eTrade 2006 Annual Report Download - page 141
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Year Ended December 31, 2004
Retail Institutional Eliminations(1) Total
Revenue:
Operating interest income $ 492,233 $ 956,972 $(303,608) $1,145,597
Operating interest expense (169,955) (644,108) 303,608 (510,455)
Net operating interest income 322,278 312,864 — 635,142
Provision for loan losses — (38,121) — (38,121)
Net operating interest income after provision for
loan losses 322,278 274,743 — 597,021
Commission 328,889 102,749 — 431,638
Service charges and fees 84,445 13,130 — 97,575
Principal transactions — 126,893 — 126,893
Gain on sales of loans and securities, net 93,694 47,024 — 140,718
Other revenue 106,457 16,684 (34,064) 89,077
Total non-interest income 613,485 306,480 (34,064) 885,901
Total net revenue 935,763 581,223 (34,064) 1,482,922
Expense excluding interest:
Compensation and benefits 227,867 122,573 — 350,440
Clearing and servicing 48,275 148,143 (34,064) 162,354
Advertising and market development 57,193 4,962 — 62,155
Communications 61,112 8,562 — 69,674
Professional services 44,474 24,540 — 69,014
Depreciation and amortization 65,599 12,293 — 77,892
Occupancy and equipment 57,437 12,135 — 69,572
Amortization of other intangibles 11,863 7,580 — 19,443
Facility restructuring and other exit activities 4,784 10,904 — 15,688
Other 49,542 41,349 — 90,891
Total expense excluding interest 628,146 393,041 (34,064) 987,123
Segment income $ 307,617 $ 188,182 $ — $ 495,799
(1) Reflects elimination of transactions between retail and institutional segments, which includes deposit transfer pricing, servicing and order
flow rebates.
Segment Assets
Total assets for each segment are shown in the following table (dollars in thousands):
Retail Institutional Eliminations Total
At December 31, 2006 $13,864,334 $39,874,969 $— $53,739,303
At December 31, 2005 $12,901,008 $31,666,678 $— $44,567,686
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