Bank of America 2005 Annual Report Download - page 131

BANK OF AMERICA CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements—(Continued)
Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
December 31, 2004
(Dollars in millions)
As
Previously
Reported Restated
Loans and leases, net of allowance for loan and lease losses ................................. $ 513,211 $ 513,187
Total assets ........................................................................... 1,110,457 1,110,432
Accrued expenses and other liabilities .................................................... 41,243 41,590
Long-term debt ....................................................................... 98,078 97,116
Total liabilities ........................................................................ 1,010,812 1,010,197
Retainedearnings ..................................................................... 58,006 58,773
Accumulated other comprehensive income (loss) ........................................... (2,587) (2,764)
Total shareholders’ equity .............................................................. 99,645 100,235
Total liabilities and shareholders’ equity ................................................. $1,110,457 $1,110,432
Bank of America Corporation and Subsidiaries
Consolidated Statement of Changes in Shareholders’ Equity
Retained
Earnings(1)
Accumulated
Other
Comprehensive
Income (Loss) Other
Total
Shareholders’
Equity Comprehensive Income
(Dollars in millions)
As
Previously
Reported Restated
As
Previously
Reported Restated
As
Previously
Reported Restated
As
Previously
Reported Restated
As
Previously
Reported Restated
Balance, December 31,
2002 ................ $48,517 $49,528 $ 1,232 $ 1,101 $ 16 $ 16 $50,319 $ 51,199 $ — $ —
Netincome ............ 10,810 10,762 10,810 10,762 10,810 10,762
Net gains (losses) on
derivatives .......... (2,803) (2,959) (2,803) (2,959) (2,803) (2,959)
Balance, December 31,
2003 ................ 50,198 51,162 (2,148) (2,434) (153) (154) 47,980 48,657 7,430 7,227
Netincome ............ 14,143 13,947 14,143 13,947 14,143 13,947
Net gains (losses) on
derivatives .......... (294) (185) (294) (185) (294) (185)
Balance, December 31,
2004 ................ $58,006 $58,773 $(2,587) $(2,764) $(281) $(281) $99,645 $100,235 $13,704 $13,617
(1) The cumulative effect of the restatement adjustments on Retained Earnings as of December 31, 2002 was approximately $1.0
billion.
Bank of America Corporation and Subsidiaries
Consolidated Statement of Cash Flows
Year Ended December 31
2004 2003
(Dollars in millions) As Previously Reported Restated As Previously Reported Restated
Operating activities
Netincome ......................................................... $ 14,143 $ 13,947 $ 10,810 $ 10,762
Gains on sales of debt securities ....................................... (2,123) (1,724) (941) (941)
Deferred income tax benefit ........................................... (402) (519) (263) (295)
Net increase in trading and derivative instruments ...................... (13,180) (13,944) (13,153) (13,639)
Other operating activities, net ........................................ 564 1,647 38 439
Net cash provided by (used in) operating activities ....................... (3,927) (3,522) 23,151 22,986
Investing activities
Proceeds from sales of available-for-sale securities ....................... $107,107 $ 117,672 $ 171,711 $ 171,711
Purchases of available-for-sale securities ............................... (232,609) (243,573) (195,852) (195,852)
Other changes in loans and leases, net ................................. (32,344) (32,350) (74,202) (74,037)
Net cash used in investing activities ................................... (127,149) (127,554) (73,286) (73,121)
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