2013 Q4 Form 10-K Financial Statement

#000119312515055256 Filed on February 20, 2015

View on sec.gov

Income Statement

Concept 2013 Q4 2013 2012
Revenue $176.4M $159.8M
YoY Change 10.37% -0.14%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.200M $7.196M $6.492M
YoY Change 10.0% 10.84% 10.5%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $4.088M $5.112M
YoY Change -20.03% -36.29%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $28.20M $104.6M $99.36M
YoY Change 15.57% 5.24% 7.78%
Income Tax $7.000M $25.70M $25.14M
% Of Pretax Income 24.82% 24.58% 25.3%
Net Earnings $21.20M $78.87M $74.23M
YoY Change 15.85% 6.26% 8.57%
Net Earnings / Revenue 44.72% 46.45%
Basic Earnings Per Share $1.24 $1.18
Diluted Earnings Per Share $164.9K $1.24 $1.18
COMMON SHARES
Basic Shares Outstanding 31.98M shares 63.58M shares 62.96M shares
Diluted Shares Outstanding 63.86M shares 63.00M shares

Balance Sheet

Concept 2013 Q4 2013 2012
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
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 $95.51M $96.00M $84.00M
YoY Change 13.53% 14.29% 10.53%
Goodwill
YoY Change
Intangibles
YoY Change
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 $5.222B $5.222B $4.502B
YoY Change 16.0% 15.99% 9.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $463.9M $464.0M $260.0M
YoY Change 78.63% 78.46% 25.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.000M $8.000M $260.0M
YoY Change -96.92% -96.92% 3150.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $27.00M $27.00M $53.00M
YoY Change -49.06% -49.06% -14.52%
Total Long-Term Liabilities $27.00M $27.00M $53.00M
YoY Change -49.06% -49.06% -14.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.000M $8.000M $260.0M
Total Long-Term Liabilities $27.00M $27.00M $53.00M
Total Liabilities $4.635B $4.635B $3.945B
YoY Change 17.48% 17.49% 9.22%
SHAREHOLDERS EQUITY
Retained Earnings $274.0M
YoY Change 20.2%
Common Stock $303.3M
YoY Change 9.21%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.490M
YoY Change 9.65%
Treasury Stock Shares 269.5K shares
Shareholders Equity $587.6M $588.0M $557.0M
YoY Change
Total Liabilities & Shareholders Equity $5.222B $5.222B $4.502B
YoY Change 16.0% 15.99% 9.25%

Cashflow Statement

Concept 2013 Q4 2013 2012
OPERATING ACTIVITIES
Net Income $21.20M $78.87M $74.23M
YoY Change 15.85% 6.26% 8.57%
Depreciation, Depletion And Amortization $2.200M $7.196M $6.492M
YoY Change 10.0% 10.84% 10.5%
Cash From Operating Activities $15.60M $109.9M $93.06M
YoY Change 4.7% 18.05% -2.15%
INVESTING ACTIVITIES
Capital Expenditures -$2.800M -$11.30M -$16.20M
YoY Change -47.17% -30.25% 9.46%
Acquisitions $25.71M
YoY Change
Other Investing Activities -$152.3M -$545.4M -$278.8M
YoY Change 3441.86% 95.62% -11.86%
Cash From Investing Activities -$155.2M -$556.8M -$295.0M
YoY Change 1516.67% 88.74% -10.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.958M $824.0K
YoY Change 137.62% -13.26%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 124.0M 298.2M 311.8M
YoY Change -30.26% -4.38% 40.16%
NET CHANGE
Cash From Operating Activities 15.60M 109.9M 93.06M
Cash From Investing Activities -155.2M -556.8M -295.0M
Cash From Financing Activities 124.0M 298.2M 311.8M
Net Change In Cash -15.60M -148.7M 109.9M
YoY Change -108.52% -235.33% -918.28%
FREE CASH FLOW
Cash From Operating Activities $15.60M $109.9M $93.06M
Capital Expenditures -$2.800M -$11.30M -$16.20M
Free Cash Flow $18.40M $121.2M $109.3M
YoY Change -8.91% 10.89% -0.59%

