Bank of America 2001 Annual Report Download - page 82

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BANK OF AMERICA 2001 ANNUAL REPORT
80
Consolidated Statement of Changes in Shareholders’ Equity
Bank of America Corporation and Subsidiaries
Accumulated Total
Other Share-
Preferred Common Stock Retained Comprehensive holders’ Comprehensive
(Dollars in millions, shares in thousands)
Stock Shares Amount Earnings Income (Loss)
(1)
Other Equity Income
Balance, December 31, 1998 $83 1,724,484 $14,837 $30,998 $ 152 $ (132) $45,938
Net income 7,882 7,882 $ 7,882
Other comprehensive loss, net of tax:
Net unrealized losses on
available-for-sale and marketable
equity securities (2,773) (2,773) (2,773)
Net unrealized losses on foreign
currency translation adjustments (37) (37) (37)
Comprehensive income $ 5,072
Cash dividends:
Common (3,193) (3,193)
Preferred (6) (6)
Common stock issued under
employee plans 30,501 1,423 (265) 1,158
Common stock repurchased (78,000) (4,858) (4,858)
Conversion of preferred stock (6) 284 6
Other 4 263 58 321
Balance, December 31, 1999 $77 1,677,273 $ 11,671 $35,681 $(2,658) $ (339) $44,432
Net income 7,517 7,517 $ 7,517
Other comprehensive income, net of tax:
Net unrealized gains on
available-for-sale and marketable
equity securities 1,910 1,910 1,910
Net unrealized gains on foreign
currency translation adjustments 2 2 2
Comprehensive income $ 9,429
Cash dividends:
Common (3,382) (3,382)
Preferred (6) (6)
Common stock issued under
employee plans 3,781 68 226 294
Common stock repurchased (67,577) (3,256) (3,256)
Conversion of preferred stock (5) 177 5
Other (22) 125 5 (13) 117
Balance, December 31, 2000 $72 1,613,632 $ 8,613 $ 39,815 $ (746) $ (126) $47,628
Net income 6,792 6,792 $ 6,792
Other comprehensive income, net of tax:
Net unrealized gains on
available-for-sale and marketable
equity securities 80 80 80
Net unrealized gains on foreign
currency translation adjustments 15 15 15
Net gains on derivatives 1,088 1,088 1,088
Comprehensive income $ 7,975
Cash dividends:
Common (3,627) (3,627)
Preferred (5) (5)
Common stock issued under
employee plans 27,301 1,059 62 1,121
Common stock repurchased (81,939) (4,716) (4,716)
Conversion of preferred stock (7) 298 7
Other 5 113 5 26 144
Balance, December 31, 2001 $65 1,559,297 $ 5,076 $42,980 $ 437 $ (38) $48,520
(1) Accumulated Other Comprehensive Income (Loss) consists of the after-tax valuation allowance for available-for-sale and marketable equity securities of $(480),
$(560) and $(2,470) at December 31, 2001, 2000, and 1999, respectively; foreign currency translation adjustments of $(171), $(186) and $(188) at December 31, 2001,
2000, and 1999, respectively; and net gains on derivatives of $1,088 at December 31, 2001.
See accompanying notes to consolidated financial statements.