Assured Guaranty 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	543	392	761	137	419
Other Adjustments	-40	-27	-443	182	125
Changes in Receivables	-18	-80	-157	74	-
Changes in Unearned Premiums	-96	62	26	-93	-17
Changes in Claims Reserves	-10	-202	35	-1,207	-99
Changes in Income Taxes Payable	63	-6	72	-106	64
Changes in Other Operating Activities	-183	-92	167	-1,466	-2,429
Operating Cash Flow	259	47	461	-2,479	-1,937
Operating Cash Flow Growth	451.06%	-89.81%	-	-	-
Purchases of Investments	-1,744	-1,474	-754	-459	-1,315
Proceeds from Sale of Investments	2,373	2,262	1,043	2,202	1,344
Other Investing Activities	12	-8	-3	-3	-6
Investing Cash Flow	641	780	286	1,740	23
Long-Term Debt Issued	-	-	345	2,363	5,503
Long-Term Debt Repaid	-	-	-496	-1,171	-2,981
Net Long-Term Debt Issued (Repaid)	-	-	-151	1,192	2,522
Repurchase of Common Stock	-500	-502	-199	-500	-496
Net Common Stock Issued (Repurchased)	-500	-502	-199	-500	-496
Common Dividends Paid	-68	-68	-67	-64	-66
Other Financing Activities	-48	-413	-253	-16	0
Financing Cash Flow	-616	-983	-670	612	1,960
Effect of Exchange Rate Changes on Cash and Cash Equivalents	7	-2	2	-8	-2
Net Cash Flow	291	-158	79	-135	44
Free Cash Flow	259	47	461	-2,479	-1,937
Free Cash Flow Growth	451.06%	-89.81%	-	-	-
FCF Margin	23.33%	5.39%	33.58%	-342.88%	-228.42%
Free Cash Flow Per Share	5.32	0.87	7.73	-38.80	-26.07
Levered Free Cash Flow	287	340	853	-349	529
Unlevered Free Cash Flow	316.34	379.3	1,097	-1,417	-1,815

Updated Feb 26, 2026. Data Source: Fiscal.ai. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q