FAF FY 2012 Earnings Report — First American Financial Corporation Revenue & Financial Results | Market Cap Arena

First American Financial CorporationFAF

FY 2012 Earnings

Reported February 28, 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	$4.5B	—	$3.8B	—	18.9%
Op. Income	$467M	—	$130M	—	258.7%
Gross Margin	61.1%	—	57.7%	—	3.4pp
Net Margin	6.6%	—	2.0%	—	4.6pp
EPS (Diluted)	$2.77	—	$0.73	—	279.5%
Free Cash Flow	$346M	—	$64M	—	440.1%

Revenue Flow

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$1.8B
GROSS PROFIT	$2.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.3B
SG&A Expenses	$1.3B
Other Expenses	$972M
Operating Expenses	$2.3B
Cost & Expenses	$4.1B
OPERATING INCOME	$467M
Interest Income	$0
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$467M
Income Tax Expense	$166M
Net Income from Continuing Ops	$302M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$301M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$300M
D&A	$75M
EBIT	$476M
EBITDA	$551M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$1.8B
GROSS PROFIT	$2.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.3B
SG&A Expenses	$1.3B
Other Expenses	$972M
Operating Expenses	$2.3B
Cost & Expenses	$4.1B
OPERATING INCOME	$467M
Interest Income	$0
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$467M
Income Tax Expense	$166M
Net Income from Continuing Ops	$302M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$301M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$300M
D&A	$75M
EBIT	$476M
EBITDA	$551M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$302M
Depreciation & Amortization	$75M
Stock-Based Compensation	$15M
Deferred Income Tax	-$61M
Other Non-Cash Items	-$34M
Change in Working Capital	$134M
OPERATING CASH FLOW	$430M
Capital Expenditure	-$84M
Acquisitions (Net)	-$32M
Purchases of Investments	-$1.8B
Sales/Maturities of Investments	$1.5B
Other Investing Activities	$25M
NET CASH FROM INVESTING	-$435M
Net Debt Issuance	-$70M
Common Stock Repurchased	$0
Common Dividends Paid	-$45M
Other Financing Activities	$329M
NET CASH FROM FINANCING	$214M
FREE CASH FLOW	$346M
Net Change in Cash	$209M

Balance Sheet

Item	Amount
Cash & Equivalents	$698M
Short-Term Investments	$0
Net Receivables	$260M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$887M
PP&E (Net)	$343M
Goodwill	$846M
Intangible Assets	$57M
Long-Term Investments	$2.8B
Tax Assets	$37M
Other Non-Current Assets	-$2.8B
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$8.4B
Account Payables	$28M
Short-Term Debt	$0
Deferred Revenue	$171M
Other Current Liabilities	-$67M
TOTAL CURRENT LIABILITIES	$199M
Long-Term Debt	$221M
Deferred Revenue NC	$171M
Deferred Tax Liabilities	$37M
Other Non-Current Liabilities	-$429M
TOTAL NON-CURRENT LIABILITIES	$437M
TOTAL LIABILITIES	$6.1B
Common Stock	$1.0K
Additional Paid-In Capital	$2.1B
Retained Earnings	$387M
Treasury Stock	$0
Accum. Other Comp. Income	-$151M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$4M
TOTAL EQUITY	$2.4B
TOTAL LIABILITIES & EQUITY	$8.4B
Total Debt	$230M
Net Debt	-$469M