Aflac (AFL) FY2015 results: revenue $20.9 billion, down 8.2% on the year
Aflac Inc. (AFL) reported revenue of $20.9 billion for fiscal 2015, the year ended 31 December 2015, down 8.2% on the year before. Net income was $2.5 billion, down 14.2%, and diluted earnings per share $2.92. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2016.
Revenue
$20.9 billion
-8.2% on the year
FY2008FY2015
Operating margin
19.2%
18.7% a year earlier
FY2008FY2015
Net income
$2.5 billion
-14.2% on the year
FY2008FY2015
Diluted EPS
$2.92
-10.0% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
20,872
22,728
23,939
-8.2%
Selling, general and administrative
2,606
2,261
2,222
+15.3%
Operating income
4,001
4,253
4,399
-5.9%
Operating margin
19.2%
18.7%
18.4%
Interest expense
289
317
293
-8.8%
Pre-tax income
3,862
4,491
4,816
-14.0%
Income tax
1,329
1,540
1,658
-13.7%
Effective tax rate
34.4%
34.3%
34.4%
Net income
2,533
2,951
3,158
-14.2%
Net margin
12.1%
13.0%
13.2%
Diluted EPS
$2.92
$3.25
$3.38
-10.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
6,776
6,550
10,547
+3.5%
Cash from investing
-4,897
-4,241
-11,091
Cash from financing
-2,187
-147
1,136
Depreciation and amortisation
50.0
55.0
69.0
-9.1%
Buybacks
1,315
1,210
813
+8.7%
Dividends paid
656
654
635
+0.3%
Diluted shares, weighted
866m
908m
935m
-4.6%
Shares outstanding at period end
849m
885m
919m
-4.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
17,708
18,347
14,620
-3.5%
Debt
4,951
5,268
4,891
-6.0%
Other liabilities
95,637
96,152
101,796
-0.5%
Total liabilities and equity
118,296
119,767
121,307
-1.2%
Fixed assets
427
429
481
-0.5%
Securities held for sale or to maturity
33,459
34,242
44,415
-2.3%
Cash and equivalents
4,350
4,658
2,543
-6.6%
Other assets
80,060
80,438
73,868
-0.5%
Total assets
118,296
119,767
121,307
-1.2%
10-K for the year ended 31 December 2015, filed 25 February 2016: the filing.