Cash Flow Statement

Operating Cash Flow

+24%

+19%

10Y

Currency: CAD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-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	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-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	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Operating Cash Flow
Net Income	101	120	135	141	151	161	166	172	175	172	185	196	204	216	220	224	184	163	144	131	179	206	236	264	270	289	299	307	315	309	316	347	352	361	363	378	415	453	438	418	405	369	132	47	56	147	456	623	740	787	859	906	926	958	978	979	1 011	1 027	1 069	1 107	1 098	1 101	1 035	1 045	1 045	1 056	1 141	1 168	1 212	1 233	1 263	1 242	1 238	1 190	1 118	1 171	1 198	1 275	1 369	1 393	1 424	1 450	1 466	1 481	1 529	1 579	1 631	1 639	1 646	1 671	1 693	1 741	1 744	1 713	1 658	1 662
Depreciation & Amortization	102	102	77	48	83	91	119	159	214	224	159	58	184	187	181	168	119	158	168	196	165	142	173	177	157	172	163	169	174	182	185	184	184	181	195	108	145	178	223	221	216	218	231	295	345	397	436	432	450	454	444	440	430	424	424	420	413	409	400	388	380	375	377	381	385	391	393	395	396	397	392	429	462	510	566	559	553	529	504	496	490	481	467	481	493	503	507	516	534	540	537	545	544	585	614	622
Change in Deffered Taxes	49	45	36	42	45	40	46	48	24	42	56	65	76	54	36	20	0	7	(34)	(33)	(22)	(4)	11	(6)	(12)	(34)	(23)	(1)	11	26	29	(4)	(23)	(41)	(21)	10	31	10	(22)	(25)	(28)	(7)	(22)	(47)	(52)	(45)	35	52	52	94	54	72	73	71	62	80	76	76	97	94	102	84	61	(23)	(35)	(55)	(41)	17	18	18	(8)	(12)	(12)	(13)	6	(1)	(25)	(24)	(26)	(30)	6	7	(7)	(22)	(63)	(95)	(109)	(101)	(107)	(106)	(146)	(129)	(102)	(67)	1	21
Stock-Based Compensation	0	0	0	0	0	0	8	0	0	0	26	0	0	0	21	0	0	0	13	3	7	11	14	13	9	7	5	6	6	7	9	9	12	14	16	18	16	16	17	14	13	10	13	17	23	29	31	34	33	30	32	33	32	32	30	33	31	33	38	35	39	40	34	37	39	39	38	36	36	36	39	43	39	39	37	36	41	44	46	49	47	47	49	50	57	58	58	61	57	63	68	73	76	71	69	62
Other Non-Cash Items	(37)	(52)	(24)	(18)	(10)	8	14	(5)	20	22	46	52	43	49	56	50	30	23	40	52	54	72	44	38	49	34	29	33	33	32	43	40	43	46	39	33	21	10	(2)	(8)	(6)	(1)	89	101	121	139	26	30	18	9	50	48	46	37	28	33	29	33	36	32	38	38	31	36	37	41	39	46	42	36	43	31	35	34	31	29	36	51	54	59	48	39	51	41	51	57	67	69	68	69	57	58	58	69	80	81
Cash Taxes Paid	30	44	52	72	74	76	67	74	66	65	143	140	147	141	67	58	64	73	61	52	44	32	38	81	98	123	140	131	118	89	63	40	56	78	105	154	135	135	135	87	114	108	144	142	139	150	132	134	163	172	183	195	238	269	289	289	291	286	246	249	223	223	244	246	272	264	262	281	278	324	387	388	415	376	391	389	392	415	383	368	371	407	436	460	450	461	481	537	645	696	740	723	641	655	603	594
Cash Interest Paid	3	2	2	2	4	7	9	14	15	17	22	22	25	21	18	14	24	30	40	49	44	43	38	33	27	25	27	25	26	24	17	16	12	12	13	16	18	20	18	18	14	26	35	65	72	99	105	106	115	107	103	89	95	80	89	85	84	83	82	81	81	78	78	78	77	79	82	87	93	95	102	108	125	150	181	180	176	139	132	122	113	118	115	107	96	84	131	142	157	168	102	91	85	98	129	132
