MGIC Investment 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	762.99	712.95	865.35	634.98
Depreciation & Amortization	18.44	35.23	54.25	66.01
Gain (Loss) on Sale of Investments	9.85	14.14	7.46	-5.86
Stock-Based Compensation	31.32	31.61	24.77	17.11
Change in Accounts Receivable	0.96	-0.5	-1.46	-0.5
Reinsurance Recoverable	-8.28	3.12	56.86	-7.47
Change in Unearned Revenue	-37.42	-37.51	-46.4	-45.41
Change in Income Taxes	16.27	-4.14	-8.55	5.43
Change in Insurance Reserves / Liabilities	-42.72	-52.61	-325.53	2.99
Change in Other Net Operating Assets	-31.72	5.14	-15.18	-12.96
Other Operating Activities	2.43	1.07	35.83	42.1
Operating Cash Flow	725.03	712.96	650.01	696.32
Operating Cash Flow Growth	1.69%	9.68%	-6.65%	-4.92%
Capital Expenditures	-1.17	-2	-3.25	-4.12
Sale of Property, Plant & Equipment	-	2.34	-	-
Investment in Securities	-140.83	-179.53	413.74	-156.63
Investing Cash Flow	-142.01	-179.19	410.49	-160.75
Total Debt Repaid	-	-28.64	-486.41	-98.61
Net Debt Issued (Repaid)	-	-28.64	-486.41	-98.61
Repurchases of Common Stock	-588.54	-344.44	-395.67	-297.55
Common Dividends Paid	-130.5	-122.97	-110.95	-94.22
Other Financing Activities	-	-	-39.51	-36.91
Financing Cash Flow	-719.04	-496.04	-1,033	-527.29
Net Cash Flow	-136.02	37.73	27.96	8.28
Free Cash Flow	723.86	710.96	646.76	692.2
Free Cash Flow Growth	1.81%	9.93%	-6.57%	-5.05%
Free Cash Flow Margin	59.94%	61.55%	55.15%	58.38%
Free Cash Flow Per Share	2.74	2.48	2.08	1.97
Cash Interest Paid	34.1	35.1	53.7	71.7
Cash Income Tax Paid	181.8	188.2	236.5	155.3
Levered Free Cash Flow	610.84	586.4	802.63	536.37
Unlevered Free Cash Flow	633.09	609.47	832.66	580.97
Change in Working Capital	-100	-82.03	-337.66	-58.03

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