SunTrust 2014 Annual Report Download - page 186
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Notes to Consolidated Financial Statements, continued
163
NOTE 22 - SUNTRUST BANKS, INC. (PARENT COMPANY ONLY) FINANCIAL INFORMATION
Statements of Income - Parent Company Only
Year Ended December 31
(Dollars in millions) 2014 2013 2012
Income
Dividends 1$1,057 $1,200 $27
Interest on loans 710 36
Trading income 10 16 18
Gain on sale of subsidiary 105 — —
Other income 13 7 23
Total income 1,192 1,233 104
Expense
Interest on short-term borrowings 712 13
Interest on long-term debt 122 96 177
Employee compensation and benefits 242 24 111
Service fees to subsidiaries 10 3 3
Other expense 11 (113) 343
Total expense 192 22 347
Income/(loss) before income tax benefit and equity in undistributed income of
subsidiaries 1,000 1,211 (243)
Income tax benefit 28 91
Income/(loss) before equity in undistributed income of subsidiaries 1,002 1,219 (152)
Equity in undistributed income of subsidiaries 772 125 2,110
Net income 1,774 1,344 1,958
Preferred dividends (42) (37) (12)
Dividends and undistributed earnings allocated to unvested shares (10) (10) (15)
Net income available to common shareholders $1,722 $1,297 $1,931
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.