SSB FY 2015 Earnings Report — SouthState Corporation Revenue & Financial Results | Market Cap Arena

SouthState CorporationSSB

FY 2015 Earnings

Reported February 24, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$450M	—	$448M	—	0.4%
Op. Income	$150M	—	$111M	—	35.0%
Gross Margin	96.4%	—	95.0%	—	1.4pp
Net Margin	22.1%	—	16.8%	—	5.3pp
EPS (Diluted)	$4.11	—	$3.08	—	33.4%
Free Cash Flow	$172M	—	$103M	—	67.4%

Revenue Flow

Item	Amount
REVENUE	$450M
Cost of Revenue	$16M
GROSS PROFIT	$434M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$200M
SG&A Expenses	$204M
Other Expenses	$80M
Operating Expenses	$283M
Cost & Expenses	$300M
OPERATING INCOME	$150M
Interest Income	$338M
Interest Expense	$10M
Other Income/Expenses	$0
INCOME BEFORE TAX	$150M
Income Tax Expense	$51M
Net Income from Continuing Ops	$99M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$99M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$99M
D&A	$21M
EBIT	$150M
EBITDA	$172M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$450M
Cost of Revenue	$16M
GROSS PROFIT	$434M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$200M
SG&A Expenses	$204M
Other Expenses	$80M
Operating Expenses	$283M
Cost & Expenses	$300M
OPERATING INCOME	$150M
Interest Income	$338M
Interest Expense	$10M
Other Income/Expenses	$0
INCOME BEFORE TAX	$150M
Income Tax Expense	$51M
Net Income from Continuing Ops	$99M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$99M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$99M
D&A	$21M
EBIT	$150M
EBITDA	$172M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$99M
Depreciation & Amortization	$21M
Stock-Based Compensation	$6M
Deferred Income Tax	$7M
Other Non-Cash Items	$41M
Change in Working Capital	$12M
OPERATING CASH FLOW	$187M
Capital Expenditure	-$15M
Acquisitions (Net)	$404M
Purchases of Investments	-$436M
Sales/Maturities of Investments	$226M
Other Investing Activities	-$281M
NET CASH FROM INVESTING	-$103M
Net Debt Issuance	-$46M
Common Stock Repurchased	-$6M
Common Dividends Paid	-$24M
Other Financing Activities	$269M
NET CASH FROM FINANCING	$194M
FREE CASH FLOW	$172M
Net Change in Cash	$278M

Balance Sheet

Item	Amount
Cash & Equivalents	$398M
Short-Term Investments	$1.0B
Net Receivables	$4M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$175M
Goodwill	$338M
Intangible Assets	$74M
Long-Term Investments	$6.0B
Tax Assets	$38M
Other Non-Current Assets	$492M
TOTAL NON-CURRENT ASSETS	$7.1B
TOTAL ASSETS	$8.6B
Account Payables	$0
Short-Term Debt	$288M
Deferred Revenue	$0
Other Current Liabilities	$7.1B
TOTAL CURRENT LIABILITIES	$7.4B
Long-Term Debt	$55M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$54M
TOTAL NON-CURRENT LIABILITIES	$109M
TOTAL LIABILITIES	$7.5B
Common Stock	$60M
Additional Paid-In Capital	$704M
Retained Earnings	$299M
Treasury Stock	$0
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$8.6B
Total Debt	$343M
Net Debt	-$54M