CM FY 2013 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

FY 2013 Earnings

Reported October 31, 2013

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	$12.4B	—	$12.3B	—	0.2%
Op. Income	$2.9B	—	$2.9B	—	-0.4%
Gross Margin	67.6%	—	65.2%	—	2.4pp
Net Margin	19.8%	—	19.5%	—	0.3pp
EPS (Diluted)	$2.97	—	$2.86	—	3.8%
Free Cash Flow	$3.6B	—	$959M	—	276.7%

Revenue Flow

Item	Amount
REVENUE	$12.4B
Cost of Revenue	$4.0B
GROSS PROFIT	$8.4B
R&D Expenses	$0
Selling & Marketing	$173M
General & Administrative	$3.1B
SG&A Expenses	$3.3B
Other Expenses	$2.1B
Operating Expenses	$5.4B
Cost & Expenses	$9.5B
OPERATING INCOME	$2.9B
Interest Income	$8.6B
Interest Expense	$3.2B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.9B
Income Tax Expense	$458M
Net Income from Continuing Ops	$2.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.4B
D&A	$259M
EBIT	$2.9B
EBITDA	$3.2B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$12.4B
Cost of Revenue	$4.0B
GROSS PROFIT	$8.4B
R&D Expenses	$0
Selling & Marketing	$173M
General & Administrative	$3.1B
SG&A Expenses	$3.3B
Other Expenses	$2.1B
Operating Expenses	$5.4B
Cost & Expenses	$9.5B
OPERATING INCOME	$2.9B
Interest Income	$8.6B
Interest Expense	$3.2B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.9B
Income Tax Expense	$458M
Net Income from Continuing Ops	$2.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.4B
D&A	$259M
EBIT	$2.9B
EBITDA	$3.2B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$2.5B
Depreciation & Amortization	$259M
Stock-Based Compensation	$4M
Deferred Income Tax	$36M
Other Non-Cash Items	$416M
Change in Working Capital	$628M
OPERATING CASH FLOW	$3.8B
Capital Expenditure	-$181M
Acquisitions (Net)	$0
Purchases of Investments	-$20.1B
Sales/Maturities of Investments	$18.1B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$2.2B
Net Debt Issuance	-$410M
Common Stock Repurchased	-$404M
Common Dividends Paid	-$1.2B
Other Financing Activities	$0
NET CASH FROM FINANCING	-$1.9B
FREE CASH FLOW	$3.6B
Net Change in Cash	-$294M

Balance Sheet

Item	Amount
Cash & Equivalents	$5.3B
Short-Term Investments	$20.2B
Net Receivables	$4.1B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$30.0B
PP&E (Net)	$1.3B
Goodwill	$1.3B
Intangible Assets	$553M
Long-Term Investments	$197.7B
Tax Assets	$385M
Other Non-Current Assets	$61.2B
TOTAL NON-CURRENT ASSETS	$261.1B
TOTAL ASSETS	$291.1B
Account Payables	$2.3B
Short-Term Debt	$3.6B
Deferred Revenue	$0
Other Current Liabilities	$203.8B
TOTAL CURRENT LIABILITIES	$209.7B
Long-Term Debt	$39.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$24M
Other Non-Current Liabilities	$26.9B
TOTAL NON-CURRENT LIABILITIES	$66.5B
TOTAL LIABILITIES	$277.9B
Common Stock	$5.7B
Additional Paid-In Capital	$60M
Retained Earnings	$6.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$29M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$13.0B
Minority Interest	$128M
TOTAL EQUITY	$13.2B
TOTAL LIABILITIES & EQUITY	$291.1B
Total Debt	$43.1B
Net Debt	$37.8B