CHCO FY 2013 Earnings Report — City Holding Company Revenue & Financial Results | Market Cap Arena

City Holding CompanyCHCO

FY 2013 Earnings

Reported March 7, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$194M	—	$165M	—	17.4%
Op. Income	$73M	—	$59M	—	24.0%
Gross Margin	89.6%	—	87.4%	—	2.2pp
Net Margin	24.9%	—	23.6%	—	1.3pp
EPS (Diluted)	$3.06	—	$2.61	—	17.2%
Free Cash Flow	$68M	—	$46M	—	47.7%

Revenue Flow

Item	Amount
REVENUE	$194M
Cost of Revenue	$20M
GROSS PROFIT	$173M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$53M
SG&A Expenses	$56M
Other Expenses	$44M
Operating Expenses	$100M
Cost & Expenses	$120M
OPERATING INCOME	$73M
Interest Income	$139M
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$73M
Income Tax Expense	$25M
Net Income from Continuing Ops	$48M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$48M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$48M
D&A	-$6M
EBIT	$73M
EBITDA	$68M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$194M
Cost of Revenue	$20M
GROSS PROFIT	$173M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$53M
SG&A Expenses	$56M
Other Expenses	$44M
Operating Expenses	$100M
Cost & Expenses	$120M
OPERATING INCOME	$73M
Interest Income	$139M
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$73M
Income Tax Expense	$25M
Net Income from Continuing Ops	$48M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$48M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$48M
D&A	-$6M
EBIT	$73M
EBITDA	$68M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$48M
Depreciation & Amortization	-$6M
Stock-Based Compensation	$1M
Deferred Income Tax	$5M
Other Non-Cash Items	$8M
Change in Working Capital	$20M
OPERATING CASH FLOW	$76M
Capital Expenditure	-$7M
Acquisitions (Net)	-$22M
Purchases of Investments	-$81M
Sales/Maturities of Investments	$121M
Other Investing Activities	-$83M
NET CASH FROM INVESTING	-$73M
Net Debt Issuance	$23M
Common Stock Repurchased	$0
Common Dividends Paid	-$23M
Other Financing Activities	-$3M
NET CASH FROM FINANCING	-$2M
FREE CASH FLOW	$68M
Net Change in Cash	$882.0K

Balance Sheet

Item	Amount
Cash & Equivalents	$86M
Short-Term Investments	$353M
Net Receivables	$7M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$445M
PP&E (Net)	$83M
Goodwill	$71M
Intangible Assets	$4M
Long-Term Investments	$2.6B
Tax Assets	$42M
Other Non-Current Assets	$120M
TOTAL NON-CURRENT ASSETS	$2.9B
TOTAL ASSETS	$3.4B
Account Payables	$0
Short-Term Debt	$138M
Deferred Revenue	$0
Other Current Liabilities	$2.8B
TOTAL CURRENT LIABILITIES	$2.9B
Long-Term Debt	$16M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$41M
TOTAL NON-CURRENT LIABILITIES	$58M
TOTAL LIABILITIES	$3.0B
Common Stock	$46M
Additional Paid-In Capital	$108M
Retained Earnings	$334M
Treasury Stock	-$95M
Accum. Other Comp. Income	-$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$388M
Minority Interest	$0
TOTAL EQUITY	$388M
TOTAL LIABILITIES & EQUITY	$3.4B
Total Debt	$154M
Net Debt	$68M