Definity Financial Cash Flow Statement

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

Millions CAD. 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	418.2	430.4	350.1	110.9	213.2
Depreciation & Amortization	53.8	47.8	35.6	73	11.1
Other Amortization	82.7	77.5	70.3	-	43.4
Gain (Loss) on Sale of Assets	-5.9	-	-	-	-
Gain (Loss) on Sale of Investments	-183.8	-243.4	-170.2	454.5	-
Stock-Based Compensation	30.8	23.1	20.5	20.9	-
Reinsurance Recoverable	-20.5	-15.8	-25.3	-66.7	-
Change in Accounts Payable	-5.6	-25.6	-15	0.3	-
Change in Insurance Reserves / Liabilities	198.4	109.5	-83.9	-91.2	-
Change in Other Net Operating Assets	-34.5	-2.6	-14.7	-9.4	-
Other Operating Activities	-17.4	-95.4	184.3	-180.1	387.5
Operating Cash Flow	512.6	307.2	351.8	305.8	655.2
Operating Cash Flow Growth	66.86%	-12.68%	15.04%	-53.33%	33.66%
Capital Expenditures	-99.6	-75.6	-87.5	-90.8	-
Sale of Property, Plant & Equipment	22.1	-	-	-	-
Cash Acquisitions	-150.8	-158.7	-409.3	-242	-
Investment in Securities	-1,443	-65.7	151.5	-54.2	-1,008
Other Investing Activities	-	-	-	-	-49.4
Investing Cash Flow	-1,658	-298	-351.9	-374.7	-1,044
Short-Term Debt Issued	-	110.1	-	-	-
Long-Term Debt Issued	996.3	-	114.3	-	-
Total Debt Issued	996.3	110.1	114.3	-	-
Total Debt Repaid	-110.1	-	-39.1	-1	-
Net Debt Issued (Repaid)	886.2	110.1	75.2	-1	-
Issuance of Common Stock	389	-	-	-	2,286
Repurchases of Common Stock	-12.2	-68.3	-13.9	-53.6	-
Common Dividends Paid	-88.5	-73.7	-63.2	-63.3	-1,909
Other Financing Activities	-9.8	-81.9	-59.1	191.3	-
Financing Cash Flow	1,165	-113.8	-61	73.4	376.8
Net Cash Flow	19	-104.6	-61.1	4.5	-12.2
Free Cash Flow	413	231.6	264.3	215	655.2
Free Cash Flow Growth	78.33%	-12.37%	22.93%	-67.19%	33.66%
Free Cash Flow Margin	8.77%	5.37%	6.84%	7.05%	22.12%
Free Cash Flow Per Share	3.47	1.99	2.27	1.84	6.22
Cash Interest Paid	10.6	9.5	5.3	0.6	-
Cash Income Tax Paid	204.8	243.7	-65.4	116.8	47.8
Levered Free Cash Flow	-535.6	713.19	3,610	-4,574	649.9
Unlevered Free Cash Flow	-521.29	719.19	3,613	-4,574	649.9
Change in Working Capital	137.8	65.5	-138.9	-167	-

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