Definity Financial Corporation
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 |
|---|---|---|---|---|---|
| Total Revenue | 1.2B | 1.3B | 1.2B | 1.2B | 1.1B |
| Operating Revenue | 1.2B | 1.3B | 1.2B | 1.2B | 1.1B |
| Selling General And Administration | 45.7M | 42.7M | 41.0M | 38.0M | -- |
| Depreciation And Amortization In Income Statement | 9.9M | 9.8M | 8.9M | 8.6M | -- |
| Other Operating Expenses | -4.3M | 24.5M | 34.6M | 31.0M | -129.1M |
| EBIT | 98.7M | 257.5M | 118.6M | 127.7M | 158.6M |
| Interest Expense | 12.8M | 5.0M | 2.5M | 4.4M | 2.0M |
| Interest Expense Non Operating | 12.8M | 5.0M | 2.5M | 4.4M | 2.0M |
| Interest Income | 62.9M | 55.9M | 52.0M | 51.4M | 52.6M |
| Interest Income Non Operating | -- | -- | -- | -- | -- |
| Net Interest Income | -12.8M | -5.0M | -2.5M | -4.4M | 400,000 |
| Other Income Expense | 56.6M | 60.9M | 62.9M | 49.0M | 46.6M |
| Special Income Charges | -22.9M | -10.3M | -39.0M | -- | -- |
| Restructuring And Mergern Acquisition | 22.9M | 10.3M | 44.9M | -- | -- |
| Pretax Income | 85.9M | 252.5M | 116.1M | 123.3M | 156.6M |
| Tax Provision | 26.6M | 56.9M | 37.8M | 30.5M | 39.1M |
| Tax Effect Of Unusual Items | -7.1M | -2.3M | -12.7M | 0.00 | 0.00 |
| Net Income From Continuing And Discontinued Operation | 58.0M | 193.1M | 75.1M | 92.0M | 116.6M |
| Net Income From Continuing Operation Net Minority Interest | 58.0M | 193.1M | 75.1M | 92.0M | 116.6M |
| Net Income Including Noncontrolling Interests | 59.3M | 195.6M | 78.3M | 92.8M | 117.5M |
| Minority Interests | -1.3M | -2.5M | -3.2M | -800,000 | -900,000 |
| Net Income Common Stockholders | 58.0M | 193.1M | 75.1M | 92.0M | 116.6M |
| Net Income | 58.0M | 193.1M | 75.1M | 92.0M | 116.6M |
| Reconciled Depreciation | 35.9M | 34.5M | 34.0M | 32.1M | 31.4M |
| Basic EPS | -- | 1.61 | 0.65 | 0.81 | -- |
| Diluted EPS | -- | 1.59 | 0.64 | 0.79 | -- |
| Basic Average Shares | -- | 119.9M | 115.4M | 114.1M | -- |
| Diluted Average Shares | -- | 121.7M | 117.2M | 116.5M | -- |
| Total Unusual Items | -22.9M | -10.3M | -39.0M | -- | -- |
| Total Unusual Items Excluding Goodwill | -22.9M | -10.3M | -39.0M | -- | -- |
| Tax Rate For Calcs | 0.31 | 0.23 | 0.33 | 0.25 | 0.25 |
| Normalized Income | 73.8M | 201.1M | 101.4M | 92.0M | 116.6M |
| Amortization | 9.9M | 9.8M | 8.9M | 8.6M | -- |
| Diluted NI Availto Com Stockholders | 58.0M | 193.1M | 75.1M | 92.0M | 116.6M |
| Loss Adjustment Expense | 777.0M | 750.5M | 725.8M | 740.8M | 691.8M |
| Net Income Continuous Operations | 59.3M | 195.6M | 78.3M | 92.8M | 117.5M |
| Net Non Operating Interest Income Expense | -12.8M | -5.0M | -2.5M | -4.4M | 400,000 |
