Aon (AON) FY2013 results: revenue $11.8 billion, up 2.6% on the year
Aon plc (AON) reported revenue of $11.8 billion for fiscal 2013, the year ended 31 December 2013, up 2.6% on the year before. Net income was $1.1 billion, up 12.1%, and diluted earnings per share $3.53. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2014.
Revenue
$11.8 billion
+2.6% on the year
FY2007FY2013
Operating margin
14.1%
13.9% a year earlier
FY2007FY2013
Net income
$1.1 billion
+12.1% on the year
FY2007FY2013
Diluted EPS
$3.53
+18.1% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
11,815
11,514
11,287
+2.6%
Operating income
1,671
1,596
1,596
+4.7%
Operating margin
14.1%
13.9%
14.1%
Interest expense
210
228
245
-7.9%
Pre-tax income
1,538
1,380
1,388
+11.4%
Income tax
390
360
378
+8.3%
Effective tax rate
25.4%
26.1%
27.2%
Net income
1,113
993
979
+12.1%
Net margin
9.4%
8.6%
8.7%
Diluted EPS
$3.53
$2.99
$2.87
+18.1%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,753
1,419
1,018
+23.5%
Capital expenditure
229
269
241
-14.9%
Free cash flow
1,524
1,150
777
+32.5%
Free cash flow margin
12.9%
10.0%
6.9%
Cash from investing
-339
177
-186
Cash from financing
-1,136
-1,586
-896
Depreciation and amortisation
240
232
220
+3.4%
Share-based compensation
300
212
235
+41.5%
Buybacks
1,102
1,125
828
-2.0%
Dividends paid
212
204
200
+3.9%
Dividend per share
$0.68
$0.62
$0.60
+9.7%
Diluted shares, weighted
315m
333m
341m
-5.2%
Shares outstanding at period end
301m
311m
324m
-3.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
8,145
7,762
8,078
+4.9%
Non-controlling interest
50.0
43.0
42.0
+16.3%
Debt
3,686
3,713
4,492
-0.7%
Other liabilities
18,370
18,968
16,940
-3.2%
Total liabilities and equity
30,251
30,486
29,552
-0.8%
Fixed assets
791
820
783
-3.5%
Goodwill
8,997
8,943
8,770
+0.6%
Intangible assets
2,578
2,975
3,276
-13.3%
Investments
655
511
1,024
+28.2%
Cash and equivalents
477
291
272
+63.9%
Receivables
2,896
3,101
3,183
-6.6%
Other assets
13,857
13,845
12,244
+0.1%
Total assets
30,251
30,486
29,552
-0.8%
10-K for the year ended 31 December 2013, filed 18 February 2014: the filing.