Regions Bank 2012 Annual Report Download - page 229

Statements of Operations
Year Ended December 31
2012 2011 2010
(In millions)
Income:
Dividends received from subsidiaries .................................... $ 950 $— $—
Service fees from subsidiaries .......................................... 141 129 128
Interest from subsidiaries ............................................. 4 10 24
Other ............................................................. 2 (5) 7
1,097 134 159
Expenses:
Salaries and employee benefits ......................................... 154 133 117
Interest ............................................................ 165 173 183
Net occupancy expense ............................................... 10 9 9
Furniture and equipment expense ....................................... 3 5 8
Professional and legal fees ............................................ 17 20 21
Other ............................................................. 85 64 50
434 404 388
Income (loss) before income taxes and equity in undistributed earnings (loss) of
subsidiaries ...................................................... 663 (270) (229)
Income tax benefit ................................................... (122) (121) (93)
Income from continuing operations ...................................... 785 (149) (136)
Discontinued operations:
Income (loss) from discontinued operations before income taxes .............. (114) (6) —
Income tax expense (benefit) ........................................... (38) — —
Income (loss) from discontinued operations, net of tax ...................... (76) (6) —
Income (loss) before equity in undistributed earnings (loss) of subsidiaries and
preferred dividends ................................................ 709 (155) (136)
Equity in undistributed earnings (loss) of subsidiaries: ......................
Banks ......................................................... 387 317 (252)
Non-banks ..................................................... 24 (377) (151)
411 (60) (403)
Net income (loss) ........................................................ 1,120 (215) (539)
Preferred stock dividends and accretion ...................................... (129) (214) (224)
Net income (loss) available to common shareholders ............................ $ 991 $(429) $(763)
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