EX-99.2 3 0003.txt EXHIBIT 99.2 EXHIBIT 99.2 LEHMAN BROTHERS HOLDINGS INC. CONSOLIDATED STATEMENT OF INCOME (Preliminary and Unaudited) (In millions, except per share data)
Three Months Ended ---------------------------------------- Percentage of May 31 May 31 Dollar Change 2000 1999 Inc/(Dec) -------------- ------------- ------------- Revenues: Principal transactions $ 870 $ 685 Investment banking 480 445 Commissions 226 168 Interest and dividends 4,738 3,627 Other 20 7 ------- -------- Total revenues 6,334 4,932 Interest expense 4,579 3,477 ----- ----- Net revenues 1,755 1,455 21% ----- ----- Non-interest expenses: Compensation and benefits 912 738 Technology and communications 85 81 Brokerage and clearance fees 62 61 Business development 42 30 Professional fees 43 28 Occupancy 32 28 Other 21 23 ------- ---- Total non-interest expenses 1,197 989 21% ----- --- Income from operations before taxes and dividends on trust preferred securities 558 466 Provision for income taxes 166 126 Dividends on trust preferred securities 14 10 ------- ------- Net income $ 378 $ 330 15% ===== ===== Net income applicable to common stock $ 366 $ 268 37% ===== ===== Earnings per common share Basic $2.97 $2.19 ===== ===== Diluted $2.78 $2.09 ===== =====