Packaging Corporation of America (PKG)

PKG Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	774.1	805.1	765.2	1,030	841.1
Depreciation & Amortization	650.5	520.9	499.4	447.1	409.2
Other Amortization	7.6	4.8	6.1	6.1	8
Loss (Gain) From Sale of Assets	29.4	19.5	9.1	15.2	6.1
Asset Writedown & Restructuring Costs	-	2.2	14.4	5.7	4.7
Stock-Based Compensation	45.2	48.8	40	35.6	35.5
Other Operating Activities	105.4	0.5	-12.3	40.6	76.9
Change in Accounts Receivable	-10.3	-110.7	-1.4	39.3	-227.2
Change in Inventory	4.4	-111.8	-35.8	-75.2	-105.5
Change in Accounts Payable	-42.5	18.3	11.4	-18.1	12.2
Change in Income Taxes	-18	-5.9	31.4	-28.4	-2.1
Change in Other Net Operating Assets	11.7	-0.5	-12.4	-2.7	35.2
Operating Cash Flow	1,558	1,191	1,315	1,495	1,094
Operating Cash Flow Growth	30.75%	-9.42%	-12.03%	36.64%	5.93%
Capital Expenditures	-828.9	-669.7	-469.7	-824.2	-605.1
Sale of Property, Plant & Equipment	33.4	1.3	1.6	2.2	7.9
Cash Acquisitions	-1,804	-	-	-	-194.9
Investment in Securities	29.3	392.5	-404.4	-7.4	-0.5
Other Investing Activities	-2.4	-1.9	-2.6	-4.3	-1.8
Investing Cash Flow	-2,573	-277.8	-875.1	-833.7	-794.4
Long-Term Debt Issued	1,494	-	397.1	-	690.2
Long-Term Debt Repaid	-2.2	-401.9	-1.9	-1.7	-757.7
Net Debt Issued (Repaid)	1,492	-401.9	395.2	-1.7	-67.5
Repurchase of Common Stock	-176.6	-25.7	-57.2	-538	-205.9
Common Dividends Paid	-449.6	-448.8	-448.9	-420.3	-379.8
Other Financing Activities	-6.3	-	-1.1	-	-2.4
Financing Cash Flow	859.4	-876.4	-112	-960	-655.6
Net Cash Flow	-156	37	328	-298.7	-355.9
Free Cash Flow	728.6	521.5	845.4	670.8	489
Free Cash Flow Growth	39.71%	-38.31%	26.03%	37.18%	-20.05%
Free Cash Flow Margin	8.11%	6.22%	10.84%	7.91%	6.33%
Free Cash Flow Per Share	8.13	5.83	9.45	7.24	5.17
Cash Interest Paid	100.6	107.7	84.8	85.6	149.6
Cash Income Tax Paid	174.4	269.4	212.3	277.4	210.5
Levered Free Cash Flow	463.69	402.51	709.79	459.86	349.64
Unlevered Free Cash Flow	507.83	426.09	740.9	501.76	403.68
Change in Working Capital	-54.7	-210.6	-6.8	-85.1	-287.4

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q