SunTrust 2015 Annual Report Download - page 184
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Notes to Consolidated Financial Statements, continued
156
NOTE 22 - PARENT COMPANY FINANCIAL INFORMATION
Statements of Income - Parent Company Only
Year Ended December 31
(Dollars in millions) 2015 2014 2013
Income
Dividends 1$1,159 $1,057 $1,200
Interest from loans to subsidiaries 87 10
Trading (losses)/gains (1) 10 16
Gain on sale of subsidiary —105 —
Other income 15 13 7
Total income 1,181 1,192 1,233
Expense
Interest on short-term borrowings 17 12
Interest on long-term debt 128 122 96
Employee compensation and benefits 269 42 24
Service fees to subsidiaries 610 3
Other expense 21 11 (113) 3
Total expense 225 192 22
Income before income tax benefit and equity in undistributed income of subsidiaries 956 1,000 1,211
Income tax benefit 61 2 8
Income before equity in undistributed income of subsidiaries 1,017 1,002 1,219
Equity in undistributed income of subsidiaries 916 772 125
Net income $1,933 $1,774 $1,344
Preferred dividends ($64) ($42) ($37)
Dividends and undistributed earnings allocated to unvested shares (6) (10) (10)
Net income available to common shareholders $1,863 $1,722 $1,297
1 Substantially all dividend income is from subsidiaries.
2 Includes incentive compensation allocations between the Parent Company and subsidiaries.
3 Includes the transfer to STM of certain mortgage-related legal expenses recorded at the Parent Company in prior years.