SunTrust 2006 Annual Report Download - page 140

Download and view the complete annual report

Please find page 140 of the 2006 SunTrust annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 159

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159

SUNTRUST BANKS, INC.
Notes to Consolidated Financial Statements (Continued)
Note 23 - Accumulated Other Comprehensive Income
(Dollars in thousands)
Pre-tax
Amount
Income Tax
(Expense)
Benefit
After-tax
Amount
Accumulated Other Comprehensive Income
Accumulated other comprehensive income, January 1, 2004 $2,560,142 ($896,050) $1,664,092
Unrealized net loss on securities (711,945) 249,181 (462,764)
Unrealized net gain on derivatives 14,417 (5,046) 9,371
Change related to employee benefit plans (3,785) 1,325 (2,460)
Reclassification adjustment for realized gains and losses on securities 103,725 (36,304) 67,421
Reclassification adjustment for realized gains and losses on derivatives 1,985 (695) 1,290
Accumulated other comprehensive income, December 31, 2004 1,964,539 (687,589) 1,276,950
Unrealized net loss on securities (578,962) 220,006 (358,956)
Unrealized net loss on derivatives (24,253) 9,216 (15,037)
Change related to employee benefit plans 6,561 (2,493) 4,068
Reclassification adjustment for realized gains and losses on securities 43,183 (16,410) 26,773
Reclassification adjustment for realized gains and losses on derivatives 6,924 (2,631) 4,293
Accumulated other comprehensive income, December 31, 2005 1,417,992 (479,901) 938,091
Unrealized net gain on securities 472,961 (179,725) 293,236
Unrealized net gain on derivatives 52,674 (20,016) 32,658
Change related to employee benefit plans 9,482 (3,603) 5,879
Adoption of SFAS No. 158 (621,011) 235,984 (385,027)
Reclassification adjustment for realized gains and losses on securities 60,541 (23,006) 37,535
Reclassification adjustment for realized gains and losses on derivatives 5,770 (2,193) 3,577
Accumulated other comprehensive income, December 31, 2006 $1,398,409 ($472,460) $925,949
The components of accumulated other comprehensive income at December 31 were as follows:
(Dollars in thousands) 2006 2005 2004
Unrealized gain on available for sale securities $1,302,588 $971,817 $1,304,000
Unrealized gain/(loss) on derivative financial instruments 18,896 (17,339) (6,595)
Employee benefit plans (395,535) (16,387) (20,455)
Total accumulated other comprehensive income $925,949 $938,091 $1,276,950
Note 24 - Other Noninterest Expense
Other noninterest expense in the Consolidated Statements of Income includes:
Twelve Months Ended December 31
(Dollars in thousands) 2006 2005 2004
Consulting and legal $112,983 $112,625 $81,035
Credit and collection services 101,610 84,895 66,694
Postage and delivery 92,731 85,399 69,810
Other staff expense 92,513 90,074 66,005
Communications 72,882 79,245 67,190
Operating supplies 54,034 53,175 46,802
FDIC premiums 22,569 23,083 19,503
Other real estate expense/(income) 170 (1,196) (1,799)
Other expense 391,992 381,406 339,828
Total other noninterest expense $941,484 $908,706 $755,068
127