SunTrust 2010 Annual Report Download - page 204

Download and view the complete annual report

Please find page 204 of the 2010 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 220

  • 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
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220

SUNTRUST BANKS, INC.
Notes to Consolidated Financial Statements (Continued)
Twelve Months Ended December 31, 2008
(Dollars in millions)
Retail
Banking
Diversified
Commercial
Banking CRE CIB Mortgage W&IM
Corporate
Other and
Treasury
Reconciling
Items Consolidated
Average total assets $40,205 $27,289 $14,674 $22,755 $41,981 $9,009 $19,768 $167 $175,848
Average total liabilities 68,786 17,392 2,436 13,116 2,766 9,979 42,845 (68) 157,252
Average total equity -------18,596 18,596
Net interest income $2,251 $438 $244 $267 $496 $336 $154 $434 $4,620
Fully taxable-equivalent adjustment (FTE) - 96 - 3 - - 18 - 117
Net interest income (FTE)12,251 534 244 270 496 336 172 434 4,737
Provision for credit losses2851 55 112 28 491 27 (1) 911 2,474
Net interest income after provision for credit losses 1,400 479 132 242 5 309 173 (477) 2,263
Noninterest income 1,192 253 88 462 436 953 1,103 (14) 4,473
Noninterest expense 2,244 416 298 478 1,345 972 140 (14) 5,879
Income/(loss) before provision/(benefit) for
income taxes 348 316 (78) 226 (904) 290 1,136 (477) 857
Provision/(benefit) for income taxes3121 116 (106) 84 (360) 107 273 (185) 50
Net income/(loss) including income attributable to
noncontrolling interest 227 200 28 142 (544) 183 863 (292) 807
Net income attributable to noncontrolling interest ----219(1)11
Net income/(loss) $227 $200 $28 $142 ($546) $182 $854 ($291) $796
1Net interest income is fully taxable-equivalent and is presented on a matched maturity funds transfer price basis for the line of business.
2Provision for credit losses represents net charge-offs for the segments.
3Includes regular income tax provision/(benefit) and taxable-equivalent income adjustment reversal.
Note 23 - Accumulated Other Comprehensive Income
(Dollars in millions)
Pre-tax
Amount
Income Tax
(Expense)
Benefit
After-tax
Amount
AOCI
AOCI, January 1, 2008 $2,491 ($884) $1,607
Unrealized net gain on securities (238) 186 (52)
Unrealized net gain on derivatives 1,337 (535) 802
Change related to employee benefit plans (813) 305 (508)
Reclassification adjustment for realized gains and losses on securities (1,073) 319 (754)
Reclassification adjustment for realized gains and losses on derivatives (181) 67 (114)
AOCI, December 31, 2008 1,523 (542) 981
Unrealized net gain on securities 529 (188) 341
Unrealized net gain on derivatives (190) 59 (131)
Change related to employee benefit plans 394 (143) 251
Adoption of OTTI guidance (12) 4 (8)
Reclassification adjustment for realized gains and losses on securities (98) 38 (60)
Reclassification adjustment for realized gains and losses on derivatives (485) 181 (304)
AOCI, December 31, 2009 1,661 (591) 1,070
Unrealized net gain on securities 770 (283) 487
Unrealized net gain on derivatives 802 (293) 509
Change related to employee benefit plans 106 (46) 60
Reclassification adjustment for realized gains and losses on securities (191) 70 (121)
Reclassification adjustment for realized gains and losses on derivatives (617) 228 (389)
AOCI, December 31, 2010 $2,531 ($915) $1,616
188