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Primerica, Inc. (PRI)
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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: |
| Senior Health Segment | 60.4 | | | | | | | |
| United States | 2,311.1 | 1,895.7 | 1,747.6 | 1,607.1 | 1,419.7 | 1,281.6 | 1,172.5 | 1,094.7 |
| Term life insurance | 1,575.7 | 1,382.8 | 1,227.2 | 1,123.2 | 992.2 | 866.4 | 764.0 | 692.4 |
| Investment and savings products | 941.8 | 718.9 | 691.6 | 655.1 | 572.7 | 524.6 | 521.3 | 511.1 |
| Total revenues | 2,709.7 | 2,217.5 | 2,052.5 | 1,899.8 | 1,689.1 | 1,519.1 | 1,404.2 | 1,337.1 |
| Revenue growth | 22.2% | 8.0% | 8.0% | 12.5% | 11.2% | 8.2% | 5.0% | 8.8% |
| Loss and loss adjustment expenses | 722.8 | 615.6 | 493.8 | 457.6 | 416.0 | 367.7 | 339.3 | 311.4 |
| Policy acquisition costs | 251.2 | 224.3 | 254.6 | 239.7 | 209.4 | 180.6 | 157.7 | 144.4 |
| Other underwriting costs | 202.6 | 188.1 | 178.8 | 168.2 | 147.3 | 132.3 | 123.0 | 113.9 |
| Investment expenses | 4.8 | 7.4 | 8.9 | 8.1 | 5.5 | 4.9 | 4.9 | 4.9 |
| Other operating expenses | 986.7 | 646.5 | 610.5 | 581.4 | 502.9 | 467.3 | 454.7 | 452.3 |
| Equity in earnings | | | | 0.5 | 2.9 | 7.5 | 5.2 | -3.8 |
| EBITDA | 638.7 | 553.3 | 524.2 | 457.3 | 421.6 | 380.9 | 335.5 | 322.6 |
| EBITDA margin | 23.6% | 24.9% | 25.5% | 24.1% | 25.0% | 25.1% | 23.9% | 24.1% |
| Depreciation | 29.8 | 17.7 | 18.3 | 12.4 | 13.6 | 14.6 | 11.0 | 12.3 |
| EBIT | 608.9 | 535.6 | 505.9 | 444.9 | 408.0 | 366.3 | 324.5 | 310.3 |
| EBIT margin | 22.5% | 24.2% | 24.6% | 23.4% | 24.2% | 24.1% | 23.1% | 23.2% |
| Interest expense, net [+] | 39.5 | 28.8 | 28.8 | 28.8 | 28.5 | 28.7 | 33.5 | 34.6 |
| Interest expense | 30.6 | 28.8 | 28.8 | 28.8 | 28.5 | 28.7 | 33.5 | 34.6 |
| Interest income | -8.9 | | | | | | | |
| Pre-tax income | 511.2 | 506.7 | 477.1 | 416.1 | 379.5 | 337.6 | 291.0 | 275.7 |
| Income taxes | 139.2 | 120.6 | 110.7 | 92.0 | 29.3 | 118.2 | 101.1 | 95.9 |
| Tax rate | 27.2% | 23.8% | 23.2% | 22.1% | 7.7% | 35.0% | 34.7% | 34.8% |
| Minority interest | -1.4 | | | | | | | |
| Earnings from continuing ops | 373.4 | 386.2 | 366.4 | 324.1 | 350.3 | 219.4 | 189.9 | 178.3 |
| Earnings from discontinued ops | | | | | | | | 1.6 |
| Net income | 373.4 | 386.2 | 366.4 | 324.1 | 350.3 | 219.4 | 189.9 | 179.8 |
| Net margin | 13.8% | 17.4% | 17.9% | 17.1% | 20.7% | 14.4% | 13.5% | 13.4% |
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| Basic EPS | $9.44 | $9.64 | $8.69 | $7.39 | $7.68 | $4.63 | $3.73 | $3.27 |
| Diluted EPS | $9.42 | $9.61 | $8.66 | $7.37 | $7.67 | $4.62 | $3.73 | $3.26 |
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| Shares outstanding (basic) | 39.5 | 40.1 | 42.2 | 43.9 | 45.6 | 47.4 | 50.9 | 54.6 |
| Shares outstanding (diluted) | 39.7 | 40.2 | 42.3 | 44.0 | 45.7 | 47.5 | 50.9 | 54.6 |
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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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