ASR Nederland Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	548	958	1,086	-1,709	942
Depreciation & Amortization	150	113	78	48	30
Other Amortization	-	-	-	-	22
Gain (Loss) on Sale of Investments	1,607	523	59	6	-86
Change in Accounts Receivable	-1,440	616	2,281	-3,477	-2,626
Reinsurance Recoverable	277	-48	31	141	66
Change in Insurance Reserves / Liabilities	1,150	-1,665	-1,261	-12,069	-545
Change in Other Net Operating Assets	-3,085	-1,785	844	16,891	2,255
Other Operating Activities	186	577	451	-815	138
Operating Cash Flow	-569	-699	3,597	-961	198
Operating Cash Flow Growth	-	-	-	-	-44.07%
Capital Expenditures	-18	-25	-29	-179	-386
Sale of Property, Plant & Equipment	1	1	-	1	-
Purchase / Sale of Intangible Assets	-14	-5	-5	-11	-1
Cash Acquisitions	-110	1	2,255	-13	-88
Investment in Securities	-28	-15	-20	-	13
Other Investing Activities	-	-	-	-	-1
Investing Cash Flow	-72	-1,941	2,201	-202	-463
Long-Term Debt Issued	509	310	1,165	987	113
Total Debt Repaid	-927	-599	-753	-13	-16
Net Debt Issued (Repaid)	-418	-289	412	974	97
Issuance of Common Stock	500	500	-	586	-
Repurchases of Common Stock	-236	-605	-5	-71	-79
Common Dividends Paid	-667	-626	-482	-347	-285
Other Financing Activities	-32	-56	-55	-38	-25
Financing Cash Flow	-853	-1,076	-130	1,104	-292
Foreign Exchange Rate Adjustments	9	-	-4	-	-
Net Cash Flow	-1,485	-3,716	5,664	-59	-557
Free Cash Flow	-587	-724	3,568	-1,140	-188
Free Cash Flow Margin	-3.43%	-4.79%	28.49%	-28.79%	-1.93%
Free Cash Flow Per Share	-2.57	-3.12	17.80	-8.32	-1.19
Cash Interest Paid	5,703	3,587	2,188	383	370
Cash Income Tax Paid	32	102	82	202	131
Levered Free Cash Flow	990	-10,698	-30,556	-41,140	5,155
Unlevered Free Cash Flow	1,209	-10,419	-30,388	-41,080	5,368
Change in Working Capital	-3,098	-2,882	1,895	1,486	-850

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.