CACC FY 2012 Earnings Report — Credit Acceptance Corporation Revenue & Financial Results | Market Cap Arena

Credit Acceptance CorporationCACC

FY 2012 Earnings

Reported February 20, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$609M	—	$523M	—	16.3%
Op. Income	$342M	—	$295M	—	16.2%
Gross Margin	70.4%	—	71.2%	—	-0.9pp
Net Margin	36.1%	—	35.9%	—	0.2pp
EPS (Diluted)	$8.58	—	$7.07	—	21.4%
Free Cash Flow	$300M	—	$269M	—	11.3%

Revenue Flow

Item	Amount
REVENUE	$609M
Cost of Revenue	$180M
GROSS PROFIT	$428M
R&D Expenses	$0
Selling & Marketing	$31M
General & Administrative	$31M
SG&A Expenses	$62M
Other Expenses	$24M
Operating Expenses	$86M
Cost & Expenses	$266M
OPERATING INCOME	$342M
Interest Income	$0
Interest Expense	$63M
Other Income/Expenses	$700.0K
INCOME BEFORE TAX	$343M
Income Tax Expense	$123M
Net Income from Continuing Ops	$220M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$220M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$220M
D&A	$12M
EBIT	$342M
EBITDA	$355M
EPS	$9
EPS Diluted	$9

Income Statement

Item	Amount
REVENUE	$609M
Cost of Revenue	$180M
GROSS PROFIT	$428M
R&D Expenses	$0
Selling & Marketing	$31M
General & Administrative	$31M
SG&A Expenses	$62M
Other Expenses	$24M
Operating Expenses	$86M
Cost & Expenses	$266M
OPERATING INCOME	$342M
Interest Income	$0
Interest Expense	$63M
Other Income/Expenses	$700.0K
INCOME BEFORE TAX	$343M
Income Tax Expense	$123M
Net Income from Continuing Ops	$220M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$220M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$220M
D&A	$12M
EBIT	$342M
EBITDA	$355M
EPS	$9
EPS Diluted	$9

Cash Flow Statement

Item	Amount
Net Income	$220M
Depreciation & Amortization	$12M
Stock-Based Compensation	$12M
Deferred Income Tax	$25M
Other Non-Cash Items	$24M
Change in Working Capital	$16M
OPERATING CASH FLOW	$309M
Capital Expenditure	-$9M
Acquisitions (Net)	$0
Purchases of Investments	-$57M
Sales/Maturities of Investments	$10M
Other Investing Activities	-$345M
NET CASH FROM INVESTING	-$401M
Net Debt Issuance	$253M
Common Stock Repurchased	-$153M
Common Dividends Paid	$0
Other Financing Activities	-$4M
NET CASH FROM FINANCING	$97M
FREE CASH FLOW	$300M
Net Change in Cash	$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$9M
Short-Term Investments	$0
Net Receivables	$1.9B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$22M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$148M
Other Non-Current Assets	-$120M
TOTAL NON-CURRENT ASSETS	$51M
TOTAL ASSETS	$2.1B
Account Payables	$106M
Short-Term Debt	$150M
Deferred Revenue	$0
Other Current Liabilities	-$256M
TOTAL CURRENT LIABILITIES	$112M
Long-Term Debt	$1.1B
Deferred Revenue NC	$1.3B
Deferred Tax Liabilities	$148M
Other Non-Current Liabilities	$256M
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$1.5B
Common Stock	$200.0K
Additional Paid-In Capital	$54M
Retained Earnings	$568M
Treasury Stock	-$152M
Accum. Other Comp. Income	-$100.0K
Other Equity	$152M
TOTAL STOCKHOLDERS' EQUITY	$622M
Minority Interest	$0
TOTAL EQUITY	$622M
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$1.3B
Net Debt	$1.2B