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F&G Annuities & Life cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$982M in Q3 2026 · $4.4B over twelve months

Operating cash flow$982M
Free cash flow+$982M
Cash / net income1.3×

Analysis

In Q3 2026, F&G Annuities & Life generated $982M of operating cash flow. That is $45.0M more than in Q3 2025 ($937M).

Over the twelve months to Sep 30, 2026, operating cash flow was $4.4B; the largest uses were other investing ($4.5B), other financing ($264M), dividends ($151M); the cash balance fell by $629M.

Operating cash flow was $982M against net income of $741M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: income taxes payable +$223M, depreciation & amortization +$191M, gains on investments −$83.0M.

Free cash flow

F&G Annuities & Life: free cash flow by quarterF&G Annuities & Life: free cash flow by quarter$1.3BQ4 2024$956MQ1 2025$1.6BQ2 2025$937MQ3 2025$1.2BQ4 2025$743MQ1 2026$1.5BQ2 2026$982MQ3 2026
Operating cash flow less capital spending.
F&G Annuities & Life: operating cash flow against capital spendingF&G Annuities & Life: operating cash flow against capital spendingOperating cash flowCapital spending$1.3B$0Q4 2024$956M$0Q1 2025$1.6B$0Q2 2025$937M$0Q3 2025$1.2B$0Q4 2025$743M$0Q1 2026$1.5B$0Q2 2026$982M$0Q3 2026
Latest (Q3 2026): Operating cash flow $982M, Capital spending $0.

Capital allocation, year by year

F&G Annuities & Life: where the cash came from (up) and went (down), by fiscal yearF&G Annuities & Life: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedBuybacksDividendsFY2021: Operating cash flow $1.9BFY2021: Net borrowing $400M$2.3BFY2021FY2022: Operating cash flow $3.2BFY2022: Net borrowing $550M$3.7BFY2022FY2023: Operating cash flow $5.8BFY2023: Net borrowing $845MFY2023: Buybacks −$18.0MFY2023: Dividends −$101M$6.7BFY2023FY2024: Operating cash flow $6.0BFY2024: Net borrowing $800MFY2024: Shares issued $250MFY2024: Buybacks −$12.0MFY2024: Dividends −$121M$7.0BFY2024FY2025: Operating cash flow $4.7BFY2025: Net borrowing $75.0MFY2025: Shares issued $269MFY2025: Buybacks −$10.0MFY2025: Dividends −$137M$5.0BFY2025
Over these 5 years operating cash flow totalled $21.6B; the largest uses were dividends ($359M) and buybacks ($40.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.6B
Debt$2.2B
Net debt$680M

F&G Annuities & Life funds itself: free cash flow was $4.4B over the last twelve months, and $1.6B of cash and investments stands against $2.2B of debt.

F&G Annuities & Life: debt maturities by year (FY2025)F&G Annuities & Life: debt maturities by year (FY2025)$500MYear 3$550MYear 4$1.2BAfter year 5
Principal due in each year as disclosed in the annual report, against $1.6B of cash and investments now.

Where the cash came from and went

F&G Annuities & Life: sources (+) and uses (−) of cash, Q3 2026F&G Annuities & Life: sources (+) and uses (−) of cash, Q3 2026Other investing−$1.3BOperating cash flow$982MCash drawn (+) / kept (−)$543MOther financing−$142MDividends−$37.0M
F&G Annuities & Life: sources (+) and uses (−) of cash, TTM to Q3 2026F&G Annuities & Life: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$4.5BOperating cash flow$4.4BCash drawn (+) / kept (−)$629MOther financing−$264MDividends−$151MBuybacks−$130M

From profit to cash

F&G Annuities & Life: net income to operating cash flow, Q3 2026F&G Annuities & Life: net income to operating cash flow, Q3 2026Net income$741MDepreciation & amortization$191MStock-based pay$9.0MGains on investments−$83.0MIncome taxes payable$223MOther operating capital−$39.0MOperating cash flow$982M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$982M—−$37.0M——$543M$982M
Q2 2026$1.5B−$94.0M−$37.0M——−$779M$1.5B
Q1 2026$743M−$29.0M−$38.0M——$162M$743M
Q4 2025$1.2B−$7.0M−$39.0M——$703M$1.2B
Q3 2025$937M—−$33.0M——−$305M$937M
Q2 2025$1.6B—−$35.0M——$1.4B$1.6B
Q1 2025$956M−$3.0M−$30.0M$75.0M$269M−$1.0B$956M
Q4 2024$1.3B−$6.0M−$33.0M$500M—$1.3B$1.3B

F&G Annuities & Life: income statement and cash flow

F&G Annuities & Life, Q3 2026: revenue $1.1B (-33% year over year), operating margin 82.8%. The chart follows the revenue to costs, profit and cash.

F&G Annuities & Life: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.