FRME FY 2015 Earnings Report — First Merchants Corporation Revenue & Financial Results | Market Cap Arena

First Merchants CorporationFRME

FY 2015 Earnings

Reported February 29, 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	$282M	—	$271M	—	4.0%
Op. Income	$91M	—	$82M	—	10.7%
Gross Margin	91.0%	—	91.0%	—	0.1pp
Net Margin	23.2%	—	22.2%	—	1.0pp
EPS (Diluted)	$1.72	—	$1.65	—	4.2%
Free Cash Flow	$57M	—	$76M	—	-25.3%

Revenue Flow

Item	Amount
REVENUE	$282M
Cost of Revenue	$25M
GROSS PROFIT	$256M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$106M
SG&A Expenses	$109M
Other Expenses	$56M
Operating Expenses	$165M
Cost & Expenses	$191M
OPERATING INCOME	$91M
Interest Income	$221M
Interest Expense	$25M
Other Income/Expenses	$0
INCOME BEFORE TAX	$91M
Income Tax Expense	$26M
Net Income from Continuing Ops	$65M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$65M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$65M
D&A	$6M
EBIT	$91M
EBITDA	$97M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$282M
Cost of Revenue	$25M
GROSS PROFIT	$256M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$106M
SG&A Expenses	$109M
Other Expenses	$56M
Operating Expenses	$165M
Cost & Expenses	$191M
OPERATING INCOME	$91M
Interest Income	$221M
Interest Expense	$25M
Other Income/Expenses	$0
INCOME BEFORE TAX	$91M
Income Tax Expense	$26M
Net Income from Continuing Ops	$65M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$65M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$65M
D&A	$6M
EBIT	$91M
EBITDA	$97M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$65M
Depreciation & Amortization	$6M
Stock-Based Compensation	$2M
Deferred Income Tax	$4M
Other Non-Cash Items	-$16M
Change in Working Capital	-$6M
OPERATING CASH FLOW	$57M
Capital Expenditure	$0
Acquisitions (Net)	$7M
Purchases of Investments	-$287M
Sales/Maturities of Investments	$245M
Other Investing Activities	-$306M
NET CASH FROM INVESTING	-$340M
Net Debt Issuance	$121M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$16M
Other Financing Activities	$164M
NET CASH FROM FINANCING	$267M
FREE CASH FLOW	$57M
Net Change in Cash	-$16M

Balance Sheet

Item	Amount
Cash & Equivalents	$134M
Short-Term Investments	$658M
Net Receivables	$25M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$818M
PP&E (Net)	$98M
Goodwill	$243M
Intangible Assets	$17M
Long-Term Investments	$5.3B
Tax Assets	$47M
Other Non-Current Assets	$279M
TOTAL NON-CURRENT ASSETS	$5.9B
TOTAL ASSETS	$6.8B
Account Payables	$3M
Short-Term Debt	$205M
Deferred Revenue	$0
Other Current Liabilities	$5.3B
TOTAL CURRENT LIABILITIES	$5.5B
Long-Term Debt	$363M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$49M
TOTAL NON-CURRENT LIABILITIES	$413M
TOTAL LIABILITIES	$5.9B
Common Stock	$5M
Additional Paid-In Capital	$505M
Retained Earnings	$342M
Treasury Stock	$0
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$851M
Minority Interest	$0
TOTAL EQUITY	$851M
TOTAL LIABILITIES & EQUITY	$6.8B
Total Debt	$569M
Net Debt	$434M