Solventum Corp
For the period ended Mar 31, 2024. Filed May 10, 2024.
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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.
Mar 31, 2024 · Filed May 10, 2024
SOLV$90.08-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Combined Statements of Cash Flows
| Three months ended March 31, | ||
|---|---|---|
| (Millions) | 2024 | 2023 |
| Cash Flows from Operating Activities | ||
| Net income | $237 | $293 |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Depreciation and amortization | 139 | 145 |
| Postretirement benefit plan expense | 9 | 10 |
| Stock-based compensation expense | 4 | 18 |
| Deferred income taxes | (25) | (34) |
| Changes in assets and liabilities | ||
| Accounts receivable | 78 | 32 |
| Inventories | (52) | (6) |
| Accounts payable | 115 | 26 |
| All other operating activities | (63) | 25 |
| Net cash provided by operating activities | 442 | 509 |
| Cash Flows from Investing Activities | ||
| Purchases of property, plant and equipment | (102) | (65) |
| Net cash (used in) investing activities | (102) | (65) |
| Cash Flows from Financing Activities | ||
| Net transfers to 3M | (7,851) | (460) |
| Proceeds from long-term debt, net of issuance costs | 8,303 | — |
| Other — net | 10 | (2) |
| Net cash provided by (used in) financing activities | 462 | (462) |
| Effect of exchange rate changes on cash and cash equivalents | — | — |
| Net increase (decrease) in cash and cash equivalents | 802 | (18) |
| Cash and cash equivalents at beginning of year | 194 | 61 |
| Cash and cash equivalents at end of period | $996 | $43 |
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