PBA FY 2014 Earnings Report — Pembina Pipeline Corporation Revenue & Financial Results | Market Cap Arena

Pembina Pipeline CorporationPBA

FY 2014 Earnings

Reported December 30, 2014

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	$4.4B	—	$3.7B	—	20.8%
Op. Income	$513M	—	$483M	—	6.4%
Gross Margin	14.4%	—	15.8%	—	-1.3pp
Net Margin	6.3%	—	7.0%	—	-0.7pp
EPS (Diluted)	$0.78	—	$0.82	—	-5.4%
Free Cash Flow	-$448M	—	-$167M	—	-167.2%

Revenue Flow

Item	Amount
REVENUE	$4.4B
Cost of Revenue	$3.8B
GROSS PROFIT	$641M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$114M
SG&A Expenses	$114M
Other Expenses	-$30M
Operating Expenses	$127M
Cost & Expenses	$3.9B
OPERATING INCOME	$513M
Interest Income	$4M
Interest Expense	$66M
Other Income/Expenses	-$95M
INCOME BEFORE TAX	$418M
Income Tax Expense	$122M
NET INCOME	$280M
D&A	$165M
EBIT	$484M
EBITDA	$647M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.4B
Cost of Revenue	$3.8B
GROSS PROFIT	$641M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$114M
SG&A Expenses	$114M
Other Expenses	-$30M
Operating Expenses	$127M
Cost & Expenses	$3.9B
OPERATING INCOME	$513M
Interest Income	$4M
Interest Expense	$66M
Other Income/Expenses	-$95M
INCOME BEFORE TAX	$418M
Income Tax Expense	$122M
NET INCOME	$280M
D&A	$165M
EBIT	$484M
EBITDA	$647M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$280M
Depreciation & Amortization	$165M
Stock-Based Compensation	$29M
Deferred Income Tax	$122M
Other Non-Cash Items	$13M
Change in Working Capital	-$24M
OPERATING CASH FLOW	$585M
Capital Expenditure	-$1.0B
Acquisitions (Net)	-$340M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$29M
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	$592M
Common Stock Repurchased	$0
Common Dividends Paid	-$197M
Other Financing Activities	-$731.4K
NET CASH FROM FINANCING	$760M
FREE CASH FLOW	-$448M
Net Change in Cash	$1M

Balance Sheet

Item	Amount
Cash & Equivalents	$39M
Short-Term Investments	$0
Net Receivables	$113M
Inventory	$100M
Other Current Assets	$235M
TOTAL CURRENT ASSETS	$503M
PP&E (Net)	$5.5B
Goodwill	$1.5B
Intangible Assets	$549M
Long-Term Investments	$112M
Tax Assets	$14M
Other Non-Current Assets	$731.4K
TOTAL NON-CURRENT ASSETS	$7.7B
TOTAL ASSETS	$8.2B
Account Payables	$325M
Short-Term Debt	$3M
Deferred Revenue	$156M
Other Current Liabilities	$188M
TOTAL CURRENT LIABILITIES	$516M
Long-Term Debt	$2.1B
Deferred Revenue NC	$32M
Deferred Tax Liabilities	$580M
Other Non-Current Liabilities	$385M
TOTAL NON-CURRENT LIABILITIES	$3.1B
TOTAL LIABILITIES	$3.6B
Common Stock	$5.0B
Additional Paid-In Capital	$0
Retained Earnings	-$1.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$15M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.6B
Minority Interest	$0
TOTAL EQUITY	$4.6B
TOTAL LIABILITIES & EQUITY	$8.2B
Total Debt	$2.1B
Net Debt	$2.1B