Consolidated Edison (ED) FY2012 results: revenue $12.2 billion, down 5.4% on the year
Consolidated Edison Inc. (ED) reported revenue of $12.2 billion for fiscal 2012, the year ended 31 December 2012, down 5.4% on the year before. Net income was $1.1 billion, up 7.4%, and diluted earnings per share $3.86. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2013.
Revenue
$12.2 billion
-5.4% on the year
FY2009FY2012
Operating margin
19.2%
17.4% a year earlier
FY2009FY2012
Net income
$1.1 billion
+7.4% on the year
FY2009FY2012
Diluted EPS
$3.86
+8.1% on the year
FY2009FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
12,188
12,886
13,325
-5.4%
Research and development
21.0
23.0
23.0
-8.7%
Operating income
2,339
2,239
2,120
+4.5%
Operating margin
19.2%
17.4%
15.9%
Interest expense
604
594
597
+1.7%
Pre-tax income
1,741
1,662
1,551
+4.8%
Income tax
600
600
548
0.0%
Effective tax rate
34.5%
36.1%
35.3%
Net income
1,141
1,062
1,003
+7.4%
Net margin
9.4%
8.2%
7.5%
Diluted EPS
$3.86
$3.57
$3.47
+8.1%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
2,599
3,137
2,381
-17.2%
Capital expenditure
152
80.0
28.0
+90.0%
Free cash flow
2,447
3,057
2,353
-20.0%
Free cash flow margin
20.1%
23.7%
17.7%
Cash from investing
-2,523
-2,150
-2,175
Cash from financing
-330
-677
-128
Depreciation and amortisation
955
884
840
+8.0%
Buybacks
9.0
-31.0
n/a
Dividends paid
709
693
629
+2.3%
Dividend per share
$2.42
$2.40
$2.38
+0.8%
Diluted shares, weighted
294m
294m
286m
+0.0%
Shares outstanding at period end
22m
22m
22m
0.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
11,869
11,649
11,274
+1.9%
Debt
11,307
10,673
10,676
+5.9%
Other liabilities
18,033
16,892
14,398
+6.8%
Total liabilities and equity
41,209
39,214
36,348
+5.1%
Fixed assets
26,939
25,093
23,863
+7.4%
Goodwill
429
429
429
0.0%
Intangible assets
2.0
3.0
3.0
-33.3%
Investments
467
455
403
+2.6%
Cash and equivalents
394
648
338
-39.2%
Receivables
1,222
1,123
1,173
+8.8%
Other assets
11,756
11,463
10,139
+2.6%
Total assets
41,209
39,214
36,348
+5.1%
10-K for the year ended 31 December 2012, filed 21 February 2013: the filing.