Bank of South Carolina Corporation (BKSC US) · 10+ Years of Financial statements

Income Statement	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y
Sales/Revenue/Turnover	12	13	13	13	14	15	16	17	18	18	19	20	20	21	21
+ Sales & Services Revenue	12	13	13	13	14	15	16	17	18	18	19	20	20	21	21
- Cost of Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cost of Goods & Services	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Profit	12	13	13	13	14	15	16	17	18	18	19	20	20	21	21
+ Other Operating Income	-4	-3	-5	- -	-5	-6	-6	-7	-7	- -	- -	- -	- -	- -	- -
- Operating Expenses	12	13	13	13	14	15	16	17	18	18	19	20	20	21	21
+ Selling, General & Admin	4	4	5	6	6	6	7	7	7	7	8	8	8	9	8
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	8	8	9	7	8	9	9	10	10	11	12	12	12	13	13
Operating Income (Loss)	4	3	5	- -	5	6	6	7	7	- -	- -	- -	- -	- -	- -
- Non-Operating (Income) Loss	- -	- -	- -	-5	- -	- -	- -	- -	- -	-8	-8	-9	-8	-9	-9
+ Interest Expense, Net	-14	-13	-13	-13	-13	-13	-14	-15	-16	-17	-19	-20	-18	-18	-20
+ Interest Expense	-2	-1	-1	-1	- -	- -	- -	- -	- -	- -	-1	-1	- -	- -	- -
- Interest Income	12	12	12	12	12	13	13	14	15	16	18	19	17	18	19
+ Other Non-Op (Income) Loss	14	13	13	9	13	13	14	15	16	9	11	10	9	9	11
Pretax Income	4	3	5	5	5	6	6	7	7	8	8	9	8	9	9
- Income Tax Expense (Benefit)	1	1	1	1	2	2	2	2	2	3	1	2	2	2	2
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	3	2	3	3	4	4	4	5	5	5	7	7	6	7	7
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	3	2	3	3	4	4	4	5	5	5	7	7	6	7	7
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	3	2	3	3	4	4	4	5	5	5	7	7	6	7	7
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	3	2	3	3	4	4	4	5	5	5	7	7	6	7	7
Basic Weighted Avg Shares	5	5	5	5	5	5	5	5	5	5	6	6	6	6	6
Basic EPS, GAAP	0.56	0.35	0.58	0.59	0.68	0.76	0.81	0.9	0.97	0.9	1.26	1.33	1.17	1.22	1.2
Basic EPS from Cont Ops	0.56	0.35	0.58	0.59	0.68	0.76	0.81	0.9	0.97	0.9	1.26	1.33	1.17	1.22	1.2
Diluted Weighted Avg Shares	5	5	5	5	5	5	6	6	6	6	6	6	6	6	6
Diluted EPS, GAAP	0.56	0.35	0.58	0.59	0.68	0.76	0.79	0.88	0.94	0.88	1.24	1.31	1.14	1.19	1.18
Diluted EPS from Cont Ops	0.56	0.35	0.58	0.59	0.68	0.76	0.79	0.88	0.94	0.88	1.24	1.31	1.14	1.19	1.18
EBITDA	5	3	5	- -	5	6	7	7	7	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	39.32	22.69	36.03	1.58	38.16	41.12	42.31	43.66	40.08	1.07	1.01	1.14	2.07	1.94	1.71
EBITA	4	3	5	- -	5	6	6	7	7	- -	- -	- -	- -	- -	- -
EBIT	4	3	5	- -	5	6	6	7	7	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
Operating Margin (%)	37.2	20.96	34.27	- -	36.73	39.82	41.03	42.49	39.01	- -	- -	- -	- -	- -	- -
Profit Margin (%)	25.03	14.84	23.65	24.02	25.55	27.49	28.21	28.94	29.51	27.21	35.62	36.06	31.76	31.75	31.75
Sales per Employee	172,660	174,996	177,705	172,435	184,009	187,748	199,877	208,364	240,242	233,945	246,040	256,907	260,760	259,090	262,019
Dividend per Share	0.48	0.36	0.32	0.26	0.46	0.31	0.51	0.44	0.48	0.52	0.67	0.73	0.65	0.78	0.68
Depreciation Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Balance Sheet	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y
Total Current Assets	8	7	6	113	91	118	126	150	148	173	153	151	185	354	301
+ Cash, Cash Equivalents & STI	7	6	5	112	90	117	124	149	146	172	152	150	183	352	299
