AIZN FY 2019 Earnings Report — Assurant, Inc. 5.25% Subordinat Revenue & Financial Results | Market Cap Arena

Assurant, Inc. 5.25% SubordinatAIZN

FY 2019 Earnings

Reported February 19, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$9.5B	—	$8.0B	—	19.1%
Op. Income	$455M	—	$334M	—	36.3%
Gross Margin	41.0%	—	42.0%	—	-1.0pp
Net Margin	4.0%	—	3.1%	—	0.9pp
EPS (Diluted)	$6.14	—	$4.22	—	45.5%
Free Cash Flow	$1.3B	—	$574M	—	127.1%

Revenue Flow

Item	Amount
REVENUE	$9.5B
Cost of Revenue	$5.6B
GROSS PROFIT	$3.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$3.5B
Operating Expenses	$3.5B
Cost & Expenses	$9.1B
OPERATING INCOME	$455M
Interest Income	$0
Interest Expense	$111M
Other Income/Expenses	$0
INCOME BEFORE TAX	$455M
Income Tax Expense	$148M
Net Income from Continuing Ops	$306M
Net Income from Discontinued Ops	$80M
Other Adjustments	$0
NET INCOME	$383M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$364M
D&A	$126M
EBIT	$565M
EBITDA	$691M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$9.5B
Cost of Revenue	$5.6B
GROSS PROFIT	$3.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$3.5B
Operating Expenses	$3.5B
Cost & Expenses	$9.1B
OPERATING INCOME	$455M
Interest Income	$0
Interest Expense	$111M
Other Income/Expenses	$0
INCOME BEFORE TAX	$455M
Income Tax Expense	$148M
Net Income from Continuing Ops	$306M
Net Income from Discontinued Ops	$80M
Other Adjustments	$0
NET INCOME	$383M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$364M
D&A	$126M
EBIT	$565M
EBITDA	$691M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$383M
Depreciation & Amortization	$126M
Stock-Based Compensation	$56M
Deferred Income Tax	$90M
Other Non-Cash Items	$131M
Change in Working Capital	$629M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$110M
Acquisitions (Net)	-$8M
Purchases of Investments	-$4.3B
Sales/Maturities of Investments	$3.9B
Other Investing Activities	-$44M
NET CASH FROM INVESTING	-$620M
Net Debt Issuance	$236M
Common Stock Repurchased	-$272M
Common Dividends Paid	-$151M
Other Financing Activities	$27M
NET CASH FROM FINANCING	-$179M
FREE CASH FLOW	$1.3B
Net Change in Cash	$613M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.9B
Short-Term Investments	$12.7B
Net Receivables	$11.3B
Inventory	$0
Other Current Assets	-$25.9B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$434M
Goodwill	$2.3B
Intangible Assets	$2.5B
Long-Term Investments	$15.1B
Tax Assets	$0
Other Non-Current Assets	-$20.5B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$44.3B
Account Payables	$3.0B
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$3.6B
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$2.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$2.0B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$38.6B
Common Stock	$2M
Additional Paid-In Capital	$4.5B
Retained Earnings	$6.0B
Treasury Stock	-$5.3B
Accum. Other Comp. Income	$412M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.7B
Minority Interest	$29M
TOTAL EQUITY	$5.7B
TOTAL LIABILITIES & EQUITY	$44.3B
Total Debt	$2.0B
Net Debt	$140M