This excerpt taken from the C 8-K filed Jan 20, 2006.
Net Income Impact ($MM)
4Q04
4Q05
US Consumer
Cards
$
329
(1,2)
$
(408
)(8,9,10)
Retail Distribution
14
(2)
(99
)(8,9,10)
Consumer Lending
16
(2)
—
Commercial Business Group
29
(1)
19
(10)
Other
—
—
International Consumer
Cards
36
(1,2,3)
35
(10,11)
Consumer Finance
—
—
Retail Banking
20
(1,2)
(32
)(10)
Other
—
—
Corporate & Investment Banking
Capital Markets and Banking
153
(2,4)
101
(10,12,14)
Transaction Services
29
(2,4)
(4
)(10)
Other
120
(5)
375
(13)
Global Wealth Management
Smith Barney
—
—
Private Bank
(235
)(2,6)
(8
)(10)
Alternative Investments
9
(2)
—
Corporate/Other
—
—
Discontinued Operations
(130
)(2,7)
2,082
(15)
1.
Release
of reserve for credit losses comprised of $195 pre-tax for general releases and $260 pre-tax related to securitization gains (total of $290
after-tax, comprised of $269 in US Cards, $29 in Commercial Business Group, ($1) in International Cards and ($7) in International Retail Banking)
2.
Tax
credit related to the American Jobs Creation Act of $234 comprised of $60 in US Cards, $14 in Retail Distribution, $16 in Consumer Lending, $10 in International Cards, $27 in
International Retail Banking, $71 in CM&B, $17 in GTS, $9 in Private Bank, $9 in Alternative Investments and $1 in Discontinued Operations
3.
Gain
on sale of 50% ownership of Orbitall of $42 pre-tax ($27 after-tax) in International Cards
4.
Release
of reserve for credit losses to reflect continued improvement in credit quality of $150 pre-tax ($94 after-tax comprised of $82 in CM&B and $12 in GTS)
5.
Legal
insurance recovery of $200 pre-tax ($120 after-tax) in CIB Other
6.
Private
Bank discontinuation charge for Japan operations of ($400) pre-tax (($244) after-tax)
7.
Asset
Management transfer agency settlement of ($171) pre-tax (($131) after-tax) in Discontinued Operations
8.
Charge
to conform accounting practice for customer rewards of ($545) pre-tax (($342) after-tax) in US Cards and ($20) pre-tax (($12)
after-tax) in Retail Distribution
9.
Impact
on revenues and net credit losses (excludes changes to loan loss reserves) from increased consumer bankruptcy filings due to new legislation of ($393) pre-tax
(($252) after-tax) comprised of ($300) pre-tax (($192) after-tax) in US Cards and ($93) pre-tax (($60) after-tax) in Retail Distribution
10.
LLR
release of $3 pre-tax ($1 after-tax) comprised of $126 in US Cards, ($28) in Retail Distribution, $19 in Commercial Business Group, ($22) in International
Cards, ($32) in International Retail Banking, ($50) in CM&B, ($4) in GTS and ($8) in Private Bank
11.
Gain
on sale of card merchant acquiring business of $89 pre-tax, $57 after-tax in International Cards
12.
Increased
reserve for previously disclosed legal matters of ($160) pre-tax, ($97) after-tax in CM&B
13.
Release
of WorldCom/Research litigation reserves of $600 pre-tax, $375 after-tax in CIB Other
14.
Gain
on sale of Nikko Cordial Stock of $386 pre-tax, $248 after-tax in CM&B
15.
Gain
on sale of Asset Management of $2.08B in Discontinued Operations
