Cash flow Legal & General Plc

Equities

LGEN

GB0005603997

Investment Management & Fund Operators

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31db5274196308.zd_RGponuIbwEplGRWDkVJoVZrw-xLz2DwCrCB0A0gA.jLSXUdhP2-S2V_EcLSKhFvdUA9lXqPXCa035P01NgmiipYl_3RTU9rdbzA

Published financial data: LEGAL & GENERAL PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Premiums and Annuity Revenues	11.68B	9.37B	6.97B	8.53B	9.62B
Total Interest And Dividend Income	7.2B	7.76B	1.72B	-20.32B	-18.62B
Asset Management Fee	834M	873M	959M	899M	825M
Gain (Loss) on Sale of Investments, Total (Rev)	43M	-	-	-	20.15B
Other Revenues, Total	-	-	-	-	-
Total Revenues	19.77B	18B	9.65B	-10.89B	11.98B
Policy Benefits	15.5B	14.17B	4.38B	-16.44B	8.51B
Policy Acquisition / Underwriting Costs, Total	805M	617M	825M	834M	149M
Selling General & Admin Expenses, Total	-	-	4M	-	-
Stock-Based Compensation (IS)	-	-	-	-	-
Other Operating Expenses	1.04B	1.41B	1.46B	1.69B	1.85B
Total Operating Expenses	17.35B	16.2B	6.68B	-13.91B	10.51B
Operating Income	2.42B	1.8B	2.98B	3.02B	1.47B
Interest Expense, Total	-221M	-244M	-239M	-222M	-347M
Other Non Operating Income (Expenses)	-48M	-61M	-55M	-68M	-
EBT, Excl. Unusual Items	2.15B	1.5B	2.68B	2.73B	1.13B
Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Asset Writedown	-	-	-49M	-	-931M
Other Unusual Items	8M	-	-	-	-
EBT, Incl. Unusual Items	2.16B	1.5B	2.63B	2.73B	195M
Income Tax Expense	369M	218M	589M	440M	-248M
Earnings From Continuing Operations	1.79B	1.28B	2.04B	2.29B	443M
Earnings Of Discontinued Operations	23M	290M	-	-	-
Net Income to Company	1.81B	1.57B	2.04B	2.29B	443M
Minority Interest	24M	36M	7M	1M	14M
Net Income - (IS)	1.83B	1.61B	2.05B	2.29B	457M
Preferred Dividend and Other Adjustments	-	6M	23M	23M	22M
Net Income to Common Incl Extra Items	1.83B	1.6B	2.03B	2.27B	435M
Net Income to Common Excl. Extra Items	1.81B	1.31B	2.03B	2.27B	435M
Per Share Items
Net EPS - Basic	0.31	0.27	0.34	0.38	0.07
Basic EPS - Continuing Operations	0.31	0.22	0.34	0.38	0.07
Basic Weighted Average Shares Outstanding	5.93B	5.93B	5.93B	5.92B	5.92B
Net EPS - Diluted	0.31	0.26	0.33	0.36	0.07
Diluted EPS - Continuing Operations	0.3	0.21	0.33	0.36	0.07
Diluted Weighted Average Shares Outstanding	5.96B	6.28B	6.3B	6.28B	6.28B
Normalized Basic EPS	0.23	0.16	0.28	0.29	0.12
Normalized Diluted EPS	0.23	0.15	0.27	0.27	0.11
Dividend Per Share	0.18	0.18	0.18	0.19	0.2
Payout Ratio	54.42	65.65	53.22	49.93	262.58
American Depositary Receipts Ratio (ADR)	5	5	5	5	5
Supplemental Items
EBITDA	2.45B	1.84B	3.08B	3.04B	1.49B
EBITA	2.44B	1.82B	3.06B	3.02B	1.47B
EBIT	2.42B	1.8B	2.98B	3.02B	1.47B
EBITDAR	-	-	3.08B	-	1.49B
Total Revenues (As Reported)	66.79B	50.23B	45.45B	-89.29B	-
