← ARCH CAPITAL GROUP LTD.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 TTM
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $692.7m
$619.3m -10.60%
$758.0m +22.40%
$1.6b +115.88%
$1.4b -14.10%
$2.2b +53.46%
$1.5b -31.52%
$4.4b +200.83%
$4.3b -2.95%
$4.4b +2.02%
—
Net Income (Loss) Available to Common Stockholders, Basic $664.7m
$566.5m -14.77%
$713.6m +25.97%
$1.6b +123.47%
$1.4b -14.47%
$2.1b +53.49%
$1.4b -31.39%
$4.4b +206.57%
$4.3b -2.98%
$4.4b +2.04%
—
Net Income (Loss) Attributable to Noncontrolling Interest $131.4m $10.4m ($30.1m) $57.0m $60.2m $82.6m $5.5m ($1.0m) $0 $0 —
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $824.2m $629.7m $727.8m $1.7b $1.5b $2.2b $1.5b $4.4b $4.3b $4.4b —
Amortization Cash Flow — — — — — — $106.0m $95.0m $235.0m $193.0m —
Amortization Of Intangibles — — — — — — $106.0m $95.0m $235.0m $193.0m $156.0m
Amortization of Intangible Assets $19.3m $125.8m $105.7m $82.1m $69.0m $83.0m $106.2m $95.0m $235.0m $193.0m —
Deferred Policy Acquisition Costs, Amortization Expense $678.0m $775.5m $805.1m $840.9m $1.0b $1.3b $1.7b $2.3b $2.7b $3.2b —
Depreciation And Amortization — — — — — — $106.0m $95.0m $235.0m $193.0m $156.0m
Deferred Income Tax Expense (Benefit) ($19.4m) $173.3m $28.1m $11.4m ($85.8m) ($167.0m) ($121.3m) ($1.2b) ($35.0m) $174.0m —
Deferred income tax assets, net — — — — — ($167.0m) ($121.0m) ($1.2b) ($35.0m) $174.0m —
Share-based Payment Arrangement, Expense — $67.9m $55.9m $63.8m $69.9m $86.6m $87.7m $92.0m $133.0m $148.0m $146.0m
Share-based Payment Arrangement, Noncash Expense $56.6m $67.8m $55.8m $66.4m $71.3m $87.1m $87.6m $93.0m $133.0m $148.0m $146.0m
Share-based compensation $56.6m $67.8m $55.8m $66.4m $71.3m $87.1m $87.6m $93.0m $133.0m $148.0m $146.0m
Goodwill and Intangible Asset Impairment — — $6.3m $1.0m $0 — — $2.0m — — —
Goodwill, Impairment Loss — — $0 $0 $0 — — $2.0m — — —
Impairment of Intangible Assets, Finite-lived — — $0 $0 $0 — — $0 — — —
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) — — $6.3m $1.0m $0 — — $0 — — —
Marketable Securities, Gain (Loss), Excluding Other-than-temporary Impairment Loss $137.6m $149.1m ($405.3m) $366.4m $823.5m $379.8m ($662.7m) — — — —
Earnings (Loss)es From Equity Investments — — — — — — $154.0m ($215.0m) ($488.0m) ($459.0m) ($615.0m)
Equity in net (income) or loss of investments accounted for using the equity method and other income or loss — — — — ($48.0m) ($464.1m) $153.2m ($215.0m) ($488.0m) ($459.0m) —
Income (Loss) from Equity Method Investments $48.5m $142.3m $45.6m $123.7m $146.7m $366.4m $115.9m $278.0m $580.0m $504.0m —
Change In Working Capital — — — — — — $1.3b $1.2b $2.7b $2.3b $2.0b
Change In Receivables — — — — — — ($1.1b) ($981.0m) ($818.0m) $38.0m ($118.0m)
Changes In Account Receivables — — — — — — ($1.1b) ($981.0m) ($818.0m) $38.0m ($118.0m)
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims $2.2b $3.0b $2.9b $3.1b $4.7b $4.6b $5.0b $6.2b $8.3b $9.4b —
Unearned premiums, net of ceded unearned premiums $146.6m $116.8m $114.8m $252.6m $445.8m $936.0m $1.4b $1.0b $632.0m ($589.0m) —
Other $1.7m ($51.9m) ($7.2m) ($6.0m) $73.7m ($3.3m) ($85.8m) ($5.0m) ($2.0m) ($4.0m) —
