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Enact Holdings, Inc.
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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 |
| | 10-K | 10-K | 10-K | 10-K |
| Revenues | 1,095.0 | 1,117.9 | 1,106.5 | 978.9 |
| Revenue growth | -2.0% | 1.0% | 13.0% | |
| Loss and loss adjustment expenses | -94.2 | 125.5 | 379.8 | 49.9 |
| Policy acquisition costs | 7.8 | 14.7 | 14.2 | 8.4 |
| Investment expenses | 5.5 | 5.5 | 5.5 | 4.4 |
| Other operating expenses | 131.8 | 226.0 | 216.3 | 198.1 |
| Equity in earnings | | | | 115.3 |
| EBIT | 949.9 | 746.2 | 490.7 | 718.2 |
| EBIT margin | 86.7% | 66.8% | 44.3% | 73.4% |
| Interest expense | 51.7 | 51.0 | 18.2 | 0.0 |
| Interest expense | 51.7 | 51.0 | 18.2 | |
| Pre-tax income | 898.2 | 695.2 | 472.4 | 718.2 |
| Income taxes | 194.1 | 148.5 | 102.0 | 155.8 |
| Tax rate | 21.6% | 21.4% | 21.6% | 21.7% |
| Net income | 704.2 | 546.7 | 370.4 | 677.6 |
| Net margin | 64.3% | 48.9% | 33.5% | 69.2% |
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| Basic EPS | $4.32 | $3.36 | $2.27 | $4.16 |
| Diluted EPS | $4.31 | $3.36 | $2.27 | $4.16 |
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| Shares outstanding (basic) | 162.8 | 162.8 | 162.8 | 162.8 |
| Shares outstanding (diluted) | 163.3 | 162.9 | 162.8 | 162.8 |
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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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