SunTrust 2012 Annual Report Download - page 213
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Notes to Consolidated Financial Statements (Continued)
197
NOTE 23 - SUNTRUST BANKS, INC. (PARENT COMPANY ONLY) FINANCIAL INFORMATION
Statements of Income - Parent Company Only
Year Ended December 31
(Dollars in millions) 2012 2011 2010
Income
Dividends1$27 $29 $28
Interest on loans 36 11 2
Trading income 18 53 44
Other income 23 132 165
Total income 104 225 239
Expense
Interest on short-term borrowings 13 9 9
Interest on long-term debt 177 226 228
Employee compensation and benefits2111 (7) (13)
Service fees to subsidiaries 311 2
Other expense 43 133 21
Total expense 347 372 247
Loss before income tax benefit and equity in undistributed income of
subsidiaries (243) (147) (8)
Income tax benefit 91 49 12
(Loss)/income before equity in undistributed income of subsidiaries (152) (98) 4
Equity in undistributed income of subsidiaries 2,110 745 185
Net income 1,958 647 189
Preferred dividends (12) (7) (7)
Dividends and accretion of discount on preferred stock issued to the
U.S. Treasury —(66) (267)
Accelerated accretion associated with repurchase of preferred stock
issued to the U.S. Treasury —(74) —
Dividends and undistributed earnings allocated to unvested shares (15) (5) (2)
Net income/(loss) available to common shareholders $1,931 $495 ($87)
1 Substantially all dividend income received from subsidiaries.
2 Includes incentive compensation allocations between Parent Company and subsidiaries.