BAX:ARIG Cash Flow Statement

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

Millions USD. 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	3.91	26.44	13.98	29.18	24.07
Depreciation & Amortization	0.35	0.32	0.51	0.49	0.58
Change in Accounts Receivable	-3.36	-0.52	2.7	-3.92	12.79
Change in Other Net Operating Assets	-3.01	-32.29	-31.97	-49.53	-118.45
Other Operating Activities	-0.57	-0.38	-0.17	-0.21	-0.23
Operating Cash Flow	-2.68	-6.42	-14.95	-23.99	-81.25
Capital Expenditures	-0.18	-0.02	-	-0.03	-0.01
Sale of Property, Plant & Equipment	-	-	3.82	-	-
Purchase / Sale of Intangible Assets	-	-0.02	-	-0.02	-
Investment in Securities	3.31	19.95	-21.22	36.54	42.13
Other Investing Activities	12.28	23.74	13.55	14.18	20.76
Investing Cash Flow	15.41	43.66	3.04	50.67	62.89
Common Dividends Paid	-24.76	-39.62	-9.91	-4.95	-
Other Financing Activities	-	-5.52	-	0.05	-4.6
Financing Cash Flow	-24.76	-45.14	-9.91	-4.9	-4.6
Foreign Exchange Rate Adjustments	-	-	0	0	-0.01
Net Cash Flow	-12.04	-7.91	-21.81	21.78	-22.97
Free Cash Flow	-2.86	-6.44	-14.95	-24.02	-81.26
Free Cash Flow Margin	-22.80%	-35.26%	-86.57%	-172.06%	-347.13%
Free Cash Flow Per Share	-0.01	-0.03	-0.07	-0.12	-0.41
Levered Free Cash Flow	1.59	20.12	3.57	-108.97	22.06
Unlevered Free Cash Flow	3.52	23.61	7.26	-107.85	22.06
Change in Working Capital	-6.37	-32.81	-29.27	-53.46	-105.66

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.