FAF FY 2010 Earnings Report — First American Financial Corporation Revenue & Financial Results | Market Cap Arena

First American Financial CorporationFAF

FY 2010 Earnings

Reported March 1, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$3.9B	—	—	—	—
Op. Income	$212M	—	—	—	—
Gross Margin	60.5%	—	—	—	—
Net Margin	3.3%	—	—	—	—
EPS (Diluted)	$1.20	—	—	—	—
Free Cash Flow	$67M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$3.9B
Cost of Revenue	$1.5B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$1.2B
General & Administrative	$1.2B
SG&A Expenses	$1.2B
Other Expenses	$945M
Operating Expenses	$2.2B
Cost & Expenses	$3.7B
OPERATING INCOME	$212M
Interest Income	$0
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$212M
Income Tax Expense	$83M
Net Income from Continuing Ops	$129M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$128M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$127M
D&A	$81M
EBIT	$227M
EBITDA	$308M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.9B
Cost of Revenue	$1.5B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$1.2B
General & Administrative	$1.2B
SG&A Expenses	$1.2B
Other Expenses	$945M
Operating Expenses	$2.2B
Cost & Expenses	$3.7B
OPERATING INCOME	$212M
Interest Income	$0
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$212M
Income Tax Expense	$83M
Net Income from Continuing Ops	$129M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$128M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$127M
D&A	$81M
EBIT	$227M
EBITDA	$308M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$129M
Depreciation & Amortization	$79M
Stock-Based Compensation	$15M
Deferred Income Tax	-$10M
Other Non-Cash Items	$329M
Change in Working Capital	-$386M
OPERATING CASH FLOW	$156M
Capital Expenditure	-$89M
Acquisitions (Net)	-$16M
Purchases of Investments	-$1.5B
Sales/Maturities of Investments	$1.3B
Other Investing Activities	$45M
NET CASH FROM INVESTING	-$279M
Net Debt Issuance	$32M
Common Stock Repurchased	$243M
Common Dividends Paid	-$13M
Other Financing Activities	$331M
NET CASH FROM FINANCING	$221M
FREE CASH FLOW	$67M
Net Change in Cash	$97M

Balance Sheet

Item	Amount
Cash & Equivalents	$729M
Short-Term Investments	$0
Net Receivables	$235M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$963M
PP&E (Net)	$346M
Goodwill	$812M
Intangible Assets	$70M
Long-Term Investments	$2.4B
Tax Assets	$97M
Other Non-Current Assets	-$2.4B
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$5.8B
Account Payables	$33M
Short-Term Debt	$0
Deferred Revenue	$145M
Other Current Liabilities	-$378M
TOTAL CURRENT LIABILITIES	$178M
Long-Term Debt	$294M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$294M
TOTAL NON-CURRENT LIABILITIES	$130M
TOTAL LIABILITIES	$3.8B
Common Stock	$1.0K
Additional Paid-In Capital	$2.1B
Retained Earnings	$72M
Treasury Stock	$0
Accum. Other Comp. Income	-$149M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$14M
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$5.8B
Total Debt	$294M
Net Debt	-$435M