RLI FY 2015 Earnings Report — RLI Corp. Revenue & Financial Results | Market Cap Arena

FY 2015 Earnings

Reported February 26, 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	$796M	—	$777M	—	2.5%
Op. Income	$197M	—	$189M	—	3.8%
Gross Margin	39.0%	—	38.2%	—	0.8pp
Net Margin	17.3%	—	17.4%	—	-0.2pp
EPS (Diluted)	$1.56	—	$1.54	—	1.0%
Free Cash Flow	$143M	—	$116M	—	22.9%

Revenue Flow

Item	Amount
REVENUE	$796M
Cost of Revenue	$486M
GROSS PROFIT	$310M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$10M
SG&A Expenses	$10M
Other Expenses	$104M
Operating Expenses	$114M
Cost & Expenses	$600M
OPERATING INCOME	$197M
Interest Income	$0
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$197M
Income Tax Expense	$59M
Net Income from Continuing Ops	$138M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$138M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$138M
D&A	$5M
EBIT	$204M
EBITDA	$210M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$796M
Cost of Revenue	$486M
GROSS PROFIT	$310M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$10M
SG&A Expenses	$10M
Other Expenses	$104M
Operating Expenses	$114M
Cost & Expenses	$600M
OPERATING INCOME	$197M
Interest Income	$0
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$197M
Income Tax Expense	$59M
Net Income from Continuing Ops	$138M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$138M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$138M
D&A	$5M
EBIT	$204M
EBITDA	$210M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$138M
Depreciation & Amortization	$5M
Stock-Based Compensation	$4M
Deferred Income Tax	$0
Other Non-Cash Items	-$16M
Change in Working Capital	$22M
OPERATING CASH FLOW	$153M
Capital Expenditure	-$10M
Acquisitions (Net)	$6M
Purchases of Investments	-$705M
Sales/Maturities of Investments	$653M
Other Investing Activities	-$4M
NET CASH FROM INVESTING	-$61M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$120M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$112M
FREE CASH FLOW	$143M
Net Change in Cash	-$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$17M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$1.9B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.0B
PP&E (Net)	$47M
Goodwill	$58M
Intangible Assets	$13M
Long-Term Investments	$2.0B
Tax Assets	$64M
Other Non-Current Assets	-$1.4B
TOTAL NON-CURRENT ASSETS	$759M
TOTAL ASSETS	$2.7B
Account Payables	$38M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$93M
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$149M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$64M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$149M
TOTAL LIABILITIES	$1.9B
Common Stock	$66M
Additional Paid-In Capital	$221M
Retained Earnings	$805M
Treasury Stock	-$404M
Accum. Other Comp. Income	$124M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$823M
Minority Interest	$0
TOTAL EQUITY	$823M
TOTAL LIABILITIES & EQUITY	$2.7B
Total Debt	$150M
Net Debt	$132M