2013 Q2 Form 10-Q Financial Statement

#000088734313000023 Filed on August 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2 2012 Q1
Revenue $82.27M $62.11M $69.71M
YoY Change 32.45% 16.52% 27.65%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $3.638M $2.551M $2.213M
YoY Change 42.61% 33.35% 15.02%
% of Gross Profit
Depreciation & Amortization $9.500M $14.40M $16.10M
YoY Change -34.03% -41.7% 323.68%
% of Gross Profit
Operating Expenses $3.638M $2.551M $2.213M
YoY Change 42.61% 33.35% 15.02%
Operating Profit
YoY Change
Interest Expense $2.279M $2.413M $2.649M
YoY Change -5.55% -38.66% -36.35%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $22.01M $16.27M $12.10M
YoY Change 35.28% 43.92% 49.27%
Income Tax $7.414M $4.367M $3.198M
% Of Pretax Income 33.69% 26.85% 26.43%
Net Earnings $14.59M $11.90M $8.902M
YoY Change 22.62% 37.85% 54.04%
Net Earnings / Revenue 17.74% 19.16% 12.77%
Basic Earnings Per Share $0.28 $0.30 $0.22
Diluted Earnings Per Share $0.28 $0.30 $0.22
COMMON SHARES
Basic Shares Outstanding 50.79M shares 39.26M shares 39.20M shares
Diluted Shares Outstanding 52.13M shares 39.31M shares 39.30M shares

Balance Sheet

Concept 2013 Q2 2012 Q2 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $192.7M $369.8M $391.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $158.8M $116.4M $113.1M
YoY Change 36.41% 17.58% 20.29%
Goodwill $344.0M $115.6M $115.6M
YoY Change 197.65% -2.43% 5.39%
Intangibles $29.17M $17.90M
YoY Change 63.0%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $7.070B $4.789B $4.815B
YoY Change 47.63% 8.14% 12.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $25.00M $25.00M $25.00M
YoY Change 0.0% 0.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $25.00M $25.00M $25.00M
YoY Change 0.0% 0.0% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $87.00M $62.00M $58.00M
YoY Change 40.32% 12.73% 20.83%
Total Long-Term Liabilities $87.00M $62.00M $58.00M
YoY Change 40.32% -23.46% -21.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.00M $25.00M $25.00M
Total Long-Term Liabilities $87.00M $62.00M $58.00M
Total Liabilities $6.040B $4.031B $4.063B
YoY Change 49.84% 8.91% 14.44%
SHAREHOLDERS EQUITY
Retained Earnings $180.1M $152.5M $149.3M
YoY Change 18.05%
Common Stock $857.6M $580.4M $579.9M
YoY Change 47.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.031B $758.7M $752.7M
YoY Change
Total Liabilities & Shareholders Equity $7.070B $4.789B $4.815B
YoY Change 47.63% 8.14% 12.93%

Cashflow Statement

Concept 2013 Q2 2012 Q2 2012 Q1
OPERATING ACTIVITIES
Net Income $14.59M $11.90M $8.902M
YoY Change 22.62% 37.85% 54.04%
Depreciation, Depletion And Amortization $9.500M $14.40M $16.10M
YoY Change -34.03% -41.7% 323.68%
Cash From Operating Activities $16.20M $39.00M $35.38M
YoY Change -58.46% 71.05% 79.97%
INVESTING ACTIVITIES
Capital Expenditures -$5.400M -$4.800M $6.682M
YoY Change 12.5% 2300.0% 171.52%
Acquisitions
YoY Change
Other Investing Activities -$73.00M -$10.90M $37.20M
YoY Change 569.72% -85.75% -163.27%
Cash From Investing Activities -$78.30M -$15.80M $30.39M
YoY Change 395.57% -79.4% -149.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -193.1M -44.90M $31.39M
YoY Change 330.07% -70.67% 671.09%
NET CHANGE
Cash From Operating Activities 16.20M 39.00M $35.38M
Cash From Investing Activities -78.30M -15.80M $30.39M
Cash From Financing Activities -193.1M -44.90M $31.39M
Net Change In Cash -255.2M -21.70M $97.17M
YoY Change 1076.04% -89.52% -357.04%
FREE CASH FLOW
Cash From Operating Activities $16.20M $39.00M $35.38M
Capital Expenditures -$5.400M -$4.800M $6.682M
Free Cash Flow $21.60M $43.80M $28.70M
YoY Change -50.68% 90.43% 66.88%

Facts In Submission

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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Accounting Pronouncements Recently Issued</font></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In July 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2013-11, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. </font><font style="font-family:inherit;font-size:10pt;">The Update clarifies when it is appropriate for an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. ASU 2013-11 is effective for interim and annual periods beginning after December 15, 2013. Early adoption is permitted. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date, however, retrospective application is also permitted. Adoption of the new guidance is not expected to have a significant impact on the Company's consolidated financial statements.</font></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2013, the FASB issued ASU No. 2013-02, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income</font><font style="font-family:inherit;font-size:10pt;">. The Update requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component and to present either on the face of the statement where net income is presented, or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount reclassified is required to be reclassified to net income in its entirety in the same reporting period. The amendments are effective for annual and interim reporting periods beginning on or after December 15, 2012. The Company adopted the ASU 2013-02 reporting requirements during the interim reporting period beginning on January 1, 2013 with no impact to the Company's financial condition or results of operations. See Note 12 to the Consolidated Financial Statements of this report for new disclosures related to accumulated other comprehensive income.</font></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In October 2012, the FASB issued ASU 2012-06, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Subsequent Accounting for an Indemnification Asset Recognized at the Acquisition Date as a Result of a Government-Assisted Acquisition of a Financial Institution. </font><font style="font-family:inherit;font-size:10pt;">ASU 2012-06 clarifies that when a reporting entity recognizes an indemnification asset as a result of a government-assisted acquisition of a financial institution and there is a subsequent change in the amount of cash flows expected to be collected on the indemnified asset, the reporting entity should subsequently measure the indemnification asset on the same basis as the underlying loans by taking into account the contractual limitations of the Loss-Sharing Agreement ("LSA"). For amortization of changes in value, the reporting entity should use the term of the indemnification agreement if it is shorter than the term of the acquired loans. ASU 2012-06 is effective for interim and annual periods beginning after December 15, 2012. The Company adopted the ASU as of January 1, 2013. As a result of the adoption of the ASU, an additional $5.7 million of indemnification asset amortization was recorded during the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">six</font><font style="font-family:inherit;font-size:10pt;"> months ending </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">June&#160;30, 2013</font><font style="font-family:inherit;font-size:10pt;">, resulting in a reduction of $3.7 million in net income and $0.08 in earnings per share.</font></div></div>
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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dei Amendment Flag
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dei Entity Central Index Key
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CY2013Q3 dei Entity Common Stock Shares Outstanding
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dei Entity Filer Category
EntityFilerCategory
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dei Entity Registrant Name
EntityRegistrantName
COLUMBIA BANKING SYSTEM INC
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Document Type
DocumentType
10-Q

Files In Submission

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0000887343-13-000023.txt Edgar Link pending
0000887343-13-000023-xbrl.zip Edgar Link pending
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colb06302013ex311.htm Edgar Link pending
colb06302013ex312.htm Edgar Link pending
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