Chemical Financial Corporation (CHFC) financial statements (2021 and earlier)

Company profile

Business Address 333 W. FORT STREET
DETROIT, MI 48226
State of Incorp. MI
Fiscal Year End December 31
SIC 6021 - National Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,2611,2283,518456474239183
Cash and cash equivalents1,2611,228496456474239183
Short-term investments  3,022    
Disposal group, including discontinued operation      9
Total current assets:1,2611,2283,518456474239192
Noncurrent Assets
Operating lease, right-of-use asset107119
Property, plant and equipment47053312312714510697
Long-term investments and receivables  1317112 
Long-term investments  1317112 
Intangible assets, net (including goodwill)1,4591,4681,1631,1691,174325213
Goodwill1,3131,3001,1351,1351,134287180
Intangible assets, net (excluding goodwill)1461682934403833
Total noncurrent assets:2,0362,1201,3001,3131,330434311
Other undisclosed assets44,50643,30316,68117,51215,5518,5166,819
TOTAL ASSETS:47,80246,65221,49819,28117,3559,1897,322
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt6172,6692,4182,4151,168415389
Total current liabilities:6172,6692,4182,4151,168415389
Noncurrent Liabilities
Long-term debt and lease obligation, including:1,3752,354     
Long-term debt, excluding current maturities586      
Operating lease, liability 101
Other undisclosed long-term debt and lease obligation7892,254     
Liabilities, other than long-term debt107131     
Qualified affordable housing project investments, commitment107131    
Total noncurrent liabilities:1,4822,486     
Other undisclosed liabilities40,01435,76916,24414,19713,6067,7586,136
Total liabilities:42,11340,92418,66216,61214,7748,1736,525
Stockholders' equity
Stockholders' equity attributable to parent, including:5,6715,7072,8362,6692,5821,016797
Preferred stock169169     
Common stock1531537171713833
Treasury stock, value(27)      
Additional paid in capital3,4583,4622,2102,2042,211725565
Accumulated other comprehensive income (loss)18354(61)(25)(40)(29)(32)
Retained earnings1,7351,896616419340282232
Other undisclosed stockholders' equity attributable to parent (28)     
Stockholders' equity attributable to noncontrolling interest1820     
Total stockholders' equity:5,6895,7272,8362,6692,5821,016797
TOTAL LIABILITIES AND EQUITY:47,80246,65221,49819,28117,3559,1897,322

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues1,766466776718493366290
Operating lease, lease income 101
Net investment income1,7661,567776632410292227
Financial services revenue86837463
Cost of revenue(257)(65)(31)(23)(15)(7) 
Provision for loan, lease, and other losses(257)(65)(31)
Financial services costs(23)(15)(7) 
Gross profit:1,509400745695478359290
Operating expenses(466)(417)(32)(273)(269)(170)(162)
Operating income (loss):1,043(16)714422210189128
Nonoperating income (expense)(18)   1012
Investment income, nonoperating    80 
Gains on sales of other real estate      2
Bank owned life insurance income    21 
Mortgage servicing rights (msr) impairment (recovery)(18)      
Interest and debt expense(227)(298)(144)(75)(29)(18)(15)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(528)672(244)(91)(40)(49)(26)
Income from continuing operations before income taxes:27035732625615012490
Income tax expense(40)(50)(42)(107)(42)(37)(28)
Net income:2303072841501088762
Net loss attributable to noncontrolling interest(7)(11)     
Net income attributable to parent:2232952841501088762
Preferred stock dividends and other adjustments(10)(10)     
Undistributed earnings (loss) allocated to participating securities, basic  (0)(0)
Other undisclosed net loss available to common stockholders, basic    (0)  
Net income available to common stockholders, diluted:2132852841491088762

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:2303072841501088762
Other comprehensive income (loss)12887(35)19(11)3(12)
Comprehensive income:358394249169979050
Comprehensive loss, net of tax, attributable to noncontrolling interest(7)(11)     
Comprehensive income, net of tax, attributable to parent:351383249169979050

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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