eTrade 2011 Annual Report Download - page 165
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The Company evaluates the performance of its segments based on the segment’s income (loss) before
income taxes. Financial information for the Company’s reportable segments is presented in the following tables
(dollars in thousands):
Year Ended December 31, 2011
Trading and
Investing
Balance Sheet
Management
Corporate/
Other Total
Net operating interest income $ 746,047 $ 473,891 $ 21 $ 1,219,959
Total non-interest income 700,845 115,908 (113) 816,640
Total net revenue 1,446,892 589,799 (92) 2,036,599
Provision for loan losses — 440,614 — 440,614
Total operating expense 825,940 238,424 170,540 1,234,904
Income (loss) before other income (expense) and
income taxes 620,952 (89,239) (170,632) 361,081
Total other income (expense) — — (175,751) (175,751)
Income (loss) before income taxes $ 620,952 $ (89,239) $ (346,383) 185,330
Income tax expense 28,629
Net income $ 156,701
Year Ended December 31, 2010
Trading and
Investing
Balance Sheet
Management
Corporate/
Other Total
Net operating interest income $ 763,015 $ 463,244 $ 24 $ 1,226,283
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
Total operating expense 752,631 215,459 174,487 1,142,577
Income (loss) before other income (expense) and
income taxes 721,778 (391,362) (174,530) 155,886
Total other income (expense) — — (159,027) (159,027)
Income (loss) before income taxes $ 721,778 $ (391,362) $ (333,557) (3,141)
Income tax expense 25,331
Net loss $ (28,472)
Year Ended December 31, 2009
Trading and
Investing
Balance Sheet
Management
Corporate/
Other Total
Net operating interest income $ 699,581 $ 560,916 $ 105 $ 1,260,602
Total non-interest income 857,200 99,298 (84) 956,414
Total net revenue 1,556,781 660,214 21 2,217,016
Provision for loan losses — 1,498,112 — 1,498,112
Total operating expense 796,535 244,134 202,660 1,243,329
Income (loss) before other income (expense) and
income taxes 760,246 (1,082,032) (202,639) (524,425)
Total other income (expense) — (50,594) (1,260,412) (1,311,006)
Income (loss) before income taxes $ 760,246 $(1,132,626) $(1,463,051) (1,835,431)
Income tax benefit (537,669)
Net loss $(1,297,762)
162