Western Digital Corporation

NasdaqGS-WDC

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Operating Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Net Income	802	1,087	174	-972	-1,280	-404
Net Income
Depreciation & Amortization	196	255	278	290	398	430
Depreciation and Amortization
Stock Based Compensation	104	161	146	149	146	172
Stock-Based Compensation
Other Adjustments	142	-25	31	-83	-60	98
Deferred Income Taxes
Gain from Insurance Recovery
Gain on Disposal of Assets
Non-Cash Portion of Employee Termination, Asset Impairment and Other Charges
Asset Impairment
Gain on Repurchase of Debt
Gain on Business Divestiture
Amortization of Debt Issuance Costs and Discounts
Cash Premium on Extinguishment of Debt
Loss on Convertible Debt and Related Instruments
Loss on Retained Interest in Sandisk
Loss on Extinguishment of Debt
Other Non-Cash Operating Activities, Net
Changes in Trade Receivables	510	-431	-643	75	307	899
Accounts Receivable, Net
Changes in Inventories	-297	-112	-126	482	75	-135
Inventories
Changes in Accounts Payable	80	188	7	258	-15	-472
Accounts Payable
Accounts Payable to Related Parties
Changes in Accrued Expenses	-445	33	698	-242	-126	-388
Accrued Arbitration Award
Accrued Expenses
Accrued Compensation
Changes in Income Taxes Payable	405	-57	20	-494	-26	156
Income Taxes Payable
Changes in Other Operating Activities	-243	-662	-161	-181	132	-315
Other Assets and Liabilities, Net
Cash from Operating Activities	1,254	437	424	-718	-449	41
Net Cash Provided by Operating Activities

Investing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Capital Expenditure	-200	-212	-213	-274	-243	-578
Purchases of Property, Plant and Equipment
Proceeds from Sale of Property, Plant & Equipment	1	4	2	193	7	7
Proceeds from the Sale of Property, Plant and Equipment
Purchases of Investments	—	—	—	—	—	—
Purchases of Investments
Proceeds from Sale of Investments	—	—	—	—	—	—
Proceeds from Sales and Maturities of Investments
Proceeds from Sale of Investments
Proceeds from Maturities of Investments
Payments for Business Acquisitions	—	—	—	—	—	—
Acquisitions, Net of Cash Acquired
Proceeds from Business Divestments	210	191	—	—	-7	7
Net Proceeds from Business Divestiture
Other Investing Activities	61	95	160	105	-44	89
Investments in Flash Ventures
Notes Receivable Issuances to Flash Ventures
Notes Receivable Proceeds from Flash Ventures
Distribution from Flash Ventures
Strategic Investments and Other, Net
Cash from Investing Activities	72	78	-51	24	-280	-482
Net Cash Provided by Investing Activities

Financing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Issuance of Short-Term Debt	—	—	—	—	—	—
Proceeds from Revolving Credit Facility
Repayments of Short-Term Debt	—	—	—	—	—	—
Repayments of Revolving Credit Facility
Net Issuance / (Repayments) of Short-Term Debt	—	—	—	—	—	—
Issuance of Long-Term Debt	2,000	150	800	2,200	—	1,180
Proceeds from Debt
Repayments of Long-Term Debt	-1,869	-225	-1,261	-843	—	-1,180
Settlement of Convertible Debt
Repurchases of Debt
Repayments of Debt
Net Issuance / (Repayments) of Long-Term Debt	131	-75	-461	1,357	—	—
Issuance of Common Shares	25	52	40	40	45	48
Employee Stock Plans, Net
Repurchases of Common Shares	-182	-80	-38	-50	-25	-55
Taxes Paid on Vested Stock Awards Under Employee Stock Plans
Repurchases of Common Stock
Net Issuance / (Repurchases) of Common Shares	-157	-28	2	-10	20	-7
Issuance of Preferred Shares	—	—	—	-5	881	—
Proceeds from Convertible Preferred Stock, Net of Issuance Costs
Net Issuance / (Repurchases) of Preferred Shares	—	—	—	-5	881	—
Common Share Dividends Paid	-44	—	-505	—	—	—
Dividends Paid to Shareholders
Other Financing Activities	-1,472	-80	-38	-241	-39	-60
Excess Tax Benefits from Employee Stock Plans
Proceeds from Acquired Call Option
Purchase of Capped Calls
Repayment of Government Grants
Settlement of Debt Hedge Contracts
Debt Issuance Costs
Payment Upon Settlement of Acquired Warrants
Other
Cash Transferred to Sandisk Related to Separation
Taxes Paid on Vested Stock Awards Under Employee Stock Plans
Cash from Financing Activities	-1,509	-103	-964	1,151	887	-12
Net Cash Provided by Financing Activities

Free Cash Flow	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Free Cash Flow	1,054	225	211	-992	-692	-537
NOPAT	-3,882.7	1,265.7	421	-832.6	-341.8	-228.7
Levered Free Cash Flow	-1,435	420	1,043	195	599	-1,706
Unlevered Free Cash Flow	-4,386.7	698.7	924	-993.6	-146.8	-1,530.7
Net Change in Cash	-183	412	-591	457	158	-453