PBCT
People's United Financial, Inc.

Market cap $6.6942B
Enterprise value $10.86B
Employees 4,749
Revenue $1.43B
EBITDA N/A
Income $323M
EPS 0.97
P/E 20.30
Forward P/E 14.27
EV/EBITDA N/A
PEG 7.59
Earnings date 2018-04-18
Volume 1.97M / 2.91M
Relative vol. 0.68 ×
Sales Q/Q 15.65%
Sales Y/Y 3.16%
Est. EPS Q/Q 36.36%
Beta 0.93
Mean Recomm. 3.20
IPO year 1988
Country United States
RSI 50.82
Range $19.44 – $19.69
52 weeks $15.97 – $20.14
SMA 50 $19 -1.03%
SMA 200 $18 -6.85%
1 year target $20 +2.13%

Intraday

5 days

1 month

3 months

6 months

1 year

5 years

10 years

All time

Monday, 19 February 2018
zacks
People's United Financial Up 2.1% Since Earnings Report: Can It Continue?
Friday, 16 February 2018
+1.02%
simplywall.st
Dividend Flavor Of The Month: Compass Minerals International And More
Thursday, 8 February 2018
-3.28%
prnewswire
People's United Bank Recognized Nationally by Greenwich Associates with Five Excellence in Middle Market Banking Awards for Cash Management
Tuesday, 6 February 2018
+2.52%
markit
See what the IHS Markit Score report has to say about People's United Financial Inc.
Thursday, 1 February 2018
+0.97%
simplywall.st
Understated Factors You Should Consider Before Investing In People’s United Financial Inc
zacks
Why People's United Financial Stock Might be a Great Pick
Thursday, 25 January 2018
-0.40%
simplywall.st
5 Days Left Before People’s United Financial Inc Will Start Trading Ex-Dividend, Should You Buy?
Friday, 19 January 2018
+1.06%
zacks
People's United Tops Q4 Earnings & Revenue Estimates
Thursday, 18 January 2018
-0.05%
fool
People's United Financial, Inc. Q4 2017 Earnings Conference Call Transcript
ap
People's United tops 4Q profit forecasts
prnewswire
People's United Financial Declares Cash Dividend on Preferred Stock
prnewswire
People's United Financial Reports Fourth Quarter Net Income of $106.2 Million, or $0.30 Per Common Share; Operating Earnings of $0.31 Per Common Share
Wednesday, 17 January 2018
-0.15%
simplywall.st
People’s United Financial Inc Is A Real Dividend Rock Star – Here Is Why
Tuesday, 16 January 2018
-1.07%
zacks
People's United to Post Q4 Earnings: A Beat in Store?
Saturday, 16 December 2017
forbes
The Best And Worst High-Yield Dividend Aristocrats
Friday, 15 December 2017
+1.29%
hvst
These 5 Dividend Aristocrats Pay Up to 5.6%
Thursday, 14 December 2017
-0.16%
prnewswire
People's United Financial Schedules Conference Call To Review Fourth Quarter And Full-year 2017 Results
Tuesday, 5 December 2017
-1.81%
zacks
Is it Advisable to Add People's United Stock Now?
Tuesday, 28 November 2017
+2.86%
nasdaq
Bio-Rad Laboratories Larger Than S&P 500 Component People's United Financial
Sunday, 19 November 2017
simplywall.st
November Dividend Stock Picks
Thursday, 16 November 2017
-1.04%
prnewswire
People's United Bank Recognized Nationally by Greenwich Associates with Best Brand Award in Middle Market Banking for Ease of Doing Business
Monday, 13 November 2017
+3.29%
nasdaq
People's United Financial, Inc. Buys iShares US ...
Thursday, 9 November 2017
-0.67%
seekingalpha
50 'Safer' Dividends Culled From 80 Champion Dogs Surveyed In November
Wednesday, 8 November 2017
-0.22%
seekingalpha
AT&T Is Top Champion Dividend Dog Gainer Per Broker Targets For November
nasdaq
PBCT Crosses Below Key Moving Average Level
globenewswire
Factors of Influence in 2018, Key Indicators and Opportunity within AGNC Investment, Discovery Communications, Array BioPharma, Callon Petroleum, People's United, and DDR – New Research Emphasizes Economic Growth
Friday, 3 November 2017
-0.27%
nasdaq
People's United Financial Reaches Analyst Target Price
Thursday, 2 November 2017
+0.70%
nasdaq
PBWM Holdings, LLC Buys Calamos Strategic Total Return Fund, SPDR MSCI ACWI ex ...
Wednesday, 1 November 2017
-1.17%
nasdaq
PARK CIRCLE Co Buys Visa Inc, Schlumberger, Wal-Mart Stores Inc, Sells CBS ...
