American Electric Power (AEP) FY2014 results: revenue $16.4 billion, up 10.6% on the year
American Electric Power Co. Inc. (AEP) reported revenue of $16.4 billion for fiscal 2014, the year ended 31 December 2014, up 10.6% on the year before. Net income was $1.6 billion, up 10.4%, and diluted earnings per share $3.34. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$16.4 billion
+10.6% on the year
FY2007FY2014
Operating margin
19.1%
19.1% a year earlier
FY2007FY2014
Net income
$1.6 billion
+10.4% on the year
FY2007FY2014
Diluted EPS
$3.34
+9.9% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
16,379
14,814
14,945
+10.6%
Operating income
3,127
2,822
2,656
+10.8%
Operating margin
19.1%
19.1%
17.8%
Interest expense
868
890
988
-2.5%
Pre-tax income
2,493
2,152
1,866
+15.9%
Income tax
903
678
604
+33.2%
Effective tax rate
36.2%
31.5%
32.4%
Net income
1,634
1,480
1,259
+10.4%
Net margin
10.0%
10.0%
8.4%
Diluted EPS
$3.34
$3.04
$2.60
+9.9%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
4,602
4,096
3,804
+12.4%
Capital expenditure
64.8
32.0
94.0
+102.5%
Free cash flow
4,538
4,064
3,710
+11.6%
Free cash flow margin
27.7%
27.4%
24.8%
Cash from investing
-4,406
-3,818
-3,391
Cash from financing
-151
-439
-355
Depreciation and amortisation
1,579
1,455
1,539
+8.5%
Dividends paid
998
954
916
+4.6%
Dividend per share
$2.03
$1.95
$1.88
+4.1%
Diluted shares, weighted
489m
487m
485m
+0.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
16,820
16,085
15,237
+4.6%
Non-controlling interest
4.3
1.0
0.0
+330.0%
Short-term borrowings
1,346
757
981
+77.8%
Debt
18,512
18,377
17,757
+0.7%
Other liabilities
22,950
21,194
20,392
+8.3%
Total liabilities and equity
59,633
56,414
54,367
+5.7%
Fixed assets
43,635
40,997
38,763
+6.4%
Goodwill
91.3
91.0
91.0
+0.3%
Investments
386
353
324
+9.3%
Cash and equivalents
162
118
279
+38.3%
Receivables
1,835
1,860
1,871
-1.3%
Other assets
13,523
12,996
13,039
+4.1%
Total assets
59,633
56,414
54,367
+5.7%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.