Exhibit 99(i) MERRILL LYNCH & CO., INC. PRELIMINARY UNAUDITED EARNINGS SUMMARY For the Three Months Ended Percent Inc / (Dec) ----------------------------------------- ----------------------- March 31, December 31, March 26, 1Q00 vs. 1Q00 vs. (in millions, except per share amounts) 2000 1999 1999 4Q99 1Q99 --------- ------------ --------- -------- -------- NET REVENUES Commissions $ 2,152 $ 1,735 $ 1,567 24.0% 37.3% Principal transactions 1,787 794 1,444 125.1 23.8 Investment banking 996 1,125 633 (11.5) 57.3 Asset management and portfolio service fees 1,390 1,301 1,110 6.8 25.2 Other 238 296 132 (19.6) 80.3 ------- ------- ------- Subtotal 6,563 5,251 4,886 25.0 34.3 Interest revenue and dividends 4,463 4,019 3,681 11.0 21.2 Less interest expense 3,779 3,375 3,301 12.0 14.5 ------- ------- ------- Net interest profit 684 644 380 6.2 80.0 TOTAL NET REVENUES 7,247 5,895 5,266 22.9 37.6 ------- ------- ------- NON-INTEREST EXPENSES Compensation and benefits 3,808 2,916 2,762 30.6 37.9 Communications and technology 578 541 480 6.8 20.4 Occupancy and related depreciation 250 252 227 (0.8) 10.1 Advertising and market development 244 236 152 3.4 60.5 Brokerage, clearing, and exchange fees 192 184 154 4.3 24.7 Professional fees 147 163 117 (9.8) 25.6 Goodwill amortization 56 57 57 (1.8) (1.8) Other 397 386 321 2.8 23.7 ------- ------- ------- TOTAL NON-INTEREST EXPENSES 5,672 4,735 4,270 19.8 32.8 ------- ------- ------- EARNINGS BEFORE INCOME TAXES AND DIVIDENDS ON PREFERRED SECURITIES ISSUED BY SUBSIDIARIES 1,575 1,160 996 35.8 58.1 Income tax expense 489 346 338 41.3 44.7 Dividends on preferred securities issued by subsidiaries 49 50 49 (2.0) - ------- ------- ------- NET EARNINGS $ 1,037 $ 764 $ 609 35.7 70.3 ======= ======= ======= Preferred stock dividends $ 9 $ 9 $ 10 - (10.0) ------- ------- ------- NET EARNINGS APPLICABLE TO COMMON STOCKHOLDERS $ 1,028 $ 755 $ 599 36.2 71.6 ======= ======= ======= EARNINGS PER COMMON SHARE Basic $ 2.69 $ 2.03 $ 1.65 32.5 63.0 Diluted 2.38 1.80 1.44 32.2 65.3 AVERAGE SHARES Basic 381.6 372.0 364.0 2.6 4.8 Diluted 432.4 420.6 415.7 2.8 4.0
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