Monday, 30 October 2017
-0.90%
prnewswire
James Curran Joins People's United Bank as Senior Vice President, Regional Manager, Responsible for Central and Western Massachusetts
nasdaq
People's United Financial, Inc. Ex-Dividend Date Scheduled for October ...
Wednesday, 25 October 2017
-0.80%
nasdaq
People's United Financial Inc President and CEO John P Barnes Sold $5.7 ...
Tuesday, 24 October 2017
+0.27%
prnewswire
People's United Bank Marks 175 Year Anniversary With Community Foundation Gift
Monday, 23 October 2017
-0.79%
prnewswire
People's United Financial, Inc. Releases Results of 2017 Dodd-Frank Act Company-Run Stress Test
Friday, 20 October 2017
-2.43%
nasdaq
Stocks Reach New Record Highs Amid Optimism About Tax Reform - US Commentary
nasdaq
Stocks Remain Mostly Positive In Mid-Day Trading - US Commentary
nasdaq
People's United Beats on Q3 Earnings, Revenues Rise
zacks
People's United Beats on Q3 Earnings, Revenues Rise
Thursday, 19 October 2017
+1.44%
seekingalpha
People's United Financial's CEO Jack Barnes on Q3 2017 Results ...
Thursday, 19 October 2017
+1.44%
ap
People's United beats 3Q profit forecasts
nasdaq
People's United Financial Inc. Q3 Income Climbs 18%
reuters
People's United Financial reports Q3 earnings $0.26/shr
prnewswire
People's United Financial Reports Third Quarter Net Income of $90.8 Million, or $0.26 Per Common Share
nasdaq
After-Hours Earnings Report for October 19, 2017 : PYPL, ISRG, MXIM, ETFC ...
Tuesday, 17 October 2017
-1.04%
zacks
Will High Costs Impact People's United Q3 Earnings?
nasdaq
Will High Costs Impact People's United Q3 Earnings?
Friday, 13 October 2017
+0.33%
reuters
DIARY-US earnings week ahead
Tuesday, 10 October 2017
+0.71%
seekingalpha
50 'Safer' Dividend Champion Dog Gains Dwindle As Prices Peak In September
Wednesday, 27 September 2017
+0.62%
nasdaq
PBCT Makes Bullish Cross Above Critical Moving Average
Friday, 22 September 2017
-0.06%
prnewswire
People's United Financial, Inc. Names Jane Chwick to Board of Directors
Thursday, 14 September 2017
-0.71%
prnewswire
People's United Financial Schedules Conference Call To Review Third Quarter 2017 Results
Tuesday, 5 September 2017
-1.97%
nasdaq
5 Reasons to Bet on People's United Stock Right Now
Monday, 21 August 2017
-0.42%
zacks
People's United Down 5.7% Since Earnings Report: Can It Rebound?
Wednesday, 9 August 2017
-0.06%
seekingalpha
Dividend Champion Portfolio August Update
Tuesday, 1 August 2017
+0.11%
nasdaq
People's United Financial's Preferred Stock, Series A Crosses Above 5% Yield ...
nasdaq
HSBC Holdings plc Ex-Dividend Date Scheduled for August 02, 2017
nasdaq
People's United Acquires LEAF Commercial Capital
Monday, 24 July 2017
+0.74%
zacks
People's United Q2 Earnings: What to Expect?
Friday, 21 July 2017
-1.02%
nasdaq
People's United Beats on Q2 Earnings, Revenues Rise
Thursday, 20 July 2017
+0.17%
reuters
People's United Financial Q2 net income $69.3 million
nasdaq
After-Hours Earnings Report for July 20, 2017 : MSFT, V, EBAY, COF, ISRG, SWKS ...
nasdaq
SPDR S&P Dividend ETF Experiences Big Outflow
Wednesday, 19 July 2017
+0.17%
nasdaq
People's United Bank To Acquire LEAF Commercial Capital - Quick Facts
reuters
People's United Bank acquires Leaf Commercial Capital
Tuesday, 18 July 2017
+0.00%
zacks
Will Loan Growth Aid People's United Q2 Earnings?
Thursday, 6 July 2017
-1.06%
bloomberg
The Passion of Wall Street Anti-Passive-ists
Wednesday, 5 July 2017
-0.06%
zacks
People's United Poised for Growth: Should You Hold?
Thursday, 29 June 2017
-0.28%
nasdaq
Donna Lillie Joins Sterling National Bank's Municipal & Non-Profit Banking Team
Wednesday, 28 June 2017
+0.81%
fool
5 Highest-Yielding Big Bank Stocks
Monday, 26 June 2017
+0.17%
seekingalpha
Reliable Dividend Bank Stocks: Valuations And Recommendations
seekingalpha
