White Mountains Insurance Group, Ltd. (WTM)

WTM Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	205.4	230.4	509.2	792.8	-275.4	708.7
Depreciation & Amortization	-1.3	-6.4	-17.8	4.3	21.6	9.6
Gain (Loss) on Sale of Assets	114.5	114.5	-	-	-	-
Gain (Loss) on Sale of Investments	-186	-185.4	-434.2	191.5	246.1	-716.8
Stock-Based Compensation	17.5	16.3	15.3	14	14.7	16.6
Change in Accounts Receivable	-269.7	-204.7	-67	-127.8	-179.3	-
Reinsurance Recoverable	-180.3	-147	153.3	-79.8	88	-
Change in Unearned Revenue	324.8	174.4	147.9	159.3	198.6	39.1
Change in Insurance Reserves / Liabilities	420.9	543	308.6	401.8	198.7	-
Change in Other Net Operating Assets	-156.9	-105.7	-92.5	118.5	-168.3	-83.5
Other Operating Activities	194.3	116.1	73.5	-953.4	-2.4	-75.8
Operating Cash Flow	470.8	586.8	404.1	326.3	38.6	-96.1
Operating Cash Flow Growth	-5.97%	45.21%	23.84%	745.34%	-	-
Cash Acquisitions	-70.7	-231.8	-	-67.9	10.6	-9.1
Investment in Securities	-444.9	-236.3	-627.8	-1,141	-812.5	840.8
Other Investing Activities	-5.7	9.1	66.6	-74.4	593.6	-642.2
Investing Cash Flow	-509.3	-447	-543.9	108.4	-208.3	189.5
Long-Term Debt Issued	-	36.6	12.4	213.8	401.7	32.2
Total Debt Repaid	-6.3	-38.1	-25.7	-56.7	-120.1	-1.9
Net Debt Issued (Repaid)	161.8	-1.5	-13.3	157.1	281.6	30.3
Repurchases of Common Stock	-9.7	-7.9	-32.7	-615.8	-107.5	-85.2
Common Dividends Paid	-2.6	-2.5	-2.6	-3	-3.1	-3.2
Other Financing Activities	-28.4	16.1	55.8	134.3	46.6	-21.7
Financing Cash Flow	121.1	4.2	7.2	-327.4	217.6	-79.8
Miscellaneous Cash Flow Adjustments	-	-	-	-	15.2	-
Net Cash Flow	82.6	144	-132.6	107.3	63.1	13.6
Free Cash Flow	470.8	586.8	404.1	326.3	38.6	-96.1
Free Cash Flow Growth	-5.97%	45.21%	23.84%	745.34%	-	-
Free Cash Flow Margin	18.26%	24.93%	18.65%	28.18%	6.28%	-10.73%
Free Cash Flow Per Share	185.57	231.74	159.89	115.45	12.69	-31.19
Cash Interest Paid	62	61	42.2	30.5	13.9	6.1
Cash Income Tax Paid	37.5	34.3	42.7	10.3	-0.1	15.9
Levered Free Cash Flow	332.29	1,247	-39.59	-144.86	-269.46	-97.25
Unlevered Free Cash Flow	374.29	1,285	-0.4	-119.68	-256.65	-92.63
Change in Working Capital	126.4	301.3	258.1	277.1	-8.3	-50.2

Updated Aug 7, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q