EX-99.3 CON INC STMT 5 exh99_3.txt CONSOLIDATED STATEMENT OF INCOME EXHIBIT 99.3 LEHMAN BROTHERS HOLDINGS INC. CONSOLIDATED STATEMENT OF INCOME (Preliminary and Unaudited) (In millions, except per share data) Nine Months Ended ------------------ Percentage of Aug. 31, Aug. 31, Dollar Change 2001 2000 Inc/(Dec) -------- -------- ------------- Revenues: Principal transactions $ 2,619 $ 3,055 Investment banking 1,539 1,664 Commissions 827 690 Interest and dividends 13,070 14,512 Other 38 113 -------- -------- Total revenues 18,093 20,034 Interest expense 12,560 14,025 -------- -------- Net revenues 5,533 6,009 (8)% -------- -------- Non-interest expenses: Compensation and benefits 2,822 3,125 Technology and communications 376 249 Brokerage and clearance fees 232 188 Business development 147 126 Professional fees 126 128 Occupancy 138 97 Other 59 71 -------- -------- Total non-interest expenses 3,900 3,984 (2)% -------- -------- Income from operations before taxes and dividends on trust preferred securities 1,633 2,025 Provision for income taxes 466 607 Dividends on trust preferred securities 42 42 -------- -------- Net income $ 1,125 $ 1,376 (18)% ======== ======== Preferred stock dividends 84 83 Net income applicable to common stock $ 1,041 $ 1,293 (19)% ======== ======== Earnings per common share Basic $4.28 $5.27 ======== ======== Diluted $3.91 $4.91 ======== ========