BB&T 2008 Annual Report Download - page 127

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BB&T CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Parent Company
Condensed Income Statements
For the Years Ended December 31, 2008, 2007 and 2006
2008 2007 2006
(Dollars in millions)
Income
Dividends from banking subsidiaries $1,172 $1,184 $1,755
Dividends from other subsidiaries 404 30 5
Interest and other income from subsidiaries 155 180 140
Other (loss) income (67) 8 2
Total income 1,664 1,402 1,902
Expenses
Interest expense 273 352 301
Other expenses 32 30 27
Total expenses 305 382 328
Income before income taxes and equity in undistributed earnings of subsidiaries 1,359 1,020 1,574
Income tax benefit 76 65 63
Income before equity in undistributed earnings of subsidiaries 1,435 1,085 1,637
Equity in undistributed earnings of subsidiaries in excess of (less than) dividends from
subsidiaries 84 649 (109)
Net income 1,519 1,734 1,528
Dividends and accretion on preferred stock 21 — —
Net income available to common shareholders $1,498 $1,734 $1,528
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