FCNCA FY 2010 Earnings Report — First Citizens BancShares, Inc. Revenue & Financial Results | Market Cap Arena

First Citizens BancShares, Inc.FCNCA

FY 2010 Earnings

Reported March 1, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$1.2B	—	$1.0B	—	19.5%
Op. Income	$304M	—	$183M	—	65.8%
Gross Margin	72.7%	—	70.4%	—	2.3pp
Net Margin	15.6%	—	11.2%	—	4.4pp
EPS (Diluted)	$18.50	—	$11.08	—	67.0%
Free Cash Flow	$23M	—	$72M	—	-67.5%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$339M
GROSS PROFIT	$901M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$386M
SG&A Expenses	$386M
Other Expenses	$212M
Operating Expenses	$597M
Cost & Expenses	$936M
OPERATING INCOME	$304M
Interest Income	$969M
Interest Expense	$195M
Other Income/Expenses	$0
INCOME BEFORE TAX	$304M
Income Tax Expense	$111M
Net Income from Continuing Ops	$193M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$193M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$193M
D&A	$63M
EBIT	$304M
EBITDA	$366M
EPS	$19
EPS Diluted	$19

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$339M
GROSS PROFIT	$901M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$386M
SG&A Expenses	$386M
Other Expenses	$212M
Operating Expenses	$597M
Cost & Expenses	$936M
OPERATING INCOME	$304M
Interest Income	$969M
Interest Expense	$195M
Other Income/Expenses	$0
INCOME BEFORE TAX	$304M
Income Tax Expense	$111M
Net Income from Continuing Ops	$193M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$193M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$193M
D&A	$63M
EBIT	$304M
EBITDA	$366M
EPS	$19
EPS Diluted	$19

Cash Flow Statement

Item	Amount
Net Income	$193M
Depreciation & Amortization	$63M
Stock-Based Compensation	$0
Deferred Income Tax	-$41M
Other Non-Cash Items	-$119M
Change in Working Capital	-$680.0K
OPERATING CASH FLOW	$94M
Capital Expenditure	-$71M
Acquisitions (Net)	$106M
Purchases of Investments	-$4.2B
Sales/Maturities of Investments	$3.0B
Other Investing Activities	$1.1B
NET CASH FROM INVESTING	-$77M
Net Debt Issuance	-$615M
Common Stock Repurchased	$0
Common Dividends Paid	-$13M
Other Financing Activities	$590M
NET CASH FROM FINANCING	-$37M
FREE CASH FLOW	$23M
Net Change in Cash	-$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$460M
Short-Term Investments	$398M
Net Receivables	$707M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$843M
Goodwill	$103M
Intangible Assets	$10M
Long-Term Investments	$17.9B
Tax Assets	$0
Other Non-Current Assets	$424M
TOTAL NON-CURRENT ASSETS	$19.2B
TOTAL ASSETS	$20.8B
Account Payables	$0
Short-Term Debt	$547M
Deferred Revenue	$0
Other Current Liabilities	$17.6B
TOTAL CURRENT LIABILITIES	$18.2B
Long-Term Debt	$810M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$82M
TOTAL NON-CURRENT LIABILITIES	$892M
TOTAL LIABILITIES	$19.1B
Common Stock	$10M
Additional Paid-In Capital	$144M
Retained Earnings	$1.6B
Treasury Stock	$0
Accum. Other Comp. Income	-$37M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$20.8B
Total Debt	$1.4B
Net Debt	$896M