E-L Financial Corporation Cash Flow Statement

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

Millions CAD. 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	1,236	1,570	955.28	-331.44	1,166	Upgrade
Depreciation & Amortization	10.9	10.64	9.12	3.47	14.41	Upgrade
Gain (Loss) on Sale of Investments	-1,015	-1,654	-1,290	2,663	-742.87	Upgrade
Change in Other Net Operating Assets	-45.01	50.71	83.97	-98.35	45.17	Upgrade
Other Operating Activities	268.95	563.37	970.22	-1,856	24.44	Upgrade
Operating Cash Flow	357.45	459.55	736.01	320.98	348.1	Upgrade
Operating Cash Flow Growth	-22.22%	-37.56%	129.30%	-7.79%	5.78%	Upgrade
Cash Acquisitions	-31.36	-	-	-	-	Upgrade
Investment in Securities	402.83	-69.4	-369.87	-343.12	206.59	Upgrade
Other Investing Activities	-23.31	-7.42	-16.68	-19.78	-3.69	Upgrade
Investing Cash Flow	348.17	-76.82	-386.56	-362.9	202.91	Upgrade
Long-Term Debt Issued	-	-	30.2	100	-	Upgrade
Total Debt Repaid	-	-135.2	-200	-	-200	Upgrade
Net Debt Issued (Repaid)	-	-135.2	-169.8	100	-200	Upgrade
Issuance of Common Stock	197.31	-	199.3	-	395.96	Upgrade
Repurchases of Common Stock	-1.42	-	-99.44	-135.46	-6.61	Upgrade
Common & Preferred Dividends Paid	-69.21	-67.48	-64.43	-52.08	-43.36	Upgrade
Total Dividends Paid	-69.21	-67.48	-64.43	-52.08	-43.36	Upgrade
Other Financing Activities	-122.04	-39.8	-77.18	-111.42	-192.01	Upgrade
Financing Cash Flow	-514.62	-450.18	-211.54	-291.24	-342.67	Upgrade
Net Cash Flow	190.99	-67.45	137.92	-333.16	208.34	Upgrade
Cash Interest Paid	23.12	24.6	22.02	19.3	23.55	Upgrade
Cash Income Tax Paid	230.26	86.26	6.68	0.46	-135.65	Upgrade
Levered Free Cash Flow	1,029	1,296	937.87	-763.68	936.95	Upgrade
Unlevered Free Cash Flow	1,163	1,433	1,066	-679.67	956.8	Upgrade
Change in Working Capital	-45.01	50.71	83.97	-98.35	45.17	Upgrade

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