Manulife Financial Balance Sheet

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
Investments in Debt Securities	214,114	210,621	212,149	203,842	224,139
Investments in Equity & Preferred Securities	58,292	64,824	51,709	40,902	48,483
Policy Loans	-	-	-	-	6,397
Other Investments	88,283	71,243	65,108	67,430	57,732
Total Investments	433,262	416,917	397,658	381,275	415,157
Cash & Equivalents	26,703	25,789	20,338	19,153	22,594
Reinsurance Recoverable	60,881	59,015	42,651	45,871	44,579
Other Receivables	7,126	6,451	6,315	7,224	7,101
Separate Account Assets	461,254	435,988	377,544	348,562	399,788
Property, Plant & Equipment	2,631	2,674	2,591	2,852	1,812
Goodwill	6,877	6,275	5,919	6,014	5,651
Other Intangible Assets	5,447	4,777	4,391	4,505	4,264
Other Current Assets	4,225	3,474	2,733	2,669	2,532
Long-Term Deferred Tax Assets	5,741	5,884	6,739	6,708	5,254
Other Long-Term Assets	11,286	11,574	8,695	8,856	8,911
Total Assets	1,025,433	978,818	875,574	833,689	917,643
Insurance & Annuity Liabilities	411,532	396,401	367,996	354,849	395,392
Reinsurance Payable	3,273	2,669	2,831	2,391	-
Current Portion of Long-Term Debt	-	-	594	-	-
Current Portion of Leases	101	-	-	-	-
Current Income Taxes Payable	619	453	147	195	357
Long-Term Debt	25,042	25,115	21,320	24,381	19,691
Long-Term Leases	233	-	-	-	-
Long-Term Deferred Tax Liabilities	2,018	1,890	1,697	1,536	2,769
Separate Account Liability	461,254	435,988	377,544	348,562	399,788
Other Current Liabilities	17,466	5	43	-	-
Other Long-Term Liabilities	51,407	63,337	54,675	53,549	40,777
Total Liabilities	972,945	925,858	826,847	785,463	858,774
Preferred Stock, Convertible	2,499	2,499	2,499	2,499	3,210
Common Stock	20,103	20,681	21,527	22,178	23,093
Additional Paid-In Capital	199	204	222	238	262
Retained Earnings	5,024	4,764	4,819	3,947	23,492
Comprehensive Income & Other	23,132	23,391	18,229	17,937	7,118
Total Common Equity	48,458	49,040	44,797	44,300	53,965
Minority Interest	1,531	1,421	1,431	1,427	1,694
Shareholders' Equity	52,488	52,960	48,727	48,226	58,869
Total Liabilities & Equity	1,025,433	978,818	875,574	833,689	917,643
Filing Date Shares Outstanding	1,677	1,723	1,806	1,858	1,943
Total Common Shares Outstanding	1,677	1,729	1,806	1,858	1,943
Total Debt	25,376	25,115	21,914	24,381	19,691
Net Cash (Debt)	1,327	674	-1,576	-5,228	2,903
Net Cash Growth	96.88%	-	-	-	-
Net Cash Per Share	0.78	0.38	-0.86	-2.73	1.49
Book Value Per Share	28.89	28.37	24.80	23.84	27.78
Tangible Book Value	36,134	37,988	34,487	33,781	44,050
Tangible Book Value Per Share	21.54	21.97	19.10	18.18	22.68

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.