eTrade 2004 Annual Report Download - page 134

Download and view the complete annual report

Please find page 134 of the 2004 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.

Page out of 150

  • 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

Table of Contents
Index to Financial Statements
Total assets for each segment are shown below:
124
Year Ended December 31, 2002
Brokerage
Banking
Total
Net revenues:
Commissions
$
294,791
$
—
$
294,791
Principal transactions
223,531
—
223,531
Interest income
182,103
767,587
949,690
Interest expense
(12,515
)
(548,659
)
(561,174
)
Gain on sales of originated loans
—
128,506
128,506
Gain on sales of loans held
-
for
-
sale and securities, net
—
80,256
80,256
Provision for loan losses
—
(
14,664
)
(14,664
)
Other revenues
174,263
12,006
186,269
Net revenues
862,173
425,032
1,287,205
Expenses excluding interest:
Compensation and benefit
224,414
96,914
321,328
Occupancy and equipment
58,491
25,260
83,751
Communications
59,816
25,832
85,648
Professional services
37,297
16,107
53,404
Commissions, clearance and floor brokerage
116,813
50,446
167,259
Advertising and market development
49,021
21,170
70,191
Servicing and other banking expenses
31,724
13,700
45,424
Fair value adjustments of financial derivatives
8,145
3,517
11,662
Depreciation and amortization
73,168
31,598
104,766
Amortization of other intangibles
13,830
8,339
22,169
Facility restructuring and other exit charges
14,814
543
15,357
Acquisition
-
related expenses
10,763
710
11,473
Executive agreement
(16,561
)
(6,924
)
(23,485
)
Other
47,606
22,372
69,978
Total expenses excluding interest
729,341
309,584
1,038,925
Segment income
$
132,832
$
115,448
$
248,280
Brokerage
Banking
Total
At December 31, 2004
$
5,506,381
$
25,526,202
$
31,032,583
At December 31, 2003
$
5,617,188
$
20,432,028
$
26,049,216