Bank of America 2004 Annual Report Download - page 133

132 BANK OF AMERICA 2004
The following table presents the monthly share repurchase activity for the three months and years ended December 31, 2004, 2003 and
2002, including total common shares repurchased under announced programs, weighted average per share price and the remaining buyback
authority under announced programs.
Number of Common Remaining Buyback Authority
(Dollars in millions, except per share Shares Repurchased under Weighted Average under Announced Programs(2)
information; shares in thousands) Announced Programs(1) Per Share Price(1) Dollars Shares
■■■■■■■■■■
Three months ended March 31, 2004 24,306 $ 40.03 $ 12,378 204,178
Three months ended June 30, 2004 49,060 41.07 7,978 155,118
Three months ended September 30, 2004 40,430 43.56 6,217 114,688
■■■■■■■■■■
October 1-31, 2004 16,102 44.24 5,505 98,586
November 1-30, 2004 11,673 45.84 4,969 86,913
December 1-31, 2004 6,288 46.32 4,678 80,625
Three months ended December 31, 2004 34,063 45.17
Year ended December 31, 2004 147,859 42.52
Number of Common Remaining Buyback Authority
(Dollars in millions, except per share Shares Repurchased under Weighted Average under Announced Programs(4)
information; shares in thousands) Announced Programs(3) Per Share Price(3) Dollars Shares
■■■■■■■■■■
Three months ended March 31, 2003 36,800 $34.24 $13,930 270,370
Three months ended June 30, 2003 60,600 37.62 10,610 209,770
Three months ended September 30, 2003 50,230 40.32 8,585 159,540
■■■■■■■■■■
October 1-31, 2003 13,800 40.28 8,029 145,740
November 1-30, 2003 64,212 37.68 5,610 81,528
December 1-31, 2003 33,044 38.10 4,351 48,484
Three months ended December 31, 2003 111,056 38.13
Year ended December 31, 2003 258,686 37.88
Number of Common Remaining Buyback Authority
(Dollars in millions, except per share Shares Repurchased under Weighted Average under Announced Programs(6)
information; shares in thousands) Announced Programs(5) Per Share Price(5) Dollars Shares
■■■■■■■■■■
Three months ended March 31, 2002 62,414 $31.33 $ 8,200 202,556
Three months ended June 30, 2002 102,430 36.36 4,476 100,126
Three months ended September 30, 2002 33,556 33.31 3,359 66,570
■■■■■■■■■■
October 1-31, 2002 15,200 34.29 2,837 51,370
November 1-30, 2002 4,200 35.02 2,690 47,170
December 1-31, 2002 – – 2,690 47,170
Three months ended December 31, 2002 19,400 34.45
Year ended December 31, 2002 217,800 34.28
(1) Reduced Shareholders’ Equity by $6.3 billion and increased diluted earnings per common share by $0.06 in 2004. These repurchases were partially offset by the issuance of approximately 121 million
shares of common stock under employee plans, which increased Shareholders’ Equity by $3.9 billion, net of $127 of deferred compensation related to restricted stock awards, and decreased diluted
earnings per common share by $0.06 in 2004.
(2) On January 22, 2003, the Board authorized a stock repurchase program of up to 260 million shares of the Corporation’s common stock at an aggregate cost of $12.5 billion. This repurchase plan was
completed during the second quarter of 2004. On January 28, 2004, the Board authorized a stock repurchase program of up to 180 million shares of the Corporation’s common stock at an aggregate
cost not to exceed $9.0 billion and to be completed within a period of 18 months.
(3) Reduced Shareholders’ Equity by $9.8 billion and increased diluted earnings per common share by $0.11 in 2003. These repurchases were partially offset by the issuance of approximately 139 million
shares of common stock under employee plans, which increased Shareholders’ Equity by $4.2 billion, net of $123 of deferred compensation related to restricted stock awards, and decreased diluted
earnings per common share by $0.08 in 2003.
(4) On December 11, 2001, the Board authorized a stock repurchase program of up to 260 million shares of the Corporation’s common stock at an aggregate cost of up to $10.0 billion. This repurchase
plan was completed during the second quarter of 2003. On January 22, 2003, the Board authorized a stock repurchase program of up to 260 million shares of the Corporation’s common stock at an
aggregate cost of $12.5 billion. This repurchase plan was completed during the second quarter of 2004.
(5) Reduced Shareholders’ Equity by $7.5 billion and increased diluted earnings per common share by $0.11 in 2002. These repurchases were partially offset by the issuance of approximately 100 million
shares of common stock under employee plans, which increased Shareholders’ by $2.6 billion and decreased diluted earnings per common share by $0.06 in 2002.
(6) On July 26, 2000, the Board authorized a stock repurchase program of up to 200 million shares of the Corporation’s common stock at an aggregate cost of up to $7.5 billion. This repurchase plan was
completed during the first quarter of 2002. On December 11, 2001, the Board authorized a stock repurchase program of up to 260 million shares of the Corporation’s common stock at an aggregate
cost of up to $10.0 billion. This repurchase plan was completed during the second quarter of 2003.