Principal Financial 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
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
Net Income	1,185	1,571	623.2	4,757	1,580
Depreciation & Amortization	251.4	256.2	272.7	295.9	275.3
Other Amortization	480.5	431	428.1	422.4	405.8
Gain (Loss) on Sale of Assets	-43.2	-87.7	-165	-749.4	-147.9
Gain (Loss) on Sale of Investments	-31.3	-60.4	61.1	343.8	37.3
Stock-Based Compensation	109.9	108.7	99.4	91.3	96.1
Change in Accounts Receivable	-181	53.1	-36.7	-3,302	8.3
Change in Income Taxes	-96.4	106.1	-40.5	854.8	117.9
Change in Insurance Reserves / Liabilities	2,530	2,705	2,562	1,915	1,431
Change in Other Net Operating Assets	266	-24.6	-460.4	3,177	-85.1
Other Operating Activities	60.2	-470	480.2	-4,257	-367.8
Operating Cash Flow	4,537	4,603	3,792	3,173	3,254
Operating Cash Flow Growth	-1.44%	21.37%	19.53%	-2.50%	-12.26%
Capital Expenditures	-98	-68.8	-102	-116.3	-129.9
Cash Acquisitions	-	-27.1	-	-	-
Investment in Securities	-3,519	-4,707	-1,257	2,163	-3,073
Investing Cash Flow	-4,136	-5,399	-1,347	1,059	-5,694
Short-Term Debt Issued	-	97.9	-	0.9	10.2
Long-Term Debt Issued	-	21.8	691.5	15.4	-
Total Debt Issued	-	119.7	691.5	16.3	10.2
Total Debt Repaid	-409.1	-0.1	-782.5	-302	-1.8
Net Debt Issued (Repaid)	-409.1	119.6	-91	-285.7	8.4
Issuance of Common Stock	43.7	67.7	57.8	181.7	86.7
Repurchases of Common Stock	-902.7	-1,042	-740.4	-1,695	-937.2
Common Dividends Paid	-684	-658.4	-625.5	-642.3	-654.1
Total Dividends Paid	-684	-658.4	-625.5	-642.3	-654.1
Other Financing Activities	392	527.6	-383.2	1,027	2,859
Financing Cash Flow	-181.8	300.3	-2,586	-1,715	1,922
Net Cash Flow	219.1	-495.8	-140.3	2,516	-517.8
Free Cash Flow	4,439	4,534	3,690	3,057	3,125
Free Cash Flow Growth	-2.10%	22.86%	20.73%	-2.17%	-13.22%
Free Cash Flow Margin	28.41%	28.11%	27.01%	17.43%	21.66%
Free Cash Flow Per Share	19.67	19.27	15.09	11.97	11.45
Cash Interest Paid	172.6	170.3	170.7	175.8	166.1
Cash Income Tax Paid	220.7	117.7	68.1	142.1	109.9
Levered Free Cash Flow	1,039	1,298	1,594	-360.11	2,364
Unlevered Free Cash Flow	1,039	1,298	1,594	-360.11	2,364
Change in Working Capital	2,598	2,742	1,968	2,305	1,572

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