eTrade 2004 Annual Report Download - page 67

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Table of Contents
Index to Financial Statements
E*TRADE FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(in thousands)
See accompanying notes to consolidated financial statements.
60
Year Ended December 31,
2004
2003
2002
Net income (loss)
$
380,483
$
203,027
$
(186,405
)
Other comprehensive income (loss):
Available
-
for
-
sale securities:
Unrealized gains
94,900
301,634
48,672
Less impact of realized gains (transferred out of AOCI) and included in net
income (loss)
(187,663
)
(223,086
)
(54,340
)
Tax effect
37,015
(33,552
)
2,918
Net change from available
-
for
-
sale securities
(55,748
)
44,996
(2,750
)
Cash flow hedging instruments:
Unrealized losses
(84,050
)
(15,375
)
(137,143
)
Amortization of losses into interest expense related to de-designated cash flow
hedges deferred in AOCI
95,614
121,414
67,937
Tax effect
(5,828
)
(41,513
)
29,266
Net change from cash flow hedging instruments
5,736
64,526
(39,940
)
Foreign currency translation gains (losses)
(1,210
)
31,958
8,610
Other comprehensive income (loss)
(51,222
)
141,480
(34,080
)
Comprehensive income (loss)
$
329,261
$
344,507
$
(220,485
)