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HCC INSURANCE HOLDINGS INC (HCC)
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Dec-31-14 | Dec-31-13 | Dec-31-12 | Dec-31-11 | Dec-31-10 | Dec-31-09 | Dec-31-08 | Dec-31-07 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Domestic | 1,985.0 | 1,868.6 | 1,881.0 | 1,779.8 | 1,785.9 | 1,833.7 | 330.1 | 1,955.3 |
| Accident & Health | 990.9 | 888.4 | 836.7 | 763.0 | | 746.7 | 716.9 | |
| Foreign | 667.6 | 668.3 | 644.9 | 594.2 | 516.4 | 484.8 | 102.1 | 433.1 |
| International | 430.2 | 417.5 | 417.9 | 374.1 | 323.5 | 279.6 | 300.8 | |
| Other | | | | | | | 756.6 | |
| Total revenues | 2,652.5 | 2,536.9 | 2,525.8 | 2,374.0 | 2,302.3 | 2,318.5 | 2,206.6 | 2,388.4 |
| Revenue growth | 4.6% | 0.4% | 6.4% | 3.1% | -0.7% | 5.1% | -7.6% | 15.1% |
| Loss and loss adjustment expenses | 1,326.8 | 1,322.5 | 1,338.1 | 1,399.2 | 1,213.0 | 1,215.8 | 1,211.9 | |
| Policy acquisition costs | 294.7 | 279.4 | 281.2 | 266.1 | 255.1 | 308.6 | 308.6 | |
| Investment expenses | 7.2 | 8.0 | 6.3 | 4.8 | 4.2 | 3.8 | | |
| Other operating expenses | 333.8 | 328.1 | 320.2 | 325.8 | 318.7 | 255.7 | 233.5 | 1,808.5 |
| EBITDA | 387.8 | 309.2 | 295.2 | 102.7 | 237.2 | 244.5 | 199.4 | 2,447.9 |
| EBITDA margin | 14.6% | 12.2% | 11.7% | 4.3% | 10.3% | 10.5% | 9.0% | 102.5% |
| Depreciation | 16.7 | 18.3 | 19.5 | 18.6 | 17.4 | 16.2 | 14.3 | 16.0 |
| EBIT | 371.2 | 290.9 | 275.7 | 84.1 | 219.8 | 228.3 | 185.1 | 2,431.9 |
| EBIT margin | 14.0% | 11.5% | 10.9% | 3.5% | 9.5% | 9.8% | 8.4% | 101.8% |
| Interest income, net [+] | 193.5 | 194.0 | 197.0 | 189.2 | 182.5 | 175.8 | 144.4 | 0.0 |
| Interest expense | 28.1 | 26.2 | 25.6 | 23.1 | 21.3 | 16.2 | 20.4 | |
| Interest income | 221.6 | 220.2 | 222.6 | 212.3 | 203.8 | 192.0 | 164.8 | |
| Other income (expense), net | 40.9 | 35.5 | 30.4 | 35.6 | 44.8 | 82.7 | 62.0 | |
| Pre-tax income | 661.8 | 572.7 | 554.4 | 355.0 | 489.8 | 518.6 | 432.2 | 579.9 |
| Income taxes | 203.5 | 165.5 | 163.2 | 99.8 | 144.7 | 164.7 | 130.1 | 188.4 |
| Tax rate | 30.7% | 28.9% | 29.4% | 28.1% | 29.5% | 31.8% | 30.1% | 32.5% |
| Net income | 450.8 | 400.6 | 384.3 | 255.2 | 345.1 | 353.9 | 302.1 | 391.6 |
| Net margin | 17.0% | 15.8% | 15.2% | 10.8% | 15.0% | 15.3% | 13.7% | 16.4% |
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| Basic EPS | $4.62 | $4.05 | $3.84 | $2.34 | $3.03 | $3.15 | $2.63 | $3.47 |
| Diluted EPS | $4.61 | $4.04 | $3.83 | $2.34 | $3.03 | $3.13 | $2.61 | $3.35 |
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| Shares outstanding (basic) | 97.6 | 98.9 | 100.2 | 109.1 | 113.9 | 112.2 | 114.9 | 112.8 |
| Shares outstanding (diluted) | 97.9 | 99.1 | 100.5 | 109.2 | 114.1 | 113.1 | 115.8 | 116.9 |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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