Company: ROK
Filing Date: 2025-11-12
Form Type: 10-K
Source: 0001024478-25-000116
Chunk: 51

Company: ROCKWELL AUTOMATION, INC
Filing Date: 2025-11-12
Form: 10-K
Item: Item 4
Chunk 51
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 million tax effect including related valuation allowances recorded in the Income tax provision, and ($93) million Net loss attributable to noncontrolling interests. 

(2) All periods have been recast to conform with current year presentation.

31

Financial Condition

The following is a summary of our cash flows from operating, investing, and financing activities, as reflected in the Consolidated Statement of Cash Flows (in millions):

 Year Ended September 30, 202520242023Cash provided by (used for)   Operating activities$1,544 $864 $1,374 Investing activities(216)(982)854 Financing activities(1,335)(503)(1,676)Effect of exchange rate changes on cash4 12 20 (Decrease) increase in cash, cash equivalents, and restricted cash$(3)$(609)$572 

The following table summarizes free cash flow, which is a non-GAAP financial measure (in millions):

 Year Ended September 30, 202520242023Cash provided by operating activities$1,544 $864 $1,374 Capital expenditures(186)(225)(161)Free cash flow$1,358 $639 $1,213 

Our definition of free cash flow takes into consideration capital investments required to maintain the operations of our businesses and execute our strategy. Cash provided by operating activities adds back non-cash depreciation expense to earnings but does not reflect a charge for necessary capital expenditures. Our definition of free cash flow excludes the operating cash flows and capital expenditures related to our discontinued operations, if any. Operating, investing, and financing cash flows of our discontinued operations, if any, are presented separately in our Consolidated Statement of Cash Flows. In our opinion, free cash flow provides useful information to investors regarding our ability to generate cash from business operations that is available for acquisitions and other investments, service of debt principal, dividends, and share repurchases. We use free cash flow, as defined, as one measure to monitor and evaluate our performance, including as a financial measure for our annual incentive compensation. Our definition of free cash flow may be different from definitions used by other companies.

Cash provided by operating activities was $1,544 million for the year ended September 30, 2025, compared to $864 million for the year ended September 30, 2024. Free cash flow was $1,358 million for the year ended September 30, 2025, compared to $639 million for the