SEABOARD CORP /DE/

For the period ended Dec 31, 2025. Filed Feb 12, 2026.

About this filing

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 12, 2026

SEB$3,765.00-0.5%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows


	Years ended December 31,
(Millions of dollars)	2025		2024		2023
Operating activities:
Net earnings		$501		$90	$227
Adjustments to reconcile net earnings to cash from operating activities:
Depreciation and amortization		318		311	283
Deferred income taxes		(76)		130	(154)
Income from affiliates		(138)		(85)	(105)
Investment gains, net		(39)		(19)	(85)
Dividends received from affiliates		91		64	117
Other, net		11		40	7
Changes in assets and liabilities:
Receivables, net of allowance		26		(46)	176
Inventories		(93)		61	200
Other assets		13		(12)	3
Accounts payable		(42)		(5)	(32)
Other liabilities, exclusive of debt		(4)		(10)	73
Net cash from operating activities		568		519	710
Investing activities:
Purchase of short-term investments		(2,851)		(1,366)	(2,519)
Proceeds from sale and maturity of short-term investments		2,912		1,368	2,746
Capital expenditures		(562)		(511)	(506)
Proceeds from sale of property, plant and equipment		35		34	34
Purchase of long-term investments		(80)		(13)	(16)
Other, net		3		4	(12)
Net cash used in investing activities		(543)		(484)	(273)
Financing activities:
Uncommitted lines of credit, net		133		(10)	(172)
Draws under committed line of credit		818		1,440	1,173
Repayments of committed line of credit		(809)		(1,370)	(1,199)
Proceeds from long-term debt		—		—	310
Principal payments of long-term debt		(11)		(10)	(8)
Proceeds from payable to affiliate		—		29	—
Finance lease payments		(38)		(49)	(57)
Repurchase of common stock (includes $600 from affiliates)		(39)		(8)	(600)
Dividends paid		(9)		(9)	(10)
Other, net		(1)		(1)	(18)
Net cash from (used in) financing activities		44		12	(581)
Effect of exchange rate changes on cash and cash equivalents		11		(5)	1
Net change in cash and cash equivalents		80		42	(143)
Cash and cash equivalents at beginning of year		98		56	199
Cash and cash equivalents at end of year		$178		$98	$56
Supplemental cash flow information
Amounts paid during the year for:
Interest, net of interest capitalized		$75		$57	$56
Income taxes, net of tax credit sales proceeds of $81, $28, $0 and refunds		(6)		40	47
Non-cash additions to property, plant and equipment		18		25	4
See accompanying notes to consolidated financial statements.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.