Mercury General Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	541.09	467.95	96.34	-512.67	247.94
Depreciation & Amortization	74.99	73.43	72.24	82.39	79.06
Gain (Loss) on Sale of Assets	-2.69	-13.69	-5.88	0.93	-0.02
Gain (Loss) on Sale of Investments	-131.37	-88.67	-101.01	488.08	-111.66
Change in Accounts Receivable	-54.78	-89.05	-35.62	49.63	-26.67
Reinsurance Recoverable	-81.06	3.33	-6.05	19.11	3.49
Change in Accounts Payable	32.75	69.62	29.91	-15.84	-26.72
Change in Unearned Revenue	216.11	304.17	190.02	25.84	113.93
Change in Income Taxes	25.24	11.99	60.95	-131.5	-18.1
Change in Insurance Reserves / Liabilities	481.31	366.33	200.79	358.48	235.13
Other Operating Activities	10	-26.81	-21.31	-3.63	16.48
Operating Cash Flow	1,087	1,037	453	352.59	501.58
Operating Cash Flow Growth	4.83%	128.94%	28.48%	-29.70%	-17.18%
Capital Expenditures	-58.43	-46.14	-36.81	-35.51	-41.44
Sale of Property, Plant & Equipment	34.15	12.71	29.86	0	0.03
Investment in Securities	-404.07	-806.96	-262.45	-308.75	-349.65
Other Investing Activities	8.2	43.74	-26.06	27.87	17.4
Investing Cash Flow	-420.16	-796.66	-295.45	-316.38	-373.67
Long-Term Debt Issued	-	-	175	25	-
Total Debt Repaid	-1.37	-1.53	-1.1	-1.5	-0.83
Net Debt Issued (Repaid)	-1.37	-1.53	173.9	23.5	-0.83
Issuance of Common Stock	-	0.75	-	-	0.22
Common Dividends Paid	-70.34	-70.33	-70.32	-105.48	-140.23
Financing Cash Flow	-71.72	-71.11	103.58	-81.99	-140.84
Net Cash Flow	595.32	169.35	261.13	-45.78	-12.92
Free Cash Flow	1,029	990.98	416.19	317.08	460.14
Free Cash Flow Growth	3.81%	138.11%	31.26%	-31.09%	-18.65%
Free Cash Flow Margin	17.18%	18.15%	8.99%	8.70%	11.52%
Free Cash Flow Per Share	18.57	17.89	7.52	5.73	8.31
Cash Interest Paid	28.16	30.08	23	16.67	16.62
Cash Income Tax Paid	97.32	94.94	-57.85	-26.54	69.47
Levered Free Cash Flow	2,523	720.34	266.05	-346.27	498.33
Unlevered Free Cash Flow	2,540	739.61	281.16	-335.5	509.03
Change in Working Capital	595.17	624.9	412.63	297.5	269.78

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