MOODYS CORP /DE/
For the period ended Sep 30, 2026. Filed Oct 21, 2026.
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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, 2026 · Filed Oct 21, 2026
MCO$510.71-0.1%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows (Unaudited) for the
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(Amounts in millions)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net income | $2,276 | $1,851 |
| Reconciliation of net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 372 | 356 |
| Stock-based compensation | 175 | 174 |
| Deferred income taxes | 50 | 40 |
| Non-cash restructuring and abandonment-related charges | 3 | 8 |
| Provision for credit losses on accounts receivable | 9 | 11 |
| Gain on business divestitures | (296) | — |
| Changes in assets and liabilities: | ||
| Accounts receivable | 166 | 63 |
| Other current assets | (5) | 13 |
| Other assets | 1 | (16) |
| Lease obligations | (2) | (28) |
| Accounts payable and accrued liabilities | (123) | (317) |
| Deferred revenue | (172) | (130) |
| Uncertain tax positions and other non-current tax liabilities | 10 | 17 |
| Other liabilities | 7 | 1 |
| Net cash provided by operating activities | 2,471 | 2,043 |
| Cash flows from investing activities | ||
| Capital additions | (271) | (245) |
| Purchases of investments | (165) | (158) |
| Sales and maturities of investments | 133 | 656 |
| Purchases of investments in non-consolidated affiliates | (4) | (14) |
| Receipts from settlements of net investment hedges | — | 32 |
| Cash paid for acquisitions, net of cash acquired | (23) | (227) |
| Cash received upon business divestitures | 200 | — |
| Net cash (used in) provided by investing activities | (130) | 44 |
| Cash flows from financing activities | ||
| Repayment of notes | — | (700) |
| Proceeds from stock-based compensation plans | 34 | 44 |
| Repurchase of shares related to stock-based compensation and excise tax payments on share repurchases | (125) | (92) |
| Treasury shares | (2,553) | (1,170) |
| Dividends | (543) | (534) |
| Dividends to noncontrolling interests | (3) | (2) |
| Net cash used in financing activities | (3,190) | (2,454) |
| Effect of exchange rate changes on cash and cash equivalents | (22) | 140 |
| Decrease in cash and cash equivalents | (871) | (227) |
| Cash and cash equivalents, beginning of period | 2,384 | 2,408 |
| Cash and cash equivalents, end of period | $1,513 | $2,181 |
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