2014 Q4 Form 10-Q Financial Statement

#000119312514400765 Filed on November 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $4.990B $4.891B
YoY Change 2.02% -5.56%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $219.0M $214.0M
YoY Change 2.34% 4.39%
% of Gross Profit
Depreciation & Amortization $128.0M $127.0M $129.0M
YoY Change -2.29% -1.55% -7.19%
% of Gross Profit
Operating Expenses $219.0M $214.0M
YoY Change 2.34% 4.39%
Operating Profit
YoY Change
Interest Expense $365.0M $410.0M
YoY Change -10.98% -18.16%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $2.022B $2.009B $1.972B
YoY Change 7.9% 1.88% -2.62%
Income Tax $521.0M $523.0M $542.0M
% Of Pretax Income 25.77% 26.03% 27.48%
Net Earnings $1.488B $1.471B $1.468B
YoY Change 2.2% 0.2% -0.41%
Net Earnings / Revenue 29.48% 30.01%
Basic Earnings Per Share $0.78 $0.76
Diluted Earnings Per Share $829.0K $0.78 $0.76
COMMON SHARES
Basic Shares Outstanding 1.789B shares 1.798B shares 1.832B shares
Diluted Shares Outstanding 1.807B shares 1.843B shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
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 $2.618B $2.608B $2.608B
YoY Change 0.46% 0.0% -1.58%
Goodwill $9.389B $9.401B $9.173B
YoY Change 2.0% 2.49% 2.57%
Intangibles $3.162B $3.338B $3.455B
YoY Change -10.4% -3.39% 36.4%
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 $402.5B $391.3B $360.7B
YoY Change 10.58% 8.48% 2.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $29.89B $30.05B $26.13B
YoY Change 8.28% 14.99% -6.19%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $29.89B $30.05B $26.13B
YoY Change 8.28% 14.99% -6.19%
LONG-TERM LIABILITIES
Long-Term Debt $32.26B $30.77B $18.75B
YoY Change 60.91% 64.1% -28.61%
Other Long-Term Liabilities $13.48B $13.55B $12.54B
YoY Change 8.37% 8.06% -10.97%
Total Long-Term Liabilities $45.74B $44.31B $31.29B
YoY Change 40.8% 41.64% -22.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $29.89B $30.05B $26.13B
Total Long-Term Liabilities $45.74B $44.31B $31.29B
Total Liabilities $358.4B $347.5B $319.1B
YoY Change 11.22% 8.88% 2.14%
SHAREHOLDERS EQUITY
Retained Earnings $42.53B $41.54B $37.69B
YoY Change 9.99% 10.22% 11.75%
Common Stock $8.334B $8.314B $8.209B
YoY Change 1.18% 1.28% 0.02%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.25B $10.84B $9.174B
YoY Change 18.67% 18.12% 23.27%
Treasury Stock Shares 339.9M shares 330.9M shares 294.1M shares
Shareholders Equity $43.48B $43.14B $40.13B
YoY Change
Total Liabilities & Shareholders Equity $402.5B $391.3B $360.7B
YoY Change 10.58% 8.48% 2.39%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $1.488B $1.471B $1.468B
YoY Change 2.2% 0.2% -0.41%
Depreciation, Depletion And Amortization $128.0M $127.0M $129.0M
YoY Change -2.29% -1.55% -7.19%
Cash From Operating Activities $866.0M $582.0M $2.141B
YoY Change -68.95% -72.82% 766.8%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$6.440B -$8.860B -$5.320B
YoY Change -22.98% 66.54% 77.99%
Cash From Investing Activities -$6.440B -$8.860B -$5.320B
YoY Change -22.98% 66.54% 77.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.05B 1.825B 8.176B
YoY Change 312.7% -77.68% -349.34%
NET CHANGE
Cash From Operating Activities 866.0M 582.0M 2.141B
Cash From Investing Activities -6.440B -8.860B -5.320B
Cash From Financing Activities 10.05B 1.825B 8.176B
Net Change In Cash 4.471B -6.453B 4.997B
