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INDEPENDENCE HOLDING CO (IHC)
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 | Dec-31-12 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Specialty Health Segment Member | 193.8 | 202.9 | 203.8 | 173.1 | 185.9 | 239.1 | | |
| Corporate | 5.9 | 2.3 | 2.5 | 2.9 | 0.2 | 0.2 | 0.1 | 0.5 |
| Individual life, annuities and other | 1.7 | 1.9 | 2.1 | 2.8 | 27.1 | 34.6 | 42.0 | 53.2 |
| Medical stop-loss | 0.0 | 0.0 | 2.6 | 25.6 | 214.1 | 181.2 | 172.0 | 146.4 |
| Other | | 143.6 | 109.5 | 106.6 | 103.1 | 75.3 | 361.0 | 227.9 |
| Total revenues | 0.0 | 350.8 | 320.5 | 311.0 | 530.5 | 530.3 | 575.0 | 428.1 |
| Revenue growth | -100.0% | 9.4% | 3.1% | -41.4% | 0.0% | -7.8% | 34.3% | 2.4% |
| Loss and loss adjustment expenses | 174.1 | 144.2 | 135.1 | 145.2 | 307.2 | 326.0 | 354.8 | 244.8 |
| Policy acquisition costs | 1.0 | 1.0 | 0.3 | 0.3 | 3.5 | 4.9 | 15.1 | 6.6 |
| Investment expenses | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | | | |
| Other operating expenses | -175.3 | 167.9 | 156.7 | 133.0 | 175.8 | 176.4 | 179.6 | 150.0 |
| Equity in earnings | | | | 4.5 | 3.1 | 7.7 | 19.8 | 5.1 |
| EBITDA | | 40.4 | 30.3 | 31.2 | 39.3 | 18.3 | 48.0 | 33.9 |
| EBITDA margin | | 11.5% | 9.4% | 10.0% | 7.4% | 3.4% | 8.3% | 7.9% |
| Depreciation | | 2.9 | 1.9 | 1.8 | 2.3 | 3.0 | 4.6 | 4.2 |
| EBIT | 0.0 | 37.5 | 28.3 | 29.4 | 36.9 | 15.3 | 43.4 | 29.7 |
| EBIT margin | | 10.7% | 8.8% | 9.5% | 7.0% | 2.9% | 7.5% | 6.9% |
| Interest income, net [+] | 0.0 | 0.0 | 0.0 | -3.7 | -0.1 | -3.6 | -3.8 | -5.2 |
| Interest expense | | | | 0.3 | 0.1 | 1.8 | 1.9 | 2.1 |
| Interest income | | | | -3.4 | -0.1 | -1.8 | -1.9 | -3.1 |
| Other income (expense), net | | | | 4.5 | 5.2 | 7.6 | 17.8 | 5.4 |
| Pre-tax income | 0.0 | 37.5 | 28.3 | 32.1 | 43.9 | 21.1 | 23.7 | 24.6 |
| Income taxes | 0.0 | 8.5 | -13.8 | 9.6 | 15.9 | 6.1 | 8.4 | 2.0 |
| Tax rate | | 22.6% | | 29.8% | 36.2% | 28.9% | 35.5% | 8.1% |
| Minority interest | | | | | | 0.6 | 1.5 | 3.0 |
| Earnings from continuing ops | | 29.1 | 42.1 | 22.5 | 28.0 | 14.4 | 13.8 | 19.7 |
| Earnings from discontinued ops | | | | 110.8 | 2.5 | 1.9 | | |
| Net income | 0.0 | 29.1 | 42.1 | 133.3 | 30.5 | 16.3 | 13.8 | 19.7 |
| Net margin | | 8.3% | 13.1% | 42.9% | 5.8% | 3.1% | 2.4% | 4.6% |
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| Basic EPS | | $1.96 | $2.68 | $1.31 | $1.62 | $0.82 | $0.78 | $1.09 |
| Diluted EPS | | $1.92 | $2.63 | $1.30 | $1.60 | $0.82 | $0.77 | $1.09 |
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| Shares outstanding (basic) | | 14.8 | 15.7 | 17.2 | 17.3 | 17.5 | 17.8 | 18.0 |
| Shares outstanding (diluted) | | 15.1 | 16.0 | 17.4 | 17.5 | 17.6 | 17.9 | 18.1 |
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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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