SSB FY 2017 Earnings Report — SouthState Corporation Revenue & Financial Results | Market Cap Arena

SouthState CorporationSSB

FY 2017 Earnings

Reported February 23, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$561M	—	$455M	—	23.3%
Op. Income	$169M	—	$154M	—	9.6%
Gross Margin	94.9%	—	96.7%	—	-1.8pp
Net Margin	15.6%	—	22.3%	—	-6.7pp
EPS (Diluted)	$2.93	—	$4.18	—	-29.9%
Free Cash Flow	$183M	—	$112M	—	62.8%

Revenue Flow

Item	Amount
REVENUE	$561M
Cost of Revenue	$29M
GROSS PROFIT	$532M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$241M
SG&A Expenses	$245M
Other Expenses	$119M
Operating Expenses	$364M
Cost & Expenses	$392M
OPERATING INCOME	$169M
Interest Income	$426M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$169M
Income Tax Expense	$81M
Net Income from Continuing Ops	$88M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$88M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$88M
D&A	$29M
EBIT	$169M
EBITDA	$198M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$561M
Cost of Revenue	$29M
GROSS PROFIT	$532M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$241M
SG&A Expenses	$245M
Other Expenses	$119M
Operating Expenses	$364M
Cost & Expenses	$392M
OPERATING INCOME	$169M
Interest Income	$426M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$169M
Income Tax Expense	$81M
Net Income from Continuing Ops	$88M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$88M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$88M
D&A	$29M
EBIT	$169M
EBITDA	$198M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$88M
Depreciation & Amortization	$29M
Stock-Based Compensation	$7M
Deferred Income Tax	$32M
Other Non-Cash Items	$69M
Change in Working Capital	-$26M
OPERATING CASH FLOW	$198M
Capital Expenditure	-$15M
Acquisitions (Net)	$185M
Purchases of Investments	-$246M
Sales/Maturities of Investments	$630M
Other Investing Activities	-$615M
NET CASH FROM INVESTING	-$61M
Net Debt Issuance	-$291M
Common Stock Repurchased	-$6M
Common Dividends Paid	-$39M
Other Financing Activities	$200M
NET CASH FROM FINANCING	-$134M
FREE CASH FLOW	$183M
Net Change in Cash	$3M

Balance Sheet

Item	Amount
Cash & Equivalents	$373M
Short-Term Investments	$1.7B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.0B
PP&E (Net)	$256M
Goodwill	$1000M
Intangible Assets	$105M
Long-Term Investments	$10.7B
Tax Assets	$46M
Other Non-Current Assets	$367M
TOTAL NON-CURRENT ASSETS	$12.4B
TOTAL ASSETS	$14.5B
Account Payables	$0
Short-Term Debt	$387M
Deferred Revenue	$0
Other Current Liabilities	$11.5B
TOTAL CURRENT LIABILITIES	$11.9B
Long-Term Debt	$116M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$122M
TOTAL NON-CURRENT LIABILITIES	$238M
TOTAL LIABILITIES	$12.2B
Common Stock	$92M
Additional Paid-In Capital	$1.8B
Retained Earnings	$420M
Treasury Stock	$0
Accum. Other Comp. Income	-$10M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$0
TOTAL EQUITY	$2.3B
TOTAL LIABILITIES & EQUITY	$14.5B
Total Debt	$503M
Net Debt	$130M