YoY Change -242.48% -229.14% -182.99%
FREE CASH FLOW
Cash From Operating Activities $866.0M $582.0M $2.141B
Capital Expenditures
Free Cash Flow
YoY Change

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CY2014Q3 us-gaap Deferred Federal Income Tax Expense Benefit
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10000000
CY2014Q3 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
1000000
CY2014Q3 usb Available For Sale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments Income Tax Expense Benefit
AvailableForSaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairmentsIncomeTaxExpenseBenefit
CY2014Q3 usb Percent Change In Deposits Interest Checking Average
PercentChangeInDepositsInterestCheckingAverage
0.129 pure
CY2014Q3 usb Percent Change In Intangible Assets Net Excluding Goodwill Average
PercentChangeInIntangibleAssetsNetExcludingGoodwillAverage
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CY2014Q3 usb Number Of Residential Mortgage Loans Home Equity And Second Mortgage Loans And Gnma Loans Where Trial Period Arrangement Was Unsuccessful And No Longer Eligible For Permanent Modification
NumberOfResidentialMortgageLoansHomeEquityAndSecondMortgageLoansAndGnmaLoansWhereTrialPeriodArrangementWasUnsuccessfulAndNoLongerEligibleForPermanentModification
435 MortgageLoan
CY2014Q3 usb Percent Change In Time Deposits Average
PercentChangeInTimeDepositsAverage
-0.131 pure
CY2014Q3 usb Percent Change In Noninterest Bearing Deposit Liabilities Average
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0.086 pure
CY2014Q3 usb Percent Change In Loans And Leases Receivable Net Of Deferred Income Average
PercentChangeInLoansAndLeasesReceivableNetOfDeferredIncomeAverage
0.077 pure
CY2014Q3 usb Percent Change In Deposits Savings Deposits Average
PercentChangeInDepositsSavingsDepositsAverage
0.145 pure
CY2014Q3 usb Percent Change In Goodwill Average
PercentChangeInGoodwillAverage
0.028 pure
CY2014Q3 usb Deposits Savings Deposits Average
DepositsSavingsDepositsAverage
100865000000
CY2014Q3 usb Intangible Assets Net Excluding Goodwill Average
IntangibleAssetsNetExcludingGoodwillAverage
3323000000
CY2014Q3 usb Gain Loss On Fair Value Changes Of Msrs Due To Changes In Valuation Assumptions And Derivatives Used To Economically Hedge Msrs
GainLossOnFairValueChangesOfMsrsDueToChangesInValuationAssumptionsAndDerivativesUsedToEconomicallyHedgeMsrs
49000000
CY2014Q3 usb Percent Change In Loans And Leases Receivable Gross Carrying Amount Covered And Not Covered Average
PercentChangeInLoansAndLeasesReceivableGrossCarryingAmountCoveredAndNotCoveredAverage
0.063 pure
CY2014Q3 usb Loan Servicing Fees Included In Mortgage Banking Revenue
LoanServicingFeesIncludedInMortgageBankingRevenue
178000000
CY2014Q3 usb Noninterest Expense Excluding Intangibles
NoninterestExpenseExcludingIntangibles
2563000000
CY2014Q3 usb Percent Change In Loans And Leases Receivable Gross Carrying Amount Covered Average
PercentChangeInLoansAndLeasesReceivableGrossCarryingAmountCoveredAverage
-0.256 pure
CY2014Q3 usb Percent Change In Loans And Leases Receivable Consumer Revolving Credit Card Average
PercentChangeInLoansAndLeasesReceivableConsumerRevolvingCreditCardAverage
0.049 pure
CY2014Q3 usb Assets Average
AssetsAverage
385823000000
CY2014Q3 usb Percent Change In Assets Average
PercentChangeInAssetsAverage
