Macerich (MAC) FY2012 results: revenue $798 million, up 16.5% on the year
Macerich Co. (MAC) reported revenue of $798 million for fiscal 2012, the year ended 31 December 2012, up 16.5% on the year before. Net income was $337 million, up 115.1%, and diluted earnings per share $2.51. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2013.
Revenue
$798 million
+16.5% on the year
FY2008FY2012
Operating margin
-0.3%
-4.9% a year earlier
FY2008FY2012
Net income
$337 million
+115.1% on the year
FY2008FY2012
Diluted EPS
$2.51
+112.7% on the year
FY2008FY2012
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
798
685
712
+16.5%
Operating income
-2.4
-33.5
-44.3
Operating margin
-0.3%
-4.9%
-6.2%
Interest expense
164
167
198
-1.7%
Income tax
-4.2
-6.1
-9.2
Net income
337
157
25.2
+115.1%
Net margin
42.3%
22.9%
3.5%
Diluted EPS
$2.51
$1.18
$0.19
+112.7%
$ 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
351
237
200
+48.0%
Capital expenditure
45.7
63.0
48.0
-27.5%
Free cash flow
306
174
152
+75.3%
Free cash flow margin
38.3%
25.5%
21.4%
Cash from investing
-963
-212
-142
Cash from financing
611
-404
294
Depreciation and amortisation
323
283
260
+14.2%
Share-based compensation
12.3
12.3
14.8
+0.3%
Dividends paid
326
297
226
+9.8%
Dividend per share
$2.23
$2.05
$2.10
+8.8%
Diluted shares, weighted
134m
132m
120m
+1.9%
Shares outstanding at period end
138m
132m
130m
+4.1%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
3,078
2,813
2,890
+9.4%
Non-controlling interest
339
351
298
-3.6%
Redeemable equity
n/a
n/a
11.4
Debt
5,261
4,206
3,892
+25.1%
Other liabilities
634
568
554
+11.6%
Total liabilities and equity
9,311
7,939
7,645
+17.3%
Intangible assets
159
n/a
n/a
Securities held for sale or to maturity
n/a
n/a
25.9
Cash and equivalents
65.8
67.2
446
-2.2%
Other assets
9,086
7,871
7,173
+15.4%
Total assets
9,311
7,939
7,645
+17.3%
10-K for the year ended 31 December 2012, filed 22 February 2013: the filing.