FRA:ORJ 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	-	852.7	598.6	686.4	1,534
Depreciation & Amortization	-	39.3	33	28.3	27.2
Gain (Loss) on Sale of Investments	-	-69.9	190.9	201.2	-758
Change in Accounts Receivable	-	-270.1	-274.4	-158.6	-174.8
Change in Unearned Revenue	-	363.4	194	157.6	103.4
Change in Income Taxes	-	20.8	-47.1	-54.7	151.4
Change in Insurance Reserves / Liabilities	-	354.9	93.4	221.5	279.8
Change in Other Net Operating Assets	-	140.6	23.8	147.2	36.9
Other Operating Activities	-	-84.9	103.4	-26.3	133.8
Operating Cash Flow	-	1,233	880.4	1,171	1,312
Operating Cash Flow Growth	-	40.09%	-24.79%	-10.76%	10.69%
Investment in Securities	-	-139.3	25.1	-402.7	-936.6
Other Investing Activities	-	-1.2	0.2	-12.3	0.1
Investing Cash Flow	-	-3.9	25.3	-415	-936.5
Long-Term Debt Issued	-	395.9	-	-	642.5
Total Debt Repaid	-	-400	-5.3	-	-21.7
Net Debt Issued (Repaid)	-	-4.1	-5.3	-	620.8
Issuance of Common Stock	-	2	31.1	26.6	60
Repurchases of Common Stock	-	-942.2	-535.3	-281.2	-
Common Dividends Paid	-	-271.9	-275.5	-271.3	-254.7
Other Financing Activities	-	-10.7	1.8	1.6	2.7
Financing Cash Flow	-	-1,227	-783.2	-832.7	-335.7
Miscellaneous Cash Flow Adjustments	-	-3.5	-0.7	-	-0.1
Net Cash Flow	-	-0.9	121.8	-77.1	39.4
Cash Interest Paid	-	77.3	66	65.8	53.4
Cash Income Tax Paid	-	196.3	198.3	226.5	236.5
Levered Free Cash Flow	-	-8,410	541.9	6,031	1,561
Unlevered Free Cash Flow	-	-8,360	583.9	6,073	1,596
Change in Working Capital	-	496.2	-45.5	281	374.4

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