FIBK FY 2014 Earnings Report — First Interstate BancSystem, Inc. Revenue & Financial Results | Market Cap Arena

First Interstate BancSystem, Inc.FIBK

FY 2014 Earnings

Reported February 27, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$379M	—	$369M	—	2.6%
Op. Income	$130M	—	$133M	—	-2.3%
Gross Margin	96.8%	—	96.1%	—	0.8pp
Net Margin	22.3%	—	23.3%	—	-1.0pp
EPS (Diluted)	$1.87	—	$1.96	—	-4.6%
Free Cash Flow	$122M	—	$145M	—	-15.6%

Revenue Flow

Item	Amount
REVENUE	$379M
Cost of Revenue	$12M
GROSS PROFIT	$367M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$132M
SG&A Expenses	$132M
Other Expenses	$106M
Operating Expenses	$237M
Cost & Expenses	$249M
OPERATING INCOME	$130M
Interest Income	$267M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$130M
Income Tax Expense	$45M
Net Income from Continuing Ops	$84M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$84M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$84M
D&A	$17M
EBIT	$130M
EBITDA	$146M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$379M
Cost of Revenue	$12M
GROSS PROFIT	$367M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$132M
SG&A Expenses	$132M
Other Expenses	$106M
Operating Expenses	$237M
Cost & Expenses	$249M
OPERATING INCOME	$130M
Interest Income	$267M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$130M
Income Tax Expense	$45M
Net Income from Continuing Ops	$84M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$84M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$84M
D&A	$17M
EBIT	$130M
EBITDA	$146M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$84M
Depreciation & Amortization	$17M
Stock-Based Compensation	$4M
Deferred Income Tax	$5M
Other Non-Cash Items	$4M
Change in Working Capital	$8M
OPERATING CASH FLOW	$122M
Capital Expenditure	$0
Acquisitions (Net)	$36M
Purchases of Investments	-$686M
Sales/Maturities of Investments	$662M
Other Investing Activities	-$207M
NET CASH FROM INVESTING	-$196M
Net Debt Issuance	-$33M
Common Stock Repurchased	-$10M
Common Dividends Paid	-$29M
Other Financing Activities	$403M
NET CASH FROM FINANCING	$338M
FREE CASH FLOW	$122M
Net Change in Cash	$264M

Balance Sheet

Item	Amount
Cash & Equivalents	$798M
Short-Term Investments	$1.7B
Net Receivables	$27M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.5B
PP&E (Net)	$195M
Goodwill	$206M
Intangible Assets	$27M
Long-Term Investments	$5.4B
Tax Assets	$5M
Other Non-Current Assets	$241M
TOTAL NON-CURRENT ASSETS	$6.1B
TOTAL ASSETS	$8.6B
Account Payables	$72M
Short-Term Debt	$502M
Deferred Revenue	$0
Other Current Liabilities	$7.0B
TOTAL CURRENT LIABILITIES	$7.6B
Long-Term Debt	$119M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$121M
TOTAL LIABILITIES	$7.7B
Common Stock	$324M
Additional Paid-In Capital	$0
Retained Earnings	$588M
Treasury Stock	$0
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$909M
Minority Interest	$0
TOTAL EQUITY	$909M
TOTAL LIABILITIES & EQUITY	$8.6B
Total Debt	$623M
Net Debt	-$175M