CHEMED CORP
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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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 Feb 27, 2026
CHE$544.49+1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
|---|---|---|---|
| Chemed Corporation and Subsidiary Companies | |||
| (in thousands) | |||
| For the Years Ended December 31, | 2025 | 2024 | 2023 |
| Cash Flows from Operating Activities | |||
| Net income | $265,238 | $301,999 | $272,509 |
| Adjustments to reconcile net income to net cash provided by operations: | |||
| Depreciation and amortization | 64,841 | 63,049 | 60,865 |
| Stock option expense | 32,671 | 32,033 | 30,082 |
| Benefit for deferred income taxes | (5,944) | (4,138) | (8,027) |
| Noncash portion of long-term incentive compensation | 4,886 | 18,794 | 9,267 |
| Litigation settlements | 1,425 | (5,750) | 2,050 |
| Noncash directors' compensation | 1,123 | 1,282 | 1,444 |
| Amortization of debt issuance costs | 321 | 321 | 580 |
| Changes in operating assets and liabilities: | |||
| (Increase)/decrease in accounts receivable | (11,596) | 10,678 | (41,488) |
| Decrease/(increase) in inventories | 650 | 3,831 | (1,732) |
| (Increase)/decrease in prepaid expenses | (844) | 4,237 | 87 |
| Decrease in accounts payable and other current liabilities | (5,194) | (9,279) | (9,348) |
| Change in current income taxes | (6,217) | 2,182 | 11,748 |
| Net change in lease assets and liabilities | (806) | (674) | (1,424) |
| Decrease/(increase) in other assets | 36,835 | (25,591) | (9,952) |
| Increase in other liabilities | 10,424 | 22,749 | 12,802 |
| Other sources | 459 | 1,774 | 836 |
| Net cash provided by operating activities | 388,272 | 417,497 | 330,299 |
| Cash Flows from Investing Activities | |||
| Capital expenditures | (62,795) | (49,531) | (56,854) |
| Proceeds from sale of fixed assets | 4,568 | 3,315 | 640 |
| Business combinations, net of cash acquired | (225) | (97,400) | (3,994) |
| Other uses | (888) | (295) | (434) |
| Net cash used by investing activities | (59,340) | (143,911) | (60,642) |
| Cash Flows from Financing Activities | |||
| Purchases of treasury stock | (431,500) | (361,389) | (67,697) |
| Dividends paid | (31,695) | (27,092) | (23,502) |
| Proceeds from exercise of stock options | 27,152 | 56,517 | 102,192 |
| Change in cash overdraft payable | 10,970 | (15,749) | 15,749 |
| Capital stock surrendered to pay taxes on stock-based compensation | (8,819) | (9,457) | (9,557) |
| Payments on other long-term debt | - | - | (97,500) |
| Other sources/(uses) | 1,125 | (2,024) | 490 |
| Net cash used by financing activities | (432,767) | (359,194) | (79,825) |
| (Decrease)/increase in cash and cash equivalents | (103,835) | (85,608) | 189,832 |
| Cash and cash equivalents at beginning of year | 178,350 | 263,958 | 74,126 |
| Cash and cash equivalents at end of year | $74,515 | $178,350 | $263,958 |
| The Notes to Consolidated Financial Statements are integral parts of these statements. | |||
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