Manulife Financial Cash Flow Statement

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
Net Income	5,905	5,631	5,463	-1,979	6,657	5,326
Depreciation & Amortization	816	612	364	284	381	467
Other Amortization	257	257	217	235	148	189
Gain (Loss) on Sale of Assets	-4,345	-860	-2,845	13,660	4,824	-22,521
Gain (Loss) on Sale of Investments	-363	-290	-141	-226	181	154
Stock-Based Compensation	-	-	2	5	9	14
Change in Accounts Receivable	17,242	13,565	6,641	4,958	-690	1,103
Reinsurance Recoverable	-	-	-	-1,377	-	-
Other Operating Activities	11,115	7,579	10,722	1,068	11,645	35,316
Operating Cash Flow	30,627	26,494	20,423	16,628	23,155	20,048
Operating Cash Flow Growth	19.95%	29.73%	22.82%	-28.19%	15.50%	-2.40%
Cash Acquisitions	27	-297	-1	-182	-19	-
Other Investing Activities	573	290	21	-67	-186	-1,017
Investing Cash Flow	-23,985	-18,459	-13,720	-18,400	-24,442	-14,148
Long-Term Debt Issued	-	3,718	1,731	1,729	212	5,845
Total Debt Repaid	-1,851	-2,004	-1,391	-1,120	-2,192	-2,036
Net Debt Issued (Repaid)	1,618	1,714	340	609	-1,980	3,809
Issuance of Common Stock	93	144	94	23	51	36
Repurchases of Common Stock	-3,204	-3,272	-1,595	-1,884	-	-253
Issuance of Preferred Stock	-	-	-	990	3,171	-
Repurchases of Preferred Stock	-	-	-	-725	-625	-
Common Dividends Paid	-2,942	-2,848	-2,669	-2,513	-2,272	-2,169
Preferred Dividends Paid	-319	-311	-303	-260	-215	-171
Total Dividends Paid	-3,261	-3,159	-2,972	-2,773	-2,487	-2,340
Other Financing Activities	807	399	-909	1,652	-177	-589
Financing Cash Flow	-3,947	-4,174	-5,042	-2,108	-2,047	663
Foreign Exchange Rate Adjustments	331	1,197	-412	585	-319	-528
Net Cash Flow	3,026	5,058	1,249	-3,295	-3,653	6,035
Cash Interest Paid	1,536	1,574	1,548	955	981	1,188
Cash Income Tax Paid	768	755	436	1,238	571	1,358
Levered Free Cash Flow	2,021	4,763	9,171	8,771	-	-
Unlevered Free Cash Flow	2,987	5,814	10,143	9,428	-	-
Change in Working Capital	17,242	13,565	6,641	3,581	-690	1,103

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