Bank of America 2005 Annual Report Download - page 157

BANK OF AMERICA CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements—(Continued)
Amortization expense on core deposit intangibles and other intangibles was $809 million, $664 million and $217
million for 2005, 2004, and 2003, respectively. The increase for the year ended December 31, 2005 was primarily due to
the FleetBoston Merger. The Corporation estimates that aggregate amortization expense will be $746 million, $599
million, $486 million, $385 million and $311 million for 2006, 2007, 2008, 2009 and 2010, respectively.
Note 11—Deposits
The Corporation had domestic certificates of deposit of $100 thousand or more totaling $47.0 billion and $56.2 billion
at December 31, 2005 and 2004. The Corporation had other domestic time deposits of $100 thousand or more totaling
$1.4 billion and $1.1 billion at December 31, 2005 and 2004. Foreign certificates of deposit and other foreign time
deposits of $100 thousand or more totaled $38.8 billion and $28.6 billion at December 31, 2005 and 2004.
The following table presents the maturities of domestic and foreign certificates of deposit of $100 thousand or more,
and of other domestic time deposits of $100 thousand or more at December 31, 2005.
(Dollars in millions)
Three
months
or less
Over
three months
to six months
Over
six months to
twelve months Thereafter Total
Domestic certificates of deposit of $100 thousand or more ..... $19,922 $12,271 $8,762 $6,023 $46,978
Domestic other time deposits of $100 thousand or more ....... 99 113 205 991 1,408
Foreign certificates of deposit and other time deposits of $100
thousand or more ...................................... 35,595 1,994 208 989 38,786
At December 31, 2005, the scheduled maturities for total time deposits were as follows:
(Dollars in millions) Domestic Foreign Total
Due in 2006 ........................................................ $ 101,461 $ 60,733 $ 162,194
Due in 2007 ........................................................ 12,103 100 12,203
Due in 2008 ........................................................ 3,521 245 3,766
Due in 2009 ........................................................ 2,650 26 2,676
Due in 2010 ........................................................ 1,856 1 1,857
Thereafter.......................................................... 1,123 1,182 2,305
Total .......................................................... $122,714 $62,287 $185,001
Note 12—Short-term Borrowings and Long-term Debt
Short-term Borrowings
Bank of America Corporation and certain other subsidiaries issue commercial paper in order to meet short-term
funding needs. Commercial paper outstanding at December 31, 2005 was $25.0 billion compared to $25.4 billion at
December 31, 2004.
Bank of America, N.A. maintains a domestic program to offer up to a maximum of $60.0 billion, at any one time, of
bank notes with fixed or floating rates and maturities of at least seven days from the date of issue. Short-term bank
notes outstanding under this program totaled $22.5 billion at December 31, 2005 compared to $9.6 billion at
December 31, 2004. These short-term bank notes, along with Treasury tax and loan notes, term federal funds purchased
and commercial paper, are reflected in Commercial Paper and Other Short-term Borrowings on the Consolidated
Balance Sheet.
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