Fidelity National Financial, Inc. (FNF)

FNF Cash Flow Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	1,270	517	1,294	2,797
Depreciation & Amortization	739	593	491	432
Gain (Loss) on Sale of Assets	-	-	-	14
Gain (Loss) on Sale of Investments	-341	542	530	-588
Stock-Based Compensation	82	60	49	42
Change in Accounts Receivable	-43	37	178	-120
Reinsurance Recoverable	-13	78	276	59
Change in Income Taxes	83	-50	66	140
Change in Insurance Reserves / Liabilities	1,796	1,285	998	887
Change in Other Net Operating Assets	-294	-26	-385	199
Other Operating Activities	-372	-49	-1,337	-664
Operating Cash Flow	6,815	6,478	4,355	4,090
Operating Cash Flow Growth	5.20%	48.75%	6.48%	159.19%
Capital Expenditures	-146	-132	-138	-131
Cash Acquisitions	-586	-299	-180	-100
Investment in Securities	-7,137	-8,643	-10,121	-7,207
Other Investing Activities	7	-16	-85	-11
Investing Cash Flow	-7,862	-9,090	-10,524	-7,449
Long-Term Debt Issued	1,068	851	550	449
Total Debt Repaid	-365	-185	-	-
Net Debt Issued (Repaid)	703	666	550	449
Issuance of Common Stock	21	15	39	48
Repurchases of Common Stock	-34	-41	-568	-480
Common Dividends Paid	-532	-500	-489	-446
Other Financing Activities	-536	-209	-517	194
Financing Cash Flow	1,759	3,093	4,095	5,000
Net Cash Flow	712	481	-2,074	1,641
Free Cash Flow	6,669	6,346	4,217	3,959
Free Cash Flow Growth	5.09%	50.49%	6.52%	169.69%
Free Cash Flow Margin	48.63%	53.83%	36.34%	25.30%
Free Cash Flow Per Share	24.43	23.42	15.22	13.79
Cash Interest Paid	200	157	125	112
Cash Income Tax Paid	237	216	387	653
Levered Free Cash Flow	76.13	2,621	-764.5	3,363
Unlevered Free Cash Flow	206.75	2,729	-692.63	3,435
Change in Working Capital	5,324	4,710	3,189	2,015

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

SEC Filings: 10-K · 10-Q