FCNCA FY 2011 Earnings Report — First Citizens BancShares, Inc. Revenue & Financial Results | Market Cap Arena

First Citizens BancShares, Inc.FCNCA

FY 2011 Earnings

Reported March 7, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.2B	—	7.2%
Op. Income	$310M	—	$304M	—	2.2%
Gross Margin	71.7%	—	72.7%	—	-1.0pp
Net Margin	14.7%	—	15.6%	—	-0.9pp
EPS (Diluted)	$18.80	—	$18.50	—	1.6%
Free Cash Flow	$259M	—	$23M	—	1002.3%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$376M
GROSS PROFIT	$953M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$397M
SG&A Expenses	$397M
Other Expenses	$245M
Operating Expenses	$643M
Cost & Expenses	$1.0B
OPERATING INCOME	$310M
Interest Income	$1.0B
Interest Expense	$144M
Other Income/Expenses	$0
INCOME BEFORE TAX	$310M
Income Tax Expense	$115M
Net Income from Continuing Ops	$195M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$195M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$195M
D&A	$65M
EBIT	$310M
EBITDA	$375M
EPS	$19
EPS Diluted	$19

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$376M
GROSS PROFIT	$953M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$397M
SG&A Expenses	$397M
Other Expenses	$245M
Operating Expenses	$643M
Cost & Expenses	$1.0B
OPERATING INCOME	$310M
Interest Income	$1.0B
Interest Expense	$144M
Other Income/Expenses	$0
INCOME BEFORE TAX	$310M
Income Tax Expense	$115M
Net Income from Continuing Ops	$195M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$195M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$195M
D&A	$65M
EBIT	$310M
EBITDA	$375M
EPS	$19
EPS Diluted	$19

Cash Flow Statement

Item	Amount
Net Income	$195M
Depreciation & Amortization	$65M
Stock-Based Compensation	$0
Deferred Income Tax	-$17M
Other Non-Cash Items	-$72M
Change in Working Capital	$164M
OPERATING CASH FLOW	$336M
Capital Expenditure	-$77M
Acquisitions (Net)	$1.2B
Purchases of Investments	-$3.5B
Sales/Maturities of Investments	$4.2B
Other Investing Activities	$903M
NET CASH FROM INVESTING	$2.7B
Net Debt Issuance	-$604M
Common Stock Repurchased	-$24M
Common Dividends Paid	-$12M
Other Financing Activities	-$2.3B
NET CASH FROM FINANCING	-$2.9B
FREE CASH FLOW	$259M
Net Change in Cash	$131M

Balance Sheet

Item	Amount
Cash & Equivalents	$591M
Short-Term Investments	$4.5B
Net Receivables	$42M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.1B
PP&E (Net)	$854M
Goodwill	$103M
Intangible Assets	$7M
Long-Term Investments	$13.8B
Tax Assets	$0
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$15.9B
TOTAL ASSETS	$21.0B
Account Payables	$0
Short-Term Debt	$615M
Deferred Revenue	$0
Other Current Liabilities	$17.6B
TOTAL CURRENT LIABILITIES	$18.2B
Long-Term Debt	$682M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$256M
TOTAL NON-CURRENT LIABILITIES	$944M
TOTAL LIABILITIES	$19.1B
Common Stock	$10M
Additional Paid-In Capital	$144M
Retained Earnings	$1.8B
Treasury Stock	$0
Accum. Other Comp. Income	-$67M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.9B
Minority Interest	$0
TOTAL EQUITY	$1.9B
TOTAL LIABILITIES & EQUITY	$21.0B
Total Debt	$1.3B
Net Debt	$712M