American Electric Power (AEP) FY2013 results: revenue $14.8 billion, down 0.9% on the year
American Electric Power Co. Inc. (AEP) reported revenue of $14.8 billion for fiscal 2013, the year ended 31 December 2013, down 0.9% on the year before. Net income was $1.5 billion, up 17.6%, and diluted earnings per share $3.04. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2014.
Revenue
$14.8 billion
-0.9% on the year
FY2007FY2013
Operating margin
19.1%
17.8% a year earlier
FY2007FY2013
Net income
$1.5 billion
+17.6% on the year
FY2007FY2013
Diluted EPS
$3.04
+16.9% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
14,814
14,945
15,116
-0.9%
Operating income
2,822
2,656
2,782
+6.3%
Operating margin
19.1%
17.8%
18.4%
Interest expense
890
988
933
-9.9%
Pre-tax income
2,152
1,866
2,394
+15.3%
Income tax
678
604
818
+12.2%
Effective tax rate
31.5%
32.4%
34.2%
Net income
1,480
1,259
1,946
+17.6%
Net margin
10.0%
8.4%
12.9%
Diluted EPS
$3.04
$2.60
$4.02
+16.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
4,096
3,804
3,788
+7.7%
Capital expenditure
32.0
94.0
19.0
-66.0%
Free cash flow
4,064
3,710
3,769
+9.5%
Free cash flow margin
27.4%
24.8%
24.9%
Cash from investing
-3,818
-3,391
-2,890
Cash from financing
-439
-355
-971
Depreciation and amortisation
1,455
1,539
n/a
-5.4%
Dividends paid
954
916
898
+4.1%
Dividend per share
$1.95
$1.88
$1.85
+3.7%
Diluted shares, weighted
487m
485m
482m
+0.4%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
16,085
15,237
14,664
+5.6%
Non-controlling interest
1.0
0.0
1.0
Redeemable equity
n/a
n/a
60.0
Short-term borrowings
757
981
1,650
-22.8%
Debt
18,377
17,757
16,516
+3.5%
Other liabilities
21,194
20,392
19,332
+3.9%
Total liabilities and equity
56,414
54,367
52,223
+3.8%
Fixed assets
40,997
38,763
36,971
+5.8%
Goodwill
91.0
91.0
76.0
0.0%
Investments
353
324
294
+9.0%
Cash and equivalents
118
279
221
-57.9%
Receivables
1,860
1,871
1,834
-0.6%
Other assets
12,996
13,039
12,827
-0.3%
Total assets
56,414
54,367
52,223
+3.8%
10-K for the year ended 31 December 2013, filed 25 February 2014: the filing.