Definity Financial Corporation
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Total Revenue | 4.9B | 4.5B | 4.0B | 3.0B | -- |
| Operating Revenue | 4.9B | 4.5B | 4.0B | 3.0B | -- |
| Selling General And Administration | 167.4M | 131.6M | 88.1M | 15.1M | -- |
| Depreciation And Amortization In Income Statement | 37.2M | 31.4M | 20.4M | 4.9M | -- |
| Other Operating Expenses | 84.0M | 115.8M | 108.2M | 115.6M | -- |
| EBIT | 600.7M | 588.3M | 472.5M | 114.4M | -- |
| Interest Expense | 22.9M | 9.6M | 5.3M | 600,000 | -- |
| Interest Expense Non Operating | 22.9M | 9.6M | 5.3M | 600,000 | -- |
| Interest Income | 222.2M | 204.5M | 185.4M | 138.7M | -- |
| Interest Income Non Operating | -- | 2.4M | 11.0M | 700,000 | -- |
| Net Interest Income | -22.9M | -7.2M | 5.7M | 100,000 | -- |
| Other Income Expense | 229.4M | 186.0M | 127.4M | 19.9M | -- |
| Special Income Charges | -48.0M | -1.5M | -11.1M | 67.0M | -- |
| Restructuring And Mergern Acquisition | 53.9M | 1.5M | 11.1M | -67.0M | -- |
| Pretax Income | 577.8M | 578.7M | 467.2M | 113.8M | -- |
| Tax Provision | 151.8M | 143.8M | 112.7M | 2.3M | -- |
| Tax Effect Of Unusual Items | -12.6M | -372,000 | -2.7M | 1.3M | -- |
| Net Income From Continuing And Discontinued Operation | 418.2M | 430.4M | 350.1M | 110.9M | -- |
| Net Income From Continuing Operation Net Minority Interest | 418.2M | 430.4M | 350.1M | 110.9M | -- |
| Net Income Including Noncontrolling Interests | 426.0M | 434.9M | 354.5M | 111.5M | -- |
| Minority Interests | -7.8M | -4.5M | -4.4M | -600,000 | -- |
| Net Income Common Stockholders | 418.2M | 430.4M | 350.1M | 110.9M | -- |
| Net Income | 418.2M | 430.4M | 350.1M | 110.9M | -- |
| Reconciled Depreciation | 136.5M | 125.3M | 105.8M | 73.0M | -- |
| Basic EPS | 3.57 | 3.75 | 3.04 | 0.96 | -- |
| Diluted EPS | 3.51 | 3.69 | 3.00 | 0.95 | -- |
| Basic Average Shares | 117.3M | 114.8M | 115.0M | 115.1M | -- |
| Diluted Average Shares | 119.1M | 116.5M | 116.6M | 116.9M | -- |
| Total Unusual Items | -48.0M | -1.5M | -11.1M | 67.0M | -- |
| Total Unusual Items Excluding Goodwill | -48.0M | -1.5M | -11.1M | 67.0M | -- |
| Tax Rate For Calcs | 0.26 | 0.25 | 0.24 | 0.02 | -- |
| Normalized Income | 453.6M | 431.5M | 358.5M | 45.2M | -- |
| Amortization | 37.2M | 31.4M | 20.4M | 4.9M | -- |
| Diluted NI Availto Com Stockholders | 418.2M | 430.4M | 350.1M | 110.9M | -- |
| Loss Adjustment Expense | 3.0B | 2.8B | 2.5B | 2.1B | -- |
| Net Income Continuous Operations | 426.0M | 434.9M | 354.5M | 111.5M | -- |
| Net Non Operating Interest Income Expense | -22.9M | -7.2M | 5.7M | 100,000 | -- |
| Net Policyholder Benefits And Claims | 3.0B | 2.8B | 2.5B | 2.1B | -- |
| Other Special Charges | -5.9M | -- | -- | -- | -- |
