ASB FY 2019 Earnings Report — Associated Banc-Corp Revenue & Financial Results | Market Cap Arena

Associated Banc-CorpASB

FY 2019 Earnings

Reported February 11, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$1.5B	—	$1.5B	—	2.8%
Op. Income	$407M	—	$413M	—	-1.7%
Gross Margin	77.1%	—	81.7%	—	-4.6pp
Net Margin	21.2%	—	22.2%	—	-1.0pp
EPS (Diluted)	$1.91	—	$1.89	—	1.1%
Free Cash Flow	$507M	—	$431M	—	17.7%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$353M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$30M
General & Administrative	$503M
SG&A Expenses	$533M
Other Expenses	$252M
Operating Expenses	$785M
Cost & Expenses	$1.1B
OPERATING INCOME	$407M
Interest Income	$1.2B
Interest Expense	$337M
Other Income/Expenses	$0
INCOME BEFORE TAX	$407M
Income Tax Expense	$80M
Net Income from Continuing Ops	$327M
Net Income from Discontinued Ops	$0
Other Adjustments	$1.0K
NET INCOME	$327M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$312M
D&A	$104M
EBIT	$407M
EBITDA	$511M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$353M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$30M
General & Administrative	$503M
SG&A Expenses	$533M
Other Expenses	$252M
Operating Expenses	$785M
Cost & Expenses	$1.1B
OPERATING INCOME	$407M
Interest Income	$1.2B
Interest Expense	$337M
Other Income/Expenses	$0
INCOME BEFORE TAX	$407M
Income Tax Expense	$80M
Net Income from Continuing Ops	$327M
Net Income from Discontinued Ops	$0
Other Adjustments	$1.0K
NET INCOME	$327M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$312M
D&A	$104M
EBIT	$407M
EBITDA	$511M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$327M
Depreciation & Amortization	$104M
Stock-Based Compensation	$0
Deferred Income Tax	$20M
Other Non-Cash Items	$214M
Change in Working Capital	-$90M
OPERATING CASH FLOW	$574M
Capital Expenditure	-$67M
Acquisitions (Net)	$551M
Purchases of Investments	-$884M
Sales/Maturities of Investments	$2.2B
Other Investing Activities	-$172M
NET CASH FROM INVESTING	$1.6B
Net Debt Issuance	-$335M
Common Stock Repurchased	-$186M
Common Dividends Paid	-$112M
Other Financing Activities	-$1.8B
NET CASH FROM FINANCING	-$2.5B
FREE CASH FLOW	$507M
Net Change in Cash	-$288M

Balance Sheet

Item	Amount
Cash & Equivalents	$581M
Short-Term Investments	$3.3B
Net Receivables	$91M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.9B
PP&E (Net)	$435M
Goodwill	$1.2B
Intangible Assets	$156M
Long-Term Investments	$25.3B
Tax Assets	$0
Other Non-Current Assets	$1.4B
TOTAL NON-CURRENT ASSETS	$28.5B
TOTAL ASSETS	$32.4B
Account Payables	$0
Short-Term Debt	$985M
Deferred Revenue	$0
Other Current Liabilities	$23.8B
TOTAL CURRENT LIABILITIES	$25.2B
Long-Term Debt	$3.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$22M
TOTAL NON-CURRENT LIABILITIES	$3.2B
TOTAL LIABILITIES	$28.5B
Common Stock	$2M
Additional Paid-In Capital	$1.7B
Retained Earnings	$2.4B
Treasury Stock	-$400M
Accum. Other Comp. Income	-$33M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.9B
Minority Interest	$0
TOTAL EQUITY	$3.9B
TOTAL LIABILITIES & EQUITY	$32.4B
Total Debt	$4.2B
Net Debt	$3.6B