Fairfax Financial Holdings Limited
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 | 30.4B | 27.0B | 25.8B | 19.6B | 25.8B |
| Operating Revenue | 30.4B | 27.0B | 25.8B | 19.6B | 25.8B |
| Selling General And Administration | 6.8B | 5.3B | -- | 1.4B | 1.2B |
| General And Administrative Expense | 1.6B | 1.2B | -- | 1.3B | 1.1B |
| Depreciation And Amortization In Income Statement | -- | -- | -- | 450.4M | 639.4M |
| Other Operating Expenses | -6.7B | -5.1B | 384.4M | 236.0M | 6.2B |
| EBIT | 7.3B | 6.3B | 6.4B | 5.4B | 4.9B |
| Interest Expense | 821.9M | 649.0M | 510.0M | 452.8M | 513.9M |
| Interest Expense Non Operating | 821.9M | 649.0M | 510.0M | 452.8M | 513.9M |
| Interest Income | 1.3B | 1.2B | 1.9B | 995.0M | 640.8M |
| Net Interest Income | -821.9M | -649.0M | -510.0M | -452.8M | -513.9M |
| Other Income Expense | -- | -- | -- | 5.6B | 5.2B |
| Special Income Charges | -- | 0.00 | 549.8M | 1.2B | 264.0M |
| Pretax Income | 6.4B | 5.6B | 5.9B | 4.9B | 4.4B |
| Tax Provision | 1.2B | 1.4B | 813.4M | 1.1B | 726.0M |
| Tax Effect Of Unusual Items | 0.00 | 0.00 | 75.9M | 272.0M | 43.6M |
| Net Income From Continuing And Discontinued Operation | 4.8B | 3.9B | 4.4B | 3.4B | 3.4B |
| Net Income From Continuing Operation Net Minority Interest | 4.8B | 3.9B | 4.4B | 3.4B | 3.4B |
| Net Income Including Noncontrolling Interests | 5.3B | 4.3B | 5.1B | 3.8B | 3.7B |
| Minority Interests | -511.4M | -388.0M | -713.1M | -437.5M | -265.5M |
| Net Income Common Stockholders | 4.9B | 3.9B | 4.3B | 3.3B | 3.4B |
| Net Income | 4.8B | 3.9B | 4.4B | 3.4B | 3.4B |
| Reconciled Depreciation | 783.8M | 753.8M | 896.0M | 677.4M | 930.4M |
| Basic EPS | 230.07 | 173.41 | 186.87 | 46.62 | 129.33 |
| Diluted EPS | 213.78 | 160.56 | 173.24 | 43.49 | 122.25 |
| Basic Average Shares | 21.4M | 22.4M | 23.2M | 23.6M | 26.0M |
| Diluted Average Shares | 23.1M | 24.2M | 25.3M | 26.4M | 27.8M |
| Total Unusual Items | -- | 0.00 | 549.8M | 1.2B | 264.0M |
| Total Unusual Items Excluding Goodwill | -- | 0.00 | 549.8M | 1.2B | 264.0M |
| Tax Rate For Calcs | 0.18 | 0.24 | 0.14 | 0.22 | 0.17 |
| Normalized Income | 4.8B | 3.9B | 3.9B | 2.4B | 3.2B |
| Diluted NI Availto Com Stockholders | 4.9B | 3.9B | 4.3B | 3.3B | 3.4B |
| Loss Adjustment Expense | 23.8B | 21.4B | 20.6B | 16.2B | 10.7B |
| Net Income Continuous Operations | 5.3B | 4.3B | 5.1B | 3.8B | 3.7B |
| Net Non Operating Interest Income Expense | -821.9M | -649.0M | -510.0M | -452.8M | -513.9M |
| Net Policyholder Benefits And Claims | 23.8B | 21.4B | 20.6B | 16.2B | 10.7B |
| Other Gand A | 1.6B | 1.2B | -- | 259.5M | 188.5M |
| Other Special Charges | -- | -- | -549.8M | -1.2B | -264.0M |
| Otherunder Preferred Stock Dividend | -187.1M | -53.5M | -- | -- | -- |
| Policyholder Benefits Ceded | 4.0B | 4.4B | 4.5B | 2.9B | 3.5B |
| Policyholder Benefits Gross | 27.8B | 25.8B | 25.1B | 19.1B | 14.2B |
| Preferred Stock Dividends | 24.5M | 48.6M | 49.7M | 45.2M | 44.5M |
