ZION FY 2017 Earnings Report — Zions Bancorporation, National Association Revenue & Financial Results | Market Cap Arena

Zions Bancorporation, National AssociationZION

FY 2017 Earnings

Reported February 28, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$2.7B	—	$2.5B	—	10.8%
Op. Income	$936M	—	$705M	—	32.8%
Gross Margin	94.7%	—	92.7%	—	2.0pp
Net Margin	21.6%	—	19.0%	—	2.6pp
EPS (Diluted)	$2.60	—	$1.99	—	30.7%
Free Cash Flow	$759M	—	$400M	—	89.6%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$144M
GROSS PROFIT	$2.6B
R&D Expenses	$0
Selling & Marketing	$22M
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$579M
Operating Expenses	$1.7B
Cost & Expenses	$1.8B
OPERATING INCOME	$936M
Interest Income	$2.2B
Interest Expense	$127M
Other Income/Expenses	$0
INCOME BEFORE TAX	$936M
Income Tax Expense	$344M
Net Income from Continuing Ops	$592M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$592M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$545M
D&A	$179M
EBIT	$936M
EBITDA	$1.1B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$144M
GROSS PROFIT	$2.6B
R&D Expenses	$0
Selling & Marketing	$22M
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$579M
Operating Expenses	$1.7B
Cost & Expenses	$1.8B
OPERATING INCOME	$936M
Interest Income	$2.2B
Interest Expense	$127M
Other Income/Expenses	$0
INCOME BEFORE TAX	$936M
Income Tax Expense	$344M
Net Income from Continuing Ops	$592M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$592M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$545M
D&A	$179M
EBIT	$936M
EBITDA	$1.1B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$592M
Depreciation & Amortization	$179M
Stock-Based Compensation	$25M
Deferred Income Tax	$154M
Other Non-Cash Items	-$26M
Change in Working Capital	$4M
OPERATING CASH FLOW	$928M
Capital Expenditure	-$169M
Acquisitions (Net)	$0
Purchases of Investments	-$5.0B
Sales/Maturities of Investments	$3.4B
Other Investing Activities	-$2.1B
NET CASH FROM INVESTING	-$3.9B
Net Debt Issuance	$4.0B
Common Stock Repurchased	-$465M
Common Dividends Paid	-$129M
Other Financing Activities	-$625M
NET CASH FROM FINANCING	$2.8B
FREE CASH FLOW	$759M
Net Change in Cash	-$189M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$15.2B
Net Receivables	$364M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$16.9B
PP&E (Net)	$1.1B
Goodwill	$1.0B
Intangible Assets	$2M
Long-Term Investments	$45.1B
Tax Assets	$0
Other Non-Current Assets	$2.2B
TOTAL NON-CURRENT ASSETS	$49.4B
TOTAL ASSETS	$66.3B
Account Payables	$0
Short-Term Debt	$5.0B
Deferred Revenue	$0
Other Current Liabilities	$52.6B
TOTAL CURRENT LIABILITIES	$57.6B
Long-Term Debt	$382M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$629M
TOTAL NON-CURRENT LIABILITIES	$1.0B
TOTAL LIABILITIES	$58.6B
Common Stock	$4.4B
Additional Paid-In Capital	$0
Retained Earnings	$2.8B
Treasury Stock	$0
Accum. Other Comp. Income	-$139M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.7B
Minority Interest	$0
TOTAL EQUITY	$7.7B
TOTAL LIABILITIES & EQUITY	$66.3B
Total Debt	$5.4B
Net Debt	$4.0B