eTrade 2002 Annual Report Download - page 127
Download and view the complete annual report
Please find page 127 of the 2002 eTrade annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117 -
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
 |
 |
Table of Contents
Index to Financial Statements
The table below presents impaired loans (in thousands):
Total Recorded Investmentin
Impaired Loans Amount of Specific
Allowance Amount of Recorded InvestmentNet of
Specific Allowance
December 31, 2002:
Impaired loans:
Secured by one-to four-family
residences
$ 3,429 $ (166 )
$ 3,263
December 31, 2001:
Impaired loans:
Secured by one-to four-family
residences
$ 1,850 $ (75 )
$ 1,775
The average recorded investment in impaired loans was $2.6 million for fiscal 2002 and $1.9 million for fiscal 2001.
7. INVESTMENTS
Investments are comprised of trading and available-for-sale debt and equity securities, as defined under the provisions of SFAS No. 115,
Accounting for Certain Investments in Debt and Equity Securities . Also included are investments in entities in which the Company owns
between 20% and 50%, or in which there are other indicators of significant influence. These investments are generally accounted for using the
equity method. Investments in securities in which there is a less than 20% ownership are generally carried at cost.
The carrying amounts of investments are shown below (in thousands):
December31,
2002 2001
Trading securities $ 396,579 $ 87,392
Available-for-sale investment securities:
Corporate bonds 352,590 871,510
Municipal bonds 32,561 66,990
Asset-backed securities 737,582 —
U.S. Government agency obligations — 11,874
Other debt securities and money market funds 1,278 24,503
Publicly-traded equity securities 136,661 23,610
Equity method and other investments:
Joint ventures 61,451 28,664
Venture capital funds 18,613 17,553
Other investments 33,132 36,527
Total investments $ 1,770,447 $ 1,168,623
Trading securities
The Company recognized realized gains (losses) from the sale of trading securities of $3.9 million related to its banking activities and $94.4
million related to its brokerage activities for fiscal 2002, $20.3 million related to its banking activities and $(3.7) million related to its brokerage
activities for fiscal 2001, $2.1 million related to its banking activities, and $(0.1) million related to its brokerage activities for the three months
ended December31, 2000 and $0.8 million related to its banking activities and $3.3 million related to its brokerage activities for fiscal 2000.
The Company recognized unrealized appreciation (depreciation) of trading securities of $(0.9) million related to its banking activities and
($0.1) million relating to its brokerage activities in fiscal 2002,
2003. EDGAR Online, Inc.