| Salaries And Wages | -- | -- | -- | 1.0B | 896.5M |
| Selling And Marketing Expense | 5.2B | 4.1B | -- | 76.6M | 70.1M |
| Total Expenses | 24.0B | 21.3B | 19.9B | 14.7B | 21.4B |
| 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 | 8.6B | 7.1B | 5.1B | 6.1B | 25.3B |
| Cash Cash Equivalents And Short Term Investments | 8.6B | 7.2B | 7.3B | 9.4B | 25.3B |
| Other Short Term Investments | 19.5M | 51.6M | 2.2B | 3.3B | 9.7B |
| Accounts Receivable | 1.0B | 780.4M | 926.1M | 648.9M | 650.1M |
| Receivables | 2.6B | 2.5B | 2.5B | 2.1B | 650.1M |
| Prepaid Assets | 460.8M | 536.0M | 501.9M | 414.7M | 335.2M |
| Net PPE | 3.6B | 3.6B | 3.3B | 2.9B | 2.3B |
| Goodwill | 4.2B | 4.1B | 3.1B | 2.9B | 3.1B |
| Goodwill And Other Intangible Assets | 8.3B | 8.3B | 6.4B | 5.7B | 5.9B |
| Other Intangible Assets | 4.1B | 4.2B | 3.3B | 2.8B | 2.8B |
| Investments And Advances | 62.5B | 56.8B | 57.6B | 47.5B | 26.7B |
| Long Term Equity Investment | 10.0B | 8.5B | 8.0B | 7.4B | 4.7B |
| Total Assets | 107.8B | 96.8B | 92.0B | 78.8B | 76.1B |
| Current Debt | 2.5B | 2.1B | 1.1B | 899.8M | 647.6M |
| Current Debt And Capital Lease Obligation | 2.5B | 2.1B | 1.1B | 899.8M | 647.6M |
| Accounts Payable | 1.6B | 2.1B | 2.2B | 2.2B | 6.4B |
| Payables | 2.4B | 2.7B | 2.6B | 2.7B | 6.4B |
| Payables And Accrued Expenses | 4.5B | 4.9B | 4.8B | 4.4B | 6.4B |
| Current Accrued Expenses | 2.1B | 2.2B | 2.2B | 1.7B | 1.4B |
| Long Term Debt | 11.2B | 9.6B | 8.7B | 7.7B | 7.8B |
| Long Term Debt And Capital Lease Obligation | 12.4B | 10.9B | 9.7B | 8.8B | 7.8B |
| Long Term Capital Lease Obligation | 1.2B | 1.3B | 1.1B | 1.1B | 1.1B |
| Total Liabilities Net Minority Interest | 76.9B | 68.4B | 64.3B | 55.8B | 54.6B |
| Common Stock | 5.4B | 5.7B | 6.0B | 6.1B | 6.2B |
| Capital Stock | 5.6B | 6.8B | 7.3B | 7.4B | 7.5B |
| Retained Earnings | 22.1B | 19.0B | 16.9B | 13.0B | 10.1B |
| Treasury Stock | 1.1B | 1.0B | 906.7M | 891.3M | 808.1M |
| Gains Losses Not Affecting Retained Earnings | -905.0M | -1.4B | -962.2M | -982.9M | -801.7M |
| Other Equity Adjustments | -905.0M | -1.4B | -962.2M | -982.9M | -801.7M |
| Common Stock Equity | 26.3B | 23.0B | 21.6B | 17.8B | 15.2B |
| Stockholders Equity | 26.5B | 24.1B | 23.0B | 19.1B | 16.5B |
| Total Equity Gross Minority Interest | 30.9B | 28.3B | 27.7B | 23.0B | 21.5B |
| Minority Interest | 4.4B | 4.3B | 4.8B | 3.9B | 4.9B |
| Total Capitalization | 37.7B | 33.7B | 31.6B | 26.8B | 24.3B |
| Net Tangible Assets | 18.2B | 15.8B | 16.6B | 13.4B | 10.6B |
| Tangible Book Value | 17.9B | 14.7B | 15.2B | 12.1B | 9.3B |
| Invested Capital | 39.9B | 34.7B | 31.3B | 26.4B | 23.0B |
| Total Debt | 14.8B | 13.1B | 10.8B | 9.7B | 7.8B |
| Net Debt | 5.1B | 4.6B | 4.6B | 2.5B | 1.7B |
| Share Issued | 22.6M | 24.4M | 25.8M | 26.1M | 26.5M |
| Ordinary Shares Number | 20.9M | 22.5M | 23.8M | 24.1M | 24.7M |
| Accrued Interest Receivable | 516.1M | 483.2M | 490.8M | 317.2M | 215.1M |