Facts In Submission

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FIRST FINANCIAL BANKSHARES INC
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0.003 pure
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93062000
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0.0375 pure
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0.00
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0.0625 pure
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62960310 shares
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.001 pure
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StockRepurchasedDuringPeriodShares
0 shares
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0.097 pure
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154684000
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InterestIncomeExpenseAfterProvisionForLoanLoss
151200000
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3349000
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ComprehensiveIncomeNetOfTax
78309000
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AvailableForSaleSecuritiesGrossRealizedGains
2816000
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16693000
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PaymentsToAcquireAvailableForSaleSecurities
2049275000
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PaymentsOfDividendsCommonStock
38719000
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74225000
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827000
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31318000
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0
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384000
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IncomeTaxesPaid
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5094000
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10619000
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-659000
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14464000
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InterestPaid
5419000
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99360000
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InterestAndDividendIncomeOperating
159796000
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2628000
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InterestAndFeeIncomeLoansAndLeases
102172000
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NetIncomeLoss
74225000
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PaymentsForProceedsFromLoansAndLeases
306412000
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-15757000
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OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
547000
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InterestIncomeSecuritiesTaxExempt
25552000
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334000
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GainLossOnSaleOfSecuritiesNet
2772000
CY2012 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
1703000
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NoninterestIncome
57209000
CY2012 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
1140000
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
825000
CY2012 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
16180000
CY2012 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
6283000
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InterestExpenseOther
235000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
423000
CY2012 us-gaap Noninterest Expense
NoninterestExpense
109049000
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DefinedContributionPlanCostRecognized
4711000
CY2012 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
970000
CY2012 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
2746000
CY2012 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
311832000
CY2012 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
7920000
CY2012 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
8370000
CY2012 us-gaap Other Noninterest Expense
OtherNoninterestExpense
22083000
CY2012 us-gaap Equipment Expense
EquipmentExpense
8790000
CY2012 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
31169000
CY2012 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
632000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
510000
CY2012 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
18837000
CY2012 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
51941000
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
109903000
CY2012 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
2557000
CY2012 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
3484000
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
13000
CY2012 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
144144000
CY2012 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2012 us-gaap Interest Expense
InterestExpense
5112000
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824000
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1517000
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1113000
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24025000
CY2012 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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1017000
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-1216000
CY2012 us-gaap Available For Sale Securities Gross Realized Losses
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44000
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2220000
CY2012 us-gaap Interest Expense Deposits
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4877000
CY2012 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
2199000
CY2012 us-gaap Proceeds From Payments For In Interest Bearing Deposits In Banks
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87654000
CY2012 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2012 us-gaap Amortization Of Intangible Assets
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149000
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7076000
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3044000
CY2012 us-gaap Depreciation
Depreciation
6492000
CY2012 us-gaap Labor And Related Expense
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CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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2772000
CY2012 us-gaap Defined Benefit Plan Service Cost
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CY2012 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2012 us-gaap Current Federal Tax Expense Benefit
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CY2012 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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1564000
CY2012 us-gaap Income Tax Expense Benefit
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25135000
CY2012 ffin Atm Interchange And Credit Card Fees
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15187000
CY2012 ffin Transfer Of Loans To Foreclosed Assets
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2459000
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5448000
CY2012 ffin Net Gain Loss On Sale Of Foreclosed Assets
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CY2012 ffin Additional Tax Benefit Related To Directors Deferred Compensation Plan
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127000
CY2012 ffin Printing Stationery And Supplies
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1970000
CY2012 ffin Net Decrease Increase In Interest Bearing Time Deposits In Banks
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12170000
CY2012 ffin Investment Securities Purchased But Not Settled
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8589000
CY2012 ffin Net Increase Decrease In Noninterest Bearing Deposits
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210132000
CY2012 ffin Interest On Federal Funds Sold And Interest Bearing Deposits In Banks
InterestOnFederalFundsSoldAndInterestBearingDepositsInBanks
754000

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