CNA FY 2014 Earnings Report — CNA Financial Corporation Revenue & Financial Results | Market Cap Arena

CNA Financial CorporationCNA

FY 2014 Earnings

Reported February 23, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$9.7B	—	$9.9B	—	-2.4%
Op. Income	$1.2B	—	$1.3B	—	-5.4%
Gross Margin	28.7%	—	27.8%	—	0.9pp
Net Margin	7.1%	—	9.4%	—	-2.3pp
EPS (Diluted)	$2.55	—	$3.47	—	-26.5%
Free Cash Flow	$1.4B	—	$1.1B	—	23.0%

Revenue Flow

Item	Amount
REVENUE	$9.7B
Cost of Revenue	$6.9B
GROSS PROFIT	$2.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.6B
Operating Expenses	$1.6B
Cost & Expenses	$8.5B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$183M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$319M
Net Income from Continuing Ops	$888M
Net Income from Discontinued Ops	-$197M
Other Adjustments	$0
NET INCOME	$691M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$691M
D&A	$83M
EBIT	$1.4B
EBITDA	$1.5B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$9.7B
Cost of Revenue	$6.9B
GROSS PROFIT	$2.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.6B
Operating Expenses	$1.6B
Cost & Expenses	$8.5B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$183M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$319M
Net Income from Continuing Ops	$888M
Net Income from Discontinued Ops	-$197M
Other Adjustments	$0
NET INCOME	$691M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$691M
D&A	$83M
EBIT	$1.4B
EBITDA	$1.5B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$691M
Depreciation & Amortization	$83M
Stock-Based Compensation	$11M
Deferred Income Tax	$3M
Other Non-Cash Items	$57M
Change in Working Capital	$316M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$71M
Acquisitions (Net)	$94M
Purchases of Investments	-$9.8B
Sales/Maturities of Investments	$8.9B
Other Investing Activities	-$64M
NET CASH FROM INVESTING	-$918M
Net Debt Issuance	-$3M
Common Stock Repurchased	$0
Common Dividends Paid	-$541M
Other Financing Activities	$25M
NET CASH FROM FINANCING	-$519M
FREE CASH FLOW	$1.4B
Net Change in Cash	-$5M

Balance Sheet

Item	Amount
Cash & Equivalents	$190M
Short-Term Investments	$1.7B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.8B
PP&E (Net)	$295M
Goodwill	$152M
Intangible Assets	$85M
Long-Term Investments	$45.6B
Tax Assets	$191M
Other Non-Current Assets	$5.4B
TOTAL NON-CURRENT ASSETS	$51.7B
TOTAL ASSETS	$55.6B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$18.8B
TOTAL CURRENT LIABILITIES	$40.2B
Long-Term Debt	$2.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$40.1B
TOTAL NON-CURRENT LIABILITIES	$2.6B
TOTAL LIABILITIES	$42.8B
Common Stock	$683M
Additional Paid-In Capital	$2.2B
Retained Earnings	$9.6B
Treasury Stock	-$84M
Accum. Other Comp. Income	$400M
Other Equity	-$1M
TOTAL STOCKHOLDERS' EQUITY	$12.8B
Minority Interest	$0
TOTAL EQUITY	$12.8B
TOTAL LIABILITIES & EQUITY	$55.6B
Total Debt	$2.6B
Net Debt	$2.4B