Packaging Corp of America Cash Flow
Concept
Operating Cash Flow
Net Income
Depreciation & Amortization
Stock based compensation
Other non cash items
Change in working capital
Investing Cash Flow
Capital Expenditures
Financing Cash Flow
Dividends Paid
Payout Ratio
Share Issuance / Repurchase
Debt Issued / Paid
Other Investing Activities
End Cash Position
Changes in Cash
Beginning Cash Position
Free Cash Flow
2023
2022
2021
2020
2019
2018
2017
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1,315M
759M
518M
40M
1,101M
-7M
-583M
472M
-112M
449M
59.2 %
-42M
0M
-16M
648M
328M
320M
843M
1,495M
1,030M
457M
36M
-28M
-85M
-7M
824M
-960M
420M
40.79 %
-538M
-2M
-15M
320M
-299M
619M
671M
1,094M
841M
429M
36M
16M
-287M
-1M
605M
-656M
380M
45.21 %
-206M
-70M
-2M
619M
-356M
975M
489M
1,033M
461M
409M
30M
21M
78M
-3M
421M
-312M
300M
65.02 %
-11M
-2M
-11M
975M
295M
680M
612M
1,207M
696M
383M
30M
28M
9M
-146M
400M
-343M
299M
42.93 %
-8M
-36M
-8M
680M
318M
362M
808M
1,180M
738M
417M
24M
16M
-53M
-608M
551M
-427M
268M
36.39 %
-8M
-151M
-8M
362M
145M
217M
629M
856M
669M
391M
21M
6M
-146M
-609M
343M
-269M
238M
35.57 %
-11M
-21M
0M
217M
-22M
239M
513M
801M
450M
0M
0M
0M
0M
0M
274M
24M
0M
0 %
0M
0M
0M
239M
0M
239M
0M
801M
450M
335M
20M
2M
-1M
-770M
274M
24M
216M
48.13 %
-112M
346M
6M
239M
55M
184M
527M
763M
437M
364M
18M
11M
-70M
0M
315M
-405M
201M
45.86 %
-163M
-48M
7M
184M
59M
125M
448M
736M
393M
391M
16M
32M
-97M
0M
420M
-351M
157M
40.1 %
-13M
-197M
13M
125M
-66M
191M
316M
608M
441M
218M
15M
27M
-9M
0M
234M
787M
109M
24.78 %
-19M
904M
8M
191M
-16M
207M
374M
404M
164M
171M
12M
31M
-81M
0M
129M
-246M
118M
72.02 %
-45M
-41M
-61M
207M
51M
156M
276M
346M
158M
164M
10M
6M
-20M
0M
293M
-36M
76M
48.41 %
-115M
147M
-1M
156M
-40M
197M
52M
350M
205M
156M
7M
135M
-34M
0M
323M
-93M
62M
30 %
-39M
-1M
9M
197M
-64M
261M
27M
306M
266M
148M
7M
-119M
18M
0M
114M
-75M
77M
28.85 %
-66M
0M
0M
261M
111M
149M
192M
269M
136M
148M
9M
4M
-16M
0M
133M
-214M
125M
92.37 %
-70M
0M
0M
149M
-79M
228M
136M
300M
170M
146M
8M
5M
-18M
0M
113M
-121M
105M
62.11 %
-31M
0M
5M
228M
66M
162M
187M
247M
125M
152M
6M
4M
-21M
0M
88M
-104M
105M
84.17 %
0M
0M
-6M
162M
49M
113M
158M
243M
53M
158M
2M
-2M
16M
0M
125M
-182M
97M
183.67 %
-93M
0M
0M
113M
-101M
213M
117M
215M
69M
160M
0M
-15M
-41M
0M
109M
-57M
