RZB FY 2020 Earnings Report — Reinsurance Group of America, Incorporated Revenue & Financial Results | Market Cap Arena

Reinsurance Group of America, IncorporatedRZB

FY 2020 Earnings

Reported February 26, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$14.6B	—	$14.3B	—	2.0%
Op. Income	$740M	—	$1.3B	—	-44.5%
Gross Margin	94.4%	—	93.9%	—	0.5pp
Net Margin	2.8%	—	6.1%	—	-3.2pp
EPS (Diluted)	$6.31	—	$13.88	—	-54.5%
Free Cash Flow	$3.3B	—	$2.3B	—	44.9%

Revenue Flow

Item	Amount
REVENUE	$14.6B
Cost of Revenue	$816M
GROSS PROFIT	$13.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$12M
Other Expenses	$2.1B
Operating Expenses	$2.1B
Cost & Expenses	$13.9B
OPERATING INCOME	$740M
Interest Income	$170M
Interest Expense	$183M
Other Income/Expenses	$0
INCOME BEFORE TAX	$553M
Income Tax Expense	$138M
Net Income from Continuing Ops	$415M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$415M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$415M
D&A	$49M
EBIT	-$2.1B
EBITDA	$785M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$14.6B
Cost of Revenue	$816M
GROSS PROFIT	$13.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$12M
Other Expenses	$2.1B
Operating Expenses	$2.1B
Cost & Expenses	$13.9B
OPERATING INCOME	$740M
Interest Income	$170M
Interest Expense	$183M
Other Income/Expenses	$0
INCOME BEFORE TAX	$553M
Income Tax Expense	$138M
Net Income from Continuing Ops	$415M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$415M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$415M
D&A	$49M
EBIT	-$2.1B
EBITDA	$785M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$415M
Depreciation & Amortization	$589M
Stock-Based Compensation	-$12M
Deferred Income Tax	$0
Other Non-Cash Items	-$655M
Change in Working Capital	$3.0B
OPERATING CASH FLOW	$3.3B
Capital Expenditure	-$28M
Acquisitions (Net)	-$315M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$2.3B
NET CASH FROM INVESTING	-$2.7B
Net Debt Issuance	$381M
Common Stock Repurchased	-$163M
Common Dividends Paid	-$182M
Other Financing Activities	$1.2B
NET CASH FROM FINANCING	$1.3B
FREE CASH FLOW	$3.3B
Net Change in Cash	$2.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$3.4B
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$4.9B
TOTAL CURRENT ASSETS	$8.3B
PP&E (Net)	$291M
Goodwill	$7M
Intangible Assets	$3.8B
Long-Term Investments	$7.0B
Tax Assets	$3.3B
Other Non-Current Assets	$60.9B
TOTAL NON-CURRENT ASSETS	$75.3B
TOTAL ASSETS	$83.7B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$3.3B
Other Current Liabilities	-$3.6B
TOTAL CURRENT LIABILITIES	-$385M
Long-Term Debt	$4.0B
Deferred Revenue NC	$60.5B
Deferred Tax Liabilities	$3.3B
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$69.7B
TOTAL LIABILITIES	$69.3B
Common Stock	$1M
Additional Paid-In Capital	$2.4B
Retained Earnings	$8.1B
Treasury Stock	-$1.6B
Accum. Other Comp. Income	$5.4B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$14.4B
Minority Interest	$0
TOTAL EQUITY	$14.4B
TOTAL LIABILITIES & EQUITY	$83.7B
Total Debt	$4.0B
Net Debt	$553M