BFH FY 2013 Earnings Report — Bread Financial Holdings, Inc. Revenue & Financial Results | Market Cap Arena

Bread Financial Holdings, Inc.BFH

FY 2013 Earnings

Reported February 28, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$4.3B	—	$3.6B	—	18.6%
Op. Income	$1.1B	—	$974M	—	12.8%
Gross Margin	33.9%	—	34.1%	—	-0.2pp
Net Margin	11.5%	—	11.6%	—	-0.1pp
EPS (Diluted)	$7.42	—	$6.58	—	12.8%
Free Cash Flow	$857M	—	$1.0B	—	-15.8%

Revenue Flow

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$2.9B
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$109M
SG&A Expenses	$109M
Other Expenses	$256M
Operating Expenses	$365M
Cost & Expenses	$3.2B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$181M
Other Income/Expenses	-$306M
INCOME BEFORE TAX	$793M
Income Tax Expense	$297M
Net Income from Continuing Ops	$496M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$496M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$496M
D&A	$216M
EBIT	$793M
EBITDA	$1.0B
EPS	$10
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$2.9B
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$109M
SG&A Expenses	$109M
Other Expenses	$256M
Operating Expenses	$365M
Cost & Expenses	$3.2B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$181M
Other Income/Expenses	-$306M
INCOME BEFORE TAX	$793M
Income Tax Expense	$297M
Net Income from Continuing Ops	$496M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$496M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$496M
D&A	$216M
EBIT	$793M
EBITDA	$1.0B
EPS	$10
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$496M
Depreciation & Amortization	$216M
Stock-Based Compensation	$59M
Deferred Income Tax	$43M
Other Non-Cash Items	$329M
Change in Working Capital	-$151M
OPERATING CASH FLOW	$993M
Capital Expenditure	-$135M
Acquisitions (Net)	$34M
Purchases of Investments	-$36M
Sales/Maturities of Investments	$3M
Other Investing Activities	-$1.5B
NET CASH FROM INVESTING	-$1.6B
Net Debt Issuance	$341M
Common Stock Repurchased	-$231M
Common Dividends Paid	$0
Other Financing Activities	$595M
NET CASH FROM FINANCING	$704M
FREE CASH FLOW	$857M
Net Change in Cash	$76M

Balance Sheet

Item	Amount
Cash & Equivalents	$970M
Short-Term Investments	$0
Net Receivables	$8.5B
Inventory	$0
Other Current Assets	$966M
TOTAL CURRENT ASSETS	$10.4B
PP&E (Net)	$299M
Goodwill	$1.7B
Intangible Assets	$460M
Long-Term Investments	$0
Tax Assets	$2M
Other Non-Current Assets	$346M
TOTAL NON-CURRENT ASSETS	$2.8B
TOTAL ASSETS	$13.2B
Account Payables	$210M
Short-Term Debt	$1.4B
Deferred Revenue	$966M
Other Current Liabilities	$1.7B
TOTAL CURRENT LIABILITIES	$4.5B
Long-Term Debt	$6.0B
Deferred Revenue NC	$171M
Deferred Tax Liabilities	$276M
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$7.9B
TOTAL LIABILITIES	$12.4B
Common Stock	$983.0K
Additional Paid-In Capital	$1.5B
Retained Earnings	$2.0B
Treasury Stock	-$2.7B
Accum. Other Comp. Income	-$18M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$856M
Minority Interest	$0
TOTAL EQUITY	$856M
TOTAL LIABILITIES & EQUITY	$13.2B
Total Debt	$7.4B
Net Debt	$6.4B