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	2005 - 2019
Period Ending	Jun '25 Jun 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	2005 - 2019
Net Income	2,118	2,136	1,836	1,450	3,099	2,523	Upgrade
Depreciation & Amortization	503.1	504.2	481.6	645.8	204.8	189.6	Upgrade
Stock-Based Compensation	231.6	247.3	265.6	285.4	274.6	246.2	Upgrade
Other Adjustments	2.6	-446.8	-487.1	30.6	-208.2	-332.5	Upgrade
Changes in Trading Assets	-951.9	-760.4	-1,070	87.9	14.9	-798.8	Upgrade
Changes in Other Operating Activities	-16.7	5.5	193.6	-139.9	67.4	91.1	Upgrade
Operating Cash Flow	1,533	1,686	1,219	2,359	3,452	1,919	Upgrade
Operating Cash Flow Growth	-5.79%	38.27%	-48.33%	-31.65%	79.90%	26.02%	Upgrade
Capital Expenditures	-361.8	-423.4	-307.9	-237.6	-239.1	-214.6	Upgrade
Purchases of Investments	-170.6	-100.1	-85.3	-55.1	-48	-272.4	Upgrade
Proceeds from Sale of Investments	546	533.4	616.6	263.6	1,626	454.1	Upgrade
Payments for Business Acquisitions	-	-	-	-	-2,451	-	Upgrade
Other Investing Activities	-150.7	-187.4	-95.2	-12.4	14	-3.4	Upgrade
Investing Cash Flow	-140.9	-177.5	128.2	-41.5	-1,098	-36.3	Upgrade
Issuance of Common Stock	-33.1	-33.3	-18	-36.2	-81.6	3.9	Upgrade
Repurchase of Common Stock	-470	-337.2	-254.4	-849.8	-1,139	-1,202	Upgrade
Net Common Stock Issued (Repurchased)	-503.1	-370.5	-272.4	-886	-1,220	-1,198	Upgrade
Common Dividends Paid	-1,141	-1,136	-1,122	-1,107	-1,702	-845.8	Upgrade
Other Financing Activities	632.4	569.5	315.5	-83.5	-66.8	557.5	Upgrade
Financing Cash Flow	-1,048	-936.6	-1,079	-2,077	-2,989	-1,486	Upgrade
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-2.4	-2.4	0.4	9.5	2.6	1.9	Upgrade
Net Cash Flow	341.7	569.1	269.1	250.5	-632.3	398.2	Upgrade
Beginning Cash & Cash Equivalents	2,789	2,144	1,875	1,624	2,257	1,858	Upgrade
Ending Cash & Cash Equivalents	3,131	2,713	2,144	1,875	1,624	2,257	Upgrade
Free Cash Flow	1,172	1,262	911.2	2,122	3,213	1,704	Upgrade
Free Cash Flow Growth	-7.18%	38.52%	-57.05%	-33.96%	88.52%	29.30%	Upgrade
FCF Margin	16.51%	17.79%	14.10%	32.70%	41.88%	27.46%	Upgrade
Free Cash Flow Per Share	5.27	5.65	4.05	9.34	14.04	7.37	Upgrade
Levered Free Cash Flow	1,211	1,426	1,086	1,914	3,131	1,640	Upgrade
Unlevered Free Cash Flow	892.24	1,093	761.11	2,122	2,926	1,404	Upgrade

Updated Jun 30, 2025. Data Source: Fiscal.ai. Capital Markets template. Financial Sources.