CBU FY 2016 Earnings Report — Community Bank System, Inc. Revenue & Financial Results | Market Cap Arena

Community Bank System, Inc.CBU

FY 2016 Earnings

Reported March 1, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$441M	—	$383M	—	15.1%
Op. Income	$155M	—	$132M	—	16.9%
Gross Margin	95.6%	—	95.4%	—	0.2pp
Net Margin	23.6%	—	23.8%	—	-0.3pp
EPS (Diluted)	$2.32	—	$2.19	—	5.9%
Free Cash Flow	$123M	—	$107M	—	15.1%

Revenue Flow

Item	Amount
REVENUE	$441M
Cost of Revenue	$19M
GROSS PROFIT	$421M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$191M
SG&A Expenses	$198M
Other Expenses	$68M
Operating Expenses	$267M
Cost & Expenses	$286M
OPERATING INCOME	$155M
Interest Income	$285M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$155M
Income Tax Expense	$51M
Net Income from Continuing Ops	$104M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$104M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$103M
D&A	$20M
EBIT	$155M
EBITDA	$175M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$441M
Cost of Revenue	$19M
GROSS PROFIT	$421M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$191M
SG&A Expenses	$198M
Other Expenses	$68M
Operating Expenses	$267M
Cost & Expenses	$286M
OPERATING INCOME	$155M
Interest Income	$285M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$155M
Income Tax Expense	$51M
Net Income from Continuing Ops	$104M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$104M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$103M
D&A	$20M
EBIT	$155M
EBITDA	$175M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$104M
Depreciation & Amortization	$20M
Stock-Based Compensation	$5M
Deferred Income Tax	$13M
Other Non-Cash Items	$1M
Change in Working Capital	-$8M
OPERATING CASH FLOW	$136M
Capital Expenditure	-$12M
Acquisitions (Net)	-$575.0K
Purchases of Investments	-$71M
Sales/Maturities of Investments	$118M
Other Investing Activities	-$157M
NET CASH FROM INVESTING	-$122M
Net Debt Issuance	-$155M
Common Stock Repurchased	-$3M
Common Dividends Paid	-$55M
Other Financing Activities	$201M
NET CASH FROM FINANCING	$7M
FREE CASH FLOW	$123M
Net Change in Cash	$21M

Balance Sheet

Item	Amount
Cash & Equivalents	$174M
Short-Term Investments	$2.7B
Net Receivables	$31M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.0B
PP&E (Net)	$112M
Goodwill	$465M
Intangible Assets	$16M
Long-Term Investments	$4.9B
Tax Assets	$0
Other Non-Current Assets	$212M
TOTAL NON-CURRENT ASSETS	$5.7B
TOTAL ASSETS	$8.7B
Account Payables	$144M
Short-Term Debt	$146M
Deferred Revenue	$0
Other Current Liabilities	$7.1B
TOTAL CURRENT LIABILITIES	$7.4B
Long-Term Debt	$102M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$102M
TOTAL LIABILITIES	$7.5B
Common Stock	$45M
Additional Paid-In Capital	$546M
Retained Earnings	$615M
Treasury Stock	-$15M
Accum. Other Comp. Income	$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$8.7B
Total Debt	$248M
Net Debt	$75M