FORTITUDE LIFE INSURANCE & ANNUITY CO Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2025 12 months to Dec 31, 2025	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 9 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)
Adjustments to reconcile net income (loss) to net cash from (used in) operating activities:
Policy charges and fee income
Investment losses, net
Depreciation and amortization
Goodwill impairment
Interest credited to policyholders’ account balances
Other, net
Change in:
Insurance liabilities, at fair value
Deposit asset, at fair value
Net modified coinsurance payable
Future policy benefits
Accrued investment income
Net receivables from/payables to parent and affiliates
Deferred sales inducements
Deferred policy acquisition costs
Income taxes
Policyholder contract deposits
Reinsurance recoverables, net
Funds withheld payable to affiliates
Derivatives, net
Other, net

Cash flows from (used in) operating activities
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale/maturity/prepayment of:
Fixed maturity securities, fair value option
Fixed maturity securities, available-for-sale
Fixed maturities, trading
Equity securities
Secured receivable
Mortgage loans
Policy loans
Other invested assets
Short-term investments
Short-term loan to parent with maturities greater than three months

Payments for the purchase/origination of:
Fixed maturity securities, fair value option
Fixed maturity securities, available-for-sale
Fixed maturities, trading
Equity securities
Secured receivable
Mortgage loans
Policy loans
Other invested assets
Short-term investments

Notes receivable from parent and affiliates, net
Notes receivable from parent and affiliates, net
Derivatives, net
Other, net
Short-term loan to parent with maturities greater than three months
Cash flows from (used in) investing activities

CASH FLOWS FROM FINANCING ACTIVITIES:
Policyholders’ account deposits
Ceded policyholders’ account deposits
Policyholders’ account withdrawals
Ceded policyholders' account withdrawals
Cash collateral for loaned securities
Deposits received on investment-type policyholder contracts
Withdrawals on investment-type policyholder contracts
Drafts outstanding
Net proceeds related to repurchase agreements with maturities three months or less
Other, net
Gross proceeds related to repurchase agreements with maturities greater than three months
Gross repayments related to repurchase agreements with maturities greater than three months
Net proceeds related to securities lending with maturities three months or less
Distribution to parent
Repayments of debt (maturities longer than 90 days)
Net decrease in short-term borrowing
Cash flows from (used in) financing activities

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS, END OF YEAR
SUPPLEMENTAL CASH FLOW INFORMATION
Income taxes paid (refunded), net
Interest
Non-cash transactions
Deposits on investment-type policyholder contracts ceded through funds withheld arrangements
Novation activity on certain ceded investments

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