LON:0J3H 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	3,836	3,111	2,504	1,819	2,371
Depreciation & Amortization	396	356	510	625	680
Other Adjustments	248	390	401	745	-634
Changes in Receivables	-419	-458	-708	-562	-190
Changes in Reinsurance Contract Assets	-63	-54	-155	-470	-583
Changes in Deferred Acquisition Costs	-108	-126	-115	-115	-71
Changes in Claims Reserves	2,272	3,058	1,819	2,192	2,411
Changes in Income Taxes Payable	42	-100	-29	-80	85
Changes in Other Operating Activities	-282	-268	-7	-146	24
Operating Cash Flow	5,922	5,909	4,220	4,008	4,093
Operating Cash Flow Growth	0.22%	40.02%	5.29%	-2.08%	5.73%
Capital Expenditures	-169	-145	-215	-175	-133
Purchases of Investments	-15,929	-15,808	-12,309	-18,533	-27,037
Proceeds from Sale of Investments	12,590	12,237	10,312	17,533	25,126
Proceeds from Business Divestments	-	-	-	-	11
Other Investing Activities	-250	-52	-219	-102	-433
Investing Cash Flow	-3,758	-3,768	-2,431	-1,277	-2,466
Long-Term Debt Issued	-	-	-	-	588
Long-Term Debt Repaid	-	-	-	-600	-
Net Long-Term Debt Issued (Repaid)	-	-	-	-600	588
Issuance of Common Stock	-18	22	6	-19	25
Repurchase of Common Stock	-1,615	-1,514	-1,400	-1,550	-1,702
Net Common Stock Issued (Repurchased)	-1,633	-1,492	-1,394	-1,569	-1,677
Common Dividends Paid	-592	-556	-528	-506	-485
Preferred Share Dividends Paid	-21	-21	-21	-21	-21
Other Financing Activities	11	-7	-4	-14	14
Financing Cash Flow	-2,235	-2,076	-1,947	-2,710	-1,581
Effect of Exchange Rate Changes on Cash and Cash Equivalents	14	-20	3	-14	-6
Net Cash Flow	-57	45	-155	7	80
Free Cash Flow	5,753	5,764	4,005	3,833	3,960
Free Cash Flow Growth	-0.19%	43.92%	4.49%	-3.21%	5.40%
FCF Margin	20.28%	21.72%	16.33%	17.14%	17.69%
Free Cash Flow Per Share	20.08	19.30	12.86	11.63	11.18
Levered Free Cash Flow	3,631	2,753	2,472	837	2,940
Unlevered Free Cash Flow	3,812	2,935	2,654	1,629	2,564

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