Beazley 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	1,147	1,424	1,254	191	369.2
Depreciation & Amortization	-	-	-	29.9	40.4
Stock-Based Compensation	-	-	-	15.7	11
Other Adjustments	-564.3	-402	-454.2	230.5	-86.7
Changes in Receivables	153.3	-327.2	-150	-1,106	-950.1
Changes in Deferred Acquisition Costs	-	-	-	-72.3	-92.9
Changes in Claims Reserves	153.5	659.4	632.4	1,869	1,901
Changes in Income Taxes Payable	-257.5	-301.2	-110.7	-61.1	-22.2
Changes in Other Operating Activities	683.3	-417.6	-778.7	-	-
Operating Cash Flow	1,315	634.9	393.2	1,097	1,170
Operating Cash Flow Growth	107.09%	61.47%	-64.15%	-6.22%	145.28%
Capital Expenditures	-13.4	-17.8	-4.3	-1	-4.5
Purchases of Intangible Assets	-53.5	-45	-50.9	-22.7	-17.7
Purchases of Investments	-	-	-	-6,645	-7,979
Proceeds from Sale of Investments	-	-	-	5,325	7,037
Proceeds from Business Divestments	-	-	-	-	54.4
Other Investing Activities	-	-	-	94.2	70.6
Investing Cash Flow	-66.9	-62.8	-55.2	-1,250	-839.2
Issuance of Common Stock	-	-	-	404.4	-
Repurchase of Common Stock	-536.7	-344	-33.6	-17.8	-
Net Common Stock Issued (Repurchased)	-536.7	-344	-33.6	386.6	-
Common Dividends Paid	-211	-120.5	-107.7	-103	-
Other Financing Activities	-49.3	-51.1	-49.5	-47.9	-48
Financing Cash Flow	-797	-515.6	-190.8	235.7	-48
Effect of Exchange Rate Changes on Cash and Cash Equivalents	35.5	13.3	12.6	-22.2	-
Net Cash Flow	450.9	56.5	147.2	82.9	282.3
Free Cash Flow	1,301	617.1	388.9	1,096	1,165
Free Cash Flow Growth	110.89%	58.68%	-64.51%	-5.94%	151.13%
FCF Margin	19.98%	9.79%	6.65%	31.61%	34.81%
Free Cash Flow Per Share	2.06	0.93	0.57	1.77	1.90
Levered Free Cash Flow	1,326	393.7	133.1	56.3	229.5
Unlevered Free Cash Flow	1,358	424.91	166.33	89.47	262.03