ORI FY 2016 Earnings Report — Old Republic International Corporation Revenue & Financial Results | Market Cap Arena

Old Republic International CorporationORI

FY 2016 Earnings

Reported February 28, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$5.9B	—	$5.8B	—	2.3%
Op. Income	$686M	—	$632M	—	8.6%
Gross Margin	12.8%	—	12.0%	—	0.8pp
Net Margin	7.9%	—	7.3%	—	0.6pp
EPS (Diluted)	$1.62	—	$1.48	—	9.5%
Free Cash Flow	$637M	—	$688M	—	-7.4%

Revenue Flow

Item	Amount
REVENUE	$5.9B
Cost of Revenue	$5.1B
GROSS PROFIT	$754M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$68M
Operating Expenses	$68M
Cost & Expenses	$5.2B
OPERATING INCOME	$686M
Interest Income	$0
Interest Expense	$50M
Other Income/Expenses	$200.0K
INCOME BEFORE TAX	$686M
Income Tax Expense	$219M
Net Income from Continuing Ops	$467M
Net Income from Discontinued Ops	$0
Other Adjustments	-$100.0K
NET INCOME	$467M
Net Income Deductions	-$15M
BOTTOM LINE NET INCOME	$482M
D&A	$0
EBIT	$736M
EBITDA	$736M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$5.9B
Cost of Revenue	$5.1B
GROSS PROFIT	$754M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$68M
Operating Expenses	$68M
Cost & Expenses	$5.2B
OPERATING INCOME	$686M
Interest Income	$0
Interest Expense	$50M
Other Income/Expenses	$200.0K
INCOME BEFORE TAX	$686M
Income Tax Expense	$219M
Net Income from Continuing Ops	$467M
Net Income from Discontinued Ops	$0
Other Adjustments	-$100.0K
NET INCOME	$467M
Net Income Deductions	-$15M
BOTTOM LINE NET INCOME	$482M
D&A	$0
EBIT	$736M
EBITDA	$736M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$467M
Depreciation & Amortization	$0
Stock-Based Compensation	$3M
Deferred Income Tax	$41M
Other Non-Cash Items	-$132M
Change in Working Capital	$261M
OPERATING CASH FLOW	$637M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$2.7B
Sales/Maturities of Investments	$1.7B
Other Investing Activities	$9M
NET CASH FROM INVESTING	-$1.0B
Net Debt Issuance	$573M
Common Stock Repurchased	$0
Common Dividends Paid	-$194M
Other Financing Activities	-$3M
NET CASH FROM FINANCING	$385M
FREE CASH FLOW	$637M
Net Change in Cash	-$14M

Balance Sheet

Item	Amount
Cash & Equivalents	$10.0B
Short-Term Investments	$0
Net Receivables	$0
Inventory	-$17.6B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$224M
PP&E (Net)	$3.2B
Goodwill	$0
Intangible Assets	$274M
Long-Term Investments	$2.9B
Tax Assets	-$530M
Other Non-Current Assets	-$2.9B
TOTAL NON-CURRENT ASSETS	$2.9B
TOTAL ASSETS	$18.6B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$485M
TOTAL CURRENT LIABILITIES	$10.1B
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$43M
Other Non-Current Liabilities	$12.6B
TOTAL NON-CURRENT LIABILITIES	$14.1B
TOTAL LIABILITIES	$14.1B
Common Stock	$263M
Additional Paid-In Capital	$714M
Retained Earnings	$3.2B
Treasury Stock	$0
Accum. Other Comp. Income	$324M
Other Equity	-$39M
TOTAL STOCKHOLDERS' EQUITY	$4.5B
Minority Interest	$0
TOTAL EQUITY	$4.5B
TOTAL LIABILITIES & EQUITY	$18.6B
Total Debt	$1.5B
Net Debt	-$8.4B