HANOVER INSURANCE GROUP, INC.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $662.5M | $426.0M | $35.3M | $116.0M | $422.8M | $358.7M | $425.1M | $391.0M |
| Depreciation & Amortization | $-4.6M | $1.5M | $6.3M | $12.9M | $16.9M | $18.2M | $21.6M | $24.6M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $35.6M | $31.0M | $31.1M | $29.0M | $22.9M | $20.1M | $17.4M | $13.4M |
| Net Cash from Operating Activities | $1.18B | $806.4M | $361.7M | $722.3M | $823.7M | $707.6M | $602.9M | $551.3M |
| Investing Activities | ||||||||
| Capital Expenditures | $7.7M | $10.2M | $11.9M | $17.8M | $8.0M | $14.9M | $13.3M | $13.1M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-666.2M | $-540.9M | $-228.5M | $-507.6M | $-460.2M | $-608.8M | $-311.9M | $271.3M |
| Financing Activities | ||||||||
| Dividends Paid | $130.6M | $124.1M | $117.2M | $108.9M | $102.2M | $99.5M | $386.2M | $94.3M |
| Stock Repurchases | $129.2M | $26.7M | $0 | $30.8M | $162.6M | $212.8M | $563.6M | $57.7M |
| Net Cash from Financing Activities | $175.2M | $-145.5M | $-122.1M | $-140.6M | $-253.2M | $-193.9M | $-1.10B | $-171.0M |
| Net Change in Cash | — | — | $11.1M | $74.1M | $110.3M | $-95.1M | $-808.3M | $647.6M |
| Free Cash Flow | $1.17B | $796.2M | $349.8M | $704.5M | $815.7M | $692.7M | $589.6M | $538.2M |