AIZN Q2 2018 Earnings Report — Assurant, Inc. 5.25% Subordinat Revenue & Financial Results | Market Cap Arena

Assurant, Inc. 5.25% SubordinatAIZN

Q2 2018 Earnings

Reported August 9, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2018	Q1 2018	Q2 2017	QoQ Change	YoY Change
Revenue	$1.8B	$1.6B	$1.6B	12.1%	15.2%
Op. Income	$78M	$137M	$179M	-42.6%	-56.2%
Gross Margin	47.5%	53.0%	51.6%	-5.5pp	-4.1pp
Net Margin	3.7%	6.5%	7.6%	-2.9pp	-3.9pp
EPS (Diluted)	$1.09	$1.96	$2.16	-44.4%	-49.5%
Free Cash Flow	$226M	-$92M	-$41M	345.6%	654.9%

Revenue Flow

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$954M
GROSS PROFIT	$863M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$785M
Operating Expenses	$785M
Cost & Expenses	$1.7B
OPERATING INCOME	$78M
Interest Income	$0
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$78M
Income Tax Expense	$11M
Net Income from Continuing Ops	$67M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$67M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$62M
D&A	$25M
EBIT	$104M
EBITDA	$129M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$954M
GROSS PROFIT	$863M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$785M
Operating Expenses	$785M
Cost & Expenses	$1.7B
OPERATING INCOME	$78M
Interest Income	$0
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$78M
Income Tax Expense	$11M
Net Income from Continuing Ops	$67M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$67M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$62M
D&A	$25M
EBIT	$104M
EBITDA	$129M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$67M
Depreciation & Amortization	$25M
Stock-Based Compensation	$12M
Deferred Income Tax	$11M
Other Non-Cash Items	$10.1B
Change in Working Capital	-$9.9B
OPERATING CASH FLOW	$248M
Capital Expenditure	-$22M
Acquisitions (Net)	-$1.2B
Purchases of Investments	-$1.6B
Sales/Maturities of Investments	$1.2B
Other Investing Activities	-$37M
NET CASH FROM INVESTING	-$1.6B
Net Debt Issuance	$338M
Common Stock Repurchased	$100.0K
Common Dividends Paid	-$31M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	$301M
FREE CASH FLOW	$226M
Net Change in Cash	-$1.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$11.6B
Net Receivables	$12.5B
Inventory	$0
Other Current Assets	-$25.4B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$371M
Goodwill	$2.4B
Intangible Assets	$4.6B
Long-Term Investments	$13.3B
Tax Assets	$0
Other Non-Current Assets	-$20.7B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$42.4B
Account Payables	$3.8B
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$4.1B
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$2.0B
Deferred Revenue NC	$95M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$2.1B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$37.0B
Common Stock	$2M
Additional Paid-In Capital	$4.5B
Retained Earnings	$5.8B
Treasury Stock	-$4.9B
Accum. Other Comp. Income	-$138M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.3B
Minority Interest	$20M
TOTAL EQUITY	$5.3B
TOTAL LIABILITIES & EQUITY	$42.4B
Total Debt	$2.0B
Net Debt	$751M