2014 Q2 Form 10-Q Financial Statement

#000002117514000054 Filed on August 04, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $2.440B $2.450B
YoY Change -0.41% 9.08%
Cost Of Revenue $1.437B $1.482B
YoY Change -3.04% 10.43%
Gross Profit $1.003B $968.0M
YoY Change 3.62% 7.08%
Gross Profit Margin 41.11% 39.51%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $335.0M $335.0M
YoY Change 0.0% 8.41%
% of Gross Profit 33.4% 34.61%
Operating Expenses $2.030B $2.139B
YoY Change -5.1% 8.41%
Operating Profit -$1.027B -$1.171B
YoY Change -12.3% 9.54%
Interest Expense $46.00M $41.00M
YoY Change 12.2% -4.65%
% of Operating Profit
Other Income/Expense, Net $41.00M $108.0M
YoY Change -62.04% -2.7%
Pretax Income $364.0M $270.0M
YoY Change 34.81% 17.39%
Income Tax $103.0M $80.00M
% Of Pretax Income 28.3% 29.63%
Net Earnings $267.0M $194.0M
YoY Change 37.63% 16.87%
Net Earnings / Revenue 10.94% 7.92%
Basic Earnings Per Share $0.99 $0.72
Diluted Earnings Per Share $0.98 $0.72
COMMON SHARES
Basic Shares Outstanding 269.9M shares 269.7M shares
Diluted Shares Outstanding 270.6M shares 270.1M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $289.0M $327.0M
YoY Change -11.62% 5.48%
Goodwill $156.0M $152.0M
YoY Change 2.63%
Intangibles
YoY Change
Long-Term Investments $46.08B $46.30B
YoY Change -0.47% 0.65%
Other Assets $3.593B $315.0M
YoY Change 1040.63% 148.03%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $59.44B $57.57B
YoY Change 3.25% 1.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $549.0M $13.00M
YoY Change 4123.08% -84.34%
Total Short-Term Liabilities $549.0M $13.00M
YoY Change 4123.08% -84.34%
LONG-TERM LIABILITIES
Long-Term Debt $2.558B $2.558B
YoY Change 0.0% 1.27%
Other Long-Term Liabilities $6.592B $3.677B
YoY Change 79.28% 13.8%
Total Long-Term Liabilities $2.558B $2.558B
YoY Change 0.0% 1.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $549.0M $13.00M
Total Long-Term Liabilities $2.558B $2.558B
Total Liabilities $46.36B $45.62B
YoY Change 1.62% 3.02%
SHAREHOLDERS EQUITY
Retained Earnings $9.369B $9.110B
YoY Change 2.84% 5.4%
Common Stock $2.829B $2.823B
YoY Change 0.21% -0.04%
Preferred Stock
YoY Change
Treasury Stock (at cost) $85.00M $91.00M
YoY Change -6.59% -8.08%
Treasury Stock Shares 3094B shares 3342B shares
Shareholders Equity $13.07B $11.94B
YoY Change
Total Liabilities & Shareholders Equity $59.44B $57.57B
YoY Change 3.25% 1.89%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $267.0M $194.0M
YoY Change 37.63% 16.87%
Depreciation, Depletion And Amortization $335.0M $335.0M
YoY Change 0.0% 8.41%
Cash From Operating Activities $424.0M $378.0M
YoY Change 12.17% 23.53%
INVESTING ACTIVITIES
Capital Expenditures -$17.00M -$21.00M
YoY Change -19.05% 5.0%
Acquisitions
YoY Change
Other Investing Activities -$363.0M -$289.0M
YoY Change 25.61% 42.36%
Cash From Investing Activities -$380.0M -$310.0M
YoY Change 22.58% 39.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -47.00M -71.00M
YoY Change -33.8% 73.17%
NET CHANGE
Cash From Operating Activities 424.0M 378.0M
Cash From Investing Activities -380.0M -310.0M
Cash From Financing Activities -47.00M -71.00M
Net Change In Cash -3.000M -3.000M
YoY Change 0.0% -107.14%
FREE CASH FLOW
Cash From Operating Activities $424.0M $378.0M
Capital Expenditures -$17.00M -$21.00M
Free Cash Flow $441.0M $399.0M
YoY Change 10.53% 22.39%

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CY2014Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
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CY2014Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
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CY2014Q2 cna Fair Value Assets Level1to Level2 Transfers
