Northern Trust (NTRS) FY2014 results: revenue $4.3 billion, up 5.9% on the year
Northern Trust Corp. (NTRS) reported revenue of $4.3 billion for fiscal 2014, the year ended 31 December 2014, up 5.9% on the year before. Net income was $812 million, up 11.0%, and diluted earnings per share $3.32. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$4.3 billion
+5.9% on the year
FY2007FY2014
Operating margin
n/a
FY2007FY2014
Net income
$812 million
+11.0% on the year
FY2007FY2014
Diluted EPS
$3.32
+11.0% 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
4,331
4,089
3,896
+5.9%
Interest expense
181
222
297
-18.4%
Pre-tax income
1,190
1,076
992
+10.7%
Income tax
378
344
305
+9.9%
Effective tax rate
31.8%
32.0%
30.7%
Net income
812
731
687
+11.0%
Net margin
18.7%
17.9%
17.6%
Diluted EPS
$3.32
$2.99
$2.81
+11.0%
$ 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
936
839
814
+11.5%
Capital expenditure
81.9
91.9
73.3
-10.9%
Free cash flow
854
747
741
+14.3%
Cash from investing
-8,235
-5,683
1,628
Cash from financing
7,074
4,388
-3,073
+61.2%
Share-based compensation
77.7
73.8
73.9
+5.3%
Buybacks
481
310
162
+55.2%
Dividends paid
303
221
354
+37.3%
Diluted shares, weighted
238m
241m
241m
-1.2%
Shares outstanding at period end
233m
237m
239m
-1.7%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
8,449
7,912
7,527
+6.8%
Deposits
90,757
84,098
81,408
+7.9%
Debt
6,892
7,424
5,952
-7.2%
Other liabilities
3,848
3,513
2,577
+9.5%
Total liabilities and equity
109,946
102,947
97,464
+6.8%
Fixed assets
444
459
470
-3.2%
Goodwill
533
541
538
-1.4%
Intangible assets
60.0
83.0
104
-27.7%
Securities held for sale or to maturity
33,729
30,719
31,026
+9.8%
Loans
31,373
29,107
29,207
+7.8%
Resale agreements
1,063
530
60.8
+100.7%
Trading assets
4.7
1.7
8.0
+176.5%
Other assets
42,739
41,508
36,051
+3.0%
Total assets
109,946
102,947
97,464
+6.8%
10-K for the year ended 31 December 2014, filed 26 February 2015: the filing.