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AMERICAN EQUITY INVESTMENT LIFE HOLDING CO (AEL)
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues | 70.5 | 29.5 | 3,464.3 | 1,547.1 | 3,891.7 | 2,220.3 | 1,518.9 | 2,169.0 |
| Revenue growth | 139.2% | -99.1% | 123.9% | -60.2% | 75.3% | 46.2% | -30.0% | -16.9% |
| Loss and loss adjustment expenses | | | | | 43.2 | 52.5 | 45.5 | 41.8 |
| Policy acquisition costs | 268.3 | 649.6 | 87.7 | 328.0 | 256.0 | 374.0 | 286.1 | 163.6 |
| Investment expenses | 64.4 | 32.5 | 21.8 | 19.6 | 14.6 | 11.5 | 12.0 | 14.2 |
| Other operating expenses | -890.5 | -1,494.0 | 3,013.7 | 608.2 | 3,231.2 | 1,623.8 | 809.2 | 1,753.3 |
| Equity in earnings | | | | | | | 10.2 | -4.0 |
| EBITDA | 802.2 | 1,282.9 | 431.7 | 816.9 | 508.4 | 413.5 | 580.2 | 61.6 |
| EBITDA margin | 1137.4% | 4349.8% | 12.5% | 52.8% | 13.1% | 18.6% | 38.2% | 2.8% |
| Depreciation | 5.5 | 5.2 | 4.1 | 3.5 | 3.9 | 3.9 | 4.6 | 9.5 |
| EBIT | 796.7 | 1,277.7 | 427.7 | 813.4 | 504.4 | 409.7 | 575.6 | 52.1 |
| EBIT margin | 1129.6% | 4332.2% | 12.3% | 52.6% | 13.0% | 18.5% | 37.9% | 2.4% |
| Interest and other income (expense), net | | | | | | | | 1,141.1 |
| Interest income, net [+] | 3,018.5 | 941.6 | 1,968.5 | -565.2 | 3,668.6 | 809.4 | -123.5 | 1,009.7 |
| Interest expense | 25.6 | 25.6 | 25.5 | 25.5 | 30.4 | 28.2 | 28.8 | |
| Interest income | 3,044.1 | 967.2 | 1,994.0 | -539.7 | 3,698.9 | 837.7 | -94.6 | |
| Other income (expense), net | -168.4 | -438.2 | -88.6 | -222.2 | -176.6 | -251.2 | -209.4 | 131.4 |
| Pre-tax income | 602.7 | 816.0 | 315.6 | 565.7 | 316.3 | 130.2 | 337.3 | 196.1 |
| Income taxes | 128.8 | 144.5 | 69.5 | 107.7 | 141.6 | 47.0 | 117.5 | 70.0 |
| Tax rate | 21.4% | 17.7% | 22.0% | 19.0% | 44.8% | 36.1% | 34.8% | 35.7% |
| Net income | 430.3 | 637.9 | 246.1 | 458.0 | 174.6 | 83.2 | 219.8 | 126.0 |
| Net margin | 610.1% | 2163.1% | 7.1% | 29.6% | 4.5% | 3.7% | 14.5% | 5.8% |
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| Basic EPS | $4.58 | $6.93 | $2.70 | $5.07 | $1.96 | $0.98 | $2.78 | $1.69 |
| Diluted EPS | $4.55 | $6.90 | $2.68 | $5.01 | $1.93 | $0.97 | $2.72 | $1.58 |
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| Shares outstanding (basic) | 93.9 | 92.1 | 91.1 | 90.3 | 89.0 | 84.8 | 78.9 | 74.4 |
| Shares outstanding (diluted) | 94.5 | 92.4 | 91.8 | 91.4 | 90.3 | 85.6 | 81.0 | 79.9 |
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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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