CBU FY 2015 Earnings Report — Community Bank System, Inc. Revenue & Financial Results | Market Cap Arena

Community Bank System, Inc.CBU

FY 2015 Earnings

Reported February 29, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$383M	—	$375M	—	2.0%
Op. Income	$132M	—	$130M	—	1.9%
Gross Margin	95.4%	—	94.9%	—	0.4pp
Net Margin	23.8%	—	24.3%	—	-0.5pp
EPS (Diluted)	$2.19	—	$2.22	—	-1.4%
Free Cash Flow	$107M	—	$109M	—	-1.4%

Revenue Flow

Item	Amount
REVENUE	$383M
Cost of Revenue	$18M
GROSS PROFIT	$365M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$167M
SG&A Expenses	$174M
Other Expenses	$59M
Operating Expenses	$233M
Cost & Expenses	$251M
OPERATING INCOME	$132M
Interest Income	$260M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$132M
Income Tax Expense	$41M
Net Income from Continuing Ops	$91M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$91M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$91M
D&A	$17M
EBIT	$132M
EBITDA	$149M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$383M
Cost of Revenue	$18M
GROSS PROFIT	$365M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$167M
SG&A Expenses	$174M
Other Expenses	$59M
Operating Expenses	$233M
Cost & Expenses	$251M
OPERATING INCOME	$132M
Interest Income	$260M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$132M
Income Tax Expense	$41M
Net Income from Continuing Ops	$91M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$91M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$91M
D&A	$17M
EBIT	$132M
EBITDA	$149M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$91M
Depreciation & Amortization	$17M
Stock-Based Compensation	$4M
Deferred Income Tax	$11M
Other Non-Cash Items	$2M
Change in Working Capital	-$6M
OPERATING CASH FLOW	$120M
Capital Expenditure	-$12M
Acquisitions (Net)	$26M
Purchases of Investments	-$503M
Sales/Maturities of Investments	$392M
Other Investing Activities	-$177M
NET CASH FROM INVESTING	-$274M
Net Debt Issuance	-$37M
Common Stock Repurchased	-$9M
Common Dividends Paid	-$49M
Other Financing Activities	$238M
NET CASH FROM FINANCING	$169M
FREE CASH FLOW	$107M
Net Change in Cash	$15M

Balance Sheet

Item	Amount
Cash & Equivalents	$153M
Short-Term Investments	$2.8B
Net Receivables	$26M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.0B
PP&E (Net)	$114M
Goodwill	$463M
Intangible Assets	$21M
Long-Term Investments	$4.8B
Tax Assets	$0
Other Non-Current Assets	$205M
TOTAL NON-CURRENT ASSETS	$5.6B
TOTAL ASSETS	$8.6B
Account Payables	$135M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$6.9B
TOTAL CURRENT LIABILITIES	$7.0B
Long-Term Debt	$403M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$403M
TOTAL LIABILITIES	$7.4B
Common Stock	$44M
Additional Paid-In Capital	$528M
Retained Earnings	$567M
Treasury Stock	-$18M
Accum. Other Comp. Income	$19M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$8.6B
Total Debt	$403M
Net Debt	$250M