NCR Atleos Corp
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
NATL$48.20+0.6%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
| For the years ended December 31 (in millions) | 2025 | 2024 | 2023 |
|---|---|---|---|
| Operating activities | |||
| Net income (loss) | $162 | $81 | $(148) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization expense | 277 | 287 | 254 |
| Stock-based compensation expense | 34 | 38 | 68 |
| Deferred income taxes | (1) | (19) | 74 |
| (Gain) loss on divestiture and disposal of assets, net | (32) | 2 | 3 |
| Bargain purchase gain from acquisition | — | (5) | — |
| Loss from equity investments | 2 | 3 | — |
| Loss on debt extinguishment | — | 24 | — |
| Changes in assets and liabilities: | |||
| Receivables | 36 | 106 | (50) |
| Related party receivables and payables | — | — | (22) |
| Inventories | (97) | (77) | 53 |
| Current payables and accrued expenses | 49 | 100 | 140 |
| Contract liabilities | 59 | — | 2 |
| Employee benefit plans | (51) | (69) | (170) |
| Settlement assets and liabilities, net | 8 | (49) | 2 |
| Other assets and liabilities | (90) | (78) | 149 |
| Net cash provided by operating activities | $356 | $344 | $355 |
| Investing activities | |||
| Capital expenditures | $(117) | $(87) | $(108) |
| Additions to capitalized software | (39) | (39) | (24) |
| Business acquisitions, net of cash acquired | (17) | — | (1) |
| Purchase of intellectual property | — | (13) | — |
| Proceeds from sale of property, plant and equipment | 45 | — | — |
| Proceeds from divestiture | 11 | 1 | — |
| Sale (purchase) of investments, net | 1 | 4 | (10) |
| Amounts advanced for related party notes receivable | — | — | (217) |
| Repayments received from related party notes receivable | — | — | 44 |
| Other investing activities, net | — | (1) | — |
| Net cash (used in) investing activities | $(116) | $(135) | $(316) |
| Financing activities | |||
| Proceeds from related party borrowings | $— | $— | $412 |
| Payments on related party borrowings | — | — | (314) |
| Proceeds from issuance of senior secured notes | — | — | 1,333 |
| Borrowings on term credit facilities | 11 | 300 | 1,561 |
| Payments on term credit facilities | (109) | (473) | — |
| Borrowings on revolving credit facilities | 965 | 1,104 | 330 |
| Payments on revolving credit facilities | (1,065) | (1,034) | (175) |
| Payments on other financing arrangements | (3) | (3) | (1) |
| Debt issuance costs | — | (2) | (51) |
| Call premium paid on debt extinguishments | — | (7) | — |
| Principal payments for finance lease obligations | (5) | (4) | (1) |
| Tax withholding payments on behalf of employees | (19) | (14) | (7) |
| Proceeds from employee stock plans | 11 | 4 | — |
| Payments on acquisition holdback | (16) | (5) | — |
| Repurchases of common stock | (28) | — | — |
| Net transfers to NCR Corporation | — | — | (60) |
| Consideration paid to NCR Corporation in connection with the Separation | — | — | (2,996) |
| Other financing activities | 5 | — | — |
| Net cash (used in) provided by financing activities | $(253) | $(134) | $31 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 16 | (20) | 17 |
| Increase in cash, cash equivalents and restricted cash | 3 | 55 | 87 |
| Cash, cash equivalents and restricted cash at beginning of period | 641 | 586 | 499 |
| Cash, cash equivalents and restricted cash at end of period | $644 | $641 | $586 |
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