Santander Holdings USA Inc (SOV) Financial Statements (2024 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)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments12,94112,73510,3229,11210,57413,626
Cash and cash equivalents12,88112,63610,2189,00810,46813,519
Short-term investments6199104104106107
Financing receivable, accrued interest, after allowance for credit loss591567567   
Total current assets:13,53213,30110,8899,11210,57413,626
Noncurrent Assets
Operating lease, right-of-use asset472508533572522509
Property, plant and equipment(2,200)(2,100)910(2,000)(1,900)(1,900)
Long-term investments and receivables300277265226265259
Long-term investments300277265226265259
Intangible assets, net (including goodwill)3,0733,0833,0943,1103,1232,924
Goodwill2,7672,7672,7682,7682,7682,596
Intangible assets, net (excluding goodwill)306316327342355328
Deferred income tax assets249219222186147147
Total noncurrent assets:1,8941,9885,0252,0942,1571,940
Other undisclosed assets155,396162,269152,281155,623152,593138,220
TOTAL ASSETS:170,822177,558168,194166,829165,324153,786
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt15,99521,03415,38315,43616,0044,821
Securities loaned33  4  
Total current liabilities:16,02821,03415,38315,43916,0044,821
Noncurrent Liabilities
Liabilities, other than long-term debt55322389566710715
Deferred income tax liabilities55322389566710715
Total noncurrent liabilities:55322389566710715
Other undisclosed liabilities136,137138,156134,493131,773127,728126,306
Total liabilities:152,220159,512150,265147,778144,442131,841
Temporary equity, carrying amount1,500500500   
Equity
Equity, attributable to parent17,10217,54517,43019,05120,88221,945
Common stock17,28517,28517,28517,28417,29417,292
Accumulated other comprehensive loss(1,223)(1,215)(1,336)(1,341)(1,043)(789)
Retained earnings1,0401,4761,4813,1094,6315,442
Total equity:17,10217,54517,43019,05120,88221,945
TOTAL LIABILITIES AND EQUITY:170,822177,558168,194166,829165,324153,786

Income Statement (P&L) ($ in millions)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues3,0152,7322,4122,0541,8111,683
Net investment income2,9462,6582,3872,0951,7971,655
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
    (640)(409)(229)
Other undisclosed gross profit   1,279   
Gross profit:3,0152,7323,6911,4141,4021,454
Operating expenses(1,557)(1,543)(1,563)(1,574)(1,533)(1,467)
Other operating income, net93107105127115134
Operating income (loss):1,5501,2962,233(34)(16)121
Nonoperating income353835343542
Gain on sale of leased assets, net, operating leases202219202026
Bank owned life insurance income151617151416
Interest and debt expense(1,681)(1,342)(992)(638)(374)(242)
Income (loss) from continuing operations before equity method investments, income taxes:(96)(7)1,276(638)(356)(80)
Other undisclosed income (loss) from continuing operations before income taxes734333(1,155)942901858
Income (loss) from continuing operations before income taxes:639325121304546778
Income tax expense (benefit)(65)(28)2(76)(107)(162)
Income from continuing operations:574297123228439616
Income before gain (loss) on sale of properties:228439616
Net income available to common stockholders, diluted:574297123228439616

Comprehensive Income ($ in millions)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:574297123228439616
Other comprehensive income (loss)(7)1215(299)(253)(601)
Comprehensive income (loss), net of tax, attributable to parent:567418128(71)18515

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.

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