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Previous: LEHMAN BROTHERS HOLDINGS INC, 8-K, EX-99.2, 2000-06-16 |
Next: LEHMAN BROTHERS HOLDINGS INC, 8-K, EX-99.4, 2000-06-16 |
EXHIBIT 99.3
LEHMAN BROTHERS HOLDINGS INC.
CONSOLIDATED STATEMENT OF INCOME
(Preliminary and Unaudited)
(In millions, except per share data)
<TABLE>
<CAPTION>
Six Months Ended
---------------------------------------- Percentage of
May 31 May 31 Dollar Change
2000 1999 Inc/(Dec)
-------------- ------------- -------------
Revenues:
<S> <C> <C> <C>
Principal transactions $ 1,984 $ 1,219
Investment banking 1,082 758
Commissions 455 314
Interest and dividends 9,051 7,208
Other 102 24
-------- --------
Total revenues 12,674 9,523
Interest expense 8,717 6,950
----- -----
Net revenues 3,957 2,573 54%
----- -----
Non-interest expenses:
Compensation and benefits 2,057 1,305
Technology and communications 169 163
Brokerage and clearance fees 120 119
Business development 77 58
Professional fees 75 50
Occupancy 62 56
Other 45 47
------- -------
Total non-interest expenses 2,605 1,798 45%
----- -----
Income from operations before taxes and
dividends on trust preferred securities 1,352 775
Provision for income taxes 405 222
Dividends on trust preferred securities 28 13
------- -------
Net income $ 919 $ 540 70%
===== =====
Net income applicable to common stock $ 848 $ 466 82%
===== =====
Earnings per common share
Basic $6.87 $3.82
===== =====
Diluted $6.46 $3.66
===== =====
</TABLE>
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