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	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	2,082	2,100	1,789	1,558	3,083	2,373	Upgrade
Depreciation & Amortization	517.4	473.1	481.6	470.7	204.8	189.6	Upgrade
Asset Writedown & Restructuring Costs	-28.6	31.1	-	175.1	-	-	Upgrade
Loss (Gain) From Sale of Investments	-355.6	-340.2	-460.8	210.6	-122.5	-189.6	Upgrade
Stock-Based Compensation	219.3	247.3	265.6	285.4	274.6	246.2	Upgrade
Other Operating Activities	69.7	-70.9	20.7	-288.3	-70.1	7.7	Upgrade
Change in Other Net Operating Assets	50.2	5.5	193.6	-139.9	67.4	91.1	Upgrade
Operating Cash Flow	1,490	1,686	1,219	2,359	3,452	1,919	Upgrade
Operating Cash Flow Growth	-17.67%	38.27%	-48.33%	-31.65%	79.90%	26.02%	Upgrade
Capital Expenditures	-320.5	-423.4	-307.9	-237.6	-239.1	-214.6	Upgrade
Cash Acquisitions	-15.8	-15.8	-56.8	-8.7	-2,468	-53.9	Upgrade
Investment in Securities	557.7	433.3	531.3	208.5	1,578	181.7	Upgrade
Other Investing Activities	-242.7	-171.6	-38.4	-3.7	30.9	50.5	Upgrade
Investing Cash Flow	-41.4	-177.5	128.2	-41.5	-1,098	-36.3	Upgrade
Issuance of Common Stock	2.1	-	-	-	-	3.9	Upgrade
Repurchase of Common Stock	-549.9	-337.2	-254.4	-849.8	-1,139	-1,202	Upgrade
Common Dividends Paid	-1,143	-1,136	-1,122	-1,107	-1,002	-845.8	Upgrade
Other Financing Activities	696.9	536.2	297.5	-119.7	-148.4	557.5	Upgrade
Financing Cash Flow	-994	-936.6	-1,079	-2,077	-2,989	-1,486	Upgrade
Foreign Exchange Rate Adjustments	0.5	-2.4	0.4	9.5	2.6	1.9	Upgrade
Net Cash Flow	455.3	569.1	269.1	250.5	-632.3	398.2	Upgrade
Free Cash Flow	1,170	1,262	911.2	2,122	3,213	1,704	Upgrade
Free Cash Flow Growth	-17.50%	38.52%	-57.05%	-33.96%	88.52%	29.30%	Upgrade
Free Cash Flow Margin	16.23%	17.79%	14.10%	32.70%	41.88%	27.46%	Upgrade
Free Cash Flow Per Share	5.28	5.65	4.05	9.34	14.04	7.37	Upgrade
Cash Income Tax Paid	723.2	723.2	632	794.2	948.9	643	Upgrade
Levered Free Cash Flow	923.41	1,686	848.78	2,066	2,753	1,984	Upgrade
Unlevered Free Cash Flow	923.41	1,686	848.78	2,066	2,753	1,984	Upgrade
Change in Working Capital	-1,014	-754.9	-876.7	-52	82.3	-707.7	Upgrade

Source: S&P Global Market Intelligence. Standard template. Financial Sources.