People's United Financial, Inc. (PBCT) financial statements (2021 and earlier)

Company profile

Business Address C/O PEOPLE'S BANK
BRIDGEPORT, CT 06604
State of Incorp. DE
Fiscal Year End December 31
SIC 6035 - Savings Institutions, Federally Chartered (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 investments8,0091,1189328836147151,682
Cash and cash equivalents4,2438019328836147151,014
Short-term investments3,766317    669
Assets held-in-trust57515641403737
Disposal group, including discontinued operation      34
Total current assets:8,0661,1699889246547521,754
Noncurrent Assets
Finance lease, right-of-use asset23
Operating lease, right-of-use asset235277
Property, plant and equipment277306267253245258278
Long-term investments and receivables15161721212221
Long-term investments15161721212221
Intangible assets, net (including goodwill)2,8463,2752,8662,5602,1422,0882,103
Goodwill2,6813,0662,6862,4111,9931,9591,955
Intangible assets, net (excluding goodwill)165209180149149129148
Deferred income tax assets4634
Amortization method qualified affordable housing project investments46138430425119584
Total noncurrent assets:3,8814,2933,4543,0852,6032,4512,402
Other undisclosed assets51,14553,12843,43540,44537,35335,67531,842
TOTAL ASSETS:63,09258,59047,87744,45340,61038,87735,997
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt2,2101,5541,0451,7681,4971,550686
Total current liabilities:2,2101,5541,0451,7681,4971,550686
Noncurrent Liabilities
Liabilities, other than long-term debt1821411201009375 
Qualified affordable housing project investments, commitment1821411201009375
Total noncurrent liabilities:1821411201009375 
Other undisclosed liabilities53,09748,94840,17936,76633,87832,52130,678
Total liabilities:55,48950,64341,34338,63435,46834,14631,364
Stockholders' equity
Stockholders' equity attributable to parent7,6037,9476,5345,8205,1424,7324,633
Preferred stock244244244244244  
Common stock5554444
Treasury stock, value(1,469)(1,165)(1,162)(1,162)(1,162)(1,162)(1,162)
Additional paid in capital7,6647,6396,5496,0125,4465,3385,291
Accumulated other comprehensive loss(89)(167)(257)(182)(195)(177)(168)
Retained earnings1,3641,5131,2851,040949881827
Unearned esop shares(116)(123)(130)(137)(145)(152)(159)
Total stockholders' equity:7,6037,9476,5345,8205,1424,7324,633
TOTAL LIABILITIES AND EQUITY:63,09258,59047,87744,45340,61038,87735,997

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
Revenues1,6981,7461,4061,3801,2191,2101,242
Net investment income1,6151,6951,3711,148986946933
Financial services revenue188192221268
Cost of revenue(156)(28)(30)(26)(37)(33)(41)
Provision for loan, lease, and other losses(156)(28)(30)
Financial services costs(26)(37)(33)(41)
Gross profit:1,5431,7181,3761,3541,1821,1761,202
Operating expenses(626)(284)(246)(755)(674)(667)(741)
Other operating income, net78865159533948
Noninterest income, other operating income78865159533937
Other nonrecurring (income) expense      11
Operating income:9951,5201,181658562548508
Nonoperating income
(Investment Income, Nonoperating)
      257
Interest and debt expense(239)(469)(320)(202)(155)(137)(119)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes  (285)113(21)(266)
Income from continuing operations before equity method investments, income taxes:7561,051576467410391381
Other undisclosed loss from continuing operations before income taxes(408)(398)     
Income from continuing operations before income taxes:349652576467410391381
Income tax expense(129)(132)(108)(130)(129)(130)(129)
Net income attributable to parent:220520468337281260252
Preferred stock dividends and other adjustments(14)(14)(14)(14)(2)  
Other undisclosed net loss available to common stockholders, basic     (1)(1)
Net income available to common stockholders, diluted:206506454323279259251

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:220520468337281260252
Other comprehensive income (loss)7890(38)13(18)(9)(13)
Comprehensive income, net of tax, attributable to parent:297610430351263251239

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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