COLB FY 2014 Earnings Report — Columbia Banking System, Inc. Revenue & Financial Results | Market Cap Arena

Columbia Banking System, Inc.COLB

FY 2014 Earnings

Reported February 27, 2015

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	$1000M	—	$564M	—	77.1%
Op. Income	$231M	—	$152M	—	51.3%
Gross Margin	91.1%	—	91.4%	—	-0.3pp
Net Margin	14.8%	—	17.4%	—	-2.7pp
EPS (Diluted)	$0.78	—	$0.87	—	-10.3%
Free Cash Flow	$298M	—	$384M	—	-22.3%

Revenue Flow

Item	Amount
REVENUE	$1000M
Cost of Revenue	$89M
GROSS PROFIT	$911M
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$430M
SG&A Expenses	$440M
Other Expenses	$240M
Operating Expenses	$680M
Cost & Expenses	$769M
OPERATING INCOME	$231M
Interest Income	$822M
Interest Expense	$49M
Other Income/Expenses	$0
INCOME BEFORE TAX	$231M
Income Tax Expense	$83M
Net Income from Continuing Ops	$148M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$148M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$147M
D&A	$39M
EBIT	$231M
EBITDA	$270M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1000M
Cost of Revenue	$89M
GROSS PROFIT	$911M
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$430M
SG&A Expenses	$440M
Other Expenses	$240M
Operating Expenses	$680M
Cost & Expenses	$769M
OPERATING INCOME	$231M
Interest Income	$822M
Interest Expense	$49M
Other Income/Expenses	$0
INCOME BEFORE TAX	$231M
Income Tax Expense	$83M
Net Income from Continuing Ops	$148M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$148M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$147M
D&A	$39M
EBIT	$231M
EBITDA	$270M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$148M
Depreciation & Amortization	$39M
Stock-Based Compensation	$15M
Deferred Income Tax	$80M
Other Non-Cash Items	$88M
Change in Working Capital	-$12M
OPERATING CASH FLOW	$358M
Capital Expenditure	-$60M
Acquisitions (Net)	-$11M
Purchases of Investments	-$363M
Sales/Maturities of Investments	$1.2B
Other Investing Activities	-$561M
NET CASH FROM INVESTING	$242M
Net Debt Issuance	-$97M
Common Stock Repurchased	-$7M
Common Dividends Paid	-$99M
Other Financing Activities	$417M
NET CASH FROM FINANCING	$213M
FREE CASH FLOW	$298M
Net Change in Cash	$815M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.6B
Short-Term Investments	$2.3B
Net Receivables	$590M
Inventory	-$495M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.5B
PP&E (Net)	$318M
Goodwill	$1.8B
Intangible Assets	$174M
Long-Term Investments	$15.0B
Tax Assets	$230M
Other Non-Current Assets	$540M
TOTAL NON-CURRENT ASSETS	$18.1B
TOTAL ASSETS	$22.6B
Account Payables	$0
Short-Term Debt	$313M
Deferred Revenue	$0
Other Current Liabilities	$16.9B
TOTAL CURRENT LIABILITIES	$17.2B
Long-Term Debt	$1.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$270M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$18.8B
Common Stock	$3.5B
Additional Paid-In Capital	$0
Retained Earnings	$246M
Treasury Stock	$0
Accum. Other Comp. Income	$12M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.8B
Minority Interest	$0
TOTAL EQUITY	$3.8B
TOTAL LIABILITIES & EQUITY	$22.6B
Total Debt	$1.7B
Net Debt	$65M