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
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	2,087	2,100	1,789	1,558	3,083
Depreciation & Amortization	605.5	473.1	481.6	470.7	204.8
Asset Writedown & Restructuring Costs	-	31.1	-	175.1	-
Loss (Gain) From Sale of Investments	-452.4	-340.2	-460.8	210.6	-122.5
Stock-Based Compensation	216.9	247.3	265.6	285.4	274.6
Other Operating Activities	129.2	-70.9	20.7	-288.3	-70.1
Change in Other Net Operating Assets	169.8	5.5	193.6	-139.9	67.4
Operating Cash Flow	1,753	1,686	1,219	2,359	3,452
Operating Cash Flow Growth	4.02%	38.27%	-48.33%	-31.65%	79.90%
Capital Expenditures	-	-423.4	-307.9	-237.6	-239.1
Cash Acquisitions	-	-15.8	-56.8	-8.7	-2,468
Investment in Securities	-	433.3	531.3	208.5	1,578
Other Investing Activities	230.3	-171.6	-38.4	-3.7	30.9
Investing Cash Flow	230.3	-177.5	128.2	-41.5	-1,098
Repurchase of Common Stock	-	-337.2	-254.4	-849.8	-1,139
Common Dividends Paid	-	-1,136	-1,122	-1,107	-1,002
Other Financing Activities	-1,277	536.2	297.5	-119.7	-148.4
Financing Cash Flow	-1,277	-936.6	-1,079	-2,077	-2,989
Foreign Exchange Rate Adjustments	-1.9	-2.4	0.4	9.5	2.6
Net Cash Flow	704.4	569.1	269.1	250.5	-632.3
Free Cash Flow	1,753	1,262	911.2	2,122	3,213
Free Cash Flow Growth	38.92%	38.52%	-57.05%	-33.96%	88.52%
Free Cash Flow Margin	23.97%	17.79%	14.10%	32.70%	41.88%
Free Cash Flow Per Share	7.96	5.65	4.05	9.34	14.04
Cash Income Tax Paid	-	723.2	632	794.2	948.9
Levered Free Cash Flow	-	1,686	848.78	2,066	2,753
Unlevered Free Cash Flow	-	1,686	848.78	2,066	2,753
Change in Working Capital	-832.9	-754.9	-876.7	-52	82.3

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