Truist Financial (TFC) FY2011 results: revenue $8.6 billion, down 7.1% on the year
Truist Financial Corp. (TFC) reported revenue of $8.6 billion for fiscal 2011, the year ended 31 December 2011, down 7.1% on the year before. Net income was $1.3 billion, up 58.0%, and diluted earnings per share $1.83. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2013.
Revenue
$8.6 billion
-7.1% on the year
FY2007FY2011
Operating margin
n/a
FY2007FY2011
Net income
$1.3 billion
+58.0% on the year
FY2007FY2011
Diluted EPS
$1.83
+57.8% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
8,620
9,277
8,778
-7.1%
Interest expense
1,378
1,795
2,040
-23.2%
Pre-tax income
1,628
969
1,036
+68.0%
Income tax
296
115
159
+157.4%
Effective tax rate
18.2%
11.9%
15.3%
Net income
1,289
816
729
+58.0%
Net margin
15.0%
8.8%
8.3%
Diluted EPS
$1.83
$1.16
$1.15
+57.8%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
4,276
2,898
-493
+47.6%
Capital expenditure
224
428
174
-47.7%
Free cash flow
4,052
2,470
-667
+64.0%
Cash from investing
-18,007
5,979
7,233
Cash from financing
15,220
-9,141
-6,831
Share-based compensation
98.0
79.0
62.0
+24.1%
Buybacks
n/a
n/a
0.0
Dividends paid
446
415
727
+7.5%
Dividend per share
$0.65
$0.60
$0.92
+8.3%
Diluted shares, weighted
705m
701m
636m
+0.6%
Shares outstanding at period end
697m
694m
690m
+0.4%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
17,480
16,498
16,241
+6.0%
Deposits
124,939
107,213
114,965
+16.5%
Short-term borrowings
n/a
n/a
8,106
Debt
25,369
27,403
21,376
-7.4%
Other liabilities
6,791
5,967
5,076
+13.8%
Total liabilities and equity
174,579
157,081
165,764
+11.1%
Fixed assets
1,855
1,840
1,583
+0.8%
Goodwill
6,078
6,008
6,053
+1.2%
Intangible assets
444
508
640
-12.6%
Securities held for sale or to maturity
36,407
0.0
n/a
Loans
105,213
100,859
101,056
+4.3%
Resale agreements
136
327
398
-58.4%
Trading assets
534
633
636
-15.6%
Cash and equivalents
3,576
2,087
2,649
+71.3%
Other assets
20,336
44,819
52,749
-54.6%
Total assets
174,579
157,081
165,764
+11.1%
10-K for the year ended 31 December 2011, filed 1 March 2013: the filing.