Operating

Arch Capital Group·Cash Flow Statement·15 metrics

Breakdown

Metric	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Net cash from operating activities	$1.5B	$2B	$1.6B	$1.5B	$1.1B	$2.2B	$1.4B	$1.2B
Net income	$1.3B	$988M	$935M	$574M	$1.2B	$1.4B	$1.2B	$1B
Increase (Decrease) in Premiums Receivable	$523M	—	—	$942M	$352M	-$601M	-$731M	$820M
Reserve for losses and loss adjustment expenses, net of unpaid losses and loss adjustment expenses recoverable	$709M	$1.1B	$832M	$826M	$560M	$634M	$330M	$540M
Insurance and reinsurance balances payable	$95M	—	—	$504M	$159M	—	—	$419M
Other working capital changes	$108M	$0	$160M	-$49M	$357M	-$355M	-$88M	$398M
Unearned premiums, net of ceded unearned premiums	$216M	$77M	—	$327M	$11M	-$321M	-$606M	$362M
Equity Pick Up, Investment Funds Accounted For Using Equity Method And Other Income Loss	$62M	$162M	$152M	$12M	$95M	$158M	$194M	$137M
Net Realized (Gains) Losses Cash Flow Statement	$144M	$165M	—	$6M	$225M	$202M	$7M	-$91M
Stock-based compensation	$16M	$16M	$33M	$74M	$25M	$25M	$24M	$82M
Change in deferred policy acquisition costs	$0	$86M	$46M	$14M	-$33M	-$14M	-$53M	$48M
Increase (Decrease) in Deferred Policy Acquisition Costs	$0	$86M	$46M	$14M	-$33M	-$14M	-$53M	$48M
Amortization of intangible assets	$27M	$88M	$99M	$49M	$48M	$49M	$47M	$30M
Amortization of capitalized software and acquired intangible assets	$27M	$88M	$99M	$49M	$48M	$49M	$47M	$30M
Increase (Decrease) in Deferred Income Taxes	-$21M	-$16M	$96M	-$29M	-$80M	-$46M	-$19M	-$20M