Fortis Inc. cash flow statement

In fiscal 2025, Fortis Inc.'s operations generated $2.91bn of cash; it spent $4.25bn on capital projects, leaving free cash flow of −$1.35bn. It returned $564m in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fortis Inc.: cash flow statement, annual
Fiscal year	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	1,310	1,424	2,125	2,011	2,007	2,014	2,320	2,364	2,627	2,835	2,908
Depreciation and amortisation	684	743	909	960	1,017	1,065	1,201	1,283	1,314	1,407	1,473
Stock-based pay	2	2	2	—	—	—	—	—	—	—	—
Capital spending	1,669	1,445	2,169	2,341	2,637	2,876	2,545	2,759	2,954	3,660	4,254
Free cash flow	−359	−21	−44	−330	−630	−862	−225	−395	−327	−825	−1,346
Free cash flow after stock pay	−361	−23	−46	—	—	—	—	—	—	—	—
Dividends paid	182	239	323	354	372	586	485	518	520	543	564
Shares issued	31	34	433	26	1,087	43	48	41	32	34	43

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Fortis Inc.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Fortis Inc.