American International Group (AIG) FY2014 results: revenue $64.4 billion, down 6.5% on the year
American International Group, Inc. (AIG) reported revenue of $64.4 billion for fiscal 2014, the year ended 31 December 2014, down 6.5% on the year before. Net income was $7.5 billion, down 17.1%, and diluted earnings per share $5.20. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$64.4 billion
-6.5% on the year
FY2007FY2014
Operating margin
16.3%
13.6% a year earlier
FY2007FY2014
Net income
$7.5 billion
-17.1% on the year
FY2007FY2014
Diluted EPS
$5.20
-15.2% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
64,406
68,874
71,214
-6.5%
Selling, general and administrative
13,138
13,564
13,013
-3.1%
Operating income
10,501
9,368
2,891
+12.1%
Operating margin
16.3%
13.6%
4.1%
Interest expense
1,718
2,142
2,319
-19.8%
Pre-tax income
10,501
9,368
2,891
+12.1%
Income tax
2,927
360
-808
+713.1%
Effective tax rate
27.9%
3.8%
-27.9%
Net income
7,529
9,085
3,438
-17.1%
Net margin
11.7%
13.2%
4.8%
Diluted EPS
$5.20
$6.13
$2.04
-15.2%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
5,007
5,865
3,676
-14.6%
Capital expenditure
1,832
2,732
2,851
-32.9%
Free cash flow
3,175
3,133
825
+1.3%
Free cash flow margin
4.9%
4.5%
1.2%
Cash from investing
14,284
7,099
16,612
+101.2%
Cash from financing
-19,788
-11,758
-20,564
Depreciation and amortisation
4,448
4,713
7,349
-5.6%
Share-based compensation
349
457
286
-23.6%
Buybacks
4,902
597
13,000
+721.1%
Dividends paid
712
294
n/a
+142.2%
Dividend per share
$0.50
$0.20
$0.00
+150.0%
Diluted shares, weighted
1,448m
1,481m
1,687m
-2.3%
Shares outstanding at period end
1,376m
1,464m
1,476m
-6.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
106,898
100,470
98,002
+6.4%
Non-controlling interest
374
611
667
-38.8%
Redeemable equity
0.0
30.0
334
Debt
31,217
41,693
48,500
-25.1%
Other liabilities
377,092
398,525
401,130
-5.4%
Total liabilities and equity
515,581
541,329
548,633
-4.8%
Fixed assets
2,700
2,315
2,213
+16.6%
Goodwill
1,454
1,475
1,469
-1.4%
Investments
11,243
n/a
n/a
Securities held for sale or to maturity
n/a
258,274
269,959
Loans
24,990
20,765
19,482
+20.3%
Trading assets
20,761
23,457
25,246
-11.5%
Cash and equivalents
1,758
2,241
1,151
-21.6%
Other assets
452,675
232,802
229,113
+94.4%
Total assets
515,581
541,329
548,633
-4.8%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.