| Policyholder Benefits Ceded | 232.8M | 259.3M | 239.4M | 178.3M | -- |
| Policyholder Benefits Gross | 3.2B | 3.0B | 2.8B | 2.2B | -- |
| Selling And Marketing Expense | 167.4M | 131.6M | 88.1M | 15.1M | -- |
| Total Expenses | 4.3B | 3.9B | 3.6B | 2.9B | -- |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Cash And Cash Equivalents | 355.9M | 322.1M | 197.5M | 200.5M | -- |
| Cash Cash Equivalents And Short Term Investments | 608.0M | 504.9M | 381.2M | 378.7M | -- |
| Other Short Term Investments | 252.1M | 182.8M | 183.7M | 178.2M | -- |
| Accounts Receivable | 324.5M | 322.7M | 284.7M | 282.8M | -- |
| Receivables | 404.1M | 380.2M | 328.6M | 383.7M | -- |
| Prepaid Assets | 42.2M | 23.5M | 45.7M | 22.3M | -- |
| Net PPE | 98.6M | 104.8M | 103.1M | 83.8M | -- |
| Goodwill | 785.5M | 686.3M | 572.4M | 338.0M | -- |
| Goodwill And Other Intangible Assets | 1.6B | 1.4B | 1.2B | 771.6M | -- |
| Other Intangible Assets | 776.8M | 711.2M | 657.5M | 433.6M | -- |
| Investments And Advances | 7.0B | 5.3B | 5.0B | 4.9B | -- |
| Long Term Equity Investment | 57.4M | 47.5M | 52.3M | 36.7M | -- |
| Total Assets | 9.6B | 7.7B | 7.3B | 6.8B | -- |
| Current Debt | -- | 0.00 | 0.00 | 3.4M | 0.00 |
| Current Debt And Capital Lease Obligation | -- | 0.00 | 0.00 | 3.4M | 0.00 |
| Accounts Payable | -- | -- | 54.9M | 77.9M | 231.6M |
| Payables | 21.2M | 42.3M | 117.9M | 77.9M | -- |
| Payables And Accrued Expenses | 21.2M | 42.3M | 117.9M | 0.00 | -- |
| Current Accrued Expenses | -- | -- | -- | 302.1M | 110.8M |
| Long Term Debt | 1.1B | 114.3M | 114.3M | 35.7M | -- |
| Long Term Debt And Capital Lease Obligation | 1.2B | 149.5M | 149.9M | 67.4M | -- |
| Long Term Capital Lease Obligation | 41.9M | 35.2M | 35.6M | 31.7M | -- |
| Total Liabilities Net Minority Interest | 5.3B | 4.2B | 4.3B | 4.2B | -- |
| Common Stock | 2.6B | 2.2B | 2.3B | 2.3B | -- |
| Capital Stock | 2.6B | 2.2B | 2.3B | 2.3B | -- |
| Additional Paid In Capital | 53.0M | 42.4M | 40.4M | 40.2M | -- |
| Retained Earnings | 1.4B | 1.1B | 561.3M | 287.8M | -- |
| Gains Losses Not Affecting Retained Earnings | 21.2M | -1.1M | -27.0M | -32.4M | -- |
| Other Equity Adjustments | 21.2M | -1.1M | -27.0M | -32.4M | -- |
| Common Stock Equity | 4.0B | 3.3B | 2.8B | 2.5B | -- |
| Stockholders Equity | 4.0B | 3.3B | 2.8B | 2.5B | -- |
| Total Equity Gross Minority Interest | 4.3B | 3.5B | 3.0B | 2.7B | -- |
| Minority Interest | 242.4M | 186.3M | 159.2M | 108.5M | -- |
| Total Capitalization | 5.2B | 3.4B | 3.0B | 2.6B | -- |
| Net Tangible Assets | 2.5B | 1.9B | 1.6B | 1.8B | -- |
| Tangible Book Value | 2.5B | 1.9B | 1.6B | 1.8B | -- |
| Invested Capital | 5.2B | 3.4B | 3.0B | 2.6B | -- |
| Total Debt | 1.2B | 149.5M | 149.9M | 70.8M | -- |
| Net Debt | 766.8M | -- | -- | -- | -- |
