ZION Q3 2016 Earnings Report — Zions Bancorporation, National Association Revenue & Financial Results | Market Cap Arena

Zions Bancorporation, National AssociationZION

Q3 2016 Earnings

Reported November 7, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2016	Q2 2016	Q3 2015	QoQ Change	YoY Change
Revenue	$636M	$613M	—	3.8%	—
Op. Income	$192M	$174M	—	10.3%	—
Gross Margin	93.6%	90.7%	—	2.9pp	—
Net Margin	20.0%	18.6%	—	1.4pp	—
EPS (Diluted)	$0.57	$0.44	—	29.5%	—
Free Cash Flow	$162M	-$56M	—	389.3%	—

Revenue Flow

Item	Amount
REVENUE	$636M
Cost of Revenue	$41M
GROSS PROFIT	$595M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$254M
SG&A Expenses	$260M
Other Expenses	$143M
Operating Expenses	$403M
Cost & Expenses	$444M
OPERATING INCOME	$192M
Interest Income	$491M
Interest Expense	$22M
Other Income/Expenses	$0
INCOME BEFORE TAX	$192M
Income Tax Expense	$65M
Net Income from Continuing Ops	$127M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$127M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$117M
D&A	$34M
EBIT	$192M
EBITDA	$226M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$636M
Cost of Revenue	$41M
GROSS PROFIT	$595M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$254M
SG&A Expenses	$260M
Other Expenses	$143M
Operating Expenses	$403M
Cost & Expenses	$444M
OPERATING INCOME	$192M
Interest Income	$491M
Interest Expense	$22M
Other Income/Expenses	$0
INCOME BEFORE TAX	$192M
Income Tax Expense	$65M
Net Income from Continuing Ops	$127M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$127M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$117M
D&A	$34M
EBIT	$192M
EBITDA	$226M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$127M
Depreciation & Amortization	$34M
Stock-Based Compensation	$6M
Deferred Income Tax	$2M
Other Non-Cash Items	-$3M
Change in Working Capital	$47M
OPERATING CASH FLOW	$213M
Capital Expenditure	-$51M
Acquisitions (Net)	$0
Purchases of Investments	-$2.1B
Sales/Maturities of Investments	$717M
Other Investing Activities	-$50M
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	$716M
Common Stock Repurchased	-$45M
Common Dividends Paid	-$31M
Other Financing Activities	$576M
NET CASH FROM FINANCING	$1.2B
FREE CASH FLOW	$162M
Net Change in Cash	-$7M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.0B
Short-Term Investments	$10.4B
Net Receivables	$439M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$12.8B
PP&E (Net)	$987M
Goodwill	$1.0B
Intangible Assets	$10M
Long-Term Investments	$43.3B
Tax Assets	$0
Other Non-Current Assets	$2.9B
TOTAL NON-CURRENT ASSETS	$48.2B
TOTAL ASSETS	$61.0B
Account Payables	$0
Short-Term Debt	$1.1B
Deferred Revenue	$0
Other Current Liabilities	$50.8B
TOTAL CURRENT LIABILITIES	$52.0B
Long-Term Debt	$570M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$825M
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$53.4B
Common Stock	$4.7B
Additional Paid-In Capital	$0
Retained Earnings	$2.2B
Treasury Stock	$0
Accum. Other Comp. Income	$10M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.7B
Minority Interest	$0
TOTAL EQUITY	$7.7B
TOTAL LIABILITIES & EQUITY	$61.0B
Total Debt	$1.7B
Net Debt	-$356M