ZION FY 2016 Earnings Report — Zions Bancorporation, National Association Revenue & Financial Results | Market Cap Arena

Zions Bancorporation, National AssociationZION

FY 2016 Earnings

Reported February 27, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$2.5B	—	$2.2B	—	12.8%
Op. Income	$705M	—	$451M	—	56.3%
Gross Margin	92.7%	—	92.8%	—	-0.1pp
Net Margin	19.0%	—	14.1%	—	4.9pp
EPS (Diluted)	$1.99	—	$1.20	—	65.8%
Free Cash Flow	$400M	—	$307M	—	30.4%

Revenue Flow

Item	Amount
REVENUE	$2.5B
Cost of Revenue	$180M
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$22M
General & Administrative	$1.0B
SG&A Expenses	$1.0B
Other Expenses	$550M
Operating Expenses	$1.6B
Cost & Expenses	$1.8B
OPERATING INCOME	$705M
Interest Income	$2.0B
Interest Expense	$87M
Other Income/Expenses	$0
INCOME BEFORE TAX	$705M
Income Tax Expense	$236M
Net Income from Continuing Ops	$469M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$469M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$407M
D&A	$123M
EBIT	$705M
EBITDA	$828M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.5B
Cost of Revenue	$180M
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$22M
General & Administrative	$1.0B
SG&A Expenses	$1.0B
Other Expenses	$550M
Operating Expenses	$1.6B
Cost & Expenses	$1.8B
OPERATING INCOME	$705M
Interest Income	$2.0B
Interest Expense	$87M
Other Income/Expenses	$0
INCOME BEFORE TAX	$705M
Income Tax Expense	$236M
Net Income from Continuing Ops	$469M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$469M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$407M
D&A	$123M
EBIT	$705M
EBITDA	$828M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$469M
Depreciation & Amortization	$123M
Stock-Based Compensation	$26M
Deferred Income Tax	-$8M
Other Non-Cash Items	$61M
Change in Working Capital	-$75M
OPERATING CASH FLOW	$596M
Capital Expenditure	-$196M
Acquisitions (Net)	$0
Purchases of Investments	-$5.0B
Sales/Maturities of Investments	$3.9B
Other Investing Activities	-$2.1B
NET CASH FROM INVESTING	-$3.4B
Net Debt Issuance	$200M
Common Stock Repurchased	-$223M
Common Dividends Paid	-$108M
Other Financing Activities	$2.9B
NET CASH FROM FINANCING	$2.8B
FREE CASH FLOW	$400M
Net Change in Cash	-$61M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.1B
Short-Term Investments	$13.4B
Net Receivables	$423M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$15.9B
PP&E (Net)	$1.0B
Goodwill	$1.0B
Intangible Assets	$8M
Long-Term Investments	$43.1B
Tax Assets	$0
Other Non-Current Assets	$2.2B
TOTAL NON-CURRENT ASSETS	$47.3B
TOTAL ASSETS	$63.2B
Account Payables	$0
Short-Term Debt	$827M
Deferred Revenue	$0
Other Current Liabilities	$53.2B
TOTAL CURRENT LIABILITIES	$54.1B
Long-Term Debt	$534M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.0B
TOTAL NON-CURRENT LIABILITIES	$1.5B
TOTAL LIABILITIES	$55.6B
Common Stock	$4.7B
Additional Paid-In Capital	$0
Retained Earnings	$2.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$122M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.6B
Minority Interest	$0
TOTAL EQUITY	$7.6B
TOTAL LIABILITIES & EQUITY	$63.2B
Total Debt	$1.4B
Net Debt	-$786M