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	-	3,111	2,504	1,819	2,371
Depreciation & Amortization	-	248	425	547	620
Other Amortization	-	2,390	2,129	1,902	1,728
Gain (Loss) on Sale of Assets	-	-	-	-	18
Gain (Loss) on Sale of Investments	-	97	50	694	-507
Change in Accounts Receivable	-	-458	-708	-562	-190
Reinsurance Recoverable	-	-54	-155	-470	-583
Change in Income Taxes	-	-100	-29	-80	85
Change in Insurance Reserves / Liabilities	-	3,058	1,819	2,192	2,411
Change in Other Net Operating Assets	-	-268	-7	-146	24
Other Operating Activities	-	-2,112	-1,823	-1,895	-1,875
Operating Cash Flow	-	5,909	4,220	4,008	4,093
Operating Cash Flow Growth	-	40.02%	5.29%	-2.08%	5.73%
Capital Expenditures	-	-145	-215	-175	-133
Investment in Securities	-	-3,366	-2,047	-537	-1,448
Other Investing Activities	-	28	-150	58	-16
Investing Cash Flow	-	-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	-	-1,514	-1,400	-1,569	-1,702
Common Dividends Paid	-	-556	-528	-506	-485
Preferred Dividends Paid	-	-21	-21	-21	-21
Total Dividends Paid	-	-577	-549	-527	-506
Financing Cash Flow	-	-2,076	-1,947	-2,710	-1,581
Foreign Exchange Rate Adjustments	-	-20	3	-14	-6
Miscellaneous Cash Flow Adjustments	-	-	-	-	58
Net Cash Flow	-	45	-155	7	98
Free Cash Flow	-	5,764	4,005	3,833	3,960
Free Cash Flow Growth	-	43.92%	4.49%	-3.21%	5.40%
Free Cash Flow Margin	-	21.70%	16.31%	17.14%	17.72%
Free Cash Flow Per Share	-	19.30	12.86	11.63	11.18
Cash Interest Paid	-	211	209	212	214
Cash Income Tax Paid	-	812	622	548	496
Levered Free Cash Flow	-	5,137	4,735	2,944	3,611
Unlevered Free Cash Flow	-	5,277	4,875	3,073	3,732
Change in Working Capital	-	2,178	920	934	1,747

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