AIZN FY 2018 Earnings Report — Assurant, Inc. 5.25% Subordinat Revenue & Financial Results | Market Cap Arena

Assurant, Inc. 5.25% SubordinatAIZN

FY 2018 Earnings

Reported February 22, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$8.0B	—	$6.3B	—	26.8%
Op. Income	$334M	—	$445M	—	-25.0%
Gross Margin	42.0%	—	49.1%	—	-7.2pp
Net Margin	3.1%	—	8.2%	—	-5.1pp
EPS (Diluted)	$4.22	—	$9.39	—	-55.1%
Free Cash Flow	$574M	—	$468M	—	22.5%

Revenue Flow

Item	Amount
REVENUE	$8.0B
Cost of Revenue	$4.6B
GROSS PROFIT	$3.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$3.0B
Operating Expenses	$3.0B
Cost & Expenses	$7.7B
OPERATING INCOME	$334M
Interest Income	$0
Interest Expense	$100M
Other Income/Expenses	$0
INCOME BEFORE TAX	$334M
Income Tax Expense	$81M
Net Income from Continuing Ops	$253M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$251M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$237M
D&A	$127M
EBIT	$434M
EBITDA	$561M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$8.0B
Cost of Revenue	$4.6B
GROSS PROFIT	$3.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$3.0B
Operating Expenses	$3.0B
Cost & Expenses	$7.7B
OPERATING INCOME	$334M
Interest Income	$0
Interest Expense	$100M
Other Income/Expenses	$0
INCOME BEFORE TAX	$334M
Income Tax Expense	$81M
Net Income from Continuing Ops	$253M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$251M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$237M
D&A	$127M
EBIT	$434M
EBITDA	$561M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$251M
Depreciation & Amortization	$127M
Stock-Based Compensation	$57M
Deferred Income Tax	$20M
Other Non-Cash Items	$50M
Change in Working Capital	$152M
OPERATING CASH FLOW	$657M
Capital Expenditure	-$83M
Acquisitions (Net)	-$1.1B
Purchases of Investments	-$6.3B
Sales/Maturities of Investments	$5.3B
Other Investing Activities	-$92M
NET CASH FROM INVESTING	-$2.2B
Net Debt Issuance	$1.8B
Common Stock Repurchased	-$139M
Common Dividends Paid	-$134M
Other Financing Activities	$25M
NET CASH FROM FINANCING	$1.8B
FREE CASH FLOW	$574M
Net Change in Cash	$257M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$11.6B
Net Receivables	$10.8B
Inventory	$0
Other Current Assets	-$23.7B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$393M
Goodwill	$2.3B
Intangible Assets	$3.8B
Long-Term Investments	$13.7B
Tax Assets	$0
Other Non-Current Assets	-$20.2B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$41.1B
Account Payables	$3.1B
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$3.5B
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$2.0B
Deferred Revenue NC	$53M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$2.1B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$36.0B
Common Stock	$2M
Additional Paid-In Capital	$4.5B
Retained Earnings	$5.8B
Treasury Stock	-$5.0B
Accum. Other Comp. Income	-$155M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.1B
Minority Interest	$22M
TOTAL EQUITY	$5.1B
TOTAL LIABILITIES & EQUITY	$41.1B
Total Debt	$2.0B
Net Debt	$752M