MGR FY 2013 Earnings Report — Affiliated Managers Group, Inc. Revenue & Financial Results | Market Cap Arena

Affiliated Managers Group, Inc.MGR

FY 2013 Earnings

Reported February 27, 2014

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	$2.2B	—	$1.8B	—	21.2%
Op. Income	$634M	—	$503M	—	26.2%
Gross Margin	56.7%	—	56.5%	—	0.2pp
Net Margin	16.5%	—	9.6%	—	6.8pp
EPS (Diluted)	$6.36	—	$3.28	—	93.9%
Free Cash Flow	$933M	—	$613M	—	52.2%

Revenue Flow

Item	Amount
REVENUE	$2.2B
Cost of Revenue	$948M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$427M
Other Expenses	$0
Operating Expenses	$427M
Cost & Expenses	$1.3B
OPERATING INCOME	$634M
Interest Income	$0
Interest Expense	$87M
Other Income/Expenses	$230M
INCOME BEFORE TAX	$864M
Income Tax Expense	$194M
Net Income from Continuing Ops	$670M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$361M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$361M
D&A	$142M
EBIT	$634M
EBITDA	$776M
EPS	$7
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$2.2B
Cost of Revenue	$948M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$427M
Other Expenses	$0
Operating Expenses	$427M
Cost & Expenses	$1.3B
OPERATING INCOME	$634M
Interest Income	$0
Interest Expense	$87M
Other Income/Expenses	$230M
INCOME BEFORE TAX	$864M
Income Tax Expense	$194M
Net Income from Continuing Ops	$670M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$361M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$361M
D&A	$142M
EBIT	$634M
EBITDA	$776M
EPS	$7
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$361M
Depreciation & Amortization	$142M
Stock-Based Compensation	$100M
Deferred Income Tax	$28M
Other Non-Cash Items	$469M
Change in Working Capital	-$115M
OPERATING CASH FLOW	$957M
Capital Expenditure	-$24M
Acquisitions (Net)	$0
Purchases of Investments	-$11M
Sales/Maturities of Investments	$11M
Other Investing Activities	-$26M
NET CASH FROM INVESTING	-$50M
Net Debt Issuance	-$482M
Common Stock Repurchased	-$16M
Common Dividends Paid	$0
Other Financing Activities	-$371M
NET CASH FROM FINANCING	-$869M
FREE CASH FLOW	$933M
Net Change in Cash	$39M

Balance Sheet

Item	Amount
Cash & Equivalents	$470M
Short-Term Investments	$158M
Net Receivables	$418M
Inventory	$0
Other Current Assets	$22M
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$92M
Goodwill	$2.3B
Intangible Assets	$1.5B
Long-Term Investments	$1.3B
Tax Assets	$457M
Other Non-Current Assets	-$388M
TOTAL NON-CURRENT ASSETS	$5.3B
TOTAL ASSETS	$6.3B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$73M
TOTAL CURRENT LIABILITIES	$318M
Long-Term Debt	$1.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$828M
TOTAL NON-CURRENT LIABILITIES	$2.2B
TOTAL LIABILITIES	$2.5B
Common Stock	$500.0K
Additional Paid-In Capital	$480M
Retained Earnings	$1.7B
Treasury Stock	-$131M
Accum. Other Comp. Income	$74M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.1B
Minority Interest	$1.7B
TOTAL EQUITY	$3.8B
TOTAL LIABILITIES & EQUITY	$6.3B
Total Debt	$1.4B
Net Debt	$917M