29M
42.19 %
-64M
0M
55M
213M
41M
172M
107M
245M
-14M
159M
0M
91M
19M
0M
113M
-86M
0M
-0 %
-18M
0M
-80M
172M
41M
131M
132M
240M
48M
153M
0M
12M
-10M
0M
107M
-82M
0M
0 %
-33M
0M
-53M
131M
49M
82M
133M
313M
106M
146M
0M
14M
0M
0M
131M
-105M
0M
0 %
-38M
0M
-74M
82M
75M
8M
182M
339M
173M
148M
0M
-60M
-5M
0M
134M
-460M
0M
0 %
-125M
0M
-464M
8M
-2M
10M
205M
254M
47M
112M
-11M
0M
73M
0M
94M
-168M
0M
0 %
0M
0M
-501M
10M
-168M
178M
160M
195M
71M
95M
0M
-17M
-25M
0M
103M
-18M
0M
0 %
0M
0M
-18M
178M
-18M
0M
92M
Concept
Operating Cash Flow
Net Income
Depreciation & Amortization
Stock based compensation
Other non cash items
Change in working capital
Investing Cash Flow
Capital Expenditures
Financing Cash Flow
Dividends Paid
Payout Ratio
Share Issuance / Repurchase
Debt Issued / Paid
Other Investing Activities
End Cash Position
Changes in Cash
Beginning Cash Position
Free Cash Flow
4Q2023
3Q2023
2Q2023
1Q2023
4Q2022
3Q2022
2Q2022
1Q2022
4Q2021
3Q2021
2Q2021
1Q2021
4Q2020
3Q2020
2Q2020
1Q2020
4Q2019
3Q2019
2Q2019
1Q2019
4Q2018
3Q2018
2Q2018
1Q2018
4Q2017
3Q2017
2Q2017
1Q2017
4Q2016
3Q2016
2Q2016
1Q2016
4Q2015
3Q2015
2Q2015
1Q2015
4Q2014
3Q2014
2Q2014
1Q2014
4Q2013
3Q2013
2Q2013
1Q2013
4Q2012
3Q2012
2Q2012
1Q2012
4Q2011
3Q2011
2Q2011
1Q2011
4Q2010
3Q2010
2Q2010
1Q2010
4Q2009
3Q2009
2Q2009
1Q2009
4Q2008
3Q2008
2Q2008
1Q2008
4Q2007
3Q2007
2Q2007
1Q2007
4Q2006
3Q2006
2Q2006
1Q2006
4Q2005
3Q2005
2Q2005
1Q2005
4Q2004
3Q2004
2Q2004
1Q2004
4Q2003
3Q2003
2Q2003
1Q2003
4Q2002
3Q2002
2Q2002
1Q2002
4Q2001
3Q2001
2Q2001
1Q2001
4Q2000
3Q2000
2Q2000
1Q2000
4Q1999
335M
188M
131M
-264M
285M
-17M
-544M
141M
284M
112M
59.52 %
0M
0M
791M
648M
75M
573M
194M
340M
182M
129M
8M
-43M
66M
0M
90M
-155M
112M
61.88 %
-42M
-1M
0M
573M
96M
477M
249M
360M
203M
134M
10M
7M
15M
-127M
126M
-124M
112M
55.56 %
-11M
-1M
-127M
477M
109M
368M
234M
280M
190M
130M
15M
14M
-71M
-2M
112M
-117M
112M
58.96 %
-5M
-1M
-5M
368M
48M
320M
168M
420M
212M
119M
7M
3M
41M
-5M
247M
-497M
116M
54.74 %
-381M
0M
-349M
320M
-329M
649M
173M
431M
263M
114M
7M
-47M
75M
-2M
180M
-265M
117M
44.68 %
-148M
0M
-6M
649M
-19M
667M
251M
319M
302M
114M
9M
7M
-119M
6M
184M
-103M
94M
30.96 %
-9M
-1M
-177M
667M
39M
629M
135M
325M
254M
110M
12M
8M
-82M
-6M
213M
-94M
94M
36.76 %
0M
0M
0M
629M
10M
619M
112M
391M
217M
418M
9M
-251M
