Workday Inc

For the period ended Jan 31, 2025. Filed Mar 11, 2025.

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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 Mar 11, 2025

WDAY$188.89-0.7%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in millions)

	Year Ended January 31,
	2025	2024	2023
Cash flows from operating activities:
Net income (loss)	$526	$1,381	$(367)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	326	282	364
Share-based compensation expense	1,519	1,416	1,295
Amortization of deferred costs	251	213	175
Non-cash lease expense	103	96	92
Losses on investments, net	16	19	31
Accretion of discounts on marketable debt securities, net	(113)	(149)	(42)
Deferred income taxes	33	(1,058)	4
Other	18	(17)	57
Changes in operating assets and liabilities, net of business combinations:
Trade and other receivables, net	(313)	(87)	(319)
Deferred costs	(337)	(342)	(293)
Prepaid expenses and other assets	50	69	(14)
Accounts payable	25	(72)	86
Accrued expenses and other liabilities	(41)	(95)	136
Unearned revenue	398	493	452
Net cash provided by operating activities	2,461	2,149	1,657
Cash flows from investing activities:
Purchases of marketable securities	(4,786)	(6,150)	(7,183)
Maturities of marketable securities	3,846	4,519	4,949
Sales of marketable securities	273	144	104
Capital expenditures	(269)	(232)	(364)
Business combinations, net of cash acquired	(825)	(8)	0
Purchase of other intangible assets	(3)	(10)	(1)
Purchases of non-marketable equity and other investments	(22)	(16)	(23)
Sales and maturities of non-marketable equity and other investments	5	2	12
Net cash used in investing activities	(1,781)	(1,751)	(2,506)
Cash flows from financing activities:
Proceeds from issuance of debt, net of debt discount	0	0	2,978
Repayments and extinguishment of debt	0	0	(1,844)
Payments for debt issuance costs	0	0	(7)
Repurchases of common stock	(700)	(423)	(75)
Proceeds from issuance of common stock from employee equity plans	186	177	152
Taxes paid related to net share settlement of equity awards	(636)	(22)	0
Net cash provided by (used in) financing activities	(1,150)	(268)	1,204
Effect of exchange rate changes	0	(1)	(1)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(470)	129	354
Cash, cash equivalents, and restricted cash at the beginning of period	2,024	1,895	1,541
Cash, cash equivalents, and restricted cash at the end of period	$1,554	$2,024	$1,895

	Year Ended January 31,
	2025	2024	2023
Supplemental cash flow data:
Cash paid for interest	$110	$110	$60
Cash paid for income taxes, net of refunds	65	39	89
Non-cash investing and financing activities:
Purchases of property and equipment, accrued but not paid	27	52	51
Accrued taxes related to net share settlement of equity awards	13	0	0

	As of January 31,
	2025	2024	2023
Reconciliation of cash, cash equivalents, and restricted cash as shown in the Consolidated Statements of Cash Flows:
Cash and cash equivalents	$1,543	$2,012	$1,886
Restricted cash included in Prepaid expenses and other current assets	11	12	9
Total cash, cash equivalents, and restricted cash	$1,554	$2,024	$1,895

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