Curtiss-Wright Corporation

NYSE-CW

Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	124.8	121.1	101.3	117.9	111.2	99.5
Net Earnings
Depreciation & Amortization	31.2	31.3	30.8	26.8	26.7	27.2
Depreciation and Amortization
Share-Based Compensation Expense	6.1	5.2	5.3	3.7	5.7	4.8
Share-Based Compensation
Other Adjustments	6.8	1.4	-1.8	2.3	-3.5	-3.6
Gain on Sale of Businesses
Loss on Divestiture
Impairment of Assets Held for Sale
(Gain) on Sale/Disposal of Long-Lived Assets
Deferred Income Taxes
Foreign Exchange Loss on Substantial Liquidation of Subsidiary
Inventory Write-Downs
Non-Cash Restructuring Charges
Changes in Trade Receivables	-18.2	-37.8	-72.7	32	-34.9	-38.2
Receivables, Net
Changes in Inventories	-28.5	-23.5	-34.1	37.2	-17.6	-8.3
Inventories, Net
Changes in Accounts Payable	68.6	-4.1	-36	31.2	40.1	-20.5
Accounts Payable and Accrued Expenses
Changes in Income Taxes Payable	—	—	—	—	—	—
Income Taxes
Changes in Unearned Revenue	4.4	48.4	-12.7	58.7	49	42.3
Deferred Revenue
Changes in Other Operating Activities	-2.3	-5.3	-18.9	-8.5	0.6	8.1
Progress Payments
Pension and Postretirement Liabilities, Net
Termination of Interest Rate Swap
Other Liabilities
Other
Other Current and Long-Term Assets and Liabilities
Cash from Operating Activities	192.8	136.6	-38.8	301.3	177.3	111.3
Net Cash Provided by Operating Activities

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Capital Expenditure	-16.9	-19.4	-15.8	-23.3	-14.6	-11.1
Additions to Property, Plant, and Equipment
Proceeds from Sale of Property, Plant & Equipment	0.1	-0.2	0.5	2	1.1	0.1
Proceeds from Sales and Disposals of Long-Lived Assets
Purchases of Intangible Assets	—	—	—	—	—	—
Acquisition of Intangible Assets
Purchases of Investments	—	—	—	—	—	—
Purchases of Investments
Proceeds from Sale of Investments	—	7.9	—	—	—	—
Proceeds from Sale of Equity Securities
Payments for Business Acquisitions	—	-4.8	-9.6	-191.8	-95.9	-33.8
Acquisition of Business, Net of Cash Acquired
Additional Consideration Paid on Prior Year Acquisitions
Proceeds from Business Divestments	—	—	—	—	—	—
Proceeds from Divestitures
Other Investing Activities	—	—	—	—	—	—
Other
Cash from Investing Activities	-16.8	-11.7	-24.9	-213.1	-13.5	-44.7
Net Cash Provided by Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Short-Term Debt	132.3	61	78.1	4.7	7.7	4
Borrowings Under Revolving Credit Facility
Repayments of Short-Term Debt	-121.8	-61	-78.1	-4.7	-7.7	-4
Payment of Revolving Credit Facility
Net Issuance / (Repayments) of Short-Term Debt	10.5	—	—	—	—	—
Issuance of Long-Term Debt	—	—	—	—	—	—
Borrowings of Debt
Repayments of Long-Term Debt	—	-45	-90	—	—	—
Principal Payments on Debt
Net Issuance / (Repayments) of Long-Term Debt	—	-45	-90	—	—	—
Issuance of Common Shares	6.6	3	6	2.9	5.9	2.7
Proceeds from Share-Based Compensation
Repurchases of Common Shares	-290	-20.8	-14.3	-112.4	-112.8	-12.6
Repurchases of Common Stock
Net Issuance / (Repurchases) of Common Shares	-283.5	-17.8	-8.3	-109.5	-106.9	-9.9
Common Share Dividends Paid	-9	-7.9	—	-15.9	-8	-7.7
Dividends Paid
Other Financing Activities	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3
Other
Excess Tax Benefits from Share-Based Compensation
Cash from Financing Activities	-282.3	-29.1	-98.6	-128.7	-115.3	-20.6
Net Cash Provided by Financing Activities

Free Cash Flow	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Free Cash Flow	175.9	117.2	-54.5	278	162.7	100.3
NOPAT	128.8	120.7	104.7	119.1	112.2	101.6
Levered Free Cash Flow	191.7	103.4	-75.3	240	195.4	137.3
Unlevered Free Cash Flow	185.2	148.1	18.1	241.3	196.4	139.4
Net Change in Cash	-106.3	95.9	-162.2	-40.4	48.5	46