-19M
-1M
239M
-1,046M
95M
43.67 %
-194M
-757M
6M
619M
-1,084M
1,703M
152M
284M
251M
57M
7M
5M
-64M
5M
150M
592M
95M
37.88 %
-1M
688M
-8M
1,703M
731M
972M
134M
228M
207M
106M
9M
1M
-97M
-133M
131M
-107M
95M
45.66 %
-10M
0M
-10M
972M
-11M
983M
97M
192M
167M
101M
12M
8M
-107M
-2M
85M
-95M
95M
57.14 %
0M
0M
0M
983M
9M
975M
107M
271M
124M
410M
6M
-302M
19M
-3M
168M
-75M
75M
60.77 %
0M
0M
0M
975M
26M
949M
103M
298M
139M
35M
6M
5M
111M
-24M
102M
-75M
75M
53.74 %
0M
0M
0M
949M
96M
853M
196M
227M
57M
164M
8M
9M
-16M
27M
81M
-86M
75M
131.67 %
0M
0M
-10M
853M
89M
764M
146M
237M
142M
100M
10M
7M
-36M
-4M
71M
-75M
75M
52.67 %
0M
0M
-77M
764M
85M
680M
166M
329M
136M
388M
6M
-258M
35M
-146M
136M
-110M
75M
54.86 %
0M
-35M
0M
680M
-59M
738M
194M
340M
180M
61M
6M
3M
79M
-96M
93M
-75M
75M
41.58 %
0M
0M
0M
738M
169M
569M
247M
302M
194M
102M
12M
7M
-19M
-93M
92M
-83M
75M
38.54 %
-8M
0M
-93M
569M
127M
442M
210M
236M
187M
95M
7M
14M
-85M
-80M
79M
-75M
75M
39.7 %
0M
0M
-80M
442M
81M
362M
157M
346M
205M
106M
6M
1M
24M
0M
147M
-75M
75M
36.24 %
8M
0M
262M
362M
68M
294M
199M
301M
207M
90M
7M
7M
-13M
0M
130M
-75M
75M
35.91 %
0M
0M
0M
294M
94M
200M
171M
331M
187M
109M
6M
7M
9M
0M
166M
-68M
60M
31.66 %
-8M
0M
-8M
200M
97M
102M
165M
203M
140M
108M
5M
5M
-72M
0M
108M
-210M
59M
42.28 %
0M
-150M
0M
102M
-115M
217M
95M
273M
269M
113M
5M
-5M
-23M
0M
117M
-45M
59M
21.95 %
0M
15M
0M
217M
-154M
371M
156M
198M
139M
81M
5M
13M
-38M
0M
87M
-62M
59M
42.57 %
0M
-2M
0M
371M
50M
321M
111M
222M
143M
98M
6M
4M
-21M
0M
82M
-71M
59M
41.18 %
-10M
-2M
-10M
321M
67M
254M
140M
164M
117M
93M
5M
2M
-64M
0M
58M
-92M
59M
50.4 %
-1M
-32M
-1M
254M
15M
239M
106M
213M
111M
104M
5M
-8M
12M
0M
86M
-67M
59M
53.39 %
-1M
-7M
1M
239M
-41M
280M
127M
217M
119M
46M
5M
2M
41M
0M
66M
304M
52M
43.31 %
0M
356M
383M
280M
66M
214M
151M
180M
116M
90M
5M
4M
-28M
0M
69M
-57M
52M
45.16 %
-8M
-2M
-3M
214M
51M
162M
111M
191M
104M
89M
6M
10M
-26M
0M
53M
-157M
53M
50.91 %
-102M
-2M
-2M
162M
-22M
184M
138M
221M
104M
364M
5M
-270M
17M
0M
97M
-128M
54M
51.4 %
-58M
-17M
0M
184M
-3M
187M
124M
238M
128M
95M
5M
-9M
25M
0M
76M
-135M
54M
41.98 %
-55M
-27M
0M
187M
23M
164M
162M
196M
114M
97M
5M
1M
-20M
0M
86M
-93M
54M
47.41 %
-43M
-2M
-1M
164M
37M
126M
110M
108M
91M
95M
4M
2M
-92M
0M
56M
-49M
39M
43.48 %
-8M
-2M
0M
126M
2M
125M
53M
