eTrade 2003 Annual Report Download - page 119

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Table of Contents
Index to Financial Statements
The total assets at December 31, 2003 and 2002 for each segment are shown below:
Brokerage
Banking
Total
At December 31, 2003
$
5,617,188
$
20,432,028
$
26,049,216
At December 31, 2002
$
4,322,111
$
17,133,814
$
21,455,925
Geographic Information
The Company operates in both U.S. and international markets. The Company’s international operations are conducted through offices in
Europe, Japan, Canada and South East Asia. The following information provides a reasonable representation of each region’s contribution to
the consolidated amounts (in thousands):
No single customer accounted for greater than 10% of gross revenues for 2003, 2002 and 2001.
NOTE 29—CONDENSED FINANCIAL INFORMATION (PARENT COMPANY ONLY)
United
States
Europe
South
East Asia
Rest of
World (1)
Total
Net revenues:
Year ended December 31, 2003
$
1,361,766
$
67,815
$
10,384
$
43,743
$
1,483,708
Year ended December 31, 2002
$
1,224,331
$
56,554
$
6,696
$
38,283
$
1,325,864
Year ended December 31, 2001
$
1,173,059
$
55,237
$
17,127
$
29,941
$
1,275,364
Long
-
lived assets:
At December 31, 2003
$
283,618
$
7,442
$
1,537
$
8,661
$
301,258
At December 31, 2002
$
354,359
$
6,559
$
3,599
$
6,427
$
370,944
(1)
Comprised primarily of Canada
The following presents the Parent’s condensed balance sheets, statements of operations and cash flows:
BALANCE SHEETS
(in thousands)
105
December 31,
2003
2002
ASSETS
Cash and equivalents
$
82,565
$
97,740
Property and equipment, net
186,412
230,354
Investments
40,669
25,709
Equity in net assets of bank subsidiary
1,021,430
805,861
Equity in net assets of other consolidated subsidiaries
1,367,778
1,174,151
Receivable from subsidiaries
87,799
—
Other assets
76,350
122,516
Total assets
$
2,863,003
$
2,456,331
LIABILITIES AND SHAREHOLDERS
’
EQUITY
Convertible subordinated notes
$
695,330
$
695,330
Other liabilities
249,380
153,857
Payable to subsidiaries
—
101,355
Shareholders
’
equity
1,918,293
1,505,789
Total liabilities and shareholders
’
equity
$
2,863,003
$
2,456,331