BOKF FY 2013 Earnings Report — BOK Financial Corporation Revenue & Financial Results | Market Cap Arena

BOK Financial CorporationBOKF

FY 2013 Earnings

Reported February 26, 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	$1.3B	—	$1.4B	—	-5.0%
Op. Income	$482M	—	$543M	—	-11.2%
Gross Margin	96.8%	—	95.3%	—	1.4pp
Net Margin	23.7%	—	25.0%	—	-1.3pp
EPS (Diluted)	$4.59	—	$5.13	—	-10.5%
Free Cash Flow	$524M	—	$497M	—	5.5%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$43M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$23M
General & Administrative	$535M
SG&A Expenses	$558M
Other Expenses	$252M
Operating Expenses	$809M
Cost & Expenses	$852M
OPERATING INCOME	$482M
Interest Income	$745M
Interest Expense	$71M
Other Income/Expenses	$0
INCOME BEFORE TAX	$482M
Income Tax Expense	$163M
Net Income from Continuing Ops	$319M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$317M
Net Income Deductions	-$7.0K
BOTTOM LINE NET INCOME	$313M
D&A	$53M
EBIT	$482M
EBITDA	$535M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$43M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$23M
General & Administrative	$535M
SG&A Expenses	$558M
Other Expenses	$252M
Operating Expenses	$809M
Cost & Expenses	$852M
OPERATING INCOME	$482M
Interest Income	$745M
Interest Expense	$71M
Other Income/Expenses	$0
INCOME BEFORE TAX	$482M
Income Tax Expense	$163M
Net Income from Continuing Ops	$319M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$317M
Net Income Deductions	-$7.0K
BOTTOM LINE NET INCOME	$313M
D&A	$53M
EBIT	$482M
EBITDA	$535M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$319M
Depreciation & Amortization	$53M
Stock-Based Compensation	$7M
Deferred Income Tax	$0
Other Non-Cash Items	$52M
Change in Working Capital	$305M
OPERATING CASH FLOW	$736M
Capital Expenditure	-$212M
Acquisitions (Net)	-$8M
Purchases of Investments	-$4.6B
Sales/Maturities of Investments	$5.3B
Other Investing Activities	-$230M
NET CASH FROM INVESTING	$437M
Net Debt Issuance	-$112M
Common Stock Repurchased	$0
Common Dividends Paid	-$105M
Other Financing Activities	-$1.2B
NET CASH FROM FINANCING	-$1.4B
FREE CASH FLOW	$524M
Net Change in Cash	-$199M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$10.1B
Net Receivables	$134M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$11.4B
PP&E (Net)	$278M
Goodwill	$360M
Intangible Assets	$178M
Long-Term Investments	$13.9B
Tax Assets	$0
Other Non-Current Assets	$914M
TOTAL NON-CURRENT ASSETS	$15.6B
TOTAL ASSETS	$27.0B
Account Payables	$195M
Short-Term Debt	$1.7B
Deferred Revenue	$0
Other Current Liabilities	$20.3B
TOTAL CURRENT LIABILITIES	$22.2B
Long-Term Debt	$1.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$427M
TOTAL NON-CURRENT LIABILITIES	$1.8B
TOTAL LIABILITIES	$24.0B
Common Stock	$4.0K
Additional Paid-In Capital	$899M
Retained Earnings	$2.3B
Treasury Stock	-$202M
Accum. Other Comp. Income	-$26M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$35M
TOTAL EQUITY	$3.1B
TOTAL LIABILITIES & EQUITY	$27.0B
Total Debt	$3.1B
Net Debt	$2.0B