Reliable Dividend Bank Stocks: Valuations & Recommendations
Thursday, 19 January 2017
-0.83%
reuters
People's United Financial reports Q4 non-gaap operating EPS $0.24
Monday, 24 October 2016
+0.12%
reuters
People's United announces pricing of offering of preferred stock
Thursday, 20 October 2016
+1.14%
reuters
People's United Financial reports Q3 net income of $73.7 mln
Friday, 22 July 2016
+1.18%
reuters
People's United Financial Inc sees 2016 net interest income growth of 5-7 pct
Thursday, 21 July 2016
-0.85%
reuters
People's United Financial Q2 earnings per share $0.23
Tuesday, 28 June 2016
+0.78%
reuters
Suffolk Bancorp - $16 million termination fee payable to People's United
Monday, 27 June 2016
-4.02%
reuters
People's United Financial, Inc. to acquire Suffolk Bancorp
Date
#
Company
Insider Title
Trans.
Transaction
Shares Price per share Total price Shares after Source
2018-01-29 Robert E Trautmann
Sr Ex VP, Gen Cnsl & Secretary
Sr Ex VP, Gen Cnsl & Secretary Sale 30,000 $19.86 $595,800
2018-01-29
23,706
2018-01-22 Mark W Richards
Sale 6,500 $19.84 $128,960
2018-01-22
300,714
2018-01-22 Jerry Franklin
Sale 4,300 $19.91 $85,613
2018-01-22
92,949
2017-12-05 Janet M Hansen
Sale 10,000 $19.14 $191,400
2017-12-05
135,707
2017-12-04 Jeffrey J Tengel
Sr. Executive Vice President
Sr. Executive Vice President Option exercise 173,685 $13.90 $2,414,222
2017-12-04
289,335
2017-11-29 John K Dwight
Option exercise 56,928 $15.66 $891,492
2017-11-29
292,098
2017-11-29 R David Rosato
Sr EVP and CFO
Sr EVP and CFO Option exercise 6,040 $16.94 $102,318
2017-11-29
86,104
2017-11-29 David K Norton
Sr Ex VP & Chief HR Offcr
Sr Ex VP & Chief HR Offcr Option exercise 108,194 $14.85 $1,606,681
2017-11-29
236,619
2017-10-24 John P Barnes
President and CEO
President and CEO Option exercise 299,309 $15.68 $4,693,165
2017-10-24
397,790
2017-10-24 Mark W Richards
Option exercise 26,732 $15.66 $418,623
2017-10-24
332,668
2017-10-23 Sara M Longobardi
Sr Executive Vice President
Sr Executive Vice President Option exercise 43,450 $18.10 $786,445
2017-10-23
152,807
2017-09-20 Janet M Hansen
Sale 12,000 $17.14 $205,680
2017-09-20
145,707
2017-07-25 Jeffrey Hoyt
Chief Accounting Officer
Chief Accounting Officer Sale 6,759 $17.98 $121,527
2017-07-25
16,571
2017-06-08 Robert E Trautmann
Sr Ex VP, Gen Cnsl & Secretary
Sr Ex VP, Gen Cnsl & Secretary Option exercise 118,836 $14.44 $1,715,992
2017-06-08
145,726
2017-05-30 Jerry Franklin
Sale 4,520 $16.72 $75,574
2017-05-30
97,249
2017-03-07 Robert E Trautmann
Sr Ex VP, Gen Cnsl & Secretary
Sr Ex VP, Gen Cnsl & Secretary Sale 53,900 $19.20 $1,034,880
2017-03-07
53,706
2017-03-07 David K Norton
Sr Ex VP & Chief HR Offcr
Sr Ex VP & Chief HR Offcr Option exercise 149,965 $13.90 $2,084,514
2017-03-07
276,891
2017-03-07 Galan G Daukas
Sr. Executive Vice President
Sr. Executive Vice President Sale 9,143 $19.21 $175,637
2017-03-07
41,669
2017-03-07 Galan G Daukas
Sr. Executive Vice President
Sr. Executive Vice President Sale 9,143 $19.21 $175,637
2017-03-07
41,669
2017-02-17 Robert E Trautmann
Sr Ex VP, Gen Cnsl & Secretary
Sr Ex VP, Gen Cnsl & Secretary Sale 696 $19.10 $13,294
2017-02-17
31,091
2017-02-10 Robert E Trautmann
Sr Ex VP, Gen Cnsl & Secretary
Sr Ex VP, Gen Cnsl & Secretary Sale 232 $18.77 $4,355
2017-02-10
26,055
2017-01-25 Mark W Richards
Sale 32,732 $19.02 $622,563
2017-01-25
300,632
2017-01-24 Richard M Hoyt
Sale 100,000 $18.89 $1,889,000
2017-01-24
62,882
2016-12-15 David K Norton
Sr Ex VP & Chief HR Offcr
Sr Ex VP & Chief HR Offcr Option exercise 43,745 $13.42 $587,058
2016-12-15
170,584
2016-12-13 Richard M Hoyt
Sale 50,000 $19.38 $969,000
2016-12-13
162,882
2016-12-08 Kevin T. Bottomley
Sale 5,000 $19.85 $99,250
2016-12-08
128,906
2016-12-08 Jeffrey J Tengel
Sr. Executive Vice President
Sr. Executive Vice President Option exercise 195,883 $13.99 $2,740,403
2016-12-08
309,044

