Old Republic International Corporation (FRA:ORJ)

FRA:ORJ Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	834.1	852.7	598.6	686.4	1,534	558.6
Depreciation & Amortization	39.3	39.3	33	28.3	27.2	26.9
Gain (Loss) on Sale of Investments	2	-69.9	190.9	201.2	-758	142
Change in Accounts Receivable	-290.2	-270.1	-274.4	-158.6	-174.8	-123.4
Change in Accounts Payable	-	-	-	-	-	176.2
Change in Unearned Revenue	283.9	363.4	194	157.6	103.4	34.6
Change in Income Taxes	8	20.8	-47.1	-54.7	151.4	-18.3
Change in Insurance Reserves / Liabilities	369.6	354.9	93.4	221.5	279.8	340.7
Change in Other Net Operating Assets	199.1	140.6	23.8	147.2	36.9	77
Other Operating Activities	-48.6	-84.9	103.4	-26.3	133.8	-26.8
Operating Cash Flow	1,291	1,233	880.4	1,171	1,312	1,185
Operating Cash Flow Growth	11.77%	40.09%	-24.79%	-10.76%	10.69%	26.58%
Investment in Securities	-141.4	-139.3	25.1	-402.7	-936.6	-844.8
Other Investing Activities	2.3	-1.2	0.2	-12.3	0.1	-0.4
Investing Cash Flow	-139.1	-3.9	25.3	-415	-936.5	-845.2
Long-Term Debt Issued	-	395.9	-	-	642.5	-
Total Debt Repaid	-400	-400	-5.3	-	-21.7	-8.6
Net Debt Issued (Repaid)	-400	-4.1	-5.3	-	620.8	-8.6
Issuance of Common Stock	3.5	2	31.1	26.6	60	6.7
Repurchases of Common Stock	-243	-942.2	-535.3	-281.2	-	-
Common Dividends Paid	-776.7	-271.9	-275.5	-271.3	-254.7	-250.1
Other Financing Activities	-18.2	-10.7	1.8	1.6	2.7	-48
Financing Cash Flow	-1,434	-1,227	-783.2	-832.7	-335.7	-300
Miscellaneous Cash Flow Adjustments	-0.2	-3.5	-0.7	-	-0.1	0.1
Net Cash Flow	-282.6	-0.9	121.8	-77.1	39.4	39.9
Cash Interest Paid	69.3	77.3	66	65.8	53.4	41.4
Cash Income Tax Paid	205.9	196.3	198.3	226.5	236.5	149.3
Levered Free Cash Flow	2,277	-8,410	541.9	6,031	1,561	650.01
Unlevered Free Cash Flow	2,322	-8,360	583.9	6,073	1,596	677.33
Change in Working Capital	464.3	496.2	-45.5	281	374.4	484.3

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