PBA FY 2012 Earnings Report — Pembina Pipeline Corporation Revenue & Financial Results | Market Cap Arena

Pembina Pipeline CorporationPBA

FY 2012 Earnings

Reported December 30, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$2.5B	—	$1.2B	—	104.4%
Op. Income	$305M	—	$206M	—	48.2%
Gross Margin	15.7%	—	20.6%	—	-4.8pp
Net Margin	6.6%	—	9.9%	—	-3.3pp
EPS (Diluted)	$0.64	—	$0.72	—	-12.1%
Free Cash Flow	-$137M	—	-$141M	—	2.9%

Revenue Flow

Item	Amount
REVENUE	$2.5B
Cost of Revenue	$2.1B
GROSS PROFIT	$394M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$67M
SG&A Expenses	$67M
Other Expenses	$4M
Operating Expenses	$71M
Cost & Expenses	$2.2B
OPERATING INCOME	$305M
Interest Income	$1M
Interest Expense	$89M
Other Income/Expenses	-$102M
INCOME BEFORE TAX	$220M
Income Tax Expense	$55M
NET INCOME	$164M
D&A	$131M
EBIT	$309M
EBITDA	$441M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.5B
Cost of Revenue	$2.1B
GROSS PROFIT	$394M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$67M
SG&A Expenses	$67M
Other Expenses	$4M
Operating Expenses	$71M
Cost & Expenses	$2.2B
OPERATING INCOME	$305M
Interest Income	$1M
Interest Expense	$89M
Other Income/Expenses	-$102M
INCOME BEFORE TAX	$220M
Income Tax Expense	$55M
NET INCOME	$164M
D&A	$131M
EBIT	$309M
EBITDA	$441M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$165M
Depreciation & Amortization	$131M
Stock-Based Compensation	$12M
Deferred Income Tax	$55M
Other Non-Cash Items	-$20M
Change in Working Capital	-$80M
OPERATING CASH FLOW	$263M
Capital Expenditure	-$400M
Acquisitions (Net)	$506.1K
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$27M
NET CASH FROM INVESTING	-$399M
Net Debt Issuance	$284M
Common Stock Repurchased	$0
Common Dividends Paid	-$132M
Other Financing Activities	-$243.6K
NET CASH FROM FINANCING	$157M
FREE CASH FLOW	-$137M
Net Change in Cash	$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$20M
Short-Term Investments	$0
Net Receivables	$235M
Inventory	$79M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$347M
PP&E (Net)	$3.7B
Goodwill	$1.4B
Intangible Assets	$473M
Long-Term Investments	$118M
Tax Assets	$6M
Other Non-Current Assets	-$3M
TOTAL NON-CURRENT ASSETS	$5.7B
TOTAL ASSETS	$6.1B
Account Payables	$220M
Short-Term Debt	$9M
Deferred Revenue	$60M
Other Current Liabilities	$12M
TOTAL CURRENT LIABILITIES	$301M
Long-Term Debt	$1.9B
Deferred Revenue NC	$2M
Deferred Tax Liabilities	$428M
Other Non-Current Liabilities	$336M
TOTAL NON-CURRENT LIABILITIES	$2.6B
TOTAL LIABILITIES	$2.9B
Common Stock	$3.9B
Additional Paid-In Capital	$3.9B
Retained Earnings	-$752M
Treasury Stock	$0
Accum. Other Comp. Income	-$19M
Other Equity	-$3.9B
TOTAL STOCKHOLDERS' EQUITY	$3.1B
Minority Interest	$4M
TOTAL EQUITY	$3.1B
TOTAL LIABILITIES & EQUITY	$6.1B
Total Debt	$1.9B
Net Debt	$1.8B