About $1.05 billion of the charges, or 61 cents a share, result from loss write-downs of publicly traded and private equity securities that are in the bank's venture capital portfolio, according to the company.
Cabling requirements are likewise shared, resulting in a reduction in the corresponding cost and cable harness weight savings.
Ideally, this process converges to a shared common result.
Expert opinion from various sources is combined using qualitative then quantitative methods with the aim of converging on a shared consensus result.
The results included a charge of about 25 cents a share resulting from the health reform law.
In the quarter a year earlier, profit from the pens' business of $10 million, or a penny a share, resulted in net income of $300 million, or 26 cents a share.
In the period a year ago, the company took charges totaling $120 million, or 19 cents a share, resulting in net income of $582 million, or 88 cents a share.
The company, based in San Francisco, took charges totaling $116 million, or 18 cents a share, resulting in net income of $1.53 billion, or $2.35 a share.
On March 15, the company's board declared a cash dividend of $7.40 a share, resulting in distributions of $772 million to shareholders, primarily Warburg Pincus.
The drugstore chain Duane Reade Inc. said yesterday that it had sold four million shares of its common stock in a public offering at $34.50 a share, resulting in net proceeds of $130.6 million.