Effective Tax Rate - (Ratio)	17.12	14.54	22.38	16.12	-127.18
Total Current Taxes	478M	333M	531M	446M	120M
Total Deferred Taxes	111M	-147M	34M	15M	-357M
Normalized Net Income	1.37B	973M	1.68B	1.71B	718M
Interest on Long-Term Debt	13M	11M	10M	8M	7M
Non-Cash Pension Expense	15M	23M	15M	18M	26M
Supplemental Operating Expense Items
Net Rental Expense, Total	-	-	4M	-	2M
Imputed Operating Lease Interest Expense	-	-	110K	-	78.82K
Imputed Operating Lease Depreciation	-	-	3.89M	-	1.92M
Stock-Based Comp., Other (Total)	39M	43M	33M	54M	59M
Total Stock-Based Compensation	39M	43M	33M	54M	59M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Investment In Debt Securities	-	-	297B	218B	8.03B
Investment In Equity and Preferred Securities, Total	324M	288M	213B	168B	616M
Trading Asset Securities, Total	-	-	-	-	461B
Real Estate Owned	7.7B	8.48B	10.15B	9.37B	8.89B
Mortgage Loans	-	-	-	-	-
Policy Loans	-	-	-	27M	-
Total Other Investments	498B	526B	-	-	2.02B
Total investments	506B	535B	521B	396B	481B
Cash And Equivalents	13.92B	18.02B	16.49B	35.78B	20.51B
Reinsurance Recoverable - (IS)	5.81B	7.01B	7.26B	7.25B	7.31B
Other Receivables - (Insurance Template)	468M	7.28B	17.86B	24.97B	7.54B
Deferred Policy Acquisition Costs - (BS)	75M	47M	26M	30M	-
Gross Property Plant And Equipment	-	-	-	-	681M
Accumulated Depreciation	-	-	-	-	-248M
Net Property Plant And Equipment	298M	274M	316M	326M	433M
Goodwill	64M	68M	68M	71M	73M
Other Intangibles, Total	187M	329M	365M	441M	477M
Restricted Cash	-	-	-	-	-
Other Current Assets, Total	24.84B	2.43B	19.12B	47.78B	2.35B
Deferred Tax Assets Long-Term (Collected)	8M	5M	2M	180M	1.71B
Other Long-Term Assets, Total	8.54B	271M	624M	750M	810M
Total Assets	561B	571B	583B	513B	522B
Liabilities
Accrued Expenses, Total	-	410M	454M	517M	508M
Insurance And Annuity Liabilities	77.32B	89.03B	89.82B	70.34B	91.45B
Unpaid Claims	-	-	-	-	-
Unearned Premiums	-	-	-	-	-
Reinsurance Payable - (BS)	-	-	-	-	220M
Current Portion of Long-Term Debt	-	-	-	124M	-
Current Portion of Leases	35M	34M	35M	29M	30M
Short-Term Borrowings	56.88B	70.04B	57.22B	69.52B	59.43B
Long-Term Debt	5.11B	5.61B	5.19B	5.38B	6.06B
Long-Term Leases	241M	201M	174M	148M	144M
Current Income Taxes Payable	107M	61M	84M	69M	77M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	30.12B	7.02B	4.83B	44.9B	45.8B
Unearned Revenue Non Current	-	2M	26M	40M	29M
Pension & Other Post Retirement Benefits	-	1.16B	1.02B	617M	14M
Deferred Tax Liability Non-Current	371M	207M	251M	428M	107M
Other Non Current Liabilities	381B	387B	413B	309B	313B
Total Liabilities	551B	561B	572B	501B	517B
Common Stock, Total	149M	149M	149M	149M	149M
Additional Paid In Capital	1B	1.01B	1.01B	1.02B	1.03B
Retained Earnings	8.03B	8.22B	9.23B	10.33B	2.97B
