ZION FY 2014 Earnings Report — Zions Bancorporation, National Association Revenue & Financial Results | Market Cap Arena

Zions Bancorporation, National AssociationZION

FY 2014 Earnings

Reported February 27, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$2.3B	—	$2.3B	—	2.9%
Op. Income	$621M	—	$406M	—	52.9%
Gross Margin	96.8%	—	93.1%	—	3.7pp
Net Margin	17.0%	—	11.6%	—	5.4pp
EPS (Diluted)	$1.71	—	$1.58	—	8.2%
Free Cash Flow	$205M	—	$747M	—	-72.6%

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$75M
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$25M
General & Administrative	$989M
SG&A Expenses	$1.0B
Other Expenses	$636M
Operating Expenses	$1.6B
Cost & Expenses	$1.7B
OPERATING INCOME	$621M
Interest Income	$1.9B
Interest Expense	$173M
Other Income/Expenses	$0
INCOME BEFORE TAX	$621M
Income Tax Expense	$223M
Net Income from Continuing Ops	$398M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$398M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$323M
D&A	$58M
EBIT	$621M
EBITDA	$679M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$75M
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$25M
General & Administrative	$989M
SG&A Expenses	$1.0B
Other Expenses	$636M
Operating Expenses	$1.6B
Cost & Expenses	$1.7B
OPERATING INCOME	$621M
Interest Income	$1.9B
Interest Expense	$173M
Other Income/Expenses	$0
INCOME BEFORE TAX	$621M
Income Tax Expense	$223M
Net Income from Continuing Ops	$398M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$398M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$323M
D&A	$58M
EBIT	$621M
EBITDA	$679M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$398M
Depreciation & Amortization	$58M
Stock-Based Compensation	$0
Deferred Income Tax	$26M
Other Non-Cash Items	-$96M
Change in Working Capital	-$6M
OPERATING CASH FLOW	$380M
Capital Expenditure	-$176M
Acquisitions (Net)	$0
Purchases of Investments	-$2.1B
Sales/Maturities of Investments	$1.9B
Other Investing Activities	-$916M
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	-$1.3B
Common Stock Repurchased	-$6M
Common Dividends Paid	-$96M
Other Financing Activities	$1.4B
NET CASH FROM FINANCING	$557M
FREE CASH FLOW	$205M
Net Change in Cash	-$331M

Balance Sheet

Item	Amount
Cash & Equivalents	$8.0B
Short-Term Investments	$3.8B
Net Receivables	$409M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$12.3B
PP&E (Net)	$830M
Goodwill	$1.0B
Intangible Assets	$26M
Long-Term Investments	$40.7B
Tax Assets	$0
Other Non-Current Assets	$2.4B
TOTAL NON-CURRENT ASSETS	$44.9B
TOTAL ASSETS	$57.2B
Account Payables	$0
Short-Term Debt	$244M
Deferred Revenue	$0
Other Current Liabilities	$47.8B
TOTAL CURRENT LIABILITIES	$48.1B
Long-Term Debt	$1.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$655M
TOTAL NON-CURRENT LIABILITIES	$1.7B
TOTAL LIABILITIES	$49.8B
Common Stock	$4.7B
Additional Paid-In Capital	$0
Retained Earnings	$1.8B
Treasury Stock	$0
Accum. Other Comp. Income	-$128M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.4B
Minority Interest	$0
TOTAL EQUITY	$7.4B
TOTAL LIABILITIES & EQUITY	$57.2B
Total Debt	$1.3B
Net Debt	-$6.7B