Annual report 2006 - Dexia.com

CONSOLIDATED STATEMENT OF INCOME
(in millions of EUR) Notes Dec. 31, 2005 Dec. 31, 2006
RAPPORT DE GESTION
CONSOLIDATED
FINANCIAL STATEMENTS
COMPTES SOCIAUX
I. Interest income 11.1. 56,049 73,057
II. Interest expense 11.1. (52,399) (69,128)
III. Dividend income 11.2. 129 152
IV. Net income from associates 11.3. 89 102
V. Net trading income
and net result of hedge accounting 11.4. 154 319
VI. Net income on investments 11.5. 502 1,164
VII. Commission income 11.6. 1,397 1,560
VIII. Commission expense 11.6. (225) (253)
IX. Technical margin of insurance activities 11.7. - 9.3. 208 100
X. Other net income 11.8. 72 (61)
INCOME 5,976 7,012
XI. Staff expense 11.9. (1,586) (1,722)
XII. General and administrative expense 11.10. (975) (1,105)
XIII. Network costs (366) (352)
XIV. Depreciation & amortization 11.11. (247) (252)
XV. Deferred acquisition costs (55) (50)
COSTS (3,229) (3,481)
GROSS OPERATING INCOME 2,747 3,531
XVI. Impairment on loans and provisions
for credit commitments 11.12. (52) (124)
XVII. Impairment on
tangible and intangible assets 11.13. 0 0
XVIII. Impairment on goodwill 11.14. 0 0
(1-2)
NET INCOME BEFORE TAX 2,695 3,407
XIX. Tax expense 11.15. (602) (569)
NET INCOME 2,093 2,838
Attributable to minority interest 55 88
Attributable to equity holders of the parent 2,038 2,750
in EUR
Earnings per share 11.16.
- basic 1.87 2.49
- diluted 1.85 2.45
(1) of which EUR 280 million result on the sale of Banque Artesia Nederland.
(2) of which EUR 236 million result on Dexia’s net asset contribution to the joint venture RBC Dexia Investor Services.
The notes on pages 119 to 212 are an integral part of these consolidated financial statements.
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Dexia / Annual Report 2006