eTrade 2007 Annual Report Download - page 143
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Financial information for the Company’s reportable segments is presented in the following tables (dollars in
thousands):
Year Ended December 31, 2007
Retail Institutional Eliminations(1) Total
Revenue:
Operating interest income $ 2,012,446 $ 2,924,017 $(1,366,752) $ 3,569,711
Operating interest expense (1,025,789) (2,301,619) 1,366,752 (1,960,656)
Net operating interest income 986,657 622,398 — 1,609,055
Provision for loan losses — (640,078) — (640,078)
Net operating interest income (expense) after
provision for loan losses 986,657 (17,680) — 968,977
Commission 546,228 147,882 — 694,110
Fees and service charges 240,881 26,928 (9,734) 258,075
Principal transactions — 103,229 — 103,229
Gain (loss) on loans and securities, net 10,609 (2,460,645) — (2,450,036)
Other revenue 40,725 7,287 (534) 47,478
Total non-interest income (expense) 838,443 (2,175,319) (10,268) (1,347,144)
Total net revenue 1,825,100 (2,192,999) (10,268) (378,167)
Expense excluding interest:
Compensation and benefits 316,097 149,370 — 465,467
Clearing and servicing 91,075 205,337 (10,268) 286,144
Advertising and market development 146,224 3,349 — 149,573
Communications 94,056 13,470 — 107,526
Professional services 70,198 36,493 — 106,691
Depreciation and amortization 64,114 21,257 — 85,371
Occupancy and equipment 82,921 10,268 — 93,189
Amortization of other intangibles 37,897 2,575 — 40,472
Impairment of goodwill — 101,208 — 101,208
Facility restructuring and other exit activities 11,898 21,328 — 33,226
Other 121,360 86,209 — 207,569
Total expense excluding interest 1,035,840 650,864 (10,268) 1,676,436
Segment income (loss) $ 789,260 $(2,843,863) $ — $(2,054,603)
(1) Reflects elimination of transactions between retail and institutional segments, which includes deposit and free credit transfer pricing and
order flow rebates.
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