Uncover the significance of Levered Free Cash Flow (LFCF), its calculation, and its crucial role in a company's financial health and investment decisions.

Depreciation is a non-cash accounting expense that doesn’t involve cash flow, but it is a factor that can impact all areas of a company’s financial performance.

S&P Global plans to return approximately 85% of its adjusted free cash flow to shareholders in 2025 through dividends and share repurchases.