Reinsurance Group of America, Incorporated (RGA)
NYSE: RGA · Real-Time Price · USD
274.06
+7.31 (2.74%)
Nov 10, 2026, 4:00 PM EST - Market closed
RGA Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 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 | 1,711 | 1,182 | 717 | 902 | 517 | 1,170 |
Depreciation & Amortization | 43 | 43 | 46 | 41 | 38 | 43 |
Other Amortization | 481 | 481 | 391 | 348 | 337 | 287 |
Gain (Loss) on Sale of Assets | - | - | - | - | -2 | -11 |
Gain (Loss) on Sale of Investments | -26 | -26 | 531 | 354 | 468 | -621 |
Change in Accounts Receivable | -422 | -422 | -397 | -537 | -249 | -117 |
Reinsurance Recoverable | 67 | 67 | 231 | -209 | 61 | 131 |
Change in Income Taxes | 351 | 351 | -61 | 211 | - | - |
Change in Deferred Taxes | - | - | - | - | 67 | 53 |
Change in Insurance Reserves / Liabilities | 4,355 | 4,355 | 8,735 | 4,070 | 1,094 | 4,229 |
Change in Other Net Operating Assets | -739 | -739 | 2 | 18 | 81 | -71 |
Other Operating Activities | 377 | -567 | -407 | -483 | -427 | -332 |
Operating Cash Flow | 5,564 | 4,091 | 9,370 | 4,044 | 1,343 | 4,182 |
Operating Cash Flow Growth | 14.98% | -56.34% | 131.70% | 201.12% | -67.89% | 25.89% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 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 |
Cash Acquisitions | - | - | - | - | - | -156 |
Investment in Securities | -12,134 | -9,512 | -11,539 | -3,525 | -5,285 | -4,266 |
Other Investing Activities | 818 | -337 | 260 | 303 | -59 | -61 |
Investing Cash Flow | -13,036 | -12,094 | -12,545 | -4,066 | -5,688 | -4,628 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 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 |
Long-Term Debt Issued | - | 691 | 640 | 890 | 690 | 494 |
Total Debt Repaid | -829 | -29 | -28 | -428 | -584 | -611 |
Net Debt Issued (Repaid) | -434 | 662 | 612 | 462 | 106 | -117 |
Issuance of Common Stock | 10 | 4 | - | - | - | - |
Repurchases of Common Stock | -289 | -174 | -27 | -227 | -81 | -99 |
Common Dividends Paid | -247 | -240 | -229 | -219 | -205 | -194 |
Other Financing Activities | -581 | 911 | 187 | 603 | 320 | 31 |
Financing Cash Flow | 7,529 | 8,798 | 3,661 | 78 | 4,436 | 20 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 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 |
Foreign Exchange Rate Adjustments | -34 | 47 | -130 | -13 | -112 | -34 |
Net Cash Flow | 23 | 842 | 356 | 43 | -21 | -460 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 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 |
Free Cash Flow | 5,564 | 4,091 | 9,370 | 4,044 | 1,343 | 4,182 |
Free Cash Flow Growth | 14.98% | -56.34% | 131.70% | 201.12% | -67.89% | 26.96% |
Free Cash Flow Margin | 20.37% | 17.26% | 42.38% | 21.78% | 8.28% | 25.09% |
Free Cash Flow Per Share | 84.24 | 61.24 | 140.06 | 60.27 | 19.84 | 61.23 |
Levered Free Cash Flow | 3,984 | 1,801 | 1,749 | 1,926 | -2,917 | 162.63 |
Unlevered Free Cash Flow | 4,230 | 2,029 | 1,939 | 2,087 | -2,798 | 249.5 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 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 |
Cash Interest Paid | 286 | 255 | 213 | 217 | 163 | 160 |
Cash Income Tax Paid | 173 | 252 | 78 | 298 | 129 | 368 |
Change in Working Capital | 3,171 | 3,171 | 8,188 | 3,063 | 743 | 4,065 |