CBU FY 2012 Earnings Report — Community Bank System, Inc. Revenue & Financial Results | Market Cap Arena

Community Bank System, Inc.CBU

FY 2012 Earnings

Reported March 1, 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	$381M	—	$360M	—	5.7%
Op. Income	$109M	—	$104M	—	5.1%
Gross Margin	84.2%	—	81.6%	—	2.6pp
Net Margin	20.2%	—	20.3%	—	-0.1pp
EPS (Diluted)	$1.93	—	$2.01	—	-4.0%
Free Cash Flow	$98M	—	$85M	—	15.1%

Revenue Flow

Item	Amount
REVENUE	$381M
Cost of Revenue	$60M
GROSS PROFIT	$321M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$145M
SG&A Expenses	$151M
Other Expenses	$61M
Operating Expenses	$212M
Cost & Expenses	$272M
OPERATING INCOME	$109M
Interest Income	$281M
Interest Expense	$51M
Other Income/Expenses	$0
INCOME BEFORE TAX	$109M
Income Tax Expense	$32M
Net Income from Continuing Ops	$77M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$77M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$77M
D&A	$17M
EBIT	$109M
EBITDA	$126M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$381M
Cost of Revenue	$60M
GROSS PROFIT	$321M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$145M
SG&A Expenses	$151M
Other Expenses	$61M
Operating Expenses	$212M
Cost & Expenses	$272M
OPERATING INCOME	$109M
Interest Income	$281M
Interest Expense	$51M
Other Income/Expenses	$0
INCOME BEFORE TAX	$109M
Income Tax Expense	$32M
Net Income from Continuing Ops	$77M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$77M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$77M
D&A	$17M
EBIT	$109M
EBITDA	$126M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$77M
Depreciation & Amortization	$17M
Stock-Based Compensation	$4M
Deferred Income Tax	$12M
Other Non-Cash Items	-$828.0K
Change in Working Capital	-$292.0K
OPERATING CASH FLOW	$108M
Capital Expenditure	-$11M
Acquisitions (Net)	$601M
Purchases of Investments	-$864M
Sales/Maturities of Investments	$249M
Other Investing Activities	-$239M
NET CASH FROM INVESTING	-$264M
Net Debt Issuance	-$220.0K
Common Stock Repurchased	$0
Common Dividends Paid	-$41M
Other Financing Activities	$36M
NET CASH FROM FINANCING	$60M
FREE CASH FLOW	$98M
Net Change in Cash	-$96M

Balance Sheet

Item	Amount
Cash & Equivalents	$229M
Short-Term Investments	$2.1B
Net Receivables	$32M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.4B
PP&E (Net)	$90M
Goodwill	$370M
Intangible Assets	$17M
Long-Term Investments	$4.5B
Tax Assets	$0
Other Non-Current Assets	$172M
TOTAL NON-CURRENT ASSETS	$5.1B
TOTAL ASSETS	$7.5B
Account Payables	$136M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$5.6B
TOTAL CURRENT LIABILITIES	$5.8B
Long-Term Debt	$830M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$830M
TOTAL LIABILITIES	$6.6B
Common Stock	$40M
Additional Paid-In Capital	$378M
Retained Earnings	$447M
Treasury Stock	-$17M
Accum. Other Comp. Income	$54M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$903M
Minority Interest	$0
TOTAL EQUITY	$903M
TOTAL LIABILITIES & EQUITY	$7.5B
Total Debt	$830M
Net Debt	$602M