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Form 10-K/A Washington Mutual, Inc UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K/A Amendment No. 1 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2005 Commission File Number 1-14667 WASHINGTON MUTUAL, INC. (Exact nameof registrant as specified in its charter) Washington 91-1653725 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification Number) 1201 Third Avenue, Seattle, Washington 98101 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code: (206) 461-2000 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: Title of each class Name of each exchange on which registered Litigation Tracking Warrants™ NASDAQ Indicate by check mark if the registrant is a well-known seasoned issuer as defined inRule 405 of the Securities Act. Yes # No " . Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes " No # . Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for thepast 90 days. Yes # No " . Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. " . Indicate by checkmark whether the registrant is alarge accelerated filer,anaccelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer # Accelerated filer " Non-accelerated filer " . Indicate by check mark whether the registrant is ashell company (as defined in Rule12b-2 of the Exchange Act). Yes " No # . The aggregate market value of voting stock held by non-affiliates of the registrant as of June 30, 2005, based on the closing sale price as reported on the New York Stock Exchange: Common Stock – $35,345,279,226(1) (1) Does not include any value attributable to 6,000,000 shares held in escrow. The number of shares outstanding of the issuer’s classes of common stock as of February 28, 2006: Common Stock –992,254,791(2) (2) Includes 6,000,000 shares held in escrow. DocumentsIncorporated by Reference Portions of the definitive proxy statement for the Annual Meeting of Shareholders to be held April 18, 2006,are incorporated by reference into Part III. WASHINGTON MUTUAL, INC. 2005 ANNUAL REPORT ON FORM 10-K/A TABLE OF CONTENTS Page PART I....................................................................................... 1 Item 1.Business.......................................................................... 1 Overview ....................................................................... 1 AvailableInforma tion............................................................ 2 Employees. ..................................................................... 2 Factors That MayAffectFuture Results .............................................. 2 Environmental Regulation. ........................................................ 6 Regulation and Supervision ........................................................ 6 ExecutiveOfficers. ............................................................... 11 Item 1A. Risk Factors. ...................................................................... 2 Item 1B. Unresolved S taff Comments (1) ........................................................ – Item 2.Properties........................................................................ 13 Item 3.Legal Proceedings .................................................................. 13 Item 4.Submission ofMatterstoa Vote of Security Holders ...................................... 14 PART II ...................................................................................... 14 Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. ................................................................ 14 Item 6.Selected FinancialData............................................................. 24 Item 7. Management’s Discussion a nd Analysis of Financial Condition and Results of Operations ........ 15 Controls andProcedures.......................................................... 16 Overview ....................................................................... 16 Critical Accounting Estimates...................................................... 1 8 Recently Issued Accounting Standards ............................................... 22 Five-Year Summary of Selected FinancialData........................................ 24 Ratiosand Other Supplemental Data ................................................ 25 Earnings Performance fromContinuing Operations .................................... 26 Review of FinancialCondition. ..................................................... 35 OperatingSegments.............................................................. 38 Risk Management. ............................................................... 49 Credit Risk Management .......................................................... 50 Liquidity Risk Management........................................................ 65 Off-Balance Sheet Activities and Contractual Obligations................................ 46 CapitalAdequacy ................................................................ 48 MarketRisk Management......................................................... 66 Maturity and RepricingInformation ................................................. 72 Operational Risk Management ..................................................... 71 TaxContingency................................................................. 79 Goodwill Litigation............................................................... 79 Item 7A.Quantitative andQualitative Disclosures about Market Risk. ............................... 66 Item 8. Financial Statements and Supplementary Data. .......................................... 85 Item 9.Changes in and Disagreements withAccountants on Accountingand Financial Disclosure........ 85 Item 9A. Controlsand Procedures. ............................................................ 16 Item 9B. Other Information. ................................................................. 85 PART III ..................................................................................... 85 Item 10. Directors and Executive Officers of the Registrant. ....................................... 85 Item 11. ExecutiveCompensation............................................................ 85 Item 12. Security Ownership of Certain Beneficial Owners and Management andRelated Stockholder Matters........................................................................ 85 Item 13. Certain Relationships and Related Transactions.......................................... 85 Item 14. Principal AccountantFees and Services. ................................................ 85 PART IV ..................................................................................... 86 Item 15. Exhibits, FinancialStatementSchedules ................................................ 86 (1) Not applicable. i Explanatory Note Washington Mutual, Inc. (“Washington Mutual” or the “Company”) is filingthis Amendment No. 1 to its Annual Report on Form 10-K for the year ended December 31, 2005as the result of a recently completed reconciliation project of the Company’s current and deferred income tax accounts that resulted in a$337 million reduction toretained earnings, representing cumulativeadjustments to net incomein prior periods uptoand including 2001.No adjustments were made tonet income or earnings pershare for any of the periods from 2002 through June30, 2006. Accordingly, these adjustments affected the balance of retained earnings and certain tax accounts at December 31, 2001 and each period thereafter. This Amendment No. 1 on Form 10-K/A amends: • Item 7 (Management’s Discussion and Analysis of Financial Condition and Results of Operations) to reflect the changes to the Five-Year Summary of Selected Financial Data (page 24), Ratios and Other Supplemental Data (page 25), Earnings Performance from Continuing Operations (page 26) and Capital Adequacy (page48). • Item 8 (Financial Statements and Supplementary Data) to reflect changes to the Company’s financial statements and notes thereto, including, but not limited to, the Consolidated Statements of Financial Condition, the Consolidated Statements of Stockholders’ Equity and Comprehensive Income and Note 2 to the Consolidated Financial Statements –“Restatement of Financial Statements,” and the inclusion of the reissued report of the Company’s independent auditors. Except for Items 7 and 8 of Part II, no other information in the Form 10-K is being amended by this Amendment. This Amendment continues tospeak as of the date of the original filing of the Form 10-K and the Company has not
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