FCNCA FY 2015 Earnings Report — First Citizens BancShares, Inc. Revenue & Financial Results | Market Cap Arena

First Citizens BancShares, Inc.FCNCA

FY 2015 Earnings

Reported February 24, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.0B	—	24.8%
Op. Income	$332M	—	$204M	—	63.3%
Gross Margin	95.0%	—	95.1%	—	-0.1pp
Net Margin	16.1%	—	13.2%	—	2.9pp
EPS (Diluted)	$17.52	—	$13.56	—	29.2%
Free Cash Flow	$143M	—	$100M	—	44.0%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$65M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$561M
SG&A Expenses	$561M
Other Expenses	$347M
Operating Expenses	$908M
Cost & Expenses	$973M
OPERATING INCOME	$332M
Interest Income	$969M
Interest Expense	$44M
Other Income/Expenses	$0
INCOME BEFORE TAX	$332M
Income Tax Expense	$122M
Net Income from Continuing Ops	$210M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$210M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$210M
D&A	$111M
EBIT	$332M
EBITDA	$443M
EPS	$18
EPS Diluted	$18

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$65M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$561M
SG&A Expenses	$561M
Other Expenses	$347M
Operating Expenses	$908M
Cost & Expenses	$973M
OPERATING INCOME	$332M
Interest Income	$969M
Interest Expense	$44M
Other Income/Expenses	$0
INCOME BEFORE TAX	$332M
Income Tax Expense	$122M
Net Income from Continuing Ops	$210M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$210M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$210M
D&A	$111M
EBIT	$332M
EBITDA	$443M
EPS	$18
EPS Diluted	$18

Cash Flow Statement

Item	Amount
Net Income	$210M
Depreciation & Amortization	$111M
Stock-Based Compensation	$0
Deferred Income Tax	$550.0K
Other Non-Cash Items	-$112M
Change in Working Capital	$24M
OPERATING CASH FLOW	$233M
Capital Expenditure	-$90M
Acquisitions (Net)	$101M
Purchases of Investments	-$2.5B
Sales/Maturities of Investments	$2.4B
Other Investing Activities	-$1.2B
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	-$54M
Common Stock Repurchased	$0
Common Dividends Paid	-$18M
Other Financing Activities	$1.0B
NET CASH FROM FINANCING	$945M
FREE CASH FLOW	$143M
Net Change in Cash	-$70M

Balance Sheet

Item	Amount
Cash & Equivalents	$534M
Short-Term Investments	$8.9B
Net Receivables	$70M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$9.5B
PP&E (Net)	$1.1B
Goodwill	$140M
Intangible Assets	$91M
Long-Term Investments	$20.1B
Tax Assets	$0
Other Non-Current Assets	$487M
TOTAL NON-CURRENT ASSETS	$21.9B
TOTAL ASSETS	$31.5B
Account Payables	$0
Short-Term Debt	$595M
Deferred Revenue	$0
Other Current Liabilities	$26.9B
TOTAL CURRENT LIABILITIES	$27.5B
Long-Term Debt	$695M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$374M
TOTAL NON-CURRENT LIABILITIES	$1.1B
TOTAL LIABILITIES	$28.6B
Common Stock	$12M
Additional Paid-In Capital	$659M
Retained Earnings	$2.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$64M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.9B
Minority Interest	$0
TOTAL EQUITY	$2.9B
TOTAL LIABILITIES & EQUITY	$31.5B
Total Debt	$1.3B
Net Debt	$765M