RYDER SYSTEM INC
For the period ended Sep 30, 2025. Filed Oct 23, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 23, 2025
R$281.72+1.0%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| Nine months ended September 30, | ||
|---|---|---|
| (In millions) | 2025 | 2024 |
| Cash flows from operating activities from continuing operations: | ||
| Net earnings | $367 | $354 |
| Less: Loss from discontinued operations, net of tax | (1) | — |
| Earnings from continuing operations | 368 | 354 |
| Depreciation expense | 1,274 | 1,275 |
| Used vehicle sales, net | (10) | (54) |
| Amortization expense and other non-cash charges, net | 115 | 110 |
| Operating right-of-use asset amortization expense | 281 | 267 |
| Non-operating pension costs, net and share-based compensation expense | 56 | 63 |
| Deferred income taxes | 98 | (29) |
| Collections on sales-type leases | 123 | 111 |
| Changes in operating assets and liabilities: | ||
| Receivables | (234) | (63) |
| Prepaid expenses and other assets | 157 | 15 |
| Accounts payable | (34) | (27) |
| Accrued expenses and other liabilities | (349) | (315) |
| Net cash provided by operating activities from continuing operations | 1,845 | 1,707 |
| Cash flows from investing activities from continuing operations: | ||
| Purchases of property and revenue earning equipment | (1,730) | (1,922) |
| Sales of revenue earning equipment | 369 | 414 |
| Sales of operating property and equipment | 11 | 19 |
| Acquisitions, net of cash acquired | (1) | (313) |
| Other investing activities | 1 | — |
| Net cash used in investing activities from continuing operations | (1,350) | (1,802) |
| Cash flows from financing activities from continuing operations: | ||
| Net borrowings of commercial paper and other | 356 | 405 |
| Debt proceeds | 594 | 1,490 |
| Debt repayments | (939) | (1,448) |
| Dividends on common stock | (108) | (101) |
| Common stock issued, net of tax withholdings on vested stock awards | (17) | 6 |
| Common stock repurchased | (350) | (282) |
| Other financing activities | (5) | (5) |
| Net cash (used in) provided by financing activities from continuing operations | (469) | 65 |
| Effect of exchange rate changes on Cash and cash equivalents | 10 | (12) |
| Increase (decrease) in Cash and cash equivalents from continuing operations | 36 | (42) |
| Net cash used in operating activities from discontinued operations | (1) | — |
| Increase (Decrease) in Cash and cash equivalents | 35 | (42) |
| Cash and cash equivalents at beginning of period | 154 | 204 |
| Cash and cash equivalents at end of period | $189 | $162 |
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