Regions Financial (RF) FY2013 results: revenue $5.4 billion, down 0.8% on the year
Regions Financial Corp. (RF) reported revenue of $5.4 billion for fiscal 2013, the year ended 31 December 2013, down 0.8% on the year before. Net income was $1.1 billion, down 2.6%, and diluted earnings per share $0.75. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$5.4 billion
-0.8% on the year
FY2007FY2013
Operating margin
n/a
FY2007FY2013
Net income
$1.1 billion
-2.6% on the year
FY2007FY2013
Diluted EPS
$0.75
+5.6% on the year
FY2007FY2013
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
5,359
5,400
5,553
-0.8%
Interest expense
384
603
842
-36.3%
Pre-tax income
1,665
1,661
161
+0.2%
Income tax
561
482
-28.0
+16.4%
Effective tax rate
33.7%
29.0%
-17.4%
Net income
1,091
1,120
-215
-2.6%
Net margin
20.4%
20.7%
-3.9%
Diluted EPS
$0.75
$0.71
-$0.34
+5.6%
$ 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
3,745
2,441
4,753
+53.4%
Capital expenditure
186
180
201
+3.3%
Free cash flow
3,559
2,261
4,552
+57.4%
Cash from investing
-71.0
1,007
659
Cash from financing
-3,890
-5,204
-5,086
Depreciation and amortisation
645
717
683
-10.0%
Share-based compensation
25.0
21.0
14.0
+19.0%
Buybacks
340
0.0
0.0
Dividends paid
138
54.0
51.0
+155.6%
Dividend per share
$0.10
$0.04
$0.04
+150.0%
Diluted shares, weighted
1,410m
1,387m
1,258m
+1.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
15,660
15,422
16,499
+1.5%
Deposits
92,453
95,474
95,627
-3.2%
Repurchase agreements
2,182
1,449
2,333
+50.6%
Debt
7,012
7,435
11,177
-5.7%
Other liabilities
89.0
1,567
1,414
-94.3%
Total liabilities and equity
117,396
121,347
127,050
-3.3%
Fixed assets
2,216
2,279
2,375
-2.8%
Goodwill
4,816
4,816
4,816
0.0%
Intangible assets
295
345
449
-14.5%
Securities held for sale or to maturity
2,353
10.0
16.0
+23,430.0%
Loans
73,268
72,076
74,849
+1.7%
Resale agreements
0.0
n/a
200
Trading assets
111
116
1,266
-4.3%
Cash and equivalents
5,273
5,489
7,245
-3.9%
Other assets
29,064
36,216
35,834
-19.7%
Total assets
117,396
121,347
127,050
-3.3%
10-K for the year ended 31 December 2013, filed 21 February 2014: the filing.