+ Cash & Cash Equivalents	7	6	5	52	31	22	10	29	26	33	32	49	48	140	28
+ ST Investments	- -	- -	- -	60	59	95	114	120	120	139	120	100	135	212	271
+ Accounts & Notes Receiv	1	1	1	1	1	1	1	1	2	2	2	1	2	1	2
+ Accounts Receivable, Net	1	1	1	1	1	1	1	1	2	2	2	1	2	1	2
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	236	259	274	221	235	223	242	249	266	273	276	294	348	325	352
+ Property, Plant & Equip, Net	2	3	2	3	2	2	2	2	2	2	2	17	17	18	17
+ Property, Plant & Equip	6	7	6	6	6	6	6	6	7	7	7	22	22	24	24
- Accumulated Depreciation	4	4	4	4	4	4	4	4	4	5	5	5	5	6	6
+ LT Investments & Receivables	38	37	39	60	59	95	114	120	120	139	120	100	135	212	271
+ LT Investments	38	37	39	60	59	95	114	120	120	139	120	100	135	212	271
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	195	220	232	159	174	126	125	126	144	132	154	176	196	95	64
+ Total Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Goodwill	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	195	220	232	159	174	126	125	126	144	132	154	176	196	95	64
Total Assets	244	266	281	334	325	341	367	399	414	447	429	445	532	679	653
+ Payables & Accruals	1	1	1	1	- -	1	1	1	1	1	1	1	3	2	2
+ Accounts Payable	1	1	1	1	- -	1	1	1	1	1	1	1	3	2	2
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Debt	1	8	1	- -	- -	- -	7	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Borrowings	1	8	1	- -	- -	- -	7	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Current Liabilities	2	9	1	1	- -	1	8	1	1	1	1	1	3	2	2
+ LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	13	13	14	13
+ LT Borrowings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	13	13	14	13
+ Other LT Liabilities	215	230	250	301	291	305	322	359	373	403	382	379	462	609	599
+ Accrued Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	215	230	250	301	291	305	322	359	373	403	382	379	462	609	599
Total Noncurrent Liabilities	215	230	250	301	291	305	322	359	373	403	382	392	475	623	612
Total Liabilities	217	238	252	302	291	306	330	360	373	404	384	394	478	625	615
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	23	24	28	28	28	29	29	36	37	37	47	47	47	48	48
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	23	24	28	28	28	29	29	36	37	37	47	47	47	48	48
- Treasury Stock	2	2	2	2	2	2	2	2	2	2	2	2	3	3	3
+ Retained Earnings	4	5	2	3	5	7	9	4	7	8	3	6	9	11	14
+ Other Equity	1	1	- -	2	2	1	1	1	-1	-1	-2	- -	2	-2	-20
Equity Before Minority Interest	27	28	29	32	34	35	37	39	41	43	45	51	55	54	39
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	27	28	29	32	34	35	37	39	41	43	45	51	55	54	39
Total Liabilities & Equity	244	266	281	334	325	341	367	399	414	447	429	445	532	679	653
Shares Outstanding	5	5	5	5	5	5	5	5	5	5	6	6	6	6	6
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	13	13	14	13
Net Debt	-6	2	-5	-52	-31	-22	-3	-29	-26	-33	-32	-49	-48	-140	-28
Net Debt to Equity	-21.86	7.99	-16.17	-162.73	-91.49	-63.69	-9.24	-74.57	-64.62	-76.04	-70.02	-95.95	-87.9	-259.86	-71.56
Tangible Common Equity Ratio	11	10.37	10.24	9.58	10.43	10.19	10.01	9.81	9.81	9.58	10.59	11.5	10.33	7.94	5.94
Current Ratio	3.8	0.82	4.74	124.32	223.35	129.34	15.62	115.57	181.62	189.82	118.29	104.47	71.44	170.95	123.91
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Number of Employees	68	72	74	77	78	79	78	81	74	77	79	79	78	82	80

