← REINSURANCE GROUP OF AMERICA 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 $701.4m
$1.8b +159.78%
$715.8m -60.72%
$870.0m +21.54%
$415.0m -52.30%
$617.0m +48.67%
$623.0m +0.97%
$902.0m +44.78%
$717.0m -20.51%
$1.2b +64.85%
—
Net Income (Loss) Attributable to Noncontrolling Interest — — — — — — $4.0m $7.0m $7.0m $7.0m —
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest — — — — — — $627.0m $909.0m $724.0m $1.2b —
Amortization Of Securities — — — — — — ($71.0m) ($127.0m) ($214.0m) ($271.0m) ($271.0m)
Amortization of net investment premiums, discounts and other ($94.0m) ($105.4m) ($57.4m) ($55.0m) ($46.0m) ($54.0m) ($71.0m) ($127.0m) ($214.0m) ($271.0m) —
Capitalized Computer Software, Amortization $10.3m $35.7m $26.9m $31.0m $32.0m $27.0m $24.0m — — — —
Deferred Policy Acquisition Costs, Amortization Expense ($341.1m) $432.5m $437.7m $315.0m $405.0m $496.0m $547.0m — $1.6b $1.8b —
Depreciation $16.6m $17.2m $18.3m $18.0m $17.0m $16.0m $15.0m $41.0m $46.0m $43.0m $43.0m
Depreciation and amortization expense $26.9m $52.9m $45.1m $49.0m $49.0m $43.0m $38.0m $41.0m $46.0m $43.0m $43.0m
Depreciation, Depletion and Amortization $26.9m $52.9m $45.1m $49.0m $49.0m $43.0m $38.0m $41.0m $46.0m $43.0m $43.0m
Deferred Income Tax Expense (Benefit) $293.8m ($847.3m) $76.5m $211.0m ($16.0m) ($89.0m) $75.0m $211.0m ($61.0m) $340.0m —
Share-based Payment Arrangement, Expense $33.1m $22.3m $30.1m $39.0m ($12.0m) $55.0m $45.0m $46.0m $60.0m $42.0m —
Asset Impairment Charge — — — — — — $0 $0 $23.0m $41.0m $41.0m
Impairment of Intangible Assets (Excluding Goodwill) — — — — — $4.0m $4.0m — — — —
Earnings (Loss)es From Equity Investments — — — — — — ($331.0m) ($181.0m) ($96.0m) ($193.0m) ($193.0m)
Change In Working Capital — — — — — — $442.0m $3.1b $8.3b $3.2b $3.2b
Change In Receivables — — — — — — ($188.0m) ($746.0m) ($166.0m) ($355.0m) ($355.0m)
Changes In Account Receivables — — — — — — ($188.0m) ($746.0m) ($166.0m) ($355.0m) ($355.0m)
Reinsurance ceded receivables and other ($53.2m) ($124.1m) $66.3m ($178.0m) ($115.0m) ($107.0m) $91.0m ($209.0m) $231.0m $67.0m —
Accrued investment income ($18.8m) ($43.1m) $7.2m ($4.0m) ($11.0m) ($15.0m) ($111.0m) ($99.0m) ($132.0m) ($123.0m) —
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims — — $10.2b $10.5b $11.3b $12.8b $10.9b $1.4b $1.4b $1.9b —
Other assets and other liabilities, net ($98.7m) $242.5m ($162.8m) $113.0m $225.0m ($97.0m) ($2.0m) $68.0m $257.0m ($388.0m) —
Net Cash Provided by (Used in) Operating Activities $1.5b
$2.0b +35.24%
$1.6b -20.24%
$2.3b +45.91%
$3.3b +44.00%
$4.2b +25.89%
$1.3b -67.89%
$4.0b +201.12%
$9.4b +131.70%
$4.1b -56.34%
$4.1b 0.00%
Cash flows from investing activities:
Payments for (Proceeds from) Productive Assets — — — — — $547.0m ($140.0m) $102.0m ($28.0m) ($276.0m) —
Payments to Acquire Property, Plant, and Equipment $44.6m $44.2m $28.9m $34.0m $28.0m $19.0m $25.0m — — — —
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded — — — — — — — — $56.0m $96.0m —
Payments to Acquire Short-Term Investments — — — — — ($185.0m) ($528.0m) ($601.0m) ($1.0b) ($1.5b) —
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale $472.4m $589.2m $626.6m $907.0m $973.0m $887.0m $906.0m $967.0m $1.2b $1.2b —
Proceeds from Maturities, Prepayments and Calls of Short-Term Investments — — — — — $146.0m $131.0m $187.0m $343.0m $714.0m —
