T. Rowe Price Group Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	2020 - 2016
Net Income	2,087	2,100	1,789	1,558	3,083	Upgrade
Depreciation & Amortization	602.2	473.1	481.6	470.7	204.8	Upgrade
Asset Writedown & Restructuring Costs	3.3	31.1	-	175.1	-	Upgrade
Loss (Gain) From Sale of Investments	-452.4	-340.2	-460.8	210.6	-122.5	Upgrade
Stock-Based Compensation	216.9	247.3	265.6	285.4	274.6	Upgrade
Other Operating Activities	129.2	-70.9	20.7	-288.3	-70.1	Upgrade
Change in Other Net Operating Assets	169.8	5.5	193.6	-139.9	67.4	Upgrade
Operating Cash Flow	1,753	1,686	1,219	2,359	3,452	Upgrade
Operating Cash Flow Growth	4.02%	38.27%	-48.33%	-31.65%	79.90%	Upgrade
Capital Expenditures	-274.2	-423.4	-307.9	-237.6	-239.1	Upgrade
Cash Acquisitions	-63.1	-15.8	-56.8	-	-2,451	Upgrade
Divestitures	-	-	-	-8.7	-16.9	Upgrade
Investment in Securities	656.2	433.3	531.3	208.5	1,578	Upgrade
Other Investing Activities	-88.6	-171.6	-38.4	-3.7	30.9	Upgrade
Investing Cash Flow	230.3	-177.5	128.2	-41.5	-1,098	Upgrade
Repurchase of Common Stock	-620.9	-337.2	-254.4	-849.8	-1,139	Upgrade
Common Dividends Paid	-1,143	-1,136	-1,122	-1,107	-1,002	Upgrade
Other Financing Activities	486.5	536.2	297.5	-119.7	-148.4	Upgrade
Financing Cash Flow	-1,277	-936.6	-1,079	-2,077	-2,989	Upgrade
Foreign Exchange Rate Adjustments	-1.9	-2.4	0.4	9.5	2.6	Upgrade
Net Cash Flow	704.4	569.1	269.1	250.5	-632.3	Upgrade
Free Cash Flow	1,479	1,262	911.2	2,122	3,213	Upgrade
Free Cash Flow Growth	17.19%	38.52%	-57.05%	-33.96%	88.52%	Upgrade
Free Cash Flow Margin	20.22%	17.79%	14.10%	32.70%	41.88%	Upgrade
Free Cash Flow Per Share	6.71	5.65	4.05	9.34	14.04	Upgrade
Cash Income Tax Paid	595.4	723.2	632	794.2	948.9	Upgrade
Levered Free Cash Flow	1,994	1,686	861.78	2,066	2,753	Upgrade
Unlevered Free Cash Flow	1,994	1,686	861.78	2,066	2,753	Upgrade
Change in Working Capital	-832.9	-754.9	-876.7	-52	82.3	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.