AFG FY 2008 Earnings Report — American Financial Group, Inc. Revenue & Financial Results | Market Cap Arena

American Financial Group, Inc.AFG

FY 2008 Earnings

Reported February 27, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$4.3B	—	$4.4B	—	-2.0%
Op. Income	$316M	—	$639M	—	-50.6%
Gross Margin	40.5%	—	46.9%	—	-6.4pp
Net Margin	4.6%	—	8.8%	—	-4.2pp
EPS (Diluted)	$1.67	—	$3.10	—	-46.1%
Free Cash Flow	$927M	—	$774M	—	19.7%

Revenue Flow

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$2.6B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$889M
General & Administrative	$463M
SG&A Expenses	$1.4B
Other Expenses	$70M
Operating Expenses	$1.4B
Cost & Expenses	$4.0B
OPERATING INCOME	$316M
Interest Income	$0
Interest Expense	$70M
Other Income/Expenses	$0
INCOME BEFORE TAX	$316M
Income Tax Expense	$116M
Net Income from Continuing Ops	$200M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$196M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$196M
D&A	$221M
EBIT	$386M
EBITDA	$606M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$2.6B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$889M
General & Administrative	$463M
SG&A Expenses	$1.4B
Other Expenses	$70M
Operating Expenses	$1.4B
Cost & Expenses	$4.0B
OPERATING INCOME	$316M
Interest Income	$0
Interest Expense	$70M
Other Income/Expenses	$0
INCOME BEFORE TAX	$316M
Income Tax Expense	$116M
Net Income from Continuing Ops	$200M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$196M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$196M
D&A	$221M
EBIT	$386M
EBITDA	$606M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$196M
Depreciation & Amortization	$221M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$910M
Change in Working Capital	-$354M
OPERATING CASH FLOW	$973M
Capital Expenditure	-$46M
Acquisitions (Net)	-$68M
Purchases of Investments	-$6.4B
Sales/Maturities of Investments	$5.8B
Other Investing Activities	$51M
NET CASH FROM INVESTING	-$721M
Net Debt Issuance	$93M
Common Stock Repurchased	-$47M
Common Dividends Paid	-$51M
Other Financing Activities	$179M
NET CASH FROM FINANCING	$196M
FREE CASH FLOW	$927M
Net Change in Cash	$448M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$0
Net Receivables	$4.9B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$6.2B
PP&E (Net)	$0
Goodwill	$210M
Intangible Assets	$0
Long-Term Investments	$16.0B
Tax Assets	$1.0B
Other Non-Current Assets	$3.4B
TOTAL NON-CURRENT ASSETS	$20.7B
TOTAL ASSETS	$26.9B
Account Payables	$0
Short-Term Debt	$137M
Deferred Revenue	$1.7B
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$893M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$430M
Other Non-Current Liabilities	$21.1B
TOTAL NON-CURRENT LIABILITIES	$22.4B
TOTAL LIABILITIES	$24.3B
Common Stock	$116M
Additional Paid-In Capital	$1.2B
Retained Earnings	$1.8B
Treasury Stock	$0
Accum. Other Comp. Income	-$703M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	$112M
TOTAL EQUITY	$2.6B
TOTAL LIABILITIES & EQUITY	$26.9B
Total Debt	$1.0B
Net Debt	-$234M