White Mountains Insurance Group, Ltd. (WTM)

WTM Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	1,113	1,202	284.1	580.9	712.4	-321.9
Depreciation & Amortization	12.7	9	-6.4	-17.8	4.3	21.6
Stock-Based Compensation	18.8	18.5	16.3	15.3	14	14.7
Other Adjustments	-60.55	-927.2	-8.5	-432.4	-681.5	290.2
Changes in Receivables	-42.8	-91.4	-204.7	-67	-127.8	-179.3
Changes in Reinsurance Contract Assets	-258.9	-247.1	-147	153.3	-79.8	88
Changes in Deferred Acquisition Costs	-31.2	-56.2	-27.1	-22.2	-21.9	-41.8
Changes in Accounts Payable	248.4	163.7	107.3	-170	-173	-104.2
Changes in Accrued Expenses	21.9	22.9	-8.4	1.6	-	-
Changes in Unearned Premiums	111.6	172.7	174.4	147.9	159.3	198.6
Changes in Claims Reserves	337.8	367.7	543	308.6	401.8	198.7
Changes in Other Operating Activities	-88	-83.9	-136.2	-94.1	118.5	-168.3
Operating Cash Flow	621.2	550.5	586.8	404.1	365	38.6
Operating Cash Flow Growth	21.78%	-6.19%	45.21%	10.71%	845.60%	-
Purchases of Investments	-2,057	-1,552	-1,989	-972.1	-1,189	-1,641
Proceeds from Sale of Investments	1,348	1,366	1,204	840.1	502.6	768.5
Payments for Business Acquisitions	-314.15	-349.5	-231.8	-	-67.9	10.6
Proceeds from Business Divestments	6	746.5	-	17.3	1,392	-
Other Investing Activities	-373.8	-878.1	569.5	-429.2	-529.5	709.9
Investing Cash Flow	-704	-666.9	-447	-543.9	115.5	-208.3
Long-Term Debt Issued	184.8	294.7	36.6	12.4	213.8	401.7
Long-Term Debt Repaid	-25.2	-17.5	-38.1	-25.7	-56.7	-120.1
Net Long-Term Debt Issued (Repaid)	159.6	277.2	-1.5	-13.3	157.1	281.6
Repurchase of Common Stock	-218.6	-202.6	-7.9	-32.7	-615.8	-107.5
Net Common Stock Issued (Repurchased)	-218.6	-202.6	-7.9	-32.7	-615.8	-107.5
Common Dividends Paid	-2.4	-2.6	-2.5	-2.6	-3	-3.1
Other Financing Activities	-30.05	-36.4	16.1	55.8	134.3	47.6
Financing Cash Flow	-92.2	35.6	4.2	7.2	-344.9	217.6
Net Cash Flow	-175	-80.8	144	-132.6	107.3	63.1
Free Cash Flow	621.2	550.5	586.8	404.1	365	38.6
Free Cash Flow Growth	12.84%	-6.19%	45.21%	10.71%	845.60%	-
FCF Margin	16.90%	14.74%	26.20%	18.65%	31.52%	6.28%
Free Cash Flow Per Share	246.60	217.22	231.74	159.89	129.15	12.69
Levered Free Cash Flow	1,221	1,365	185.5	494.6	957.3	0.1
Unlevered Free Cash Flow	1,203	1,254	295.24	644.02	-131.93	-300.27

Updated May 6, 2026. Data Source: Fiscal.ai. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q