SSB FY 2016 Earnings Report — SouthState Corporation Revenue & Financial Results | Market Cap Arena

SouthState CorporationSSB

FY 2016 Earnings

Reported February 24, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$455M	—	$450M	—	1.2%
Op. Income	$154M	—	$150M	—	2.4%
Gross Margin	96.7%	—	96.4%	—	0.3pp
Net Margin	22.3%	—	22.1%	—	0.1pp
EPS (Diluted)	$4.18	—	$4.11	—	1.7%
Free Cash Flow	$112M	—	$172M	—	-34.6%

Revenue Flow

Item	Amount
REVENUE	$455M
Cost of Revenue	$15M
GROSS PROFIT	$440M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$205M
SG&A Expenses	$208M
Other Expenses	$78M
Operating Expenses	$286M
Cost & Expenses	$301M
OPERATING INCOME	$154M
Interest Income	$333M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$154M
Income Tax Expense	$53M
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	$22M
EBIT	$154M
EBITDA	$176M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$455M
Cost of Revenue	$15M
GROSS PROFIT	$440M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$205M
SG&A Expenses	$208M
Other Expenses	$78M
Operating Expenses	$286M
Cost & Expenses	$301M
OPERATING INCOME	$154M
Interest Income	$333M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$154M
Income Tax Expense	$53M
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	$22M
EBIT	$154M
EBITDA	$176M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$101M
Depreciation & Amortization	$22M
Stock-Based Compensation	$6M
Deferred Income Tax	$9M
Other Non-Cash Items	$4M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$138M
Capital Expenditure	-$26M
Acquisitions (Net)	$0
Purchases of Investments	-$386M
Sales/Maturities of Investments	$387M
Other Investing Activities	-$666M
NET CASH FROM INVESTING	-$691M
Net Debt Issuance	-$14.0K
Common Stock Repurchased	-$6M
Common Dividends Paid	-$29M
Other Financing Activities	$266M
NET CASH FROM FINANCING	$232M
FREE CASH FLOW	$112M
Net Change in Cash	-$321M

Balance Sheet

Item	Amount
Cash & Equivalents	$238M
Short-Term Investments	$999M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$184M
Goodwill	$338M
Intangible Assets	$69M
Long-Term Investments	$6.7B
Tax Assets	$31M
Other Non-Current Assets	$332M
TOTAL NON-CURRENT ASSETS	$7.7B
TOTAL ASSETS	$8.9B
Account Payables	$0
Short-Term Debt	$314M
Deferred Revenue	$0
Other Current Liabilities	$7.3B
TOTAL CURRENT LIABILITIES	$7.6B
Long-Term Debt	$55M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$62M
TOTAL NON-CURRENT LIABILITIES	$118M
TOTAL LIABILITIES	$7.8B
Common Stock	$61M
Additional Paid-In Capital	$711M
Retained Earnings	$371M
Treasury Stock	$0
Accum. Other Comp. Income	-$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$8.9B
Total Debt	$369M
Net Debt	$131M