Merrill lynch & co., inc. (PIY)
Income statement / Quarterly
Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Principal transactions

1,904

2,144

331

193

1,948

-166

-249

2,781

2,173

1,171

1,243

2,090

Commissions

1,410

1,379

1,275

1,209

1,240

1,355

1,220

1,441

1,447

1,590

1,351

1,477

Managed account and other fee-based revenues

1,467

1,395

1,392

1,349

1,399

1,287

1,227

1,354

1,331

1,291

1,114

1,162

Investment banking

1,431

1,416

1,395

1,262

1,053

1,204

1,017

1,016

1,614

1,532

1,326

1,265

(Loss) earnings from equity method investments

4

-46

136

21

-29

157

19

70

120

138

281

96

Intercompany service fee revenue from Bank of America

294

240

336

278

205

167

389

153

169

233

-

-

Other revenues

108

-382

651

243

256

779

25

-1,052

940

1,895

478

1,177

Total other-than-temporary impairment losses

0

0

0

0

4

2

9

12

10

38

45

39

Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income

0

0

0

0

0

0

0

-7

-2

-1

-3

-2

Subtotal

6,618

6,146

5,516

4,555

6,068

4,781

3,639

5,758

7,786

7,813

5,751

7,230

Interest and dividend revenues

1,200

1,714

1,909

1,694

901

1,891

1,966

2,314

1,506

2,400

2,245

1,984

Less interest expense

1,469

1,543

1,605

1,732

1,854

1,907

1,840

2,202

2,390

2,353

2,260

2,515

Net interest income (expense)

-269

171

304

-38

-953

-16

126

112

-884

47

-15

-531

Revenues, net of interest expense

6,349

6,317

5,820

4,517

5,115

4,765

3,765

5,870

6,902

7,860

5,736

6,699

Compensation and benefits

3,518

4,529

3,097

3,429

3,568

4,514

3,627

3,638

3,898

4,610

3,507

3,757

Communications and technology

398

343

408

351

390

439

433

432

478

428

493

487

Occupancy and related depreciation

279

295

303

300

296

305

311

385

335

336

351

357

Brokerage, clearing, and exchange fees

289

304

213

213

243

282

239

279

303

300

227

268

Advertising and market development

137

117

152

112

129

108

142

122

115

121

114

103

Professional fees

206

225

280

220

226

195

311

266

225

227

265

217

Office supplies and postage

22

23

26

22

28

28

31

31

32

32

38

36

Provision for representations and warranties

-4

15

15

60

-840

11

-5

17

2,741

-22

34

-103

Intercompany service fee expense from Bank of America

434

444

510

356

538

394

527

561

679

553

-

-

Other

318

358

484

445

319

306

508

529

559

654

973

722

Total non-interest expenses

5,597

6,653

5,488

5,508

4,897

6,582

6,124

6,260

9,365

7,239

6,002

5,844

Pre-tax loss

752

-336

332

-991

218

-1,817

-2,359

-390

-2,463

621

-266

855

Income tax benefit

-215

-129

-1,758

191

-770

-211

-1,615

-523

-1,021

215

114

42

Net loss

967

-207

2,090

-1,182

988

-1,606

-744

133

-1,442

406

-380

813

Preferred stock dividends

-

-

-

-

-

-

-

-

-

-

38

38

Net earnings (loss) applicable to common stockholder

-

-

-

-

-

-

-

-

-

-

-418

775