EX-99 6 f03-06_198kexh994.txt EXHIBIT 99.4 CONSOLIDATED STATEMENT OF INCOME LEHMAN BROTHERS HOLDINGS INC. Exhibit 99.4 CONSOLIDATED STATEMENT OF INCOME (Preliminary and Unaudited) (In millions, except per share data)
Six Months Ended % Change from ------------------------------------ ------------------- May 31 May 31 May 31 2003 2002 2002 ---------------- --- --------------- ------------------- Revenues: Principal transactions $2,043 $1,196 Investment banking 803 935 Commissions 561 621 Interest and dividends 5,132 5,796 Other 31 25 ---------------- --------------- Total revenues 8,570 8,573 Interest expense 4,568 5,304 ---------------- --------------- Net revenues 4,002 3,269 22% ---------------- --------------- Non-interest expenses: Compensation and benefits 2,041 1,667 Technology and communications 290 264 Brokerage and clearance fees 176 151 Occupancy 155 140 Professional fees 70 54 Business development 69 74 Other 59 43 Global real estate reconfiguration 77 - ---------------- --------------- Total non-interest expenses 2,937 2,393 23% Income before taxes and dividends on trust preferred securities 1,065 876 Provision for income taxes 295 254 Dividends on trust preferred securities 32 28 ---------------- --------------- Net income $738 $594 24% ================ =============== Net income applicable to common stock $716 $547 31% ================ =============== Earnings per common share Basic $2.96 $2.23 ================ =============== Diluted $2.81 $2.07 ================ ===============