eTrade 2010 Annual Report Download - page 170
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Year Ended December 31, 2009
Trading and
Investing
Balance Sheet
Management
Corporate/
Other Eliminations Total
Revenue:
Operating interest income $ 913,534 $ 1,623,496 $ 105 $(704,577) $ 1,832,558
Operating interest expense (213,953) (1,062,580) — 704,577 (571,956)
Net operating interest income 699,581 560,916 105 — 1,260,602
Commissions 547,993 — — — 547,993
Fees and service charges 185,652 6,864 — — 192,516
Principal transactions 88,053 — — — 88,053
Gains (losses) on loans and securities,
net (53) 169,243 (84) — 169,106
Other-than-temporary impairment
(“OTTI”) — (232,139) — — (232,139)
Less: noncredit portion of OTTI
recognized into other
comprehensive income (loss)
(before tax) — 143,044 — — 143,044
Net impairment — (89,095) — — (89,095)
Other revenues 35,555 12,286 — — 47,841
Total non-interest income 857,200 99,298 (84) — 956,414
Total net revenue 1,556,781 660,214 21 — 2,217,016
Provision for loan losses — 1,498,112 — — 1,498,112
Operating expense:
Compensation and benefits 257,185 15,410 93,637 — 366,232
Clearing and servicing 86,984 83,727 — — 170,711
Advertising and market development 114,391 8 — — 114,399
Professional services 32,553 3,437 42,728 — 78,718
FDIC insurance premiums — 94,258 — — 94,258
Communications 82,258 188 1,935 — 84,381
Occupancy and equipment 71,964 2,984 3,412 — 78,360
Depreciation and amortization 63,447 796 19,094 — 83,337
Amortization of other intangibles 29,737 — — — 29,737
Facility restructuring and other exit
activities — — 20,652 — 20,652
Other operating expenses 58,016 43,326 21,202 — 122,544
Total operating expense 796,535 244,134 202,660 — 1,243,329
Segment income (loss) before other
income (expense) 760,246 (1,082,032) (202,639) — (524,425)
Other income (expense):
Corporate interest income — — 860 — 860
Corporate interest expense — — (282,688) — (282,688)
Losses on sales of investments, net — — (1,714) — (1,714)
Losses on early extinguishment of
debt — (50,594) (968,254) — (1,018,848)
Equity in loss of investments and
venture funds — — (8,616) — (8,616)
Total other income (expense) — (50,594) (1,260,412) — (1,311,006)
Segment income (loss) $ 760,246 $(1,132,626) $(1,463,051) $ — $(1,835,431)
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