BB&T 2010 Annual Report Download - page 152
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Parent Company
Condensed Statements of Cash Flows
Years Ended December 31, 2010, 2009 and 2008
2010 2009 2008
(Dollars in millions)
Cash Flows From Operating Activities:
Net income $ 854 $ 877 $ 1,529
Adjustments to reconcile net income to net cash provided by operating
activities:
Equity in earnings of subsidiaries in excess of dividends from
subsidiaries (469) (296) (94)
Amortization of intangibles 233
Discount accretion and premium amortization 524
Loss on sales of securities —12 47
Increase in other assets (147) (41) (38)
(Decrease) increase in accounts payable and accrued liabilities (24) 50 7
Other, net (72) (28) 3
Net cash provided by operating activities 149 579 1,461
Cash Flows From Investing Activities:
Proceeds from sales, calls and maturities of securities available for sale 87 33 62
Purchases of securities available for sale (8) (43) (161)
Investment in subsidiaries (113) (2,608) (3,102)
Advances to subsidiaries (37,341) (61,087) (38,168)
Proceeds from repayment of advances to subsidiaries 37,028 61,345 37,242
Net cash used in investing activities (347) (2,360) (4,127)
Cash Flows From Financing Activities:
Net increase in long-term debt 765 3,651 716
Net decrease in short-term borrowed funds (198) (705) (88)
Net increase in advances from subsidiaries 3——
Net proceeds from common stock issued 110 2,727 160
Retirement of preferred stock and warrant —(3,201) —
Proceeds from preferred stock issuance —— 3,134
Cash dividends paid on common and preferred stock (415) (820) (1,019)
Net cash provided by financing activities 265 1,652 2,903
Net Increase (Decrease) in Cash and Cash Equivalents 67 (129) 237
Cash and Cash Equivalents at Beginning of Year 145 274 37
Cash and Cash Equivalents at End of Year $ 212 $ 145 $ 274
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