SunTrust 2007 Annual Report Download - page 83

Download and view the complete annual report

Please find page 83 of the 2007 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 168

  • 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
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168

Table 22 – Reconcilement of Non-US GAAP Measures – Quarterly
Three Months Ended
2007 2006
(Dollars in millions, except per share and other data) December 31 September 30 June 30 March 31 December 31 September 30 June 30 March 31
Net income $11.1 $420.2 $681.4 $521.3 $506.3 $535.6 $544.0 $531.5
Securities losses/(gains), net of tax (3.5) (0.6) (146.6) - (21.9) 56.9 (3.6) (0.1)
Net income excluding net securities gains and losses 7.6 419.6 534.8 521.3 484.4 592.5 540.4 531.4
The Coca-Cola Company dividend, net of tax (13.2) (13.2) (13.2) (14.6) (13.3) (13.3) (13.3) (13.3)
Net income excluding net securities gains and losses
and The Coca-Cola Company dividend, net of tax (5.6) 406.4 521.6 506.7 471.1 579.2 527.1 518.1
Preferred stock dividends 7.9 7.6 7.5 7.4 7.7 - - -
Net income/(loss) available to common shareholders
excluding net securities (gains)/losses and The
Coca-Cola Company dividend, net of tax ($13.5) $398.8 $514.1 $499.3 $463.4 $579.2 $527.1 $518.1
Efficiency ratio 82.19 % 63.35 % 52.69 % 59.79 % 59.67 % 59.30 % 58.78 % 59.80 %
Impact of excluding amortization of intangible assets (1.33) (1.22) (1.05) (1.14) (1.18) (1.27) (1.25) (1.33)
Tangible efficiency ratio 80.86 % 62.13 % 51.64 % 58.65 % 58.49 % 58.03 % 57.53 % 58.47 %
Total average assets $175,130.5 $174,653.4 $179,996.5 $181,506.4 $182,343.3 $180,500.9 $180,744.1 $177,618.3
Average net unrealized securities gains (2,408.6) (2,091.9) (2,398.7) (2,305.3) (1,965.4) (1,374.6) (1,528.0) (1,612.8)
Average assets less net unrealized securities gains $172,721.9 $172,561.5 $177,597.8 $179,201.1 $180,377.9 $179,126.3 $179,216.1 $176,005.5
Total average common shareholders’ equity $17,532.8 $17,050.2 $17,428.1 $17,220.4 $17,655.5 $17,558.6 $17,304.4 $17,051.8
Average accumulated other comprehensive income (1,292.8) (998.6) (1,206.5) (1,074.5) (1,202.0) (821.3) (915.9) (963.7)
Total average realized common shareholders’ equity $16,240.0 $16,051.6 $16,221.6 $16,145.9 $16,453.5 $16,737.3 $16,388.5 $16,088.1
Return on average total assets 0.03 % 0.95 % 1.52 % 1.16 % 1.10 % 1.18 % 1.21 % 1.21 %
Impact of excluding net realized and unrealized
securities gains/losses and The Coca-Cola
Company dividend (0.04) (0.02) (0.34) (0.01) (0.06) 0.10 (0.03) (0.02)
Return on average total assets less net realized and
unrealized securities gains/losses and The Coca-
Cola Company dividend1(0.01)% 0.93 % 1.18 % 1.15 % 1.04 % 1.28 % 1.18 % 1.19 %
Return on average common shareholders’ equity 0.07 % 9.60 % 15.51 % 12.10 % 11.20 % 12.10 % 12.61 % 12.64 %
Impact of excluding net realized and unrealized
securities gains/losses and The Coca-Cola
Company dividend (0.40) 0.26 (2.80) 0.44 (0.03) 1.63 0.29 0.42
Return on average realized common shareholders’
equity2(0.33)% 9.86 % 12.71 % 12.54 % 11.17 % 13.73 % 12.90 % 13.06 %
Total shareholders’ equity $18,052.5 $17,907.2 $17,368.9 $17,968.5 $17,813.6 $18,589.3 $17,423.9 $17,157.4
Goodwill (6,921.4) (6,912.1) (6,897.1) (6,896.7) (6,889.8) (6,903.0) (6,900.2) (6,897.1)
Other intangible assets including mortgage servicing
rights (“MSRs”) (1,363.0) (1,327.1) (1,290.5) (1,293.5) (1,182.0) (1,120.1) (1,141.3) (1,123.5)
MSRs 1,049.4 996.0 942.0 921.3 810.5 724.3 720.4 680.8
Tangible equity $10,817.5 $10,664.0 $10,123.3 $10,699.6 $10,552.3 $11,290.5 $10,102.8 $9,817.6
Total assets $179,573.9 $175,857.2 $180,314.4 $186,384.8 $182,161.6 $183,104.6 $181,143.4 $178,876.5
Goodwill (6,921.4) (6,912.1) (6,897.1) (6,896.7) (6,889.8) (6,903.0) (6,900.2) (6,897.1)
Other intangible assets including MSRs (1,363.0) (1,327.1) (1,290.5) (1,293.5) (1,182.0) (1,120.1) (1,141.3) (1,123.5)
Mortgage servicing rights 1,049.4 996.0 942.0 921.3 810.5 724.3 720.4 680.8
Tangible assets $172,338.9 $168,614.0 $173,068.8 $179,115.9 $174,900.3 $175,805.8 $173,822.3 $171,536.7
Tangible equity to tangible assets 6.28 % 6.32 % 5.85 % 5.97 % 6.03 % 6.42 % 5.81 % 5.72 %
Net interest income $1,167.5 $1,192.2 $1,195.3 $1,164.6 $1,161.3 $1,151.4 $1,168.8 $1,179.0
Taxable - equivalent adjustment 27.3 27.0 24.7 23.7 23.9 22.5 21.2 20.4
Net interest income - FTE 1,194.8 1,219.2 1,220.0 1,188.3 1,185.2 1,173.9 1,190.0 1,199.4
Noninterest income 576.0 819.1 1,154.6 878.9 882.6 858.9 875.4 851.5
Total revenue - FTE $1,770.8 $2,038.3 $2,374.6 $2,067.2 $2,067.8 $2,032.8 $2,065.4 $2,050.9
1Computed by dividing annualized net income excluding net securities gains/losses and The Coca-Cola Company dividend, by average assets less net unrealized securities gains.
2Computed by dividing annualized net income available to common shareholders excluding net securities gains/losses and The Coca-Cola Company dividend, by average realized common shareholders’ equity.
71