$MTG
MGIC INVESTMENT CORP

2013 Q4 Form 10-K Financial Statement

#000114036114010329 Filed on February 28, 2014

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2013 Q2
Revenue $251.9M $254.8M $263.9M
YoY Change 1062.97% -16.79% -17.89%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.60M $16.10M $14.60M
YoY Change -31.88% -37.35% -45.52%
% of Gross Profit
Operating Expenses $234.5M $224.4M $232.6M
YoY Change -67.87% -57.8% -59.41%
Operating Profit
YoY Change
Interest Expense -$17.70M -$17.70M -$17.90M
YoY Change -30.04% -27.76% -28.11%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$200.0K $12.50M $13.40M
YoY Change -99.95% -105.0% -104.84%
Income Tax $1.200M $300.0K $1.000M
% Of Pretax Income 2.4% 7.46%
Net Earnings -$1.400M $12.10M $12.40M
YoY Change -99.64% -104.9% -104.53%
Net Earnings / Revenue -0.56% 4.75% 4.7%
Basic Earnings Per Share $0.00 $0.04 $0.04
Diluted Earnings Per Share $0.00 $0.04 $0.04
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q4 2013 Q3 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $332.7M $458.0M $571.0M
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 $26.00M $26.00M $27.00M
YoY Change -3.7% -3.7% 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.867B $5.020B $4.999B
YoY Change 15.06% 1.89% -7.46%
Other Assets $60.00M $60.00M
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $5.601B $5.858B $6.044B
YoY Change 0.48% -2.51% -4.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $1.317B $1.317B $1.317B
YoY Change 59.64% 61.6% 63.4%
Other Long-Term Liabilities $275.0M $278.0M $243.0M
YoY Change -2.83% -6.71% -19.0%
Total Long-Term Liabilities $1.592B $1.595B $1.560B
YoY Change 43.68% 43.31% 41.05%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $1.592B $1.595B $1.560B
Total Liabilities $4.857B $5.154B $5.363B
YoY Change -9.67% -3.5% -1.61%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $744.5M $703.0M $681.0M
YoY Change
Total Liabilities & Shareholders Equity $5.601B $5.858B $6.044B
YoY Change 0.48% -2.51% -4.35%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2013 Q2
OPERATING ACTIVITIES
Net Income -$1.400M $12.10M $12.40M
YoY Change -99.64% -104.9% -104.53%
Depreciation, Depletion And Amortization $15.60M $16.10M $14.60M
YoY Change -31.88% -37.35% -45.52%
Cash From Operating Activities -$278.1M -$184.0M -$256.9M
YoY Change -29.79% -42.21% -40.33%
INVESTING ACTIVITIES
Capital Expenditures -$800.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $153.6M $70.70M -$790.1M
YoY Change -77.85% -85.44% -647.92%
Cash From Investing Activities $152.8M $70.70M -$790.1M
YoY Change -77.96% -85.44% -647.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -200.0K -17.30M
YoY Change -67.42%
NET CHANGE
Cash From Operating Activities -278.1M -184.0M -256.9M
Cash From Investing Activities 152.8M 70.70M -790.1M
Cash From Financing Activities 0.000 -200.0K -17.30M
Net Change In Cash -125.3M -113.5M -1.064B
YoY Change -142.16% -167.88% 213.58%
FREE CASH FLOW
Cash From Operating Activities -$278.1M -$184.0M -$256.9M
Capital Expenditures -$800.0K
Free Cash Flow -$277.3M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2011 mtg Decrease In Unearned Premiums Net
DecreaseInUnearnedPremiumsNet
-59455000
CY2013 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.59
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.59
CY2013 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.36
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.22
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2012Q4 us-gaap Incurred Claims Property Casualty And Liability
IncurredClaimsPropertyCasualtyAndLiability
688636000
CY2012Q4 us-gaap Interest Expense Debt
InterestExpenseDebt
25327000
CY2012 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaid
2518163000
CY2011 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaid
2920683000
CY2013 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaid
1793405000
CY2012 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears
2389985000
CY2011 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears
