Murphy USA Inc.
For the period ended Dec 31, 2025. Filed Feb 18, 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 18, 2026
MUSA$519.44+1.9%Stored close · as of Nov 10, 2026
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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 income | $470.6 | $502.5 | $556.8 |
| Adjustments to reconcile net income to net cash provided (required) by operating activities | |||
| Depreciation and amortization | 276.8 | 248.0 | 228.7 |
| Impairment of properties | 5.3 | 8.2 | — |
| Deferred and noncurrent income tax charges (benefits) | 45.1 | 14.0 | 2.0 |
| Restructuring expense, net of cash paid | 5.6 | — | — |
| Accretion of asset retirement obligations | 3.4 | 3.2 | 3.0 |
| Amortization of discount on marketable securities | — | (0.2) | (0.4) |
| (Gains) losses from sale of assets | 2.8 | 4.5 | 0.8 |
| Net (increases) decrease in noncash operating working capital | (33.1) | 32.8 | (42.1) |
| Other operating activities - net | 37.4 | 34.6 | 35.2 |
| Net cash provided (required) by operating activities | 813.9 | 847.6 | 784.0 |
| Investing Activities | |||
| Property additions | (439.6) | (458.1) | (335.6) |
| Proceeds from sale of assets | 2.4 | 2.0 | 2.4 |
| Investment in marketable securities | — | — | (12.8) |
| Redemptions of marketable securities | — | 11.5 | 24.0 |
| Other investing activities - net | 1.2 | (1.2) | (1.6) |
| Net cash provided (required) by investing activities | (436.0) | (445.8) | (323.6) |
| Financing Activities | |||
| Purchase of treasury stock | (649.9) | (445.7) | (333.2) |
| Dividends paid | (41.5) | (36.8) | (33.4) |
| Borrowings of debt | 2,982.3 | 707.0 | 8.0 |
| Repayments of debt | (2,654.4) | (666.7) | (23.4) |
| Debt issuance costs | (9.0) | — | — |
| Amounts related to share-based compensation | (23.5) | (30.4) | (21.1) |
| Net cash provided (required) by financing activities | (396.0) | (472.6) | (403.1) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (18.1) | (70.8) | 57.3 |
| Cash, cash equivalents and restricted cash at January 1 | 47.0 | 117.8 | 60.5 |
| Cash, cash equivalents and restricted cash at December 31 | $28.9 | $47.0 | $117.8 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.