Guardian Holdings Cash Flow Statement

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

Millions TTD. 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	863.9	1,533	850.15	645.43	471.71	782.33
Depreciation & Amortization	86.36	86.36	91.23	94.48	102.33	106.01
Gain (Loss) on Sale of Assets	-7.45	-7.45	-25.62	-13.29	-55.14	0.67
Gain (Loss) on Sale of Investments	70.14	70.14	-334.12	-347.97	603.18	-41.03
Change in Accounts Receivable	1,540	1,043	904.24	1,049	193.06	-
Reinsurance Recoverable	-1,083	-483.9	-65.42	-187.77	109.14	-44.2
Change in Insurance Reserves / Liabilities	-	-	-	-	-	602.38
Change in Other Net Operating Assets	-527.28	-2,025	-332.6	-1,658	-1,076	-1,526
Other Operating Activities	770.36	-783.56	53.87	6.11	16.19	-147.87
Operating Cash Flow	1,090	-542.63	1,121	-458.91	281.12	-342.59
Capital Expenditures	-36.93	-40.54	-31.78	-48.39	-63.7	-57.77
Sale of Property, Plant & Equipment	2.21	4.59	49.86	1.23	1.92	2.19
Purchase / Sale of Intangible Assets	-60.92	-46.51	-57.11	-24.29	-24.08	-50.01
Cash Acquisitions	-	-	-	-	-26.98	-8.6
Investment in Securities	-	-	-	-	-	-11.3
Other Investing Activities	-177.83	725.21	-	-	-	-
Investing Cash Flow	-273.48	642.75	-39.03	-71.45	-112.84	-125.49
Long-Term Debt Issued	-	1,344	549.72	365.6	683.4	1,067
Total Debt Repaid	-1,499	-1,610	-180.45	-410.2	-906.23	-799.65
Net Debt Issued (Repaid)	-125.42	-266.2	369.26	-44.6	-222.83	267.41
Common Dividends Paid	-343.37	-285.37	-176.34	-171.7	-167.06	-41.76
Other Financing Activities	59.04	91.01	-75.07	109.94	28.23	340.18
Financing Cash Flow	-411.75	-460.56	117.86	-106.35	-361.65	565.84
Foreign Exchange Rate Adjustments	1.76	-12.36	7.9	-12.36	-3.67	-
Miscellaneous Cash Flow Adjustments	24.12	22.66	-116.32	-4.09	-0.3	-
Net Cash Flow	431.11	-350.14	1,091	-653.15	-197.35	97.76
Free Cash Flow	1,054	-583.17	1,089	-507.3	217.41	-400.35
Free Cash Flow Margin	14.96%	-8.27%	15.39%	-7.71%	3.76%	-6.05%
Free Cash Flow Per Share	4.53	-2.51	4.69	-2.19	0.94	-1.73
Cash Interest Paid	231.15	203.1	211.5	200.82	242.41	218.35
Cash Income Tax Paid	326.87	347.41	219.91	243.11	167.12	246.05
Levered Free Cash Flow	-622.3	-61.42	430.23	682	-2,545	1,051
Unlevered Free Cash Flow	-504.52	56.59	548.97	792.02	-2,417	1,176
Change in Working Capital	-11.17	-1,409	527.1	-784.83	-774.4	-968.35

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