COLB FY 2022 Earnings Report — Columbia Banking System, Inc. Revenue & Financial Results | Market Cap Arena

Columbia Banking System, Inc.COLB

FY 2022 Earnings

Reported February 24, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.3B	—	2.2%
Op. Income	$451M	—	$558M	—	-19.3%
Gross Margin	88.0%	—	100.0%	—	-12.0pp
Net Margin	25.0%	—	31.9%	—	-6.9pp
EPS (Diluted)	$1.55	—	$1.91	—	-18.8%
Free Cash Flow	$1.0B	—	$647M	—	60.4%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$162M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$455M
SG&A Expenses	$462M
Other Expenses	$273M
Operating Expenses	$735M
Cost & Expenses	$897M
OPERATING INCOME	$451M
Interest Income	$1.1B
Interest Expense	$78M
Other Income/Expenses	$0
INCOME BEFORE TAX	$451M
Income Tax Expense	$114M
Net Income from Continuing Ops	$337M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$337M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$337M
D&A	$28M
EBIT	$451M
EBITDA	$479M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$162M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$455M
SG&A Expenses	$462M
Other Expenses	$273M
Operating Expenses	$735M
Cost & Expenses	$897M
OPERATING INCOME	$451M
Interest Income	$1.1B
Interest Expense	$78M
Other Income/Expenses	$0
INCOME BEFORE TAX	$451M
Income Tax Expense	$114M
Net Income from Continuing Ops	$337M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$337M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$337M
D&A	$28M
EBIT	$451M
EBITDA	$479M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$337M
Depreciation & Amortization	$28M
Stock-Based Compensation	$10M
Deferred Income Tax	$14M
Other Non-Cash Items	$276M
Change in Working Capital	$400M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$27M
Acquisitions (Net)	$0
Purchases of Investments	-$277M
Sales/Maturities of Investments	$396M
Other Investing Activities	-$3.6B
NET CASH FROM INVESTING	-$3.5B
Net Debt Issuance	$900M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$182M
Other Financing Activities	$288M
NET CASH FROM FINANCING	$1.0B
FREE CASH FLOW	$1.0B
Net Change in Cash	-$1.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$3.2B
Net Receivables	$1.7B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$6.2B
PP&E (Net)	$255M
Goodwill	$0
Intangible Assets	$190M
Long-Term Investments	$24.3B
Tax Assets	$133M
Other Non-Current Assets	$706M
TOTAL NON-CURRENT ASSETS	$25.6B
TOTAL ASSETS	$31.8B
Account Payables	$0
Short-Term Debt	$309M
Deferred Revenue	$0
Other Current Liabilities	$27.1B
TOTAL CURRENT LIABILITIES	$27.4B
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$585M
TOTAL NON-CURRENT LIABILITIES	$2.0B
TOTAL LIABILITIES	$29.4B
Common Stock	$3.5B
Additional Paid-In Capital	$0
Retained Earnings	-$544M
Treasury Stock	$0
Accum. Other Comp. Income	-$427M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	$0
TOTAL EQUITY	$2.5B
TOTAL LIABILITIES & EQUITY	$31.8B
Total Debt	$1.7B
Net Debt	$423M