2012 Q2 Form 10-Q Financial Statement

#000119312512328826 Filed on August 01, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $3.926B $4.253B
YoY Change -7.69% 13.11%
Cost Of Revenue $2.119B $2.226B
YoY Change -4.81% 23.67%
Gross Profit $1.807B $2.027B
YoY Change -10.85% 3.42%
Gross Profit Margin 46.03% 47.66%
Selling, General & Admin $514.0M $518.0M
YoY Change -0.77% 11.88%
% of Gross Profit 28.44% 25.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $619.0M $612.0M
YoY Change 1.14% 14.18%
% of Gross Profit 34.26% 30.19%
Operating Expenses $3.367B $3.471B
YoY Change -3.0% 20.23%
Operating Profit -$1.560B -$1.444B
YoY Change 8.03% 55.77%
Interest Expense $62.00M $62.00M
YoY Change 0.0% 19.23%
% of Operating Profit
Other Income/Expense, Net -$34.00M -$12.00M
YoY Change 183.33% 300.0%
Pretax Income $476.0M $715.0M
YoY Change -33.43% -12.7%
Income Tax $148.0M $121.0M
% Of Pretax Income 31.09% 16.92%
Net Earnings $328.0M $594.0M
YoY Change -44.78% -12.26%
Net Earnings / Revenue 8.35% 13.97%
Basic Earnings Per Share $0.96 $1.75
Diluted Earnings Per Share $0.96 $1.74
COMMON SHARES
Basic Shares Outstanding 339.8M shares 338.9M shares
Diluted Shares Outstanding 342.7M shares 341.7M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $617.0M $833.0M
Short-Term Investments
Other Short-Term Assets $1.775B $1.711B
YoY Change 3.74% -10.14%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.775B $1.711B
YoY Change 3.74% -10.14%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $58.02B $55.54B
YoY Change 4.46% 13.33%
Other Assets $557.0M $586.0M
YoY Change -4.95% -46.97%
Total Long-Term Assets $88.93B $87.54B
YoY Change 1.58% 11.87%
TOTAL ASSETS
Total Short-Term Assets $1.775B $1.711B
Total Long-Term Assets $88.93B $87.54B
Total Assets $90.70B $89.25B
YoY Change 1.62% 11.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.255B $3.288B
YoY Change 29.41% 8.91%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.401B $1.709B
YoY Change -18.02% 274.78%
Long-Term Debt Due $1.400B
YoY Change 852.38%
Total Short-Term Liabilities $10.31B $9.223B
YoY Change 11.77% 27.99%
LONG-TERM LIABILITIES
Long-Term Debt $3.360B $3.360B
YoY Change 0.0% 6.4%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $3.360B $3.360B
YoY Change 0.0% 6.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.31B $9.223B
Total Long-Term Liabilities $3.360B $3.360B
Total Liabilities $64.94B $65.14B
YoY Change -0.31% 10.88%
SHAREHOLDERS EQUITY
Retained Earnings $8.628B $6.792B
YoY Change 27.03% 59.81%
Common Stock $9.927B $10.10B
YoY Change -1.69% -2.58%
Preferred Stock
YoY Change
Treasury Stock (at cost) $206.0M $250.0M
YoY Change -17.6% 762.07%
Treasury Stock Shares 3.772M shares 4.863M shares
Shareholders Equity $25.76B $24.11B
YoY Change
Total Liabilities & Shareholders Equity $90.70B $89.25B
YoY Change 1.62% 11.34%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $328.0M $594.0M
YoY Change -44.78% -12.26%
Depreciation, Depletion And Amortization $619.0M $612.0M
YoY Change 1.14% 14.18%
Cash From Operating Activities $811.0M $1.060B
YoY Change -23.49% 22.12%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$635.0M -$1.268B
YoY Change -49.92% 58.3%
Cash From Investing Activities -$635.0M -$1.268B
YoY Change -49.92% 58.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -262.0M -78.00M
YoY Change 235.9% -20.41%
NET CHANGE
Cash From Operating Activities 811.0M 1.060B
Cash From Investing Activities -635.0M -1.268B
Cash From Financing Activities -262.0M -78.00M
Net Change In Cash -86.00M -286.0M
YoY Change -69.93% 822.58%
FREE CASH FLOW
Cash From Operating Activities $811.0M $1.060B
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Document Type
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62000000
CY2012Q2 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
10000000
CY2012Q2 us-gaap Revenues
Revenues
3926000000
CY2012Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-1000000
CY2012Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-9000000
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
148000000
CY2012Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
