KEY FY 2013 Earnings Report — KeyCorp Revenue & Financial Results | Market Cap Arena

FY 2013 Earnings

Reported February 26, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$4.2B	—	$4.4B	—	-3.4%
Op. Income	$1.1B	—	$1.1B	—	6.3%
Gross Margin	89.7%	—	85.0%	—	4.7pp
Net Margin	21.5%	—	19.6%	—	1.9pp
EPS (Diluted)	$0.97	—	$0.89	—	9.0%
Free Cash Flow	$1.4B	—	$1.1B	—	27.5%

Revenue Flow

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$433M
GROSS PROFIT	$3.8B
R&D Expenses	$0
Selling & Marketing	$51M
General & Administrative	$1.6B
SG&A Expenses	$1.7B
Other Expenses	$950M
Operating Expenses	$2.6B
Cost & Expenses	$3.1B
OPERATING INCOME	$1.1B
Interest Income	$2.6B
Interest Expense	$295M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$271M
Net Income from Continuing Ops	$870M
Net Income from Discontinued Ops	$40M
Other Adjustments	$0
NET INCOME	$910M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$887M
D&A	$221M
EBIT	$1.1B
EBITDA	$1.4B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$433M
GROSS PROFIT	$3.8B
R&D Expenses	$0
Selling & Marketing	$51M
General & Administrative	$1.6B
SG&A Expenses	$1.7B
Other Expenses	$950M
Operating Expenses	$2.6B
Cost & Expenses	$3.1B
OPERATING INCOME	$1.1B
Interest Income	$2.6B
Interest Expense	$295M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$271M
Net Income from Continuing Ops	$870M
Net Income from Discontinued Ops	$40M
Other Adjustments	$0
NET INCOME	$910M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$887M
D&A	$221M
EBIT	$1.1B
EBITDA	$1.4B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$910M
Depreciation & Amortization	$221M
Stock-Based Compensation	$35M
Deferred Income Tax	$29M
Other Non-Cash Items	$485M
Change in Working Capital	-$133M
OPERATING CASH FLOW	$1.5B
Capital Expenditure	-$100M
Acquisitions (Net)	$732M
Purchases of Investments	-$8.6B
Sales/Maturities of Investments	$5.5B
Other Investing Activities	-$1.8B
NET CASH FROM INVESTING	-$4.2B
Net Debt Issuance	$1.0B
Common Stock Repurchased	-$474M
Common Dividends Paid	-$217M
Other Financing Activities	$2.3B
NET CASH FROM FINANCING	$2.7B
FREE CASH FLOW	$1.4B
Net Change in Cash	$33M

Balance Sheet

Item	Amount
Cash & Equivalents	$617M
Short-Term Investments	$17.9B
Net Receivables	$4.5B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$23.0B
PP&E (Net)	$885M
Goodwill	$979M
Intangible Assets	$127M
Long-Term Investments	$60.4B
Tax Assets	$0
Other Non-Current Assets	$7.5B
TOTAL NON-CURRENT ASSETS	$69.9B
TOTAL ASSETS	$92.9B
Account Payables	$0
Short-Term Debt	$1.9B
Deferred Revenue	$0
Other Current Liabilities	$69.3B
TOTAL CURRENT LIABILITIES	$72.7B
Long-Term Debt	$7.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2.3B
TOTAL NON-CURRENT LIABILITIES	$9.9B
TOTAL LIABILITIES	$82.6B
Common Stock	$1.0B
Additional Paid-In Capital	$4.0B
Retained Earnings	$7.6B
Treasury Stock	-$2.3B
Accum. Other Comp. Income	-$352M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$10.3B
Minority Interest	$17M
TOTAL EQUITY	$10.3B
TOTAL LIABILITIES & EQUITY	$92.9B
Total Debt	$9.5B
Net Debt	$8.9B