ZION FY 2012 Earnings Report — Zions Bancorporation, National Association Revenue & Financial Results | Market Cap Arena

Zions Bancorporation, National AssociationZION

FY 2012 Earnings

Reported February 28, 2013

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	$2.5B	—	$2.7B	—	-8.5%
Op. Income	$542M	—	$521M	—	3.9%
Gross Margin	86.9%	—	81.1%	—	5.8pp
Net Margin	14.2%	—	12.1%	—	2.2pp
EPS (Diluted)	$0.97	—	$0.83	—	16.9%
Free Cash Flow	$667M	—	$991M	—	-32.7%

Revenue Flow

Item	Amount
REVENUE	$2.5B
Cost of Revenue	$321M
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$26M
General & Administrative	$929M
SG&A Expenses	$955M
Other Expenses	$641M
Operating Expenses	$1.6B
Cost & Expenses	$1.9B
OPERATING INCOME	$542M
Interest Income	$2.0B
Interest Expense	$307M
Other Income/Expenses	$0
INCOME BEFORE TAX	$542M
Income Tax Expense	$193M
Net Income from Continuing Ops	$348M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$350M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$177M
D&A	$185M
EBIT	$542M
EBITDA	$727M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.5B
Cost of Revenue	$321M
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$26M
General & Administrative	$929M
SG&A Expenses	$955M
Other Expenses	$641M
Operating Expenses	$1.6B
Cost & Expenses	$1.9B
OPERATING INCOME	$542M
Interest Income	$2.0B
Interest Expense	$307M
Other Income/Expenses	$0
INCOME BEFORE TAX	$542M
Income Tax Expense	$193M
Net Income from Continuing Ops	$348M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$350M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$177M
D&A	$185M
EBIT	$542M
EBITDA	$727M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$348M
Depreciation & Amortization	$185M
Stock-Based Compensation	$32M
Deferred Income Tax	$10M
Other Non-Cash Items	$113M
Change in Working Capital	$80M
OPERATING CASH FLOW	$736M
Capital Expenditure	-$69M
Acquisitions (Net)	-$20M
Purchases of Investments	-$2.7B
Sales/Maturities of Investments	$1.3B
Other Investing Activities	-$481M
NET CASH FROM INVESTING	-$1.9B
Net Debt Issuance	$14M
Common Stock Repurchased	$0
Common Dividends Paid	-$134M
Other Financing Activities	$3.3B
NET CASH FROM FINANCING	$1.8B
FREE CASH FLOW	$667M
Net Change in Cash	$618M

Balance Sheet

Item	Amount
Cash & Equivalents	$7.8B
Short-Term Investments	$3.1B
Net Receivables	$423M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$11.3B
PP&E (Net)	$709M
Goodwill	$1.0B
Intangible Assets	$51M
Long-Term Investments	$38.2B
Tax Assets	$0
Other Non-Current Assets	$4.2B
TOTAL NON-CURRENT ASSETS	$44.2B
TOTAL ASSETS	$55.5B
Account Payables	$0
Short-Term Debt	$353M
Deferred Revenue	$0
Other Current Liabilities	$46.1B
TOTAL CURRENT LIABILITIES	$46.5B
Long-Term Debt	$2.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$640M
TOTAL NON-CURRENT LIABILITIES	$3.0B
TOTAL LIABILITIES	$49.5B
Common Stock	$4.2B
Additional Paid-In Capital	$0
Retained Earnings	$1.2B
Treasury Stock	$0
Accum. Other Comp. Income	-$446M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.1B
Minority Interest	-$3M
TOTAL EQUITY	$6.0B
TOTAL LIABILITIES & EQUITY	$55.5B
Total Debt	$2.7B
Net Debt	-$5.1B