2838069000
CY2013 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears
1722923000
CY2011 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims
1714707000
CY2012 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims
2067253000
CY2013 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims
838726000
CY2013 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Prior Years
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsPriorYears
-59687000
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.91
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.22
CY2011 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Prior Years
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsPriorYears
-99328000
CY2012 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Prior Years
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsPriorYears
573120000
CY2010Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
5608881000
CY2012Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
3951995000
CY2011Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
4402905000
CY2013Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
2997316000
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
-386691000
CY2012Q4 us-gaap Net Investment Income
NetInvestmentIncome
21660000
CY2012Q4 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
3463000
CY2013Q4 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
13280000
CY2012Q4 us-gaap Premiums Earned Net Property And Casualty
PremiumsEarnedNetPropertyAndCasualty
261705000
CY2012Q4 us-gaap Premiums Written Net Property And Casualty
PremiumsWrittenNetPropertyAndCasualty
260736000
CY2011Q4 mtg Accumulated Other Comprehensive Income Loss Tax
AccumulatedOtherComprehensiveIncomeLossTax
49675000
CY2012Q4 mtg Accumulated Other Comprehensive Income Loss Tax
AccumulatedOtherComprehensiveIncomeLossTax
50647000
CY2013Q4 mtg Accumulated Other Comprehensive Income Loss Tax
AccumulatedOtherComprehensiveIncomeLossTax
40510000
CY2012Q4 mtg Underwriting And Other Operating Expenses
UnderwritingAndOtherOperatingExpenses
51516000
CY2011 mtg Change In Premium Deficiency Reserve To Reflect Change In Assumptions Relating To Future Premiums Losses Expenses And Discount Rate1
ChangeInPremiumDeficiencyReserveToReflectChangeInAssumptionsRelatingToFuturePremiumsLossesExpensesAndDiscountRate1
87000000
CY2013 mtg Change In Premium Deficiency Reserve To Reflect Change In Assumptions Relating To Future Premiums Losses Expenses And Discount Rate1
ChangeInPremiumDeficiencyReserveToReflectChangeInAssumptionsRelatingToFuturePremiumsLossesExpensesAndDiscountRate1
54000000
CY2012 mtg Change In Premium Deficiency Reserve To Reflect Change In Assumptions Relating To Future Premiums Losses Expenses And Discount Rate1
ChangeInPremiumDeficiencyReserveToReflectChangeInAssumptionsRelatingToFuturePremiumsLossesExpensesAndDiscountRate1
-55000000
CY2012 mtg Reinsurance Terminations
ReinsuranceTerminations
6331000
CY2011 mtg Reinsurance Terminations
ReinsuranceTerminations
38769000
CY2013 mtg Reinsurance Terminations
ReinsuranceTerminations
2988000
CY2012Q4 mtg Primary Default Inventory Claims Received Inventory Percentage
PrimaryDefaultInventoryClaimsReceivedInventoryPercentage
0.08
CY2013Q4 mtg Primary Default Inventory Claims Received Inventory Percentage
PrimaryDefaultInventoryClaimsReceivedInventoryPercentage
0.07
CY2011Q4 mtg Primary Default Inventory Claims Received Inventory Percentage
PrimaryDefaultInventoryClaimsReceivedInventoryPercentage
0.07
CY2012Q4 mtg Primary Default Inventory Claims Received Inventory
PrimaryDefaultInventoryClaimsReceivedInventory
11731
CY2011Q4 mtg Primary Default Inventory Claims Received Inventory
PrimaryDefaultInventoryClaimsReceivedInventory
12610
CY2013Q4 mtg Primary Default Inventory Claims Received Inventory
PrimaryDefaultInventoryClaimsReceivedInventory
6948
CY2012Q4 mtg Increase Decrease In Premium Deficiency Reserves
IncreaseDecreaseInPremiumDeficiencyReserves
10351000

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