AXIS Capital Holdings 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	2015 - 2019
Period Ending	Sep '25 Sep 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	2015 - 2019
Net Income	1,013	1,082	376.29	223.08	618.61	-120.42	Upgrade
Depreciation & Amortization	54.29	55.31	75.55	68.29	66.98	65.8	Upgrade
Other Amortization	-	-	-	-	3.85	5.14	Upgrade
Gain (Loss) on Sale of Investments	-33.22	58.54	34.78	427.17	-278.77	-112.3	Upgrade
Stock-Based Compensation	43.39	42.73	54.12	48.49	37.74	29.01	Upgrade
Reinsurance Recoverable	-2,484	-547.21	-554.69	-732.83	-738.02	-723.86	Upgrade
Change in Unearned Revenue	556.49	482.87	388.75	287.08	409.86	63	Upgrade
Change in Insurance Reserves / Liabilities	734.34	841.73	1,273	544.46	737.34	1,178	Upgrade
Change in Other Net Operating Assets	-121.57	-78.48	-409.58	-55.17	406.57	-105.59	Upgrade
Operating Cash Flow	-315.75	1,845	1,256	798.04	1,198	343.5	Upgrade
Operating Cash Flow Growth	-	46.93%	57.33%	-33.37%	248.67%	72.61%	Upgrade
Investment in Securities	936.02	168.81	-486.13	-586.31	-1,075	694.72	Upgrade
Other Investing Activities	208.51	230.1	-31.14	-36.83	-38.73	-44.66	Upgrade
Investing Cash Flow	1,103	280.45	-855.61	-761.62	-1,197	489.92	Upgrade
Long-Term Debt Issued	-	-	5.25	78.95	-	-	Upgrade
Total Debt Repaid	-9.2	-19.41	-	-	-	-500	Upgrade
Net Debt Issued (Repaid)	-9.2	-19.41	5.25	78.95	-	-500	Upgrade
Repurchases of Common Stock	-686.67	-215.87	-23.6	-48.98	-10.24	-10.38	Upgrade
Repurchases of Preferred Stock	-	-	-	-	-	-225	Upgrade
Common Dividends Paid	-145.9	-151.77	-153.78	-149.34	-145.6	-141.59	Upgrade
Preferred Dividends Paid	-30.25	-30.25	-30.25	-30.25	-30.25	-31.83	Upgrade
Total Dividends Paid	-176.15	-182.02	-184.03	-179.59	-175.85	-173.42	Upgrade
Financing Cash Flow	-872.02	-417.29	-202.37	-149.62	-186.1	-908.8	Upgrade
Foreign Exchange Rate Adjustments	-28.27	-28.34	11.75	-29.83	-0.07	2.15	Upgrade
Net Cash Flow	-113.25	1,680	209.33	-143.04	-185.54	-73.23	Upgrade
Cash Interest Paid	62.73	64.18	63.6	59.89	59.4	54.11	Upgrade
Cash Income Tax Paid	138.29	80.56	77.48	33.42	45.08	4.41	Upgrade
Levered Free Cash Flow	-609.42	-11,180	944.97	-80.56	1,066	529.7	Upgrade
Unlevered Free Cash Flow	-567.81	-11,138	987.74	-41.09	1,105	576.61	Upgrade
Change in Working Capital	-1,382	624.4	718.98	33	781.36	472.67	Upgrade

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