Consolidated Statement of Income

 

($ in millions) Year ended December 31,   2005     2004     2003  
Revenue                  
Consumer $ 9,945   $ 10,332   $ 8,597  
Commercial   2,685     2,177     1,950  
Loans held for sale   1,652     1,269     1,024  
Operating leases   7,032     6,563     6,611  
Total revenue   21,314     20,341     18,182  
Interest and discount expense   12,930     9,535     7,564  
Net revenue before provision for credit losses   8,384     10,806     10,618  
Provision for credit losses   1,085     1,953     1,721  
Net revenue   7,299     8,853     8,897  
Insurance premiums and service revenue earned   3,762     3,528     3,178  
Mortgage banking income   2,462     1,925     2,584  
Investment income   1,216     845     631  
Other income   4,468     3,516     3,129  
Total net revenue   19,207     18,667     18,419  
Expense                  
Depreciation expense on operating lease assets   5,244     4,828     4,844  
Compensation and benefits expense   3,163     2,916     2,838  
Insurance losses and loss adjustment expenses   2,355     2,371     2,288  
Other operating expenses   4,134     4,205     4,065  
Goodwill impairment   712     –     –  
Total noninterest expense   15,608     14,320     14,035  
Income before income tax expense   3,599     4,347     4,384  
Income tax expense   1,205     1,434     1,591  
Net income $ 2,394   $ 2,913   $ 2,793