| Capital Lease Obligations | 1.2B | 1.3B | 1.1B | 1.1B | 1.1B |
| Commercial Paper | -- | 2.1B | 1.2B | -- | -- |
| Current Notes Payable | -- | -- | 279.0M | 281.6M | -- |
| Defined Pension Benefit | 133.5M | 100.4M | 96.3M | 144.5M | 113.8M |
| Derivative Product Liabilities | 1.1B | 558.6M | 695.0M | 364.5M | 152.9M |
| Employee Benefits | 96.9M | 109.3M | 157.1M | 145.7M | 822.1M |
| Income Tax Payable | 589.2M | 565.3M | 422.6M | 450.0M | 652.7M |
| Investments In Other Ventures Under Equity Method | 10.0B | 8.5B | 8.0B | 7.4B | 4.7B |
| Line Of Credit | 2.5B | 2.1B | 1.1B | 899.8M | 647.6M |
| Non Current Deferred Liabilities | 2.3B | 2.2B | 1.7B | 1.3B | 586.5M |
| Non Current Deferred Revenue | 355.7M | 442.0M | 460.7M | 429.8M | 353.9M |
| Non Current Deferred Taxes Liabilities | 1.9B | 1.7B | 1.3B | 868.0M | 586.5M |
| Non Current Pension And Other Postretirement Benefit Plans | 96.9M | 109.3M | 157.1M | 145.7M | 253.9M |
| Other Equity Interest | 779.0M | 733.0M | 612.7M | 615.7M | 504.8M |
| Other Payable | 240.6M | -- | -- | -- | -- |
| Other Receivables | 934.7M | 1.0B | 826.8M | 876.9M | 909.9M |
| Preferred Shares Number | -- | 48.2M | 58.2M | 58.2M | 58.2M |
| Preferred Stock | 231.7M | 1.1B | 1.3B | 1.3B | 1.3B |
| Preferred Stock Equity | 231.7M | 1.1B | 1.3B | 1.3B | 1.3B |
| Taxes Receivable | 177.0M | 252.2M | 275.9M | 275.9M | 231.9M |
| Total Tax Payable | 589.2M | 565.3M | 422.6M | 450.0M | 652.7M |
| Treasury Shares Number | 1.8M | 2.0M | 2.0M | 2.0M | 1.9M |
| 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 | 2.4B | 4.0B | -39.4M | -4.4B | 6.6B |
| Cash Flow From Continuing Operating Activities | 2.4B | 4.0B | -39.4M | -4.4B | 6.6B |
| Depreciation And Amortization | 783.8M | 753.8M | 896.0M | 677.4M | 930.4M |
| Stock Based Compensation | 176.6M | 164.9M | 147.0M | 146.1M | 104.1M |
| Deferred Tax | 201.9M | 255.0M | 173.3M | 485.7M | 339.0M |
| Deferred Income Tax | 201.9M | 255.0M | 173.3M | 485.7M | 339.0M |
| Change In Working Capital | 4.3B | 1.4B | 3.1B | 802.5M | 3.0B |
| Changes In Account Receivables | -231.0M | 144.2M | -282.4M | -1.6M | -2.7B |
| Change In Receivables | -168.1M | 107.3M | -553.3M | -349.6M | -2.8B |
| Change In Payables And Accrued Expense | 108.7M | 38.7M | 239.7M | 55.6M | 1.4B |
| Change In Payable | 108.7M | 38.7M | 239.7M | 55.6M | 1.4B |
| Change In Other Working Capital | -380.9M | -411.5M | -423.6M | -337.2M | -758.1M |
| Other Non Cash Items | -4.1B | -515.8M | -5.5B | -9.6B | 2.7B |
| Capital Expenditure | -586.2M | -408.8M | -514.1M | -418.9M | -353.9M |
| Purchase Of PPE | -586.2M | -408.8M | -514.1M | -418.9M | -353.9M |
| Net PPE Purchase And Sale | -586.2M | -408.8M | -514.1M | -418.9M | -353.9M |
| Purchase Of Business | -1.6B | -2.1B | -882.0M | -593.4M | -175.4M |
| Sale Of Business | 908.6M | 750.1M | 1.2B | 1.3B | 2.3B |
| Investing Cash Flow | -523.8M | -1.3B | 92.0M | 384.8M | 1.8B |
