FRA:F1EF 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	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
Net Income	1,169	1,270	517	1,294	2,797	1,427
Depreciation & Amortization	755	739	593	491	432	296
Other Amortization	62	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	14	9
Gain (Loss) on Sale of Investments	-119	-341	542	530	-588	80
Stock-Based Compensation	98	82	60	49	42	39
Change in Accounts Receivable	-43	-43	37	178	-120	-83
Reinsurance Recoverable	24	-13	78	276	59	40
Change in Income Taxes	66	83	-50	66	140	24
Change in Insurance Reserves / Liabilities	1,739	1,796	1,285	998	887	22
Change in Other Net Operating Assets	-160	-294	-26	-385	199	-85
Other Operating Activities	-1,473	-372	-49	-1,337	-664	-161
Operating Cash Flow	5,817	6,815	6,478	4,355	4,090	1,578
Operating Cash Flow Growth	-23.29%	5.20%	48.75%	6.48%	159.19%	40.77%
Capital Expenditures	-143	-146	-132	-138	-131	-110
Cash Acquisitions	-76	-586	-299	-180	-100	-1,076
Investment in Securities	-8,941	-7,137	-8,643	-10,121	-7,207	-1,308
Other Investing Activities	-12	7	-16	-85	-11	5
Investing Cash Flow	-9,172	-7,862	-9,090	-10,524	-7,449	-2,331
Long-Term Debt Issued	-	1,068	851	550	449	2,246
Total Debt Repaid	-365	-365	-185	-	-	-
Net Debt Issued (Repaid)	528	703	666	550	449	2,246
Issuance of Common Stock	125	21	15	39	48	62
Repurchases of Common Stock	-255	-34	-41	-568	-480	-244
Common Dividends Paid	-547	-532	-500	-489	-446	-389
Other Financing Activities	-448	-536	-209	-517	194	-1,219
Financing Cash Flow	1,879	1,759	3,093	4,095	5,000	2,096
Net Cash Flow	-1,476	712	481	-2,074	1,641	1,343
Free Cash Flow	5,674	6,669	6,346	4,217	3,959	1,468
Free Cash Flow Growth	-23.70%	5.09%	50.49%	6.52%	169.69%	43.22%
Free Cash Flow Margin	40.36%	48.63%	53.83%	36.34%	25.30%	13.57%
Free Cash Flow Per Share	20.84	24.43	23.42	15.22	13.79	5.13
Cash Interest Paid	216	200	157	125	112	73
Cash Income Tax Paid	270	237	216	387	653	315
Levered Free Cash Flow	690.13	76.13	2,621	-764.5	3,363	2,866
Unlevered Free Cash Flow	838.88	206.75	2,729	-692.63	3,435	2,922
Change in Working Capital	5,174	5,324	4,710	3,189	2,015	-97

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