Humana 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	1,188	1,207	2,489	2,806	2,933
Depreciation & Amortization	824	308	328	320	270
Other Amortization	-	660	589	525	443
Gain (Loss) on Sale of Assets	67	-	-	-237	-
Gain (Loss) on Sale of Investments	50	-24	54	205	-999
Stock-Based Compensation	241	207	175	216	180
Change in Accounts Receivable	-570	-669	-337	-54	-280
Change in Unearned Revenue	96	-6	-20	32	-65
Change in Insurance Reserves / Liabilities	-472	199	915	975	104
Change in Other Net Operating Assets	-851	630	-477	-419	-315
Other Operating Activities	90	-77	-59	-34	56
Operating Cash Flow	921	2,966	3,981	4,587	2,262
Operating Cash Flow Growth	-68.95%	-25.50%	-13.21%	102.78%	-59.89%
Capital Expenditures	-546	-575	-1,004	-1,137	-1,342
Sale of Property, Plant & Equipment	23	7	210	17	26
Cash Acquisitions	-81	-89	-233	-337	-4,187
Investment in Securities	2,762	-2,245	-2,465	-2,250	-1,053
Other Investing Activities	-	-50	-	-	-
Investing Cash Flow	2,273	-2,952	-3,492	-1,006	-6,556
Short-Term Debt Issued	220	468	366	-	358
Long-Term Debt Issued	1,481	2,232	2,544	1,982	5,484
Total Debt Issued	1,701	2,700	2,910	1,982	5,842
Total Debt Repaid	-1,050	-2,014	-2,432	-3,404	-2,078
Net Debt Issued (Repaid)	651	686	478	-1,422	3,764
Repurchases of Common Stock	-151	-817	-1,573	-2,096	-79
Common Dividends Paid	-430	-431	-431	-392	-354
Other Financing Activities	-209	8	-158	3	-10
Financing Cash Flow	-1,215	-2,487	-856	-1,914	3,015
Net Cash Flow	1,979	-2,473	-367	1,667	-1,279
Free Cash Flow	375	2,391	2,977	3,450	920
Free Cash Flow Growth	-84.32%	-19.68%	-13.71%	275.00%	-80.32%
Free Cash Flow Margin	0.29%	2.03%	2.80%	3.72%	1.11%
Free Cash Flow Per Share	3.10	19.78	23.92	27.14	7.11
Cash Interest Paid	-	584	394	354	285
Cash Income Tax Paid	-	570	997	758	227
Levered Free Cash Flow	1,087	-1,311	782.13	4,490	-694.25
Unlevered Free Cash Flow	1,481	-898.13	1,090	4,741	-490.5
Change in Working Capital	-1,797	154	81	534	-556

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