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cna Fair Value Assets Level2to Level1 Transfers
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CY2014Q2 cna Future Capital Call Commitments
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cna Income Tax Expense Benefit On Net Realized Investment Gains Losses
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CY2013Q2 cna Income Tax Expense Benefit On Operating Income Loss
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CY2014Q2 cna Insuranceclaimsandpolicyholdersbenefitsincludingpolicyholdersdividends
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cna Investment Income Including Realized Gains Losses On Trading Securities Before Expenses
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CY2013Q2 cna Investment Income Including Realized Gains Losses On Trading Securities Before Expenses
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CY2014Q2 cna Investment Income Including Realized Gains Losses On Trading Securities Before Expenses
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CY2013Q4 cna Limited Partnership Investments
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CY2013Q4 cna Marketable Securities Fixed Maturities At Amortized Cost
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CY2014Q2 cna Mortgage Loan Commitments
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CY2014Q2 cna Net Investment Income And Gains Losses On Trading Securities
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cna Net Investment Income And Gains Losses On Trading Securities
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CY2013Q2 cna Net Investment Income And Gains Losses On Trading Securities
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534000000 USD
cna Net Operating Income Loss From Continuing Operations Attributable To Parent
NetOperatingIncomeLossFromContinuingOperationsAttributableToParent
462000000 USD
cna Net Operating Income Loss From Continuing Operations Attributable To Parent
NetOperatingIncomeLossFromContinuingOperationsAttributableToParent
424000000 USD
CY2014Q2 cna Net Operating Income Loss From Continuing Operations Attributable To Parent
NetOperatingIncomeLossFromContinuingOperationsAttributableToParent
272000000 USD
CY2013Q2 cna Net Operating Income Loss From Continuing Operations Attributable To Parent
NetOperatingIncomeLossFromContinuingOperationsAttributableToParent
199000000 USD
cna Net Realized Investment Gains Losses
NetRealizedInvestmentGainsLosses
19000000 USD
cna Net Realized Investment Gains Losses
NetRealizedInvestmentGainsLosses
7000000 USD
CY2014Q2 cna Net Realized Investment Gains Losses
NetRealizedInvestmentGainsLosses
-11000000 USD
CY2013Q2 cna Net Realized Investment Gains Losses
NetRealizedInvestmentGainsLosses
-9000000 USD
cna Net Realized Investment Gains Losses Continuing And Discontinuing Operations
NetRealizedInvestmentGainsLossesContinuingAndDiscontinuingOperations
14000000 USD
cna Net Realized Investment Gains Losses Continuing And Discontinuing Operations
NetRealizedInvestmentGainsLossesContinuingAndDiscontinuingOperations
34000000 USD
cna Net Unrealized Gains Losses On Discontinued Operations And Other
NetUnrealizedGainsLossesOnDiscontinuedOperationsAndOther
15000000 USD
CY2013Q2 cna Net Unrealized Gains Losses On Discontinued Operations And Other
NetUnrealizedGainsLossesOnDiscontinuedOperationsAndOther
USD
cna Net Unrealized Gains Losses On Discontinued Operations And Other
NetUnrealizedGainsLossesOnDiscontinuedOperationsAndOther
USD
CY2014Q2 cna Net Unrealized Gains Losses On Discontinued Operations And Other
