AIZN Q3 2016 Earnings Report — Assurant, Inc. 5.25% Subordinat Revenue & Financial Results | Market Cap Arena

Assurant, Inc. 5.25% SubordinatAIZN

Q3 2016 Earnings

Reported November 1, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2016	Q2 2016	Q3 2015	QoQ Change	YoY Change
Revenue	$1.7B	$1.7B	—	1.6%	—
Op. Income	$221M	$236M	—	-6.2%	—
Gross Margin	54.9%	55.5%	—	-0.6pp	—
Net Margin	8.5%	10.1%	—	-1.6pp	—
EPS (Diluted)	$2.37	$2.70	—	-12.2%	—
Free Cash Flow	$240M	$12M	—	1839.3%	—

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$766M
GROSS PROFIT	$933M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$712M
Operating Expenses	$712M
Cost & Expenses	$1.5B
OPERATING INCOME	$221M
Interest Income	$0
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$221M
Income Tax Expense	$77M
Net Income from Continuing Ops	$144M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$144M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$144M
D&A	$0
EBIT	$235M
EBITDA	$235M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$766M
GROSS PROFIT	$933M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$712M
Operating Expenses	$712M
Cost & Expenses	$1.5B
OPERATING INCOME	$221M
Interest Income	$0
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$221M
Income Tax Expense	$77M
Net Income from Continuing Ops	$144M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$144M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$144M
D&A	$0
EBIT	$235M
EBITDA	$235M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$144M
Depreciation & Amortization	$0
Stock-Based Compensation	$15M
Deferred Income Tax	$0
Other Non-Cash Items	$718M
Change in Working Capital	-$604M
OPERATING CASH FLOW	$259M
Capital Expenditure	-$19M
Acquisitions (Net)	-$27M
Purchases of Investments	-$870M
Sales/Maturities of Investments	$778M
Other Investing Activities	$24M
NET CASH FROM INVESTING	-$114M
Net Debt Issuance	-$100.0K
Common Stock Repurchased	-$229M
Common Dividends Paid	-$30M
Other Financing Activities	$4M
NET CASH FROM FINANCING	-$257M
FREE CASH FLOW	$240M
Net Change in Cash	-$116M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$10.3B
Net Receivables	$10.4B
Inventory	$0
Other Current Assets	-$21.8B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$337M
Goodwill	$840M
Intangible Assets	$298M
Long-Term Investments	$10.8B
Tax Assets	$0
Other Non-Current Assets	-$12.2B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$30.3B
Account Payables	$3.5B
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$4.0B
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$1.2B
Deferred Revenue NC	$318M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$1.5B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$25.8B
Common Stock	$2M
Additional Paid-In Capital	$3.2B
Retained Earnings	$4.2B
Treasury Stock	-$4.3B
Accum. Other Comp. Income	$328M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.5B
Minority Interest	$0
TOTAL EQUITY	$4.5B
TOTAL LIABILITIES & EQUITY	$30.3B
Total Debt	$1.2B
Net Debt	$49M