Horace Mann Educators Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	102.8	45	19.8	170.4
Depreciation & Amortization	26.4	26.2	27.6	18.4
Gain (Loss) on Sale of Investments	17.3	24	56.5	11
Stock-Based Compensation	9.9	9.5	8.9	8.4
Reinsurance Recoverable	55.7	-12.5	-309.8	7.4
Change in Income Taxes	28.2	-15	110.5	-91.2
Change in Insurance Reserves / Liabilities	82.8	186.7	334.2	114.5
Change in Other Net Operating Assets	93.5	52.7	-99.2	7.5
Operating Cash Flow	452.1	302.1	171.5	204.9
Operating Cash Flow Growth	49.65%	76.15%	-16.30%	-21.13%
Cash Acquisitions	-	-	-164.4	-
Investment in Securities	-143	-116.6	-40.6	-291.8
Other Investing Activities	7.2	9.2	-9.6	-10.2
Investing Cash Flow	-135.8	-107.4	-214.6	-302
Short-Term Debt Issued	2.5	-	9.9	114.3
Long-Term Debt Issued	-	297.7	-	5
Total Debt Issued	2.5	297.7	9.9	119.3
Total Debt Repaid	-270	-441	-154	-416
Net Debt Issued (Repaid)	-267.5	-143.3	-144.1	-296.7
Issuance of Common Stock	5.1	-	-	0.3
Repurchases of Common Stock	-10.4	-8.3	-26.4	-7.3
Common Dividends Paid	-55.5	-53.9	-52.6	-51.4
Other Financing Activities	-150.4	-193.8	3.2	-39.2
Financing Cash Flow	-307.9	-207.8	-47.8	208.5
Net Cash Flow	8.4	-13.1	-90.9	111.4
Cash Interest Paid	33.5	30.1	18.2	13.5
Cash Income Tax Paid	22.1	14	8.6	23.7
Levered Free Cash Flow	297.18	208.31	-545.89	-85.79
Unlevered Free Cash Flow	318.8	226.88	-533.76	-77.1
Change in Working Capital	260.2	211.9	35.7	38.2

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