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CINCINNATI FINANCIAL CORP (CINF)
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Jun-30-23 | Dec-31-22 | Jun-30-22 | Mar-31-22 | Dec-31-21 | Sep-30-21 | Jun-30-21 | Mar-31-21 |
| | 10-Q | 8-K | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q |
| Revenues: |
| Excess and surplus lines insurance | 133.0 | | 124.0 | 113.0 | 109.0 | 106.0 | 96.0 | 89.0 |
| Life Insurance Segment | 83.0 | | 77.0 | 73.0 | 79.0 | 74.0 | 80.0 | 70.0 |
| Other | 2,389.0 | | 619.0 | 1,029.0 | 3,135.0 | 1,605.0 | 2,119.0 | 2,068.0 |
| Total revenues | 2,605.0 | 3,114.0 | 820.0 | 1,215.0 | 3,323.0 | 1,785.0 | 2,295.0 | 2,227.0 |
| Revenue growth | 217.7% | -6.3% | -64.3% | -45.4% | 23.3% | -19.8% | -15.4% | -2349.5% |
| Loss and loss adjustment expenses | 1,340.0 | | 1,322.0 | 1,039.0 | 946.0 | 1,072.0 | 915.0 | 1,003.0 |
| Policy acquisition costs | 357.0 | | 323.0 | 311.0 | 313.0 | 312.0 | 295.0 | 277.0 |
| Investment expenses | 3.0 | | 3.0 | 4.0 | 3.0 | 4.0 | 3.0 | 4.0 |
| Other operating expenses | 226.0 | 1,827.0 | 212.0 | 208.0 | 201.0 | 200.0 | 197.0 | 162.0 |
| General and administrative | | | | | 1,471.0 | | | |
| EBITDA | | | -1,050.0 | -370.0 | 1,856.0 | 172.0 | 861.0 | 759.0 |
| EBITDA margin | 23.9% | | -128.0% | -30.5% | 55.9% | 9.6% | 37.5% | 34.1% |
| Depreciation | | | 49.0 | 29.0 | 49.0 | 23.0 | 23.0 | 23.0 |
| EBIT | 622.0 | 3,104.0 | -1,099.0 | -399.0 | 1,807.0 | 149.0 | 838.0 | 736.0 |
| EBIT margin | 23.9% | 99.7% | -134.0% | -32.8% | 54.4% | 8.3% | 36.5% | 33.0% |
| Interest income, net [+] | 44.0 | 0.0 | 46.0 | 39.0 | 39.0 | 35.0 | 34.0 | 32.0 |
| Interest expense | 13.0 | | 13.0 | 13.0 | 14.0 | 13.0 | 13.0 | 13.0 |
| Interest income | 57.0 | | 59.0 | 52.0 | 53.0 | 48.0 | 47.0 | 45.0 |
| Pre-tax income | 666.0 | 1,287.0 | -1,053.0 | -360.0 | 1,846.0 | 184.0 | 872.0 | 768.0 |
| Income taxes | 132.0 | 274.0 | -235.0 | -87.0 | 376.0 | 31.0 | 169.0 | 148.0 |
| Tax rate | 19.8% | 21.3% | 22.3% | 24.2% | 20.4% | 16.8% | 19.4% | 19.3% |
| Net income | 534.0 | 1,013.0 | -818.0 | -273.0 | 1,470.0 | 153.0 | 703.0 | 620.0 |
| Net margin | 20.5% | 32.5% | -99.8% | -22.5% | 44.2% | 8.6% | 30.6% | 27.8% |
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| Basic EPS | $3.40 | $6.44 | ($5.13) | ($1.70) | $9.13 | $0.95 | $4.36 | $3.85 |
| Diluted EPS | $3.38 | $6.40 | ($5.13) | ($1.70) | $9.04 | $0.94 | $4.32 | $3.82 |
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| Shares outstanding (basic) | 157.0 | 157.3 | 159.6 | 160.4 | 161.0 | 161.1 | 161.1 | 161.0 |
| Shares outstanding (diluted) | 158.0 | 158.3 | 159.6 | 160.4 | 162.7 | 162.9 | 162.9 | 162.5 |
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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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