CBU FY 2017 Earnings Report — Community Bank System, Inc. Revenue & Financial Results | Market Cap Arena

Community Bank System, Inc.CBU

FY 2017 Earnings

Reported March 1, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$532M	—	$441M	—	20.7%
Op. Income	$160M	—	$155M	—	3.5%
Gross Margin	95.3%	—	95.6%	—	-0.3pp
Net Margin	28.3%	—	23.6%	—	4.8pp
EPS (Diluted)	$3.03	—	$2.32	—	30.6%
Free Cash Flow	$179M	—	$123M	—	45.0%

Revenue Flow

Item	Amount
REVENUE	$532M
Cost of Revenue	$25M
GROSS PROFIT	$507M
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$224M
SG&A Expenses	$234M
Other Expenses	$113M
Operating Expenses	$347M
Cost & Expenses	$372M
OPERATING INCOME	$160M
Interest Income	$329M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$160M
Income Tax Expense	$9M
Net Income from Continuing Ops	$151M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$151M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$150M
D&A	$33M
EBIT	$160M
EBITDA	$193M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$532M
Cost of Revenue	$25M
GROSS PROFIT	$507M
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$224M
SG&A Expenses	$234M
Other Expenses	$113M
Operating Expenses	$347M
Cost & Expenses	$372M
OPERATING INCOME	$160M
Interest Income	$329M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$160M
Income Tax Expense	$9M
Net Income from Continuing Ops	$151M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$151M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$150M
D&A	$33M
EBIT	$160M
EBITDA	$193M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$151M
Depreciation & Amortization	$33M
Stock-Based Compensation	$5M
Deferred Income Tax	-$29M
Other Non-Cash Items	$3M
Change in Working Capital	$26M
OPERATING CASH FLOW	$190M
Capital Expenditure	-$11M
Acquisitions (Net)	-$108M
Purchases of Investments	-$104M
Sales/Maturities of Investments	$187M
Other Investing Activities	$167M
NET CASH FROM INVESTING	$131M
Net Debt Issuance	-$145M
Common Stock Repurchased	-$3M
Common Dividends Paid	-$62M
Other Financing Activities	-$78M
NET CASH FROM FINANCING	-$274M
FREE CASH FLOW	$179M
Net Change in Cash	$47M

Balance Sheet

Item	Amount
Cash & Equivalents	$221M
Short-Term Investments	$3.0B
Net Receivables	$36M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.3B
PP&E (Net)	$123M
Goodwill	$734M
Intangible Assets	$91M
Long-Term Investments	$6.3B
Tax Assets	$0
Other Non-Current Assets	$249M
TOTAL NON-CURRENT ASSETS	$7.5B
TOTAL ASSETS	$10.7B
Account Payables	$181M
Short-Term Debt	$361M
Deferred Revenue	$0
Other Current Liabilities	$8.4B
TOTAL CURRENT LIABILITIES	$9.0B
Long-Term Debt	$125M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$125M
TOTAL LIABILITIES	$9.1B
Common Stock	$51M
Additional Paid-In Capital	$895M
Retained Earnings	$701M
Treasury Stock	-$21M
Accum. Other Comp. Income	-$4M
Other Equity	$13M
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$0
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$10.7B
Total Debt	$486M
Net Debt	$265M