eTrade 2010 Annual Report Download - page 169
Download and view the complete annual report
Please find page 169 of the 2010 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
 |
 |
The Company evaluates the performance of its segments based on segment income (loss). Financial
information for the Company’s reportable segments is presented in the following tables (dollars in thousands):
Year Ended December 31, 2010
Trading and
Investing
Balance Sheet
Management
Corporate/
Other Eliminations Total
Revenue:
Operating interest income $ 828,862 $1,307,238 $ 24 $(589,411) $1,546,713
Operating interest expense (65,847) (843,994) — 589,411 (320,430)
Net operating interest income 763,015 463,244 24 — 1,226,283
Commissions 431,000 — — — 431,000
Fees and service charges 139,149 3,228 — — 142,377
Principal transactions 103,346 — — — 103,346
Gains (losses) on loans and securities,
net (45) 166,324 (67) — 166,212
Other-than-temporary impairment
(“OTTI”) — (41,510) — — (41,510)
Less: noncredit portion of OTTI
recognized into other comprehensive
income (loss) (before tax) — 3,840 — — 3,840
Net impairment — (37,670) — — (37,670)
Other revenues 37,944 8,383 — — 46,327
Total non-interest income 711,394 140,265 (67) — 851,592
Total net revenue 1,474,409 603,509 (43) — 2,077,875
Provision for loan losses — 779,412 — — 779,412
Operating expense:
Compensation and benefits 228,474 16,333 80,237 — 325,044
Clearing and servicing 71,824 75,669 — — 147,493
Advertising and market development 132,150 — — — 132,150
Professional services 49,418 2,911 28,848 — 81,177
FDIC insurance premiums — 77,728 — — 77,728
Communications 70,616 1,019 1,707 — 73,342
Occupancy and equipment 65,478 2,849 2,588 — 70,915
Depreciation and amortization 65,633 1,289 21,009 — 87,931
Amortization of other intangibles 28,475 — — — 28,475
Facility restructuring and other exit
activities — — 14,346 — 14,346
Other operating expenses 40,563 37,661 25,752 — 103,976
Total operating expense 752,631 215,459 174,487 — 1,142,577
Segment income (loss) before other income
(expense) 721,778 (391,362) (174,530) — 155,886
Other income (expense):
Corporate interest income — — 6,188 — 6,188
Corporate interest expense — — (167,130) — (167,130)
Gains on sales of investments, net — — 2,655 — 2,655
Equity in loss of investments and
venture funds — — (740) — (740)
Total other income (expense) — — (159,027) — (159,027)
Segment income (loss) $ 721,778 $ (391,362) $(333,557) $ — $ (3,141)
166