Assured Guaranty (AGO) FY2012 results: revenue $954 million, down 47.1% on the year
Assured Guaranty Ltd. (AGO) reported revenue of $954 million for fiscal 2012, the year ended 31 December 2012, down 47.1% on the year before. Net income was $110 million, down 85.8%, and diluted earnings per share $0.57. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2013.
Revenue
$954 million
-47.1% on the year
FY2008FY2012
Operating margin
13.8%
57.0% a year earlier
FY2008FY2012
Net income
$110 million
-85.8% on the year
FY2008FY2012
Diluted EPS
$0.57
-86.3% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
954
1,805
1,313
-47.1%
Operating income
132
1,029
534
-87.2%
Operating margin
13.8%
57.0%
40.7%
Interest expense
92.0
99.1
100
-7.2%
Pre-tax income
132
1,029
534
-87.2%
Income tax
22.0
256
50.0
-91.4%
Effective tax rate
16.7%
24.9%
9.4%
Net income
110
773
494
-85.8%
Net margin
11.5%
42.8%
37.6%
Diluted EPS
$0.57
$4.16
$2.90
-86.3%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
-165
676
129
Cash from investing
943
561
653
+68.0%
Cash from financing
-856
-1,133
-717
Share-based compensation
7.0
8.0
11.0
-12.5%
Buybacks
24.0
23.0
10.0
+4.3%
Dividends paid
69.0
33.0
33.0
+108.9%
Dividend per share
$0.36
$0.18
$0.18
+100.0%
Diluted shares, weighted
191m
186m
189m
+2.8%
Shares outstanding at period end
194m
182m
184m
+6.5%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
4,994
4,652
3,670
+7.4%
Non-controlling interest
n/a
66.9
63.5
Debt
836
1,038
1,053
-19.5%
Other liabilities
11,412
11,952
15,056
-4.5%
Total liabilities and equity
17,242
17,709
19,842
-2.6%
Investments
817
734
1,056
+11.3%
Trading assets
65.0
n/a
n/a
Cash and equivalents
138
215
108
-35.8%
Other assets
16,222
16,760
18,678
-3.2%
Total assets
17,242
17,709
19,842
-2.6%
10-K for the year ended 31 December 2012, filed 1 March 2013: the filing.