| Net Policyholder Benefits And Claims | 777.0M | 750.5M | 725.8M | 740.8M | 691.8M |
| Other Special Charges | 0.00 | -- | -5.9M | -- | -- |
| Policyholder Benefits Ceded | 63.2M | 58.5M | 50.5M | 63.1M | 74.2M |
| Policyholder Benefits Gross | 840.2M | 809.0M | 776.3M | 803.9M | 766.0M |
| Selling And Marketing Expense | 45.7M | 42.7M | 41.0M | 38.0M | -- |
| Total Expenses | 1.1B | 1.1B | 1.1B | 1.1B | 963.4M |
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 |
|---|---|---|---|---|---|
| Cash And Cash Equivalents | 355.9M | 343.0M | 457.0M | 151.0M | 322.1M |
| Cash Cash Equivalents And Short Term Investments | 608.0M | 561.8M | 659.7M | 335.7M | 504.9M |
| Other Short Term Investments | 252.1M | 218.8M | 202.7M | 184.7M | 182.8M |
| Accounts Receivable | 324.5M | 334.1M | 323.3M | 331.2M | 322.7M |
| Receivables | 404.1M | 405.6M | 401.0M | 401.6M | 380.2M |
| Prepaid Assets | 42.2M | 44.2M | 28.4M | 39.9M | 23.5M |
| Net PPE | 98.6M | 97.1M | 88.6M | 102.9M | 104.8M |
| Goodwill | 785.5M | -- | -- | -- | 686.3M |
| Goodwill And Other Intangible Assets | 1.6B | 1.6B | 1.6B | 1.4B | 1.4B |
| Other Intangible Assets | 776.8M | -- | -- | -- | 711.2M |
| Investments And Advances | 7.0B | 6.9B | 5.6B | 5.5B | 5.3B |
| Long Term Equity Investment | 57.4M | 49.5M | 47.5M | 46.8M | 47.5M |
| Total Assets | 9.6B | 9.6B | 8.3B | 7.8B | 7.7B |
| Current Debt | -- | -- | -- | -- | 0.00 |
| Current Debt And Capital Lease Obligation | -- | -- | -- | -- | 0.00 |
| Accounts Payable | -- | -- | -- | -- | -- |
| Payables | 21.2M | 20.4M | 2.5M | 700,000 | 42.3M |
| Payables And Accrued Expenses | 21.2M | 20.4M | 2.5M | 700,000 | 42.3M |
| Long Term Debt | 1.1B | 1.1B | 114.3M | 114.3M | 114.3M |
| Long Term Debt And Capital Lease Obligation | 1.2B | 1.2B | 146.7M | 147.6M | 149.5M |
| Long Term Capital Lease Obligation | 41.9M | 39.9M | 32.4M | 33.3M | 35.2M |
| Total Liabilities Net Minority Interest | 5.3B | 5.3B | 4.3B | 4.2B | 4.2B |
| Common Stock | 2.6B | 2.6B | 2.6B | 2.2B | 2.2B |
| Capital Stock | 2.6B | 2.6B | 2.6B | 2.2B | 2.2B |
| Additional Paid In Capital | 53.0M | 46.5M | 36.9M | 30.0M | 42.4M |
| Retained Earnings | 1.4B | 1.3B | 1.2B | 1.1B | 1.1B |
| Gains Losses Not Affecting Retained Earnings | 21.2M | 20.1M | -39.3M | -1.8M | -1.1M |
| Other Equity Adjustments | 21.2M | 20.1M | -39.3M | -1.8M | -1.1M |
| Common Stock Equity | 4.0B | 4.0B | 3.8B | 3.4B | 3.3B |
| Stockholders Equity | 4.0B | 4.0B | 3.8B | 3.4B | 3.3B |
| Total Equity Gross Minority Interest | 4.3B | 4.2B | 4.0B | 3.6B | 3.5B |
| Minority Interest | 242.4M | 238.2M | 236.3M | 214.4M | 186.3M |
| Total Capitalization | 5.2B | 5.1B | 3.9B | 3.5B | 3.4B |
