← MARKEL GROUP INC.

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 $455.7m
$395.3m -13.26%
($128.2m) -132.43%
$1.8b +1496.84%
$816.0m -54.42%
$2.4b +197.17%
($214.1m) -108.83%
$2.0b +1032.20%
$2.7b +37.62%
$2.1b -23.30%
—
Net Income (Loss) Available to Common Stockholders, Basic $460.4m
$400.8m -12.96%
($130.4m) -132.53%
$1.8b +1480.45%
$797.6m -55.67%
$2.4b +199.51%
($250.1m) -110.47%
$2.0b +883.64%
$2.7b +38.31%
$2.1b -23.24%
—
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $460.4m $400.8m ($130.4m) $1.8b $831.8m $2.4b ($101.2m) $2.1b $2.8b $2.2b —
Net Income (Loss) Attributable to Noncontrolling Interest $4.8m $5.5m ($2.2m) $9.0m $15.7m $22.7m $112.9m $105.0m $100.4m $45.4m —
Depreciation, Amortization and Accretion, Net $194.1m $203.9m $227.8m $269.2m $307.1m $336.4m $367.0m $259.9m $342.4m $347.9m $347.9m
Amortization of Intangible Assets $68.5m $80.8m $115.9m $148.6m $159.3m $160.5m $178.8m $180.6m $181.5m $185.0m —
Deferred Policy Acquisition Costs, Amortization Expense $782.2m $894.4m $1.0b $1.1b $1.2b $1.4b $1.7b $1.8b $1.8b $1.8b —
Depreciation $64.8m $71.6m $80.9m — — — — — — — $347.9m
Deferred Income Tax Expense (Benefit) $63.4m ($324.1m) $2.7m $323.4m ($2.7m) $453.9m ($281.8m) $233.8m $394.6m $151.2m $151.2m
Goodwill and Intangible Asset Impairment — — $199.2m $0 $0 — $80.0m — — — —
Goodwill, Impairment Loss $18.7m $0 $91.9m $0 $0 $0 $80.0m $0 $0 $0 $0
Impairment of Intangible Assets (Excluding Goodwill) — — $107.3m — — — $0 $0 $0 $0 —
Marketable Securities, Realized Gain (Loss), Excluding Other-than-temporary Impairment Loss $83.5m $2.3m ($12.0m) ($1.5m) — — — — — — —
Income (Loss) from Equity Method Investments $6.9m $11.1m ($1.9m) $4.4m ($4.4m) $8.9m ($22.9m) ($2.1m) $58.7m $70.4m —
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims $2.1b $2.9b $2.8b $2.9b $3.5b $3.6b $4.4b $5.3b $5.1b $5.1b —
Net Cash Provided by (Used in) Operating Activities $534.6m
$858.5m +60.59%
$892.9m +4.00%
$1.3b +42.70%
$1.7b +36.38%
$2.3b +30.88%
$2.7b +19.15%
$2.8b +2.86%
$2.6b -6.92%
$2.8b +6.45%
$2.3b -15.78%
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $63.7m $74.7m $106.6m $123.4m $101.3m $145.2m $254.7m $258.6m $255.0m $206.9m ($207.1m)
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale $963.2m $1.1b $551.8m $772.3m $642.1m $684.0m $1.2b $2.1b $2.1b $2.4b —
Debt Securities, Available-for-sale, Realized Gain (Loss) — — ($12.0m) ($1.5m) $14.8m — — — — — —
Payments to Acquire Investments — — $1.5b $956.0m $1.3b $3.4b — — — — ($4.5b)
Payments to Acquire Businesses, Net of Cash Acquired $7.5m $1.4b $1.2b $245.3m $554.1m $517.4m $79.0m $3.6m $207.8m $106.2m ($70.6m)
Payments for (Proceeds from) Other Investing Activities $1.3m ($5.6m) $42.2m ($16.8m) ($78.0m) ($49.9m) $8.3m ($23.1m) ($32.2m) ($133.6m) —
Net Cash Provided by (Used in) Investing Activities ($1.5b) ($744.5m) ($797.2m) ($535.2m) ($511.7m) ($2.9b) ($1.7b) ($2.7b) ($2.4b) ($1.2b) ($1.8b)
Cash flows from financing activities:
Gain (Loss) on Extinguishment of Debt ($44.1m) $0 $0 ($17.6m) $0 $0 — — — — —
Payments for Repurchase of Common Stock $51.1m $110.8m $54.0m $116.3m $26.8m $206.5m $290.8m $445.5m $572.7m $429.5m —
Proceeds from Issuance of Common Stock $4.6m $552k — — — — — — — — —
Other Interest and Dividend Income $2.7m ($828k) $881k $5.3m $434k ($1.7m) — — — — —
Proceeds from (Payments for) Other Financing Activities ($15.4m) ($6.8m) ($4.1m) ($6.0m) ($59.3m) ($99.5m) ($47.6m) ($41.2m) ($8.9m) ($9.9m) —
Net Cash Provided by (Used in) Financing Activities $152.0m
$256.3m +68.61%
($179.0m) -169.83%
$359.3m +300.75%
$434.6m +20.94%
$369.8m -14.91%
($595.3m) -261.00%
($999.7m) -67.93%
($297.9m) +70.20%
($1.2b) -306.23%
($703.8m) +41.84%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect ($33.1m) $415.7m ($104.4m) $1.1b $1.7b ($335.7m) $340.6m ($889.5m) ($139.8m) $411.1m $4.1b
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents ($33.1m) $2.5b $2.4b $3.5b $5.2b $4.9b $5.2b $4.3b $4.2b $4.6b $4.1b
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents ($33.1m) $45.3m ($21.0m) $5.6m $55.9m ($41.7m) ($103.4m) $27.0m ($37.3m) $49.8m ($29.9m)
Additional Supplementary Disclosures
Additional Supplementary Disclosures
Additional Financial Items
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement $0 $0 — — — — — — — — —
Equity Securities, FV-NI, Gain (Loss) — — ($425.6m) $1.6b $603.2m $1.9b ($1.6b) $1.6b $1.8b $1.1b —
Equity Securities, FV-NI, Realized Gain (Loss) — — — — ($470.0m) $25.9m ($14.9m) $34.7m ($15.0m) $3.0m —
Equity Securities, FV-NI, Unrealized Gain (Loss) — — — — $1.1b $1.9b ($1.5b) $1.5b $1.8b $1.1b —
Foreign Currency Transaction Gain (Loss), Realized — — $106.6m ($2.3m) ($95.9m) $72.3m $140.2m ($90.0m) $129.4m ($256.2m) —
Gain (Loss) on Disposition of Business — — — — — — $225.8m $19.0m $0 — —
Goodwill $1.1b $1.8b $2.2b $2.3b $2.6b $2.9b $2.6b $2.6b $2.7b $2.8b $0
Income Tax Expense (Benefit) $169.5m ($313.5m) $122.5m $486.3m $168.7m $684.5m ($47.6m) $552.6m $790.3m $580.3m —
Operating Lease, Expense — — — — — $115.4m $126.3m $148.4m $169.0m $188.7m —
Proceeds from (Payments to) Noncontrolling Interests — — — — — — — — ($54.0m) ($38.7m) —
Realized Investment Gains (Losses) $65.1m ($5.3m) ($437.6m) $1.6b $618.0m $2.0b ($1.6b) $1.5b $1.8b $1.1b —

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.