FCNCA Q2 2016 Earnings Report — First Citizens BancShares, Inc. Revenue & Financial Results | Market Cap Arena

First Citizens BancShares, Inc.FCNCA

Q2 2016 Earnings

Reported August 4, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2016	Q1 2016	Q2 2015	QoQ Change	YoY Change
Revenue	$355M	$326M	—	9.1%	—
Op. Income	$110M	$81M	—	34.5%	—
Gross Margin	95.6%	95.3%	—	0.2pp	—
Net Margin	19.5%	16.0%	—	3.5pp	—
EPS (Diluted)	$5.77	$4.34	—	32.9%	—
Free Cash Flow	$3M	$62M	—	-94.6%	—

Revenue Flow

Item	Amount
REVENUE	$355M
Cost of Revenue	$16M
GROSS PROFIT	$339M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$134M
SG&A Expenses	$134M
Other Expenses	$95M
Operating Expenses	$230M
Cost & Expenses	$245M
OPERATING INCOME	$110M
Interest Income	$243M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$110M
Income Tax Expense	$40M
Net Income from Continuing Ops	$69M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$69M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$69M
D&A	$28M
EBIT	$110M
EBITDA	$138M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$355M
Cost of Revenue	$16M
GROSS PROFIT	$339M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$134M
SG&A Expenses	$134M
Other Expenses	$95M
Operating Expenses	$230M
Cost & Expenses	$245M
OPERATING INCOME	$110M
Interest Income	$243M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$110M
Income Tax Expense	$40M
Net Income from Continuing Ops	$69M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$69M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$69M
D&A	$28M
EBIT	$110M
EBITDA	$138M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$69M
Depreciation & Amortization	$28M
Stock-Based Compensation	$0
Deferred Income Tax	$305.0K
Other Non-Cash Items	-$36M
Change in Working Capital	-$42M
OPERATING CASH FLOW	$19M
Capital Expenditure	-$16M
Acquisitions (Net)	$13M
Purchases of Investments	-$194M
Sales/Maturities of Investments	$615M
Other Investing Activities	-$287M
NET CASH FROM INVESTING	$131M
Net Debt Issuance	$111M
Common Stock Repurchased	$0
Common Dividends Paid	-$7M
Other Financing Activities	-$204M
NET CASH FROM FINANCING	-$101M
FREE CASH FLOW	$3M
Net Change in Cash	$50M

Balance Sheet

Item	Amount
Cash & Equivalents	$508M
Short-Term Investments	$8.8B
Net Receivables	$72M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$9.4B
PP&E (Net)	$1.1B
Goodwill	$140M
Intangible Assets	$81M
Long-Term Investments	$20.6B
Tax Assets	$0
Other Non-Current Assets	$856M
TOTAL NON-CURRENT ASSETS	$22.8B
TOTAL ASSETS	$32.2B
Account Payables	$0
Short-Term Debt	$729M
Deferred Revenue	$0
Other Current Liabilities	$27.3B
TOTAL CURRENT LIABILITIES	$28.0B
Long-Term Debt	$851M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$358M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$29.2B
Common Stock	$12M
Additional Paid-In Capital	$659M
Retained Earnings	$2.4B
Treasury Stock	$0
Accum. Other Comp. Income	-$15M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$0
TOTAL EQUITY	$3.0B
TOTAL LIABILITIES & EQUITY	$32.2B
Total Debt	$1.6B
Net Debt	$1.1B