SYF FY 2012 Earnings Report — Synchrony Financial Revenue & Financial Results | Market Cap Arena

Synchrony FinancialSYF

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	$8.8B	—	$8.2B	—	7.3%
Op. Income	$3.4B	—	$3.0B	—	12.2%
Gross Margin	62.4%	—	61.1%	—	1.3pp
Net Margin	24.1%	—	23.0%	—	1.0pp
EPS (Diluted)	$2.55	—	$2.28	—	11.8%
Free Cash Flow	$5.6B	—	$838M	—	572.7%

Revenue Flow

Item	Amount
REVENUE	$8.8B
Cost of Revenue	$3.3B
GROSS PROFIT	$5.5B
R&D Expenses	$0
Selling & Marketing	$208M
General & Administrative	$620M
SG&A Expenses	$828M
Other Expenses	$1.3B
Operating Expenses	$2.1B
Cost & Expenses	$5.4B
OPERATING INCOME	$3.4B
Interest Income	$10.3B
Interest Expense	$745M
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.4B
Income Tax Expense	$1.3B
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$83M
EBIT	$3.4B
EBITDA	$3.5B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$8.8B
Cost of Revenue	$3.3B
GROSS PROFIT	$5.5B
R&D Expenses	$0
Selling & Marketing	$208M
General & Administrative	$620M
SG&A Expenses	$828M
Other Expenses	$1.3B
Operating Expenses	$2.1B
Cost & Expenses	$5.4B
OPERATING INCOME	$3.4B
Interest Income	$10.3B
Interest Expense	$745M
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.4B
Income Tax Expense	$1.3B
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$83M
EBIT	$3.4B
EBITDA	$3.5B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$2.1B
Depreciation & Amortization	$83M
Stock-Based Compensation	$0
Deferred Income Tax	-$18M
Other Non-Cash Items	$60M
Change in Working Capital	$828M
OPERATING CASH FLOW	$5.6B
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$31M
Sales/Maturities of Investments	$40M
Other Investing Activities	-$6.5B
NET CASH FROM INVESTING	-$6.5B
Net Debt Issuance	$1.9B
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$963M
NET CASH FROM FINANCING	$962M
FREE CASH FLOW	$5.6B
Net Change in Cash	$147M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$188M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$0
Goodwill	$936M
Intangible Assets	$255M
Long-Term Investments	$52.3B
Tax Assets	$0
Other Non-Current Assets	-$1.6B
TOTAL NON-CURRENT ASSETS	$51.9B
TOTAL ASSETS	$53.5B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$18.8B
TOTAL CURRENT LIABILITIES	$21.1B
Long-Term Debt	$27.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$27.8B
TOTAL LIABILITIES	$48.9B
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$4.6B
TOTAL STOCKHOLDERS' EQUITY	$4.6B
Minority Interest	$0
TOTAL EQUITY	$4.6B
TOTAL LIABILITIES & EQUITY	$53.5B
Total Debt	$27.8B
Net Debt	$26.5B