COLB FY 2019 Earnings Report — Columbia Banking System, Inc. Revenue & Financial Results | Market Cap Arena

Columbia Banking System, Inc.COLB

FY 2019 Earnings

Reported February 27, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$1.5B	—	$1.3B	—	9.2%
Op. Income	$469M	—	$423M	—	10.9%
Gross Margin	80.8%	—	86.3%	—	-5.5pp
Net Margin	24.1%	—	23.5%	—	0.6pp
EPS (Diluted)	$1.60	—	$1.43	—	11.9%
Free Cash Flow	-$93M	—	$496M	—	-118.8%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$283M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$13M
General & Administrative	$500M
SG&A Expenses	$514M
Other Expenses	$205M
Operating Expenses	$719M
Cost & Expenses	$1.0B
OPERATING INCOME	$469M
Interest Income	$1.1B
Interest Expense	$210M
Other Income/Expenses	$0
INCOME BEFORE TAX	$469M
Income Tax Expense	$115M
Net Income from Continuing Ops	$354M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$354M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$354M
D&A	$43M
EBIT	$469M
EBITDA	$512M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$283M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$13M
General & Administrative	$500M
SG&A Expenses	$514M
Other Expenses	$205M
Operating Expenses	$719M
Cost & Expenses	$1.0B
OPERATING INCOME	$469M
Interest Income	$1.1B
Interest Expense	$210M
Other Income/Expenses	$0
INCOME BEFORE TAX	$469M
Income Tax Expense	$115M
Net Income from Continuing Ops	$354M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$354M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$354M
D&A	$43M
EBIT	$469M
EBITDA	$512M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$354M
Depreciation & Amortization	$43M
Stock-Based Compensation	$8M
Deferred Income Tax	-$4M
Other Non-Cash Items	-$344M
Change in Working Capital	-$138M
OPERATING CASH FLOW	-$80M
Capital Expenditure	-$13M
Acquisitions (Net)	-$45M
Purchases of Investments	-$918M
Sales/Maturities of Investments	$1.0B
Other Investing Activities	-$575M
NET CASH FROM INVESTING	-$550M
Net Debt Issuance	$155M
Common Stock Repurchased	-$7M
Common Dividends Paid	-$185M
Other Financing Activities	$1.4B
NET CASH FROM FINANCING	$1.4B
FREE CASH FLOW	-$93M
Net Change in Cash	$740M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.4B
Short-Term Investments	$2.8B
Net Receivables	$1.6B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.8B
PP&E (Net)	$312M
Goodwill	$1.8B
Intangible Assets	$133M
Long-Term Investments	$20.3B
Tax Assets	$0
Other Non-Current Assets	$508M
TOTAL NON-CURRENT ASSETS	$23.1B
TOTAL ASSETS	$28.8B
Account Payables	$0
Short-Term Debt	$311M
Deferred Revenue	$0
Other Current Liabilities	$22.5B
TOTAL CURRENT LIABILITIES	$22.8B
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$53M
Other Non-Current Liabilities	$298M
TOTAL NON-CURRENT LIABILITIES	$1.7B
TOTAL LIABILITIES	$24.5B
Common Stock	$3.5B
Additional Paid-In Capital	$0
Retained Earnings	$770M
Treasury Stock	$0
Accum. Other Comp. Income	$30M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.3B
Minority Interest	$0
TOTAL EQUITY	$4.3B
TOTAL LIABILITIES & EQUITY	$28.8B
Total Debt	$1.7B
Net Debt	$338M