Change in Working Capital	(41)	(73)	(46)	(67)	(142)	(123)	(109)	(74)	23	(57)	(211)	(238)	(274)	(150)	(11)	(19)	56	(10)	(9)	96	81	67	84	30	(48)	(70)	(114)	(194)	(76)	(27)	58	150	98	39	(23)	(141)	(127)	(148)	(68)	15	(55)	112	183	292	262	(23)	(282)	(624)	(543)	(414)	(233)	(18)	(94)	(241)	(202)	(233)	(284)	(162)	(268)	(265)	(148)	(190)	(146)	(20)	46	72	(38)	(151)	(156)	(113)	(56)	18	(81)	131	218	312	485	250	215	84	(66)	(74)	(111)	5	(27)	(71)	16	(38)	(25)	31	65	59	(33)	(100)	(119)	74
Cash from Operating Activities	174 N/A	142 -18%	177 +25%	180 +1%	128 -29%	178 +39%	236 +33%	300 +27%	399 +33%	347 -13%	234 -32%	244 +4%	232 -5%	357 +54%	482 +35%	441 -8%	460 +4%	376 -18%	309 -18%	412 +33%	458 +11%	483 +6%	548 +13%	502 -8%	418 -17%	391 -6%	355 -9%	314 -11%	457 +45%	522 +14%	630 +21%	717 +14%	654 -9%	586 -10%	552 -6%	484 -12%	552 +14%	542 -2%	570 +5%	621 +9%	533 -14%	691 +30%	613 -11%	689 +12%	732 +6%	614 -16%	671 +9%	513 -24%	717 +40%	929 +30%	1 175 +26%	1 448 +23%	1 382 -5%	1 250 -10%	1 289 +3%	1 278 -1%	1 245 -3%	1 383 +11%	1 333 -4%	1 355 +2%	1 469 +8%	1 408 -4%	1 359 -4%	1 419 +4%	1 478 +4%	1 505 +2%	1 493 -1%	1 475 -1%	1 511 +2%	1 569 +4%	1 634 +4%	1 708 +5%	1 642 -4%	1 852 +13%	1 939 +5%	2 071 +7%	2 247 +9%	2 081 -7%	2 116 +2%	2 003 -5%	1 903 -5%	1 903 +0%	1 865 -2%	1 986 +6%	1 982 0%	1 972 -1%	2 112 +7%	2 084 -1%	2 117 +2%	2 205 +4%	2 205 +0%	2 274 +3%	2 210 -3%	2 200 0%	2 234 +2%	2 460 +10%
Investing Cash Flow
Capital Expenditures	(129)	(160)	(180)	(179)	(219)	(189)	(240)	(242)	(243)	(259)	(221)	(193)	(173)	(153)	(141)	(143)	(127)	(114)	(147)	(144)	(145)	(159)	(139)	(139)	(147)	(141)	(122)	(118)	(117)	(125)	(132)	(131)	(135)	(120)	(117)	(126)	(129)	(131)	(92)	(114)	(105)	(136)	(108)	(129)	(202)	(187)	(213)	(229)	(191)	(225)	(259)	(255)	(232)	(198)	(273)	(283)	(343)	(402)	(370)	(378)	(361)	(340)	(315)	(305)	(313)	(321)	(326)	(336)	(328)	(327)	(328)	(314)	(321)	(316)	(315)	(305)	(300)	(305)	(301)	(329)	(334)	(351)	(378)	(387)	(405)	(405)	(409)	(401)	(396)	(386)	(361)	(358)	(356)	(370)	(368)	(372)
Other Items	(39)	(9)	(36)	(40)	(263)	(233)	(223)	(205)	22	(497)	(480)	(518)	(476)	74	35	61	22	(33)	8	8	(7)	(1)	(15)	(17)	(7)	12	28	30	32	31	4	(7)	(12)	(11)	(908)	(898)	(904)	(898)	(39)	(9)	26	20	(2 741)	(2 754)	(2 766)	(2 786)	(20)	(30)	(65)	(57)	(62)	(44)	(39)	(46)	16	5	13	41	(13)	(156)	(149)	(256)	(278)	(327)	(334)	(277)	(251)	(73)	(129)	(606)	(623)	(730)	(807)	(283)	(257)	(149)	(10)	(80)	(97)	(193)	(228)	(572)	(534)	(510)	(466)	(133)	(153)	(119)	(112)	83	(415)	(382)	(1 952)	(2 074)	(1 832)	(1 913)
