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ALLEGHANY CORP (Y)
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Reinsurance | | | | 3,939.0 | 3,808.7 | 3,845.0 | 3,115.5 | 3,330.7 |
| Insurance | | | | | | | 1,114.8 | 1,079.9 |
| Other | | | | 2,948.2 | 2,616.0 | 2,286.0 | 769.2 | 821.2 |
| Total revenues | 3,789.7 | 2,521.1 | 2,328.8 | 6,887.2 | 6,424.7 | 6,131.0 | 4,999.5 | 5,231.8 |
| Revenue growth | 50.3% | 8.3% | -66.2% | 7.2% | 4.8% | 22.6% | -4.4% | 5.2% |
| Loss and loss adjustment expenses | 4,834.9 | 4,339.0 | 3,686.4 | 3,520.4 | 3,620.2 | 2,917.2 | 2,339.8 | 2,494.6 |
| Policy acquisition costs | 1,693.1 | 1,457.0 | 1,392.8 | 1,271.4 | 1,261.7 | 1,253.2 | 1,024.5 | 1,042.0 |
| Investment expenses | 26.5 | 28.6 | 28.9 | 31.5 | 28.1 | 26.3 | 27.2 | 28.8 |
| Other operating expenses | -4,177.6 | -3,461.2 | -3,902.9 | 1,933.5 | 1,394.9 | 1,204.9 | 758.8 | 644.5 |
| General and administrative | | | | | | | | 47.1 |
| EBITDA | 1,511.3 | 289.6 | 1,205.2 | 257.7 | 254.8 | 889.9 | 1,012.2 | 953.9 |
| EBITDA margin | 39.9% | 11.5% | 51.8% | 3.7% | 4.0% | 14.5% | 20.2% | 18.2% |
| Depreciation | 178.0 | 160.0 | 119.5 | 103.3 | 115.6 | 141.5 | 163.1 | 178.9 |
| EBITA | 1,333.3 | 129.6 | 1,085.7 | 154.4 | 139.2 | 748.4 | 849.1 | 774.9 |
| EBITA margin | 35.2% | 5.1% | 46.6% | 2.2% | 2.2% | 12.2% | 17.0% | 14.8% |
| Amortization of intangibles | | | | 24.0 | 19.4 | 19.0 | | |
| EBIT | 1,333.3 | 129.6 | 1,085.7 | 130.3 | 119.8 | 729.4 | 849.1 | 774.9 |
| EBIT margin | 35.2% | 5.1% | 46.6% | 1.9% | 1.9% | 11.9% | 17.0% | 14.8% |
| Interest expense, net [+] | -79.4 | -28.0 | -37.9 | 90.7 | 83.1 | 81.6 | 91.8 | 180.1 |
| Interest expense | | | | 90.7 | 83.1 | 81.6 | 91.8 | 90.1 |
| Interest income | 79.4 | 28.0 | 37.9 | | | | | -90.1 |
| Other income (expense), net | | | | | | | | 247.1 |
| Pre-tax income | 1,412.7 | 157.6 | 1,123.6 | 39.6 | 36.7 | 647.8 | 757.4 | 931.9 |
| Income taxes | 281.9 | 30.7 | 233.4 | -15.1 | -63.8 | 187.1 | 195.2 | 251.8 |
| Tax rate | 20.0% | 19.5% | 20.8% | | | 28.9% | 25.8% | 27.0% |
| Net income | 1,034.9 | 101.8 | 857.8 | 54.7 | 100.5 | 460.7 | 562.2 | 680.1 |
| Net margin | 27.3% | 4.0% | 36.8% | 0.8% | 1.6% | 7.5% | 11.2% | 13.0% |
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| Basic EPS | $74.70 | $7.14 | $59.44 | $3.63 | $6.52 | $29.84 | $35.42 | $41.46 |
| Diluted EPS | $74.66 | $7.12 | $59.39 | $3.63 | $6.52 | $29.83 | $35.40 | $41.46 |
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| Shares outstanding (basic) | 13.9 | 14.3 | 14.4 | 15.1 | 15.4 | 15.4 | 15.9 | 16.4 |
| Shares outstanding (diluted) | 13.9 | 14.3 | 14.4 | 15.1 | 15.4 | 15.4 | 15.9 | 16.4 |
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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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