Consolidated Edison (ED) FY2013 results: revenue $12.4 billion, up 1.4% on the year
Consolidated Edison Inc. (ED) reported revenue of $12.4 billion for fiscal 2013, the year ended 31 December 2013, up 1.4% on the year before. Net income was $1.1 billion, down 6.9%, and diluted earnings per share $3.61. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$12.4 billion
+1.4% on the year
FY2009FY2013
Operating margin
18.2%
19.2% a year earlier
FY2009FY2013
Net income
$1.1 billion
-6.9% on the year
FY2009FY2013
Diluted EPS
$3.61
-6.5% on the year
FY2009FY2013
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
12,354
12,188
12,886
+1.4%
Research and development
18.0
21.0
23.0
-14.3%
Operating income
2,244
2,339
2,239
-4.1%
Operating margin
18.2%
19.2%
17.4%
Interest expense
719
604
594
+19.0%
Pre-tax income
1,538
1,741
1,662
-11.7%
Income tax
476
600
600
-20.7%
Effective tax rate
30.9%
34.5%
36.1%
Net income
1,062
1,141
1,062
-6.9%
Net margin
8.6%
9.4%
8.2%
Diluted EPS
$3.61
$3.86
$3.57
-6.5%
$ 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
2,552
2,599
3,137
-1.8%
Capital expenditure
199
152
80.0
+30.9%
Free cash flow
2,353
2,447
3,057
-3.8%
Free cash flow margin
19.0%
20.1%
23.7%
Cash from investing
-2,659
-2,523
-2,150
Cash from financing
387
-330
-677
Depreciation and amortisation
1,024
955
884
+7.2%
Buybacks
8.0
9.0
-31.0
-11.1%
Dividends paid
721
709
693
+1.7%
Dividend per share
$2.46
$2.42
$2.40
+1.7%
Diluted shares, weighted
294m
294m
294m
-0.0%
Shares outstanding at period end
22m
22m
22m
0.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
12,245
11,869
11,649
+3.2%
Debt
12,425
11,307
10,673
+9.9%
Other liabilities
15,781
18,033
16,892
-12.5%
Total liabilities and equity
40,451
41,209
39,214
-1.8%
Fixed assets
28,436
26,939
25,093
+5.6%
Goodwill
429
429
429
0.0%
Intangible assets
4.0
2.0
3.0
+100.0%
Investments
461
467
455
-1.3%
Cash and equivalents
674
394
648
+71.1%
Receivables
1,251
1,222
1,123
+2.4%
Other assets
9,196
11,756
11,463
-21.8%
Total assets
40,451
41,209
39,214
-1.8%
10-K for the year ended 31 December 2013, filed 21 February 2014: the filing.