Garrett Motion Inc.
For the period ended Dec 31, 2025. Filed Feb 19, 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 19, 2026
GTX$20.68-0.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| (Dollars in millions) | 2025 | 2024 | 2023 |
| Cash flows from operating activities: | |||
| Net income | $310 | $282 | $261 |
| Adjustments to reconcile net income to net cash provided by operating activities | |||
| Deferred income taxes | 9 | 7 | 24 |
| Depreciation | 99 | 90 | 90 |
| Amortization of deferred debt issuance costs | 7 | 37 | 20 |
| Loss on remeasurement of forward purchase contract | — | — | 13 |
| Gain on sale of equity investment | — | (27) | — |
| Foreign exchange (gain) loss | (66) | 27 | (15) |
| Stock compensation expense | 27 | 23 | 14 |
| Pension expense | (8) | (6) | (1) |
| Unrealized loss (gain) on derivatives | 73 | (2) | 51 |
| Other | 10 | (6) | 7 |
| Changes in assets and liabilities: | |||
| Accounts, notes and other receivables | 22 | 89 | 1 |
| Inventories | (35) | (48) | 12 |
| Other assets | (18) | (25) | (2) |
| Accounts payable | 8 | (52) | 8 |
| Accrued liabilities | (46) | 26 | (8) |
| Other liabilities | 21 | (7) | (10) |
| Net cash provided by operating activities | 413 | 408 | 465 |
| Cash flows from investing activities: | |||
| Expenditures for property, plant and equipment | (72) | (91) | (83) |
| Proceeds from cross-currency swap contracts | 28 | 31 | 28 |
| Proceeds from sale of equity investment | 3 | 46 | — |
| Net cash used for investing activities | (41) | (14) | (55) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of long-term debt, net of deferred financing costs | 80 | 794 | 667 |
| Proceeds from revolving credit facilities | 70 | — | — |
| Payments of long-term debt | (139) | (992) | (207) |
| Payments of revolving credit facilities | (70) | — | — |
| Payments for dividends | (52) | — | (42) |
| Repurchases of Series A Preferred Stock | — | — | (580) |
| Repurchases of Common Stock | (208) | (296) | (213) |
| Excise tax on Common Stock repurchase | (3) | (8) | — |
| Payments of Additional Amounts for conversion of Series A Preferred Stock | — | — | (25) |
| Payments for debt and revolving facility financing costs | (2) | (8) | (2) |
| Other | (2) | (10) | (1) |
| Net cash used for financing activities | (326) | (520) | (403) |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 7 | (8) | 5 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 53 | (134) | 12 |
| Cash, cash equivalents and restricted cash at beginning of period | 126 | 260 | 248 |
| Cash, cash equivalents and restricted cash at end of period | $179 | $126 | $260 |
| Supplemental cash flow disclosures: | |||
| Income taxes paid (net of refunds and credits) | $62 | $64 | $60 |
| Interest paid | 95 | 88 | 89 |
| Supplemental disclosure of non-cash financing activities: | |||
| Dividends declared, not paid | $— | $13 | $— |
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