Chemical Financial Corporation (CHFC) financial statements (2020 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)

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,3233,518456474239183311
Cash and cash equivalents1,323496456474239183311
Short-term investments 3,022     
Disposal group, including discontinued operation     9 
Total current assets:1,3233,518456474239192311
Noncurrent Assets
Operating lease, right-of-use asset114
Property, plant and equipment5541231271451069775
Long-term investments and receivables 1317112  
Long-term investments 1317112  
Intangible assets, net (including goodwill)1,4811,1631,1691,174325213134
Goodwill1,2651,1351,1351,134287180120
Intangible assets, net (excluding goodwill)216293440383313
Total noncurrent assets:2,1491,3001,3131,330434311209
Other undisclosed assets42,22016,68117,51215,5518,5166,8195,665
TOTAL ASSETS:45,69321,49819,28117,3559,1897,3226,185
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt2,6072,4182,4151,168415389327
Total current liabilities:2,6072,4182,4151,168415389327
Noncurrent Liabilities
Long-term debt and lease obligation860      
Long-term debt, excluding current maturities753      
Finance lease, liability3
Operating lease, liability105
Liabilities, other than long-term debt128      
Qualified affordable housing project investments, commitment128    
Total noncurrent liabilities:989      
Other undisclosed liabilities36,40316,24414,19713,6067,7586,1365,161
Total liabilities:39,99918,66216,61214,7748,1736,5255,488
Stockholders' equity
Stockholders' equity attributable to parent5,6702,8362,6692,5821,016797697
Preferred stock169      
Common stock154717171383330
Treasury stock, value(27)      
Additional paid in capital3,4782,2102,2042,211725565488
Accumulated other comprehensive income (loss)56(61)(25)(40)(29)(32)(21)
Retained earnings1,840616419340282232199
Stockholders' equity attributable to noncontrolling interest23      
Total stockholders' equity:5,6932,8362,6692,5821,016797697
TOTAL LIABILITIES AND EQUITY:45,69321,49819,28117,3559,1897,3226,185

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

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues700776718493366290 
Net investment income1,097776632410292227 
Financial services revenue86837463 
Cost of revenue(46)(31)(23)(15)(7) (11)
Provision for loan, lease, and other losses(46)(31)
Financial services costs(23)(15)(7) (11)
Gross profit:654745695478359290(11)
Operating expenses(226)(32)(273)(269)(170)(162)(123)
Operating income (loss):428714422210189128(134)
Nonoperating income   10123
Investment income, nonoperating   80  
Gains on sales of other real estate     23
Bank owned life insurance income   21  
Interest and debt expense(242)(144)(75)(29)(18)(15)(17)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes67(244)(91)(40)(49)(26)229
Income from continuing operations before income taxes:2533262561501249081
Income tax expense(22)(42)(107)(42)(37)(28)(24)
Net income:231284150108876257
Net loss attributable to noncontrolling interest(3)      
Net income attributable to parent:228284150108876257
Preferred stock dividends and other adjustments(2)      
Undistributed earnings (loss) allocated to participating securities, basic(0)(0)(0)
Other undisclosed net loss available to common stockholders, basic   (0)   
Net income available to common stockholders, diluted:225284149108876257

Comprehensive Income ($ in millions)

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:231284150108876257
Other comprehensive income (loss)19(35)19(11)3(12)11
Other undisclosed comprehensive loss(35)      
Comprehensive income:21424916997905067
Comprehensive loss, net of tax, attributable to noncontrolling interest(3)      
Other undisclosed comprehensive income, net of tax, attributable to parent63      
Comprehensive income, net of tax, attributable to parent:27424916997905067

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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