Truist Financial (TFC) FY2013 results: revenue $9.7 billion, down 0.3% on the year
Truist Financial Corp. (TFC) reported revenue of $9.7 billion for fiscal 2013, the year ended 31 December 2013, down 0.3% on the year before. Net income was $1.6 billion, down 18.5%, and diluted earnings per share $2.19. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2014.
Revenue
$9.7 billion
-0.3% on the year
FY2007FY2013
Operating margin
n/a
FY2007FY2013
Net income
$1.6 billion
-18.5% on the year
FY2007FY2013
Diluted EPS
$2.19
-18.9% 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
9,652
9,677
8,620
-0.3%
Interest expense
891
1,060
1,378
-15.9%
Pre-tax income
3,283
2,792
1,628
+17.6%
Income tax
1,553
764
296
+103.3%
Effective tax rate
47.3%
27.4%
18.2%
Net income
1,562
1,916
1,289
-18.5%
Net margin
16.2%
19.8%
15.0%
Diluted EPS
$2.19
$2.70
$1.83
-18.9%
$ 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
5,308
3,714
4,276
+42.9%
Capital expenditure
n/a
145
224
Free cash flow
n/a
3,569
4,052
Cash from investing
-4,209
-7,047
-18,007
Cash from financing
-1,973
2,796
15,220
Share-based compensation
96.0
97.0
98.0
-1.0%
Dividends paid
765
531
446
+44.1%
Dividend per share
$0.92
$0.80
$0.65
+15.0%
Diluted shares, weighted
714m
709m
705m
+0.8%
Shares outstanding at period end
707m
700m
697m
+1.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
22,809
21,223
17,480
+7.5%
Deposits
127,475
133,075
124,939
-4.2%
Debt
25,631
21,978
25,369
+16.6%
Other liabilities
7,095
8,223
6,791
-13.7%
Total liabilities and equity
183,010
184,499
174,579
-0.8%
Fixed assets
1,869
1,888
1,855
-1.0%
Goodwill
6,814
6,804
6,078
+0.1%
Intangible assets
569
673
444
-15.5%
Securities held for sale or to maturity
18,101
13,594
36,407
+33.2%
Loans
114,185
112,585
105,213
+1.4%
Resale agreements
148
122
136
+21.3%
Trading assets
381
497
534
-23.3%
Cash and equivalents
2,165
3,039
3,576
-28.8%
Other assets
38,778
45,297
20,336
-14.4%
Total assets
183,010
184,499
174,579
-0.8%
10-K for the year ended 31 December 2013, filed 26 February 2014: the filing.