ASIC 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	74	47.09	10.05
Depreciation & Amortization	0.59	0.7	0.23
Gain (Loss) on Sale of Investments	-19.09	-31.73	2.74
Stock-Based Compensation	1.02	2.01	0.03
Change in Accounts Receivable	-21.74	-4.4	-6.17
Reinsurance Recoverable	-16.77	-7.95	1.66
Change in Accounts Payable	-6.41	30.16	5.55
Change in Unearned Revenue	69.04	38.92	38.43
Change in Income Taxes	-10.21	17.64	13.2
Change in Deferred Taxes	-5.28	-4.41	-6.97
Change in Insurance Reserves / Liabilities	98.67	82.64	44.5
Change in Other Net Operating Assets	-5.54	-62.01	-11.39
Other Operating Activities	-6.33	3.76	-2.68
Operating Cash Flow	147.19	125.61	85.71
Operating Cash Flow Growth	17.18%	46.56%	-
Capital Expenditures	-6.47	-0.16	-
Investment in Securities	-174.69	-363.11	14.58
Other Investing Activities	-93	-	-0.07
Investing Cash Flow	-274.15	-363.27	14.51
Issuance of Common Stock	144.45	-	35
Repurchases of Common Stock	-2.74	-	-
Common Dividends Paid	-6.86	-0.41	-2.73
Other Financing Activities	-4.74	-	-
Financing Cash Flow	130.11	-0.41	32.28
Net Cash Flow	3.15	-238.07	132.49
Free Cash Flow	140.72	125.45	85.71
Free Cash Flow Growth	12.18%	46.37%	-
Free Cash Flow Margin	33.16%	36.48%	35.52%
Free Cash Flow Per Share	3.04	3.42	0.24
Cash Interest Paid	1.73	2.12	2.19
Cash Income Tax Paid	-35.28	0.91	-
Levered Free Cash Flow	-121.79	35.5	-
Unlevered Free Cash Flow	-120.94	36.78	-
Change in Working Capital	97	103.79	75.35

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