Santander Holdings USA Inc (SOV) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
75 STATE STREET BOSTON, MA 02109 |
| State of Incorp. | VA |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6021 - National Commercial Banks (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 3/31/2025 MRQ | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 18,603 | 13,180 | 10,322 | 19,351 | 12,636 | 7,657 | |||
| Cash and cash equivalent | 18,547 | 13,118 | 10,218 | 19,306 | 12,621 | 7,644 | |||
| Short-term investments | 56 | 61 | 104 | 45 | 14 | 13 | |||
| Financing receivable, accrued interest, after allowance for credit loss | ✕ | ✕ | 661 | 567 | ✕ | ||||
| Total current assets: | 18,603 | 13,841 | 10,889 | 19,351 | 12,636 | 7,657 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 493 | 436 | 533 | 531 | 540 | 656 | |||
| Property, plant and equipment | 987 | 987 | 910 | 856 | 787 | 798 | |||
| Long-term investments and receivables | 262 | 306 | 265 | 260 | 273 | 272 | |||
| Long-term investments | 262 | 306 | 265 | 260 | 273 | 272 | |||
| Intangible assets, net (including goodwill) | 3,016 | 3,054 | 3,094 | 2,935 | 2,954 | 4,861 | |||
| Goodwill | 2,767 | 2,767 | 2,768 | 2,596 | 2,596 | 4,444 | |||
| Intangible assets, net (excluding goodwill) | 249 | 287 | 327 | 339 | 358 | 416 | |||
| Deferred income tax assets | 364 | 234 | 222 | 88 | 11 | 504 | |||
| Total noncurrent assets: | 5,122 | 5,017 | 5,025 | 4,671 | 4,565 | 7,091 | |||
| Other undisclosed assets | 141,523 | 146,115 | 152,281 | 135,800 | 132,232 | 134,752 | |||
| TOTAL ASSETS: | 165,249 | 164,973 | 168,194 | 159,821 | 149,433 | 149,499 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Debt | 16,303 | 16,291 | 15,383 | 5,259 | |||||
| Securities loaned | 0 | ||||||||
| Total current liabilities: | 16,303 | 16,291 | 15,383 | 5,259 | |||||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 84 | 389 | 771 | 182 | 1,521 | ||||
| Deferred income tax liabilities | 84 | 389 | 771 | 182 | 1,521 | ||||
| Total noncurrent liabilities: | 84 | 389 | 771 | 182 | 1,521 | ||||
| Other undisclosed liabilities | 131,270 | 131,097 | 134,493 | 129,324 | 127,988 | 123,580 | |||
| Total liabilities: | 147,573 | 147,472 | 150,265 | 135,354 | 128,170 | 125,101 | |||
| Temporary equity, including noncontrolling interest | 2,000 | 2,000 | 500 | ||||||
| Equity | |||||||||
| Equity, attributable to parent | 15,676 | 15,501 | 17,430 | 22,514 | 19,887 | 22,021 | |||
| Common stock | 17,336 | 17,285 | 17,285 | 17,876 | 17,877 | 17,954 | |||
| Accumulated other comprehensive income (loss) | (718) | (1,066) | (1,336) | (188) | 166 | (88) | |||
| Retained earnings (accumulated deficit) | (943) | (718) | 1,481 | 4,826 | 1,844 | 4,155 | |||
| Equity, attributable to noncontrolling interest | 1,953 | 1,376 | 2,377 | ||||||
| Total equity: | 15,676 | 15,501 | 17,430 | 24,467 | 21,263 | 24,399 | |||
| TOTAL LIABILITIES AND EQUITY: | 165,249 | 164,973 | 168,194 | 159,821 | 149,433 | 149,499 | |||
Income Statement (P&L) ($ in millions)
| 3/31/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 12,598 | 11,681 | 7,971 | 7,087 | 7,742 | 8,278 | ||
| Net investment income | 12,277 | 11,460 | 7,934 | 7,073 | 7,710 | 8,273 | ||
| Cost of revenue (Provision for Loan, Lease, and Other Losses) | (2,824) | (2,292) | ||||||
| Gross profit: | 12,598 | 11,681 | 7,971 | 7,087 | 4,918 | 5,986 | ||
| Operating expenses | (6,274) | (6,327) | (6,137) | (6,144) | (8,208) | (6,366) | ||
| Other operating income, net | 377 | 312 | 481 | 851 | 410 | 302 | ||
| Operating income (loss): | 6,700 | 5,665 | 2,315 | 1,794 | (2,881) | (78) | ||
| Nonoperating income | 134 | 135 | 146 | 504 | 302 | 199 | ||
| Gain on sale of leased assets, net, operating leases | 69 | 66 | 85 | 444 | 243 | 136 | ||
| Bank owned life insurance income | 65 | 68 | 61 | 60 | 59 | 63 | ||
| Interest and debt expense | (33) | (6,480) | (2,247) | (1,103) | (1,661) | (2,207) | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | ||||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 6,801 | (680) | 214 | 1,194 | (4,240) | (2,086) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (5,831) | 1,466 | 1,534 | 3,511 | 3,473 | 3,600 | ||
| Income (loss) from continuing operations before income taxes: | 971 | 787 | 1,748 | 4,705 | (767) | 1,514 | ||
| Income tax expense (benefit) | 107 | 146 | (343) | (1,084) | 111 | (472) | ||
| Income (loss) from continuing operations: | 1,077 | 933 | 1,405 | 3,621 | (656) | 1,042 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | 3,621 | (656) | 1,042 | |
| Net income (loss): | 1,077 | 933 | 1,405 | 3,621 | (656) | 1,042 | ||
| Net loss attributable to noncontrolling interest | (639) | (184) | (289) | |||||
| Net income (loss) available to common stockholders, diluted: | 1,077 | 933 | 1,405 | 2,982 | (840) | 753 | ||
Comprehensive Income ($ in millions)
| 3/31/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 1,077 | 933 | 1,405 | 3,621 | (656) | 1,042 | ||
| Other comprehensive income (loss) | 348 | 270 | (1,148) | (354) | 255 | 233 | ||
| Comprehensive income (loss): | 1,425 | 1,203 | 257 | 3,267 | (402) | 1,275 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (639) | (184) | (289) | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | 1,425 | 1,203 | 257 | 2,628 | (586) | 987 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.