RGA FY 2017 Earnings Report — Reinsurance Group of America, Incorporated Revenue & Financial Results | Market Cap Arena

Reinsurance Group of America, IncorporatedRGA

FY 2017 Earnings

Reported February 27, 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	$12.5B	—	$11.5B	—	8.6%
Op. Income	$1.1B	—	$1.0B	—	9.5%
Gross Margin	16.2%	—	16.1%	—	0.1pp
Net Margin	14.6%	—	6.1%	—	8.5pp
EPS (Diluted)	$27.71	—	$10.79	—	156.8%
Free Cash Flow	$1.9B	—	$1.4B	—	36.4%

Revenue Flow

Item	Amount
REVENUE	$12.5B
Cost of Revenue	$10.5B
GROSS PROFIT	$2.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$885M
Operating Expenses	$885M
Cost & Expenses	$11.4B
OPERATING INCOME	$1.1B
Interest Income	$465M
Interest Expense	$146M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	-$679M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$53M
EBIT	$1.3B
EBITDA	$1.3B
EPS	$28
EPS Diluted	$28

Income Statement

Item	Amount
REVENUE	$12.5B
Cost of Revenue	$10.5B
GROSS PROFIT	$2.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$885M
Operating Expenses	$885M
Cost & Expenses	$11.4B
OPERATING INCOME	$1.1B
Interest Income	$465M
Interest Expense	$146M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	-$679M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$53M
EBIT	$1.3B
EBITDA	$1.3B
EPS	$28
EPS Diluted	$28

Cash Flow Statement

Item	Amount
Net Income	$1.8B
Depreciation & Amortization	$53M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$249M
Change in Working Capital	$356M
OPERATING CASH FLOW	$2.0B
Capital Expenditure	-$44M
Acquisitions (Net)	$0
Purchases of Investments	-$8.9B
Sales/Maturities of Investments	$8.0B
Other Investing Activities	-$657M
NET CASH FROM INVESTING	-$1.6B
Net Debt Issuance	-$371M
Common Stock Repurchased	-$44M
Common Dividends Paid	-$117M
Other Financing Activities	$208M
NET CASH FROM FINANCING	-$325M
FREE CASH FLOW	$1.9B
Net Change in Cash	$103M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$0
Net Receivables	$2.3B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.6B
PP&E (Net)	$302M
Goodwill	$7M
Intangible Assets	$198M
Long-Term Investments	$51.7B
Tax Assets	$0
Other Non-Current Assets	$4.7B
TOTAL NON-CURRENT ASSETS	$56.9B
TOTAL ASSETS	$60.5B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$3.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2.2B
Other Non-Current Liabilities	$45.2B
TOTAL NON-CURRENT LIABILITIES	$50.9B
TOTAL LIABILITIES	$50.9B
Common Stock	$791.0K
Additional Paid-In Capital	$1.9B
Retained Earnings	$6.7B
Treasury Stock	-$1.1B
Accum. Other Comp. Income	$2.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$9.6B
Minority Interest	$0
TOTAL EQUITY	$9.6B
TOTAL LIABILITIES & EQUITY	$60.5B
Total Debt	$3.6B
Net Debt	$2.3B