← F&G Annuities & Life, Inc.

	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Net earnings (loss)	$865.0m	$481.0m	($58.0m)	$642.0m	$271.0m
Depreciation and amortization	$484.0m	$329.0m	$412.0m	$569.0m	$665.0m
(Gain) loss on sales of investments and other assets and asset impairments, net	($576.0m)	$436.0m	$461.0m	($210.0m)	$128.0m
Interest credited/index credits to contractholder account balances	$804.0m	($542.0m)	$1.4b	$1.3b	$202.0m
Change in market risk benefits, net	($44.0m)	($182.0m)	$95.0m	($25.0m)	$167.0m
Deferred policy acquisition costs and deferred sales inducements	($675.0m)	($814.0m)	($1.1b)	($1.4b)	($1.3b)
Charges assessed to contractholders for mortality and administration	($180.0m)	($212.0m)	($255.0m)	($291.0m)	($330.0m)
Distributions from unconsolidated affiliates, return on investment	$70.0m	$119.0m	$104.0m	$108.0m	$176.0m
Stock-based compensation cost	$9.0m	$12.0m	$23.0m	$29.0m	$31.0m
Change in NAV of limited partnerships, net	($589.0m)	($109.0m)	($220.0m)	($350.0m)	($349.0m)
Change in valuation of derivatives, equity and preferred securities and other assets, net	($140.0m)	$561.0m	($347.0m)	$60.0m	($144.0m)
Change in reinsurance recoverable	$94.0m	$21.0m	$94.0m	($19.0m)	($5.0m)
Change in derivative collateral liabilities	—	($398.0m)	$410.0m	$91.0m	$249.0m
Change in future policy benefits	$634.0m	$1.2b	$1.3b	$1.9b	$1.7b
Change in funds withheld from reinsurers	$850.0m	$2.1b	$3.4b	$3.8b	$3.3b
Net change in income taxes	$138.0m	$170.0m	($4.0m)	$103.0m	$22.0m
Net change in other assets and other liabilities	$69.0m	($528.0m)	$491.0m	($264.0m)	($103.0m)
Additions to property and equipment and capitalized software	($33.0m)	($32.0m)	($27.0m)	($24.0m)	($15.0m)
Other acquisitions/disposals, net of cash acquired	($43.0m)	$0	$0	($482.0m)	$0
Additional investments in unconsolidated affiliates	($1.7b)	($982.0m)	($1.1b)	($1.1b)	($2.4b)
Net increase in policy loans	—	($13.0m)	($19.0m)	($33.0m)	($43.0m)
Distributions from unconsolidated affiliates, return of investment	$150.0m	$313.0m	$340.0m	$478.0m	$694.0m
Net change in notes receivable	—	$0	$0	($13.0m)	($10.0m)
Borrowings	$400.0m	$550.0m	$845.0m	$1.1b	$375.0m
Payment of contingent consideration for acquisitions	—	—	$0	$0	($10.0m)
Net revolving credit facility (repayments) borrowings	$0	$0	($185.0m)	($365.0m)	$0
Purchases of treasury stock	$0	$0	($18.0m)	($12.0m)	($10.0m)
Issuance of preferred stock	—	$0	$0	$250.0m	$0
Contractholder account deposits	$8.2b	$8.5b	$7.8b	$10.1b	$11.6b
Contractholder account withdrawals	($2.9b)	($3.5b)	($4.6b)	($8.0b)	($8.8b)
Net cash provided by operating activities	$1.9b	$3.2b	$5.8b	$6.0b	$4.7b
Purchases of investment securities	($14.6b)	($12.4b)	($13.3b)	($16.9b)	($22.5b)
Net proceeds from sales, maturities and purchases of short-term investment securities	$71.0m	($1.7b)	($28.0m)	($1.1b)	$1.5b
Proceeds from sales, calls and maturities of investments	$9.3b	$5.4b	$5.3b	$11.3b	$14.3b
Net cash used in investing activities	($6.9b)	($9.4b)	($8.9b)	($8.0b)	($8.4b)
Debt issuance costs	$0	($4.0m)	($16.0m)	($20.0m)	($11.0m)
Repayments of outstanding debt	—	$0	$0	($250.0m)	($300.0m)
Issuance of common stock	—	—	$0	$0	$269.0m
Dividends paid	$0	$0	($101.0m)	($121.0m)	($137.0m)
Dividends and distributions paid to non-controlling interest shareholders	—	$0	$0	($14.0m)	($18.0m)
Net cash provided by (used in) financing activities	$5.6b	$5.6b	$3.7b	$2.7b	$3.0b
Net (decrease) increase in cash and cash equivalents	$644.0m	($573.0m)	$603.0m	$701.0m	($778.0m)
Cash and cash equivalents at beginning of period	$1.5b	$960.0m	$1.6b	$2.3b	$1.5b

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