| Net Tangible Assets | 2.5B | 2.4B | 2.2B | 1.9B | 1.9B |
| Tangible Book Value | 2.5B | 2.4B | 2.2B | 1.9B | 1.9B |
| Invested Capital | 5.2B | 5.1B | 3.9B | 3.5B | 3.4B |
| Total Debt | 1.2B | 1.2B | 146.7M | 147.6M | 149.5M |
| Net Debt | 766.8M | 769.6M | -- | -- | -- |
| Share Issued | 121.6M | 121.6M | 121.6M | 115.8M | 115.8M |
| Ordinary Shares Number | 119.9M | 119.9M | 119.9M | 114.1M | 114.0M |
| Capital Lease Obligations | 41.9M | 39.9M | 32.4M | 33.3M | 35.2M |
| Defined Pension Benefit | 40.3M | 47.0M | 44.8M | 46.7M | 48.1M |
| Derivative Product Liabilities | 20.7M | -- | 71.2M | -- | 0.00 |
| Employee Benefits | 43.8M | 42.9M | 44.1M | 40.4M | 35.9M |
| Income Tax Payable | 21.2M | 20.4M | 2.5M | 700,000 | 42.3M |
| Investments In Other Ventures Under Equity Method | 57.4M | 49.5M | 47.5M | 46.8M | 47.5M |
| Long Term Provisions | -- | -- | -- | -- | 4.0M |
| Non Current Deferred Liabilities | 153.3M | 163.0M | 164.7M | 154.8M | 154.3M |
| Non Current Deferred Taxes Liabilities | 153.3M | 163.0M | 164.7M | 154.8M | 154.3M |
| Non Current Pension And Other Postretirement Benefit Plans | 26.7M | 27.0M | 27.0M | 27.0M | 26.5M |
| Other Current Borrowings | -- | -- | -- | -- | 0.00 |
| Other Receivables | 78.7M | 67.5M | 57.1M | 54.7M | 50.8M |
| Taxes Receivable | 900,000 | 4.0M | 20.6M | 15.7M | 6.7M |
| Total Tax Payable | 21.2M | 20.4M | 2.5M | 700,000 | 42.3M |
| Treasury Shares Number | 1.7M | 1.7M | 1.7M | 1.7M | 1.8M |
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 |
|---|---|---|---|---|---|
| Operating Cash Flow | 155.3M | 226.3M | 204.1M | -73.1M | 122.0M |
| Cash Flow From Continuing Operating Activities | 155.3M | 226.3M | 204.1M | -73.1M | 122.0M |
| Depreciation And Amortization | 35.9M | 34.5M | 34.0M | 32.1M | 31.4M |
| Stock Based Compensation | 7.0M | 9.8M | 6.8M | 7.2M | 7.9M |
| Change In Working Capital | 47.2M | 88.8M | 95.5M | -93.7M | -18.8M |
| Change In Payables And Accrued Expense | 23.7M | 1.1M | 6.2M | -36.6M | 11.6M |
| Change In Payable | 23.7M | 1.1M | 6.2M | -36.6M | 11.6M |
| Change In Other Current Assets | -700,000 | -20.6M | 200,000 | -13.4M | 13.5M |
| Capital Expenditure | -19.4M | -29.0M | -20.5M | -30.7M | -14.3M |
| Purchase Of Business | -2.7M | -22.9M | -86.2M | -39.0M | -58.7M |
| Purchase Of Investment | -1.2B | -1.6B | -909.1M | -855.8M | -749.1M |
| Sale Of Investment | 1.2B | 434.7M | 795.3M | 735.3M | 568.7M |
| Net Investment Purchase And Sale | -17.5M | -1.2B | -113.8M | -120.5M | -180.4M |
| Investing Cash Flow | -39.5M | -1.2B | -186.1M | -189.6M | -252.9M |
| Cash Flow From Continuing Investing Activities | -39.5M | -1.2B | -186.1M | -189.6M | -252.9M |
