First Acceptance 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	30.23	26.29	73.91	-17.49	-
Depreciation & Amortization	1.09	1.29	2.55	3.32	-
Gain (Loss) on Sale of Assets	-	-	-73.03	-	-
Gain (Loss) on Sale of Investments	-3.53	-1.65	-2.34	1.06	-
Stock-Based Compensation	1.05	0.94	0.34	0.28	-
Change in Accounts Receivable	-63.1	-5.75	-55.37	-39.22	-
Reinsurance Recoverable	-22.63	-28.57	-	-	-
Change in Unearned Revenue	45.08	3.65	60.55	39.44	-
Change in Income Taxes	-1.63	-2.58	-	-	-
Change in Insurance Reserves / Liabilities	26.78	75.1	58.25	13.82	-
Change in Other Net Operating Assets	-1.52	-44.34	4.21	3.88	-
Other Operating Activities	-4.05	-10.65	17.62	-4.78	-
Operating Cash Flow	46.25	52.12	84.28	-3.71	-
Operating Cash Flow Growth	-11.26%	-38.16%	-	-	-
Capital Expenditures	-0.57	-0.32	-1.34	-4.21	-
Investment in Securities	-57.91	-110.57	-77.26	-4.83	-
Other Investing Activities	10.89	35.36	0.88	1.64	-
Investing Cash Flow	-47.59	-75.53	-23.66	-7.41	-
Issuance of Common Stock	0.37	0.19	0.12	0.11	-
Repurchases of Common Stock	-6.56	-0.64	-	-0.76	-
Other Financing Activities	-0.09	-	-0.03	-	-
Financing Cash Flow	-6.28	-0.45	0.08	-0.64	-
Net Cash Flow	-7.62	-23.86	60.71	-11.75	-
Free Cash Flow	45.68	51.79	82.94	-7.92	-
Free Cash Flow Growth	-11.80%	-37.55%	-	-	-
Free Cash Flow Margin	9.02%	9.26%	17.01%	-2.62%	-
Free Cash Flow Per Share	1.21	1.32	2.16	-0.21	-
Cash Interest Paid	3.5	3.8	3.7	2	-
Cash Income Tax Paid	11.5	17.5	0.9	-	-
Levered Free Cash Flow	-11.02	16.95	-	-	-
Unlevered Free Cash Flow	-8.83	19.39	-	-	-
Change in Working Capital	21.46	35.88	65.24	13.9	-

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