Notable SEC filings of People's United Financial, Inc.

Date Contents
Source
2017-11-07 8-K Regulation FD Disclosure; Financial Statements and Exhibits
2017-10-23 8-K Regulation FD Disclosure; Financial Statements and Exhibits
2017-10-20 8-K Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits
2017-09-25 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Financial Statements and Exhibits
2017-09-12 8-K Regulation FD Disclosure; Financial Statements and Exhibits
2017-08-09 10-Q Quarterly report
2017-07-21 8-K Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits
2017-05-24 8-K Regulation FD Disclosure; Financial Statements and Exhibits
2017-05-10 10-Q Quarterly report
2017-04-25 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year; Submission of Matters to a Vote of Security Holders
2017-04-24 8-K Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits
2017-04-03 8-K Completion of Acquisition or Disposition of Assets; Regulation FD Disclosure; Financial Statements and Exhibits
2017-03-01 10-K Yearly report
2017-02-17 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
2017-02-09 8-K Regulation FD Disclosure; Financial Statements and Exhibits
2017-01-24 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year; Financial Statements and Exhibits
2017-01-20 8-K Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits
2016-11-30 8-K Other Events
2016-11-09 10-Q Quarterly report
2016-11-01 8-K Regulation FD Disclosure; Financial Statements and Exhibits
2016-10-31 8-K Material Modifications to Rights of Security Holders; Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year; Other Events; Financial Statements and Exhibits
2016-10-25 8-K Regulation FD Disclosure; Financial Statements and Exhibits
2016-10-21 8-K Regulation FD Disclosure; Financial Statements and Exhibits
2016-10-21 8-K Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits
2016-08-09 10-Q Quarterly report
2016-07-26 8-K Regulation FD Disclosure; Financial Statements and Exhibits
Equal-Weight
Morgan Stanley 4 June 2017
Sell → Hold
Sandler O'Neill 9 March 2017

