10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2011 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 23, 2012) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Operating activities | |||
| Net income (loss) | $ 1,446 | (2,238) | 6,276 |
| Reconciliation of net income (loss) to net cash provided by operating activities: | |||
| Provision for credit losses | 13,410 | 28,435 | 48,570 |
| Goodwill impairment | 3,184 | 12,400 | 0 |
| Gains on sales of debt securities | (3,374) | (2,526) | (4,723) |
| Depreciation and premises improvements amortization | 1,976 | 2,181 | 2,336 |
| Amortization of intangibles | 1,509 | 1,731 | 1,978 |
| Deferred income taxes | (1,949) | 608 | 370 |
| Net decrease in trading and derivative instruments | 20,230 | 20,775 | 59,822 |
| Net decrease in other assets | 50,230 | 5,213 | 28,553 |
| Net increase (decrease) in accrued expenses and other liabilities | (18,124) | 14,069 | (16,601) |
| Other operating activities, net | (4,048) | 1,946 | 3,150 |
| Net cash provided by operating activities | 64,490 | 82,594 | 129,731 |
| Investing activities | |||
| Net (increase) decrease in time deposits placed and other short-term investments | 105 | (2,154) | 19,081 |
| Net (increase) decrease in federal funds sold and securities borrowed or purchased under agreements to resell | (1,567) | (19,683) | 31,369 |
| Proceeds from sales of available-for-sale debt securities | 120,125 | 100,047 | 164,155 |
| Proceeds from paydowns and maturities of available-for-sale debt securities | 56,732 | 70,868 | 59,949 |
| Purchases of available-for-sale debt securities | (99,536) | (199,159) | (185,145) |
| Proceeds from maturities of held-to-maturity debt securities | 602 | 11 | 2,771 |
| Purchases of held-to-maturity debt securities | (35,552) | (100) | (3,914) |
| Proceeds from sales of loans and leases | 2,409 | 8,046 | 7,592 |
| Other changes in loans and leases, net | (6,059) | (2,550) | 21,257 |
| Net purchases of premises and equipment | (1,307) | (987) | (2,240) |
| Proceeds from sales of foreclosed properties | 2,532 | 3,107 | 1,997 |
| Cash received upon acquisition, net | 0 | 0 | 31,804 |
| Cash received due to impact of adoption of consolidation guidance | 0 | 2,807 | 0 |
| Other investing activities, net | 13,945 | 9,400 | 9,249 |
| Net cash provided by (used in) investing activities | 52,429 | (30,347) | 157,925 |
| Financing activities | |||
| Net increase in deposits | 22,611 | 36,598 | 10,507 |
| Net decrease in federal funds purchased and securities loaned or sold under agreements to repurchase | (30,495) | (9,826) | (62,993) |
| Net decrease in commercial paper and other short-term borrowings | (24,264) | (31,698) | (126,426) |
| Proceeds from issuance of long-term debt | 26,001 | 52,215 | 67,744 |
| Retirement of long-term debt | (101,814) | (110,919) | (101,207) |
| Proceeds from issuance of preferred stock and warrants | 5,000 | 0 | 49,244 |
| Repayment of preferred stock | 0 | 0 | (45,000) |
| Proceeds from issuance of common stock | 0 | 0 | 13,468 |
| Cash dividends paid | (1,738) | (1,762) | (4,863) |
| Other financing activities, net | 3 | 5 | (42) |
| Net cash provided by (used in) financing activities | (104,696) | (65,387) | (199,568) |
| Effect of exchange rate changes on cash and cash equivalents | (548) | 228 | 394 |
| Net increase (decrease) in cash and cash equivalents | 11,675 [1] | (12,912) [2] | 88,482 [3] |
| Cash and cash equivalents at January 1 | 108,427 | 121,339 | 32,857 |
| Cash and cash equivalents at December 31 | 120,102 | 108,427 | 121,339 |
| Supplemental cash flow disclosures | |||
| Interest paid | 25,207 | 21,166 | 37,602 |
| Income taxes paid | 1,653 | 1,465 | 2,964 |
| Income taxes refunded | (781) | (7,783) | (31) |
| [1] During 2011, the Corporation entered into an agreement with Assured Guaranty Ltd. and subsidiaries which resulted in non-cash increases to loans of $2.2 billion, other assets of $82 million and long-term debt of $2.3 billion.During 2011, the Corporation exchanged preferred stock, with a carrying value of $1.1 billion, for 92 million common shares valued at $522 million and senior notes valued at $360 million.During 2011, the Corporation exchanged trust preferred securities for 308 million common shares valu | |||
| [2] During 2010 and 2009, the Corporation securitized $2.4 billion and $14.0 billion of residential mortgage loans into mortgage-backed securities which were retained by the Corporation. There were no residential mortgage loans securitized into mortgage-backed securities which were retained by the Corporation during 2011.During 2010, the Corporation sold First Republic Bank in a non-cash transaction that reduced assets and liabilities by $19.5 billion and $18.1 billion. | |||
| [3] During 2009, the Corporation exchanged $14.8 billion of preferred stock by issuing approximately 1.0 billion in shares of common stock valued at $11.5 billion.During 2009, the Corporation exchanged credit card loans of $8.5 billion and the related allowance for loan and lease losses of $750 million for a $7.8 billion held-to-maturity debt security that was issued by the Corporations U.S. credit card securitization trust and retained by the Corporation.The acquisition-date fair values of non-cash assets acq | |||
| External Links | |
| BANK OF AMERICA CORP /DE/ (BAC) Fiscal Year 2011 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |