← MANULIFE FINANCIAL CORP

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Net Income — — — — — — ($2.1b) $5.5b $5.6b $5.8b
Net Income From Continuing Operations — — — — — — ($2.0b) $5.6b $5.9b $6.1b
Net income (loss) $3.1b $2.3b $4.9b $5.5b $5.6b $6.9b $7.2b $5.6b $5.9b $6.1b
Amortization Cash Flow — — — — — — ($1.5b) ($1.4b) ($1.5b) ($1.8b)
Amortization Of Intangibles — — — — — — ($1.5b) ($1.4b) ($1.5b) ($1.8b)
Amortization Of Securities — — — — — — ($131.0m) ($141.0m) ($290.0m) ($344.0m)
Amortization of (premium) discount on invested assets $78.0m $230.0m $212.0m $117.0m $154.0m $181.0m ($32.0m) ($141.0m) ($290.0m) ($344.0m)
Contractual service margin (“CSM”) amortization — — — — — — ($2.0b) ($2.0b) ($2.4b) ($2.7b)
Depreciation And Amortization — — — — — — ($1.5b) ($1.4b) ($1.5b) ($1.8b)
Other amortization $693.0m $560.0m $747.0m $626.0m $656.0m $529.0m $538.0m $581.0m $869.0m $877.0m
Adjustments For Deferred Tax Of Prior Periods — — — — — — $226.0m ($19.0m) ($113.0m) $29.0m
Deferred Income Tax — — — — — — ($2.0b) $470.0m $311.0m ($6.0m)
Deferred Tax — — — — — — ($2.0b) $470.0m $311.0m ($6.0m)
Deferred income tax expenses (recoveries) ($235.0m) ($331.0m) $930.0m ($454.0m) $280.0m ($127.0m) $731.0m $470.0m $311.0m ($6.0m)
Adjustments For Share-Based Payments $19.0m $15.0m $10.0m $11.0m $14.0m $9.0m $5.0m $2.0m $0 —
Net realized and unrealized (gains) losses and impairment of assets — — — — — — — ($2.8b) ($860.0m) ($6.1b)
Changes in policy related and operating receivables and payables ($1.0b) ($222.0m) ($316.0m) $1.7b $1.1b ($690.0m) ($2.2b) $6.6b $13.6b $16.9b
Additional Financial Items
(Increase) decrease in reinsurance contract assets, excluding reinsurance transactions noted below (note 6) — — — — — — — $974.0m ($613.0m) ($1.2b)
Adjustments For Current Tax Of Prior Period ($228.0m) ($38.0m) $29.0m ($74.0m) ($83.0m) ($49.0m) ($263.0m) ($193.0m) $15.0m $45.0m
Adjustments For Gain Loss On Disposal Of Investments In Subsidiaries Joint Ventures And Associates — — — — — — $95.0m — — —
Balance, beginning of year $14.2b $15.1b $15.4b $19.5b $25.6b $21.9b $18.6b $19.9b $24.9b $25.8b
Beginning Cash Position — — — — — — $21.9b $18.6b $19.9b $24.9b
Cash Flow From Continuing Financing Activities — — — — — — ($2.1b) ($5.0b) ($4.2b) ($2.0b)
Cash Flow From Continuing Investing Activities — — — — — — ($18.4b) ($13.7b) ($18.5b) ($28.4b)
Cash provided by (used in) financing activities $3.3b $14.0m ($724.0m) ($2.1b) $663.0m ($2.0b) ($3.0b) ($5.0b) ($4.2b) ($2.0b)
Cash provided by (used in) investing activities ($22.7b) ($16.3b) ($19.0b) ($13.8b) ($14.1b) ($24.4b) ($18.6b) ($13.7b) ($18.5b) ($28.4b)
Change In Other Working Capital — — — — — — $5.0b $6.6b $13.6b $16.9b
Change In Working Capital — — — — — — $11.1b $18.7b $22.9b $34.4b
Changes In Cash — — — — — — ($3.9b) $1.7b $3.9b $1.7b
Changes in deposits from Bank clients, net ($157.0m) $261.0m $1.5b $1.8b ($579.0m) ($164.0m) $1.7b ($895.0m) $413.0m $2.7b
Changes in investment broker net receivables and payables ($186.0m) $227.0m ($128.0m) $1.2b ($1.0b) ($186.0m) ($67.0m) $21.0m $290.0m ($210.0m)
Changes in repurchase agreements ($23.0m) ($29.0m) ($189.0m) $266.0m $24.0m $186.0m ($551.0m) ($693.0m) $460.0m ($473.0m)
Common shares issued, net (note 11) $66.0m $124.0m $59.0m $104.0m $36.0m $51.0m $23.0m $94.0m $144.0m $73.0m
Common shares repurchased (note 11) — — ($478.0m) ($1.3b) ($253.0m) — ($1.9b) ($1.6b) ($3.3b) ($2.4b)
Contributions from (distributions to) non-controlling interests, net $10.0m ($6.0m) ($60.0m) ($22.0m) ($10.0m) ($13.0m) ($51.0m) ($14.0m) ($14.0m) ($24.0m)
Disposals and repayments $82.0b $70.7b $82.1b $65.3b $98.8b $96.7b $93.4b $70.3b $112.7b $108.6b
End Cash Position — — — — — — $18.6b $19.9b $24.9b $25.8b
Financing Cash Flow — — — — — — ($2.1b) ($5.0b) ($4.2b) ($2.0b)
Free Cash Flow — — — — — — $16.6b $20.4b $26.5b $32.1b
Gain Loss On Investment Securities — — — — — — $13.7b ($2.8b) ($860.0m) ($6.1b)
Gain Loss On Sale Of Business — — — — — $0 ($95.0m) $0 — —
Goodwill $5.9b $5.7b $5.9b $5.7b $5.7b $5.7b $6.0b $5.9b $6.3b $6.9b
Gross cash and short-term securities $15.2b $16.0b $16.2b $20.3b $26.2b $22.6b $19.2b $20.3b $25.8b $26.7b
Increase (decrease) during the year ($2.4b) $1.5b ($538.0m) $4.6b $6.6b ($3.3b) ($3.9b) $1.7b $3.9b $1.7b
Increase (decrease) in insurance contract net liabilities (note 6) — — — — — — — $10.7b $9.4b $18.1b
Increase (decrease) in investment contract liabilities $0 $173.0m $35.0m $170.0m $178.0m $44.0m $41.0m $435.0m $504.0m $551.0m
Interest received $10.6b $10.6b $11.0b $11.5b $11.7b $11.4b $12.1b $12.8b $13.5b $13.9b
Investing Cash Flow — — — — — — ($18.4b) ($13.7b) ($18.5b) ($28.4b)
Issuance Of Capital Stock — — — — — — $1.0b $94.0m $144.0m $73.0m
Issue of capital instruments, net (note 10) $479.0m $2.2b $597.0m $0 $2.0b — $0 $1.2b $2.6b $497.0m
Lease payments — — — ($117.0m) ($134.0m) ($124.0m) ($120.0m) ($98.0m) ($118.0m) ($108.0m)
Net Business Purchase And Sale — — — — — — ($182.0m) ($1.0m) ($297.0m) ($1.3b)
Net Preferred Stock Issuance — — — — — $2.6b $279.0m $0 — —
Net loss on reinsurance transactions (pre-tax) (note 6) — — — — — — — $0 $71.0m ($9.0m)
Net payments in transit, included in other liabilities ($913.0m) ($867.0m) ($833.0m) ($752.0m) ($584.0m) ($664.0m) ($518.0m) ($454.0m) ($847.0m) ($886.0m)
Operating Gains Losses — — — — — — $13.6b ($2.8b) ($860.0m) ($6.1b)
Other Non Cash Items — — — — — — ($2.4b) — $71.0m ($9.0m)
Payments Of Lease Liabilities Classified As Financing Activities — — — $117.0m $134.0m $124.0m $120.0m $98.0m $118.0m $108.0m
Payments To Acquire Or Redeem Entitys Shares — — $478.0m $1.3b $253.0m — $1.9b $1.6b $3.3b $2.4b
Preferred Stock Issuance — — — — — $3.2b $990.0m $0 — —
Preferred Stock Payments — — — — — ($612.0m) ($711.0m) $0 — —
Proceeds From Borrowings Classified As Financing Activities — — — — $2.5b — $946.0m — — $1.4b
Purchase Of Business — — — — — — ($182.0m) ($1.0m) ($297.0m) ($1.3b)
Purchases of invested assets and derivatives — — — — — — — — ($131.1b) ($135.5b)
Redemption of capital instruments (note 10) ($949.0m) ($899.0m) ($450.0m) ($1.5b) ($1.2b) ($818.0m) ($1.0b) ($600.0m) ($1.9b) ($1.0b)
Repurchase Of Capital Stock — — — — — — ($2.6b) ($1.6b) ($3.3b) ($2.4b)
Secured borrowing from securitization transactions $847.0m $741.0m $250.0m $107.0m $1.4b $26.0m $437.0m $537.0m $667.0m $676.0m
Stock Based Compensation — — — — — $9.0m $5.0m $2.0m $0 —
Profit or Loss $3.1b $2.3b $4.9b $5.5b $5.6b $6.9b $7.2b $5.6b $5.9b $6.1b
Net Other Investing Changes — — — — — — $93.3b $70.3b $113.0b $108.4b
Issuance Of Debt — — — — — — $1.4b $1.7b $3.3b $2.6b
Issue of long-term debt (note 9) — — — — $2.5b — $946.0m — $0 $1.4b
Long Term Debt Issuance — — — — — — $1.4b $1.7b $3.3b $2.6b
Net Issuance Payments Of Debt — — — — — — $263.0m $1.0b $1.3b $1.4b
Net Long Term Debt Issuance — — — — — — $263.0m $1.0b $1.3b $1.4b
Long Term Debt Payments — — — — — — ($1.1b) ($698.0m) ($2.0b) ($1.1b)
Repayment Of Debt — — — — — — ($1.1b) ($698.0m) ($2.0b) ($1.1b)
Common Stock Issuance — — — — — — $23.0m $94.0m $144.0m $73.0m
Net Common Stock Issuance — — — — — — ($1.9b) ($1.5b) ($3.1b) ($2.4b)
Common Stock Payments — — — — — — ($1.9b) ($1.6b) ($3.3b) ($2.4b)
Cash Dividends Paid — — — — — — ($2.8b) ($3.0b) ($3.2b) ($3.3b)
Common Stock Dividend Paid — — — — — — ($2.8b) ($3.0b) ($3.2b) ($3.3b)
Dividends Paid Classified As Financing Activities — — — — — — — $0 — —
Dividends Paid Ordinary Shares Per Share $0.74 $0.82 $0.91 $1.00 $1.12 $1.17 $1.32 $1.46 $1.60 $1.76
Shareholders’ dividends and other equity distributions ($2k) ($2k) ($2k) ($1k) ($2k) ($2k) ($3k) ($3k) ($3k) ($3k)
Net Other Financing Charges — — — — — — $1.7b ($909.0m) $399.0m $2.6b
Effect Of Exchange Rate Changes — — — — — — $585.0m ($412.0m) $1.2b ($816.0m)
Effect of foreign exchange rate changes on cash and short-term securities ($347.0m) ($658.0m) $822.0m ($466.0m) ($528.0m) ($319.0m) $585.0m ($412.0m) $1.2b ($816.0m)
Net cash increase (decrease) from sale (purchase) of subsidiaries ($495.0m) ($10.0m) $187.0m $288.0m $0 ($19.0m) ($182.0m) ($1.0m) ($297.0m) ($1.3b)
Change In Cash Supplemental As Reported — — — — — — ($3.9b) $1.7b $3.9b $1.7b
Income Tax Paid Supplemental Data — — — — — — $1.2b $436.0m $755.0m $756.0m
Interest Paid Supplemental Data — — — — — — $955.0m $1.5b $1.6b $1.5b
Interest paid $983.0m $1.1b $1.2b $1.3b $1.2b $981.0m $1.2b $1.5b $1.6b $1.5b
Income taxes paid $841.0m $1.4b $461.0m $104.0m $1.4b $571.0m $1.2b $436.0m $755.0m $756.0m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. 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.