ONB FY 2013 Earnings Report — Old National Bancorp Revenue & Financial Results | Market Cap Arena

Old National BancorpONB

FY 2013 Earnings

Reported February 25, 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	$526M	—	$531M	—	-0.9%
Op. Income	$143M	—	$128M	—	11.5%
Gross Margin	95.8%	—	92.3%	—	3.5pp
Net Margin	19.2%	—	17.3%	—	1.9pp
EPS (Diluted)	$1.00	—	$0.95	—	5.3%
Free Cash Flow	$147M	—	$96M	—	53.6%

Revenue Flow

Item	Amount
REVENUE	$526M
Cost of Revenue	$22M
GROSS PROFIT	$504M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$242M
SG&A Expenses	$249M
Other Expenses	$112M
Operating Expenses	$361M
Cost & Expenses	$383M
OPERATING INCOME	$143M
Interest Income	$342M
Interest Expense	$24M
Other Income/Expenses	$0
INCOME BEFORE TAX	$143M
Income Tax Expense	$42M
Net Income from Continuing Ops	$101M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$101M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$101M
D&A	$19M
EBIT	$143M
EBITDA	$162M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$526M
Cost of Revenue	$22M
GROSS PROFIT	$504M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$242M
SG&A Expenses	$249M
Other Expenses	$112M
Operating Expenses	$361M
Cost & Expenses	$383M
OPERATING INCOME	$143M
Interest Income	$342M
Interest Expense	$24M
Other Income/Expenses	$0
INCOME BEFORE TAX	$143M
Income Tax Expense	$42M
Net Income from Continuing Ops	$101M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$101M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$101M
D&A	$19M
EBIT	$143M
EBITDA	$162M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$101M
Depreciation & Amortization	$19M
Stock-Based Compensation	$4M
Deferred Income Tax	$0
Other Non-Cash Items	$17M
Change in Working Capital	$24M
OPERATING CASH FLOW	$165M
Capital Expenditure	-$19M
Acquisitions (Net)	$362M
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$890M
Other Investing Activities	$130M
NET CASH FROM INVESTING	$101M
Net Debt Issuance	$194M
Common Stock Repurchased	-$24M
Common Dividends Paid	-$40M
Other Financing Activities	-$453M
NET CASH FROM FINANCING	-$324M
FREE CASH FLOW	$147M
Net Change in Cash	-$57M

Balance Sheet

Item	Amount
Cash & Equivalents	$207M
Short-Term Investments	$2.4B
Net Receivables	$50M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.6B
PP&E (Net)	$108M
Goodwill	$353M
Intangible Assets	$26M
Long-Term Investments	$5.8B
Tax Assets	$0
Other Non-Current Assets	$650M
TOTAL NON-CURRENT ASSETS	$7.0B
TOTAL ASSETS	$9.6B
Account Payables	$0
Short-Term Debt	$512M
Deferred Revenue	$0
Other Current Liabilities	$7.2B
TOTAL CURRENT LIABILITIES	$7.9B
Long-Term Debt	$502M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$506M
TOTAL LIABILITIES	$8.4B
Common Stock	$100M
Additional Paid-In Capital	$900M
Retained Earnings	$207M
Treasury Stock	$0
Accum. Other Comp. Income	-$44M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$9.6B
Total Debt	$1.0B
Net Debt	$812M