Bank of America 2001 Annual Report Download - page 101

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BANK OF AMERICA 2001 ANNUAL REPORT
99
Note 10 Short-Term Borrowings and Long-Term Debt
The contractual maturities of long-term debt at December 31, 2001 and 2000 were:
2001 2000
Various Various
Fixed-Rate Debt Floating-Rate Debt Amount Amount
(Dollars in millions)
Obligations
(1)
Obligations
(1)
Outstanding Outstanding
Parent company
Senior debt:
Due in 2001 $– $– $– $4,101
Due in 2002 133 3,185 3,318 3,288
Due in 2003 499 2,380 2,879 2,791
Due in 2004 – 6,505 6,505 3,853
Due in 2005 150 2,942 3,092 3,072
Due in 2006 176 3,713 3,889 1,406
Thereafter 71 3,801 3,872 3,453
1,029 22,526 23,555 21,964
Subordinated debt:
Due in 2001 –––1,342
Due in 2002 2,199 26 2,225 2,225
Due in 2003 1,711 323 2,034 2,034
Due in 2004 650 – 650 650
Due in 2005 1,085 35 1,120 1,145
Due in 2006 800 820 1,620 1,626
Thereafter 3,481 9,591 13,072 8,060
9,926 10,795 20,721 17,082
Total parent company long-term debt 10,955 33,321 44,276 39,046
Bank and other subsidiaries
Senior debt:
Due in 2001 –––13,610
Due in 2002 393 5,656 6,049 6,017
Due in 2003 520 1,763 2,283 2,283
Due in 2004 12 4,018 4,030 4,028
Due in 2005 10 1,650 1,660 1,660
Due in 2006 – 3,494 3,494 –
Thereafter 99 167 266 262
1,034 16,748 17,782 27,860
Subordinated debt:
Due in 2001 –––200
Due in 2002 ––––
Due in 2003 100 – 100 100
Due in 2004 300 – 300 300
Due in 2005 ––––
Due in 2006 ––––
Thereafter –888
400 8 408 608
Total bank and other subsidiaries long-term debt 1,434 16,756 18,190 28,468
Total parent company, bank and other subsidiaries long-term debt $12,389 $50,077 62,466 67,514
Notes payable to finance the purchase of leased vehicles –2
Obligations under capital leases 30 31
Total long-term debt $62,496 $67,547
(1) Fixed-rate and floating-rate classifications of long-term debt include the effect of interest rate swap contracts.
The majority of the floating rates are based on three- and six-month London InterBank Offered Rates (LIBOR). At December 31, 2001, the interest rates
on floating-rate long-term debt ranged from 1.91 percent to 3.55 percent compared to 4.84 percent to 8.64 percent at December 31, 2000. These
obligations were denominated primarily in U.S. dollars. The interest rates on fixed-rate long-term debt ranged from 2.13 percent to 10.88 percent
and 5.16 percent to 12.50 percent at December 31, 2001 and 2000, respectively.
Bank of America Corporation had the authority to issue approximately $11.0 billion and $13.8 billion of additional corporate debt and other secu-
rities under its existing shelf registration statements at December 31, 2001 and 2000, respectively.