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HANOVER INSURANCE GROUP, INC. (THG)
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Commercial Lines | | | | 3,023.6 | 2,921.7 | 2,739.6 | | |
| Personal Lines | | | | 1,991.9 | 1,865.0 | 1,732.4 | | |
| Total revenues | 5,844.9 | 5,420.1 | 5,102.8 | 4,890.7 | 4,494.3 | 4,267.9 | 4,053.9 | 5,034.0 |
| Revenue growth | 7.8% | 6.2% | 4.3% | 8.8% | 5.3% | 5.3% | -19.5% | -0.7% |
| Loss and loss adjustment expenses | 3,623.4 | 3,134.2 | 2,845.2 | 2,865.5 | 2,724.6 | 2,579.6 | 2,546.0 | 2,884.1 |
| Policy acquisition costs | 1,093.2 | 982.7 | 951.0 | 926.7 | 891.8 | 840.7 | 803.6 | 1,033.2 |
| Investment expenses | 11.4 | 11.0 | 9.6 | 8.7 | 10.2 | 10.0 | | 10.3 |
| Other operating expenses | 972.9 | 770.9 | 852.2 | 530.2 | 540.1 | 499.5 | 586.9 | 606.4 |
| EBITDA | 533.2 | 730.5 | 734.8 | 543.7 | 278.9 | 323.0 | 59.8 | 506.1 |
| EBITDA margin | 9.1% | 13.5% | 14.4% | 11.1% | 6.2% | 7.6% | 1.5% | 10.1% |
| Depreciation | 12.9 | 16.9 | 18.2 | 21.6 | 24.6 | 30.1 | 30.7 | 30.2 |
| EBIT | 520.3 | 713.6 | 716.6 | 522.1 | 254.3 | 292.9 | 29.1 | 475.9 |
| EBIT margin | 8.9% | 13.2% | 14.0% | 10.7% | 5.7% | 6.9% | 0.7% | 9.5% |
| Interest income, net [+] | 0.0 | 0.0 | 0.0 | 73.0 | 57.4 | 90.4 | -176.6 | -48.2 |
| Interest expense | | | | 37.5 | 45.1 | 45.2 | 51.4 | 60.6 |
| Interest income | | | | 110.5 | 102.5 | 135.6 | -125.2 | 12.4 |
| Pre-tax income | 144.0 | 521.3 | 444.8 | 522.1 | 282.5 | 292.9 | 66.0 | 439.4 |
| Income taxes | 27.2 | 101.3 | 82.8 | 93.1 | 43.5 | 76.8 | -1.0 | 108.6 |
| Tax rate | 18.9% | 19.4% | 18.6% | 17.8% | 15.4% | 26.2% | | 24.7% |
| Earnings from continuing ops | 116.8 | 420.0 | 362.0 | 429.0 | 239.0 | 216.1 | 67.0 | 330.8 |
| Earnings from discontinued ops | | | | | | | | 0.7 |
| Net income | 116.0 | 418.7 | 358.7 | 425.1 | 391.0 | 186.2 | 155.1 | 331.5 |
| Net margin | 2.0% | 7.7% | 7.0% | 8.7% | 8.7% | 4.4% | 3.8% | 6.6% |
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| Basic EPS | $3.28 | $11.70 | $9.60 | $10.73 | $5.64 | $5.08 | $1.57 | $7.54 |
| Diluted EPS | $3.24 | $11.54 | $9.50 | $10.57 | $1.86 | $1.68 | $1.55 | $7.38 |
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| Shares outstanding (basic) | 35.6 | 35.9 | 37.7 | 40.0 | 42.4 | 42.5 | 42.8 | 43.9 |
| Shares outstanding (diluted) | 36.1 | 36.4 | 38.1 | 40.6 | 128.4 | 128.5 | 43.2 | 44.8 |
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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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