Bank of New York Mellon (BNY) FY2013 results: revenue $15.0 billion, up 3.0% on the year
Bank of New York Mellon Corp. (BNY) reported revenue of $15.0 billion for fiscal 2013, the year ended 31 December 2013, up 3.0% on the year before. Net income was $2.1 billion, down 13.7%, and diluted earnings per share $1.73. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$15.0 billion
+3.0% on the year
FY2007FY2013
Operating margin
n/a
FY2007FY2013
Net income
$2.1 billion
-13.7% on the year
FY2007FY2013
Diluted EPS
$1.73
-14.8% 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
14,968
14,534
14,680
+3.0%
Interest expense
343
534
604
-35.8%
Pre-tax income
3,697
3,281
3,567
+12.7%
Income tax
1,592
842
1,048
+89.1%
Effective tax rate
43.1%
25.7%
29.4%
Net income
2,104
2,437
2,516
-13.7%
Net margin
14.1%
16.8%
17.1%
Diluted EPS
$1.73
$2.03
$2.03
-14.8%
$ 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
-642
1,629
2,211
Capital expenditure
609
652
642
-6.6%
Free cash flow
-1,251
977
1,569
Cash from investing
-13,200
-29,387
-80,178
Cash from financing
15,621
28,288
78,765
-44.8%
Depreciation and amortisation
1,389
1,246
776
+11.5%
Buybacks
1,026
1,148
873
-10.6%
Dividends paid
680
623
593
+9.1%
Dividend per share
$0.58
$0.52
$0.48
+11.5%
Diluted shares, weighted
1,154m
1,178m
1,223m
-2.0%
Shares outstanding at period end
1,142m
1,163m
1,210m
-1.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
37,521
36,431
33,417
+3.0%
Non-controlling interest
783
833
670
-6.0%
Redeemable equity
230
n/a
n/a
Debt
19,864
18,530
19,933
+7.2%
Other liabilities
315,912
303,196
271,246
+4.2%
Total liabilities and equity
374,310
358,990
325,266
+4.3%
Goodwill
18,073
18,075
17,904
-0.0%
Intangible assets
4,452
4,809
5,152
-7.4%
Securities held for sale or to maturity
99,052
92,619
78,467
+6.9%
Securities borrowed
114
n/a
n/a
Cash and equivalents
6,460
4,727
4,175
+36.7%
Other assets
246,159
238,760
219,568
+3.1%
Total assets
374,310
358,990
325,266
+4.3%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.