Other Operating Income (Expense), Net ($800k) ($2.6m) $2.4m $2.2m $29k $10.2m ($26.2m) $27.0m $42.0m $54.0m —
Net Cash Provided by (Used in) Operating Activities $1.4b
$1.1b -20.34%
$1.6b +40.15%
$2.0b +31.37%
$2.9b +40.91%
$3.4b +18.74%
$3.8b +11.31%
$5.7b +50.69%
$6.7b +16.07%
$6.2b -7.51%
$6.1b -1.17%
Cash flows from investing activities:
Capital Expenditure — — — — — — ($50.0m) ($52.0m) ($51.0m) ($44.0m) ($45.0m)
Net (purchases) sales of short-term investments ($123.4m) ($734.6m) $485.5m $39.8m ($1.0b) $165.3m $467.2m ($696.0m) ($269.0m) $258.0m —
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale $755.0m $907.4m $892.8m $643.3m $871.1m $1.6b $714.5m $781.0m $2.0b $2.5b —
Proceeds from redemptions and maturities of fixed maturity investments $755.0m $907.4m $892.8m $643.3m $871.1m $1.6b $714.5m $781.0m $2.0b $2.5b —
Proceeds from sales of fixed maturity investments $34.6b $35.7b $31.5b $28.6b $37.9b $33.6b $11.8b $14.1b $26.2b $29.3b —
Proceeds from sales, redemptions and maturities of other investments $1.1b $1.5b $1.6b $1.2b $1.0b $1.8b $1.2b $768.0m $1.9b $2.2b —
Purchases of fixed maturity investments ($35.5b) ($36.8b) ($33.3b) ($30.1b) ($39.8b) ($35.5b) ($16.4b) ($18.1b) ($31.3b) ($36.5b) —
Purchases of other investments ($1.4b) ($2.0b) ($2.0b) ($1.5b) ($1.8b) ($1.9b) ($1.7b) ($2.2b) ($3.5b) ($2.2b) —
Acquisitions, net of cash ($2.0b) ($27.7m) $0 — — — $0 $0 $852.0m $0 —
Payments to Acquire Businesses, Net of Cash Acquired $2.0b $27.7m $0 — — — — — ($852.0m) $0 —
Net Other Investing Changes — — — — — — $125.0m ($23.0m) ($30.0m) $106.0m $83.0m
Payments for (Proceeds from) Other Investing Activities $45.9m ($110.5m) ($21.7m) $348.5m $62.2m $523.9m ($125.4m) $23.0m $30.0m ($106.0m) —
Net cash used for investing activities ($2.7b) ($1.4b) ($554.0m) ($1.8b) ($3.0b) ($2.1b) ($3.1b) ($5.5b) ($4.5b) ($4.0b) —
Net Cash Provided by (Used in) Investing Activities — — — ($1.8b) ($3.0b) ($2.1b) ($3.1b) ($5.5b) ($4.5b) ($4.0b) ($4.0b)
Cash flows from financing activities:
Issuance Of Debt — — — — — $0 $0 — — — $0
Long Term Debt Issuance — — — — — $0 $0 — — — $0
Long Term Debt Payments — — — — — $0 $0 — — — $0
Net Issuance Payments Of Debt — — — — — $0 $0 — — — $0
Repayment Of Debt — — — — — $0 $0 — — — $0
Common Stock Dividend Paid — — — — — — $0 $0 ($1.9b) ($7.0m) ($5.0m)
Common Stock Issuance — — — — — $6.0m $6.0m — $7.0m $50.0m $40.0m
Common Stock Payments — — — — — — ($586.0m) ($2.0m) ($24.0m) ($1.9b) ($3.5b)
Issuance Of Capital Stock — — — — — — $6.0m $0 $7.0m $50.0m $40.0m
Net Common Stock Issuance — — — — — — ($580.0m) ($2.0m) ($17.0m) ($1.8b) ($3.4b)
Payments for Repurchase of Common Stock $75.3m $0 $282.8m $2.9m $83.5m $1.2b $585.8m $0 $24.0m $1.9b —
Repurchase Of Capital Stock — — — — — — ($586.0m) ($2.0m) ($24.0m) ($1.9b) ($3.5b)
Cash Dividends Paid — — — — — — ($40.0m) ($40.0m) ($1.9b) ($47.0m) ($45.0m)
Common dividends paid — — — — — — $0 $0 ($1.9b) ($7.0m) —
Preferred Stock Dividend Paid — — — — — — ($40.0m) ($40.0m) ($40.0m) ($40.0m) ($40.0m)
Preferred dividends paid ($28) ($46) ($42) ($42) ($42) ($48) ($41) ($40) ($40) ($40) —
Net Other Financing Charges — — — — — — ($86.0m) ($27.0m) ($2.0m) ($4.0m) ($14.0m)
