CINF FY 2011 Earnings Report — Cincinnati Financial Corporation Revenue & Financial Results | Market Cap Arena

Cincinnati Financial CorporationCINF

FY 2011 Earnings

Reported February 29, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$3.8B	—	—	—	—
Op. Income	$173M	—	—	—	—
Gross Margin	33.6%	—	—	—	—
Net Margin	4.3%	—	—	—	—
EPS (Diluted)	$1.02	—	—	—	—
Free Cash Flow	$240M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$2.5B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.1B
Operating Expenses	$1.1B
Cost & Expenses	$3.6B
OPERATING INCOME	$173M
Interest Income	$0
Interest Expense	$54M
Other Income/Expenses	$0
INCOME BEFORE TAX	$173M
Income Tax Expense	$9M
NET INCOME	$164M
D&A	$42M
EBIT	$227M
EBITDA	$269M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$2.5B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.1B
Operating Expenses	$1.1B
Cost & Expenses	$3.6B
OPERATING INCOME	$173M
Interest Income	$0
Interest Expense	$54M
Other Income/Expenses	$0
INCOME BEFORE TAX	$173M
Income Tax Expense	$9M
NET INCOME	$164M
D&A	$42M
EBIT	$227M
EBITDA	$269M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$164M
Depreciation & Amortization	$42M
Stock-Based Compensation	$13M
Deferred Income Tax	-$18M
Other Non-Cash Items	-$19M
Change in Working Capital	$65M
OPERATING CASH FLOW	$247M
Capital Expenditure	-$7M
Acquisitions (Net)	$0
Purchases of Investments	-$1.4B
Sales/Maturities of Investments	$1.4B
Other Investing Activities	$5M
NET CASH FROM INVESTING	-$8M
Net Debt Issuance	$55M
Common Stock Repurchased	-$32M
Common Dividends Paid	-$255M
Other Financing Activities	$46M
NET CASH FROM FINANCING	-$186M
FREE CASH FLOW	$240M
Net Change in Cash	$53M

Balance Sheet

Item	Amount
Cash & Equivalents	$438M
Short-Term Investments	$0
Net Receivables	$1.9B
Inventory	$0
Other Current Assets	-$11.1B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$227M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$11.7B
Tax Assets	$0
Other Non-Current Assets	-$12.0B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$15.6B
Account Payables	$0
Short-Term Debt	$104M
Deferred Revenue	$0
Other Current Liabilities	-$104M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$821M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$1.1B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$10.6B
Common Stock	$393M
Additional Paid-In Capital	$1.1B
Retained Earnings	$3.9B
Treasury Stock	-$1.2B
Accum. Other Comp. Income	$901M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.1B
Minority Interest	$0
TOTAL EQUITY	$5.1B
TOTAL LIABILITIES & EQUITY	$15.6B
Total Debt	$925M
Net Debt	$487M