179M
99M
391M
4M
-288M
-11M
0M
165M
-41M
39M
40 %
-1M
-2M
1M
125M
-29M
154M
14M
223M
104M
114M
4M
4M
-2M
0M
107M
-118M
39M
37.74 %
0M
-78M
0M
154M
-8M
162M
116M
185M
100M
110M
4M
-3M
-29M
0M
97M
-91M
39M
39.6 %
-9M
-50M
8M
162M
-24M
186M
88M
149M
90M
86M
4M
9M
-55M
0M
51M
-101M
39M
43.48 %
-2M
-66M
4M
186M
-5M
191M
98M
188M
227M
218M
5M
-126M
31M
0M
104M
885M
39M
17.17 %
0M
924M
0M
191M
-206M
397M
84M
137M
84M
30M
3M
3M
0M
0M
50M
-61M
39M
46.51 %
-14M
-12M
3M
397M
27M
370M
88M
187M
64M
64M
3M
-1M
0M
0M
54M
-31M
31M
46.97 %
-2M
-4M
5M
370M
102M
268M
134M
96M
61M
43M
4M
15M
-32M
0M
27M
-6M
0M
0 %
-3M
-4M
1M
268M
61M
207M
68M
152M
61M
171M
3M
-184M
25M
0M
33M
-52M
49M
79.37 %
62M
-4M
-64M
207M
66M
141M
119M
102M
40M
17M
3M
45M
-17M
0M
25M
-451M
24M
60.98 %
-8M
-425M
2M
141M
-374M
515M
77M
115M
45M
2M
3M
78M
-25M
0M
35M
293M
25M
54.35 %
-76M
392M
-1M
515M
431M
84M
80M
35M
18M
43M
3M
31M
-63M
0M
36M
-36M
20M
111.11 %
-23M
-4M
1M
84M
-72M
156M
-1M
109M
39M
164M
3M
-121M
-11M
0M
78M
97M
20M
51.22 %
-32M
148M
-2M
156M
116M
40M
30M
72M
42M
41M
2M
42M
-9M
0M
63M
-68M
20M
47.62 %
-48M
0M
0M
40M
-79M
119M
8M
101M
39M
40M
3M
42M
24M
0M
85M
-43M
20M
51.28 %
-26M
0M
4M
119M
-54M
173M
16M
64M
37M
39M
2M
3M
-23M
0M
67M
-21M
15M
40.54 %
-9M
0M
4M
173M
-24M
197M
-3M
139M
55M
118M
2M
39M
37M
0M
92M
-26M
15M
27.27 %
-14M
0M
4M
197M
24M
173M
47M
102M
93M
40M
2M
-18M
-9M
0M
76M
-36M
15M
16.48 %
-22M
0M
0M
173M
-9M
182M
27M
94M
38M
0M
3M
81M
-17M
0M
91M
-17M
15M
40.54 %
0M
0M
-2M
182M
-16M
198M
3M
15M
19M
38M
1M
-6M
-44M
0M
64M
-13M
15M
78.95 %
0M
0M
2M
198M
-63M
261M
-50M
97M
59M
148M
1M
-128M
27M
0M
46M
-15M
15M
25.86 %
-66M
0M
0M
261M
36M
224M
51M
68M
73M
0M
2M
-6M
11M
0M
17M
-15M
15M
21.13 %
0M
0M
0M
224M
31M
193M
52M
91M
109M
0M
3M
-23M
-10M
0M
24M
-15M
15M
14.02 %
0M
0M
1M
193M
53M
140M
66M
51M
26M
37M
1M
2M
-10M
0M
28M
-31M
31M
120 %
0M
0M
0M
140M
-9M
149M
23M
87M
30M
40M
9M
-9M
19M
0M
35M
-52M
31M
103.33 %
-20M
0M
4M
149M
1M
148M
53M
71M
38M
36M
1M
4M
1M
0M
33M
-188M
31M
81.08 %
-13M
0M
4M
148M
-150M
298M
39M
66M
35M
36M
2M
2M
-1M
0M
31M
-47M
11M
29.41 %
0M
0M
-36M
298M
-13M
310M
35M
44M
32M
35M
2M
2M
-35M
0M
35M
73M
52M
161.29 %
-20M
0M
295M
310M
82M
228M
10M
117M
44M
36M
8M
-5M
37M
0M
45M
-40M
26M
59.52 %
-23M
0M
2M
228M
34M
194M
73M
53M
49M
36M
1M
2M
-33M
