Operating

Amcor·Cash Flow Statement·28 metrics

Breakdown

Metric	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26	Q3 '26
Depreciation and amortization	$147M	$141M	$126M	$132M	$323M	$364M	$373M	$377M
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital	—	$631M	—	$301M	—	$718M	$43M	$340M
Net income	$261M	$193M	$167M	$197M	$0	$262M	$177M	$278M
Net cash from operating activities	$943M	-$269M	$428M	$117M	$1.1B	-$133M	$503M	$186M
Other working capital changes	$1M	-$12M	-$8M	-$77M	$125M	$17M	-$27M	$145M
Other Noncash Income (Expense)	$19M	-$12M	-$8M	-$77M	—	$17M	-$27M	$145M
Deferred income taxes	-$20M	-$2M	-$25M	-$22M	-$76M	-$44M	-$80M	-$21M
Stock-based compensation	$12M	$5M	$13M	$12M	$44M	$10M	$22M	$21M
Amortization	$2M	$3M	$4M	$17M	$12M	$16M	$17M	$7M
Pension Expense	$2M	$4M	$5M	$3M	$20M	$4M	$6M	$7M
Foreign currency remeasurement (loss) gain on debt	-$3M	$2M	-$2M	-$1M	-$8M	-$3M	—	$2M
Gain on sale of business and assets	$0	$2M	$2M	$2M	$2M	—	—	-$2M
Loss from highly inflationary accounting for Argentine subsidiaries	$4M	$8M	$9M	$4M	$6M	$13M	$8M	$1M
Change in accounts payable	-$10.8M	$55M	$55M	$55M	$55M	—	—	—
Change in accounts receivable	$10.8M	$57M	$57M	$57M	$57M	—	—	—
Change in inventories	-$23.8M	$0	$0	$0	$0	—	—	—
Change in other current assets	$1.3M	$14.3M	$14.3M	$14.3M	$14.3M	—	—	—
Change in other liabilities	-$18.5M	$3.8M	$3.8M	$3.8M	$3.8M	—	—	—
Net gains (losses) on investments	-$1M	$0	$1M	$0	$2M	$2M	$2M	$0
Gain (loss) on sale of assets	$10M	$0	$0	$3M	$4M	$24M	$1M	—
Inventory step-up amortization	$0	$33.3M	$33.3M	$33.3M	$33.3M	—	—	—
Gain/(loss) on dispositions, net	$10M	$0	$0	$3M	$4M	$24M	$1M	—
Equity in earnings (losses) of equity method investees	-$1M	$0	$1M	$0	$2M	$2M	$2M	$0
Increase (Decrease) in Other Current Assets	$1.3M	$14.3M	$14.3M	$14.3M	$14.3M	—	—	—
Current liabilities	-$18.5M	$3.8M	$3.8M	$3.8M	$3.8M	—	—	—
Increase (Decrease) in Other Employee-Related Liabilities	$2M	$11.8M	$11.8M	$11.8M	$11.8M	—	—	—
Pension and other postretirement plans	-$9.8M	-$11.8M	-$11.8M	-$11.8M	-$11.8M	—	—	—
Pension and postretirement benefit expense	-$9.8M	-$11.8M	-$11.8M	-$11.8M	-$11.8M	—	—	—