ETR:HFF 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	3,836	3,111	2,504	1,819	2,371
Depreciation & Amortization	265	248	425	547	620
Other Amortization	2,647	2,390	2,129	1,902	1,728
Gain (Loss) on Sale of Assets	-	-	-	-	18
Gain (Loss) on Sale of Investments	95	97	50	694	-507
Change in Accounts Receivable	-419	-458	-708	-562	-190
Reinsurance Recoverable	-63	-54	-155	-470	-583
Change in Income Taxes	42	-100	-29	-80	85
Change in Insurance Reserves / Liabilities	2,272	3,058	1,819	2,192	2,411
Change in Other Net Operating Assets	-282	-268	-7	-146	24
Other Operating Activities	-2,477	-2,112	-1,823	-1,895	-1,875
Operating Cash Flow	5,922	5,909	4,220	4,008	4,093
Operating Cash Flow Growth	0.22%	40.02%	5.29%	-2.08%	5.73%
Capital Expenditures	-169	-145	-215	-175	-133
Investment in Securities	-3,065	-3,366	-2,047	-537	-1,448
Other Investing Activities	-101	28	-150	58	-16
Investing Cash Flow	-3,758	-3,768	-2,431	-1,277	-2,466
Long-Term Debt Issued	-	-	-	-	588
Total Debt Issued	-	-	-	-	588
Total Debt Repaid	-	-	-	-600	-
Net Debt Issued (Repaid)	-	-	-	-600	588
Issuance of Common Stock	-	22	6	-	25
Repurchases of Common Stock	-1,633	-1,514	-1,400	-1,569	-1,702
Common Dividends Paid	-592	-556	-528	-506	-485
Preferred Dividends Paid	-21	-21	-21	-21	-21
Total Dividends Paid	-613	-577	-549	-527	-506
Financing Cash Flow	-2,235	-2,076	-1,947	-2,710	-1,581
Foreign Exchange Rate Adjustments	14	-20	3	-14	-6
Miscellaneous Cash Flow Adjustments	-	-	-	-	58
Net Cash Flow	-57	45	-155	7	98
Free Cash Flow	5,753	5,764	4,005	3,833	3,960
Free Cash Flow Growth	-0.19%	43.92%	4.49%	-3.21%	5.40%
Free Cash Flow Margin	20.27%	21.70%	16.31%	17.14%	17.72%
Free Cash Flow Per Share	20.08	19.30	12.86	11.63	11.18
Cash Interest Paid	206	211	209	212	214
Cash Income Tax Paid	863	812	622	548	496
Levered Free Cash Flow	5,812	5,137	4,735	2,944	3,611
Unlevered Free Cash Flow	5,941	5,277	4,875	3,073	3,732
Change in Working Capital	1,550	2,178	920	934	1,747

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