# RYAN SPECIALTY HOLDINGS, INC. (RYAN) FY2026 Q2 Statement of Cash Flows

- Company: RYAN SPECIALTY HOLDINGS, INC. (RYAN)
- Period: 2026-04-01 to 2026-06-30
- Filing: Q2 FY2026 10-Q, filed 2026-07-31, accession number 0001849253-26-000036
- Page: https://plicit.ai/financials/ryan/fy2026-q2-cash-flow
- Chart image: https://plicit.ai/charts/ryan-fy2026-q2-cash-flow-sankey.png

## Chart details

Cash flows for Apr 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Mar 31, 2026. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

- **Beginning cash on Mar 31, 2026**: 1,484,888,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
- **Operating activities**: 293,029,000 US dollars. Net cash provided.
- **Net income**: 108,381,000 US dollars
- **Income from equity method investments**: negative 7,039,000 US dollars
- **Impairment of internally-developed software**: 11,982,000 US dollars
- **Amortization**: 64,387,000 US dollars
- **Depreciation**: 4,133,000 US dollars
- **Prepaid and deferred compensation expense**: 4,658,000 US dollars
- **Non-cash equity-based compensation**: 21,389,000 US dollars
- **Amortization of deferred debt issuance costs**: 2,434,000 US dollars
- **Amortization of interest rate cap premium**: 0 US dollars
- **Loss on Tax Receivable Agreement**: 380,000 US dollars
- **Deferred income tax expense**: 17,143,000 US dollars
- **Deferred income tax expense from common control reorganization**: 0 US dollars
- **Commissions and fees receivable – net**: negative 132,625,000 US dollars
- **Accrued interest liability**: 21,828,000 US dollars
- **Other current and non-current assets**: 2,878,000 US dollars
- **Other current and non-current liabilities**: 173,100,000 US dollars
- **Investing activities**: negative 18,723,000 US dollars. Net cash used.
- **Business combinations – net of cash acquired and cash held in a fiduciary capacity**: 0 US dollars
- **Capital expenditures**: negative 17,167,000 US dollars
- **Equity method investment in VSIC**: 0 US dollars
- **Asset acquisitions**: negative 1,556,000 US dollars
- **Financing activities**: 3,965,000 US dollars. Net cash provided.
- **Borrowings on Revolving Credit Facility**: 370,632,000 US dollars
- **Repayments on Revolving Credit Facility**: negative 331,507,000 US dollars
- **Debt issuance costs paid**: 0 US dollars
- **Repayment of term debt**: negative 4,250,000 US dollars
- **Receipt of contingently returnable consideration**: 0 US dollars
- **Payment of contingent consideration**: negative 21,943,000 US dollars
- **Receipt of taxes related to net share settlement of equity awards**: 5,875,000 US dollars
- **Taxes paid related to net share settlement of equity awards**: negative 5,826,000 US dollars
- **Class A common stock dividends and Dividend Equivalents paid**: negative 16,946,000 US dollars
- **Distributions and Declared Distributions paid to non-controlling LLC Unitholders**: negative 8,082,000 US dollars
- **Repurchases of Class A common stock**: negative 260,163,000 US dollars
- **Payments related to Ryan Re preferred units**: 0 US dollars
- **Net change in fiduciary liabilities**: 292,834,000 US dollars
- **Tax distributions to non-controlling LLC Unitholders**: negative 16,659,000 US dollars
- **Operating adjustment reconciliation**: 324,312,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
- **financing gross reconciliation**: 669,341,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- **investing gross reconciliation**: 18,723,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- **Exchange-rate effect**: negative 274,000 US dollars
- **Ending cash on Jun 30, 2026**: 1,762,885,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
- **Cash sources and uses**: 1,781,882,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- **Net cash change**: 277,997,000 US dollars. Ending cash minus beginning cash.
- **Cash flow / Net income**: 2.70×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
- **Operating cash flow**: 293,029,000 US dollars. Operating cash flow used in the free cash flow calculation.
- **cash spent on productive assets**: 1,556,000 US dollars. These cash purchases are already included in investing activities above.
- **Free cash flow**: 291,473,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

### Chart connections

- Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
- Financing contributions meet at a reconciliation junction before connecting to the net cash total.
- Investing contributions meet at a reconciliation junction before connecting to the net cash total.
- Operating reconciliation adjustments are not all independent cash receipts.
- Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $184.65M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
- Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
- The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
- Operating cash flow minus cash spent on productive assets equals free cash flow: 293,029,000 US dollars minus 1,556,000 US dollars equals 291,473,000 US dollars.