Great-West Lifeco Inc. (GWLIF)

Great-West Lifeco Income Statement

Financials in millions CAD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	20,989	20,402	19,632	52,813	43,019	24,510
Total Interest & Dividend Income	-2,251	3,523	28,212	6,284	5,513	5,799
Gain (Loss) on Sale of Investments	15,645	6,250	-31,063	-1,944	6,239	7,321
Other Revenue	-1,074	1,068	13,612	7,294	5,902	7,081
Total Revenue	33,309	31,243	30,393	64,447	60,673	44,711
Revenue Growth (YoY)	17.01%	2.80%	-52.84%	6.22%	35.70%	1.61%
Policy Benefits	16,927	16,557	16,105	50,295	48,487	33,091
Policy Acquisition & Underwriting Costs	702	702	637	2,664	2,396	2,429
Amortization of Goodwill & Intangibles	387	366	354	336	238	224
Selling, General & Administrative	6,949	6,402	5,604	6,337	5,492	5,231
Other Operating Expenses	62	62	61	500	480	506
Total Operating Expenses	25,012	24,090	22,803	60,162	57,109	41,531
Operating Income	8,297	7,153	7,590	4,285	3,564	3,180
Interest Expense	-3,809	-3,832	-3,324	-313	-267	-266
Other Non Operating Income (Expenses)	-27	-27	-24	-15	-17	-19
EBT Excluding Unusual Items	4,461	3,294	4,242	3,957	3,280	2,895
Merger & Restructuring Charges	-261	-226	-178	-90	-134	-52
Asset Writedown	-	-	-	-	-74	37
Pretax Income	4,200	3,068	4,064	3,867	3,072	2,880
Income Tax Expense	359	53	394	304	-82	373
Earnings From Continuing Ops.	3,841	3,015	3,670	3,563	3,154	2,507
Earnings From Discontinued Ops.	-74	-124	-32	-	-	-
Net Income to Company	3,767	2,891	3,638	3,563	3,154	2,507
Minority Interest in Earnings	-73	-23	88	-301	-78	-15
Net Income	3,694	2,868	3,726	3,262	3,076	2,492
Preferred Dividends & Other Adjustments	130	130	130	134	133	133
Net Income to Common	3,564	2,738	3,596	3,128	2,943	2,359
Net Income Growth	43.18%	-23.03%	14.22%	6.05%	23.43%	-19.46%
Shares Outstanding (Basic)	932	932	932	929	928	946
Shares Outstanding (Diluted)	935	934	932	931	928	947
Shares Change (YoY)	0.22%	0.13%	0.14%	0.34%	-1.98%	-4.30%
EPS (Basic)	3.82	2.94	3.86	3.37	3.17	2.49
EPS (Diluted)	3.82	2.94	3.86	3.36	3.17	2.49
EPS Growth	45.70%	-23.82%	14.75%	5.93%	27.24%	-16.73%
Free Cash Flow	4,842	4,828	3,772	10,373	9,610	6,110
Free Cash Flow Per Share	5.18	5.17	4.05	11.14	10.36	6.46
Dividend Per Share	2.185	2.080	1.960	1.804	1.752	1.652
Dividend Growth	6.59%	6.12%	8.65%	2.97%	6.05%	6.17%
Operating Margin	24.91%	22.89%	24.97%	6.65%	5.87%	7.11%
Profit Margin	10.70%	8.76%	11.83%	4.85%	4.85%	5.28%
Free Cash Flow Margin	14.54%	15.45%	12.41%	16.10%	15.84%	13.67%
EBITDA	8,771	7,606	8,049	4,740	3,931	3,529
EBITDA Margin	26.33%	24.34%	26.48%	7.35%	6.48%	7.89%
D&A For EBITDA	474	453	459	455	367	349
EBIT	8,297	7,153	7,590	4,285	3,564	3,180
EBIT Margin	24.91%	22.89%	24.97%	6.65%	5.87%	7.11%
Effective Tax Rate	8.55%	1.73%	9.69%	7.86%	-	12.95%
Revenue as Reported	-	-	-	64,417	60,583	44,698

Source: S&P Capital IQ. Insurance template. Financial Sources.