eTrade 2000 Annual Report Download - page 68

Non-operating income (expense):
Corporate interest income 17,220 20,675 11,236
Corporate interest expense (29,535 ) (71 ) (21 )
Gain on sale of investments 211,149 54,093 —
Equity in income (losses) of investments (11,513 ) (8,838 ) 531
Unrealized loss on venture funds (736 ) — —
Other (1,810 ) (72 ) (1,242 )
Total non-operating income 184,775 65,787 10,504
Pre-tax income (loss) 104,449 (83,406 ) 2,843
Income tax expense (benefit) 85,478 (31,288 ) 1,883
Minority interest in subsidiaries (181 ) 2,197 1,362
Income (loss) before cumulative effect of accounting change and
extraordinary loss
19,152 (54,315 ) (402 )
Cumulative effect of accounting change, net of tax — (469 ) —
Extraordinary loss on early extinguishment of subordinated debt, net of tax — (1,985 ) —
Net income (loss) $ 19,152 $ (56,769 ) $ (402 )
Income (loss) per share before cumulative effect of accounting change and
extraordinary loss (See Note 17):
Basic $ 0.06 $ (0.20 ) $ (0.00 )
Diluted $ 0.06 $ (0.20 ) $ (0.00 )
Income (loss) per share (See Note 17):
Basic $ 0.06 $ (0.21 ) $ (0.01 )
Diluted $ 0.06 $ (0.21 ) $ (0.01 )
Shares used in computation of per share data (See Note 17):
Basic 301,926 272,832 195,051
Diluted 319,336 272,832 195,051
See notes to consolidated financial statements
74
E*TRADE GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREOWNERS’ EQUITY
(in thousands)
Preferred Stock Shares Exchangeable
into
Common Stock
Common Stock
Shares Amount Shares Amount Shares Amount Additional Paid-in
Capital
Unearned
ESOP Shares
Shareowners’
Notes Receivable
Retained Earnings
(Accumulated
Deficit)
Accumulated
Other
Comprehensive
Income (Loss)
Total Shareowners’
Equity
Balance, September 30,
1997
29,900 $ 15,281 4,684 $ 47 173,315 $ 1,733 $ 300,458 $ — $ — $ 34,340 $ 2,691 $ 354,550
Net loss (402 ) (402 )
Net appreciation of
available-for-sale securities
23,517 23,517
Less realized gain (1,341 ) (1,341 )
Unrealized gain on
available-for-sale securities
22,176 22,176
Foreign currency
translation
(622 ) (622 )
Tax expense on other
comprehensive income
items
(10,511 ) (10,511 )
Total comprehensive
income
10,641
Issuance of common stock,
net
of issuance costs
74,584 747 468,759 469,506
Exercise of stock options,
including tax benefit
3,642 36 14,500 14,536
Associate Stock Purchase
Plan
416 4 1,190 1,194
Conversion of ETFC’ s
preferred stock to common
stock
(29,900 ) (15,281 ) 5,039 50 15,231 —
Unearned ESOP shares (327 ) (3 ) 3 (2,578 ) (2,578 )
Dividends-TIR / ETFC 210 2 1,737 (2,352 ) (613 )
Issuance of warrants for
common stock
4,721 4,721
Other stock transactions (5 ) (5 ) 1,102 1,102
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