Intact Financial Cash Flow Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	4,418	4,307	2,878	1,804	3,007	2,568
Depreciation & Amortization	606	797	726	597	563	-
Stock-Based Compensation	95	147	104	120	152	-
Other Adjustments	-740	-908	-567	-272	53	-
Changes in Claims Reserves	779	846	1,192	879	365	-
Changes in Income Taxes Payable	-1,101	-820	-745	-153	-408	-783
Changes in Other Operating Activities	92	19	-201	-1,129	-67	-
Operating Cash Flow	4,236	4,388	3,387	1,846	3,665	3,146
Operating Cash Flow Growth	14.64%	29.55%	83.48%	-49.63%	16.50%	33.76%
Purchases of Intangible Assets	-522	-457	-429	-458	-411	-327
Purchases of Investments	-29,817	-28,348	-31,129	-32,482	-24,521	-18,118
Proceeds from Sale of Investments	29,375	26,845	29,989	31,930	21,365	16,442
Payments for Business Acquisitions	-	-	-	-869	-239	-11,076
Proceeds from Business Divestments	-459	-621	-45	-126	1,060	7,107
Investing Cash Flow	-1,423	-2,581	-1,614	-2,005	-2,746	-5,972
Short-Term Debt Issued	-42	-	-105	-32	-302	439
Net Short-Term Debt Issued (Repaid)	-42	-	-105	-32	-302	439
Long-Term Debt Issued	248	298	298	799	1,258	1,815
Long-Term Debt Repaid	-724	-524	-663	-198	-1,700	-1,429
Net Long-Term Debt Issued (Repaid)	-476	-226	-365	601	-442	386
Issuance of Common Stock	-	-	11	551	-	4,263
Repurchase of Common Stock	-533	-394	-204	-128	-262	-81
Net Common Stock Issued (Repurchased)	-533	-394	-193	423	-262	4,182
Issuance of Preferred Stock	-	147	-	296	146	-
Net Preferred Stock Issued (Repurchased)	-	147	-	296	146	-
Common Dividends Paid	-1,063	-1,037	-953	-862	-762	-679
Other Financing Activities	149	-91	-390	-105	-585	-139
Financing Cash Flow	-1,818	-1,601	-2,006	321	-2,207	4,189
Effect of Exchange Rate Changes on Cash and Cash Equivalents	10	10	59	-1	22	-4
Net Cash Flow	1,005	216	-174	161	-1,266	1,359
Free Cash Flow	4,236	4,388	3,387	1,846	3,665	3,146
Free Cash Flow Growth	-3.46%	29.55%	83.48%	-49.63%	16.50%	33.76%
FCF Margin	15.03%	15.62%	12.40%	6.97%	14.12%	17.59%
Free Cash Flow Per Share	23.78	24.70	18.96	10.48	20.87	19.37
Levered Free Cash Flow	2,520	3,135	1,607	1,200	1,798	2,109
Unlevered Free Cash Flow	4,428	4,842	3,381	1,824	2,413	1,193

Updated May 5, 2026. Data Source: Fiscal.ai. Insurance template. Financial Sources.