Bank of America 2005 Annual Report Download - page 200

BANK OF AMERICA CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements—(Continued)
Consolidated Statement of Cash Flows
Six Months Ended June 30
2005 2004
(Dollars in millions) As Previously Reported Restated As Previously Reported Restated
Operating activities
Netincome ............................................... $ 8,991 $ 9,050 $ 6,530 $ 5,989
Reconciliation of net income to net cash provided by (used in)
operating activities:
Provision for credit losses ............................... 1,455 1,455 1,413 1,413
Gains on sales of debt securities ......................... (984) (984) (1,290) (1,290)
Depreciation and premises improvements amortization ..... 478 478 477 477
Amortization of intangibles ............................. 412 412 255 255
Deferred income tax expense (benefit) .................... 391 425 (11) (335)
Net increase in trading and derivative instruments ........ (7,014) (6,897) (9,799) (10,444)
Net increase in other assets ............................. (299) (299) (281) (281)
Net decrease in accrued expenses and other liabilities ...... (5,869) (5,869) (7,800) (7,800)
Other operating activities, net ........................... (4,858) (5,150) (669) 842
Net cash used in operating activities .................. (7,297) (7,379) (11,175) (11,174)
Investing activities
Net decrease in time deposits placed and other short-term
investments ............................................ 2,679 2,679 796 796
Net (increase) decrease in federal funds sold and securities
purchased under agreements to resell ...................... (57,927) (57,927) 6,043 6,043
Proceeds from sales of available-for-sale securities ............. 140,666 132,006 37,729 37,729
Proceeds from maturities of available-for-sale securities ........ 14,794 21,808 12,215 12,215
Purchases of available-for-sale securities ..................... (192,401) (190,755) (123,771) (123,771)
Proceeds from maturities of held-to-maturity securities ......... 156 156 55
Proceeds from sales of loans and leases ....................... 12,221 12,221 2,002 2,002
Other changes in loans and leases, net ....................... (21,540) (21,574) (3,497) (3,498)
Additions to mortgage servicing rights, net .................... (407) (407) (662) (662)
Net purchases of premises and equipment .................... (563) (563) (585) (585)
Proceeds from sales of foreclosed properties ................... 58 58 97 97
Net cash (paid for) acquired in business acquisitions ........... (116) — 5,608 5,608
Other investing activities, net ............................... 306 306 (138) (138)
Net cash used in investing activities .................. (102,074) (101,992) (64,158) (64,159)
Financing activities
Net increase in deposits .................................... 16,847 16,847 21,266 21,266
Net increase in federal funds purchased and securities sold under
agreements to repurchase ................................. 87,969 87,969 35,275 35,275
Net increase in commercial paper and other short-term
borrowings ............................................. 15,165 15,165 22,000 22,000
Proceeds from issuance of long-term debt ..................... 7,806 7,806 12,648 12,648
Retirement of long-term debt ................................ (7,714) (7,714) (7,385) (7,385)
Proceeds from issuance of common stock ...................... 1,927 1,927 2,052 2,052
Common stock repurchased ................................. (3,819) (3,819) (2,988) (2,988)
Cashdividendspaid ....................................... (3,649) (3,649) (2,802) (2,802)
Other financing activities, net ............................... (58) (58) (9) (9)
Net cash provided by financing activities .............. 114,474 114,474 80,057 80,057
Effect of exchange rate changes on cash and cash equivalents . . . (104) (104) (19) (19)
Net increase in cash and cash equivalents .................... 4,999 4,999 4,705 4,705
Cash and cash equivalents at January 1 ...................... 28,936 28,936 27,084 27,084
Cash and cash equivalents at June 30 ......... $ 33,935 $ 33,935 $ 31,789 $ 31,789
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