People's United executives

Insider Title Age Since Compensation
John Barnes (61)
President, Chief Executive Officer, Director since 2010
President, Chief Executive Officer, Director 61 2010 $4,658,450
Lee Powlus (56)
Senior Executive Vice President, Chief Administrative Officer since 2011
Senior Executive Vice President, Chief Administrative Officer 56 2011 $1,625,180
Jeffrey Tengel (54)
Senior Executive Vice President - Commercial Banking Group since 2011
Senior Executive Vice President - Commercial Banking Group 54 2011 $1,568,530
Kirk Walters (61)
Director since 2014
Director 61 2014 $1,498,180
R. David Rosato (55)
Chief Financial Officer, Executive Vice President since 2014
Chief Financial Officer, Executive Vice President 55 2014 $1,460,470
David Norton (61)
Senior Executive Vice President, Chief Human Resources Officer since 2009
Senior Executive Vice President, Chief Human Resources Officer 61 2009 $1,438,190
Galan Daukas (53)
Executive Vice President, Wealth management since 2013
Executive Vice President, Wealth management 53 2013 $1,306,490
George Carter (80)
Non-Executive Independent Chairman of the Board since 2011
Non-Executive Independent Chairman of the Board 80 2011 $360,124
Mark Richards (71)
Independent Director since 2008
Independent Director 71 2008 $178,885
Janet Hansen (74)
Independent Director since 2004
Independent Director 74 2004 $168,940
Jerry Franklin (69)
Independent Director since 1997
Independent Director 69 1997 $160,874
John Dwight (72)
Independent Director since 2008
Independent Director 72 2008 $160,038
Nancy McAllister (57)
Independent Director since 2013
Independent Director 57 2013 $156,991
Collin Baron (69)
Independent Director since 2001
Independent Director 69 2001 $155,657
William Cruger (58)
Independent Director
Independent Director 58 $154,924
Kevin Bottomley (64)
Independent Director since 2016
Independent Director 64 2016 $151,614
Andrew Hersom
Investor Relations since 2017
Investor Relations 2017
Jane Chwick (54)
Director since 2017
Director 54 2017
Sara Longobardi (53)
Senior Executive Vice President - Retail banking
Senior Executive Vice President - Retail banking 53
Robert Trautmann (63)
Senior Executive Vice President, General Counsel since 2010
Senior Executive Vice President, General Counsel 63 2010
Chantal Simon (52)
Senior Executive Vice President, Chief Risk Officer since 2010
Senior Executive Vice President, Chief Risk Officer 52 2010
People's United Financial, Inc. logo

People's United Financial, Inc. operates as the bank holding company for People's United Bank, National Association that provides commercial banking, retail banking, and wealth management services to individual, corporate, and municipal customers. The company operates in two segments, Commercial Banking and Retail Banking. The Commercial Banking segment offers commercial real estate lending, commercial and industrial lending, and commercial deposit gathering services. This segment also provides equipment financing; cash management, correspondent banking, and municipal banking services; and institutional trust, corporate trust, private banking, and insurance services. The Retail Banking segment offers consumer lending, including residential mortgage and home equity lending; and consumer deposit gathering services. This segment also provides brokerage, financial advisory, investment management, life insurance, and non-institutional trust services. In addition, the company offers online banking, investment trading, and telephone banking services. It operates through a network of 387 branches and 593 ATMs in Connecticut, southeastern New York, Massachusetts, Vermont, Maine, and New Hampshire. People's United Financial, Inc. was founded in 1842 and is headquartered in Bridgeport, Connecticut.

