CINF FY 2012 Earnings Report — Cincinnati Financial Corporation Revenue & Financial Results | Market Cap Arena

Cincinnati Financial CorporationCINF

FY 2012 Earnings

Reported February 27, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$4.1B	—	$3.8B	—	8.1%
Op. Income	$566M	—	$173M	—	227.2%
Gross Margin	43.5%	—	33.6%	—	9.9pp
Net Margin	10.2%	—	4.3%	—	5.9pp
EPS (Diluted)	$2.57	—	$1.02	—	152.0%
Free Cash Flow	$632M	—	$240M	—	163.3%

Revenue Flow

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$2.3B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.2B
Operating Expenses	$1.2B
Cost & Expenses	$3.5B
OPERATING INCOME	$566M
Interest Income	$0
Interest Expense	$54M
Other Income/Expenses	$0
INCOME BEFORE TAX	$566M
Income Tax Expense	$145M
NET INCOME	$421M
D&A	$44M
EBIT	$620M
EBITDA	$664M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$2.3B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.2B
Operating Expenses	$1.2B
Cost & Expenses	$3.5B
OPERATING INCOME	$566M
Interest Income	$0
Interest Expense	$54M
Other Income/Expenses	$0
INCOME BEFORE TAX	$566M
Income Tax Expense	$145M
NET INCOME	$421M
D&A	$44M
EBIT	$620M
EBITDA	$664M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$421M
Depreciation & Amortization	$44M
Stock-Based Compensation	$16M
Deferred Income Tax	$26M
Other Non-Cash Items	$2M
Change in Working Capital	$129M
OPERATING CASH FLOW	$638M
Capital Expenditure	-$6M
Acquisitions (Net)	$0
Purchases of Investments	-$1.6B
Sales/Maturities of Investments	$1.3B
Other Investing Activities	$1M
NET CASH FROM INVESTING	-$304M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$256M
Other Financing Activities	-$29M
NET CASH FROM FINANCING	-$285M
FREE CASH FLOW	$632M
Net Change in Cash	$49M

Balance Sheet

Item	Amount
Cash & Equivalents	$487M
Short-Term Investments	$0
Net Receivables	$2.0B
Inventory	$0
Other Current Assets	-$11.6B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$217M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$12.5B
Tax Assets	$0
Other Non-Current Assets	-$12.7B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$16.5B
Account Payables	$0
Short-Term Debt	$104M
Deferred Revenue	$0
Other Current Liabilities	-$104M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$827M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$1.3B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$11.1B
Common Stock	$394M
Additional Paid-In Capital	$1.1B
Retained Earnings	$4.0B
Treasury Stock	-$1.2B
Accum. Other Comp. Income	$1.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.5B
Minority Interest	$0
TOTAL EQUITY	$5.5B
TOTAL LIABILITIES & EQUITY	$16.5B
Total Debt	$968M
Net Debt	$481M