ONB FY 2014 Earnings Report — Old National Bancorp Revenue & Financial Results | Market Cap Arena

Old National BancorpONB

FY 2014 Earnings

Reported February 25, 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	$592M	—	$526M	—	12.5%
Op. Income	$142M	—	$143M	—	-0.4%
Gross Margin	95.5%	—	95.8%	—	-0.3pp
Net Margin	17.5%	—	19.2%	—	-1.7pp
EPS (Diluted)	$0.95	—	$1.00	—	-5.0%
Free Cash Flow	$179M	—	$147M	—	22.1%

Revenue Flow

Item	Amount
REVENUE	$592M
Cost of Revenue	$26M
GROSS PROFIT	$565M
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$264M
SG&A Expenses	$274M
Other Expenses	$150M
Operating Expenses	$423M
Cost & Expenses	$450M
OPERATING INCOME	$142M
Interest Income	$390M
Interest Expense	$23M
Other Income/Expenses	$0
INCOME BEFORE TAX	$142M
Income Tax Expense	$38M
Net Income from Continuing Ops	$104M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$104M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$104M
D&A	$21M
EBIT	$142M
EBITDA	$163M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$592M
Cost of Revenue	$26M
GROSS PROFIT	$565M
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$264M
SG&A Expenses	$274M
Other Expenses	$150M
Operating Expenses	$423M
Cost & Expenses	$450M
OPERATING INCOME	$142M
Interest Income	$390M
Interest Expense	$23M
Other Income/Expenses	$0
INCOME BEFORE TAX	$142M
Income Tax Expense	$38M
Net Income from Continuing Ops	$104M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$104M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$104M
D&A	$21M
EBIT	$142M
EBITDA	$163M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$104M
Depreciation & Amortization	$21M
Stock-Based Compensation	$4M
Deferred Income Tax	$0
Other Non-Cash Items	$41M
Change in Working Capital	$29M
OPERATING CASH FLOW	$200M
Capital Expenditure	-$20M
Acquisitions (Net)	-$3M
Purchases of Investments	-$672M
Sales/Maturities of Investments	$700M
Other Investing Activities	-$166M
NET CASH FROM INVESTING	-$162M
Net Debt Issuance	$314M
Common Stock Repurchased	-$26M
Common Dividends Paid	-$48M
Other Financing Activities	-$244M
NET CASH FROM FINANCING	-$4M
FREE CASH FLOW	$179M
Net Change in Cash	$33M

Balance Sheet

Item	Amount
Cash & Equivalents	$240M
Short-Term Investments	$2.6B
Net Receivables	$61M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.9B
PP&E (Net)	$136M
Goodwill	$531M
Intangible Assets	$39M
Long-Term Investments	$7.3B
Tax Assets	$0
Other Non-Current Assets	$675M
TOTAL NON-CURRENT ASSETS	$8.7B
TOTAL ASSETS	$11.6B
Account Payables	$0
Short-Term Debt	$601M
Deferred Revenue	$0
Other Current Liabilities	$8.5B
TOTAL CURRENT LIABILITIES	$9.3B
Long-Term Debt	$865M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$869M
TOTAL LIABILITIES	$10.2B
Common Stock	$117M
Additional Paid-In Capital	$1.1B
Retained Earnings	$262M
Treasury Stock	$0
Accum. Other Comp. Income	-$32M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$11.6B
Total Debt	$1.5B
Net Debt	$1.2B