Income Statement ZIONS BANCORPORATION (NASDAQ - ZION)
2009 Y 2010 Y 2011 Y 2012 Y 2013 Q1 YTD Source Document 12/31/2011 12/31/2012 12/31/2012 12/31/2012 3/31/2013 Currency Code USD USD USD USD USD (in thousands) Interest and fees on loans 2,350,050 2,172,093 2,049,928 1,889,884 453,433 Interest on money market investments 7,914 10,946 13,832 21,080 5,439 Interest on securities Held-to-maturity 54,327 33,405 35,716 34,751 7,974 Available-for-sale 100,307 88,035 87,105 92,261 17,712 Trading account 2,728 2,220 2,000 746 190 Total interest income 2,515,326 2,306,699 2,188,581 2,038,722 484,748 Interest on deposits 424,684 196,112 128,479 80,146 15,642 Interest on short-term borrowings 14,720 12,561 6,685 1,406 92 Interest on long-term debt 178,390 383,783 297,232 225,230 50,899 Total interest expense 617,794 592,456 432,396 306,782 66,633 Net interest income 1,897,532 1,714,243 1,756,185 1,731,940 418,115 Provision for loan losses 2,016,927 852,693 74,532 14,227 (29,035) Net interest income after provision for loan losses (119,395) 861,550 1,681,653 1,717,713 447,150 Service charges and fees on deposit accounts 212,562 199,748 174,435 176,401 43,580 Other service charges, commissions and fees 156,539 178,487 185,836 174,420 42,731 Trust and wealth management income 29,949 27,452 26,683 28,402 6,994 Capital markets and foreign exchange 50,313 37,636 31,407 26,810 7,486 Dividends and other investment income 26,631 33,074 42,428 55,825 12,724 Loan sales and servicing income 22,261 29,382 28,072 39,929 10,951 Fair value and nonhedge derivative loss 113,779 (15,827) (4,980) (21,782) (5,445) Equity securities gains, net (1,825) (5,993) 6,511 11,253 2,832 Fixed income securities gains, net (3,846) 11,055 11,868 19,544 3,299 Impairment losses on investment securities Impairment losses on investment securities (569,866) (156,452) (77,325) (166,257) (31,493) Noncredit-related losses on securities not expected to be sold (recognized in other comprehensive income) 289,403 71,097 43,642 62,196 21,376 Net impairment losses on investment securities (280,463) (85,355) (33,683) (104,061) (10,117) Valuation losses on securities purchased (212,092) NA NA NA NA Gain on subordinated debt modification 508,945 NA NA NA NA Gain on subordinated debt exchange 0 14,471 0 0 NA Acquisition related gains 169,186 NA NA NA NA Other 12,162 29,478 29,607 13,129 6,184 Total noninterest income 804,101 453,608 498,184 419,870 121,219 Salaries and employee benefits 818,837 825,344 874,293 885,661 229,789 Occupancy, net 112,201 113,559 112,537 112,947 27,389 Furniture and equipment 99,878 101,061 105,703 108,990 26,074 Other real estate expense 110,800 144,815 77,570 19,723 1,977 Credit-related expense 44,979 71,205 61,629 50,518 10,482 Provision for unfunded lending commitments 65,511 (4,737) (9,286) 4,387 (6,354) Legal and professional services 37,197 39,540 38,992 52,509 10,471 Advertising 22,982 24,820 27,164 25,720 5,893 FDIC premiums 100,517 101,990 63,918 43,401 9,711 Amortization of core deposit and other intangibles 31,674 25,517 20,070 17,010 3,819 Other 226,934 275,212 285,974 275,151 78,097 Total noninterest expense 1,671,510 1,718,326 1,658,564 1,596,017 397,348 Impairment loss on goodwill 636,216 NA NA NA NA Income before income taxes (1,623,020) (403,168) 521,273 541,566 171,021 Income taxes (401,343) (106,819) 198,583 193,416 60,634 Net income (1,221,677) (296,349) 322,690 348,150 110,387 Net loss applicable to noncontrolling interests (5,566) (3,621) (1,114) (1,366) (336) Net income applicable to controlling interest (1,216,111) (292,728) 323,804 349,516 110,723 Preferred stock dividends (102,969) (122,884) (170,414) (170,885) (22,399) Preferred stock redemption 84,633 3,107 0 0 NA Net earnings applicable to common shareholders (1,234,447) (412,505) 153,390 178,631 88,324 Basic shares 124,443 166,054 182,393 183,081 183,396 Diluted shares 124,443 166,054 182,605 183,236 183,655 Basic (9.92) (2.48) 0.83 0.97 0.48 Diluted (9.92) (2.48) 0.83 0.97 0.48 Net income NA (296,349) 322,690 348,150 110,387 Other comprehensive income (loss), net of tax Net realized and unrealized holding gains on investments NA 4,248 (77,280) 129,330 48,796 Reclassification for net losses on investments included in earnings NA 45,689 12,852 51,360 3,962 Noncredit-related impairment losses on securities not expected to be sold NA (43,920) (26,481) (38,406) (12,754) Accretion of securities with noncredit-related impairment losses not expected to be sold NA 131 410 6,863 209 Net unrealized losses on derivative instruments NA (37,357) (21,298) (7,610) (959) Pension and postretirement NA 6,812 (18,991) 4,390 NA Other comprehensive income NA (24,397) (130,788) 145,927 39,254 Comprehensive income NA (320,746) 191,902 494,077 149,641 Comprehensive loss applicable to noncontrolling interests NA (3,621) (1,114) (1,366) (336) Comprehensive income applicable to controlling interest NA (317,125) 193,016 495,443 149,977
Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.
