Exhibit 99(i) MERRILL LYNCH & CO., INC. PRELIMINARY UNAUDITED EARNINGS SUMMARY For the Three Months Ended Percent Inc / (Dec)(1) --------------------------------- -------------------------- March 26, December 25, March 27, 1Q99 vs. 1Q99 vs. (in millions, except per share amounts) 1999 1998 1998 4Q98 1Q98 --------- ----------- --------- ---------- ---------- REVENUES Commissions $ 1,567 $ 1,424 $ 1,463 10.0 % 7.1 % Interest and dividends 3,965 4,411 4,814 (10.1) (17.6) Principal transactions 1,444 211 1,171 583.6 23.3 Investment banking 633 824 831 (23.3) (23.9) Asset management and portfolio service fees 1,110 1,046 1,029 6.1 7.8 Other 132 256 80 (48.2) 65.9 -------- -------- -------- TOTAL REVENUES 8,851 8,172 9,388 8.3 (5.7) Interest expense 3,585 4,091 4,626 (12.4) (22.5) -------- -------- -------- NET REVENUES 5,266 4,081 4,762 29.0 10.6 -------- -------- -------- NON-INTEREST EXPENSES Compensation and benefits 2,762 2,218 2,499 24.5 10.5 Communications and technology 480 438 392 9.5 22.5 Occupancy and related depreciation 227 222 201 2.1 12.5 Advertising and market development 152 107 177 42.2 (14.0) Brokerage, clearing, and exchange fees 154 174 156 (11.6) (1.2) Professional fees 117 93 152 26.8 (22.7) Goodwill amortization 57 61 55 (6.2) 2.9 Other 321 249 263 29.0 22.3 -------- -------- -------- TOTAL NON-INTEREST EXPENSES 4,270 3,562 3,895 19.9 9.6 -------- -------- -------- EARNINGS BEFORE INCOME TAXES AND DIVIDENDS ON PREFERRED SECURITIES ISSUED BY SUBSIDIARIES 996 519 867 91.9 14.8 Income tax expense 338 119 330 185.5 2.5 Dividends on preferred securities issued by subsidiaries 49 41 23 17.4 110.1 -------- -------- -------- NET EARNINGS $ 609 $ 359 $ 514 69.7 18.4 ======== ======== ======== Preferred stock dividends $ 10 $ 10 $ 10 - - -------- -------- -------- NET EARNINGS APPLICABLE TO COMMON STOCKHOLDERS $ 599 $ 349 $ 504 71.6 18.8 ======== ======== ======== EARNINGS PER COMMON SHARE Basic $1.65 $0.97 $1.44 70.1 14.6 Diluted 1.44 0.86 1.26 67.4 14.3 AVERAGE SHARES Basic 364.0 359.9 349.5 1.2 4.2 Diluted 415.7 404.9 400.2 2.7 3.9
(1) Percentages are based on actual numbers before rounding. 7