ORI FY 2017 Earnings Report — Old Republic International Corporation Revenue & Financial Results | Market Cap Arena

Old Republic International CorporationORI

FY 2017 Earnings

Reported February 28, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$6.3B	—	$5.9B	—	6.1%
Op. Income	$725M	—	$686M	—	5.7%
Gross Margin	12.9%	—	12.8%	—	0.1pp
Net Margin	8.9%	—	7.9%	—	1.0pp
EPS (Diluted)	$1.92	—	$1.62	—	18.5%
Free Cash Flow	$453M	—	$637M	—	-29.0%

Revenue Flow

Item	Amount
REVENUE	$6.3B
Cost of Revenue	$5.5B
GROSS PROFIT	$808M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$83M
Operating Expenses	$83M
Cost & Expenses	$5.5B
OPERATING INCOME	$725M
Interest Income	$0
Interest Expense	$63M
Other Income/Expenses	$200.0K
INCOME BEFORE TAX	$725M
Income Tax Expense	$165M
Net Income from Continuing Ops	$561M
Net Income from Discontinued Ops	$0
Other Adjustments	-$100.0K
NET INCOME	$561M
Net Income Deductions	-$14M
BOTTOM LINE NET INCOME	$575M
D&A	$0
EBIT	$788M
EBITDA	$788M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$6.3B
Cost of Revenue	$5.5B
GROSS PROFIT	$808M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$83M
Operating Expenses	$83M
Cost & Expenses	$5.5B
OPERATING INCOME	$725M
Interest Income	$0
Interest Expense	$63M
Other Income/Expenses	$200.0K
INCOME BEFORE TAX	$725M
Income Tax Expense	$165M
Net Income from Continuing Ops	$561M
Net Income from Discontinued Ops	$0
Other Adjustments	-$100.0K
NET INCOME	$561M
Net Income Deductions	-$14M
BOTTOM LINE NET INCOME	$575M
D&A	$0
EBIT	$788M
EBITDA	$788M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$561M
Depreciation & Amortization	$27M
Stock-Based Compensation	$4M
Deferred Income Tax	$50M
Other Non-Cash Items	-$315M
Change in Working Capital	$127M
OPERATING CASH FLOW	$453M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$2.4B
Sales/Maturities of Investments	$2.2B
Other Investing Activities	-$24M
NET CASH FROM INVESTING	-$294M
Net Debt Issuance	-$4M
Common Stock Repurchased	$0
Common Dividends Paid	-$199M
Other Financing Activities	$6M
NET CASH FROM FINANCING	-$179M
FREE CASH FLOW	$453M
Net Change in Cash	-$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$10.1B
Short-Term Investments	$0
Net Receivables	$0
Inventory	-$18.0B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$293M
PP&E (Net)	$2.7B
Goodwill	$0
Intangible Assets	$298M
Long-Term Investments	$3.3B
Tax Assets	$255M
Other Non-Current Assets	-$3.3B
TOTAL NON-CURRENT ASSETS	$3.3B
TOTAL ASSETS	$19.4B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$554M
TOTAL CURRENT LIABILITIES	$10.3B
Long-Term Debt	$1.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$101M
Other Non-Current Liabilities	$13.2B
TOTAL NON-CURRENT LIABILITIES	$14.7B
TOTAL LIABILITIES	$14.7B
Common Stock	$269M
Additional Paid-In Capital	$815M
Retained Earnings	$3.2B
Treasury Stock	$0
Accum. Other Comp. Income	$474M
Other Equity	-$32M
TOTAL STOCKHOLDERS' EQUITY	$4.7B
Minority Interest	$0
TOTAL EQUITY	$4.7B
TOTAL LIABILITIES & EQUITY	$19.4B
Total Debt	$1.4B
Net Debt	-$8.7B