  • People's United Financial, Inc., 850 Main Street, Bridgeport 06604, United States
  • peoples.com
  • 203-338-7171

Quarterly EPS estimates

Profit margin

Debt to assets

Cash flow

Balance sheet

(in millions) 2017Q3 2017Q2 2017Q1 2016Q4
Current assets
Cash $7,328.4 $7,335.9 $6,804.3 $7,170.3
Short term investments $302.5 $216.3 $392.2 $181.7
Net receivables
Inventory
Other current assets
Total current assets
Long term investments $38,759.5 $37,971.8 $35,577 $35,977
Property, plant & equipment $264.7 $270.2 $239.4 $244.5
Goodwill $2,411.4 $2,263 $1,992.7 $1,992.7
Intangible assets $156.5 $163.3 $143.1 $149.4
Other assets $1,368.6 $1,368.4 $1,184.8 $1,316.3
Deferred long term asset charges
Total assets $43,998.2 $43,023.2 $40,229.6 $40,609.8
Current liabilities
Accounts payable
Short long term debt $4,144 $4,084.4 $3,183 $4,056.8
Other current liabilities $32,547.3 $31,814.7 $30,505.7 $29,860.8
Total current liabilities
Long term debt
Other liabilities $654.6 $514.1 $442 $520.2
Deferred long term liabilities
Minority interest
Total liabilities $38,252.1 $37,319.7 $35,034.6 $35,467.9
Stockholders' equity
Stock option warrants
Common stock $4.3 $4.3 $4.1 $4
Retained earnings $996.4 $967.8 $960.9 $949.3
Treasury stock -$1,162.1 -$1,162.1 -$1,162.1 -$1,162
Capital surplus $5,972.2 $5,965 $5,472.7 $5,446.1
Other stockholder equity -$308.8 -$315.6 -$324.7 -$339.6
Total stockholder equity $5,746.1 $5,703.5 $5,195 $5,141.9
Net tangible assets $3,178.2 $3,277.2 $3,059.2 $2,999.8
(in millions) 2016 2015 2014
Current assets
Cash $7,170.3 $6,784.2 $5,457.1
Short term investments $181.7 $380.5 $668.6
Net receivables
Inventory
Other current assets
Total current assets
Long term investments $35,977 $34,378.4 $31,264.2
Property, plant & equipment $244.5 $257.8 $277.8
Goodwill $1,992.7 $1,958.7 $1,954.5
Intangible assets $149.4 $129.1 $148
Other assets $1,316.3 $1,202 $1,063.2
Deferred long term asset charges
Total assets $40,609.8 $38,946.7 $35,997.1
Current liabilities
Accounts payable
Short long term debt $4,056.8 $4,307.3 $3,691.7
Other current liabilities $29,860.8 $28,417.4 $26,138.2
Total current liabilities
Long term debt
Other liabilities $520.2 $457.3 $500.6
Deferred long term liabilities
Minority interest
Total liabilities $35,467.9 $34,215.1 $31,364
Stockholders' equity
Stock option warrants
Common stock $4 $3.9 $3.9
Retained earnings $949.3 $880.8 $826.7
Treasury stock -$1,162 -$1,161.8 -$1,161.5
Capital surplus $5,446.1 $5,337.7 $5,291.2
Other stockholder equity -$339.6 -$329 -$327.2
Total stockholder equity $5,141.9 $4,731.6 $4,633.1
Net tangible assets $2,999.8 $2,643.8 $2,530.6

