Switch to:
GuruFocus has detected 4 Warning Signs with Comerica Inc $CMA.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
Comerica Inc (NYSE:CMA)
Cash Flow from Operations
$493 Mil (TTM As of Dec. 2016)

Cash flow from operations refers to the cash brought in through a company’'s normal business operations. It is the cash flow before any investment or financing activities. It is the cash version of net income.

For the three months ended in Dec. 2016, Comerica Inc's Net Income From Continuing Operations was $164 Mil. Its DDA was $30 Mil. Its Change In Working Capital was $-401 Mil. Its cash flow from deferred tax was $23 Mil. Its Cash Flow from Discontinued Operations was $0 Mil. Its Stock Based Compensation was $4 Mil. And its Cash Flow from Others was $276 Mil. In all, Comerica Inc's Cash Flow from Operations for the three months ended in Dec. 2016 was $96 Mil.


Definition

Cash flow from operations refers to the cash brought in through a company’'s normal business operations. It is the cash flow before any investment or financing activities. It is the cash version of net income.

Comerica Inc's Cash Flow from Operations for the fiscal year that ended in Dec. 2016 is calculated as:

Comerica Inc's Cash Flow from Operations for the quarter that ended in Dec. 2016 is

Comerica Inc Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2016 was 245 (Mar. 2016 ) + -6 (Jun. 2016 ) + 158 (Sep. 2016 ) + 96 (Dec. 2016 ) = $493 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Explanation

Cash flow from operations contains six items:

1. Net Income From Continuing Operations:
Net Income From Continuing Operations indicates the net income that a firm brings in from ongoing business activities. These activities are expected to continue into the next reporting period. It excludes extraordinary items, income from the cumulative effects of accounting changes, non-recurring items, income from tax loss carry forward, and preferred dividends.

Comerica Inc's net income from continuing operations for the three months ended in Dec. 2016 was $164 Mil.

2. Depreciation, Depletion and Amortization:
Depreciation is a present expense that accounts for the past cost of an asset that is now providing benefits.
Depletion and amortization are synonyms for depreciation.
Generally:
• The term “depreciation” is used when discussing man made tangible assets
• The term “depletion” is used when discussing natural tangible assets
• The term “amortization” is used when discussing intangible assets

Comerica Inc's depreciation, depletion and amortization for the three months ended in Dec. 2016 was $30 Mil.

3. Change In Working Capital:
Working Capital is a measure of a company's short term liquidity or its ability to cover short term liabilities. It is defined as the difference between a company's current assets and current liabilities. Changes in Working Capital is reported in the cash flow statement since it is one of the major ways in which net income can differ from operating cash flow.

Comerica Inc's change in working capital for the three months ended in Dec. 2016 was $-401 Mil. It means Comerica Inc's working capital declined by $401 Mil from Sep. 2016 to Dec. 2016 .

4. Deferred Tax:
It is the cash flow generated from deferred tax.

Comerica Inc's cash flow from deferred tax for the three months ended in Dec. 2016 was $23 Mil.

5. Cash Flow from Discontinued Operations:
Cash received by a company that comes from the sale of part of business.

Comerica Inc's cash flow from discontinued operations for the three months ended in Dec. 2016 was $0 Mil.

6. Stock Based Compensation:
It is a way corporations use stock options to reward employees. It provides executives and employees the opportunity to share in the growth of the company and, if structured properly, can align their interests with the interests of the company's shareholders and investors, without burning the company's cash on hand.

Comerica Inc's stock based compensation for the three months ended in Dec. 2016 was $4 Mil.

7. Cash Flow from Others:
These are cash differences caused by the change of inventory, accounts payable, accounts receivable etc. For instance, if a company pays its suppliers slower, its cash position will build up faster. If a company receives payments from its customers slower, its account receivables will rise, and its cash position will grow more slowly (or even shrink).

Comerica Inc's cash flow from others for the three months ended in Dec. 2016 was $276 Mil.


Related Terms

Net Income From Continuing Operations, Depreciation, Depletion and Amortization, Change In Working Capital, Cash Flow from Discontinued Operations, Stock Based Compensation, Cash Flow from Others, Cash Flow from Investing


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Comerica Inc Annual Data

Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14Dec15Dec16
NetIncomeFromContinuingOperations 68221216260393521541593521477
CF_DDA 96114122124122133122123118121
ChangeInWorkingCapital 37-131-22969-16-28149-24858-338
CF_DeferredTax -53-99-112-20279158-20130-71-51
Cash Flow from Disc. Op. 0000000000
Stock Based Compensation 59513232373735383834
Cash Flow from Others 1937152621,0031811241093198250
Cash Flow from Operations 1,014862911,286796692836639862493

Comerica Inc Quarterly Data

Sep14Dec14Mar15Jun15Sep15Dec15Mar16Jun16Sep16Dec16
NetIncomeFromContinuingOperations 15414913413513611660104149164
CF_DDA 31313030302830293230
ChangeInWorkingCapital -18-203-37-50813762730-401
CF_DeferredTax 20123-21-4-27-19-39-13-2223
Cash Flow from Disc. Op. 0000000000
Stock Based Compensation 971685920554
Cash Flow from Others 23-33216-63117-72168-158-36276
Cash Flow from Operations 2197433856269199245-615896
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
FEEDBACK