CINCINNATI FINANCIAL CORP
For the period ended Sep 30, 2025. Filed Oct 27, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 27, 2025
CINF$189.89+2.0%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| (Dollars in millions) | Nine months ended September 30, | |
|---|---|---|
| 2025 | 2024 | |
| Cash Flows From Operating Activities | ||
| Net income | $1,717 | $1,887 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, amortization and other | 126 | 115 |
| Investment gains and losses, net | (1,235) | (1,499) |
| Interest credited to contract holders | 33 | 34 |
| Deferred income tax expense | 256 | 199 |
| Changes in: | ||
| Premiums and reinsurance receivable | (524) | (356) |
| Deferred policy acquisition costs | (118) | (148) |
| Other assets | (57) | (8) |
| Loss and loss expense reserves | 1,257 | 878 |
| Life policy and investment contract reserves | 34 | 54 |
| Unearned premiums | 610 | 755 |
| Other liabilities | 43 | 55 |
| Current income tax receivable/payable | 23 | 41 |
| Net cash provided by operating activities | 2,165 | 2,007 |
| Cash Flows From Investing Activities | ||
| Sale, call or maturity of fixed maturities | 2,602 | 2,354 |
| Sale of equity securities | 201 | 1,332 |
| Purchase of fixed maturities | (3,546) | (3,797) |
| Purchase of equity securities | (319) | (282) |
| Change in short-term investments, net | 154 | — |
| Changes in finance receivables | (30) | (10) |
| Investment in building and equipment | (12) | (18) |
| Change in other invested assets, net | (67) | (68) |
| Net cash used in investing activities | (1,017) | (489) |
| Cash Flows From Financing Activities | ||
| Payment of cash dividends to shareholders | (392) | (365) |
| Shares acquired - share repurchase authorization | (102) | (121) |
| Proceeds from stock options exercised | 8 | 7 |
| Contract holders' funds deposited | 47 | 58 |
| Contract holders' funds withdrawn | (121) | (152) |
| Other | (111) | (100) |
| Net cash used in financing activities | (671) | (673) |
| Net change in cash and cash equivalents | 477 | 845 |
| Cash and cash equivalents at beginning of year | 983 | 907 |
| Cash and cash equivalents at end of period | $1,460 | $1,752 |
| Supplemental Disclosures of Cash Flow Information: | ||
| Interest paid | $27 | $27 |
| Income taxes paid | 99 | 221 |
| Noncash Activities | ||
| Equipment acquired under finance lease obligations | $16 | $13 |
| Share-based compensation | 29 | 41 |
| Other assets and other liabilities | 344 | 562 |
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