Protective Life Corp (PL) 2003年年度报告「NYSE」.pdf

1、Right Things.DOING THE2003 Annual ReportHighlightsFINANCIALRevenues$1,957,525$1,962,688$1,609,603 (0.3%)21.9%Net income$217,050$177,355$102,943 22.4%72.3%Operating income per share(1)$2.79$2.48$2.21 12.5%12.2%Net income per share$3.07$2.52$1.47 21.8%71.4%Total assets$24,573,991$21,933,111$19,718,824

2、 12.0%11.2%Share-owners equityexcluding accumulated othercomprehensive income(2)$1,669,559$1,484,788$1,345,816 12.4%10.3%Share-owners equity per shareexcluding accumulated othercomprehensive income(2)$24.20$21.62$19.63 11.9%10.1%Market price of common stock$33.84$27.52$28.93 23.0%(4.9%)FOR THE YEARA

3、T YEAR ENDRATINGS200320022001CHANGE03/02CHANGE02/01As of the date of this report,the Companys principal operating subsidiary,Protective Life Insurance Company,hasinsurer financial strength ratings of A+(Superior)from A.M.Best,AA(Very Strong)from Standard&Poors,AA-(Very Strong)from Fitch,and Aa3(Exce

4、llent)from Moodys Investors Services.Each of these independent rating agencies has assigned its rating based on a variety of factors,including Protectives operating performance,asset quality,financial flexibility and capitalization.For current information:.(1)“Operating income per share”is a non-GAA

5、P measure which excludes items not considered indicative of the Companys core operations.“Netincome per share”is a GAAP measure to which the non-GAAP measure“operating income per share”may be compared.Unlike operating income per share,net income per share includes realized investment gains and losse

6、s and related amortization,income(loss)from discontinued operations,extraordinary loss and change in accounting principle.For a reconciliation of operating income per share to net income per share please see page 24 ofthis annual report.(2)“Share-owners equity excluding accumulated other comprehensi