| Share Issued | 121.6M | 115.8M | 115.9M | 115.9M | -- |
| Ordinary Shares Number | 119.9M | 114.0M | 114.9M | 114.4M | -- |
| Capital Lease Obligations | 41.9M | 35.2M | 35.6M | 31.7M | -- |
| Defined Pension Benefit | 40.3M | 48.1M | 41.9M | 40.3M | -- |
| Derivative Product Liabilities | 20.7M | 0.00 | -- | -- | -- |
| Employee Benefits | 43.8M | 35.9M | 32.9M | 29.4M | -- |
| Income Tax Payable | 21.2M | 42.3M | 117.9M | 0.00 | -- |
| Investments In Other Ventures Under Equity Method | 57.4M | 47.5M | 52.3M | 36.7M | -- |
| Line Of Credit | -- | -- | 114.3M | 39.1M | 0.00 |
| Loans Receivable | -- | -- | -- | 12.0M | 24.3M |
| Long Term Provisions | -- | 4.0M | 8.5M | -- | -- |
| Non Current Deferred Liabilities | 153.3M | 154.3M | 150.7M | 103.5M | -- |
| Non Current Deferred Taxes Liabilities | 153.3M | 154.3M | 150.7M | 103.5M | -- |
| Non Current Pension And Other Postretirement Benefit Plans | 26.7M | 26.5M | 28.2M | 26.3M | -- |
| Other Current Borrowings | -- | 0.00 | 0.00 | 3.4M | 0.00 |
| Other Payable | -- | -- | -- | 103.5M | 86.5M |
| Other Receivables | 78.7M | 50.8M | 43.9M | 19.2M | -- |
| Taxes Receivable | 900,000 | 6.7M | 0.00 | 81.7M | -- |
| Total Tax Payable | 21.2M | 42.3M | 117.9M | 0.00 | -- |
| Treasury Shares Number | 1.7M | 1.8M | 1.0M | 1.5M | -- |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Operating Cash Flow | 512.6M | 307.2M | 351.8M | 305.8M | -- |
| Cash Flow From Continuing Operating Activities | 512.6M | 307.2M | 351.8M | 305.8M | -- |
| Depreciation And Amortization | 136.5M | 125.3M | 105.8M | 73.0M | -- |
| Stock Based Compensation | 30.8M | 23.1M | 20.5M | 20.9M | -- |
| Change In Working Capital | 137.8M | 65.5M | -138.9M | -167.0M | -- |
| Change In Payables And Accrued Expense | -5.6M | -25.6M | -15.0M | 300,000 | -- |
| Change In Payable | -5.6M | -25.6M | -15.0M | 300,000 | -- |
| Change In Other Current Assets | -34.5M | -2.6M | -14.7M | -9.4M | -- |
| Other Non Cash Items | -- | -- | 1.9M | -66.2M | -- |
| Capital Expenditure | -99.6M | -75.6M | -87.5M | -90.8M | -- |
| Purchase Of Business | -150.8M | -158.7M | -409.3M | -242.0M | -- |
| Purchase Of Investment | -4.6B | -6.0B | -7.0B | -5.4B | -- |
| Sale Of Investment | 3.1B | 5.9B | 7.2B | 5.4B | -- |
| Net Investment Purchase And Sale | -1.4B | -65.7M | 151.5M | -54.2M | -- |
| Investing Cash Flow | -1.7B | -298.0M | -351.9M | -374.7M | -- |
| Cash Flow From Continuing Investing Activities | -1.7B | -298.0M | -351.9M | -374.7M | -- |
| Issuance Of Debt | 996.3M | 0.00 | 114.3M | 0.00 | -- |
| Repayment Of Debt | -- | 0.00 | -39.1M | -1.0M | 0.00 |
| Net Issuance Payments Of Debt | 996.3M | 0.00 | 75.2M | -1.0M | -- |
| Issuance Of Capital Stock | 371.5M | 0.00 | -- | 0.00 | 2.3B |
