Price T Rowe Group (TROW) quarterly cash flow statement covering the six quarters from September 2024 to December 2025, as reported to the SEC.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Dec'25 | Sep'25 | Jun'25 | Mar'25 | Dec'24 | Sep'24 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | |||||||||||||||||||||
Net income | |||||||||||||||||||||
460,600 | 686,500 | 556,100 | 505,100 | 416,700 | 640,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net income | 460,600 | 686,500 | 556,100 | 505,100 | 416,700 | 640,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustments to reconcile net income to net cash provided by operating activities | |||||||||||||||||||||
Depreciation and amortization of property, equipment and software | |||||||||||||||||||||
202,100 | 70,800 | 69,300 | 63,600 | 65,700 | 62,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation and amortization of property, equipment and software | 202,100 | 70,800 | 69,300 | 63,600 | 65,700 | 62,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amortization and impairment of acquisition-related assets and retention arrangements | |||||||||||||||||||||
33,900 | 49,400 | 67,400 | 49,000 | 53,600 | 72,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization and impairment of acquisition-related assets and retention arrangements | 33,900 | 49,400 | 67,400 | 49,000 | 53,600 | 72,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Fair value remeasurement of contingent consideration liability | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Fair value remeasurement of contingent consideration liability | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Stock-based compensation expense | |||||||||||||||||||||
82,700 | 37,300 | 46,600 | 50,300 | 85,100 | 49,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Stock-based compensation expense | 82,700 | 37,300 | 46,600 | 50,300 | 85,100 | 49,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net gains recognized on investments | |||||||||||||||||||||
104,900 | 173,700 | 165,500 | 8,300 | 8,100 | 118,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net gains recognized on investments | 104,900 | 173,700 | 165,500 | 8,300 | 8,100 | 118,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Intangible asset amortization | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Intangible asset amortization | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Realized gains on dispositions of available-for-sale T. Rowe Price investment products | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Realized gains on dispositions of available-for-sale T. Rowe Price investment products | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net gains recognized on other investments | |||||||||||||||||||||
104,900 | 173,700 | 165,500 | 8,300 | 8,100 | 118,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net gains recognized on other investments | 104,900 | 173,700 | 165,500 | 8,300 | 8,100 | 118,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in trading securities held by consolidated sponsored investment portfolios | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in trading securities held by consolidated sponsored investment portfolios | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net redemptions in investment products used to economically hedge deferred compensation liabilities | |||||||||||||||||||||
-102,000 | 38,700 | 25,400 | 45,900 | -123,000 | 14,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net redemptions in investment products used to economically hedge deferred compensation liabilities | -102,000 | 38,700 | 25,400 | 45,900 | -123,000 | 14,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in securities held by consolidated investment products | |||||||||||||||||||||
- | - | - | 163,000 | - | 299,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in securities held by consolidated investment products | - | - | - | 163,000 | - | 299,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other than temporary impairments of investments in sponsored mutual funds | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other than temporary impairments of investments in sponsored mutual funds | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other changes in assets and liabilities | |||||||||||||||||||||
409,800 | -312,200 | -177,100 | -90,300 | 529,400 | -245,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other changes in assets and liabilities | 409,800 | -312,200 | -177,100 | -90,300 | 529,400 | -245,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by operating activities | |||||||||||||||||||||
-18,700 | 609,300 | 529,900 | 632,900 | -281,900 | 652,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by operating activities | -18,700 | 609,300 | 529,900 | 632,900 | -281,900 | 652,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from investing activities | |||||||||||||||||||||
Investment in UTI Asset Management Company Limited | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Investment in UTI Asset Management Company Limited | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchases of sponsored investment products | |||||||||||||||||||||
-22,000 | 20,900 | 40,400 | 73,600 | 10,700 | 45,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of sponsored investment products | -22,000 | 20,900 | 40,400 | 73,600 | 10,700 | 45,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Dispositions of sponsored investment products | |||||||||||||||||||||
