EG FY 2013 Earnings Report — Everest Re Group, Ltd. Revenue & Financial Results | Market Cap Arena

Everest Re Group, Ltd.EG

FY 2013 Earnings

Reported December 31, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$5.6B	—	$4.9B	—	14.6%
Op. Income	$1.6B	—	$940M	—	65.5%
Gross Margin	33.0%	—	24.9%	—	8.1pp
Net Margin	22.3%	—	16.8%	—	5.5pp
EPS (Diluted)	$25.44	—	$15.79	—	61.1%
Free Cash Flow	$1.1B	—	$695M	—	58.1%

Revenue Flow

Item	Amount
REVENUE	$5.6B
Cost of Revenue	$3.8B
GROSS PROFIT	$1.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$25M
SG&A Expenses	$25M
Other Expenses	$283M
Operating Expenses	$308M
Cost & Expenses	$4.1B
OPERATING INCOME	$1.6B
Interest Income	$0
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$290M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$0
EBIT	$1.6B
EBITDA	$1.6B
EPS	$26
EPS Diluted	$25

Income Statement

Item	Amount
REVENUE	$5.6B
Cost of Revenue	$3.8B
GROSS PROFIT	$1.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$25M
SG&A Expenses	$25M
Other Expenses	$283M
Operating Expenses	$308M
Cost & Expenses	$4.1B
OPERATING INCOME	$1.6B
Interest Income	$0
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$290M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$0
EBIT	$1.6B
EBITDA	$1.6B
EPS	$26
EPS Diluted	$25

Cash Flow Statement

Item	Amount
Net Income	$1.3B
Depreciation & Amortization	$0
Stock-Based Compensation	$32M
Deferred Income Tax	-$6M
Other Non-Cash Items	-$177M
Change in Working Capital	-$22M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$4.6B
Sales/Maturities of Investments	$4.3B
Other Investing Activities	$75M
NET CASH FROM INVESTING	-$224M
Net Debt Issuance	-$330M
Common Stock Repurchased	-$622M
Common Dividends Paid	-$107M
Other Financing Activities	$231M
NET CASH FROM FINANCING	-$776M
FREE CASH FLOW	$1.1B
Net Change in Cash	$74M

Balance Sheet

Item	Amount
Cash & Equivalents	$611M
Short-Term Investments	$15.5B
Net Receivables	$2.2B
Inventory	$0
Other Current Assets	-$18.3B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$15.5B
Tax Assets	$0
Other Non-Current Assets	-$15.5B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$19.8B
Account Payables	$116M
Short-Term Debt	$250M
Deferred Revenue	$0
Other Current Liabilities	-$425M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$488M
Deferred Revenue NC	-$333M
Deferred Tax Liabilities	$146M
Other Non-Current Liabilities	-$488M
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$12.8B
Common Stock	$680.0K
Additional Paid-In Capital	$2.0B
Retained Earnings	$6.8B
Treasury Stock	-$2.0B
Accum. Other Comp. Income	$158M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.0B
Minority Interest	$93M
TOTAL EQUITY	$7.0B
TOTAL LIABILITIES & EQUITY	$19.8B
Total Debt	$738M
Net Debt	$127M