Form: 8-K

Current report filing

February 25, 2003

FORM 8-K 2/25/03 EXHIBIT 99I

Published on February 25, 2003



EXHIBIT 99(i)




MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
PRELIMINARY UNAUDITED CONSOLIDATED BALANCE SHEET


Dec. 27,
(dollars in millions) 2002
-------------------------------------------------------------------------------- --------



ASSETS

CASH AND CASH EQUIVALENTS....................................................... $ 10,211
--------

CASH AND SECURITIES SEGREGATED FOR REGULATORY PURPOSES OR
DEPOSITED WITH CLEARING ORGANIZATIONS...................................... 7,375
--------

SECURITIES FINANCING TRANSACTIONS
Receivables under resale agreements........................................... 75,292
Receivables under securities borrowed transactions............................ 45,543
--------
120,835


TRADING ASSETS, AT FAIR VALUE (includes securities pledged
as collateral of $11,344)
Contractual agreements........................................................ 38,728
Corporate debt and preferred stock............................................ 18,569
Mortgages, mortgage-backed, and asset-backed securities....................... 14,987
Equities and convertible debentures........................................... 13,530
U.S. Government and agencies.................................................. 10,116
Non-U.S. governments and agencies............................................. 10,095
Municipals and money markets.................................................. 5,535
--------
111,560

INVESTMENT SECURITIES........................................................... 81,787
--------

SECURITIES RECEIVED AS COLLATERAL............................................... 2,020
--------

OTHER RECEIVABLES
Customers (net of allowance for doubtful accounts of $79)..................... 35,317
Brokers and dealers........................................................... 8,485
Interest and other............................................................ 10,581
--------
54,383

LOANS, NOTES, AND MORTGAGES (net of allowance for loan losses of $265).......... 34,735

SEPARATE ACCOUNTS ASSETS........................................................ 13,042

EQUIPMENT AND FACILITIES (net of accumulated depreciation and
amortization of $4,671)..................................................... 3,080

GOODWILL (net of accumulated amortization of $984).............................. 4,446

OTHER ASSETS.................................................................... 4,454
--------

TOTAL ASSETS.................................................................... $447,928
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EXHIBIT 99(i)

MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
PRELIMINARY UNAUDITED CONSOLIDATED BALANCE SHEET


Dec. 27,
(dollars in millions, except per share amount) 2002
----------------------------------------------------------------------------- ----------


LIABILITIES

SECURITIES FINANCING TRANSACTIONS
Payables under repurchase agreements........................................ $ 85,378
Payables under securities loaned transactions............................... 7,640
----------
93,018
----------


COMMERCIAL PAPER AND OTHER SHORT-TERM BORROWINGS.............................. 5,353
----------

DEPOSITS...................................................................... 81,842
----------

TRADING LIABILITIES, AT FAIR VALUE
Contractual agreements...................................................... 45,202
U.S. Government and agencies................................................ 14,678
Non-U.S. governments and agencies .......................................... 7,952
Corporate debt, municipals and preferred stock ............................. 6,500
Equities and convertible debentures......................................... 4,864
----------
79,196
----------

OBLIGATION TO RETURN SECURITIES RECEIVED AS COLLATERAL........................ 2,020
----------

OTHER PAYABLES
Customers................................................................... 28,569
Brokers and dealers......................................................... 16,541
Interest and other.......................................................... 20,724
----------
65,834
----------

LIABILITIES OF INSURANCE SUBSIDIARIES......................................... 3,566
----------

SEPARATE ACCOUNTS LIABILITIES................................................. 13,042
----------

LONG-TERM BORROWINGS.......................................................... 78,524
----------

TOTAL LIABILITIES............................................................. 422,395
----------

PREFERRED SECURITIES ISSUED BY SUBSIDIARIES................................... 2,658
----------

STOCKHOLDERS' EQUITY

PREFERRED STOCKHOLDERS' EQUITY (42,500 shares issued and outstanding,
liquidation preference $10,000 per share).................................. 425
----------

COMMON STOCKHOLDERS' EQUITY
Shares exchangeable into common stock....................................... 58
Common stock, par value $1.33 1/3 per share;
authorized: 3,000,000,000 shares;
issued: 983,502,078 shares................................................. 1,311
Paid-in capital............................................................. 5,315
Accumulated other comprehensive loss (net of tax)........................... (570)
Retained earnings........................................................... 18,072
----------
24,186
Less: Treasury stock, at cost: 116,211,158 shares............................ 961
Unamortized employee stock grants.................................... 775
----------

TOTAL COMMON STOCKHOLDERS' EQUITY............................................. 22,450
----------

TOTAL STOCKHOLDERS' EQUITY.................................................... 22,875
----------

TOTAL LIABILITIES, PREFERRED SECURITIES ISSUED BY SUBSIDIARIES,
AND STOCKHOLDERS' EQUITY................................................. $447,928
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