Proceeds from Sale of Short-Term Investments — — — — — $410.0m $317.0m $353.0m $772.0m $1.0b —
Gain (Loss) on Investments $94.2m $167.9m ($170.1m) $91.0m ($33.0m) $560.0m ($506.0m) ($481.0m) ($745.0m) ($245.0m) $247.0m
Payments to Acquire Businesses, Net of Cash Acquired $0 $0 $31.4m ($4.0m) $0 $156.0m $0 $0 — — ($1.2b)
Net Other Investing Changes — — — — — — ($199.0m) $303.0m $232.0m ($613.0m) ($527.0m)
Payment for (Proceeds from) Other Investing Activity ($97.8m) ($121.2m) ($365.2m) ($304.0m) ($335.0m) $397.0m ($140.0m) ($49.0m) ($14.0m) $143.0m —
Payments for (Proceeds from) Other Investing Activities $97.8m $121.2m $365.2m $304.0m $335.0m ($397.0m) $140.0m $49.0m $14.0m ($143.0m) —
Net Cash Provided by (Used in) Investing Activities ($2.8b) ($1.6b) ($636.6m) ($2.6b) ($2.7b) ($4.6b) ($5.7b) ($4.1b) ($12.5b) ($12.1b) ($14.9b)
Cash flows from financing activities:
Issuance Of Debt — — — — — — $690.0m $890.0m $640.0m $691.0m $395.0m
Long Term Debt Issuance — — — — — — $690.0m $890.0m $640.0m $691.0m $395.0m
Long Term Debt Payments — — — — — — ($584.0m) ($428.0m) ($28.0m) ($29.0m) ($429.0m)
Net Issuance Payments Of Debt — — — — — — $106.0m $462.0m $612.0m $662.0m ($34.0m)
Net Long Term Debt Issuance — — — — — — $106.0m $462.0m $612.0m $662.0m ($34.0m)
Principal payments of long-term debt ($2.5m) ($302.6m) ($2.7m) ($403.0m) ($3.0m) ($403.0m) ($403.0m) ($428.0m) ($28.0m) ($29.0m) —
Proceeds from Issuance of Long-term Debt $800.0m $0 $0 $599.0m $598.0m $500.0m $700.0m $890.0m $640.0m $691.0m $395.0m
Proceeds from long-term debt issuance, net $800.0m $0 $0 $599.0m $598.0m $500.0m $700.0m $890.0m $640.0m $691.0m —
Repayment Of Debt — — — — — — ($584.0m) ($428.0m) ($28.0m) ($29.0m) ($429.0m)
Common Stock Dividend Paid — — — — — — ($205.0m) ($219.0m) ($229.0m) ($240.0m) ($244.0m)
Common Stock Issuance — — — — — — $0 $0 $0 $4.0m $9.0m
Common Stock Payments — — — — — — ($81.0m) ($227.0m) ($27.0m) ($174.0m) ($282.0m)
Issuance Of Capital Stock — — — — — — $0 $0 $0 $4.0m $9.0m
Net Common Stock Issuance — — — — — — ($81.0m) ($227.0m) ($27.0m) ($170.0m) ($273.0m)
Proceeds from Issuance of Common Stock — — — — $481.0m $0 $0 — — — $9.0m
Repurchase Of Capital Stock — — — — — — ($81.0m) ($227.0m) ($27.0m) ($174.0m) ($282.0m)
Cash Dividends Paid — — — — — — ($205.0m) ($219.0m) ($229.0m) ($240.0m) ($244.0m)
Dividends paid $100.4m $117.3m $140.1m $163.0m $182.0m $194.0m $205.0m $219.0m $229.0m $240.0m ($244.0m)
Dividends to shareholders ($100) ($117) ($140) ($163) ($182) ($194) ($205) ($219) ($229) ($240) —
Net Other Financing Charges — — — — — — $4.4b ($541.0m) $3.1b $7.6b $9.6b
Net Cash Provided by (Used in) Financing Activities $1.1b
($324.6m) -130.76%
($322.0m) +0.82%
($121.0m) +62.42%
$1.3b +1136.36%
$20.0m -98.41%
$4.4b +22080.00%
$78.0m -98.24%
$3.7b +4593.59%
$8.8b +140.32%
$9.6b +9.46%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — — — $2.0b ($460.0m) ($21.0m) $43.0m $356.0m $842.0m $5.4b
Beginning Cash Position — — — — — — $2.9b $2.9b $3.0b $3.3b $5.4b
Cash and cash equivalents, beginning of period $1.2b $1.3b $1.9b $1.4b $3.4b $2.9b $2.9b $3.0b $3.3b $4.2b —
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — — — — $2.9b $3.0b $3.3b $4.2b $5.4b
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — — — — ($112.0m) ($13.0m) ($130.0m) $47.0m ($92.0m)