NetUnrealizedGainsLossesOnDiscontinuedOperationsAndOther
7000000 USD
cna Net Unrealized Gains Losses On Investments
NetUnrealizedGainsLossesOnInvestments
-641000000 USD
cna Net Unrealized Gains Losses On Investments
NetUnrealizedGainsLossesOnInvestments
521000000 USD
CY2014Q2 cna Net Unrealized Gains Losses On Investments
NetUnrealizedGainsLossesOnInvestments
272000000 USD
CY2013Q2 cna Net Unrealized Gains Losses On Investments
NetUnrealizedGainsLossesOnInvestments
-593000000 USD
cna Operating Income Loss From Continuing Operations Before Income Tax
OperatingIncomeLossFromContinuingOperationsBeforeIncomeTax
630000000 USD
cna Operating Income Loss From Continuing Operations Before Income Tax
OperatingIncomeLossFromContinuingOperationsBeforeIncomeTax
610000000 USD
CY2014Q2 cna Operating Income Loss From Continuing Operations Before Income Tax
OperatingIncomeLossFromContinuingOperationsBeforeIncomeTax
378000000 USD
CY2013Q2 cna Operating Income Loss From Continuing Operations Before Income Tax
OperatingIncomeLossFromContinuingOperationsBeforeIncomeTax
284000000 USD
cna Operating Revenues
OperatingRevenues
4871000000 USD
cna Operating Revenues
OperatingRevenues
4896000000 USD
CY2014Q2 cna Operating Revenues
OperatingRevenues
2454000000 USD
CY2013Q2 cna Operating Revenues
OperatingRevenues
2464000000 USD
cna Origination Of Mortgage Loans
OriginationOfMortgageLoans
54000000 USD
cna Origination Of Mortgage Loans
OriginationOfMortgageLoans
43000000 USD
cna Other Insurance Related Expenses
OtherInsuranceRelatedExpenses
521000000 USD
cna Other Insurance Related Expenses
OtherInsuranceRelatedExpenses
513000000 USD
CY2014Q2 cna Other Insurance Related Expenses
OtherInsuranceRelatedExpenses
259000000 USD
CY2013Q2 cna Other Insurance Related Expenses
OtherInsuranceRelatedExpenses
252000000 USD
CY2013Q4 cna Other Intangible Assets
OtherIntangibleAssets
159000000 USD
CY2014Q2 cna Other Intangible Assets
OtherIntangibleAssets
164000000 USD
CY2013Q2 cna Pretax Favorable Unfavorable Net Prior Year Claim And Allocated Claim Adjustment Expense Reserve Development Excluding Life Group
PretaxFavorableUnfavorableNetPriorYearClaimAndAllocatedClaimAdjustmentExpenseReserveDevelopmentExcludingLifeGroup
-5000000 USD
cna Pretax Favorable Unfavorable Net Prior Year Claim And Allocated Claim Adjustment Expense Reserve Development Excluding Life Group
PretaxFavorableUnfavorableNetPriorYearClaimAndAllocatedClaimAdjustmentExpenseReserveDevelopmentExcludingLifeGroup
49000000 USD
CY2014Q2 cna Pretax Favorable Unfavorable Net Prior Year Claim And Allocated Claim Adjustment Expense Reserve Development Excluding Life Group
PretaxFavorableUnfavorableNetPriorYearClaimAndAllocatedClaimAdjustmentExpenseReserveDevelopmentExcludingLifeGroup
24000000 USD
cna Pretax Favorable Unfavorable Net Prior Year Claim And Allocated Claim Adjustment Expense Reserve Development Excluding Life Group
PretaxFavorableUnfavorableNetPriorYearClaimAndAllocatedClaimAdjustmentExpenseReserveDevelopmentExcludingLifeGroup
-31000000 USD
CY2013Q2 cna Pretax Favorable Unfavorable Premium Development Excluding Life Group
PretaxFavorableUnfavorablePremiumDevelopmentExcludingLifeGroup
-8000000 USD
cna Pretax Favorable Unfavorable Premium Development Excluding Life Group
PretaxFavorableUnfavorablePremiumDevelopmentExcludingLifeGroup
-33000000 USD
CY2014Q2 cna Pretax Favorable Unfavorable Premium Development Excluding Life Group
PretaxFavorableUnfavorablePremiumDevelopmentExcludingLifeGroup
-2000000 USD
cna Pretax Favorable Unfavorable Premium Development Excluding Life Group
PretaxFavorableUnfavorablePremiumDevelopmentExcludingLifeGroup
-21000000 USD