Treasury Stock	-65M	-75M	-99M	-144M	-147M
Comprehensive Income and Other	250M	693M	691M	813M	821M
Total Common Equity	9.37B	10B	10.98B	12.17B	4.83B
Minority Interest	55M	-31M	-38M	-29M	-42M
Total Equity	9.42B	9.97B	10.94B	12.14B	4.78B
Total Liabilities And Equity	561B	571B	583B	513B	522B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	5.93B	5.93B	5.93B	5.91B	5.92B
ECS Total Common Shares Outstanding	5.93B	5.93B	5.93B	5.91B	5.92B
Book Value / Share	1.58	1.69	1.85	1.97	0.73
Tangible Book Value	9.12B	9.6B	10.55B	11.66B	4.28B
Tangible Book Value Per Share	1.54	1.62	1.78	1.89	0.64
Total Debt	62.27B	75.89B	62.62B	75.21B	65.66B
Net Debt	48.35B	57.87B	46.13B	39.42B	45.15B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1.11B	1.16B	1.02B	617M	14M
Debt Equivalent Oper. Leases	-	-	32M	-	16M
Minority Interest, Total (Incl. Fin. Div)	55M	-31M	-38M	-29M	-42M
Equity Method Investments, Total	324M	288M	375M	554M	616M
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	8.54K	10.1K	10.74K	11.5K	11.96K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1.83B	1.61B	2.05B	2.29B	457M
Depreciation, Depletion & Amortization	45M	52M	53M	57M	48M
Amortization of Goodwill and Intangible Assets - (CF)	26M	21M	89M	1M	-
Total Depreciation, Depletion & Amortization	71M	73M	142M	58M	48M
Amortization of Deferred Charges, Total	-	-	-	45M	48M
(Gain) Loss on Sale of Investments - (CF)	-45.52B	-28.53B	-26.06B	109B	-21.57B
Total Asset Writedown	63M	-	-	-	39M
Amort. Of Deferred Policy Acq. Costs - (CF)	-	-	-	-	-
Change in Trading Asset Securities	-18.03B	6.52B	4.62B	20.89B	-8.82B
Change in insurance Reserves / Liabilities	13.09B	11.61B	726M	-20.28B	11.15B
Change in Other Net Operating Assets (Collected)	45.19B	13.58B	18.37B	-91.4B	6.46B
Other Operating Activities	11M	-557M	-7M	-541M	-2.06B
Cash from Operations	-3.28B	4.3B	-169M	20.46B	-14.24B
Capital Expenditure	-89M	-164M	-205M	-187M	-237M
Cash Acquisitions	-41M	-	-	-2M	-9M
Divestitures	8M	-	394M	-	-
Investment in Marketable and Equity Securities, Total	29M	-16M	-56M	-37M	-176M
Other Investing Activities, Total	231M	-277M	-	-	-
Cash from Investing	138M	-457M	133M	-226M	-422M
Long-Term Debt Issued, Total	1.31B	1.09B	449M	945M	1.23B
Total Debt Issued	1.31B	1.09B	449M	945M	1.23B
Long-Term Debt Repaid, Total	-991M	-538M	-835M	-781M	-576M
Total Debt Repaid	-991M	-538M	-835M	-781M	-576M
Issuance of Common Stock	8M	501M	6M	6M	12M
Repurchase of Common Stock	-20M	-23M	-34M	-59M	-18M
Common Dividends Paid	-998M	-1.06B	-1.09B	-1.14B	-1.2B
Common & Preferred Stock Dividends Paid	-998M	-1.06B	-1.09B	-1.14B	-1.2B
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-692M	-29M	-1.5B	-1.03B	-556M
Foreign Exchange Rate Adjustments	-16M	-28M	8M	92M	-49M
