ZION FY 2013 Earnings Report — Zions Bancorporation, National Association Revenue & Financial Results | Market Cap Arena

Zions Bancorporation, National AssociationZION

FY 2013 Earnings

Reported March 3, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$2.3B	—	$2.5B	—	-7.3%
Op. Income	$406M	—	$542M	—	-25.0%
Gross Margin	93.1%	—	86.9%	—	6.1pp
Net Margin	11.6%	—	14.2%	—	-2.6pp
EPS (Diluted)	$1.58	—	$0.97	—	62.9%
Free Cash Flow	$747M	—	$667M	—	11.9%

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$158M
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$23M
General & Administrative	$951M
SG&A Expenses	$974M
Other Expenses	$740M
Operating Expenses	$1.7B
Cost & Expenses	$1.9B
OPERATING INCOME	$406M
Interest Income	$1.9B
Interest Expense	$245M
Other Income/Expenses	$0
INCOME BEFORE TAX	$406M
Income Tax Expense	$143M
Net Income from Continuing Ops	$263M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$264M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$291M
D&A	$131M
EBIT	$406M
EBITDA	$537M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$158M
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$23M
General & Administrative	$951M
SG&A Expenses	$974M
Other Expenses	$740M
Operating Expenses	$1.7B
Cost & Expenses	$1.9B
OPERATING INCOME	$406M
Interest Income	$1.9B
Interest Expense	$245M
Other Income/Expenses	$0
INCOME BEFORE TAX	$406M
Income Tax Expense	$143M
Net Income from Continuing Ops	$263M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$264M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$291M
D&A	$131M
EBIT	$406M
EBITDA	$537M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$263M
Depreciation & Amortization	$131M
Stock-Based Compensation	$28M
Deferred Income Tax	-$60M
Other Non-Cash Items	$179M
Change in Working Capital	$322M
OPERATING CASH FLOW	$835M
Capital Expenditure	-$89M
Acquisitions (Net)	$4M
Purchases of Investments	-$1.5B
Sales/Maturities of Investments	$1.5B
Other Investing Activities	-$1.3B
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	-$198M
Common Stock Repurchased	$0
Common Dividends Paid	-$120M
Other Financing Activities	$173M
NET CASH FROM FINANCING	-$150M
FREE CASH FLOW	$747M
Net Change in Cash	-$668M

Balance Sheet

Item	Amount
Cash & Equivalents	$9.4B
Short-Term Investments	$3.7B
Net Receivables	$388M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$13.4B
PP&E (Net)	$726M
Goodwill	$1.0B
Intangible Assets	$36M
Long-Term Investments	$39.5B
Tax Assets	$0
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$42.6B
TOTAL ASSETS	$56.0B
Account Payables	$0
Short-Term Debt	$340M
Deferred Revenue	$0
Other Current Liabilities	$46.4B
TOTAL CURRENT LIABILITIES	$46.7B
Long-Term Debt	$2.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$591M
TOTAL NON-CURRENT LIABILITIES	$2.9B
TOTAL LIABILITIES	$49.6B
Common Stock	$4.2B
Additional Paid-In Capital	$0
Retained Earnings	$1.5B
Treasury Stock	$0
Accum. Other Comp. Income	-$192M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.5B
Minority Interest	$0
TOTAL EQUITY	$6.5B
TOTAL LIABILITIES & EQUITY	$56.0B
Total Debt	$2.6B
Net Debt	-$6.7B