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Financial Statements

Air Products and Chemicals Inc.

Air Products and Chemicals Inc. (APD)

Basic Materials

PPE Schedule

PPE Schedule

Year 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Year 2009201020112012201320142015201620172018
Gross PPE -6,8607,0517,2238,2418,9749,5328,7458,2608,440
Annual Depreciation 8,0391,1801,4812,5392,2581,9213754221,2203,052
Capital Expenditure -1,179-989-1,309-1,521-1,524-1,363-1,162-908-1,040-1,568
Net PPE 6,8607,0517,2238,2418,9749,5328,7458,2608,4409,924

Air Products and Chemicals Inc. income statement is the only one that provides an overview of company sales and net income
The reasoning behind the adjustment, however, is that free cash flow is meant to measure money being spent right now, not transactions that happened in the past. This makes Air Products and Chemicals Inc. FCF a useful instrument for identifying growing companies with high up-front costs, which may eat into earnings now but have the potential to pay off later.