Bank of America 2005 Annual Report Download - page 188

BANK OF AMERICA CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements—(Continued)
Note 21—Parent Company Information
The following tables present the Parent Company Only financial information:
Condensed Statement of Income
Year Ended December 31
(Dollars in millions) 2005 2004 (Restated) 2003 (Restated)
Income
Dividends from subsidiaries:
Bank subsidiaries ......................................................... $10,400 $ 8,100 $ 8,950
Other subsidiaries ........................................................ 63 133 34
Interest from subsidiaries ...................................................... 2,581 1,085 610
Otherincome ................................................................ 1,719 2,463 2,717
Total income ........................................................... 14,763 11,781 12,311
Expense
Interest on borrowed funds ..................................................... 3,843 2,876 2,153
Noninterest expense .......................................................... 2,636 2,057 2,310
Total expense .......................................................... 6,479 4,933 4,463
Income before income taxes and equity in undistributed earnings of subsidiaries ...... 8,284 6,848 7,848
Income tax benefit ............................................................ 791 360 596
Income before equity in undistributed earnings of subsidiaries ...................... 9,075 7,208 8,444
Equity in undistributed earnings of subsidiaries:
Bank subsidiaries ......................................................... 6,518 6,165 2,224
Other subsidiaries ........................................................ 872 574 94
Total equity in undistributed earnings of subsidiaries ............... 7,390 6,739 2,318
Net income ................................................................. $16,465 $13,947 $10,762
Net income available to common shareholders .............................. $16,447 $13,931 $10,758
Condensed Balance Sheet
December 31
(Dollars in millions) 2005 2004 (Restated)
Assets
Cash held at bank subsidiaries .......................................................... $ 49,670 $ 47,138
Securities ............................................................................ 2,285 2,694
Receivables from subsidiaries:
Bank subsidiaries ................................................................. 14,581 10,531
Other subsidiaries ................................................................. 18,766 19,897
Investments in subsidiaries:
Bank subsidiaries ................................................................. 119,210 114,334
Other subsidiaries ................................................................. 2,472 1,499
Other assets .......................................................................... 13,685 14,036
Total assets ..................................................................... $220,669 $210,129
Liabilities and shareholders’ equity
Commercial paper and other short-term borrowings ....................................... $ 19,333 $ 19,611
Accrued expenses and other liabilities .................................................... 7,228 7,124
Payables to subsidiaries:
Bank subsidiaries ................................................................. 1,824 487
Other subsidiaries ................................................................. 2,479 765
Long-term debt ....................................................................... 88,272 81,907
Shareholders’ equity ................................................................... 101,533 100,235
Total liabilities and shareholders’ equity ......................................... $220,669 $210,129
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