0M
27M
-41M
26M
54.35 %
0M
0M
-17M
194M
-14M
208M
26M
102M
46M
36M
1M
3M
26M
0M
21M
-20M
26M
56.82 %
0M
0M
1M
208M
61M
147M
81M
27M
31M
37M
2M
1M
-48M
0M
21M
-20M
26M
83.33 %
0M
0M
1M
147M
-15M
162M
6M
100M
40M
38M
6M
-4M
30M
0M
33M
-24M
26M
65.79 %
0M
0M
0M
162M
44M
118M
67M
67M
44M
38M
1M
2M
-10M
0M
15M
-29M
26M
59.52 %
0M
0M
-7M
118M
24M
94M
52M
79M
32M
38M
0M
3M
10M
0M
23M
-25M
26M
80.65 %
0M
0M
0M
94M
26M
68M
56M
1M
9M
38M
1M
1M
-51M
0M
17M
-25M
27M
288.89 %
0M
0M
0M
68M
-45M
113M
-17M
74M
2M
39M
2M
6M
2M
0M
26M
-119M
27M
1300 %
-93M
0M
93M
113M
-72M
184M
48M
75M
11M
40M
0M
-3M
31M
0M
30M
-26M
27M
250 %
0M
0M
0M
184M
19M
165M
45M
75M
28M
40M
0M
-11M
23M
0M
32M
-25M
27M
96.15 %
0M
0M
0M
165M
-15M
180M
43M
19M
13M
39M
0M
6M
-40M
0M
37M
-12M
16M
125 %
0M
0M
0M
180M
-33M
213M
-18M
112M
36M
41M
0M
-24M
26M
0M
32M
-15M
18M
50 %
0M
0M
2M
213M
94M
119M
80M
63M
26M
40M
0M
2M
-14M
0M
21M
-13M
16M
62.5 %
0M
0M
0M
119M
28M
91M
42M
42M
14M
40M
0M
1M
-21M
0M
26M
-13M
16M
115.38 %
0M
0M
0M
91M
4M
88M
15M
-1M
-7M
39M
3M
3M
-32M
0M
29M
-16M
16M
-250 %
0M
0M
-4M
88M
-84M
172M
-30M
96M
0M
40M
0M
6M
51M
0M
35M
-6M
0M
0 %
0M
0M
16M
172M
55M
117M
61M
73M
-32M
40M
0M
81M
11M
0M
27M
-61M
0M
-0 %
0M
0M
-92M
117M
-15M
131M
46M
37M
11M
40M
0M
3M
-22M
0M
29M
-12M
0M
0 %
-14M
0M
-33M
131M
-9M
140M
9M
39M
7M
39M
0M
1M
-20M
0M
23M
-6M
0M
0 %
-4M
0M
-4M
140M
9M
131M
16M
68M
12M
39M
0M
3M
1M
0M
35M
-30M
0M
0 %
-5M
0M
-26M
131M
2M
130M
33M
89M
15M
38M
0M
4M
27M
0M
20M
-27M
0M
0 %
-19M
0M
-9M
130M
40M
89M
70M
40M
12M
38M
0M
2M
-21M
0M
27M
-1M
0M
0 %
-2M
0M
-27M
89M
12M
77M
13M
43M
10M
38M
0M
3M
-16M
0M
26M
-23M
0M
0 %
-7M
0M
-18M
77M
-5M
82M
17M
76M
18M
37M
0M
10M
-5M
0M
35M
-27M
0M
0 %
-8M
0M
-21M
82M
17M
65M
41M
111M
29M
37M
0M
3M
34M
0M
38M
-24M
0M
0 %
-27M
0M
0M
65M
50M
16M
74M
57M
31M
37M
0M
1M
-18M
0M
38M
-45M
0M
0 %
0M
0M
-45M
16M
-31M
46M
19M
68M
28M
35M
0M
0M
-11M
0M
20M
-10M
0M
0 %
0M
0M
-11M
46M
38M
8M
48M
100M
74M
37M
0M
-61M
10M
0M
45M
-336M
0M
0 %
0M
0M
-337M
8M
-29M
37M
55M
128M
40M
37M
0M
2M
36M
0M
31M
-68M
0M
0 %
0M
0M
-69M
37M
32M
4M
97M
65M
33M
37M
0M
0M
-23M
0M
37M
-45M
0M
0 %
0M
0M
-45M
4M
-20M
24M
28M
45M
25M
38M
0M
-1M
-29M
0M
20M
-12M
0M
0 %
-124M
0M
-14M
24M
14M
10M
26M
85M
20M
34M
0M
39M
-29M
0M
38M
-332M
0M
0 %
237M
0M
-568M
10M
-21M
31M
47M