Miscellaneous Cash Flow Adjustments	-310M	-	-	-	-
Net Change in Cash	-4.16B	3.79B	-1.53B	19.3B	-15.27B
Supplemental Items
Cash Interest Paid	263M	301M	301M	290M	469M
Cash Income Tax Paid (Refund)	374M	417M	376M	366M	7M
Net Debt Issued / Repaid	318M	548M	-386M	164M	650M
Levered Free Cash Flow	1.87B	-7.99B	8.27B	-36.62B	-25.57B
Unlevered Free Cash Flow	2.01B	-7.83B	8.42B	-36.48B	-25.35B
Change In Net Working Capital	-476M	8.91B	-6.59B	38.34B	26.19B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.29	0.2	0.32	0.34	0.18
Return on Total Capital	2.34	1.43	2.33	2.34	1.22
Return On Equity %	19.77	13.44	19.54	19.84	8.59
Return on Common Equity	20.18	13.77	19.32	19.59	8.38
Margin Analysis
Gross Profit Margin %	17.5	17.87	46.02	-43.29	27.75
SG&A Margin	-	-	0.04	-	-
EBITDA Margin %	12.4	10.2	31.9	-27.91	12.44
EBITA Margin %	12.36	10.14	31.75	-27.74	12.29
EBIT Margin %	12.23	10.02	30.83	-27.73	12.29
Income From Continuing Operations Margin %	9.04	7.12	21.17	-21.03	3.7
Net Income Margin %	9.28	8.93	21.24	-21.04	3.81
Net Avail. For Common Margin %	9.16	7.28	21	-20.83	3.63
Normalized Net Income Margin	6.91	5.4	17.43	-15.68	5.99
Levered Free Cash Flow Margin	9.46	-44.37	85.72	336.27	-213.34
Unlevered Free Cash Flow Margin	10.16	-43.52	87.27	334.99	-211.53
Asset Turnover
Asset Turnover	0.04	0.03	0.02	-0.02	0.02
Fixed Assets Turnover	111.36	62.94	32.72	-33.92	31.58
Receivables Turnover (Average Receivables)	-	-	133.12	-150.19	-47.49
Inventory Turnover (Average Inventory)	-	-	2.47	-7.77	4.43
Short Term Liquidity
Current Ratio	0.52	0.45	0.78	0.88	4.71
Quick Ratio	0.17	0.32	0.36	0.4	4.61
Operating Cash Flow to Current Liabilities	-0.04	0.06	-0	0.18	-0.13
Days Sales Outstanding (Average Receivables)	-	-	2.74	-2.43	-7.69
Days Outstanding Inventory (Average Inventory)	-	-	147.93	-46.98	82.3
Average Days Payable Outstanding	-	-	-	-	5.76
Cash Conversion Cycle (Average Days)	-	-	-	-	68.86
Long Term Solvency
Total Debt/Equity	660.91	761.47	572.22	619.54	1.37K
Total Debt / Total Capital	86.86	88.39	85.12	86.1	93.21
LT Debt/Equity	56.8	58.34	49	45.54	129.66
Long-Term Debt / Total Capital	7.47	6.77	7.29	6.33	8.81
Total Liabilities / Total Assets	98.32	98.25	98.12	97.63	99.08
EBIT / Interest Expense	10.94	7.39	12.45	13.6	4.24
EBITDA / Interest Expense	11.26	7.69	13.04	13.86	4.38
(EBITDA - Capex) / Interest Expense	10.86	7.02	12.18	13.02	3.7
Total Debt / EBITDA	25.03	40.43	20.09	24.43	43.17
Net Debt / EBITDA	19.43	30.83	14.8	12.81	29.68
Total Debt / (EBITDA - Capex)	25.96	44.3	21.5	26.01	51.14
Net Debt / (EBITDA - Capex)	20.15	33.78	15.84	13.64	35.16
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	79.83	-8.74	-46.39	-212.83	0.26
Gross Profit, 1 Yr. Growth %	19.56	-5.83	38.05	6.15	-20.98
EBITDA, 1 Yr. Growth %