Cash from Investing Activities	(169) N/A	(169) 0%	(216) -28%	(219) -1%	(483) -121%	(422) +13%	(464) -10%	(447) +4%	(221) +51%	(756) -242%	(701) +7%	(711) -1%	(649) +9%	(79) +88%	(106) -35%	(82) +23%	(105) -27%	(147) -40%	(139) +5%	(135) +3%	(152) -12%	(160) -5%	(154) +4%	(156) -2%	(154) +2%	(129) +16%	(94) +27%	(89) +5%	(85) +4%	(94) -10%	(128) -36%	(137) -7%	(147) -7%	(131) +11%	(1 025) -684%	(1 023) +0%	(1 033) -1%	(1 030) +0%	(131) +87%	(123) +6%	(79) +36%	(116) -47%	(2 849) -2 352%	(2 883) -1%	(2 968) -3%	(2 972) 0%	(234) +92%	(259) -11%	(256) +2%	(282) -10%	(321) -14%	(299) +7%	(271) +9%	(244) +10%	(257) -5%	(278) -8%	(330) -19%	(361) -9%	(383) -6%	(534) -40%	(509) +5%	(595) -17%	(592) +1%	(632) -7%	(647) -2%	(599) +7%	(577) +4%	(410) +29%	(457) -12%	(933) -104%	(951) -2%	(1 044) -10%	(1 128) -8%	(599) +47%	(573) +4%	(454) +21%	(309) +32%	(385) -25%	(398) -3%	(522) -31%	(562) -8%	(923) -64%	(912) +1%	(897) +2%	(871) +3%	(538) +38%	(562) -5%	(520) +7%	(509) +2%	(303) +40%	(775) -156%	(741) +4%	(2 307) -211%	(2 444) -6%	(2 201) +10%	(2 285) -4%
Financing Cash Flow
Net Issuance of Common Stock	183	183	126	5	4	8	7	(16)	(15)	309	331	331	281	(73)	(105)	(111)	(897)	(847)	(868)	(883)	(61)	(88)	(86)	(78)	(124)	(203)	(184)	(172)	(112)	(58)	(86)	(211)	(320)	(397)	(464)	(406)	(384)	(328)	(256)	(251)	(184)	(139)	931	994	1 025	1 028	9	(93)	(110)	(89)	(69)	44	69	(42)	(281)	(289)	(808)	(697)	(460)	(739)	(515)	(622)	(1 197)	(920)	(848)	(1 096)	(742)	(1 105)	(1 046)	(1 213)	(1 097)	(753)	(1 649)	(1 142)	(1 042)	(1 475)	(1 169)	(1 472)	(1 473)	(1 346)	(1 004)	(811)	(942)	(670)	(652)	(583)	(774)	(887)	(749)	(1 206)	(925)	(909)	(994)	(775)	(1 226)	(1 657)
Net Issuance of Debt	(54)	(79)	(33)	(27)	254	239	199	162	(51)	201	253	265	108	(223)	(224)	(207)	603	567	574	483	(356)	(295)	(331)	(293)	(146)	(89)	(116)	32	(195)	(185)	(131)	(227)	89	87	732	694	527	455	(234)	(252)	(266)	(370)	1 354	1 284	1 284	1 371	(455)	(99)	(349)	(529)	(308)	(826)	(970)	(712)	(902)	(614)	(143)	(287)	(183)	(300)	(338)	(192)	10	67	17	69	(136)	207	287	669	469	(34)	914	1 041	1 163	1 311	344	(238)	(173)	(547)	(557)	(589)	(669)	(315)	(320)	(295)	(296)	(908)	(913)	(911)	(717)	(52)	882	876	699	679
Cash Paid for Dividends	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	0	0	0	0	0	0	0	(34)	(68)	(102)	(135)	(138)
Other	(6)	(6)	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	18	18	18	17	(1)	(1)	(1)	0	(1)	(2)	(2)	0	(1)	0	0	0	0	0	0	1	1	1	(36)	(81)	(136)	(136)	(122)	(79)	(47)	(47)	(24)	(20)	4	4	4	1	1	1	(2)	(4)	(4)	(4)	(1)	(22)	(22)	(22)	(27)	(4)	(4)	(4)	(7)	39	0	0	20	59	111	75	(122)	(34)	(175)	(125)	34	316	(10)	401	416	(195)
Cash from Financing Activities	124 N/A	98 -20%	93 -6%	(22) N/A	258 N/A	247 -4%	206 -17%	146 -29%	(66) N/A	510 N/A	584 +14%	597 +2%	389 -35%	(296) N/A	(329) -11%	(318) +3%	(294) +8%	(280) +5%	(294) -5%	(400) -36%	(417) -4%	(383) +8%	(417) -9%	(371) +11%	(270) +27%	(291) -8%	(300) -3%	(140) +53%	(289) -106%	(224) +22%	(198) +12%	(421) -112%	(231) +45%	(310) -34%	267 N/A	289 +8%	142 -51%	125 -12%	(492) N/A	(506) -3%	(450) +11%	(509) -13%	2 286 N/A	2 278 0%	2 310 +1%	2 399 +4%	(446) N/A	(190) +57%	(458) -141%	(617) -35%	(414) +33%	(862) -108%	(1 038) -20%	(891) +14%	(1 304) -46%	(982) +25%	(998) -2%	(1 031) -3%	(666) +35%	(1 059) -59%	(849) +20%	(811) +5%	(1 183) -46%	(853) +28%	(830) +3%	(1 027) -24%	(879) +14%	(902) -3%	(764) +15%	(547) +28%	(629) -15%	(808) -28%	(756) +6%	(123) +84%	94 N/A	(168) N/A	(828) -394%	(1 714) -107%	(1 653) +4%	(1 854) -12%	(1 568) +15%	(1 407) +10%	(1 591) -13%	(972) +39%	(861) +11%	(803) +7%	(1 192) -48%	(1 829) -53%	(1 837) 0%	(2 243) -22%	(1 608) +28%	(680) +58%	(190) +72%	401 N/A	(247) N/A	(1 310) -431%
