Lumen Technologies (LUMN) FY2014 results: revenue $18.0 billion, down 0.4% on the year
Lumen Technologies, Inc. (LUMN) reported revenue of $18.0 billion for fiscal 2014, the year ended 31 December 2014, down 0.4% on the year before. Net income was $772 million, and diluted earnings per share $1.36. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2015.
Revenue
$18.0 billion
-0.4% on the year
FY2008FY2014
Operating margin
13.4%
8.0% a year earlier
FY2008FY2014
Net income
$772 million
FY2008FY2014
Diluted EPS
$1.36
FY2008FY2014
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
18,031
18,095
18,376
-0.4%
Cost of revenue
7,846
7,507
7,639
+4.5%
Gross profit
10,185
10,588
10,737
-3.8%
Gross margin
56.5%
58.5%
58.4%
Selling, general and administrative
3,347
3,502
3,244
-4.4%
Operating income
2,410
1,453
2,713
+65.9%
Operating margin
13.4%
8.0%
14.8%
Interest expense
1,311
1,298
1,319
+1.0%
Pre-tax income
1,110
224
1,250
+395.5%
Income tax
338
463
473
-27.0%
Effective tax rate
30.5%
206.7%
37.8%
Net income
772
-239
777
Net margin
4.3%
-1.3%
4.2%
Diluted EPS
$1.36
-$0.40
$1.25
$ 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
5,188
5,559
6,065
-6.7%
Capital expenditure
3,047
3,048
2,919
-0.0%
Free cash flow
2,141
2,511
3,146
-14.7%
Free cash flow margin
11.9%
13.9%
17.1%
Depreciation and amortisation
4,428
4,541
4,780
-2.5%
Share-based compensation
79.0
71.0
110
+11.3%
Buybacks
650
1,586
37.0
-59.0%
Dividends paid
1,228
1,301
1,811
-5.6%
Diluted shares, weighted
570m
601m
622m
-5.2%
Shares outstanding at period end
569m
584m
626m
-2.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
15,023
17,191
19,289
-12.6%
Debt
20,503
20,966
20,605
-2.2%
Other liabilities
13,577
13,630
14,126
-0.4%
Total liabilities and equity
49,103
51,787
54,020
-5.2%
Fixed assets
18,433
18,646
18,909
-1.1%
Goodwill
20,755
20,674
21,627
+0.4%
Cash and equivalents
128
168
211
-23.8%
Receivables
1,988
1,977
1,917
+0.6%
Other assets
7,799
10,322
11,356
-24.4%
Total assets
49,103
51,787
54,020
-5.2%
10-K for the year ended 31 December 2014, filed 24 February 2015: the filing.