FRA:PGV 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	-	8,480	3,903	722	3,351
Depreciation & Amortization	-	284	285	306	337.4
Gain (Loss) on Sale of Assets	-	13	36	-1	-3.6
Gain (Loss) on Sale of Investments	-	-294	-312	1,887	-1,379
Stock-Based Compensation	-	122	121	123	100.7
Change in Accounts Receivable	-	-2,411	-1,541	-1,017	-1,147
Reinsurance Recoverable	-	329	738	-852	-508.7
Change in Accounts Payable	-	1,236	700	199	399.7
Change in Unearned Revenue	-	3,724	2,840	1,678	2,111
Change in Income Taxes	-	-358	181	-515	-86
Change in Insurance Reserves / Liabilities	-	4,668	4,030	4,195	4,753
Change in Other Net Operating Assets	-	-400	-195	88	-48.8
Operating Cash Flow	-	15,119	10,643	6,849	7,762
Operating Cash Flow Growth	-	42.06%	55.40%	-11.76%	12.40%
Capital Expenditures	-	-285	-252	-292	-243.5
Sale of Property, Plant & Equipment	-	77	47	35	66.2
Cash Acquisitions	-	-	-	-	-313.2
Investment in Securities	-	-13,712	-10,626	-7,521	-2,677
Other Investing Activities	-	171	-11	-178	47.9
Investing Cash Flow	-	-13,749	-10,842	-7,956	-3,120
Long-Term Debt Issued	-	-	496	1,486	-
Total Debt Repaid	-	-	-	-	-520
Net Debt Issued (Repaid)	-	-	496	1,486	-520
Repurchases of Common Stock	-	-134	-141	-99	-223
Repurchases of Preferred Stock	-	-500	-	-	-
Common Dividends Paid	-	-674	-234	-234	-3,747
Preferred Dividends Paid	-	-8	-43	-27	-26.8
Total Dividends Paid	-	-682	-277	-261	-3,773
Financing Cash Flow	-	-1,316	78	1,126	-4,516
Net Cash Flow	-	54	-121	19	125.6
Free Cash Flow	-	14,834	10,391	6,557	7,518
Free Cash Flow Growth	-	42.76%	58.47%	-12.78%	12.51%
Free Cash Flow Margin	-	19.69%	16.74%	13.22%	15.77%
Free Cash Flow Per Share	-	25.24	17.69	11.17	12.81
Cash Interest Paid	-	276	265	229	224
Cash Income Tax Paid	-	2,585	821	719	842.4
Levered Free Cash Flow	-	17,324	11,514	3,310	10,725
Unlevered Free Cash Flow	-	17,498	11,682	3,462	10,861
Change in Working Capital	-	6,514	6,610	3,587	5,355

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