STATE STREET CORP STT Income Statement

State street corp (STT)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07
Fee revenue:
Servicing fees
5,074	5,421	5,365	5,073	5,153	5,108	4,799	4,414	4,382	3,938	3,334	3,798	3,388
Management fees
1,771	1,851	1,616	1,292	1,174	1,207	1,106	993	917	829	766	975	1,141
Foreign exchange trading services
1,111	1,201	1,071	1,099	1,146	1,084	1,094	1,036	1,220	1,106	1,094	1,467	1,152
Securities finance
471	543	606	562	496	437	359	405	378	318	570	1,230	681
Software and processing fees
720	438	343	90	309	174	212	240	297	349	171	277	271
Net interest income:
Interest income
3,941	3,662	2,908	2,512	2,488	2,652	2,714	3,014	2,946	3,462	3,286	4,879	5,212
Interest Expense
1,375	991	604	428	400	392	411	476	613	763	722	2,229	3,482
Net interest income
2,566	2,671	2,304	2,084	2,088	2,260	2,303	2,538	2,333	2,699	2,564	2,650	1,730
Other income:
Gains from sales of available-for-sale securities, net
-1	9	-39	10	-5	15	14	55	140	-55	368	68	7
Other income (loss)
44	-3	0	2	1	1	21	53	123	651	1,155	122	34
Noninterest Income
9,147	9,454	9,001	8,116	8,278	8,010	7,570	7,088	7,194	6,540	5,935	7,747	6,633
Total other income
43	6	-39	7	-6	4	-9	23	67	-286	141	-54	-27
Losses reclassified (from) to other comprehensive income
-	-	-	1	0	-10	-2	21	50	420	928	-	0
Gain on sale of CitiStreet interest, net of exit and other associated costs
-	-	-	-	-	-	-	-	-	-	-	350	0
Total revenue
11,756	12,131	11,266	10,207	10,360	10,274	9,864	9,649	9,594	8,953	8,640	10,693	8,336
Provision for loan losses
10	15	2	10	12	10	6	-3	0	25	149	-	0
Expenses:
Labor and Related Expense
4,541	4,780	4,394	4,353	4,061	4,060	3,800	3,837	3,820	3,517	3,037	3,842	3,256
Information systems and communications
1,465	1,324	1,167	1,105	1,022	976	935	844	776	713	656	633	546
Transaction processing services
983	985	838	800	793	784	733	702	732	653	583	644	619
Occupancy
470	500	461	440	444	461	467	470	455	463	475	465	408
Claims resolution
-	-	-	-	-	-	-	362	0	0	-	-	-
Securities lending charge
-	-	-	-	-	-	-	-	-	414	-	-	-
Provision for fixed-income litigation exposure
-	-	-	-	-	-	-	-	-	-	250	-	600
Acquisition and restructuring costs
77	24	266	209	25	133	104	225	269	252	49	115	198
Provision for investment account infusion
-	-	-	-	-	-	-	-	-	-	-	450	0
Restructuring charges
-	-	-	-	-	-	-	-	-	-	-	306	0
Professional services
-	-	-	-	490	440	392	381	347	277	264	360	236
Amortization of other intangible assets
236	226	214	207	197	222	214	198	200	179	136	144	92
Other
1,262	1,176	929	963	1,018	751	547	591	459	374	516	892	478
Noninterest Expense
9,034	9,015	8,269	8,077	8,050	7,827	7,192	6,886	7,058	6,842	5,966	7,851	6,433
Income before income tax expense
2,712	3,101	2,995	2,120	2,298	2,437	2,666	2,766	2,536	2,086	2,525	2,842	1,903
Income tax expense
470	508	839	-22	318	415	616	705	616	530	722	1,031	642
Net income from non-controlling interest
-	-	-	-1	0	0	-	-	-	-	-	-	-
Income before extraordinary loss
-	-	-	-	-	-	-	-	-	-	1,803	1,811	1,261
Extraordinary loss, net of taxes
-	-	-	-	-	-	-	-	-	-	-3,684	-	0
Net income
2,242	2,593	2,156	2,143	1,980	2,022	2,050	2,061	1,920	1,556	-1,881	1,811	1,261
Net income before extraordinary loss available to common shareholders
-	-	-	-	-	-	-	-	-	-	1,640	1,789	1,261
Net income available to common shareholders
2,009	2,404	1,972	1,968	1,848	1,958	2,016	2,019	1,882	1,540	-2,044	1,789	1,261
Earnings Per Share [Abstract]
Basic
-	-	-	-	-	-	-	-	-	-	3.50	4.32	3.49
Diluted
-	-	-	-	-	-	-	-	-	-	3.46	4.30	3.45
Basic (in USD per share)
5.43	6.46	5.26	5.03	4.53	4.62	4.52	4.25	3.82	3.11	-4.32	4.32	3.49
Diluted (in USD per share)
5.38	6.39	5.19	4.97	4.47	4.53	4.43	4.20	3.79	3.09	-4.31	4.30	3.45
Average common shares outstanding (in thousands):
Basic (in shares)
369	371	374	391	407	424	446	474	492	495	470	413	360
Diluted (in shares)
373	376	380	396	413	432	455	481	496	497	474	416	365
Cash dividends declared (in USD per share)
1.98	1.78	1.60	1.44	1.32	1.16	1.04	0.96	0.72	-	-	-	-