| Repurchase Of Capital Stock | -12.2M | -68.3M | -13.9M | -53.6M | -- |
| Net Common Stock Issuance | 359.3M | -68.3M | -13.9M | -53.6M | -- |
| Common Stock Dividend Paid | -88.5M | -73.7M | -63.2M | -63.3M | -- |
| Common Stock Payments | -12.2M | -68.3M | -13.9M | -53.6M | -- |
| Financing Cash Flow | 1.2B | -113.8M | -61.0M | 73.4M | -- |
| Cash Flow From Continuing Financing Activities | 1.2B | -113.8M | -61.0M | 73.4M | -- |
| Changes In Cash | 19.0M | -104.6M | -61.1M | 4.5M | -- |
| Beginning Cash Position | 336.9M | 441.5M | 502.6M | 498.1M | -- |
| End Cash Position | 355.9M | 336.9M | 441.5M | 502.6M | -- |
| Free Cash Flow | 413.0M | 231.6M | 264.3M | 215.0M | -- |
| Interest Paid Supplemental Data | 10.6M | 9.5M | 5.3M | 600,000 | -- |
| Amortization Cash Flow | 120.4M | 109.2M | 92.4M | 63.3M | -- |
| Amortization Of Intangibles | 120.4M | 109.2M | 92.4M | 63.3M | -- |
| Amortization Of Securities | -29.4M | -29.0M | -18.4M | 8.4M | -- |
| Cash Dividends Paid | -88.5M | -73.7M | -63.2M | -63.3M | -- |
| Cash Flowsfromusedin Operating Activities Direct | -- | -- | -- | 305.8M | 655.2M |
| Change In Account Payable | -5.6M | -25.6M | -15.0M | 300,000 | -- |
| Classesof Cash Payments | -- | -- | -- | -3.2B | -2.4B |
| Classesof Cash Receiptsfrom Operating Activities | -- | -- | -- | 3.5B | 3.0B |
| Common Stock Issuance | 371.5M | 0.00 | -- | 0.00 | 2.3B |
| Depreciation | 16.1M | 16.1M | 13.4M | 9.7M | -- |
| Earnings Losses From Equity Investments | -3.6M | 1.7M | 100,000 | -6.4M | -- |
| Gain Loss On Investment Securities | -160.3M | -214.4M | -151.8M | 446.1M | -- |
| Long Term Debt Issuance | 996.3M | 0.00 | 114.3M | 0.00 | -- |
| Long Term Debt Payments | -- | 0.00 | -39.1M | -1.0M | 0.00 |
| Net Business Purchase And Sale | -150.8M | -158.7M | -409.3M | -242.0M | -- |
| Net Foreign Currency Exchange Gain Loss | 27.8M | 0.00 | -- | -- | -- |
| Net Income From Continuing Operations | 577.8M | 578.7M | 467.2M | 113.8M | -- |
| Net Intangibles Purchase And Sale | -99.6M | -75.6M | -87.5M | -90.8M | -- |
| Net Investment Properties Purchase And Sale | 22.1M | 0.00 | -- | -- | -- |
| Net Long Term Debt Issuance | 996.3M | -- | 75.2M | -1.0M | -- |
| Net Other Financing Charges | 7.7M | -81.9M | -59.1M | 191.3M | -- |
| Net Other Investing Changes | -- | -- | -- | -90.8M | -49.4M |
| Net Short Term Debt Issuance | -- | -- | 114.3M | 0.00 | -- |
| Operating Gains Losses | -136.1M | -212.7M | -151.7M | 439.7M | -- |
| Other Cash Receiptsfrom Operating Activities | -- | -- | -- | 147.5M | 127.7M |
| Purchase Of Intangibles | -99.6M | -75.6M | -87.5M | -90.8M | -- |
| Sale Of Investment Properties | 22.1M | 0.00 | -- | -- | -- |
| Taxes Refund Paid | -204.8M | -243.7M | 65.4M | -116.8M | -- |