| Cash Flow From Continuing Investing Activities | -523.8M | -1.3B | 92.0M | 384.8M | 1.8B |
| Issuance Of Debt | 2.4B | 3.8B | 622.5M | 1.1B | 1.7B |
| Repayment Of Debt | -991.9M | -2.1B | -580.1M | -268.0M | -2.8B |
| Net Issuance Payments Of Debt | 1.4B | 1.7B | 42.4M | 826.5M | -1.1B |
| Repurchase Of Capital Stock | -2.5B | -2.0B | -363.2M | -347.8M | -1.2B |
| Net Common Stock Issuance | -1.8B | -1.8B | -363.2M | -347.8M | -1.2B |
| Common Stock Dividend Paid | -343.6M | -363.1M | -245.2M | -249.9M | -272.1M |
| Common Stock Payments | -1.8B | -1.8B | -363.2M | -347.8M | -1.2B |
| Financing Cash Flow | -1.8B | -1.6B | -1.1B | -1.3B | -1.2B |
| Cash Flow From Continuing Financing Activities | -1.8B | -1.6B | -1.1B | -1.3B | -1.2B |
| Effect Of Exchange Rate Changes | 59.7M | -116.2M | 16.3M | -236.1M | -72.0M |
| Changes In Cash | 70.6M | 1.1B | -1.0B | -5.3B | 7.3B |
| Beginning Cash Position | 6.1B | 5.1B | 6.1B | 11.7B | 4.5B |
| End Cash Position | 6.2B | 6.1B | 5.1B | 6.1B | 11.7B |
| Free Cash Flow | 1.8B | 3.6B | -553.5M | -4.8B | 6.3B |
| Income Tax Paid Supplemental Data | 953.5M | 1.0B | 713.9M | -- | -- |
| Interest Paid Supplemental Data | 750.4M | 566.1M | 428.1M | -- | -- |
| Amortization Of Securities | -258.5M | -310.2M | -406.3M | -34.2M | 65.0M |
| Cash Dividends Paid | -368.1M | -411.7M | -294.9M | -295.1M | -316.6M |
| Change In Account Payable | 108.7M | 38.7M | 239.7M | 55.6M | 1.4B |
| Depreciation | 783.8M | 753.8M | 896.0M | 677.4M | 930.4M |
| Dividends Received Cfi | 740.0M | 419.6M | 246.7M | -- | -- |
| Earnings Losses From Equity Investments | -816.1M | -956.3M | -1.0B | -1.0B | -402.0M |
| Gain Loss On Investment Securities | -2.3B | 298.4M | -1.2B | 1.8B | -2.6B |
| Gain Loss On Sale Of Business | -233.8M | -575.5M | -871.8M | -1.3B | -507.0M |
| Long Term Debt Issuance | 2.4B | 3.8B | 622.5M | 790.4M | 1.7B |
| Long Term Debt Payments | -991.9M | -2.1B | -570.1M | -233.0M | -1.8B |
| Net Business Purchase And Sale | -654.9M | -1.3B | 306.1M | 719.0M | 2.2B |
| Net Foreign Currency Exchange Gain Loss | 439.7M | 25.2M | 118.8M | 143.6M | 93.1M |
| Net Income From Continuing Operations | 5.3B | 4.3B | 5.1B | 3.8B | 3.7B |
| Net Investment Properties Purchase And Sale | -22.7M | -33.0M | 53.3M | 84.7M | 27.0M |
| Net Long Term Debt Issuance | 1.4B | 1.7B | 52.4M | 557.4M | -5.1M |
| Net Other Financing Charges | -348.2M | -832.4M | -451.4M | -1.5B | 1.4B |
| Net Preferred Stock Issuance | -689.4M | -173.8M | 0.00 | -- | -- |
| Net Short Term Debt Issuance | -- | 0.00 | -10.0M | 269.1M | -1.0B |
| Operating Gains Losses | -2.9B | -1.2B | -3.0B | -315.7M | -3.4B |
| Preferred Stock Dividend Paid | -24.5M | -48.6M | -49.7M | -45.2M | -44.5M |
| Preferred Stock Payments | -689.4M | -173.8M | 0.00 | -- | -- |
| Sale Of Investment Properties | -- | -- | 53.3M | 84.7M | -- |
| Short Term Debt Issuance | -- | -- | -- | 304.1M | -- |
| Short Term Debt Payments | -- | 0.00 | -10.0M | -35.0M | -1.0B |