Great-West Lifeco Inc. (FRA:GWS)

Great-West Lifeco Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	4,120	4,070	2,868	3,726	3,262
Depreciation & Amortization	579	556	505	528	523
Gain (Loss) on Sale of Investments	-3,391	-1,227	-6,246	27,609	2,577
Change in Accounts Receivable	-371	38	-480	1,168	-
Reinsurance Recoverable	663	586	5	5,614	1,915
Change in Insurance Reserves / Liabilities	5,024	5,636	9,316	-25,355	1,819
Change in Other Net Operating Assets	3,132	-5,538	-4,561	-8,124	845
Other Operating Activities	-6,652	964	3,869	-3,553	10
Operating Cash Flow	2,708	4,751	4,828	3,772	10,373
Operating Cash Flow Growth	-43.00%	-1.59%	28.00%	-63.64%	7.94%
Cash Acquisitions	-	-76	-563	-2,155	-380
Investment in Securities	-56	-121	-223	-63	-8,668
Other Investing Activities	-	-211	-	-	-
Investing Cash Flow	-56	-408	-786	-2,218	-11,212
Long-Term Debt Issued	138	-	61	1,792	63
Total Debt Repaid	-689	-60	-1,469	-495	-831
Net Debt Issued (Repaid)	-551	-60	-1,408	1,297	-768
Issuance of Common Stock	99	88	158	43	1,597
Repurchases of Common Stock	-1,653	-114	-233	-	-
Issuance of Preferred Stock	200	-	-	-	200
Repurchases of Preferred Stock	-	-	-	-	-194
Common Dividends Paid	-2,253	-2,069	-1,937	-1,826	-1,677
Preferred Dividends Paid	-160	-130	-130	-130	-134
Total Dividends Paid	-2,413	-2,199	-2,067	-1,956	-1,811
Other Financing Activities	-4	-	-	-4	-16
Financing Cash Flow	-4,322	-2,285	-3,550	-620	-992
Foreign Exchange Rate Adjustments	-137	534	-40	281	-40
Net Cash Flow	-1,807	2,592	452	1,215	-1,871
Cash Interest Paid	389	410	453	408	348
Cash Income Tax Paid	764	707	423	348	351
Levered Free Cash Flow	-5,040	-5,230	-9,019	-32,728	1,945
Unlevered Free Cash Flow	-2,840	-2,614	-6,624	-30,650	2,140
Change in Working Capital	8,568	837	4,450	-27,929	4,495

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