CBU FY 2020 Earnings Report — Community Bank System, Inc. Revenue & Financial Results | Market Cap Arena

Community Bank System, Inc.CBU

FY 2020 Earnings

Reported March 1, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$617M	—	$616M	—	0.2%
Op. Income	$206M	—	$209M	—	-1.6%
Gross Margin	94.3%	—	94.3%	—	-0.0pp
Net Margin	26.7%	—	27.4%	—	-0.8pp
EPS (Diluted)	$3.08	—	$3.23	—	-4.6%
Free Cash Flow	$165M	—	$197M	—	-16.3%

Revenue Flow

Item	Amount
REVENUE	$617M
Cost of Revenue	$35M
GROSS PROFIT	$582M
R&D Expenses	$0
Selling & Marketing	$9M
General & Administrative	$228M
SG&A Expenses	$238M
Other Expenses	$138M
Operating Expenses	$376M
Cost & Expenses	$411M
OPERATING INCOME	$206M
Interest Income	$389M
Interest Expense	$21M
Other Income/Expenses	$0
INCOME BEFORE TAX	$206M
Income Tax Expense	$41M
Net Income from Continuing Ops	$165M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$165M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$164M
D&A	$31M
EBIT	$206M
EBITDA	$237M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$617M
Cost of Revenue	$35M
GROSS PROFIT	$582M
R&D Expenses	$0
Selling & Marketing	$9M
General & Administrative	$228M
SG&A Expenses	$238M
Other Expenses	$138M
Operating Expenses	$376M
Cost & Expenses	$411M
OPERATING INCOME	$206M
Interest Income	$389M
Interest Expense	$21M
Other Income/Expenses	$0
INCOME BEFORE TAX	$206M
Income Tax Expense	$41M
Net Income from Continuing Ops	$165M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$165M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$164M
D&A	$31M
EBIT	$206M
EBITDA	$237M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$165M
Depreciation & Amortization	$31M
Stock-Based Compensation	$6M
Deferred Income Tax	-$2M
Other Non-Cash Items	-$3M
Change in Working Capital	-$17M
OPERATING CASH FLOW	$179M
Capital Expenditure	-$15M
Acquisitions (Net)	$33M
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$886M
Other Investing Activities	-$185M
NET CASH FROM INVESTING	-$399M
Net Debt Issuance	-$23M
Common Stock Repurchased	-$271.0K
Common Dividends Paid	-$87M
Other Financing Activities	$1.8B
NET CASH FROM FINANCING	$1.7B
FREE CASH FLOW	$165M
Net Change in Cash	$1.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.6B
Short-Term Investments	$3.5B
Net Receivables	$39M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.2B
PP&E (Net)	$166M
Goodwill	$794M
Intangible Assets	$53M
Long-Term Investments	$7.4B
Tax Assets	$0
Other Non-Current Assets	$323M
TOTAL NON-CURRENT ASSETS	$8.7B
TOTAL ASSETS	$13.9B
Account Payables	$231M
Short-Term Debt	$284M
Deferred Revenue	$0
Other Current Liabilities	$11.2B
TOTAL CURRENT LIABILITIES	$11.7B
Long-Term Debt	$87M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$87M
TOTAL LIABILITIES	$11.8B
Common Stock	$54M
Additional Paid-In Capital	$1.0B
Retained Earnings	$960M
Treasury Stock	-$6M
Accum. Other Comp. Income	$62M
Other Equity	$9M
TOTAL STOCKHOLDERS' EQUITY	$2.1B
Minority Interest	$0
TOTAL EQUITY	$2.1B
TOTAL LIABILITIES & EQUITY	$13.9B
Total Debt	$371M
Net Debt	-$1.3B