Cash Flow Statement	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y
+ Net Income	3	2	3	3	4	4	4	5	5	5	7	7	6	7	7
+ Depreciation & Amortization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Non-Cash Items	- -	2	-2	-2	-10	15	-2	1	1	3	1	-3	-8	11	3
+ Stock-Based Compensation	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Income Taxes	- -	- -	- -	- -	- -	- -	- -	- -	-1	- -	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	- -	2	-2	-1	-10	14	-3	1	2	3	2	-3	-7	11	3
+ Chg in Non-Cash Work Cap	-1	-1	-1	- -	- -	- -	- -	1	-1	- -	1	- -	1	- -	- -
+ (Inc) Dec in Accts Receiv	- -	-1	-1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	- -	- -	- -	- -	- -	- -	- -	- -	-1	- -	- -	- -	1	-1	- -
+ Inc (Dec) in Other	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	2	3	1	2	-6	19	2	7	6	8	9	4	- -	17	9
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-2	- -	- -	-1
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-2	- -	- -	-1
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	-1	1	-3	-17	1	-39	-19	-7	-2	-20	18	22	-33	-83	-83
+ Dec in LT Investment	5	13	7	28	4	2	39	19	46	25	28	40	35	53	22
+ Inc in LT Investment	-6	-12	-10	-45	-3	-41	-58	-25	-48	-45	-10	-18	-68	-135	-105
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-24	-35	6	-5	-3	-2	-16	-9	-18	-10	-4	- -	-47	14	-24
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-25	-34	2	-23	-3	-40	-35	-15	-21	-30	14	20	-80	-69	-108
+ Dividends Paid	-3	-2	-2	-1	-2	-2	-3	-2	-3	-3	-4	-4	-4	-4	-4
+ Net Cash From Debt	- -	7	-7	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash From Debt	- -	7	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Repayments of Debt	- -	- -	-7	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Financing Activities	18	15	21	50	-10	14	24	29	14	31	-20	-3	83	147	-10
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	15	20	12	49	-13	13	21	27	12	28	-24	-7	79	143	-14
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-8	-11	15	28	-21	-9	-12	19	-3	6	-1	17	-1	92	-112
EBITDA	5	3	5	- -	5	6	7	7	7	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	39.32	22.69	36.03	1.58	38.16	41.12	42.31	43.66	40.08	1.07	1.01	1.14	2.07	1.94	1.71
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow	2	3	- -	2	-6	19	2	7	6	8	9	2	- -	17	9
Free Cash Flow to Firm	1	2	- -	1	-6	18	2	7	6	8	8	2	- -	17	9
Free Cash Flow to Equity	2	10	-7	2	-6	19	2	7	6	8	9	2	- -	17	9
Free Cash Flow per Basic Share	0.39	0.49	0.08	0.35	-1.11	3.45	0.38	1.29	1.08	1.47	1.64	0.41	0.02	3.13	1.61
Price/Free Cash Flow	23.69	12.42	69.82	17.26	-8.25	3.75	29.69	11.6	17.78	11.83	10.82	15.81	192.63	6.61	9.25
Cash Flow to Net Income	0.72	1.55	0.19	0.7	-1.61	4.6	0.49	1.46	1.15	1.67	1.35	0.61	0.05	2.59	1.42

Bank of South Carolina Corporation

BKSC US

11.30

11.30