Santander Consumer USA Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year December 31, 2017; Reports Net Charge Offs for the Fourth Quarter of 2017
For the year, the company reported total finance and other interest income of $6,564,020,000 against $6,529,596,000 a year ago. Net finance and other interest income after provision for credit losses was $2,063,412,000 against $2,258,453,000 a year ago. Net finance and other interest income after provision for credit losses and profit sharing was $2,033,844,000 against $2,210,637,000 a year ago. Income before income taxes was $823,514,000 against $1,160,711,000 a year ago. Net income was $766,466,000 against $824,040,000 a year ago. Net income per diluted share was $3.30 against $2.13 a year ago. Return on average assets was 3.0% against 2.0% a year ago. Return on average equity was 21.0% against 15.8% a year ago. Adjusted pre-tax income, excluding significant items was $944,702,000 and adjusted net income, excluding significant items was $626,962,000 or $1.74 per diluted share.
Net charge offs for the fourth quarter of 2017 was $671,418,000 against $674,442,000 a year ago.