(5) Reflects elimination of transactions between Trading and Investing and Balance Sheet Management segments, which includes deposit and intercompany transfer pricing arrangements.

(6) Amounts and percentages may not calculate due to rounding.

(7) Operating margin is the percentage of net revenue that results in income (loss) before other income (expense) and income taxes. The percentage is calculated by dividing income (loss) before other income (expense) and income taxes by total net revenue.

(8) The following tables provide a reconciliation of GAAP book value and book value per share to non-GAAP tangible book value and tangible book value per share (dollars in thousands, except per share amounts):
      Q2 2012   Q1 2012   Q2 2011
Book value $ 5,079,609   $ 5,035,901   $ 4,812,345
Less: Goodwill and other intangibles, net (2,207,445 ) (2,213,741 ) (2,233,112 )
Less: Deferred tax liability related to goodwill   293,427       283,084       240,298  
Tangible book value $ 3,165,591     $ 3,105,244     $ 2,819,531  
 

 

 

 
      Q2 2012     Q1 2012     Q2 2011
Book value per share $ 17.78     $ 17.63     $ 17.20
Less: Goodwill and other intangibles, net per share (7.73 ) (7.75 ) (7.98 )
Less: Deferred tax liability related to goodwill per share   1.03         0.99         0.86  
Tangible book value per share $ 11.08       $ 10.87       $ 10.08  
 
 

(9) Enterprise net interest spread is the taxable equivalent rate earned on average enterprise interest-earning assets less the rate paid on average enterprise interest-bearing liabilities, excluding corporate interest-earning assets and liabilities and customer cash held by third parties.

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