Bank of New York Mellon (BNY) FY2014 results: revenue $15.5 billion, up 3.7% on the year
Bank of New York Mellon Corp. (BNY) reported revenue of $15.5 billion for fiscal 2014, the year ended 31 December 2014, up 3.7% on the year before. Net income was $2.6 billion, up 22.0%, and diluted earnings per share $2.15. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$15.5 billion
+3.7% on the year
FY2007FY2014
Operating margin
n/a
FY2007FY2014
Net income
$2.6 billion
+22.0% on the year
FY2007FY2014
Diluted EPS
$2.15
+24.3% 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
15,529
14,968
14,534
+3.7%
Interest expense
354
343
534
+3.2%
Pre-tax income
3,479
3,697
3,281
-5.9%
Income tax
912
1,592
842
-42.7%
Effective tax rate
26.2%
43.1%
25.7%
Net income
2,567
2,104
2,437
+22.0%
Net margin
16.5%
14.1%
16.8%
Diluted EPS
$2.15
$1.73
$2.03
+24.3%
$ 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
4,484
-642
1,629
Capital expenditure
791
609
652
+29.9%
Free cash flow
3,693
-1,251
977
Cash from investing
-11,675
-13,200
-29,387
Cash from financing
7,829
15,621
28,288
-49.9%
Depreciation and amortisation
1,292
1,389
1,246
-7.0%
Buybacks
1,669
1,026
1,148
+62.7%
Dividends paid
760
680
623
+11.8%
Dividend per share
$0.66
$0.58
$0.52
+13.8%
Diluted shares, weighted
1,137m
1,154m
1,178m
-1.5%
Shares outstanding at period end
1,118m
1,142m
1,163m
-2.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
37,441
37,521
36,431
-0.2%
Non-controlling interest
1,033
783
833
+31.9%
Redeemable equity
229
230
n/a
-0.4%
Debt
20,264
19,864
18,530
+2.0%
Other liabilities
326,336
315,912
303,196
+3.3%
Total liabilities and equity
385,303
374,310
358,990
+2.9%
Goodwill
17,869
18,073
18,075
-1.1%
Intangible assets
4,127
4,452
4,809
-7.3%
Securities held for sale or to maturity
119,263
99,052
92,619
+20.4%
Securities borrowed
300
114
n/a
+163.2%
Cash and equivalents
6,970
6,460
4,727
+7.9%
Other assets
236,774
246,159
238,760
-3.8%
Total assets
385,303
374,310
358,990
+2.9%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.