Old Republic International Corporation (FRA:ORJ)

FRA:ORJ Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	941.9	852.7	598.6	686.4	1,534
Other Adjustments	-150.6	-115.3	327.2	203.1	-597.1
Changes in Receivables	-278.6	-270.1	-274.4	-158.6	-174.8
Changes in Reinsurance Contract Assets	12.6	140.6	23.8	147.2	36.9
Changes in Deferred Acquisition Costs	-104.9	-113.4	-35.2	-32	-22.3
Changes in Unearned Premiums	260.6	363.4	194	157.6	103.4
Changes in Claims Reserves	438.1	354.9	93.4	221.5	279.8
Changes in Income Taxes Payable	45.1	20.8	-47.1	-54.7	151.4
Operating Cash Flow	1,164	1,233	880.4	1,171	1,312
Operating Cash Flow Growth	-5.60%	40.09%	-24.79%	-10.76%	10.69%
Purchases of Investments	-2,915	-4,142	-3,118	-5,127	-3,418
Proceeds from Sale of Investments	2,939	4,393	3,506	5,020	2,298
Proceeds from Business Divestments	-	136.6	-	-	-
Other Investing Activities	-201.4	-391.7	-362.3	-308	183.9
Investing Cash Flow	-177.2	-3.9	25.3	-415	-936.5
Long-Term Debt Issued	-	395.9	-	-	642.5
Long-Term Debt Repaid	-	-400	-5.3	-	-21.7
Net Long-Term Debt Issued (Repaid)	-	-4.1	-5.3	-	620.8
Issuance of Common Stock	3.8	2	31.1	26.6	60
Repurchase of Common Stock	-123.8	-942.2	-535.3	-281.2	-
Net Common Stock Issued (Repurchased)	-120	-940.2	-504.2	-254.6	60
Common Dividends Paid	-782.6	-271.9	-275.5	-579.7	-1,019
Other Financing Activities	-23.1	-10.7	1.8	1.5	2.5
Financing Cash Flow	-925.7	-1,227	-783.2	-832.7	-335.7
Net Cash Flow	61.3	2.4	122.5	-77.1	39.4
Free Cash Flow	1,164	1,233	880.4	1,171	1,312
Free Cash Flow Growth	-5.60%	40.09%	-24.79%	-10.76%	10.69%
FCF Margin	12.74%	14.98%	12.13%	14.48%	14.04%
Free Cash Flow Per Share	4.63	4.69	3.08	3.86	4.32
Levered Free Cash Flow	1,155	1,260	728.8	904.5	2,425
Unlevered Free Cash Flow	-1,750	1,264	734.34	904.76	1,804

Updated Dec 31, 2025. Data Source: Fiscal.ai. Insurance template. Financial Sources.