Great-West Lifeco Balance Sheet

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

Millions CAD. 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
Investments in Debt Securities	13,040	13,758	11,750	12,701	36,799
Investments in Equity & Preferred Securities	2,145	1,930	843	638	914
Policy Loans	-	-	-	-	8,319
Total Investments	245,332	237,053	222,274	219,004	201,607
Cash & Equivalents	8,194	9,564	7,053	6,411	4,772
Reinsurance Recoverable	16,850	17,842	17,332	17,571	21,138
Other Receivables	9,044	7,793	6,984	6,369	7,067
Deferred Policy Acquisition Cost	1,208	1,065	913	923	615
Separate Account Assets	551,169	496,386	422,956	387,882	357,419
Property, Plant & Equipment	1,498	1,446	1,374	1,494	1,547
Goodwill	11,283	11,428	11,249	10,611	9,081
Other Intangible Assets	4,912	4,958	4,484	6,230	5,514
Restricted Cash	708	1,145	689	879	1,303
Other Current Assets	1,811	2,322	6,646	2,347	883
Long-Term Deferred Tax Assets	2,285	2,066	1,848	1,470	1,057
Other Long-Term Assets	8,534	9,095	9,428	11,015	18,485
Total Assets	862,828	802,163	713,230	672,206	630,488
Accounts Payable	3,981	3,524	3,216	2,758	3,032
Insurance & Annuity Liabilities	161,644	155,683	144,388	135,438	208,378
Reinsurance Payable	919	795	648	537	1,542
Current Portion of Long-Term Debt	565	340	338	-	-
Current Portion of Leases	64	-	-	79	83
Short-Term Debt	648	523	435	1,151	593
Current Income Taxes Payable	498	294	137	152	193
Long-Term Debt	12,423	13,116	11,964	9,632	8,618
Long-Term Leases	280	380	361	428	439
Long-Term Deferred Tax Liabilities	937	834	787	773	1,089
Separate Account Liability	551,169	496,386	422,956	387,882	357,419
Other Current Liabilities	1,847	1,797	3,357	8,041	4,861
Other Long-Term Liabilities	94,093	95,076	93,955	95,684	12,455
Total Liabilities	829,825	769,509	683,379	643,411	600,005
Preferred Stock, Redeemable	2,920	2,720	2,720	2,720	2,720
Common Stock	5,983	6,071	6,000	5,791	5,748
Additional Paid-In Capital	209	208	234	209	192
Retained Earnings	17,503	17,266	15,492	14,976	16,424
Comprehensive Income & Other	3,242	3,276	2,390	2,213	2,132
Total Common Equity	26,937	26,821	24,116	23,189	24,496
Minority Interest	3,146	3,113	3,015	2,886	3,267
Shareholders' Equity	33,003	32,654	29,851	28,795	30,483
Total Liabilities & Equity	862,828	802,163	713,230	672,206	630,488
Filing Date Shares Outstanding	906.33	932.1	932.43	931.85	930.62
Total Common Shares Outstanding	906.33	932.11	932.43	931.85	930.62
Total Debt	13,980	14,359	13,098	11,290	9,733
Net Cash (Debt)	-5,786	-4,795	-6,045	-4,879	-4,961
Net Cash Per Share	-6.23	-5.13	-6.48	-5.23	-5.33
Book Value Per Share	29.72	28.77	25.86	24.88	26.32
Tangible Book Value	10,742	10,435	8,383	6,348	9,901
Tangible Book Value Per Share	11.85	11.20	8.99	6.81	10.64

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