2014 Form 10-K Financial Statement

#000119312515068206 Filed on February 27, 2015

View on sec.gov

Income Statement

Concept 2014 2013 Q4 2013 Q3
Revenue $363.9M $89.13M $89.10M
YoY Change 4.46% 5.33% 4.84%
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 $46.40M $11.20M $11.00M
YoY Change 4.98% 9.8% 8.91%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $13.82M $3.217M $3.551M
YoY Change -8.33% -26.79% -23.04%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $166.1M $47.10M $47.61M
YoY Change -9.94% 71.27% 31.22%
Income Tax $45.41M $12.43M $13.18M
% Of Pretax Income 27.34% 26.39% 27.67%
Net Earnings $120.7M $34.66M $34.43M
YoY Change -9.94% 64.59% 31.8%
Net Earnings / Revenue 33.16% 38.89% 38.65%
Basic Earnings Per Share $2.69 $0.78 $0.85
Diluted Earnings Per Share $2.65 $0.77 $0.83
COMMON SHARES
Basic Shares Outstanding 44.84M shares 45.15M shares 40.70M shares
Diluted Shares Outstanding 45.45M shares

Balance Sheet

Concept 2014 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $2.582B $1.940B
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 $258.0M $249.7M $247.8M
YoY Change 3.2% 2.08% 3.59%
Goodwill $209.8M $209.8M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $19.00M
YoY Change -44.12%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $17.50B $16.91B $16.18B
YoY Change 3.48% 13.3% 21.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $180.0M $153.0M $130.0M
YoY Change 17.65% -15.93% -32.29%
Deferred Revenue
YoY Change
Short-Term Debt $2.025B $107.0K $211.0K
YoY Change 27.92% -99.98%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $180.0M $153.0M $130.0M
YoY Change 17.65% -15.93% -32.29%
LONG-TERM LIABILITIES
Long-Term Debt $9.000M $5.000M $5.000M
YoY Change 80.0%
Other Long-Term Liabilities $26.00M $23.00M $16.00M
YoY Change 13.04% 21.05% -5.88%
Total Long-Term Liabilities $35.00M $28.00M $21.00M
YoY Change 25.0% 47.37% 23.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $180.0M $153.0M $130.0M
Total Long-Term Liabilities $35.00M $28.00M $21.00M
Total Liabilities $15.86B $15.41B $14.72B
YoY Change 2.93% 12.88% 22.76%
SHAREHOLDERS EQUITY
Retained Earnings $884.6M $860.1M
YoY Change 12.4% 11.04%
Common Stock $937.5M $55.06M
YoY Change 1602.72% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $283.4M $298.0M
YoY Change -25.5% -18.84%
Treasury Stock Shares 9.835M shares 10.50M shares
Shareholders Equity $1.644B $1.506B $1.464B
YoY Change
Total Liabilities & Shareholders Equity $17.50B $16.91B $16.18B
YoY Change 3.48% 13.3% 21.82%

Cashflow Statement

Concept 2014 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income $120.7M $34.66M $34.43M
YoY Change -9.94% 64.59% 31.8%
Depreciation, Depletion And Amortization $46.40M $11.20M $11.00M
YoY Change 4.98% 9.8% 8.91%
Cash From Operating Activities $245.7M $102.1M $71.20M
YoY Change -16.77% 119.1% -13.17%
INVESTING ACTIVITIES
Capital Expenditures $44.79M -$11.30M -$9.600M
YoY Change 16.91% -9.6% -14.29%
Acquisitions $18.23M
YoY Change -169.89%
Other Investing Activities -$1.386B -$98.80M $3.400M
YoY Change 41.09% -88.06% -101.73%
Cash From Investing Activities -$1.431B -$110.1M -$6.200M
YoY Change 40.18% -86.89% -97.02%
FINANCING ACTIVITIES
Cash Dividend Paid $41.36M
YoY Change 14.37%
Common Stock Issuance & Retirement, Net $5.741M $30.20M $201.2M
YoY Change -102.52%
Debt Paid & Issued, Net $1.565M
YoY Change 19.47%
Cash From Financing Activities 390.1M 650.4M 876.0M
YoY Change -79.91% -59.8% 3218.18%
NET CHANGE
Cash From Operating Activities 245.7M 102.1M 71.20M
Cash From Investing Activities -1.431B -110.1M -6.200M
Cash From Financing Activities 390.1M 650.4M 876.0M
Net Change In Cash -795.2M 642.4M 941.0M
YoY Change -165.39% -22.12% -1041.94%
FREE CASH FLOW
Cash From Operating Activities $245.7M $102.1M $71.20M
Capital Expenditures $44.79M -$11.30M -$9.600M
Free Cash Flow $200.9M $113.4M $80.80M
YoY Change -21.79% 91.88% -13.3%

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CY2013 us-gaap Increase Decrease In Accrued Liabilities
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CY2013 us-gaap Increase Decrease In Federal Funds Purchased And Securities Sold Under Agreements To Repurchase Net
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CY2013 us-gaap Increase Decrease In Time Deposits
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CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2013 us-gaap Current Income Tax Expense Benefit
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CY2014 dei Document Type
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CY2014 dei Entity Registrant Name
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UMB FINANCIAL CORP
CY2014 dei Entity Well Known Seasoned Issuer
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CY2014 dei Trading Symbol
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UMBF
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CY2014 dei Entity Filer Category
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CY2014 dei Entity Voluntary Filers
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> UMB Financial Corporation (the Company) is a bank holding company, which offers a wide range of banking and other financial services to its customers through its branches and offices in the states of Missouri, Kansas, Colorado, Illinois, Oklahoma, Arizona, Nebraska, Pennsylvania, South Dakota, Indiana, Wisconsin, Utah, Texas, and Massachusetts. The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. These estimates and assumptions also impact reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Following is a summary of the more significant accounting policies to assist the reader in understanding the financial presentation.</p> </div>
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CY2014 dei Document Period End Date
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--12-31
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> <i>The carrying amounts and market values of the securities and the related repurchase liabilities and weighted average interest rates of the repurchase liabilities (grouped by maturity of the repurchase agreements) were as follows as of December&#xA0;31, 2014 (in thousands):</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0"> <tr> <td width="58%"></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom" nowrap="nowrap"><b>Maturity of the Repurchase Liabilities</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Securities&#xA0;Market<br /> Value</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Repurchase<br /> Liabilities</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Weighted&#xA0;Average<br /> Interest Rate</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> On Demand</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">3,008</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">3,001</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.01</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> 2 to 30 days</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2,003,126</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,979,783</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.19</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Over 90 Days</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">301</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">300</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.00</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Total</p> </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,006,435</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,983,084</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.19</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div>
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4 Segment
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CY2012 us-gaap Proceeds From Sale Of Available For Sale Securities
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CY2013Q2 us-gaap Interest And Dividend Income Operating
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CY2013Q2 us-gaap Provision For Loan And Lease Losses
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CY2013Q2 us-gaap Income Tax Expense Benefit
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CY2013Q2 us-gaap Noninterest Expense
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CY2013Q2 umbf Book Value Per Share
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30.20
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CY2014Q2 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2014Q2 us-gaap Provision For Loan And Lease Losses
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CY2014Q2 umbf Book Value Per Share
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CY2014Q2 umbf Estimate Of Possible Additional Loss Contingency
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CY2013Q3 us-gaap Earnings Per Share Diluted
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CY2014Q4 us-gaap Provision For Loan And Lease Losses
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CY2014Q4 us-gaap Income Tax Expense Benefit
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CY2014Q4 us-gaap Noninterest Expense
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