Globe Life (GL) FY2012 results: revenue $3.6 billion, up 6.3% on the year
Globe Life Inc. (GL) reported revenue of $3.6 billion for fiscal 2012, the year ended 31 December 2012, up 6.3% on the year before. Net income was $529 million, up 6.5%, and diluted earnings per share $3.61. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2013.
Revenue
$3.6 billion
+6.3% on the year
FY2007FY2012
Operating margin
21.0%
21.7% a year earlier
FY2007FY2012
Net income
$529 million
+6.5% on the year
FY2007FY2012
Diluted EPS
$3.61
+19.4% 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
3,590
3,377
3,368
+6.3%
Gross profit
728
698
713
+4.3%
Gross margin
20.3%
20.7%
21.2%
Operating income
754
732
722
+2.9%
Operating margin
21.0%
21.7%
21.5%
Interest expense
80.5
77.9
75.5
+3.3%
Pre-tax income
766
724
751
+5.8%
Income tax
237
226
246
+4.6%
Effective tax rate
30.9%
31.2%
32.8%
Net income
529
497
499
+6.5%
Net margin
14.7%
14.7%
14.8%
Diluted EPS
$3.61
$3.02
$2.70
+19.4%
$ 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
943
859
1,029
+9.7%
Capital expenditure
4.7
5.4
9.2
-13.3%
Free cash flow
938
854
1,019
+9.8%
Free cash flow margin
26.1%
25.3%
30.3%
Cash from investing
-698
-312
-558
Cash from financing
-269
-824
-330
Depreciation
7.1
6.8
6.0
+4.4%
Share-based compensation
21.6
15.0
11.8
+44.5%
Buybacks
570
973
246
-41.4%
Dividends paid
55.5
49.1
50.1
+13.0%
Dividend per share
$0.40
$0.31
$0.41
+30.4%
Diluted shares, weighted
147m
165m
185m
-10.9%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
4,362
3,860
3,667
+13.0%
Short-term borrowings
319
225
199
+41.9%
Debt
990
914
790
+8.2%
Other liabilities
13,106
11,590
10,967
+13.1%
Total liabilities and equity
18,777
16,588
15,623
+13.2%
Goodwill
442
397
397
+11.3%
Securities held for sale or to maturity
13,541
11,888
10,543
+13.9%
Cash and equivalents
61.7
84.1
366
-26.6%
Other assets
4,732
4,219
4,317
+12.2%
Total assets
18,777
16,588
15,623
+13.2%
10-K for the year ended 31 December 2012, filed 28 February 2013: the filing.