Beazley Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	979	1,130	1,027	483.3	308.7	-46.1
Depreciation & Amortization	28	28	30	42.2	28	24.8
Other Amortization	11.1	11.1	16.2	0.7	12.4	8.1
Gain (Loss) on Sale of Investments	-312.2	-227.3	-325.2	274.4	-45.8	-83
Stock-Based Compensation	-	-	-	-	11	2.8
Change in Accounts Receivable	601.1	627.1	545.9	226.7	-950.1	-782.1
Change in Insurance Reserves / Liabilities	-	-	-	-	1,901	1,487
Change in Other Net Operating Assets	-55.8	-294.9	-63.5	71.9	-	-
Other Operating Activities	-547.1	-639.4	-837	-1,228	0.7	-101.5
Operating Cash Flow	704.1	634.9	393.2	-129.1	1,170	476.8
Operating Cash Flow Growth	81.00%	61.47%	-	-	145.28%	3.61%
Capital Expenditures	-14.3	-17.8	-4.3	-1	-4.5	-12.9
Purchase / Sale of Intangible Assets	-36.2	-45	-50.9	-22.7	-17.7	-20.5
Investment in Securities	-	-	-	-	-942	-682.8
Other Investing Activities	-	-	-	-	70.6	104.3
Investing Cash Flow	-50.5	-62.8	-55.2	-23.7	-839.2	-611.9
Total Debt Repaid	-4.6	-11.8	-8.9	-11.6	-12.8	-15.3
Net Debt Issued (Repaid)	-4.6	-11.8	-8.9	-11.6	-12.8	-15.3
Issuance of Common Stock	-	-	-	404.4	-	294.7
Repurchases of Common Stock	-402.4	-344	-33.6	-17.8	-	-13.6
Common Dividends Paid	-211	-120.5	-107.7	-103	-	-50.2
Other Financing Activities	-40.8	-39.3	-40.6	-36.3	-35.2	-37.8
Financing Cash Flow	-658.8	-515.6	-190.8	235.7	-48	177.8
Foreign Exchange Rate Adjustments	45.5	13.3	12.6	-22.2	-	-11.7
Net Cash Flow	40.3	69.8	159.8	60.7	282.3	31
Free Cash Flow	689.8	617.1	388.9	-130.1	1,165	463.9
Free Cash Flow Growth	81.86%	58.68%	-	-	151.13%	2.20%
Free Cash Flow Margin	11.67%	10.44%	7.63%	-3.19%	35.39%	15.94%
Free Cash Flow Per Share	1.06	0.93	0.57	-0.21	1.90	0.80
Cash Interest Paid	40.8	39.3	40.6	36.3	35.2	37.8
Cash Income Tax Paid	342.3	301.2	110.7	61.1	22.2	26.5
Levered Free Cash Flow	-497.3	-713.13	-768.11	-8,724	284.05	-139.83
Unlevered Free Cash Flow	-249.11	-455.75	-505.8	-8,604	308.36	-114.7
Change in Working Capital	545.3	332.2	482.4	298.6	857.8	670.6

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