0.096 pure
CY2014Q3 usb Percent Change In Non Interest Expense
PercentChangeInNonInterestExpense
0.019 pure
CY2014Q3 usb Deposits Average
DepositsAverage
271008000000
CY2014Q3 usb Loans And Leases Receivable Consumer Other Average
LoansAndLeasesReceivableConsumerOtherAverage
48698000000
CY2014Q3 usb Stockholders Equity Average
StockholdersEquityAverage
43132000000
CY2014Q3 usb Loans And Leases Receivable Gross Carrying Amount Covered And Not Covered Average
LoansAndLeasesReceivableGrossCarryingAmountCoveredAndNotCoveredAverage
243867000000
CY2014Q3 usb Commercial Products Revenue
CommercialProductsRevenue
209000000
CY2014Q3 usb Loans And Leases Receivable Net Of Deferred Income Average
LoansAndLeasesReceivableNetOfDeferredIncomeAverage
236629000000
CY2014Q3 usb Loans And Leases Receivable Gross Carrying Amount Covered Average
LoansAndLeasesReceivableGrossCarryingAmountCoveredAverage
7238000000
CY2014Q3 usb Noninterest Income Excluding Securities Gains Losses
NoninterestIncomeExcludingSecuritiesGainsLosses
2245000000
CY2014Q3 usb Percent Change In Net Income Attributable To Noncontrolling Interest
PercentChangeInNetIncomeAttributableToNoncontrollingInterest
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CY2014Q3 usb Loans And Leases Receivable Consumer Mortgage Average
LoansAndLeasesReceivableConsumerMortgageAverage
51994000000
CY2014Q3 usb Outstanding Balance Of Residential Mortgage Loans Home Equity And Second Mortgage Loans And Gnma Loans Where Trial Period Was Unsuccessful And No Longer Eligible For Permanent Modification
OutstandingBalanceOfResidentialMortgageLoansHomeEquityAndSecondMortgageLoansAndGnmaLoansWhereTrialPeriodWasUnsuccessfulAndNoLongerEligibleForPermanentModification
57000000
CY2014Q3 usb Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Realized Losses
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4000000
CY2014Q3 usb Corporate Payment Products Revenue
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CY2014Q3 usb Percent Change In Noninterest Expense Excluding Intangibles
PercentChangeInNoninterestExpenseExcludingIntangibles
0.021 pure
CY2014Q3 usb Time Deposits Average
TimeDepositsAverage
41563000000
CY2014Q3 usb Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions
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CY2014Q3 usb Percent Change In Loans And Leases Receivable Consumer Other Average
PercentChangeInLoansAndLeasesReceivableConsumerOtherAverage
0.036 pure
CY2014Q3 usb Goodwill Average
GoodwillAverage
9417000000
CY2014Q3 usb Income Before Provision And Income Taxes
IncomeBeforeProvisionAndIncomeTaxes
2376000000
CY2014Q3 usb Treasury Management Fees
TreasuryManagementFees
136000000
CY2014Q3 usb Other Comprehensive Income Loss Unrealized Gain Loss Arising During Period Before Tax
OtherComprehensiveIncomeLossUnrealizedGainLossArisingDuringPeriodBeforeTax
-5000000
CY2014Q3 usb Percent Change In Loans Receivable Commercial Real Estate Average
PercentChangeInLoansReceivableCommercialRealEstateAverage
0.061 pure
CY2014Q3 usb Loans Receivable Commercial Real Estate Average
LoansReceivableCommercialRealEstateAverage
40839000000
CY2014Q3 usb Percent Change In Loans And Leases Receivable Consumer Mortgage Average
PercentChangeInLoansAndLeasesReceivableConsumerMortgageAverage
0.058 pure
CY2014Q3 usb Percent Change In Noninterest Income Excluding Securities Gains Losses
