COLB FY 2013 Earnings Report — Columbia Banking System, Inc. Revenue & Financial Results | Market Cap Arena

Columbia Banking System, Inc.COLB

FY 2013 Earnings

Reported February 28, 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	$564M	—	$580M	—	-2.7%
Op. Income	$152M	—	$155M	—	-1.8%
Gross Margin	91.4%	—	86.5%	—	4.8pp
Net Margin	17.4%	—	17.6%	—	-0.1pp
EPS (Diluted)	$0.87	—	$0.90	—	-3.3%
Free Cash Flow	$384M	—	$2M	—	21240.8%

Revenue Flow

Item	Amount
REVENUE	$564M
Cost of Revenue	$49M
GROSS PROFIT	$516M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$254M
SG&A Expenses	$260M
Other Expenses	$103M
Operating Expenses	$363M
Cost & Expenses	$412M
OPERATING INCOME	$152M
Interest Income	$443M
Interest Expense	$38M
Other Income/Expenses	$0
INCOME BEFORE TAX	$152M
Income Tax Expense	$54M
Net Income from Continuing Ops	$98M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$98M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$98M
D&A	$24M
EBIT	$152M
EBITDA	$176M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$564M
Cost of Revenue	$49M
GROSS PROFIT	$516M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$254M
SG&A Expenses	$260M
Other Expenses	$103M
Operating Expenses	$363M
Cost & Expenses	$412M
OPERATING INCOME	$152M
Interest Income	$443M
Interest Expense	$38M
Other Income/Expenses	$0
INCOME BEFORE TAX	$152M
Income Tax Expense	$54M
Net Income from Continuing Ops	$98M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$98M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$98M
D&A	$24M
EBIT	$152M
EBITDA	$176M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$98M
Depreciation & Amortization	$24M
Stock-Based Compensation	$5M
Deferred Income Tax	$8M
Other Non-Cash Items	$251M
Change in Working Capital	$32M
OPERATING CASH FLOW	$418M
Capital Expenditure	-$34M
Acquisitions (Net)	-$150M
Purchases of Investments	-$53M
Sales/Maturities of Investments	$805M
Other Investing Activities	-$292M
NET CASH FROM INVESTING	$276M
Net Debt Issuance	-$220M
Common Stock Repurchased	-$9M
Common Dividends Paid	-$51M
Other Financing Activities	-$167M
NET CASH FROM FINANCING	-$448M
FREE CASH FLOW	$384M
Net Change in Cash	$247M

Balance Sheet

Item	Amount
Cash & Equivalents	$790M
Short-Term Investments	$1.8B
Net Receivables	$401M
Inventory	-$339M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.0B
PP&E (Net)	$178M
Goodwill	$764M
Intangible Assets	$60M
Long-Term Investments	$7.4B
Tax Assets	$17M
Other Non-Current Assets	$206M
TOTAL NON-CURRENT ASSETS	$8.6B
TOTAL ASSETS	$11.6B
Account Payables	$0
Short-Term Debt	$225M
Deferred Revenue	$0
Other Current Liabilities	$9.1B
TOTAL CURRENT LIABILITIES	$9.3B
Long-Term Debt	$441M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$125M
TOTAL NON-CURRENT LIABILITIES	$566M
TOTAL LIABILITIES	$9.9B
Common Stock	$1.5B
Additional Paid-In Capital	$0
Retained Earnings	$218M
Treasury Stock	$0
Accum. Other Comp. Income	-$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$11.6B
Total Debt	$666M
Net Debt	-$125M