AIZ FY 2007 Earnings Report — Assurant, Inc. Revenue & Financial Results | Market Cap Arena

Assurant, Inc.AIZ

FY 2007 Earnings

Reported March 3, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$8.5B	—	$8.1B	—	4.7%
Op. Income	$1.0B	—	$1.1B	—	-7.7%
Gross Margin	39.2%	—	41.5%	—	-2.3pp
Net Margin	7.7%	—	8.9%	—	-1.2pp
EPS (Diluted)	$5.38	—	$5.57	—	-3.4%
Free Cash Flow	$1.1B	—	$848M	—	35.0%

Revenue Flow

Item	Amount
REVENUE	$8.5B
Cost of Revenue	$5.1B
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$61M
Operating Expenses	$2.3B
Cost & Expenses	$7.4B
OPERATING INCOME	$1.0B
Interest Income	$0
Interest Expense	$61M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$357M
Net Income from Continuing Ops	$654M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$654M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$654M
D&A	$61M
EBIT	$1.1B
EBITDA	$1.1B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$8.5B
Cost of Revenue	$5.1B
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$61M
Operating Expenses	$2.3B
Cost & Expenses	$7.4B
OPERATING INCOME	$1.0B
Interest Income	$0
Interest Expense	$61M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$357M
Net Income from Continuing Ops	$654M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$654M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$654M
D&A	$61M
EBIT	$1.1B
EBITDA	$1.1B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$654M
Depreciation & Amortization	$94M
Stock-Based Compensation	$20M
Deferred Income Tax	$0
Other Non-Cash Items	-$835M
Change in Working Capital	$1.3B
OPERATING CASH FLOW	$1.2B
Capital Expenditure	-$59M
Acquisitions (Net)	-$162M
Purchases of Investments	-$3.8B
Sales/Maturities of Investments	$2.4B
Other Investing Activities	$452M
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	$176M
Common Stock Repurchased	-$317M
Common Dividends Paid	-$55M
Other Financing Activities	$9M
NET CASH FROM FINANCING	-$187M
FREE CASH FLOW	$1.1B
Net Change in Cash	-$183M

Balance Sheet

Item	Amount
Cash & Equivalents	$805M
Short-Term Investments	$411M
Net Receivables	$606M
Inventory	$0
Other Current Assets	-$1.8B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$276M
Goodwill	$833M
Intangible Assets	$0
Long-Term Investments	$11.2B
Tax Assets	$0
Other Non-Current Assets	-$12.3B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$26.8B
Account Payables	$1.4B
Short-Term Debt	$0
Deferred Revenue	$217M
Other Current Liabilities	-$5.2B
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$972M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$108M
Other Non-Current Liabilities	-$1.1B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$22.6B
Common Stock	$1M
Additional Paid-In Capital	$2.9B
Retained Earnings	$2.3B
Treasury Stock	-$1.1B
Accum. Other Comp. Income	$54M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.1B
Minority Interest	$21M
TOTAL EQUITY	$4.1B
TOTAL LIABILITIES & EQUITY	$26.8B
Total Debt	$1.5B
Net Debt	$167M