CY2014Q2 cna Reduction Of Net Unrealized Gains On Investments Included In Aoci Due To Shadow Adjustments
ReductionOfNetUnrealizedGainsOnInvestmentsIncludedInAociDueToShadowAdjustments
937000000 USD
CY2013Q4 cna Reduction Of Net Unrealized Gains On Investments Included In Aoci Due To Shadow Adjustments
ReductionOfNetUnrealizedGainsOnInvestmentsIncludedInAociDueToShadowAdjustments
532000000 USD
CY2013Q4 cna Reinsurance Receivable
ReinsuranceReceivable
6088000000 USD
CY2014Q2 cna Reinsurance Receivable
ReinsuranceReceivable
5115000000 USD
cna Tax Expense Benefit On Reclassification From Accumulated Other Comprehensive Income Current Period
TaxExpenseBenefitOnReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriod
2000000 USD
CY2014Q2 cna Tax Expense Benefit On Reclassification From Accumulated Other Comprehensive Income Current Period
TaxExpenseBenefitOnReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriod
-22000000 USD
cna Tax Expense Benefit On Reclassification From Accumulated Other Comprehensive Income Current Period
TaxExpenseBenefitOnReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriod
-35000000 USD
CY2013Q2 cna Tax Expense Benefit On Reclassification From Accumulated Other Comprehensive Income Current Period
TaxExpenseBenefitOnReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriod
5000000 USD
CY2014Q2 cna Total Intangible Assets Accumulated Amortization
TotalIntangibleAssetsAccumulatedAmortization
70000000 USD
CY2013Q4 cna Total Intangible Assets Accumulated Amortization
TotalIntangibleAssetsAccumulatedAmortization
66000000 USD
CY2013Q2 cna Total Pretax Favorable Unfavorable Net Prior Year Development Excluding Life Group
TotalPretaxFavorableUnfavorableNetPriorYearDevelopmentExcludingLifeGroup
-13000000 USD
cna Total Pretax Favorable Unfavorable Net Prior Year Development Excluding Life Group
TotalPretaxFavorableUnfavorableNetPriorYearDevelopmentExcludingLifeGroup
16000000 USD
CY2014Q2 cna Total Pretax Favorable Unfavorable Net Prior Year Development Excluding Life Group
TotalPretaxFavorableUnfavorableNetPriorYearDevelopmentExcludingLifeGroup
22000000 USD
cna Total Pretax Favorable Unfavorable Net Prior Year Development Excluding Life Group
TotalPretaxFavorableUnfavorableNetPriorYearDevelopmentExcludingLifeGroup
-52000000 USD
cna Transferofcashtoassetsheldforsale
Transferofcashtoassetsheldforsale
USD
cna Transferofcashtoassetsheldforsale
Transferofcashtoassetsheldforsale
9000000 USD
cna Transfertonetassetsheldforsale
Transfertonetassetsheldforsale
USD
cna Unrealized Gains Losses Recognized In Net Income On Level3 Assets And Liabilities Held
UnrealizedGainsLossesRecognizedInNetIncomeOnLevel3AssetsAndLiabilitiesHeld
1000000 USD
cna Unrealized Gains Losses Recognized In Net Income On Level3 Assets And Liabilities Held
UnrealizedGainsLossesRecognizedInNetIncomeOnLevel3AssetsAndLiabilitiesHeld
-26000000 USD
CY2013Q2 cna Unrealized Gains Losses Recognized In Net Income On Level3 Assets And Liabilities Held
UnrealizedGainsLossesRecognizedInNetIncomeOnLevel3AssetsAndLiabilitiesHeld
-10000000 USD
CY2014Q2 cna Unrealized Gains Losses Recognized In Net Income On Level3 Assets And Liabilities Held
UnrealizedGainsLossesRecognizedInNetIncomeOnLevel3AssetsAndLiabilitiesHeld
USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000021175
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
269946268 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
CNA FINANCIAL CORP
CY2014Q2 invest Derivative Notional Amount
DerivativeNotionalAmount
11000000 USD
CY2013Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
5000000 USD

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