SunTrust 2009 Annual Report Download - page 172

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SUNTRUST BANKS, INC.
Notes to Consolidated Financial Statements (Continued)
Note 25 - SunTrust Banks, Inc. (Parent Company Only) Financial Information
Statements of Income/(Loss) - Parent Company Only
Twelve Months Ended December 31
(Dollars in thousands) 2009 2008 2007
Income
From subsidiaries:
Dividends $14,000 $1,068,001 $1,896,976
Interest on loans 3,358 25,754 33,699
Trading account losses and commissions (1,868) (71,648) (242,780)
Other income 61,505 270,631 135,251
Total income 76,995 1,292,738 1,823,146
Expense
Interest on short-term borrowings 8,138 33,840 67,013
Interest on long-term debt 272,458 308,560 273,993
Employee compensation and benefits (45,632) (3,099) 4,116
Service fees to subsidiaries 15,224 12,382 18,880
Other expense 35,440 5,252 22,051
Total expense 285,628 356,935 386,053
Income/(loss) before income taxes and equity in undistributed income/(loss) of subsidiaries (208,633) 935,803 1,437,093
Income tax benefit 96,947 39,984 131,494
Income/(loss) before equity in undistributed income/(loss) of subsidiaries (111,686) 975,787 1,568,587
Equity in undistributed income/(loss) of subsidiaries (1,451,997) (180,013) 65,428
Net income/(loss) (1,563,683) 795,774 1,634,015
Series A preferred dividends (14,143) (22,255) (30,275)
U.S. Treasury preferred dividends and accretion of discount (265,786) (26,579) -
Gain on repurchase of Series A preferred stock 94,318 --
Dividends and undistributed earnings allocated to unvested shares 15,917 (5,958) (10,786)
Net income/(loss) available to common shareholders ($1,733,377) $740,982 $1,592,954
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