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	1,256	1,598	670.1	4,798	1,627
Depreciation & Amortization	251.4	256.2	272.7	359.5	275.3
Stock-Based Compensation	109.9	108.7	99.4	91.3	96.1
Other Adjustments	3,417	3,170	3,905	-2,284	1,431
Changes in Receivables	-181	53.1	-36.7	-339.5	8.3
Changes in Reinsurance Contract Assets	-33.4	-665.2	254.1	3,039	-36
Changes in Deferred Acquisition Costs	-32.3	-59.6	-1.2	-4.8	-141.6
Changes in Claims Reserves	2,530	2,705	2,562	-3,302	1,431
Changes in Income Taxes Payable	-96.4	106.1	-40.5	1,915	117.9
Changes in Other Operating Activities	165.4	157.4	-159.7	-321.5	-63.5
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	-233.5	-236.6	-289.5	-361.5	-411.3
Sale of Property, Plant & Equipment	201	125.8	132	374	153.2
Purchases of Investments	-19,527	-17,419	-13,461	-23,084	-20,051
Proceeds from Sale of Investments	16,101	12,850	13,191	24,198	16,550
Payments for Business Acquisitions	-27.1	-5.6	-	-	-
Proceeds from Business Divestments	-	-	-672	-	27
Other Investing Activities	-692.7	-	-919.3	-68.2	-142.6
Investing Cash Flow	-4,136	-5,399	-1,347	1,059	-5,694
Net Short-Term Debt Issued (Repaid)	-9	97.9	-18.5	0.9	10.2
Long-Term Debt Issued	-	21.8	691.5	15.4	-
Long-Term Debt Repaid	-400.1	-0.1	-764	-302	-1.8
Net Long-Term Debt Issued (Repaid)	-400.1	21.7	-72.5	-286.6	-1.8
Issuance of Common Stock	43.7	67.7	57.8	181.7	86.7
Repurchase of Common Stock	-902.7	-1,042	-740.4	-1,695	-937.2
Net Common Stock Issued (Repurchased)	-859	-974.7	-682.6	-1,513	-850.5
Common Dividends Paid	-684	-658.4	-625.5	-642.3	-654.1
Other Financing Activities	1,770	1,814	-1,187	725.9	3,409
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	4,303	4,366	3,503	2,811	2,843
Free Cash Flow Growth	-1.44%	24.65%	24.60%	-1.11%	-15.63%
FCF Margin	27.54%	27.07%	25.63%	16.03%	19.93%
Free Cash Flow Per Share	19.07	18.56	14.32	11.01	10.42
Levered Free Cash Flow	797.2	1,249	568.1	9,096	1,460
Unlevered Free Cash Flow	1,277	1,156	706	9,423	1,498

Updated Dec 31, 2025. Data Source: Fiscal.ai. Insurance template. Financial Sources.