Insurance House P.S.C. (ADX:IH)

Heartland Financial USA Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	-12.68	-19.69	-41.97	-27.75	9.52	10.89
Depreciation & Amortization	2.79	2.79	1.58	1.36	1.65	1.84
Gain (Loss) on Sale of Investments	0.14	0.05	-0.98	-2.25	-1.1	-1.39
Change in Accounts Receivable	-	-	-	-	-28.17	-3.79
Reinsurance Recoverable	-20.32	-26.93	5.43	-48.59	-35.06	3.89
Change in Insurance Reserves / Liabilities	20.65	15.97	-27.94	63.86	37.2	-2.64
Change in Other Net Operating Assets	-5.37	29.34	-31.03	-2.78	-0.09	-0.58
Other Operating Activities	-1.48	-1.5	-3.62	-3.48	-5.26	-6.4
Operating Cash Flow	-16.27	0.02	-98.53	-19.63	-20.17	2.84
Capital Expenditures	-0.38	-0.43	-0.75	-1.11	-1.56	-3.99
Sale of Property, Plant & Equipment	-	-	34.6	-	-	-
Investment in Securities	1.16	1.47	52.21	10.77	6.01	-0.63
Other Investing Activities	1.75	1.74	2.94	3.8	3.94	5.43
Investing Cash Flow	2.53	2.78	89	13.46	8.39	0.81
Repurchases of Common Stock	-	-	-	-4.66	-	-
Common Dividends Paid	-1.24	-1.24	-1.24	-1.24	-5.99	-5.99
Other Financing Activities	-	-	-0.39	-0.86	-	-
Financing Cash Flow	-1.24	-1.24	-1.63	-6.75	-5.99	-5.99
Miscellaneous Cash Flow Adjustments	-	-	7	-	-	-
Net Cash Flow	-14.97	1.57	-4.15	-12.93	-17.77	-2.34
Free Cash Flow	-16.65	-0.41	-99.27	-20.75	-21.74	-1.15
Free Cash Flow Margin	-10.80%	-0.25%	-89.36%	-16.43%	-13.75%	-0.66%
Free Cash Flow Per Share	-0.14	-0.00	-0.84	-0.17	-0.18	-0.01
Levered Free Cash Flow	-22.12	-3.36	-36.56	-189.93	14.31	-4.13
Unlevered Free Cash Flow	-22.12	-3.36	-36.56	-189.93	14.31	-4.13
Change in Net Working Capital	16.65	-6.58	11.16	172.83	-7.08	10

Updated Feb 13, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.