140000000
CY2012Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-116000000
CY2012Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1471035 shares
CY2012Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
457000000
CY2012Q2 us-gaap Realized Gain Loss On Marketable Securities And Cost Method Investments Excluding Other Than Temporary Impairments And Other Investments
RealizedGainLossOnMarketableSecuritiesAndCostMethodInvestmentsExcludingOtherThanTemporaryImpairmentsAndOtherInvestments
-384000000
CY2012Q2 us-gaap Interest Expense
InterestExpense
62000000
CY2012Q2 us-gaap Derivative Instruments Gain Loss Recognized In Income Net
DerivativeInstrumentsGainLossRecognizedInIncomeNet
-445000000
CY2012Q2 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
3450000000
CY2012Q2 ace Underwriting Income Loss Insurance
UnderwritingIncomeLossInsurance
429000000
CY2012Q2 ace Standard And Poors Put Options And Futures Gains Losses
StandardAndPoorsPutOptionsAndFuturesGainsLosses
70000000
CY2012Q2 ace Equity Securities Net Realized Gains Losses Total
EquitySecuritiesNetRealizedGainsLossesTotal
-5000000
CY2012Q2 ace Equity Securities Gross Realized Losses Excluding Other Than Temporary Impairments
EquitySecuritiesGrossRealizedLossesExcludingOtherThanTemporaryImpairments
1000000
CY2012Q2 ace Change In Unearned Premium Net
ChangeInUnearnedPremiumNet
347000000
CY2012Q2 ace Corporate Securities Credit Losses Recognized In Net Income
CorporateSecuritiesCreditLossesRecognizedInNetIncome
1000000
CY2012Q2 ace Gains Losses On Fair Value Changes In Separate Account Assets
GainsLossesOnFairValueChangesInSeparateAccountAssets
14000000
CY2012Q2 ace Fair Value Adjustments On Insurance Derivative Gains Losses
FairValueAdjustmentsOnInsuranceDerivativeGainsLosses
-467000000
CY2012Q2 ace Fixed Maturities Gross Realized Gains Excluding Other Than Temporary Impairments
FixedMaturitiesGrossRealizedGainsExcludingOtherThanTemporaryImpairments
104000000
CY2012Q2 ace Fixed Maturities Gross Realized Losses Excluding Other Than Temporary Impairments
FixedMaturitiesGrossRealizedLossesExcludingOtherThanTemporaryImpairments
35000000
CY2012Q2 ace Fixed Maturities Net Realized Gains Losses Total
FixedMaturitiesNetRealizedGainsLossesTotal
68000000
CY2012Q2 ace Fixed Maturities Other Than Temporary Impairments Gross
FixedMaturitiesOtherThanTemporaryImpairmentsGross
-1000000
CY2012Q2 ace Fixed Maturities Other Than Temporary Impairments Net
FixedMaturitiesOtherThanTemporaryImpairmentsNet
-1000000
CY2012Q2 ace Investment And Embedded Derivative Instruments Gains Losses
InvestmentAndEmbeddedDerivativeInstrumentsGainsLosses
-49000000
CY2012Q2 ace Policy Acquisition Costs And Administrative Expenses
PolicyAcquisitionCostsAndAdministrativeExpenses
1133000000
CY2012Q2 ace Product Line Casualty Net Premiums Earned
ProductLineCasualtyNetPremiumsEarned
1289000000
CY2012Q2 ace Product Line Life Accident And Health Net Premiums Earned
ProductLineLifeAccidentAndHealthNetPremiumsEarned
1097000000
CY2012Q2 ace Product Line Property And All Other Net Premiums Earned
ProductLinePropertyAndAllOtherNetPremiumsEarned
1397000000
CY2012Q2 ace Other Realized Gains Losses
OtherRealizedGainsLosses
2000000
CY2012Q2 ace Other Nonoperating Income Expense Excluding Separate Account Losses
OtherNonoperatingIncomeExpenseExcludingSeparateAccountLosses
20000000
CY2012Q2 ace Other Comprehensive Income Loss Subtotal
OtherComprehensiveIncomeLossSubtotal
255000000
CY2012Q2 ace Other Investments Other Than Temporary Impairments
OtherInvestmentsOtherThanTemporaryImpairments
-5000000
CY2012Q2 ace Other Derivative Instruments Gains Losses
OtherDerivativeInstrumentsGainsLosses
1000000
CY2012Q2 ace Mortgage Backed Securities Credit Losses Recognized In Net Income
MortgageBackedSecuritiesCreditLossesRecognizedInNetIncome
0
CY2012Q2 ace Net Realized Gains Losses
NetRealizedGainsLosses
-394000000
CY2012Q2 ace Net Unrealized Appreciation Included In Other Comprehensive Income
NetUnrealizedAppreciationIncludedInOtherComprehensiveIncome
16000000

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