RGA FY 2015 Earnings Report — Reinsurance Group of America, Incorporated Revenue & Financial Results | Market Cap Arena

Reinsurance Group of America, IncorporatedRGA

FY 2015 Earnings

Reported February 29, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$10.4B	—	$10.9B	—	-4.5%
Op. Income	$745M	—	$1.0B	—	-26.2%
Gross Margin	14.1%	—	15.2%	—	-1.1pp
Net Margin	4.8%	—	6.3%	—	-1.5pp
EPS (Diluted)	$7.46	—	$9.78	—	-23.7%
Free Cash Flow	$2.1B	—	$2.2B	—	-8.1%

Revenue Flow

Item	Amount
REVENUE	$10.4B
Cost of Revenue	$9.0B
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$720M
Operating Expenses	$720M
Cost & Expenses	$9.7B
OPERATING INCOME	$745M
Interest Income	$343M
Interest Expense	$143M
Other Income/Expenses	$0
INCOME BEFORE TAX	$745M
Income Tax Expense	$243M
Net Income from Continuing Ops	$502M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$502M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$502M
D&A	$31M
EBIT	$888M
EBITDA	$919M
EPS	$8
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$10.4B
Cost of Revenue	$9.0B
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$720M
Operating Expenses	$720M
Cost & Expenses	$9.7B
OPERATING INCOME	$745M
Interest Income	$343M
Interest Expense	$143M
Other Income/Expenses	$0
INCOME BEFORE TAX	$745M
Income Tax Expense	$243M
Net Income from Continuing Ops	$502M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$502M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$502M
D&A	$31M
EBIT	$888M
EBITDA	$919M
EPS	$8
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$502M
Depreciation & Amortization	$31M
Stock-Based Compensation	$0
Deferred Income Tax	$149M
Other Non-Cash Items	-$13M
Change in Working Capital	$1.4B
OPERATING CASH FLOW	$2.1B
Capital Expenditure	-$24M
Acquisitions (Net)	-$145M
Purchases of Investments	-$6.2B
Sales/Maturities of Investments	$6.1B
Other Investing Activities	-$1.1B
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	$142M
Common Stock Repurchased	-$385M
Common Dividends Paid	-$93M
Other Financing Activities	-$372M
NET CASH FROM FINANCING	-$708M
FREE CASH FLOW	$2.1B
Net Change in Cash	-$120M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.5B
Short-Term Investments	$0
Net Receivables	$1.8B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.3B
PP&E (Net)	$171M
Goodwill	$7M
Intangible Assets	$171M
Long-Term Investments	$42.0B
Tax Assets	$2.2B
Other Non-Current Assets	$4.7B
TOTAL NON-CURRENT ASSETS	$47.1B
TOTAL ASSETS	$50.4B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$3.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2.2B
Other Non-Current Liabilities	$38.8B
TOTAL NON-CURRENT LIABILITIES	$44.2B
TOTAL LIABILITIES	$44.2B
Common Stock	$791.0K
Additional Paid-In Capital	$1.8B
Retained Earnings	$4.6B
Treasury Stock	-$1.0B
Accum. Other Comp. Income	$708M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.1B
Minority Interest	$0
TOTAL EQUITY	$6.1B
TOTAL LIABILITIES & EQUITY	$50.4B
Total Debt	$3.2B
Net Debt	$1.7B