| Issuance Of Debt | 0.00 | 996.3M | -- | -- | 0.00 |
| Repayment Of Debt | -- | -- | -- | -- | 0.00 |
| Net Issuance Payments Of Debt | 0.00 | 996.3M | -- | -- | 0.00 |
| Issuance Of Capital Stock | 0.00 | 0.00 | 371.5M | 16.8M | -- |
| Repurchase Of Capital Stock | 0.00 | 0.00 | -300,000 | -11.9M | -34.2M |
| Net Common Stock Issuance | 0.00 | 0.00 | 371.2M | 4.9M | -34.2M |
| Common Stock Dividend Paid | -22.4M | -22.5M | -22.5M | -21.1M | -18.4M |
| Common Stock Payments | 0.00 | 0.00 | -300,000 | -11.9M | -34.2M |
| Financing Cash Flow | -102.9M | 902.8M | 288.0M | 76.8M | 36.2M |
| Cash Flow From Continuing Financing Activities | -102.9M | 902.8M | 288.0M | 76.8M | 36.2M |
| Changes In Cash | 12.9M | -114.0M | 306.0M | -185.9M | -94.7M |
| Beginning Cash Position | 343.0M | 457.0M | 151.0M | 336.9M | 431.6M |
| End Cash Position | 355.9M | 343.0M | 457.0M | 151.0M | 336.9M |
| Free Cash Flow | 135.9M | 197.3M | 183.6M | -103.8M | 107.7M |
| Interest Paid Supplemental Data | 2.8M | 3.1M | -- | -- | -- |
| Amortization Cash Flow | 31.2M | 30.6M | 30.1M | 28.5M | 26.6M |
| Amortization Of Intangibles | 31.2M | 30.6M | 30.1M | 28.5M | 26.6M |
| Amortization Of Securities | -11.6M | -5.4M | -5.9M | -6.5M | -6.8M |
| Cash Dividends Paid | -22.4M | -22.5M | -22.5M | -21.1M | -18.4M |
| Change In Account Payable | 23.7M | 1.1M | 6.2M | -36.6M | 11.6M |
| Common Stock Issuance | 0.00 | 0.00 | 371.5M | 16.8M | -- |
| Depreciation | 4.7M | 3.9M | 3.9M | 3.6M | 4.8M |
| Earnings Losses From Equity Investments | -1.3M | -1.1M | -2.0M | 800,000 | -1.6M |
| Gain Loss On Investment Securities | 7.4M | -95.5M | -20.0M | -52.2M | -195.5M |
| Long Term Debt Issuance | 0.00 | 996.3M | -- | -- | 0.00 |
| Long Term Debt Payments | -- | -- | -- | -- | 0.00 |
| Net Business Purchase And Sale | -2.7M | -22.9M | -86.2M | -39.0M | -58.7M |
| Net Income From Continuing Operations | 85.9M | 252.5M | 116.1M | 123.3M | 156.6M |
| Net Intangibles Purchase And Sale | -19.4M | -29.0M | -20.5M | -30.7M | -14.3M |
| Net Investment Properties Purchase And Sale | 0.00 | 0.00 | 22.1M | -- | -- |
| Net Long Term Debt Issuance | 0.00 | 996.3M | -- | -- | -- |
| Net Other Financing Charges | 100,000 | -700,000 | -600,000 | -7.9M | -21.3M |
| Net Short Term Debt Issuance | -- | -- | -- | -- | -- |
| Operating Gains Losses | 33.9M | -96.6M | -22.0M | -51.4M | -197.1M |
| Purchase Of Intangibles | -19.4M | -29.0M | -20.5M | -30.7M | -14.3M |
| Sale Of Investment Properties | 0.00 | 0.00 | 22.1M | -- | -- |
| Taxes Refund Paid | -43.0M | -29.5M | -48.2M | -84.1M | -39.0M |
| Unrealized Gain Loss On Investment Securities | -- | -- | -- | -- | -- |