9%	(1) +68%	(1) -14%	(27) -1 764%	(31) -15%	(31) 0%	(32) -4%	0 N/A	(0) N/A	11 N/A	34 +204%	38 +14%	37 -3%	34 -8%	(1) N/A	13 N/A	27 +108%	17 -37%	39 +122%	9 -77%	6 -26%	(49) N/A	(39) +21%	(54) -40%	(49) +10%	20 N/A	(10) N/A	60 N/A	59 -1%	64 +9%	94 +46%	61 -35%	(80) N/A	768 N/A	22 -97%	10 -53%	185 +1 715%	(762) N/A	(31) +96%	(18) +43%	(45) -151%	48 N/A	35 -27%	32 -10%	(0) N/A	(42) -13 972%	(8) +80%	(33) -289%	(38) -16%	(8) +79%	(16) -103%	(21) -29%	(29) -38%	0 N/A	(27) N/A	(17) +37%	(12) +28%	(34) -179%	(19) +44%	(11) +44%	(3) +69%	9 N/A	(5) N/A	2 N/A	1 -14%	(13) N/A	28 N/A	69 +145%	80 +16%	81 +1%	162 +100%	97 -40%	106 +9%	114 +8%	31 -73%	21 -30%	7 -65%	(47) N/A	(68) -45%	(47) +32%	(57) -21%	(14) +76%
Free Cash Flow
Free Cash Flow	(2) N/A	14 N/A	20 +42%	21 +1%	21 +1%	23 +9%	13 -43%	16 +24%	21 +28%	28 +34%	35 +25%	25 -29%	22 -10%	4 -82%	1 -74%	3 +200%	2 -42%	7 +259%	8 +19%	17 +114%	26 +55%	36 +35%	39 +10%	50 +28%	61 +22%	58 -5%	67 +14%	61 -8%	39 -36%	54 +39%	51 -7%	56 +9%	64 +16%	51 -21%	52 +3%	57 +8%	115 +102%	130 +14%	155 +19%	181 +17%	142 -22%	179 +26%	163 -9%	134 -18%	138 +3%	120 -13%	105 -13%	92 -12%	(23) N/A	(45) -98%	35 N/A	46 +33%	137 +195%	198 +45%	155 -21%	191 +23%	174 -9%	161 -8%	169 +5%	147 -13%	188 +27%	158 -16%	107 -32%	136 +27%	74 -45%	55 -25%	50 -10%	77 +54%	71 -8%	74 +5%	108 +46%	3 -97%	12 +276%	157 +1 239%	271 +72%	345 +27%	450 +31%	376 -16%	319 -15%	430 +35%	433 +1%	468 +8%	551 +18%	422 -23%	419 -1%	384 -8%	343 -11%	344 +0%	437 +27%	391 -10%	468 +20%	507 +8%	523 +3%	549 +5%	476 -13%	679 +43%

Income Statement Balance Sheet Cash Flow Statement

Darling Ingredients Inc
NYSE:DAR

Cash Flow Statement

Cash Flow Statement
Darling Ingredients Inc

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Darling Ingredients Inc NYSE:DAR

Cash Flow Statement

Cash Flow Statement Darling Ingredients Inc

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Darling Ingredients Inc
NYSE:DAR

Cash Flow Statement
Darling Ingredients Inc