296,100 | 249,500 | 103,700 | 119,800 | 230,300 | 92,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Dispositions of sponsored investment products | 296,100 | 249,500 | 103,700 | 119,800 | 230,300 | 92,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash of investment products upon deconsolidation | |||||||||||||||||||||
-27,300 | -34,700 | -4,800 | 3,700 | -100 | -2,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash of investment products upon deconsolidation | -27,300 | -34,700 | -4,800 | 3,700 | -100 | -2,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Investments in debt securities held by savings bank subsidiary | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Investments in debt securities held by savings bank subsidiary | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from debt securities held by savings bank subsidiary | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from debt securities held by savings bank subsidiary | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Additions to property, equipment and software | |||||||||||||||||||||
66,700 | 63,300 | 62,200 | 82,000 | 113,000 | 104,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Additions to property, equipment and software | 66,700 | 63,300 | 62,200 | 82,000 | 113,000 | 104,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other investing activity | |||||||||||||||||||||
-25,100 | 92,700 | 5,300 | 15,700 | 129,000 | 700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other investing activity | -25,100 | 92,700 | 5,300 | 15,700 | 129,000 | 700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in investing activities | |||||||||||||||||||||
249,200 | 37,900 | -9,000 | -47,800 | -22,500 | -61,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in investing activities | 249,200 | 37,900 | -9,000 | -47,800 | -22,500 | -61,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from financing activities | |||||||||||||||||||||
Repurchases of common stock | |||||||||||||||||||||
139,100 | 153,500 | 113,100 | 215,200 | 68,100 | 73,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repurchases of common stock | 139,100 | 153,500 | 113,100 | 215,200 | 68,100 | 73,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Common share issuances under stock-based compensation plans | |||||||||||||||||||||
-52,500 | 13,700 | 1,300 | 15,200 | -61,400 | 11,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Common share issuances under stock-based compensation plans | -52,500 | 13,700 | 1,300 | 15,200 | -61,400 | 11,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Dividends paid to common stockholders and equity-unit holders | |||||||||||||||||||||
284,500 | 283,400 | 285,600 | 289,500 | 284,600 | 281,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Dividends paid to common stockholders and equity-unit holders | 284,500 | 283,400 | 285,600 | 289,500 | 284,600 | 281,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net distributions to non-controlling interests in consolidated entities | |||||||||||||||||||||
-28,800 | -100 | -5,600 | 100 | -39,300 | 100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net distributions to non-controlling interests in consolidated entities | -28,800 | -100 | -5,600 | 100 | -39,300 | 100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net contributions from non-controlling interests in consolidated entities | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net contributions from non-controlling interests in consolidated entities | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net subscriptions from redeemable non-controlling interest holders | |||||||||||||||||||||
13,100 | 325,000 | 127,100 | 78,000 | 245,000 | 190,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net subscriptions from redeemable non-controlling interest holders | 13,100 | 325,000 | 127,100 | 78,000 | 245,000 | 190,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Excess tax benefits from stock-based compensation plans | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Excess tax benefits from stock-based compensation plans | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in savings bank subsidiary deposits | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Change in savings bank subsidiary deposits | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in financing activities | |||||||||||||||||||||
-491,800 | -98,300 | -275,900 | -411,400 | -208,400 | -152,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in financing activities | -491,800 | -98,300 | -275,900 | -411,400 | -208,400 | -152,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Effect of exchange rate changes on cash and cash equivalents of consolidated investment products | |||||||||||||||||||||
-5,300 | 4,500 | -2,000 | 900 | -2,900 | 1,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Effect of exchange rate changes on cash and cash equivalents of consolidated investment products | -5,300 | 4,500 | -2,000 | 900 | -2,900 | 1,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in cash and cash equivalents during period | |||||||||||||||||||||
-266,600 | 553,400 | 243,000 | 174,600 | -515,700 | 439,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in cash and cash equivalents during period | -266,600 | 553,400 | 243,000 | 174,600 | -515,700 | 439,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||