KEY FY 2014 Earnings Report — KeyCorp Revenue & Financial Results | Market Cap Arena

FY 2014 Earnings

Reported March 2, 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	$4.2B	—	$4.2B	—	-0.7%
Op. Income	$1.3B	—	$1.1B	—	11.5%
Gross Margin	92.4%	—	89.7%	—	2.7pp
Net Margin	21.5%	—	21.5%	—	-0.1pp
EPS (Diluted)	$0.99	—	$0.97	—	2.1%
Free Cash Flow	$1.2B	—	$1.4B	—	-15.5%

Revenue Flow

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$318M
GROSS PROFIT	$3.9B
R&D Expenses	$0
Selling & Marketing	$49M
General & Administrative	$1.6B
SG&A Expenses	$1.7B
Other Expenses	$917M
Operating Expenses	$2.6B
Cost & Expenses	$2.9B
OPERATING INCOME	$1.3B
Interest Income	$2.6B
Interest Expense	$261M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$326M
Net Income from Continuing Ops	$946M
Net Income from Discontinued Ops	-$39M
Other Adjustments	$0
NET INCOME	$900M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$878M
D&A	$246M
EBIT	$1.3B
EBITDA	$1.5B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$318M
GROSS PROFIT	$3.9B
R&D Expenses	$0
Selling & Marketing	$49M
General & Administrative	$1.6B
SG&A Expenses	$1.7B
Other Expenses	$917M
Operating Expenses	$2.6B
Cost & Expenses	$2.9B
OPERATING INCOME	$1.3B
Interest Income	$2.6B
Interest Expense	$261M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$326M
Net Income from Continuing Ops	$946M
Net Income from Discontinued Ops	-$39M
Other Adjustments	$0
NET INCOME	$900M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$878M
D&A	$246M
EBIT	$1.3B
EBITDA	$1.5B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$907M
Depreciation & Amortization	$246M
Stock-Based Compensation	$44M
Deferred Income Tax	$5M
Other Non-Cash Items	$130M
Change in Working Capital	-$12M
OPERATING CASH FLOW	$1.3B
Capital Expenditure	-$97M
Acquisitions (Net)	-$104M
Purchases of Investments	-$5.0B
Sales/Maturities of Investments	$5.5B
Other Investing Activities	-$3.1B
NET CASH FROM INVESTING	-$2.8B
Net Debt Issuance	-$507M
Common Stock Repurchased	-$484M
Common Dividends Paid	-$240M
Other Financing Activities	$2.7B
NET CASH FROM FINANCING	$1.5B
FREE CASH FLOW	$1.2B
Net Change in Cash	$36M

Balance Sheet

Item	Amount
Cash & Equivalents	$653M
Short-Term Investments	$17.6B
Net Receivables	$4.2B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$22.5B
PP&E (Net)	$841M
Goodwill	$1.1B
Intangible Assets	$101M
Long-Term Investments	$61.8B
Tax Assets	$0
Other Non-Current Assets	$7.5B
TOTAL NON-CURRENT ASSETS	$71.3B
TOTAL ASSETS	$93.8B
Account Payables	$0
Short-Term Debt	$998M
Deferred Revenue	$0
Other Current Liabilities	$72.0B
TOTAL CURRENT LIABILITIES	$74.6B
Long-Term Debt	$7.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$787M
TOTAL NON-CURRENT LIABILITIES	$8.7B
TOTAL LIABILITIES	$83.3B
Common Stock	$1.0B
Additional Paid-In Capital	$4.0B
Retained Earnings	$8.3B
Treasury Stock	-$2.7B
Accum. Other Comp. Income	-$356M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$10.5B
Minority Interest	$12M
TOTAL EQUITY	$10.5B
TOTAL LIABILITIES & EQUITY	$93.8B
Total Debt	$8.9B
Net Debt	$8.2B