Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 12

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 12
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 gains (losses) on available for sale investments, net of tax:Balance at beginning of year(347,659)(743,695)62,155 Unrealized gains (losses) arising during the year, net of reclassification adjustment122,042 396,036 (805,850)Balance at end of year(225,617)(347,659)(743,695)Cumulative foreign currency translation adjustments, net of tax:Balance at beginning of year(18,177)(16,605)(5,619)Foreign currency translation adjustment(23,763)(1,572)(10,986)Balance at end of year(41,940)(18,177)(16,605)Balance at end of year(267,557)(365,836)(760,300)Retained earningsBalance at beginning of year6,440,528 6,247,022 6,204,745 Net income1,081,786 376,292 223,083 Preferred share dividends (1)(30,250)(30,250)(30,250)Common share dividends (1)(150,495)(152,536)(150,556)Balance at end of year7,341,569 6,440,528 6,247,022 Treasury shares, at costBalance at beginning of year(3,746,732)(3,765,271)(3,749,010)Shares repurchased(215,868)(23,596)(48,981)Shares reissued31,698 42,135 32,720 Balance at end of year(3,930,902)(3,746,732)(3,765,271)Total shareholders' equity$6,089,379 $5,263,196 $4,639,910 

(1)   Refer to Note 15 'Shareholders' Equity' for details on dividends declared and paid related to the Company's common and preferred shares.

 See accompanying notes to Consolidated Financial Statements.119

AXIS CAPITAL HOLDINGS LIMITEDCONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2024, 2023, AND 2022

202420232022 (in thousands)Cash flows from operating activities:Net income$1,081,786 $376,292 $223,083 Adjustments to reconcile net income to net cash provided by operating activities:Net investment losses (