What does non-strategic — net income mean?

The net profit or loss from business units the company is planning to exit or discontinue.

How do you interpret non-strategic — net income?

An increase in losses or a decrease in income from this segment is generally positive as it indicates the successful wind-down or reduction of non-core operations.

How does non-strategic — net income compare across companies?

Similar to 'discontinued operations' or 'non-core segment results' reported by other financial institutions undergoing restructuring.

First Horizon FHN Non-Strategic — Net Income

Discontinued — last reported Q3 '20

Similar metrics at other companies

CFGNon-Core — Net Income

-$14M+72.5%

CFRNon-Banks — Net Income

-$3.01M+15.1%

FRHCOther — Net income from continuing operations

-$93.44M-62.6%

FNFCorporate and Other — Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest

-$40M-2,100%

WALOperating Segments — Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity

0%—

PEA

PEAKCorporate Non — Income Loss From Discontinued Operations Net Of Tax

——

Other financials

Income statement

See full

Revenue$862.0M+6.2%

Net income$262.0M+20.2%

EPS (diluted)$0.53+29.3%

Balance sheet

See full

Cash & equivalents$1.9B—

Total debt$5.5B0.0%

Total equity$9.2B+4.8%

Total assets$84.1B+3.2%

Cash flow

See full

Operating cash flow$278.0M-20.3%

CapEx$8.0M-11.1%

Free cash flow$270.0M-20.6%

Valuation

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Market cap$11.78B+8.9%

P/E11.5×-2.0×

P/S3.4×0.0×

Profitability

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Net margin29.6%+4.4pp

FCF margin30.4%—

Returns & leverage

See full

Return on equity11.5%+2.4pp

Debt / equity0.6×0.0×

Where this comes from

Reported directly by First Horizon in its filing.

Tagged under the XBRL concept us-gaap:ProfitLoss.

The official record: First Horizon’s 10-Q, filed November 5, 2020, on SEC EDGAR. View the filing →

Questions, answered.

What does non-strategic — net income mean?: The net profit or loss from business units the company is planning to exit or discontinue.
How do you interpret non-strategic — net income?: An increase in losses or a decrease in income from this segment is generally positive as it indicates the successful wind-down or reduction of non-core operations.
How does non-strategic — net income compare across companies?: Similar to 'discontinued operations' or 'non-core segment results' reported by other financial institutions undergoing restructuring.