Cincinnati Financial 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	2020 - 2016
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	2020 - 2016
Net Income	2,393	2,292	1,843	-487	2,968	Upgrade
Depreciation & Amortization	168	130	112	127	118	Upgrade
Gain (Loss) on Sale of Investments	-1,405	-1,367	-1,108	1,493	-2,353	Upgrade
Change in Accounts Receivable	-306	-266	-264	-340	-240	Upgrade
Change in Unearned Revenue	441	694	430	418	311	Upgrade
Change in Income Taxes	26	12	42	-40	-25	Upgrade
Change in Insurance Reserves / Liabilities	1,559	1,022	749	1,173	635	Upgrade
Change in Other Net Operating Assets	11	120	60	116	117	Upgrade
Other Operating Activities	327	161	268	-312	528	Upgrade
Operating Cash Flow	3,112	2,649	2,052	2,052	1,981	Upgrade
Operating Cash Flow Growth	17.48%	29.09%	-	3.58%	32.86%	Upgrade
Capital Expenditures	-20	-22	-18	-15	-15	Upgrade
Investment in Securities	-1,641	-1,659	-1,575	-925	-1,040	Upgrade
Investing Cash Flow	-1,691	-1,696	-1,608	-933	-1,057	Upgrade
Total Debt Repaid	-	-	-25	-4	-	Upgrade
Net Debt Issued (Repaid)	-	-	-25	-4	-	Upgrade
Issuance of Common Stock	10	10	9	10	13	Upgrade
Repurchases of Common Stock	-205	-126	-67	-410	-144	Upgrade
Common Dividends Paid	-525	-490	-454	-423	-395	Upgrade
Other Financing Activities	-153	-154	-129	-93	-98	Upgrade
Financing Cash Flow	-973	-877	-801	-994	-685	Upgrade
Net Cash Flow	448	76	-357	125	239	Upgrade
Free Cash Flow	3,092	2,627	2,034	2,037	1,966	Upgrade
Free Cash Flow Growth	17.70%	29.15%	-0.15%	3.61%	33.65%	Upgrade
Free Cash Flow Margin	24.48%	23.17%	20.31%	31.04%	20.42%	Upgrade
Free Cash Flow Per Share	19.61	16.65	12.87	12.83	12.08	Upgrade
Cash Interest Paid	53	53	54	53	52	Upgrade
Cash Income Tax Paid	220	395	136	165	257	Upgrade
Levered Free Cash Flow	6,142	2,058	1,672	-216.75	2,633	Upgrade
Unlevered Free Cash Flow	6,175	2,091	1,705	-183.63	2,666	Upgrade
Change in Working Capital	1,629	1,433	937	1,231	720	Upgrade

Source: S&P Capital IQ. Insurance template. Financial Sources.