BB&T 2010 Annual Report Download - page 137

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At December 31, 2010, BB&T’s restricted shares and restricted share units had a weighted-average life of 2.5
years. At December 31, 2010, management estimates that 12.0 million restricted shares and restricted share units
will vest over a weighted-average life of 2.5 years.
Share Repurchase Activity
No shares of common stock were repurchased during 2010, 2009 and 2008. At December 31, 2010, BB&T was
authorized to repurchase an additional 44 million shares under the June 27, 2006 Board of Directors’
authorization.
NOTE 13. Accumulated Other Comprehensive Income (Loss)
The balances in accumulated other comprehensive loss at December 31, 2010 and 2009 are shown in the
following table.
December 31, 2010 December 31, 2009
Pre-Tax
Amount
Deferred
Tax Expense
(Benefit) After-Tax
Amount Pre-Tax
Amount
Deferred
Tax Expense
(Benefit) After-Tax
Amount
(Dollars in millions)
Unrecognized net pension and postretirement
costs $ (587) $(219) $(368) $(447) $(169) $(278)
Unrealized net (losses) gains on cash flow
hedges (75) (28) (47) 173 66 107
Unrealized net losses on securities available
for sale (250) (93) (157) (363) (138) (225)
FDIC's share of unrealized gains on securities
available for sale under the loss share
agreements (1) (281) (105) (176) (30) (11) (19)
Foreign currency translation adjustment (6) (7) 1 (7) (5) (2)
Total $(1,199) $(452) $(747) $(674) $(257) $(417)
(1) Certain securities available for sale are covered by loss sharing agreements with the FDIC. These securities
covered by the loss sharing agreements reflected a net unrealized pre-tax gain of $305 million and $35 million
as of December 31, 2010 and 2009, respectively. The FDIC’s share of this net unrealized pre-tax gain, upon
sale, would have been $281 million and $30 million as of December 31, 2010 and 2009, respectively, and was
recorded as a reduction in other comprehensive income.
As of December 31, 2010 and December 31, 2009, unrealized net losses on securities available for sale
included $115 million and $114 million, respectively, of pre-tax losses related to other-than-temporarily impaired
non-agency mortgage-backed securities where a portion of the loss was recognized in net income.
137