Effect Of Exchange Rate Changes ($19.9m) $52.7m ($36.4m) $11.0m $63.0m ($34.0m) ($112.0m) ($13.0m) ($130.0m) $47.0m ($92.0m)
Additional Supplementary Disclosures
Additional Supplementary Disclosures
Additional Financial Items
Cash Flow From Continuing Financing Activities — — — — — — $4.4b $78.0m $3.7b $8.8b $9.6b
Cash Flow From Continuing Investing Activities — — — — — — ($5.7b) ($4.1b) ($12.5b) ($12.1b) ($14.9b)
Change In Cash Supplemental As Reported — — — — — — ($21.0m) $43.0m $356.0m $842.0m —
Change In Other Working Capital — — — — — — $322.0m $279.0m $196.0m ($37.0m) ($37.0m)
Change In Payable — — — — — — ($63.0m) $49.0m ($123.0m) ($228.0m) ($228.0m)
Change in cash and cash equivalents ($324.6m) $102.8m $586.2m ($441.0m) $2.0b ($460.0m) $2.9b $3.0b $3.3b $4.2b —
Change in cash collateral for derivatives and repurchase/reverse repurchase agreements — — $44.0m ($163.0m) ($32.0m) $31.0m $230.0m $603.0m $187.0m $911.0m —
Changes In Cash — — — — — — $91.0m $56.0m $486.0m $795.0m ($36.0m)
Decrease In Funds Withheld Net Of Reinsurance Recoverable And Deposit Receivable — — — — — $82.0m ($63.0m) $49.0m ($123.0m) ($228.0m) —
Decrease In Reinsurance Deposits Financing Activities — — — — $0 $91.0m ($44.0m) $227.0m $268.0m $181.0m —
Deferred policy acquisition costs and other $31.0m $154.2m ($107.3m) ($198.0m) ($95.0m) ($71.0m) ($156.0m) ($490.0m) ($322.0m) ($441.0m) —
Deposits on investment-type policies and contracts $1.0b $1.0b $864.2m $1.3b $1.6b $1.7b $5.7b $2.9b $7.6b $12.1b —
End Cash Position — — — — — — $2.9b $3.0b $3.3b $4.2b $5.4b
Equity Securities, FV-NI, Gain (Loss) — — — — — $25.0m ($21.0m) ($1.0m) $1.0m $8.0m —
Financing Cash Flow — — — — — — $4.4b
$78.0m -98.24%
$3.7b +4593.59%
$8.8b +140.32%
$9.6b +9.46%
Free Cash Flow — — — — — — $1.3b $4.0b $9.4b $4.1b $5.2b
Future policy benefits, other policy claims and benefits and other reinsurance balances — — — $1.5b $2.8b $5.1b $1.1b $4.1b $8.8b $4.3b —
Gain (Loss) on Disposition of Business — — — — — $11.0m $2.0m $0 $0 — —
Gain (Loss) on Sale of Derivatives — — — — — — ($301.0m) ($163.0m) $116.0m ($14.0m) —
Gain Loss On Investment Securities — — — — — — $200.0m $189.0m $609.0m $247.0m $247.0m
Gain Loss On Sale Of Business — — — — — ($11.0m) ($2.0m) $0 $0 — $0
Gains (Losses) on Sales of Investment Real Estate — — — — — — — ($16.0m) ($26.0m) ($24.0m) —
Goodwill $7.0m $7.0m $7.0m $7.0m $7.0m $7.0m $7.0m — — — $41.0m
Income Tax Expense (Benefit) $342.5m ($679.4m) $130.0m $262.0m $138.0m $74.0m $204.0m $251.0m $256.0m $351.0m —
Income Taxes Paid, Net $61.1m $37.1m $141.7m $44.0m $108.0m $368.0m $129.0m $298.0m $78.0m $252.0m —
Income from limited partnerships and real estate joint ventures — — — — ($50.0m) ($419.0m) ($331.0m) ($181.0m) ($96.0m) ($193.0m) —
Increase (Decrease) in Future Policy Benefit Reserves — — — — — $567.0m $291.0m ($62.0m) ($32.0m) $0 —
Interest Paid, Excluding Capitalized Interest, Operating Activities $156.7m $173.5m $170.2m $180.0m $166.0m $160.0m $163.0m $217.0m $213.0m $255.0m —
Investing Cash Flow — — — — — — ($5.7b) ($4.1b) ($12.5b) ($12.1b) ($14.9b)
Investment related losses, net ($94.2m) ($167.9m) $170.1m ($91.0m) $33.0m ($560.0m) $506.0m $481.0m $745.0m $245.0m —
Market Risk Benefit, Change in Fair Value, Gain (Loss) — — — — — — — $10.0m $44.0m ($8.0m) —
Market Risk Benefit, Increase (Decrease) from Equity Market Change — — — — — ($58.0m) $10.0m ($10.0m) ($44.0m) $8.0m —
