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)

12/31/2019
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 investments1,2283,518456474239183311
Cash and cash equivalents1,228496456474239183311
Short-term investments 3,022     
Disposal group, including discontinued operation     9 
Total current assets:1,2283,518456474239192311
Noncurrent Assets
Operating lease, right-of-use asset119
Property, plant and equipment5331231271451069775
Long-term investments and receivables 1317112  
Long-term investments 1317112  
Intangible assets, net (including goodwill)1,4681,1631,1691,174325213134
Goodwill1,3001,1351,1351,134287180120
Intangible assets, net (excluding goodwill)168293440383313
Total noncurrent assets:2,1201,3001,3131,330434311209
Other undisclosed assets43,30316,68117,51215,5518,5166,8195,665
TOTAL ASSETS:46,65221,49819,28117,3559,1897,3226,185
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt2,6692,4182,4151,168415389327
Total current liabilities:2,6692,4182,4151,168415389327
Noncurrent Liabilities
Long-term debt and lease obligation, including:2,354      
Operating lease, liability101
Other undisclosed long-term debt and lease obligation2,254      
Liabilities, other than long-term debt131      
Qualified affordable housing project investments, commitment131    
Total noncurrent liabilities:2,486      
Other undisclosed liabilities35,76916,24414,19713,6067,7586,1365,161
Total liabilities:40,92418,66216,61214,7748,1736,5255,488
Stockholders' equity
Stockholders' equity attributable to parent, including:5,7072,8362,6692,5821,016797697
Preferred stock169      
Common stock153717171383330
Additional paid in capital3,4622,2102,2042,211725565488
Accumulated other comprehensive income (loss)54(61)(25)(40)(29)(32)(21)
Retained earnings1,896616419340282232199
Other undisclosed stockholders' equity attributable to parent(28)      
Stockholders' equity attributable to noncontrolling interest20      
Total stockholders' equity:5,7272,8362,6692,5821,016797697
TOTAL LIABILITIES AND EQUITY:46,65221,49819,28117,3559,1897,3226,185

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues466776718493366290 
Operating lease, lease income101
Net investment income1,567776632410292227 
Financial services revenue86837463 
Cost of revenue(65)(31)(23)(15)(7) (11)
Provision for loan, lease, and other losses(65)(31)
Financial services costs(23)(15)(7) (11)
Gross profit:400745695478359290(11)
Operating expenses(417)(32)(273)(269)(170)(162)(123)
Operating income (loss):(16)714422210189128(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(298)(144)(75)(29)(18)(15)(17)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes672(244)(91)(40)(49)(26)229
Income from continuing operations before income taxes:3573262561501249081
Income tax expense(50)(42)(107)(42)(37)(28)(24)
Net income:307284150108876257
Net loss attributable to noncontrolling interest(11)      
Net income attributable to parent:295284150108876257
Preferred stock dividends and other adjustments(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:285284149108876257

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:307284150108876257
Other comprehensive income (loss)87(35)19(11)3(12)11
Comprehensive income:39424916997905067
Comprehensive loss, net of tax, attributable to noncontrolling interest(11)      
Comprehensive income, net of tax, attributable to parent:38324916997905067

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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