Standard Life Cash Flow Statement

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

Millions GBP. 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	-443	-1,090	56	-2,724	-837
Depreciation & Amortization	25	28	29	25	38
Other Amortization	230	266	318	349	577
Gain (Loss) on Sale of Assets	-	-	-	-	-93
Gain (Loss) on Sale of Investments	-18,804	-7,884	-11,045	45,197	-9,436
Stock-Based Compensation	26	26	22	16	14
Reinsurance Recoverable	-1,985	37	-1,439	1,553	-227
Change in Insurance Reserves / Liabilities	24,041	13,239	17,422	-42,146	6,248
Change in Other Net Operating Assets	-4,748	-1,606	-6,931	-1,723	3,377
Other Operating Activities	674	256	343	-1,044	467
Operating Cash Flow	-993	3,372	-863	866	-1,020
Purchase / Sale of Intangible Assets	-10	-29	-	-	-
Cash Acquisitions	-	-	-20	-	-
Investing Cash Flow	-10	-29	-20	-	304
Long-Term Debt Issued	152	475	410	61	17
Total Debt Repaid	-506	-750	-422	-496	-356
Net Debt Issued (Repaid)	-354	-275	-12	-435	-339
Issuance of Common Stock	5	-	6	4	2
Repurchases of Common Stock	-9	-	-	-	-
Common Dividends Paid	-577	-562	-549	-525	-511
Other Financing Activities	-246	-240	-214	-226	-246
Financing Cash Flow	-1,181	-1,077	-769	-1,182	-1,094
Miscellaneous Cash Flow Adjustments	-	-	-52	-33	-76
Net Cash Flow	-2,184	2,266	-1,704	-349	-1,886
Cash Interest Paid	212	218	203	216	237
Cash Income Tax Paid	73	177	93	153	149
Levered Free Cash Flow	19,255	7,699	23,258	-21,908	-20,256
Unlevered Free Cash Flow	19,421	7,880	23,420	-21,764	-20,104
Change in Working Capital	17,308	11,670	9,052	-42,316	9,398

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