Net cash provided by (used for) financing activities $1.6b
($3.4m) -100.21%
($988.8m) -28939.94%
($80.7m) +91.84%
$521.3m +746.25%
($1.2b) -335.87%
($705.7m) +42.60%
($69.0m) +90.22%
($1.9b) -2689.86%
($1.9b) +1.82%
—
Net Cash Provided by (Used in) Financing Activities — — — ($80.7m)
$521.3m +746.25%
($1.2b) -335.87%
($705.7m) +42.60%
($69.0m) +90.22%
($1.9b) -2689.86%
($1.9b) +1.82%
($1.9b) -1.53%
Increase (decrease) in cash and restricted cash $288.5m ($242.3m) ($2.6m) $179.1m $386.8m $24.2m ($41.4m) $225.0m $262.0m $307.0m —
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — ($2.6m) $179.1m $386.8m $24.2m ($41.4m) $225.0m $262.0m $307.0m $2.0b
Beginning Cash Position — — — — — — $1.3b $1.3b $1.5b $1.8b $1.8b
Cash and restricted cash, beginning of year $969.6m $727.3m $724.6m $903.7m $1.3b $1.3b $1.3b $1.5b $1.8b $2.1b —
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — $724.6m $903.7m $1.3b $1.3b $1.3b $1.5b $1.8b $2.1b $2.0b
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — ($19.1m) $17.7m $22.3m ($34.0m) ($48.9m) $13.0m ($25.0m) $61.0m ($9.0m)
Effects of exchange rate changes on foreign currency cash and restricted cash ($21.2m) $18.1m ($19.1m) $17.7m $22.3m ($34.0m) ($48.9m) $13.0m ($25.0m) $61.0m —
Effect Of Exchange Rate Changes — — — — — — ($50.0m) $13.0m ($25.0m) $61.0m ($9.0m)
Additional Supplementary Disclosures
Additional Supplementary Disclosures
Additional Financial Items
Cash Flow From Continuing Financing Activities — — — — — — ($706.0m) ($69.0m) ($1.9b) ($1.9b) ($1.9b)
Cash Flow From Continuing Investing Activities — — — — — — ($3.1b) ($5.5b) ($4.5b) ($4.0b) ($4.0b)
Change In Account Payable — — — — — — ($36.0m) $455.0m $179.0m $137.0m $389.0m
Change In Cash Supplemental As Reported — — — — — — ($41.0m) $225.0m $262.0m $307.0m —
Change In Other Working Capital — — — — — — ($434.0m) ($1.3b) ($394.0m) $309.0m $177.0m
Change In Payable — — — — — — ($36.0m) $455.0m $179.0m $137.0m $389.0m
Changes In Cash — — — — — — $9.0m $212.0m $287.0m $246.0m $207.0m
Deferred acquisition costs ($38.6m) ($78.4m) ($37.8m) ($47.3m) ($143.9m) ($263.2m) ($374.1m) ($235.0m) ($212.0m) $86.0m —
Derivative, Gain (Loss) on Derivative, Net ($22.6m) ($7.4m) $15.6m $119.7m $179.7m ($32.4m) ($75.0m) $59.0m $8.0m $327.0m —
End Cash Position — — — — — — $1.3b $1.5b $1.8b $2.1b $2.0b
Equity Securities, FV-NI, Realized Gain (Loss) — — ($40.1m) $11.3m $26.8m $122.6m $74.9m $61.0m $62.0m $84.0m —
Equity Securities, FV-NI, Unrealized Gain (Loss) — — ($22.8m) $97.8m $102.4m $48.7m ($267.9m) $88.0m $108.0m $130.0m —
Financing Cash Flow — — — — — — ($706.0m)
($69.0m) +90.23%
($1.9b) -2689.86%
($1.9b) +1.82%
($1.9b) -1.53%
Foreign Currency Transaction Gain (Loss), before Tax $36.7m ($115.8m) $69.4m ($20.6m) ($83.6m) $41.5m $100.9m ($60.0m) $75.0m ($128.0m) —
Free Cash Flow — — — — — — $3.8b $5.7b $6.6b $6.1b $6.1b
Gain Loss On Investment Securities — — — — — — $651.0m $182.0m ($185.0m) ($440.0m) ($252.0m)
General and Administrative Expense $81.7m $83.8m $79.0m $80.1m $82.0m $79.2m $95.5m $102.0m $200.0m $132.0m —
Goodwill $204.0m $198.2m $249.6m $326.6m $314.6m $344.9m $342.1m $345.0m $571.0m $607.0m —
