SunTrust 2013 Annual Report Download - page 221
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Notes to Consolidated Financial Statements, continued
205
NOTE 22 - SUNTRUST BANKS, INC. (PARENT COMPANY ONLY) FINANCIAL INFORMATION
Statements of Income - Parent Company Only
Year Ended December 31
(Dollars in millions) 2013 2012 2011
Income
Dividends1$1,200 $27 $29
Interest on loans 10 36 11
Trading income 16 18 53
Other income 723 132
Total income 1,233 104 225
Expense
Interest on short-term borrowings 12 13 9
Interest on long-term debt 96 177 226
Employee compensation and benefits224 111 (7)
Service fees to subsidiaries 3311
Other expense (113) 343 133
Total expense 22 347 372
Income/(loss) before income tax benefit and equity in undistributed
income of subsidiaries 1,211 (243) (147)
Income tax benefit 891 49
Income/(loss) before equity in undistributed income of subsidiaries 1,219 (152) (98)
Equity in undistributed income of subsidiaries 125 2,110 745
Net income 1,344 1,958 647
Preferred dividends (37) (12) (7)
Dividends and accretion of discount on preferred stock issued to the
U.S. Treasury —— (66)
Accelerated accretion associated with repurchase of preferred stock
issued to the U.S. Treasury —— (74)
Dividends and undistributed earnings allocated to unvested shares (10) (15) (5)
Net income available to common shareholders $1,297 $1,931 $495
1 Substantially all dividend income received from subsidiaries.
2 Includes incentive compensation allocations between the Parent Company and subsidiaries.
3 Includes the transfer to STM of certain mortgage legal-related expenses recorded at the Parent Company in prior years.