Bank of America 2002 Annual Report Download - page 75

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Consolidated Balance Sheet
Bank of America Corporation and Subsidiaries
BANK OF AMERICA 2002 73BANK OF AMERICA 2002 73BANK OF AMERICA 2002 73
December 31
(Dollars in millions)
2002 2001
Assets
Cash and cash equivalents $ 24,973 $ 26,837
Time deposits placed and other short-term investments 6,813 5,932
Federal funds sold and securities purchased under agreements to resell
(includes $44,779 and $27,910 pledged as collateral) 44,878 28,108
Trading account assets (includes $35,515 and $22,550 pledged as collateral) 63,996 47,344
Derivative assets 34,310 22,147
Securities:
Available-for-sale (includes $32,919 and $37,422 pledged as collateral) 68,122 84,450
Held-to-maturity, at cost (market value – $1,001 and $1,009) 1,026 1,049
Total securities 69,148 85,499
Loans and leases 342,755 329,153
Allowance for credit losses (6,851) (6,875)
Loans and leases, net of allowance for credit losses 335,904 322,278
Premises and equipment, net 6,717 6,414
Mortgage banking assets 2,110 3,886
Goodwill 11,389 10,854
Core deposit intangibles and other intangibles 1,095 1,294
Other assets 59,125 61,171
Total assets $ 660,458 $ 621,764
Liabilities
Deposits in domestic offices:
Noninterest-bearing $ 122,686 $ 112,064
Interest-bearing 232,320 220,703
Deposits in foreign offices:
Noninterest-bearing 1,673 1,870
Interest-bearing 29,779 38,858
Total deposits 386,458 373,495
Federal funds purchased and securities sold under agreements to repurchase 65,079 47,727
Trading account liabilities 25,574 19,452
Derivative liabilities 23,566 14,868
Commercial paper and other short-term borrowings 25,234 22,217
Accrued expenses and other liabilities 17,052 27,459
Long-term debt 61,145 62,496
Trust preferred securities 6,031 5,530
Total liabilities 610,139 573,244
Commitments and contingencies (Note Thirteen)
Shareholders’ equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and
outstanding – 1,356,749 and 1,514,478 shares 58 65
Common stock, $0.01 par value; authorized – 5,000,000,000 shares; issued and
outstanding – 1,500,691,103 and 1,559,297,220 shares 496 5,076
Retained earnings 48,517 42,980
Accumulated other comprehensive income 1,232 437
Other 16 (38)
Total shareholders’ equity 50,319 48,520
Total liabilities and shareholders’ equity $ 660,458 $ 621,764
See accompanying notes to consolidated financial statements.