SunTrust 2007 Annual Report Download - page 6

฀฀ Year Ended December 31
(Dollars in millions, except per share data) 2007 2006 2005
FOR THE YEAR
Net income $1,634.0 $2,117.5 $1,987.2
Net income available to common shareholders 1,603.7 2,109.7 1,987.2
Total revenue - FTE 1 8,250.9 8,216.8 7,809.5
Common dividends paid 1,026.6 879.6 795.0
PER COMMON SHARE
Net income - diluted $4.55 $5.82 $5.47
Dividends declared 2.92 2.44 2.20
Common stock closing price 62.49 84.45 72.76
Book value 50.38 48.78 46.65
FINANCIAL RATIOS
Return on average total assets 0.92% 1.17% 1.18%
Return on average assets less net
unrealized securities gains 2 0.81 1.17 1.17
Return on average common shareholders’ equity 9.27 12.13 12.02
Return on average realized common shareholders’ equity 2 8.65 12.72 12.70
Net interest margin 3 3.11 3.00 3.17
Efciency ratio 3 63.43 59.39 60.06
Tier 1 capital ratio 6.93 7.72 7.01
Total capital ratio 10.30 11.11 10.57
SELECTED AVERAGE BALANCES
Total assets $177,795.5 $180,315.1 $168,088.8
Earning assets 155,204.4 158,428.7 146,639.8
Loans 120,080.6 119,645.2 108,742.0
Deposits 119,876.6 123,665.5 110,406.5
Total shareholders’ equity 17,808.0 17,546.7 16,526.3
Common shares - diluted (thousands) 352,688 362,802 363,454
AS OF DECEMBER 31
Total assets $179,573.9 $182,161.6 $179,712.8
Earning assets 154,397.2 159,063.8 156,640.9
Loans 122,319.0 121,454.3 114,554.9
Allowance for loan and lease losses 1,282.5 1,044.5 1,028.1
Deposits 117,842.7 124,021.6 122,053.2
Total shareholders’ equity 18,052.5 17,813.6 16,887.4
Common shares outstanding (thousands) 348,411 354,903 361,984
Market value of investment in common stock of
The Coca-Cola Company $2,674 $2,325 $1,946
1 Total revenue is comprised of net interest income (fully taxable-equivalent, or “FTE”) and noninterest income.
2 In this report, SunTrust presents a return on average assets less net unrealized securities gains and return on average realized equity which exclude realized
and unrealized securities gains/losses and dividends from The Coca-Cola Company. The foregoing numbers primarily reflect adjustments to remove
the effects of the ownership by the Company of 43.6 million shares of The Coca-Cola Company. The Company uses this information internally to gauge
its actual performance in the industry. The Company believes that the return on average assets less the net unrealized securities gains is more indicative of
the Company’s return on assets because it more accurately reects the return on assets that are related to the Company’s core businesses. The Company
also believes that the return on average realized equity is more indicative of the Company’s return on equity because the excluded equity relates primarily
to a long-term holding of a specic security. The Company provides reconcilements of all non-US GAAP measures in Tables 21 and 22 of Management’s
Discussion and Analysis.
3 The net interest margin and efciency ratios are presented on a fully taxable-equivalent (FTE) basis. The FTE basis adjusts for the tax-favored status of
income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and it
enhances comparability of net interest income arising from taxable and tax-exempt sources.
Financial Highlights
4 SUNTRUST 2007 ANNUAL REPORT