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STATE STREET CORP

Statements

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Consolidated Statement Of Income (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Fee revenue:      
Servicing fees $ 4,382 $ 3,938 $ 3,334
Management fees 917 829 766
Trading services 1,220 1,106 1,094
Securities finance 378 318 570
Processing fees and other 297 349 171
Total fee revenue 7,194 6,540 5,935
Net interest revenue:      
Interest revenue 2,946 3,462 3,286
Interest expense 613 763 722
Net interest revenue 2,333 2,699 2,564
Gains (Losses) related to investment securities, net:      
Net gains (losses) from sales of investment securities 140 (55) 368
Losses from other-than-temporary impairment (123) (651) (1,155)
Losses not related to credit 50 [1] 420 [1] 928 [1]
Gains (Losses) related to investment securities, net 67 (286) 141
Total revenue 9,594 8,953 8,640
Provision for loan losses   25 149
Expenses:      
Compensation and employee benefits 3,820 3,524 3,037
Information systems and communications 776 713 656
Transaction processing services 732 653 583
Occupancy 455 463 475
Securities lending charge   414  
Provision for fixed-income litigation exposure   9 250
Acquisition and restructuring costs 269 245 49
Professional services 347 277 264
Amortization of other intangible assets 200 179 136
Other 459 374 516
Total expenses 7,058 6,842 5,966
Income before income tax expense and extraordinary loss 2,536 2,086 2,525
Income tax expense 616 530 722
Income before extraordinary loss 1,920 1,556 1,803
Extraordinary loss, net of taxes     (3,684)
Net income (loss) 1,920 1,556 (1,881)
Net income before extraordinary loss available to common shareholders 1,882 1,540 1,640
Net income (loss) available to common shareholders $ 1,882 $ 1,540 $ (2,044)
Earnings per common share before extraordinary loss:      
Basic $ 3.82 $ 3.11 $ 3.50
Diluted $ 3.79 [2] $ 3.09 [2] $ 3.46 [2]
Earnings (Loss) per common share:      
Basic $ 3.82 $ 3.11 $ (4.32)
Diluted $ 3.79 $ 3.09 $ (4.31)
Average common shares outstanding (in thousands):      
Basic 492,598 495,394 470,602
Diluted 496,072 497,924 474,003
[1] Pursuant to revised GAAP adopted on April 1, 2009, these losses were recorded, net of related taxes, a component of other comprehensive income; refer to note 12.
[2] Calculations for 2011 and 2010 reflected the allocation of earnings to participating securities using the two-class method, as this computation was more dilutive than the calculation using the treasury stock method.