eTrade 2005 Annual Report Download - page 134

Table of Contents
Facility Consolidation Obligations
The components of the facility consolidation restructuring liabilities for the 2003 and 2001 Restructuring Plans at December31, 2005,
and their timing are as follows (in thousands):
Facilities
Obligations
Sublease Income
Discounted
Rents and
Sublease
Net
Year
Contracted
Estimate
2006
$
12,542
$
(2,952
)
$
(224
)
$
(1,000
)
$
8,366
2007
10,537
(2,360
)
(966
)
(735
)
6,476
2008
7,886
(1,839
)
(835
)
(352
)
4,860
2009
6,382
(1,440
)
(716
)
(151
)
4,075
2010
3,535
(731
)
(488
)
(61
)
2,255
Thereafter
922
(782
)
—
—
140
Total
$
41,804
$
(10,104
)
$
(3,229
)
$
(2,299
)
$
26,172
Other Exit Activities
Other exit activities in 2005 are primarily related to the liquidation of proprietary money market funds and the outsourcing of certain
brokerage activities. These costs primarily relate to customer notification, reimbursement of losses taken on sale of securities and
severance. Other exit charges in 2003 were primarily related to the gain on sale of the Company’s German subsidiary, partially offset by
the charges relating to the exit of the Company’s proprietary institutional research business located in Europe.
NOTE 5—BROKERAGE RECEIVABLES, NET AND BROKERAGE PAYABLES
Brokerage receivables, net and brokerage payables consist of the following (in thousands):
December31,
2005
2004
Receivable from customers and non-customers (less allowance for doubtful accounts of $8,835
at December31, 2005 and $1,970 at December31, 2004)
$
5,678,923
$
2,214,210
Receivable from brokers, dealers and clearing organizations:
Deposits paid for securities borrowed
1,163,125
613,546
Net settlement and deposits with clearing organizations
230,936
158,780
Other
101,191
48,012
Total brokerage receivables, net
$
7,174,175
$
3,034,548
Payable to customers and non-customers
$
5,817,469
$
2,805,662
Payable to brokers, dealers and clearing organizations:
Deposits received for securities loaned
1,320,853
735,622
Other
177,337
77,608
Total brokerage payables
$
7,315,659
$
3,618,892

2006. EDGAR Online, Inc.