EX-99 4 f02-09_248kexh992.txt FORM 8K EXHIBIT 99.2 EXHIBIT 99.2 LEHMAN BROTHERS HOLDINGS INC. SELECTED STATISTICAL INFORMATION (Preliminary and Unaudited) (Dollars in millions, except per share data)
Quarters Ended 8/31/02 5/31/02 2/28/02 11/30/01 8/31/01 5/31/01 -------------------------------------------------------------------------- Income Statement Net Revenues $1,347 $1,663 $1,606 $1,203 $1,628 $2,022 Non-Interest Expenses: Compensation and Benefits 687 848 819 615 830 1,032 Nonpersonnel Expenses 391 379 347 345 363 365 Net Income (a) 194 296 298 130 309 430 Net Income Applicable to Common Stock 183 285 262 119 298 369 Earnings per Common Share (b) Basic $0.74 $1.16 $1.07 $0.49 $1.24 $1.51 Diluted $0.70 $1.08 $0.99 $0.46 $1.14 $1.38 Financial Ratios (%) ---------------- Return on Common Equity (annualized) (c) 8.9 14.1 13.4 6.3 16.2 20.6 Return on Common Equity (annualized, excluding the special preferred dividends, where applicable) (d) 8.9 14.1 14.6 6.3 16.2 23.4 Pretax Operating Margin (e) 20.0 26.2 27.4 9.6 26.7 30.9 Compensation & Benefits/Net Revenues 51.0 51.0 51.0 51.1 51.0 51.0 Effective Tax Rate (f) 22.6 29.0 29.0 (24.4) 25.8 29.0 Balance Sheet Total Assets $267,000 $267,787 $260,061 $247,816 $243,337 $235,936 Total Assets Excluding Matched Book (g) 162,000 173,671 168,850 164,538 156,393 152,890 Common Stockholders' Equity 8,209 8,206 7,948 7,759 7,411 7,279 Total Stockholders' Equity + Preferred Securities Subject to Mandatory Redemption 9,619 9,616 9,358 9,169 8,821 8,689 Total Capital (h) 48,402 46,259 47,343 47,470 48,157 46,425 Net Leverage (i) 16.8x 18.1x 18.0x 17.9x 17.7x 17.6x Book Value per Common Share (j) 33.49 33.22 32.47 31.81 30.83 29.93 Other Data (#s) ---------- Employees 12,980 12,694 12,851 13,090 13,281 12,426 Common Stock Outstanding 239,033,699 243,573,905 244,169,647 237,534,091 239,046,975 244,202,014 Weighted Average Shares Basic 246,653,851 245,767,129 245,284,387 241,933,119 240,414,784 243,852,453 Diluted 261,040,475 263,491,206 265,202,416 261,545,485 261,755,211 266,878,412
-------- (a) Fourth quarter 2001 net income includes a $71 million after tax charge ($127 million pre-tax) for September 11th related write-offs and expenses, net. (b) The Company's September 11th charge recorded in the fourth quarter of 2001 resulted in a decrease to basic and fully diluted EPS of $0.30 and $0.27, respectively. (c) The Company's return on common equity was reduced by approximately 3.7% as a result of the September 11th charge recorded in the fourth quarter of 2001. (d) Return on common equity calculated using net income before adjusting for special preferred dividends of $25 million in the first quarter of 2002 and $50 million in the second quarter of 2001. (e) Pre-tax operating margin in the fourth quarter of 2001 was reduced by approximately 10.6% as a result of the September 11th charge. (f) The effective tax rate in the fourth quarter of 2001 excluding the special charge was 11.5%. (g) Matched book is defined as the lower of securities purchased under agreements to resell or securities sold under agreements to repurchase. (h) Total capital includes long-term debt, stockholders' equity and preferred securities subject to mandatory redemption. (i) Net leverage ratio is calculated by comparing total assets excluding matched book to total stockholders' equity and other preferred securities. (j) The book value per common share calculation includes restricted stock units granted under Lehman Stock Award Programs included in stockholders' equity.