Exhibit 99(i) MERRILL LYNCH & CO., INC. PRELIMINARY UNAUDITED EARNINGS SUMMARY For the Three Months Ended Percent Inc / (Dec) March 27, December 26, March 28, 1Q98 vs. 1Q98 vs. [In millions, except per share amounts] 1998 1997 1997 4Q97 1Q97 --------- ------------ --------- -------- -------- Revenues: Commissions $1,377 $1,230 $1,115 11.9 % 23.5 % Interest and Dividends 4,742 4,512 3,848 5.1 23.2 Principal Transactions 1,152 603 1,063 90.9 8.3 Investment Banking 801 825 608 (2.9) 31.8 Asset Management and Portfolio Service Fees 970 751 646 29.3 50.2 Other 124 202 171 (38.5) (27.5) ------ ------ ------ Total Revenues 9,166 8,123 7,451 12.8 23.0 Interest Expense 4,564 4,255 3,610 7.3 26.4 ------ ------ ------ Net Revenues 4,602 3,868 3,841 19.0 19.8 ------ ------ ------ Non-Interest Expenses: Compensation and Benefits 2,375 1,962 1,988 21.0 19.5 Communications and Equipment Rental 198 166 158 19.5 25.7 Occupancy 135 122 120 10.2 12.1 Depreciation and Amortization 126 118 105 6.5 19.7 Professional Fees 263 206 198 27.5 33.1 Advertising and Market Development 172 153 144 13.1 19.4 Brokerage, Clearing, and Exchange Fees 150 138 118 8.7 27.1 Goodwill Amortization 55 19 15 N/M N/M Other 254 255 229 (0.5) 10.8 ------ ------ ------ Total Non-Interest Expenses 3,728 3,139 3,075 18.8 21.3 ------ ------ ------ Earnings Before Income Taxes and Dividends on Preferred Securities Issued by Subsidiaries 874 729 766 19.9 14.0 Income Tax Expense 332 250 291 32.8 14.1 Dividends on Preferred Securities Issued by Subsidiaries 24 13 9 87.3 136.7 ------ ------ ------ Net Earnings $ 518 $ 466 $ 466 11.2 11.4 ====== ====== ====== Preferred Stock Dividends $ 9 $ 10 $ 11 -- (8.9) ------ ------ ------ Net Earnings Applicable to Common Stockholders $ 509 $ 456 $ 455 11.5 11.9 ====== ====== ====== Earnings per Common Share (A): Basic $ 1.49 $ 1.37 $ 1.37 8.8 8.8 Diluted $ 1.30 $ 1.17 $ 1.17 11.1 11.1 Average Shares (A): Basic 340.6 333.9 331.2 2.0 2.8 Diluted 390.9 390.8 389.6 -- 0.3
(A) Share and per share amounts for the 1997 first quarter have been restated for the two-for-one common stock split, effected in the form of a 100% stock dividend, paid on May 30, 1997. Note: Percentages are based on actual numbers before rounding. 7