Assurant (AIZ) FY2015 results: revenue $10.3 billion, down 0.5% on the year
Assurant, Inc. (AIZ) reported revenue of $10.3 billion for fiscal 2015, the year ended 31 December 2015, down 0.5% on the year before. Net income was $142 million, down 69.9%, and diluted earnings per share $2.05. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2016.
Revenue
$10.3 billion
-0.5% on the year
FY2008FY2015
Operating margin
1.9%
7.2% a year earlier
FY2008FY2015
Net income
$142 million
-69.9% on the year
FY2008FY2015
Diluted EPS
$2.05
-68.2% 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
10,325
10,382
9,048
-0.5%
Selling, general and administrative
3,924
3,688
3,034
+6.4%
Operating income
201
744
790
-73.0%
Operating margin
1.9%
7.2%
8.7%
Interest expense
55.1
58.4
77.7
-5.6%
Pre-tax income
201
744
790
-73.0%
Income tax
59.6
273
301
-78.2%
Effective tax rate
29.6%
36.7%
38.1%
Net income
142
471
489
-69.9%
Net margin
1.4%
4.5%
5.4%
Diluted EPS
$2.05
$6.44
$6.30
-68.2%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
230
394
1,028
-41.6%
Capital expenditure
115
83.6
52.3
+37.4%
Free cash flow
115
310
975
-62.9%
Free cash flow margin
1.1%
3.0%
10.8%
Cash from investing
264
n/a
n/a
Cash from financing
-462
n/a
n/a
Depreciation and amortisation
137
132
125
+3.7%
Share-based compensation
38.8
49.4
50.0
-21.4%
Buybacks
293
215
393
+36.1%
Dividends paid
94.2
77.5
74.1
+21.5%
Dividend per share
$1.37
$1.06
$0.96
+29.2%
Diluted shares, weighted
69m
73m
78m
-5.7%
Shares outstanding at period end
66m
69m
72m
-5.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
4,524
5,181
4,833
-12.7%
Non-controlling interest
0.0
n/a
n/a
Other liabilities
25,519
26,381
24,881
-3.3%
Total liabilities and equity
30,043
31,562
29,715
-4.8%
Fixed assets
298
278
254
+7.5%
Goodwill
834
841
785
-0.9%
Intangible assets
277
382
355
-27.4%
Securities held for sale or to maturity
10,215
11,263
11,292
-9.3%
Cash and equivalents
1,288
1,319
1,717
-2.3%
Other assets
17,130
17,480
15,313
-2.0%
Total assets
30,043
31,562
29,715
-4.8%
10-K for the year ended 31 December 2015, filed 16 February 2016: the filing.