Regions Bank 2011 Annual Report Download - page 242

Statements of Operations
Year Ended December 31
2011 2010 2009
(In millions)
Income:
Service fees from subsidiaries ..................................... $129 $128 $ 123
Interest from subsidiaries ......................................... 10 24 16
Gain on extinguishment of debt .................................... — — 61
Other ......................................................... (5) 7 8
134 159 208
Expenses:
Salaries and employee benefits ..................................... 133 117 133
Interest ....................................................... 173 183 162
Net occupancy expense ........................................... 9 9 4
Furniture and equipment expense ................................... 5 8 7
Legal and other professional fees ................................... 20 21 14
Other ......................................................... 64 50 36
404 388 356
Income (loss) before income taxes and equity in undistributed earnings (loss)
of subsidiaries ................................................ (270) (229) (148)
Income tax benefit .............................................. (121) (93) (31)
Income (loss) before equity in undistributed earnings (loss) of subsidiaries
and preferred dividends ........................................ (149) (136) (117)
Equity in undistributed earnings (loss) of subsidiaries:
Banks .................................................... 317 (252) (978)
Non-banks ................................................. (383) (151) 64
(66) (403) (914)
Net income (loss) ................................................... (215) (539) (1,031)
Preferred stock dividends and accretion .................................. (214) (224) (230)
Net income (loss) available to common shareholders ....................... $(429) $(763) $(1,261)
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