Change in Cash
Effect of Foreign Exchange Rates	(4)	(2)	4	3	1	0	1	0	3	4	0	3	(1)	(1)	(6)	(8)	(6)	(7)	(0)	8	7	2	(4)	(14)	(6)	(0)	0	23	21	1	(11)	(38)	(55)	(23)	(10)	(4)	8	(5)	5	2	4	3	3	5	16	22	2	(5)	(24)	(39)	(10)	(3)	17	18	41	44	28	28	7	(0)	2	17	(14)	(9)	4	(12)	(19)	4	(34)	(35)	(24)	(49)	0	11	34	12	(72)	(80)	(74)	(71)	(56)	(60)	(47)	6	61	38	9	(37)	(27)	24	35	108	94	85	87	16
Net Change in Cash	124 N/A	69 -44%	58 -16%	(59) N/A	(96) -63%	4 N/A	(21) N/A	(1) +93%	115 N/A	104 -10%	117 +12%	134 +14%	(29) N/A	(19) +36%	40 N/A	33 -16%	55 +65%	(57) N/A	(125) -117%	(117) +7%	(104) +10%	(58) +44%	(27) +54%	(39) -46%	(12) +70%	(29) -147%	(39) -33%	109 N/A	104 -4%	204 +96%	293 +44%	121 -59%	222 +83%	123 -45%	(216) N/A	(255) -18%	(331) -30%	(367) -11%	(48) +87%	(6) +88%	7 N/A	69 +918%	53 -24%	90 +71%	90 +1%	63 -31%	(7) N/A	59 N/A	(21) N/A	(9) +59%	429 N/A	283 -34%	90 -68%	133 +48%	(231) N/A	63 N/A	(55) N/A	19 N/A	291 +1 425%	(239) N/A	113 N/A	19 -83%	(431) N/A	(75) +83%	5 N/A	(132) N/A	18 N/A	167 +814%	257 +53%	54 -79%	30 -45%	(193) N/A	(242) -25%	1 140 N/A	1 494 +31%	1 462 -2%	1 037 -29%	(98) N/A	(9) +91%	(444) -4 962%	(284) +36%	(487) -72%	(685) -40%	123 N/A	311 +154%	670 +115%	367 -45%	(302) N/A	(256) +15%	(317) -24%	(143) +55%	961 N/A	(193) N/A	242 N/A	(126) N/A	(1 120) -789%
Free Cash Flow
Free Cash Flow	44 N/A	(19) N/A	(3) +86%	1 N/A	(91) N/A	(11) +88%	(4) +63%	58 N/A	156 +169%	88 -44%	14 -85%	52 +281%	59 +15%	204 +245%	341 +67%	299 -12%	333 +12%	263 -21%	162 -38%	268 +66%	312 +17%	324 +4%	409 +26%	363 -11%	271 -25%	250 -8%	233 -7%	196 -16%	340 +73%	397 +17%	499 +26%	586 +17%	520 -11%	466 -10%	435 -7%	359 -18%	423 +18%	411 -3%	478 +16%	507 +6%	427 -16%	555 +30%	505 -9%	560 +11%	531 -5%	428 -19%	458 +7%	284 -38%	526 +85%	705 +34%	916 +30%	1 193 +30%	1 149 -4%	1 052 -8%	1 017 -3%	995 -2%	903 -9%	981 +9%	964 -2%	977 +1%	1 109 +14%	1 069 -4%	1 044 -2%	1 114 +7%	1 165 +5%	1 184 +2%	1 167 -1%	1 139 -2%	1 184 +4%	1 242 +5%	1 306 +5%	1 394 +7%	1 322 -5%	1 536 +16%	1 623 +6%	1 766 +9%	1 947 +10%	1 776 -9%	1 815 +2%	1 674 -8%	1 569 -6%	1 552 -1%	1 487 -4%	1 599 +8%	1 577 -1%	1 567 -1%	1 703 +9%	1 683 -1%	1 721 +2%	1 819 +6%	1 844 +1%	1 916 +4%	1 855 -3%	1 831 -1%	1 866 +2%	2 088 +12%

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CGI Inc
TSX:GIB.A

Cash Flow Statement

Cash Flow Statement
CGI Inc

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CGI Inc TSX:GIB.A

Cash Flow Statement

Cash Flow Statement CGI Inc

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CGI Inc
TSX:GIB.A

Cash Flow Statement
CGI Inc