Comerica 2010 Annual Report Download - page 142

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
The International market represents the activity of the Corporation’s International Finance division,
which provides banking services primarily to foreign-owned, North American-based companies and secondarily
to international operations of North American-based companies.
The Finance & Other Businesses segment includes the Corporation’s securities portfolio, asset and
liability management activities, discontinued operations, the income and expense impact of equity and cash not
assigned to specific business/market segments, tax benefits not assigned to specific business/market segments
and miscellaneous other expenses of a corporate nature. This segment includes responsibility for managing the
Corporation’s funding, liquidity and capital needs, performing interest sensitivity analysis and executing various
strategies to manage the Corporation’s exposure to liquidity, interest rate risk and foreign exchange risk.
The Corporation’s total revenues from customers and long-lived assets (excluding certain intangible
assets) located in foreign countries in which the Corporation holds assets were less than five percent of the
Corporation’s consolidated revenues and long-lived assets (excluding certain intangible assets) in each of the
years ended December 31, 2010, 2009 and 2008.
Market segment financial results are as follows:
(dollar amounts
in millions)
Year Ended
December 31, 2010 Midwest Western Texas Florida
Other
Markets International
Finance
& Other
Businesses Total
Earnings summary:
Net interest income
(expense) (FTE) $ 816 $ 639 $ 318 $ 43 $ 182 $ 73 $ (420) $ 1,651
Provision for loan
losses 199 148 48 33 60 (7) (1) 480
Noninterest income 397 135 91 14 45 35 72 789
Noninterest expenses 751 432 253 44 90 34 36 1,640
Provision (benefit) for
income taxes (FTE) 92 80 38 (7) (23) 28 (148) 60
Income from
discontinued
operations, net of
tax ----- -1717
Net income (loss) $ 171 $ 114 $ 70 $ (13) $ 100 $ 53 $ (218) $ 277
Net credit-related
charge-offs $ 211 $ 212 $ 47 $ 30 $ 59 $ 5 $ - $ 564
Selected average
balances:
Assets $ 14,694 $ 12,904 $ 6,687 $ 1,567 $ 3,922 $ 1,627 $ 14,152 $ 55,553
Loans 14,510 12,705 6,480 1,578 3,653 1,565 26 40,517
Deposits 17,697 12,031 5,320 376 2,160 1,153 749 39,486
Liabilities 17,681 11,958 5,309 363 2,193 1,156 10,825 49,485
Attributed equity 1,427 1,320 667 164 340 148 2,002 6,068
Statistical data:
Return on average
assets (a) 0.90 % 0.86 % 1.04 % (0.86) % 2.56 % 3.23 % n/m 0.50 %
Return on average
attributed equity 12.03 8.68 10.43 (8.20) 29.54 35.50 n/m 2.74
Net interest margin (b) 4.59 5.03 4.90 2.68 5.02 4.54 n/m 3.24
Efficiency ratio 61.69 55.75 61.88 77.99 40.84 31.55 n/m 67.30
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