Income statement

(in millions) 2017Q3 2017Q2 2017Q1 2016Q4
Revenue
Total revenue $428.5 $413.6 $375.2 $370.5
Cost of revenue $34.4 $30.9 $27.1 $25.1
Gross profit
Operating expenses
Research & development
Selling, general & administrative $229.2 $249.4 $219.8 $211
Non-recurring
Other operating expenses $14.9 $15 $10.7 $13.9
Total operating expenses
Operating income
Income from continuing operations
Net other income
EBIT $150 $118.3 $117.6 $120.5
Interest expense $20.2 $16.2 $14.8 $14.4
Income before tax $129.8 $102.1 $102.8 $106.1
Income tax expense $39 $32.8 $32 $30.2
Minority interest
Net income from continuing ops $90.8 $69.3 $70.8 $75.9
Non-recurring events
Discontinued operations
Extraordinary items
Effect of accounting change
Other items
Net income
EBITDA $90.8 $69.3 $70.8 $75.9
Income (for common shares) $87.3 $65.8 $67.3 $74.1
(in millions) 2016 2015 2014
Revenue
Total revenue $1,470 $1,421.3 $1,381.4
Cost of revenue $100.9 $95.5 $80.9
Gross profit
Operating expenses
Research & development
Selling, general & administrative $845.2 $836.7 $816.7
Non-recurring
Other operating expenses $60.2 $57.3 $65.4
Total operating expenses
Operating income
Income from continuing operations
Net other income
EBIT $463.7 $431.8 $418.4
Interest expense $54.2 $41.3 $37.8
Income before tax $409.5 $390.5 $380.6
Income tax expense $128.5 $130.4 $128.9
Minority interest
Net income from continuing ops $281 $260.1 $251.7
Non-recurring events
Discontinued operations
Extraordinary items
Effect of accounting change
Other items
Net income
EBITDA $281 $260.1 $251.7
Income (for common shares) $279.2 $260.1 $251.7

Cash flow

(in millions) 2017Q3 2017Q2 2017Q1 2016Q4
Net income $90.8 $69.3 $70.8 $75.9
Operating activities
Depreciation $17.8 $18 $15.6 $15.5
Net income adjustments $20.3 $20.8 $36.1 $36.6
Change in accounts receivable
Changes in liabilities
Changes in inventory
Changes in other operating activities $49 -$66.2 $31 -$80.3
Total cash flow from operations $190.5 $33.2 $176.6 $49.2
Investing activities
Capital expenditures -$10.4 -$8.2 -$8.6 -$13.2
Investments -$18.4 -$590.9 $380.9 -$186.1
Other cash flows from investing -$142 $180 $1.2 -$50.5
Total cash flows from investing -$170.8 -$419.1 $373.5 -$249.8
Financing activities
Dividends paid -$61.8 -$61.8 -$56.2 -$53.4
Sale and purchase of stock $3.2 $3.3 $18.3 $321.4
Net borrowings -$649.3 $887 -$998.2 -$378.9
Other cash flows from financing $732.6 -$543.4 $644.9 $205.3
Total cash flows from financing $24.7 $285.1 -$391.2 $94.4
Effect of exchange rate
Change in cash and equivalents $44.4 -$100.8 $158.9 -$106.2
(in millions) 2016 2015 2014
Net income $281 $260.1 $251.7
Operating activities
Depreciation $60.5 $63.2 $64.4
Net income adjustments $96.8 $90.7 $71.1
Change in accounts receivable
Changes in liabilities
Changes in inventory
Changes in other operating activities -$104.2 -$92.5 -$37.2
Total cash flow from operations $335.6 $328.3 $350
Investing activities
Capital expenditures -$42.4 -$80.3 -$53.5
Investments -$1,670.2 -$3,281.2 -$2,172.7
Other cash flows from investing -$40.8 $14.3 $15.9
Total cash flows from investing -$1,753.4 -$3,347.2 -$2,210.3
Financing activities
Dividends paid -$207.5 -$201.2 -$196.9
Sale and purchase of stock $328.6 $24.3 $3
Net borrowings -$247.9 $618.2 -$987.4
Other cash flows from financing $1,443.4 $2,279.2 $3,580.9
Total cash flows from financing $1,316.6 $2,720.5 $2,399.6
Effect of exchange rate
Change in cash and equivalents -$101.2 -$298.4 $539.3
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