RNR FY 2007 Earnings Report — RenaissanceRe Holdings Ltd. Revenue & Financial Results | Market Cap Arena

RenaissanceRe Holdings Ltd.RNR

FY 2007 Earnings

Reported February 21, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$1.7B	—	$1.8B	—	-9.5%
Op. Income	$594M	—	$798M	—	-25.6%
Gross Margin	55.9%	—	60.5%	—	-4.6pp
Net Margin	36.8%	—	43.3%	—	-6.5pp
EPS (Diluted)	$7.93	—	$10.57	—	-25.0%
Free Cash Flow	$793M	—	$813M	—	-2.5%

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$734M
GROSS PROFIT	$931M
R&D Expenses	$0
Selling & Marketing	$110M
General & Administrative	$29M
SG&A Expenses	$139M
Other Expenses	$198M
Operating Expenses	$337M
Cost & Expenses	$1.1B
OPERATING INCOME	$594M
Interest Income	$0
Interest Expense	$34M
Other Income/Expenses	$0
INCOME BEFORE TAX	$594M
Income Tax Expense	-$18M
Net Income from Continuing Ops	$612M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$612M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$570M
D&A	-$20M
EBIT	$628M
EBITDA	$608M
EPS	$8
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$734M
GROSS PROFIT	$931M
R&D Expenses	$0
Selling & Marketing	$110M
General & Administrative	$29M
SG&A Expenses	$139M
Other Expenses	$198M
Operating Expenses	$337M
Cost & Expenses	$1.1B
OPERATING INCOME	$594M
Interest Income	$0
Interest Expense	$34M
Other Income/Expenses	$0
INCOME BEFORE TAX	$594M
Income Tax Expense	-$18M
Net Income from Continuing Ops	$612M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$612M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$570M
D&A	-$20M
EBIT	$628M
EBITDA	$608M
EPS	$8
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$612M
Depreciation & Amortization	-$20M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$251M
Change in Working Capital	-$50M
OPERATING CASH FLOW	$793M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$4.8B
Sales/Maturities of Investments	$4.9B
Other Investing Activities	-$254M
NET CASH FROM INVESTING	-$169M
Net Debt Issuance	$2M
Common Stock Repurchased	-$200M
Common Dividends Paid	-$63M
Other Financing Activities	-$54M
NET CASH FROM FINANCING	-$508M
FREE CASH FLOW	$793M
Net Change in Cash	$116M

Balance Sheet

Item	Amount
Cash & Equivalents	$330M
Short-Term Investments	$1.8B
Net Receivables	$619M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.8B
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$5.7B
Tax Assets	$0
Other Non-Current Assets	-$5.7B
TOTAL NON-CURRENT ASSETS	$5.7B
TOTAL ASSETS	$8.3B
Account Payables	$275M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$698M
TOTAL CURRENT LIABILITIES	$4.4B
Long-Term Debt	$452M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$452M
TOTAL NON-CURRENT LIABILITIES	$452M
TOTAL LIABILITIES	$4.0B
Common Stock	$69M
Additional Paid-In Capital	$108M
Retained Earnings	$2.6B
Treasury Stock	$0
Accum. Other Comp. Income	$45M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.5B
Minority Interest	$815M
TOTAL EQUITY	$4.3B
TOTAL LIABILITIES & EQUITY	$8.3B
Total Debt	$452M
Net Debt	$122M