Income Tax Expense (Benefit) $31.4m $127.6m $114.0m $155.8m $111.8m $128.6m $80.0m ($873.0m) $362.0m $760.0m —
Income Taxes Paid, Net $50.6m $51.8m ($980k) $109.5m $202.9m $286.8m $254.9m $267.0m $378.0m $458.0m —
Interest Paid, Excluding Capitalized Interest, Operating Activities $63.3m $117.4m $119.8m $126.9m $133.5m $139.3m $128.4m $127.0m $127.0m $127.0m —
Investing Cash Flow — — — — — — ($3.1b) ($5.5b) ($4.5b) ($4.0b) ($4.0b)
Net Business Purchase And Sale — — — — — — $0 $0 $852.0m $0 $0
Net Investment Purchase And Sale — — — — — — ($3.2b) ($5.4b) ($5.2b) ($4.1b) ($4.0b)
Net PPE Purchase And Sale — — — — — — ($50.0m) ($52.0m) ($51.0m) ($44.0m) ($45.0m)
Net Preferred Stock Issuance — — — — — $36.0m $0 $0 — — —
Net realized (gains) losses ($178.5m) ($174.5m) $387.6m ($381.1m) ($844.6m) ($427.4m) $651.6m $182.0m ($185.0m) ($440.0m) —
Net settlements of derivative instruments ($17.1m) ($28.6m) $44.7m $60.0m $179.0m ($40.1m) ($68.8m) $50.0m ($5.0m) $310.0m —
Operating Gains Losses — — — — — — $805.0m ($33.0m) ($673.0m) ($899.0m) ($867.0m)
Operating Lease, Expense — — — $30.5m $31.8m — — — — — —
Other items, net ($3.9m) ($93.9m) $60.2m ($41.1m) $10.1m ($340.4m) ($435.1m) ($92.0m) ($359.0m) $135.0m —
Preferred Stock Issuance — — — — — $486.0m $0 $0 — — —
Preferred Stock Payments — — — — — ($450.0m) $0 $0 — — —
Premiums receivable ($71.6m) ($31.4m) ($211.3m) ($237.8m) ($318.6m) ($685.2m) ($1.1b) ($981.0m) ($818.0m) $38.0m —
Proceeds from (Payments to) Noncontrolling Interests — — — ($75.1m) ($2.9m) $16.0m $0 $0 — — —
Proceeds from Issuance of Redeemable Preferred Stock $0 — — — — — — — — — —
Proceeds from Noncontrolling Interests $0 — — — — — — — — — —
Proceeds from common shares issued, net ($2.4m) ($21.0m) ($7.6m) $6.2m $1.9m $6.4m $6.7m ($2.0m) $7.0m $50.0m —
Proceeds from sales of equity securities $751.7m $1.1b $1.1b $429.8m $1.1b $918.1m $1.6b $288.0m $1.1b $1.5b —
Purchase Of Business — — — — — ($1.1b) $0 $0 — — —
Purchase Of Investment — — — — — — ($19.0b) ($21.4b) ($36.5b) ($40.2b) ($41.9b)
Purchase Of PPE — — — — — — ($50.0m) ($52.0m) ($51.0m) ($44.0m) ($45.0m)
Purchases of common shares under share repurchase program ($75.3m) $0 ($282.8m) ($2.9m) ($83.5m) ($1.2b) ($585.8m) $0 ($24.0m) ($1.9b) —
Purchases of equity securities ($665.7m) ($1.0b) ($1.0b) ($812.0m) ($1.6b) ($1.2b) ($797.0m) ($456.0m) ($1.4b) ($1.4b) —
Purchases of fixed assets ($15.3m) ($22.8m) ($29.8m) ($37.8m) ($39.9m) ($41.4m) ($51.7m) ($52.0m) ($51.0m) ($44.0m) —
Reinsurance balances payable $31.5m $8.5m $73.4m $182.1m $66.0m $500.1m ($35.5m) $455.0m $179.0m $137.0m —
Reserve for losses and loss adjustment expenses, net of unpaid losses and loss adjustment expenses recoverable $372.2m $614.5m $243.7m $490.0m $2.1b $1.8b $1.9b $2.1b $3.3b $2.4b —
Sale Of Business — — — — — — $0 $0 $852.0m $0 $0
Sale Of Investment — — — — — — $15.8b $16.0b $31.2b $36.1b $37.9b
Stock Based Compensation — — — — — — $88.0m $93.0m $133.0m $148.0m $146.0m
Supplemental disclosure of cash flow information:
Third party investment in redeemable noncontrolling interests $0 — — — — $0 $0 ($22.0m) $0 $0 —

Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.