NRUC FY 2017 Earnings Report — National Rural Utilities Cooper Revenue & Financial Results | Market Cap Arena

National Rural Utilities CooperNRUC

FY 2017 Earnings

Reported August 1, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$404M	—	$43M	—	830.3%
Op. Income	$317M	—	-$43M	—	838.5%
Gross Margin	100.0%	—	100.0%	—	0.0pp
Net Margin	76.8%	—	-114.5%	—	191.3pp
EPS (Diluted)	$0.00	—	$0.00	—	NaN%
Free Cash Flow	$162M	—	$218M	—	-25.7%

Revenue Flow

Item	Amount
REVENUE	$404M
Cost of Revenue	$0
GROSS PROFIT	$404M
R&D Expenses	$0
Selling & Marketing	$48M
General & Administrative	$38M
SG&A Expenses	$86M
Other Expenses	$0
Operating Expenses	$86M
Cost & Expenses	$86M
OPERATING INCOME	$317M
Interest Income	$0
Interest Expense	$742M
Other Income/Expenses	-$4M
INCOME BEFORE TAX	$314M
Income Tax Expense	$2M
Net Income from Continuing Ops	$312M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$310M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$310M
D&A	-$316M
EBIT	$635M
EBITDA	-$4M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$404M
Cost of Revenue	$0
GROSS PROFIT	$404M
R&D Expenses	$0
Selling & Marketing	$48M
General & Administrative	$38M
SG&A Expenses	$86M
Other Expenses	$0
Operating Expenses	$86M
Cost & Expenses	$86M
OPERATING INCOME	$317M
Interest Income	$0
Interest Expense	$742M
Other Income/Expenses	-$4M
INCOME BEFORE TAX	$314M
Income Tax Expense	$2M
Net Income from Continuing Ops	$312M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$310M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$310M
D&A	-$316M
EBIT	$635M
EBITDA	-$4M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$310M
Depreciation & Amortization	$7M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$139M
Change in Working Capital	$2M
OPERATING CASH FLOW	$180M
Capital Expenditure	-$18M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$981M
NET CASH FROM INVESTING	-$998M
Net Debt Issuance	$439M
Common Stock Repurchased	-$42M
Common Dividends Paid	$0
Other Financing Activities	$401M
NET CASH FROM FINANCING	$798M
FREE CASH FLOW	$162M
Net Change in Cash	-$16M

Balance Sheet

Item	Amount
Cash & Equivalents	$167M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$167M
PP&E (Net)	$94M
Goodwill	$0
Intangible Assets	$28M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$24.9B
TOTAL NON-CURRENT ASSETS	$25.0B
TOTAL ASSETS	$25.2B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$74M
Other Current Liabilities	$64M
TOTAL CURRENT LIABILITIES	$137M
Long-Term Debt	$20.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$4.0B
TOTAL NON-CURRENT LIABILITIES	$24.1B
TOTAL LIABILITIES	$24.1B
Common Stock	$971.0K
Additional Paid-In Capital	$0
Retained Earnings	$756M
Treasury Stock	$0
Accum. Other Comp. Income	$313M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$29M
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$25.2B
Total Debt	$20.1B
Net Debt	$20.0B