RZB FY 2016 Earnings Report — Reinsurance Group of America, Incorporated Revenue & Financial Results | Market Cap Arena

Reinsurance Group of America, IncorporatedRZB

FY 2016 Earnings

Reported February 28, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$11.5B	—	$10.4B	—	10.6%
Op. Income	$1.2B	—	$910M	—	32.6%
Gross Margin	100.0%	—	100.0%	—	-0.0pp
Net Margin	6.1%	—	4.8%	—	1.3pp
EPS (Diluted)	$10.79	—	$7.46	—	44.6%
Free Cash Flow	$1.4B	—	$2.1B	—	-31.2%

Revenue Flow

Item	Amount
REVENUE	$11.5B
Cost of Revenue	$645.5K
GROSS PROFIT	$11.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$33M
Other Expenses	-$2.0B
Operating Expenses	$2.0B
Cost & Expenses	-$10.3B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$137.6K
Other Income/Expenses	-$8.5B
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$343M
Net Income from Continuing Ops	$701M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$701M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$701M
D&A	$27M
EBIT	-$880M
EBITDA	$1.2B
EPS	$11
EPS Diluted	$11

Income Statement

Item	Amount
REVENUE	$11.5B
Cost of Revenue	$645.5K
GROSS PROFIT	$11.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$33M
Other Expenses	-$2.0B
Operating Expenses	$2.0B
Cost & Expenses	-$10.3B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$137.6K
Other Income/Expenses	-$8.5B
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$343M
Net Income from Continuing Ops	$701M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$701M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$701M
D&A	$27M
EBIT	-$880M
EBITDA	$1.2B
EPS	$11
EPS Diluted	$11

Cash Flow Statement

Item	Amount
Net Income	$701M
Depreciation & Amortization	$27M
Stock-Based Compensation	$33M
Deferred Income Tax	$294M
Other Non-Cash Items	$190M
Change in Working Capital	$601M
OPERATING CASH FLOW	$1.5B
Capital Expenditure	-$45M
Acquisitions (Net)	$0
Purchases of Investments	-$9.2B
Sales/Maturities of Investments	$6.5B
Other Investing Activities	-$98M
NET CASH FROM INVESTING	-$2.8B
Net Debt Issuance	$733M
Common Stock Repurchased	-$123M
Common Dividends Paid	-$100M
Other Financing Activities	$530M
NET CASH FROM FINANCING	$1.1B
FREE CASH FLOW	$1.4B
Net Change in Cash	-$325M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.2B
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$4.4B
TOTAL CURRENT ASSETS	$4.4B
PP&E (Net)	$301M
Goodwill	$7M
Intangible Assets	$3.5B
Long-Term Investments	$7.0B
Tax Assets	$2.8B
Other Non-Current Assets	$34.4B
TOTAL NON-CURRENT ASSETS	$48.1B
TOTAL ASSETS	$52.4B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$389M
TOTAL CURRENT LIABILITIES	-$295M
Long-Term Debt	$3.9B
Deferred Revenue NC	$37.5B
Deferred Tax Liabilities	$2.8B
Other Non-Current Liabilities	$38.9B
TOTAL NON-CURRENT LIABILITIES	$45.6B
TOTAL LIABILITIES	$45.3B
Common Stock	$791.0K
Additional Paid-In Capital	$1.8B
Retained Earnings	$5.2B
Treasury Stock	-$1.1B
Accum. Other Comp. Income	$1.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.1B
Minority Interest	$0
TOTAL EQUITY	$7.1B
TOTAL LIABILITIES & EQUITY	$52.4B
Total Debt	$3.9B
Net Debt	$2.7B