Assurant (AIZ) FY2012 results: revenue $8.5 billion, up 2.8% on the year
Assurant, Inc. (AIZ) reported revenue of $8.5 billion for fiscal 2012, the year ended 31 December 2012, up 2.8% on the year before. Net income was $484 million, down 10.3%, and diluted earnings per share $5.67. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2013.
Revenue
$8.5 billion
+2.8% on the year
FY2007FY2012
Operating margin
8.9%
8.5% a year earlier
FY2007FY2012
Net income
$484 million
-10.3% on the year
FY2007FY2012
Diluted EPS
$5.67
+2.9% on the year
FY2007FY2012
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
8,508
8,273
8,528
+2.8%
Selling, general and administrative
2,632
2,429
2,392
+8.3%
Operating income
758
706
606
+7.3%
Operating margin
8.9%
8.5%
7.1%
Interest expense
60.3
60.4
60.6
-0.1%
Pre-tax income
758
706
913
+7.3%
Income tax
274
167
327
+63.9%
Effective tax rate
36.2%
23.7%
35.8%
Net income
484
539
279
-10.3%
Net margin
5.7%
6.5%
3.3%
Diluted EPS
$5.67
$5.51
$2.50
+2.9%
$ 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
680
855
541
-20.5%
Capital expenditure
56.5
35.7
51.2
+57.9%
Free cash flow
623
820
490
-24.0%
Free cash flow margin
7.3%
9.9%
5.7%
Cash from investing
-450
-197
-8.9
Cash from financing
-481
-637
-699
Depreciation and amortisation
124
129
127
-3.9%
Share-based compensation
37.6
36.9
n/a
+1.9%
Buybacks
412
534
523
-22.8%
Dividends paid
69.4
67.4
69.6
+3.0%
Dividend per share
$0.81
$0.70
$0.63
+15.7%
Diluted shares, weighted
85m
98m
111m
-12.8%
Shares outstanding at period end
79m
89m
102m
-11.1%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
5,185
4,874
4,633
+6.4%
Non-controlling interest
n/a
153
147
Other liabilities
23,761
21,993
21,616
+8.0%
Total liabilities and equity
28,947
27,020
26,397
+7.1%
Fixed assets
251
243
267
+3.2%
Goodwill
641
639
620
+0.3%
Intangible assets
263
304
312
-13.4%
Securities held for sale or to maturity
12,172
11,193
10,613
+8.7%
Cash and equivalents
909
1,167
1,151
-22.1%
Other assets
14,711
13,475
13,435
+9.2%
Total assets
28,947
27,020
26,397
+7.1%
10-K for the year ended 31 December 2012, filed 20 February 2013: the filing.