CM FY 2014 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

FY 2014 Earnings

Reported October 31, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$12.5B	—	$12.4B	—	1.0%
Op. Income	$2.9B	—	$2.9B	—	-1.6%
Gross Margin	71.0%	—	67.6%	—	3.4pp
Net Margin	18.8%	—	19.8%	—	-1.0pp
EPS (Diluted)	$2.87	—	$2.97	—	-3.2%
Free Cash Flow	-$12.3B	—	$3.6B	—	-440.7%

Revenue Flow

Item	Amount
REVENUE	$12.5B
Cost of Revenue	$3.6B
GROSS PROFIT	$8.9B
R&D Expenses	$0
Selling & Marketing	$208M
General & Administrative	$3.4B
SG&A Expenses	$3.6B
Other Expenses	$2.4B
Operating Expenses	$6.0B
Cost & Expenses	$9.6B
OPERATING INCOME	$2.9B
Interest Income	$8.4B
Interest Expense	$2.9B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.9B
Income Tax Expense	$511M
Net Income from Continuing Ops	$2.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.3B
D&A	$595M
EBIT	$2.9B
EBITDA	$3.5B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$12.5B
Cost of Revenue	$3.6B
GROSS PROFIT	$8.9B
R&D Expenses	$0
Selling & Marketing	$208M
General & Administrative	$3.4B
SG&A Expenses	$3.6B
Other Expenses	$2.4B
Operating Expenses	$6.0B
Cost & Expenses	$9.6B
OPERATING INCOME	$2.9B
Interest Income	$8.4B
Interest Expense	$2.9B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.9B
Income Tax Expense	$511M
Net Income from Continuing Ops	$2.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.3B
D&A	$595M
EBIT	$2.9B
EBITDA	$3.5B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$2.4B
Depreciation & Amortization	$595M
Stock-Based Compensation	$5M
Deferred Income Tax	$42M
Other Non-Cash Items	$73M
Change in Working Capital	-$15.2B
OPERATING CASH FLOW	-$12.1B
Capital Expenditure	-$184M
Acquisitions (Net)	-$139M
Purchases of Investments	-$20.5B
Sales/Maturities of Investments	$34.5B
Other Investing Activities	$0
NET CASH FROM INVESTING	$13.7B
Net Debt Issuance	$538M
Common Stock Repurchased	-$1.0B
Common Dividends Paid	-$1.2B
Other Financing Activities	-$4M
NET CASH FROM FINANCING	-$1.3B
FREE CASH FLOW	-$12.3B
Net Change in Cash	$353M

Balance Sheet

Item	Amount
Cash & Equivalents	$10.8B
Short-Term Investments	$8.9B
Net Receivables	$4.9B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$25.1B
PP&E (Net)	$1.3B
Goodwill	$1.1B
Intangible Assets	$707M
Long-Term Investments	$207.4B
Tax Assets	$370M
Other Non-Current Assets	$68.7B
TOTAL NON-CURRENT ASSETS	$278.4B
TOTAL ASSETS	$303.5B
Account Payables	$2.3B
Short-Term Debt	$7.2B
Deferred Revenue	$0
Other Current Liabilities	$219.1B
TOTAL CURRENT LIABILITIES	$228.7B
Long-Term Debt	$32.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$21M
Other Non-Current Liabilities	$27.4B
TOTAL NON-CURRENT LIABILITIES	$59.4B
TOTAL LIABILITIES	$289.7B
Common Stock	$5.7B
Additional Paid-In Capital	$55M
Retained Earnings	$7.0B
Treasury Stock	$0
Accum. Other Comp. Income	$77M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$13.6B
Minority Interest	$120M
TOTAL EQUITY	$13.7B
TOTAL LIABILITIES & EQUITY	$303.5B
Total Debt	$39.2B
Net Debt	$28.4B