For the year ending 2025-12-31, PKG had -$156M decrease in cash & cash equivalents over the period. $728.6M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 774.1 | 805.1 | 765.2 | 1,029.8 |
| Depreciation, depletion, and amortization of intangibles | 652.8 | 525.6 | 517.7 | 456.8 |
| Amortization of deferred financing costs | 5.3 | 2.3 | 2.2 | 2.1 |
| Loss on early extinguishment of debt | - | - | 0 | 0 |
| Share-based compensation expense | 45.2 | 48.8 | 40 | 35.6 |
| Deferred income tax provision (benefit) | 97.3 | -4.2 | 5.2 | 86 |
| Goodwill impairment | - | - | - | 0 |
| Net loss on asset disposals | -29.4 | -19.5 | -9.1 | -15.2 |
| Pension and post-retirement benefits expense, net of contributions | -8 | 19.5 | 30.8 | 47.4 |
| Other, net | 0.1 | 24.2 | 13.3 | 2 |
| Accounts receivable | 10.3 | 110.7 | 1.4 | -39.3 |
| Inventories | -4.4 | 111.8 | 35.8 | 75.2 |
| Prepaid expenses and other current assets | -82.9 | 104.7 | 4.2 | 11 |
| Accounts payable | -42.5 | 18.3 | 11.4 | -18.1 |
| Accrued liabilities | -71.2 | 104.2 | -8.2 | 8.3 |
| Federal and state income tax payable / receivable | 18 | 5.9 | -31.4 | 28.4 |
| Net cash provided by operating activities | 1,557.5 | 1,191.2 | 1,315.1 | 1,495 |
| Additions to property, plant, and equipment | 828.9 | 669.7 | 469.7 | 824.2 |
| Acquisition of business, net of cash acquired | 1,804.3 | - | 0 | 0 |
| Additions to other long-term assets | 2.4 | 1.9 | 2.6 | 6.2 |
| Proceeds from asset disposals | 33.4 | 1.3 | 1.6 | 2.2 |
| Purchases of held-to-maturity debt securities | 0 | 0 | 400 | - |
| Proceeds from maturities of held-to-maturity debt securities | 0 | 400 | - | - |
| Purchases of available-for-sale debt securities | 113.5 | 114.3 | 107.2 | 126.1 |
| Proceeds from sales of available-for-sale debt securities | 41.1 | 8.6 | 5.5 | 31.1 |
| Proceeds from maturities of available-for-sale debt securities | 101.7 | 98.2 | 97.3 | 87.6 |
| Other, net | - | 0 | 0 | -1.9 |
| Net cash used for investing activities | -2,572.9 | -277.8 | -875.1 | -833.7 |
| Repayments of debt and finance lease obligations | 2.2 | 401.9 | 1.9 | 1.7 |
| Net proceeds received from issuance of debt | - | 0 | 397.1 | 0 |
| Proceeds from issuance of debt, net of discount and lender fees | 1,494.1 | - | - | - |
| Financing costs paid | 6.3 | 0 | 1.1 | 0 |
| Common stock dividends paid | 449.6 | 448.8 | 448.9 | 420.3 |
| Repurchases of common stock | 153 | 0 | 41.5 | 522.6 |
| Shares withheld to cover employee restricted stock taxes | 23.6 | 25.7 | 15.7 | 15.4 |
| Net cash provided by (used for) financing activities | 859.4 | -876.4 | -112 | -960 |
| Net (decrease) increase in cash and cash equivalents | -156 | 37 | 328 | -298.7 |
| Cash and cash equivalents, beginning of year | 685 | 648 | 320 | 618.7 |
| Cash and cash equivalents, end of year | 529 | 685 | 648 | 320 |
PACKAGING CORP OF AMERICA (PKG)
PACKAGING CORP OF AMERICA (PKG)