eTrade 2002 Annual Report Download - page 91
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Table of Contents
Index to Financial Statements
E*TRADE GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except share amounts)
December 31,
2002 2001
ASSETS
Cash and equivalents $ 773,605 $ 836,201
Cash and investments required to be segregated under federal or other regulations 1,449,062 764,729
Brokerage receivables, net 1,500,089 2,139,153
Mortgage-backed securities, available-for-sale (includes securities pledged to creditors with the
right to sell or repledge of $6,054,707 at December 31, 2002 and $3,334,401 at December31, 2001)
6,932,394 3,556,619
Loans receivable (net of allowance for loan losses of $27,666 at December 31, 2002 and $19,874 at
December 31, 2001)
5,552,981 6,394,368
Loans held-for-sale, net 1,812,739 1,616,089
Investments 1,770,447 1,168,623
Property and equipment, net 370,944 331,724
Derivative assets 103,622 119,619
Accrued interest receivable 97,516 106,395
Investment in Federal Home Loan Bank Stock 80,732 56,525
Goodwill, net 385,144 557,339
Other intangibles, net 157,892 132,900
Other assets 547,081 392,130
Total assets $ 21,534,248 $ 18,172,414
LIABILITIES AND SHAREHOLDERS’ EQUITY
Brokerage payables $ 2,792,010 $ 2,699,984
Deposits 8,400,333 8,082,859
Borrowings by Bank subsidiary 7,222,161 4,170,440
Derivative liabilities 150,245 253,342
Convertible subordinated notes 695,330 760,250
Accounts payable, accrued and other liabilities 625,015 565,122
Total liabilities 19,885,094 16,531,997
Company-obligated mandatorily redeemable preferred capital securities of subsidiary trusts holding
solely junior subordinated debentures of ETFC (redemption value of $148,375 at December 31,
2002)
143,365 69,503
Commitments and contingencies — —
Shareholders’ equity:
Preferred stock, shares authorized: 1,000,000; issued and outstanding: none at December31, 2002
and 2001
— —
Shares exchangeable into common stock, $.01 par value, shares authorized: 10,644,223; issued and
outstanding: 1,627,265 at December 31, 2002 and 1,825,632 at December 31 2001
16 18
Common stock, $.01 par value, shares authorized: 600,000,000; issued and outstanding:
358,044,317 at December 31, 2002 and 347,592,480 at December31, 2001
3,580 3,476
Additional paid-in capital 2,190,200 2,072,701
Shareholders’ notes receivable — (32,707 )
Deferred stock compensation (23,058 ) (28,110 )
Accumulated deficit (433,492 ) (247,087 )
2003. EDGAR Online, Inc.