PercentChangeInNoninterestIncomeExcludingSecuritiesGainsLosses
0.030 pure
CY2014Q3 usb Automated Teller Machine Servicing Fees Net
AutomatedTellerMachineServicingFeesNet
81000000
CY2014Q3 usb Percent Change In Provision For Loan Lease And Other Losses
PercentChangeInProvisionForLoanLeaseAndOtherLosses
0.044 pure
CY2014Q3 usb Percent Change In Income Before Provision And Income Taxes
PercentChangeInIncomeBeforeProvisionAndIncomeTaxes
0.021 pure
CY2014Q3 usb Deposits Interest Checking Average
DepositsInterestCheckingAverage
54454000000
CY2014Q3 usb Percent Change In Stockholders Equity Average
PercentChangeInStockholdersEquityAverage
0.080 pure
CY2014Q3 usb Noninterest Bearing Deposit Liabilities Average
NoninterestBearingDepositLiabilitiesAverage
74126000000
CY2014Q3 usb Percent Change In Deposits Average
PercentChangeInDepositsAverage
0.074 pure
CY2014Q3 usb Loans And Leases Receivable Consumer Revolving Credit Card Average
LoansAndLeasesReceivableConsumerRevolvingCreditCardAverage
17753000000
CY2014Q3 usb Servicing Asset At Fair Value Changes In Fair Value Resulting From Fluctuations In Market Interest Rates
ServicingAssetAtFairValueChangesInFairValueResultingFromFluctuationsInMarketInterestRates
29000000
CY2014Q3 usb Percent Change In Net Income Loss
PercentChangeInNetIncomeLoss
0.002 pure
CY2014Q3 usb Gain Related To Excess Servicing Rights Sold
GainRelatedToExcessServicingRightsSold
44000000
CY2014Q3 usb Deposit Service Charges
DepositServiceCharges
185000000
CY2014Q3 usb Interest Income Expense Net Taxable Equivalent Basis
InterestIncomeExpenseNetTaxableEquivalentBasis
2748000000
CY2014Q3 usb Percent Change In Interest Income Expense Net Taxable Equivalent Basis
PercentChangeInInterestIncomeExpenseNetTaxableEquivalentBasis
0.013 pure
CY2014Q3 usb Percent Change In Marketable Securities Realized Gain Loss
PercentChangeInMarketableSecuritiesRealizedGainLoss
pure
CY2014Q3 usb Percent Change In Revenues
PercentChangeInRevenues
0.020 pure
CY2014Q3 usb Percent Change In Amortization Of Intangible Assets
PercentChangeInAmortizationOfIntangibleAssets
-0.073 pure
CY2014Q3 usb Percent Change In Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest Taxable Equivalent Basis
PercentChangeInIncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterestTaxableEquivalentBasis
0.018 pure
CY2014Q3 usb Percent Change In Income Tax Expense Benefit Taxable Equivalent Basis
PercentChangeInIncomeTaxExpenseBenefitTaxableEquivalentBasis
-0.032 pure
CY2014Q3 usb Percent Change In Profit Loss
PercentChangeInProfitLoss
0.039 pure
CY2014Q3 usb Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest Taxable Equivalent Basis
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterestTaxableEquivalentBasis
2065000000
CY2014Q3 usb Income Tax Expense Benefit Taxable Equivalent Basis
IncomeTaxExpenseBenefitTaxableEquivalentBasis
579000000
CY2014Q3 usb Loans Receivable Commercial Financial And Agricultural Average
LoansReceivableCommercialFinancialAndAgriculturalAverage
77345000000
CY2014Q3 usb Percent Change In Loans Receivable Commercial Financial And Agricultural Average
PercentChangeInLoansReceivableCommercialFinancialAndAgriculturalAverage
0.136 pure
CY2014Q3 usb Servicing Asset At Fair Value Rights Capitalized
ServicingAssetAtFairValueRightsCapitalized
109000000

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