Notes to Consolidated Financial Statements
  

Note S - Summarized Financial Information

Summarized financial information for Countrywide Credit Industries, Inc. and subsidiaries was as follows:

 
February 28, 2001 
(Dollar amounts in thousands) 
Countrywide
Credit
Industries,
Inc. 
Countrywide
Home
Loans, Inc. 
Other
Subsidiaries 
Eliminations
Consolidated
Balance Sheets:
Mortgage loans and mortgage-backed securities held for sale 
$ 
$ 
1,964,018 
$ 
$ 
$ 
1,964,018 
Mortgage servicing rights, net 
- 
5,767,748 
- 
- 
5,767,748 
Other assets 
4,343,853 
9,155,120 
8,336,417 
(6,611,649)
15,223,741 
  Total assets 
$ 
4,343,853 
$ 
16,886,886 
$ 
8,336,417 
$ 
(6,611,649)
$ 
22,955,507 
Company-obligated mandatory redeemable capital 
  trust pass-through securities 
$ 
- 
$ 
- 
$ 
500,000 
$ 
- 
$ 
500,000 
Short- and long-term debt 
736,630 
11,435,760 
5,959,565 
(3,187,934)
14,944,021 
Other liabilities 
47,959 
3,068,888 
835,658 
(283)
3,952,222 
Equity 
3,559,264 
2,382,238 
1,041,194 
$ 
(3,423,432)
3,559,264 
  Total liabilities equity 
$ 
4,343,853 
$ 
16,886,886 
$ 
8,336,417 
$ 
(6,611,649)
$ 
22,955,507 
  
 
Year ended February 28, 2001 
(Dollar amounts in thousands) 
Countrywide
Credit
Industries,
Inc. 
Countrywide
Home
Loans, Inc. 
Other
Subsidiaries 
Eliminations
Consolidated
Statements of Earnings:
Revenues 
$ 
(9,649) 
$ 
1,273,529 
$ 
794,846 
$ 
(2,405)
$ 
2,056,321 
Expenses 
7,680 
927,371 
537,640 
(2,405)
1,470,286 
Provision for income taxes 
(6,324)
126,344 
91,862 
- 
211,882 
Equity in net earnings of subsidiaries 
385,158 
- 
- 
(385,158)
- 
  Net earnings 
$ 
374,153 
$ 
219,814 
$ 
165,344 
$ 
(385,158)
$ 
374,153 
  
 
February 29, 2000 
(Dollar amounts in thousands) 
Countrywide
Credit
Industries,
Inc. 
Countrywide
Home
Loans, Inc. 
Other
Subsidiaries 
Eliminations
Consolidated
Balance Sheets:
Mortgage loans and mortgage-backed securities held for sale 
$ 
$ 
2,653,183 
$ 
$ 
$ 
2,653,183 
Mortgage servicing rights, net 
- 
5,396,477 
- 
- 
5,396,477 
Other assets 
3,717,770 
5,240,247 
2,866,833 
(4,052,182)
7,772,668 
  Total assets 
$ 
3,717,770 
$ 
13,289,907 
$ 
2,866,833 
$ 
(4,052,182)
$ 
15,822,328 
Company-obligated mandatorily redeemable capital
  trust pass-through securities 
$ 
$ 
$ 
500,000 
$ 
$ 
500,000 
Short- and long-term debt 
766,697 
8,842,848 
1,041,501 
(868,421)
9,782,625 
Other liabilities 
63,194 
2,014,214 
614,750 
(40,334)
2,651,824 
Equity 
2.887,879 
2,432,845 
710,582 
$ 
(3,143,427)
2,887,879 
  Total liabilities equity 
$ 
3,717,770 
$ 
13,289,907 
$ 
2,866,833 
$ 
(4.052,182)
$ 
15,822,328 
  
 
February 29, 2000 
(Dollar amounts in thousands) 
Countrywide
Credit
Industries,
Inc. 
Countrywide
Home
Loans, Inc. 
Other
Subsidiaries 
Eliminations
Consolidated
Statements of Earnings;
Revenues 
$ 
1,445 
$ 
1,409,832 
$ 
460,129 
$ 
(533)
$ 
1,870,873 
Expenses 
3,614 
923,419 
313,175 
(533)
1,239,675 
Provision for income taxes 
(127)
168,729 
52,353 
- 
220,955 
Equity in net earnings of subsidiaries 
412,285 
- 
- 
(412,285)
- 
  Net earnings 
$ 
410,243 
$ 
317,684 
$ 
94,601 
$ 
(412,285)
$ 
410,243