eTrade 2006 Annual Report Download - page 140
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Year Ended December 31, 2005
Retail Institutional Eliminations(1) Total
Revenue:
Operating interest income $ 685,067 $1,395,769 $(430,572) $1,650,264
Operating interest expense (239,943) (969,631) 430,410 (779,164)
Net operating interest income 445,124 426,138 (162) 871,100
Provision for loan losses — (54,016) — (54,016)
Net operating interest income after provision
for loan losses 445,124 372,122 (162) 817,084
Commission 339,654 119,180 — 458,834
Service charges and fees 116,102 19,212 — 135,314
Principal transactions — 99,175 161 99,336
Gain on sales of loans and securities, net 63,705 35,153 — 98,858
Other revenue 112,836 10,383 (28,800) 94,419
Total non-interest income 632,297 283,103 (28,639) 886,761
Total net revenue 1,077,421 655,225 (28,801) 1,703,845
Expense excluding interest:
Compensation and benefits 232,494 148,309 — 380,803
Clearing and servicing 47,618 170,919 (28,801) 189,736
Advertising and market development 96,918 9,017 — 105,935
Communications 71,693 10,792 — 82,485
Professional services 56,238 21,178 — 77,416
Depreciation and amortization 60,604 14,377 — 74,981
Occupancy and equipment 57,869 11,220 — 69,089
Amortization of other intangibles 13,894 29,871 — 43,765
Facility restructuring and other exit activities (32,754) 2,737 — (30,017)
Other 14,090 45,770 — 59,860
Total expense excluding interest 618,664 464,190 (28,801) 1,054,053
Segment income $ 458,757 $ 191,035 $ — $ 649,792
(1) Reflects elimination of transactions between retail and institutional segments, which includes deposit transfer pricing, servicing and order
flow rebates.
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