Great-West Lifeco Balance Sheet

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

Millions CAD. 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
Investments in Debt Securities	13,669	13,758	11,750	12,701	36,799	34,700
Investments in Equity & Preferred Securities	2,084	1,930	843	638	914	665
Policy Loans	-	-	-	-	8,319	8,387
Total Investments	242,705	237,053	222,274	219,004	201,607	192,096
Cash & Equivalents	10,736	9,564	7,053	6,411	4,772	5,060
Reinsurance Recoverable	17,311	17,842	17,332	17,571	21,138	22,121
Other Receivables	8,068	7,793	6,984	6,369	7,067	6,651
Deferred Policy Acquisition Cost	-	1,065	913	923	615	618
Separate Account Assets	546,979	496,386	422,956	387,882	357,419	334,032
Property, Plant & Equipment	1,221	1,446	1,374	1,494	1,547	1,604
Goodwill	11,341	11,428	11,249	10,611	9,081	10,106
Other Intangible Assets	4,923	4,958	4,484	6,230	5,514	4,285
Restricted Cash	-	1,145	689	879	1,303	2,886
Other Current Assets	1,969	2,322	6,646	2,347	883	613
Long-Term Deferred Tax Assets	2,192	2,066	1,848	1,470	1,057	975
Other Long-Term Assets	11,231	9,095	9,428	11,015	18,485	19,443
Total Assets	858,676	802,163	713,230	672,206	630,488	600,490
Accounts Payable	3,516	3,524	3,216	2,758	3,032	2,698
Insurance & Annuity Liabilities	160,458	155,683	144,388	135,438	208,378	208,902
Reinsurance Payable	965	795	648	537	1,542	1,648
Current Portion of Long-Term Debt	-	340	338	-	-	-
Current Portion of Leases	-	63	-	79	83	88
Short-Term Debt	-	523	435	1,151	593	1,414
Current Income Taxes Payable	436	294	137	152	193	343
Long-Term Debt	8,737	13,116	11,964	9,632	8,618	8,723
Long-Term Leases	-	317	361	428	439	480
Long-Term Deferred Tax Liabilities	896	834	787	773	1,089	646
Separate Account Liability	546,979	496,386	422,956	387,882	357,419	334,032
Other Current Liabilities	2,365	1,797	3,357	8,041	4,861	3,381
Other Long-Term Liabilities	101,109	95,076	93,955	95,684	12,455	9,145
Total Liabilities	825,461	769,509	683,379	643,411	600,005	573,475
Preferred Stock, Redeemable	2,920	2,720	2,720	2,720	2,720	2,714
Common Stock	6,040	6,071	6,000	5,791	5,748	5,651
Additional Paid-In Capital	-	208	234	209	192	186
Retained Earnings	17,690	17,266	15,492	14,976	16,424	14,990
Comprehensive Income & Other	3,409	3,276	2,390	2,213	2,132	487
Total Common Equity	27,139	26,821	24,116	23,189	24,496	21,314
Minority Interest	3,156	3,113	3,015	2,886	3,267	2,987
Shareholders' Equity	33,215	32,654	29,851	28,795	30,483	27,015
Total Liabilities & Equity	858,676	802,163	713,230	672,206	630,488	600,490
Filing Date Shares Outstanding	920.33	932.11	932.43	931.85	930.62	927.85
Total Common Shares Outstanding	920.33	932.11	932.43	931.85	930.62	927.85
Total Debt	8,737	14,359	13,098	11,290	9,733	10,705
Net Cash (Debt)	1,999	-4,795	-6,045	-4,879	-4,961	-5,645
Net Cash Per Share	2.14	-5.13	-6.48	-5.23	-5.33	-6.08
Book Value Per Share	29.49	28.77	25.86	24.88	26.32	22.97
Tangible Book Value	10,875	10,435	8,383	6,348	9,901	6,923
Tangible Book Value Per Share	11.82	11.20	8.99	6.81	10.64	7.46

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