EX-99 6 f03-09_23ex994.txt EXHIBIT 99.4 CONSOLIDATED STATEMENT OF INCOME EXHIBIT 99.4 LEHMAN BROTHERS HOLDINGS INC. CONSOLIDATED STATEMENT OF INCOME (Preliminary and Unaudited) (In millions, except per share data)
Nine Months Ended % Change from ------------------------------------ ------------------- Aug 31 Aug 31 Aug 31 2003 2002 2002 ---------------- --- --------------- ------------------- Revenues: Principal transactions $3,246 $1,431 Investment banking 1,261 1,362 Commissions 875 978 Interest and dividends 7,599 8,843 Other 52 34 ---------------- --------------- Total revenues 13,033 12,648 Interest expense 6,684 8,032 ---------------- --------------- Net revenues 6,349 4,616 38% ---------------- --------------- Non-interest expenses: Compensation and benefits 3,215 2,354 Technology and communications 441 404 Brokerage and clearance fees 272 237 Occupancy 230 213 Business development 105 112 Professional fees 105 90 Other 90 61 Global real estate reconfiguration 77 - ---------------- --------------- Total non-interest expenses 4,535 3,471 31% Income before taxes and dividends on trust issued securities 1,814 1,145 Provision for income taxes 545 315 Dividends on trust issued securities 51 42 ---------------- --------------- Net income $1,218 $788 55% ================ =============== Net income applicable to common stock $1,185 $730 62% ================ =============== Earnings per common share Basic $4.88 $2.97 ================ =============== Diluted $4.63 $2.77 ================ ===============