Consolidated Statements of Operations:
- Interest income for the Restatement Period is expected to decrease by approximately $411 million from approximately $1.88 billion to $1.46 billion.
- Other-than-temporary impairment losses for the Restatement Period is expected to increase by approximately $293 million from approximately $190 million to $484 million.
- Realized losses on sales for the Restatement Period is expected to decrease by approximately $9 million from approximately $29 million to $20 million.
- Net income for the Restatement Period is expected to decrease by approximately $695 million from approximately $1.06 billion to $367 million.
Consolidated Statements of Financial Condition:
- Accumulated other comprehensive income for the Restatement Period is expected to increase by approximately $695 million from approximately $30 million to $725 million.
- Accumulated deficit for the Restatement Period is expected to increase by approximately $695 million from ($289) million to ($984) million.
In light of the need for a Restatement, the Company’s previously issued consolidated financial statements for the Restatement Period and the corresponding audit opinions of Deloitte & Touche, LLP (“Deloitte”), the Company’s independent registered public accounting firm since its inception and up to and including for the fiscal year ended December 31, 2011, on the consolidated financial statements and the reports on internal controls over financial reporting included in or described in the Company’s previously filed Annual Reports on Form 10-K for the years ended December 31, 2010, 2009 and 2008, should no longer be relied upon. The Company currently intends to present the Restatement in its Annual Report on Form 10-K for the year ended December 31, 2011 (the “2011 10-K”), which has not yet been filed. The Company is currently unable to estimate the timing for filing the 2011 10-K, and expects to file its Quarterly Report on Form 10-Q for the quarterly period ending March 31, 2012 within 60 days of filing the 2011 10-K and any subsequent unfiled Quarterly Reports will be filed as soon as practicable.
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