BB&T 2008 Annual Report Download - page 140

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BB&T CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
BB&T Corporation
Reportable Segments
For the Years Ended December 31, 2008, 2007 and 2006
Banking Network Residential Mortgage
Banking Sales Finance Specialized Lending Insurance Services
2008 2007 2006 2008 2007 2006 2008 2007 2006 2008 2007 2006 2008 2007 2006
(Dollars in millions)
Net interest income (expense) $ 2,119 $ 2,305 $ 2,385 $ 1,135 $ 1,042 $ 895 $ 401 $ 376 $ 306 $ 711 $ 676 $ 494 $ 12 $ 18 $ 14
Net funds transfer pricing (FTP) 1,113 1,141 931 (835) (791) (648) (283) (256) (194) (210) (223) (118) (5) (4) (4)
Net interest income (expense) and FTP 3,232 3,446 3,316 300 251 247 118 120 112 501 453 376 7 14 10
Economic provision for loan and lease losses 840 155 145 134 9 9 40 21 21 301 194 137 — — —
Noninterest income 1,235 1,095 967 224 120 109 2 2 2 116 90 74 907 839 783
Intersegment net referral fees (expense) 254 239 223 (96) (92) (92) (13) (13) (12) — — — — — —
Noninterest expense 1,545 1,472 1,402 84 64 53 28 25 23 243 206 163 697 624 624
Allocated corporate expenses 700 588 528 10 10 11 11 10 8 38 25 20 42 28 25
Income (loss) before income taxes 1,636 2,565 2,431 200 196 191 28 53 50 35 118 130 175 201 144
Provision (benefit) for income taxes 586 927 879 72 71 69 10 19 18 14 45 48 67 76 55
Segment net income (loss) $ 1,050 $ 1,638 $ 1,552 $ 128 $ 125 $ 122 $ 18 $ 34 $ 32 $ 21 $ 73 $ 82 $ 108 $ 125 $ 89
Identifiable segment assets (period end) $65,358 $60,739 $56,658 $19,028 $18,503 $16,426 $6,117 $5,786 $5,486 $6,571 $5,608 $3,785 $ 1,253 $ 1,076 $ 1,046
Financial Services Treasury All Other Segments (1) Parent/Reconciling
Items Total BB&T Corporation
2008 2007 2006 2008 2007 2006 2008 2007 2006 2008 2007 2006 2008 2007 2006
(Dollars in millions)
Net interest income (expense) $ 47 $ 20 $ 25 $ 300 $ (134) $ (171) $ 161 $ 167 $ 166 $ (648) $ (590) $ (406) $ 4,238 $ 3,880 $ 3,708
Net funds transfer pricing (FTP) 29 35 19 (7) (158) (69) (170) (169) (130) 368 425 213 — — —
Net interest income (expense) and FTP 76 55 44 293 (292) (240) (9) (2) 36 (280) (165) (193) 4,238 3,880 3,708
Economic provision for loan and lease losses 8 — — — — 1 8 1 1 114 68 (74) 1,445 448 240
Noninterest income 630 553 547 140 111 117 42 58 66 (99) (94) (144) 3,197 2,774 2,521
Intersegment net referral fees (expense) 20 10 18 — — (1) — — — (165) (144) (136) — — —
Noninterest expense 528 481 476 12 8 10 86 81 80 698 675 685 3,921 3,636 3,516
Allocated corporate expenses 29 30 35 4 3 7 1 7 6 (835) (701) (640) — — —
Income (loss) before income taxes 161 107 98 417 (192) (142) (62) (33) 15 (521) (445) (444) 2,069 2,570 2,473
Provision (benefit) for income taxes 59 36 36 104 (106) (94) (49) (23) (11) (313) (209) (55) 550 836 945
Segment net income (loss) $ 102 $ 71 $ 62 $ 313 $ (86) $ (48) $ (13) $ (10) $ 26 $ (208) $ (236) $ (389) $ 1,519 $ 1,734 $ 1,528
Identifiable segment assets (period end) $ 2,921 $ 4,118 $ 2,163 $37,438 $24,137 $24,262 $5,029 $3,934 $3,848 $8,300 $8,717 $7,677 $152,015 $132,618 $121,351
(1) Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.
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