COLB FY 2012 Earnings Report — Columbia Banking System, Inc. Revenue & Financial Results | Market Cap Arena

Columbia Banking System, Inc.COLB

FY 2012 Earnings

Reported February 28, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$580M	—	$568M	—	2.2%
Op. Income	$155M	—	$111M	—	39.5%
Gross Margin	86.5%	—	76.1%	—	10.4pp
Net Margin	17.6%	—	13.1%	—	4.4pp
EPS (Diluted)	$0.90	—	$0.65	—	38.5%
Free Cash Flow	$2M	—	$148M	—	-98.8%

Revenue Flow

Item	Amount
REVENUE	$580M
Cost of Revenue	$78M
GROSS PROFIT	$502M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$246M
SG&A Expenses	$251M
Other Expenses	$96M
Operating Expenses	$347M
Cost & Expenses	$425M
OPERATING INCOME	$155M
Interest Income	$456M
Interest Expense	$49M
Other Income/Expenses	$0
INCOME BEFORE TAX	$155M
Income Tax Expense	$53M
Net Income from Continuing Ops	$102M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$102M
Net Income Deductions	-$682.0K
BOTTOM LINE NET INCOME	$101M
D&A	$16M
EBIT	$155M
EBITDA	$171M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$580M
Cost of Revenue	$78M
GROSS PROFIT	$502M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$246M
SG&A Expenses	$251M
Other Expenses	$96M
Operating Expenses	$347M
Cost & Expenses	$425M
OPERATING INCOME	$155M
Interest Income	$456M
Interest Expense	$49M
Other Income/Expenses	$0
INCOME BEFORE TAX	$155M
Income Tax Expense	$53M
Net Income from Continuing Ops	$102M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$102M
Net Income Deductions	-$682.0K
BOTTOM LINE NET INCOME	$101M
D&A	$16M
EBIT	$155M
EBITDA	$171M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$102M
Depreciation & Amortization	$16M
Stock-Based Compensation	$4M
Deferred Income Tax	$6M
Other Non-Cash Items	-$130M
Change in Working Capital	$26M
OPERATING CASH FLOW	$25M
Capital Expenditure	-$23M
Acquisitions (Net)	$41M
Purchases of Investments	-$996M
Sales/Maturities of Investments	$1.5B
Other Investing Activities	-$382M
NET CASH FROM INVESTING	$123M
Net Debt Issuance	-$55M
Common Stock Repurchased	-$7M
Common Dividends Paid	-$46M
Other Financing Activities	-$94M
NET CASH FROM FINANCING	-$203M
FREE CASH FLOW	$2M
Net Change in Cash	-$55M

Balance Sheet

Item	Amount
Cash & Equivalents	$544M
Short-Term Investments	$2.6B
Net Receivables	$84M
Inventory	-$38M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.3B
PP&E (Net)	$163M
Goodwill	$668M
Intangible Assets	$45M
Long-Term Investments	$7.4B
Tax Assets	$4M
Other Non-Current Assets	$256M
TOTAL NON-CURRENT ASSETS	$8.5B
TOTAL ASSETS	$11.8B
Account Payables	$0
Short-Term Debt	$137M
Deferred Revenue	$0
Other Current Liabilities	$9.4B
TOTAL CURRENT LIABILITIES	$9.5B
Long-Term Debt	$450M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$105M
TOTAL NON-CURRENT LIABILITIES	$555M
TOTAL LIABILITIES	$10.1B
Common Stock	$1.5B
Additional Paid-In Capital	$0
Retained Earnings	$187M
Treasury Stock	$0
Accum. Other Comp. Income	$24M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$11.8B
Total Debt	$587M
Net Debt	$43M