Consolidated Statement of Added Value


Years ended December 31, 2010 and 2009

(In Millions of Reais)

  01/01 a 31/12/2010 % 01/01 a 31/12/2009 %
Income 44,649 41,891
Sales of Products and Services 6,099 5,102
Income from Insurance and Private Pension Operations 4,989 5,007
Interest, Income, Dividends and Provision of Financial Services 36,222 34,859
Result of Loan Losses (4,152) (4,768)
Other 1,491 1,691
Expenses (21,181) (19,685)
Interest and Similar Income (9,742) (7,064)
Claims (4,380) (4,735)
Other (7,059) (7,886)
Inputs Purchased from Third Parties (7,921) (6,612)
Cost of Products and Services (3,624) (3,330)
Materials (166) (107)
Third-Party Services (987) (889)
Other (3,144) (2,286)
Data Processing and Telecommunications (1,103) (841)
Advertising, Promotions and Publications (459) (353)
Installations (570) (347)
Transportation (217) (139)
Security (164) (141)
Travel Expenses (61) (43)
Other (570) (422)
Gross Added Value 15,547 15,594
Depreciation, Amortization and Depletion (1,221) (1,182)
Net Added Value Produced by the Company 14,326 14,412
Added Value Received from Transfer 161 135
Share of Income of Unconsolidated Companies 161 135
Total Added Value to Be Distributed 14,487 14,547
Distribution of Added Value 14,486 100.00% 14,547 100.00%
Personnel 4,465 30.82% 3,987 27.41%
Compensation 3,504 3,398
Benefits 718 404
FGTS – Government Severance Pay Fund 243 185
Taxes, Fees and Contributions 5,300 36.59% 5,896 40.53%
Federal 4,854 5,447
State 200 235
Municipal 246 214
Return on Third Party’s Assets – Rent and Interest 304 2.10% 302 2.08%
Return on Own Assets 4,417 30.49% 4,362 29.98%
Dividends and Interest on Capital Paid/Provided for 1,191 1,407
Retained Earnings for the Year 2,630 2,568
Non-Controlling Interests in Retained Earnings 596 387
The accompanying notes are an integral part of these consolidated financial statements.


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