Net Business Purchase And Sale — — — — — — $17.0m ($77.0m) ($320.0m) ($527.0m) ($539.0m)
Net Investment Purchase And Sale — — — — — — ($5.2b) ($3.4b) ($11.2b) ($8.7b) ($11.9b)
Net PPE Purchase And Sale — — — — — ($19.0m) ($25.0m) — — — —
Net deposits in funds withheld at interest — — — — — ($67.0m) ($36.0m) $352.0m $274.0m $529.0m —
Non-cash deposits on reinsurance — — — $0 $0 $1.6b $0 $2.8b $637.0m $1.9b —
Operating Gains Losses — — — — — — ($133.0m) $8.0m $513.0m $54.0m $54.0m
Other Non Cash Items — — — — — — $211.0m ($207.0m) ($92.0m) ($78.0m) —
Other, net $117.9m $24.2m ($1.3m) ($57.0m) ($98.0m) ($436.0m) ($217.0m) ($135.0m) ($16.0m) ($86.0m) —
Payments to Acquire Available-for-sale Securities ($7.4b) ($8.9b) ($9.7b) ($15.7b) ($9.6b) ($18.1b) ($16.5b) ($12.6b) ($40.7b) ($37.7b) ($48.2b)
Payments to Acquire Available-for-sale Securities, Equity ($584.5m) ($81.3m) ($13.4m) ($312.0m) ($22.0m) ($22.0m) ($15.0m) ($5.0m) ($6.0m) ($150.0m) ($48.2b)
Payments to Acquire Mortgage Notes Receivable ($1.1b) ($964.4m) ($1.0b) ($1.2b) ($780.0m) ($1.2b) ($1.3b) ($1.3b) ($1.9b) ($3.2b) —
Payments to Acquire Notes Receivable — — — — — — — $0 $0 ($1.0b) —
Payments to Acquire Real Estate and Real Estate Joint Ventures — — — — ($315.0m) ($648.0m) ($700.0m) ($551.0m) ($578.0m) ($1.1b) —
Premiums receivable and other reinsurance balances ($156.8m) ($346.7m) ($764.2m) $110.0m $162.0m ($100.0m) ($233.0m) ($537.0m) ($397.0m) ($422.0m) —
Proceeds From Stock Option Exercised — — — — — $0 $0 — — — $0
Proceeds from Issuance or Sale of Equity — — — — — — — $0 $0 $4.0m —
Proceeds from Noncontrolling Interests — — — — — — $90.0m $0 $0 — —
Proceeds from Real Estate and Real Estate Joint Ventures — — — — $142.0m $498.0m $710.0m $474.0m $258.0m $546.0m —
Proceeds from Sale and Collection of Mortgage Notes Receivable $442.8m $339.9m $445.4m $490.0m $661.0m $991.0m $963.0m $436.0m $640.0m $930.0m —
Proceeds from Sale and Collection of Notes Receivable — — — — — — — $0 $0 $3.0m —
Proceeds from Sale of Available-for-sale Securities, Equity $434.5m $207.3m $45.9m $98.0m $181.0m $30.0m $7.0m $1.0m $7.0m $59.0m —
Proceeds from Stock Options Exercised $15.3m $7.3m $3.5m $6.0m $1.0m $0 $0 — — — —
Purchase Of Business — — — — — — ($700.0m) ($551.0m) ($578.0m) ($1.1b) ($1.2b)
Purchase Of Investment — — — — — — ($17.1b) ($13.3b) ($41.7b) ($39.4b) ($48.2b)
Purchase Of PPE — — — — — ($19.0m) ($25.0m) — — — —
Purchases of treasury stock ($122.9m) ($43.5m) ($299.7m) ($101.0m) ($163.0m) ($99.0m) ($81.0m) ($227.0m) ($27.0m) ($174.0m) —
Realized Investment Gains (Losses) $94.2m $167.9m ($170.1m) $91.0m ($33.0m) $560.0m ($506.0m) ($481.0m) ($745.0m) ($245.0m) —
Right-of-use assets acquired through operating leases — — — $1.0m $23.0m $0 $0 $0 $1.0m $10.0m —
Sale Of Business — — — — — — $717.0m $474.0m $258.0m $546.0m $671.0m
Sale Of Investment — — — — — — $11.9b $9.8b $30.5b $30.7b $36.3b
Sales of fixed maturity securities available-for-sale $4.6b $7.3b $9.3b $13.2b $6.5b $12.1b $10.6b $8.2b $28.2b $27.7b —
Supplemental disclosure of cash flow information:
Transfer of invested assets $120.5m $3.3b $4.6b $6.3b $93.0m $1.8b $618.0m $2.0b $9.6b $16.9b —
Withdrawals on investment-type policies and contracts ($529.0m) ($752.4m) ($694.4m) ($1.1b) ($803.0m) ($1.4b) ($1.4b) ($3.6b) ($4.7b) ($4.6b) —

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.