Fortune Brands Innovations, Inc.
For the period ended Dec 27, 2025. Filed Feb 23, 2026.
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FY2025 · Filed Feb 23, 2026
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Item 8. Consolidated Statements of Cash Flows
| Consolidated Statements of Cash Flows | Fortune Brands Innovations, Inc. and Subsidiaries |
|---|
| For years ended | |||
|---|---|---|---|
| (In millions) | December 27, 2025 | December 28, 2024 | December 30, 2023 |
| OPERATING ACTIVITIES | |||
| Net income | $298.8 | $471.9 | $404.5 |
| Non-cash expense (income): | |||
| Depreciation | 118.9 | 120.5 | 106.7 |
| Amortization of intangibles | 75.5 | 73.1 | 62.1 |
| Non-cash lease expense | 51.6 | 38.6 | 35.1 |
| Stock-based compensation | 20.8 | 39.3 | 34.2 |
| Asset impairment charges | 53.6 | — | 33.5 |
| Recognition of actuarial loss (gain) | — | 18.3 | (0.5) |
| Deferred taxes | 32.3 | 0.2 | (26.1) |
| Other operating activities, net | 0.4 | (2.7) | 3.1 |
| Changes in assets and liabilities including effects subsequent to acquisitions | |||
| Decrease in accounts receivable | 5.6 | 6.3 | 25.7 |
| (Increase) decrease in inventories | (55.4) | 16.6 | 148.8 |
| (Decrease) increase in accounts payable | 9.5 | (29.3) | 101.1 |
| (Increase) decrease in other assets | (17.6) | (9.3) | 170.0 |
| (Decrease) in accrued taxes | (7.3) | (10.5) | (17.4) |
| (Decrease) in accrued expenses and other liabilities | (108.1) | (65.2) | (25.0) |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 478.6 | 667.8 | 1,055.8 |
| INVESTING ACTIVITIES | |||
| Capital expenditures(a) | (111.8) | (193.3) | (256.5) |
| Proceeds from the disposition of assets | 6.9 | 26.9 | 2.8 |
| Cost of acquisitions, net of cash acquired | — | (135.4) | (784.1) |
| Other investing activities, net | — | (1.1) | — |
| NET CASH USED IN INVESTING ACTIVITIES | (104.9) | (302.9) | (1,037.8) |
| FINANCING ACTIVITIES | |||
| Repayment of short-term debt | (500.0) | — | (600.0) |
| Issuance of long-term debt | 1,919.5 | 915.0 | 1,065.1 |
| Repayment of long-term debt | (1,549.5) | (915.0) | (470.0) |
| Proceeds from the exercise of stock options | 4.5 | 15.5 | 18.0 |
| Employee withholding taxes paid related to stock-based compensation | (8.3) | (14.4) | (14.5) |
| Dividends to stockholders | (120.6) | (119.6) | (116.8) |
| Treasury stock purchases | (247.8) | (240.4) | (150.0) |
| Other financing activities, net | (1.1) | (4.5) | (3.1) |
| NET CASH (USED IN) FINANCING ACTIVITIES | (503.3) | (363.4) | (271.3) |
| Effect of foreign exchange rate changes on cash | 11.5 | (11.5) | 0.5 |
| NET (DECREASE0) IN CASH AND CASH EQUIVALENTS | $(118.1) | $(10.0) | $(252.8) |
| Cash, cash equivalents and restricted cash(b) at beginning of year | $385.5 | $395.5 | $648.3 |
| Cash, cash equivalents and restricted cash(b) at end of year | $267.4 | $385.5 | $395.5 |
| Cash paid during the year for | |||
| Interest | $122.8 | $126.6 | $121.4 |
| Income taxes paid directly to taxing authorities | 79.0 | 152.3 | 120.3 |
| Dividends declared but not paid | 31.2 | 30.9 | 30.3 |
(a)
Capital expenditures of $5.5 million, $9.4 million and $34.1 million that have not been paid as of December 27, 2025, December 28, 2024 and December 30, 2023, respectively, were excluded from the Consolidated Statement of Cash Flows.
(b)
Restricted cash of $1.4 million and $2.0 million is included in Other current assets and Other assets, respectively, as of December 27, 2025, $1.3 million and $3.1 million is included in Other current assets and Other assets, respectively, as of December 28, 2024 and $26.9 million and $2.2 million is included in Other current assets and Other assets, respectively, as of December 30, 2023 within our Consolidated Balance Sheets.
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