COLB FY 2023 Earnings Report — Columbia Banking System, Inc. Revenue & Financial Results | Market Cap Arena

Columbia Banking System, Inc.COLB

FY 2023 Earnings

Reported February 27, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$2.7B	—	$1.3B	—	103.6%
Op. Income	$471M	—	$451M	—	4.6%
Gross Margin	65.0%	—	88.0%	—	-22.9pp
Net Margin	12.7%	—	25.0%	—	-12.3pp
EPS (Diluted)	$1.78	—	$1.55	—	14.8%
Free Cash Flow	$670M	—	$1.0B	—	-35.5%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$959M
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$11M
General & Administrative	$688M
SG&A Expenses	$699M
Other Expenses	$614M
Operating Expenses	$1.3B
Cost & Expenses	$2.3B
OPERATING INCOME	$471M
Interest Income	$2.5B
Interest Expense	$746M
Other Income/Expenses	$0
INCOME BEFORE TAX	$471M
Income Tax Expense	$122M
Net Income from Continuing Ops	$349M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$349M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$349M
D&A	$144M
EBIT	$471M
EBITDA	$615M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$959M
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$11M
General & Administrative	$688M
SG&A Expenses	$699M
Other Expenses	$614M
Operating Expenses	$1.3B
Cost & Expenses	$2.3B
OPERATING INCOME	$471M
Interest Income	$2.5B
Interest Expense	$746M
Other Income/Expenses	$0
INCOME BEFORE TAX	$471M
Income Tax Expense	$122M
Net Income from Continuing Ops	$349M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$349M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$349M
D&A	$144M
EBIT	$471M
EBITDA	$615M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$349M
Depreciation & Amortization	$144M
Stock-Based Compensation	$18M
Deferred Income Tax	$13M
Other Non-Cash Items	$265M
Change in Working Capital	-$119M
OPERATING CASH FLOW	$670M
Capital Expenditure	$0
Acquisitions (Net)	$275M
Purchases of Investments	-$926M
Sales/Maturities of Investments	$1.7B
Other Investing Activities	-$582M
NET CASH FROM INVESTING	$502M
Net Debt Issuance	$749M
Common Stock Repurchased	-$6M
Common Dividends Paid	-$270M
Other Financing Activities	-$778M
NET CASH FROM FINANCING	-$304M
FREE CASH FLOW	$670M
Net Change in Cash	$868M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.2B
Short-Term Investments	$8.8B
Net Receivables	$1.7B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$12.7B
PP&E (Net)	$455M
Goodwill	$1.0B
Intangible Assets	$713M
Long-Term Investments	$35.4B
Tax Assets	$347M
Other Non-Current Assets	$1.5B
TOTAL NON-CURRENT ASSETS	$39.5B
TOTAL ASSETS	$52.2B
Account Payables	$0
Short-Term Debt	$252M
Deferred Revenue	$0
Other Current Liabilities	$41.6B
TOTAL CURRENT LIABILITIES	$41.9B
Long-Term Debt	$4.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$815M
TOTAL NON-CURRENT LIABILITIES	$5.3B
TOTAL LIABILITIES	$47.2B
Common Stock	$5.8B
Additional Paid-In Capital	$0
Retained Earnings	-$468M
Treasury Stock	$0
Accum. Other Comp. Income	-$340M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.0B
Minority Interest	$0
TOTAL EQUITY	$5.0B
TOTAL LIABILITIES & EQUITY	$52.2B
Total Debt	$4.8B
Net Debt	$2.6B