Verisk Analytics, Inc.
For the period ended Sep 30, 2025. Filed Oct 29, 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 29, 2025
VRSK$204.02+1.7%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| (in millions) | ||||
| Cash flows from operating activities: | ||||
| Net income | $225.5 | $220.0 | $711.1 | $747.2 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation and amortization of fixed assets | 64.0 | 58.1 | 197.4 | 174.5 |
| Amortization of intangible assets | 18.3 | 18.3 | 50.4 | 55.0 |
| Amortization of debt issuance costs and original issue discount, net of original issue premium | 0.9 | 0.9 | 2.3 | 2.2 |
| Provision for doubtful accounts | 2.5 | 4.3 | 13.9 | 11.2 |
| Net gain on early extinguishment of debt | — | — | — | (3.6) |
| Impairment of cost-based investments | — | — | — | 1.0 |
| Stock-based compensation expense | 12.1 | 11.6 | 41.8 | 37.2 |
| Net gain upon settlement of investment in non-public companies | — | — | — | (98.3) |
| Deferred income taxes | 29.9 | (8.2) | 10.6 | (26.0) |
| Loss on disposal of fixed assets | — | 7.5 | — | 7.7 |
| Gain on lease modification | — | (1.9) | — | (1.9) |
| Acquisition related liability adjustment | — | — | (1.6) | — |
| Other operating | 2.9 | — | (8.3) | — |
| Changes in assets and liabilities, net of effects from acquisitions: | ||||
| Accounts receivable | 173.1 | 31.6 | (6.6) | (120.2) |
| Prepaid expenses and other assets | (8.4) | 7.9 | (5.3) | 33.1 |
| Operating lease right-of-use assets, net | 6.6 | 9.5 | 18.0 | 23.2 |
| Income taxes | (5.0) | (3.5) | 55.5 | 13.8 |
| Accounts payable and accrued liabilities | 54.5 | 32.9 | (14.6) | (66.1) |
| Deferred revenues | (165.3) | (75.7) | 52.8 | 122.2 |
| Operating lease liabilities | (8.3) | (14.9) | (20.4) | (26.7) |
| Other liabilities | 0.2 | (2.2) | (4.3) | 3.1 |
| Net cash provided by operating activities | 403.5 | 296.2 | 1,092.7 | 888.6 |
| Cash flows from investing activities: | ||||
| Acquisitions and purchase of additional controlling interest, net of cash acquired of $4.6, $0.0, $4.9, and $1.8, respectively | (160.4) | — | (184.8) | (23.4) |
| Investments in non-public companies | (4.0) | (0.9) | (8.5) | (0.4) |
| Proceeds received upon settlement of investment in non-public companies | — | — | — | 112.1 |
| Capital expenditures | (67.4) | (55.5) | (176.9) | (168.5) |
| Escrow (funding) release associated with acquisitions | (2.7) | 3.8 | (2.7) | 3.8 |
| Net cash used in investing activities | (234.5) | (52.6) | (372.9) | (76.4) |
| Cash flows from financing activities: | ||||
| Proceeds from issuance of long-term debt, net of original discount | — | — | 698.3 | 590.2 |
| Proceeds from the issuance of short-term debt | 1,497.9 | — | 1,497.9 | — |
| Payment of debt issuance costs | (19.2) | — | (25.4) | (5.6) |
| Repayment of current portion of long-term debt | — | — | (500.0) | — |
| Payment on early extinguishment of debt | — | — | — | (396.4) |
| Repurchases of common stock | (100.1) | (340.0) | (400.2) | (690.0) |
| Share repurchases not yet settled | — | (60.0) | — | (60.0) |
| Payment of contingent liability related to acquisition | — | — | — | (8.5) |
| Payment of excise tax | — | — | (7.6) | — |
| Proceeds from stock options exercised | 3.7 | 47.4 | 51.3 | 110.6 |
| Net share settlement of taxes from restricted stock and performance share awards | (0.5) | (0.4) | (26.0) | (13.0) |
| Dividends paid | (62.6) | (55.3) | (188.6) | (166.6) |
| Other financing activities, net | (13.9) | (13.0) | (20.1) | (18.9) |
| Net cash provided by (used in) financing activities | 1,305.3 | (421.3) | 1,079.6 | (658.2) |
| Effect of exchange rate changes | 4.9 | 3.6 | 17.3 | 1.3 |
| Net increase (decrease) in cash and cash equivalents | 1,479.2 | (174.1) | 1,816.7 | 155.3 |
| Cash and cash equivalents, beginning of period | 628.7 | 632.1 | 291.2 | 302.7 |
| Cash and cash equivalents, end of period | $2,107.9 | $458.0 | $2,107.9 | $458.0 |
| Supplemental disclosures: | ||||
| Income taxes paid | $51.7 | $77.0 | $149.0 | $218.4 |
| Interest paid | $24.9 | $7.9 | $84.8 | $63.0 |
| Noncash investing and financing activities: | ||||
| Deferred tax liability established on date of acquisition | $— | $— | $2.5 | $1.4 |
| Finance lease additions | $2.2 | $5.9 | $4.0 | $28.4 |
| Operating lease additions (terminations), net | $2.2 | $(9.5) | $3.8 | $(5.7) |
| Fixed assets included in accounts payable and accrued liabilities | $0.1 | $— | $0.2 | $— |
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