eTrade 2001 Annual Report Download - page 109
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Unearned Employee Stock Ownership Plan shares — (1,560 )
Shareowners’ notes receivable (32,707 ) (19,103 )
Deferred stock compensation (28,110 ) —
Accumulated deficit (247,087 ) (6,908 )
Accumulated other comprehensive income (loss) (197,377 ) 66,722
Total shareowners’ equity 1,570,914 1,856,833
Total liabilities and shareowners’ equity $ 18,172,414 $ 17,317,437
See notes to consolidated financial statements
94
Table of Contents
E*TRADE GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
Year Ended
December31, 2001
ThreeMonths Ended
December31, 2000 Year Ended
September30, 2000 Year Ended
September30, 1999
Revenues:
Transaction revenues $ 407,161 $ 153,405 $ 739,078 $ 355,830
Interest income 1,159,871 337,890 960,358 369,074
Global and institutional 152,822 37,454 166,061 124,233
Gains on sales of originated loans 95,478 — — —
Gains on bank loans held for sale and other securities—net 75,836 7,583 8,491 6,255
Other 170,947 32,700 99,195 34,291
Gross revenues 2,062,115 569,032 1,973,183 889,683
Interest expense (779,275 )
(233,619 )
(600,862 )
(215,452 )
Provision for loan losses (7,476 )
(1,647 )
(4,003 )
(2,783 )
Net revenues 1,275,364 333,766 1,368,318 671,448
Cost of services 595,590 133,260 515,571 302,342
Operating expenses:
Selling and marketing 253,422 97,940 521,532 325,449
Technology development 88,717 29,161 142,914 79,935
General and administrative 236,353 57,901 209,436 102,826
Amortization of goodwill and other intangibles 43,091 7,811 22,764 2,915
Acquisition-related expenses 11,174 784 36,427 7,174
Facility restructuring and other nonrecurring charges 202,765 — — —
Executive loan settlement 30,210 — — —
2002. EDGAR Online, Inc.