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STATE ST CORP   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2018201720162015201420132012201120102009
Period End Date12/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/201212/31/201112/31/201012/31/2009
Loans and Leases687.00504.00378.00311.00266.00253.00254.00278.00329.00239.00
Commercial and financial loans--------------------
Investment securities:U.S. Treasury and federal agencies1,178.00854.00821.00735.00672.00707.00799.00775.00682.00520.00
Investment securities:State and political subdivisions (exempt from federal income tax)143.00226.00224.00227.00231.00249.00214.00221.00222.00225.00
Investment securities:Other investments560.00658.00756.00934.001,241.001,331.001,552.001,493.002,109.002,075.00
Deposits with banks387.00180.00126.00208.00196.00125.00141.00149.0093.00156.00
Securities purchased under resale agreements and federal funds sold335.00264.00146.0062.0038.0045.0051.0028.0024.0024.00
Trading account assets------------------20.00
Other interest-earning assets372.00222.0061.0011.008.004.003.002.003.002.00
Interest revenue associated with AMLF------------------25.00
Total interest revenue3,662.002,908.002,512.002,488.002,652.002,714.003,014.002,946.003,462.003,286.00
Deposits363.00163.0085.0097.0099.0093.00166.00220.00213.00195.00
Long-Term Debt389.00308.00260.00250.00245.00232.00222.00289.00286.00304.00
Other short-term borrowings17.0010.007.007.005.0060.0073.0096.00257.00200.00
Securities sold under repurchase agreements13.002.001.00--------------
Other Borrowings209.00121.0075.0046.0043.0026.0015.008.007.005.00
Interest expense associated with AMLF------------------18.00
Total Interest Expense991.00604.00428.00400.00392.00411.00476.00613.00763.00722.00
Net interest revenue2,671.002,304.002,084.002,088.002,260.002,303.002,538.002,333.002,699.002,564.00
Provision for loan losses15.002.0010.0012.0010.006.00(3.00)0.0025.00149.00
Net interest revenue after provision for loan losses2,656.002,302.002,074.002,076.002,250.002,297.002,541.002,333.002,674.002,415.00
Brokerage fees--------------------
Servicing fees5,421.005,365.005,073.005,153.005,108.004,799.004,414.004,382.003,938.003,334.00
Management fees1,851.001,616.001,292.001,174.001,207.001,106.00993.00917.00829.00766.00
Processing fees and other289.00247.0090.00309.00174.00212.00240.00297.00349.00171.00
Gains on sales of available-for-sale investment securities, net6.00(39.00)7.00(6.00)4.00(9.00)23.0067.00(286.00)141.00
Foreign exchange trading--------------------
Trading services1,201.001,071.001,099.001,146.001,084.001,094.001,036.001,220.001,106.001,094.00
Gain on sale of Corporate Trust business--------------------
Gain on sale of commercial banking business, net of exit and other associated costs--------------------
Global securities lending543.00606.00562.00496.00437.00359.00405.00378.00318.00570.00
Gain on sale of Private Asset Management business--------------------
Gain on sale of CitiStreet interest, net of exit and other associated costs--------------------
Total Non Interest Income9,311.008,866.008,123.008,272.008,014.007,561.007,111.007,261.006,254.006,076.00
Salaries and employee benefits4,780.004,394.004,353.004,061.004,060.003,800.003,837.003,820.003,517.003,037.00
Occupancy500.00461.00440.00444.00461.00467.00470.00455.00463.00475.00
Amortization of intangible assets226.00214.00207.00197.00222.00214.00198.00200.00179.00136.00
Restructuring costs24.00266.00209.0025.00133.00104.00225.00269.00----
Merger, integration and divestiture costs----------------252.0049.00
Provision for legal exposure------------------250.00
Other1,176.00929.00963.001,018.00751.00547.00591.00459.00374.00516.00
Professional services------490.00440.00392.00381.00347.00277.00264.00
Transaction processing services938.00838.00800.00793.00784.00733.00702.00732.00653.00583.00
Information systems and communications1,324.001,167.001,105.001,022.00976.00935.00844.00776.00713.00656.00
Provision for investment account infusion--------------------
Securities lending charge----------------414.000.00
Claims resolution------------(362.00)0.000.00--
Total Non-Interest expense8,968.008,269.008,077.008,050.007,827.007,192.006,886.007,058.006,842.005,966.00
Income from continuing operations before income tax expense2,999.002,899.002,120.002,298.002,437.002,666.002,766.002,536.002,086.002,525.00
Current:Federal27.00229.00(14.00)52.0059.00193.00148.0049.00(885.00)75.00
Current:State144.0018.0030.0092.0039.0047.0064.0054.0015.0039.00
Deferred:Federal(134.00)49.00(311.00)(39.00)38.0095.00267.00134.00745.00383.00
Deferred:State(25.00)65.0038.0040.0010.0031.0027.008.00141.0028.00
Income tax expense from continuing operations400.00722.00(22.00)318.00415.00616.00705.00616.00530.00722.00
Current:Non-U.S374.00380.00320.00342.00257.00248.00262.00295.00156.00157.00
Deferred:Non-U.S14.00(19.00)(85.00)(169.00)12.002.00(63.00)76.00358.0040.00
Net income from minority interest----(1.00)--------------
Income from Continuing Operations--------------------
Income from discontinued operations--------------------
Loss from discontinued operations--------------------
Income tax expense from discontinued operations--------------------
Income before extraordinary loss------------------1,803.00
Extraordinary loss, net of taxes------------------(3,684.00)
Consolidated Net Income (Loss)2,599.002,177.002,143.001,980.002,022.002,050.002,061.001,920.001,556.00(1,881.00)
Preferred stock dividends188.00182.00173.00130.0061.0026.0029.0020.00--46.00
Accretion of preferred stock discount--------------------
Dividends and undistributed earnings allocated to participating securities1.002.002.002.003.008.0013.0018.0016.00--
Prepayment of preferred stock discount------------------117.00
Net Income2,410.001,993.001,968.001,848.001,958.002,016.002,019.001,882.001,540.00(2,044.00)
Earnings Per Share From Continuing Operations:Basic------------------3.50
Income Per Share From Discontinued Operations:Basic--------------------
EARNINGS PER SHARE:Basic6.485.325.034.534.624.524.253.823.11(4.32)
Earnings Per Share From Continuing Operations:Diluted------------------3.46
Income Per Share From Discontinued Operations:Diluted--------------------
EARNINGS PER SHARE:Diluted6.405.244.974.474.534.434.203.793.09(4.32)
AVERAGE SHARES OUTSTANDING: Basic371.98374.79391.49407.86424.22446.25474.46492.60495.39470.60
AVERAGE SHARES OUTSTANDING: Diluted376.48380.21396.09413.64432.01455.16481.13496.07497.92474.00