Bank of America 2005 Annual Report Download - page 201

BANK OF AMERICA CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements—(Continued)
Consolidated Statement of Cash Flows
Nine Months Ended September 30
2005 2004
(Dollars in millions) As Previously Reported Restated As Previously Reported Restated
Operating activities
Netincome ............................................... $ 13,118 $ 12,891 $ 10,294 $ 10,092
Reconciliation of net income to net cash provided by (used in)
operating activities:
Provision for credit losses ............................... 2,614 2,614 2,063 2,063
Gains on sales of debt securities ......................... (1,013) (1,013) (2,022) (1,623)
Depreciation and premises improvements amortization ..... 716 716 723 723
Amortization of intangibles ............................. 613 613 455 455
Deferred income tax expense (benefit) .................... 262 126 (402) (524)
Net increase in trading and derivative instruments ........ (10,305) (10,503) (21,396) (22,153)
Net increase in other assets ............................. (3,330) (3,130) (590) (590)
Net decrease in accrued expenses and other liabilities ...... (6,015) (6,015) (7,919) (7,919)
Other operating activities, net ........................... (6,994) (6,718) (1,043) 20
Net cash used in operating activities .................. (10,334) (10,419) (19,837) (19,456)
Investing activities
Net decrease in time deposits placed and other short-term
investments ............................................ 1,125 1,125 193 193
Net increase in federal funds sold and securities purchased under
agreements to resell ..................................... (44,049) (44,049) (17,090) (17,090)
Proceeds from sales of available-for-sale securities ............. 143,079 143,079 77,860 88,425
Proceeds from maturities of available-for-sale securities ........ 24,378 24,378 19,710 19,710
Purchases of available-for-sale securities ..................... (202,053) (202,053) (165,359) (176,323)
Proceeds from maturities of held-to-maturity securities ......... 194 194 63 63
Proceeds from sales of loans and leases ....................... 13,059 13,059 3,192 3,192
Other changes in loans and leases, net ....................... (48,730) (48,763) (18,938) (18,942)
Additions to mortgage servicing rights, net .................... (663) (663) (841) (841)
Net purchases of premises and equipment .................... (858) (858) (970) (970)
Proceeds from sales of foreclosed properties ................... 101 101 145 145
Investment in China Construction Bank ...................... (2,500) (2,500) ——
Net cash (paid in) acquired in business acquisitions ............ (118) — 5,593 5,615
Other investing activities, net ............................... 83 83 788 788
Net cash used in investing activities .................. (116,952) (116,867) (95,654) (96,035)
Financing activities
Net increase in deposits .................................... 7,907 7,907 37,111 37,111
Net increase in federal funds purchased and securities sold under
agreements to repurchase ................................. 97,312 97,312 59,003 59,003
Net increase in commercial paper and other short-term
borrowings ............................................. 29,057 29,057 20,424 20,424
Proceeds from issuance of long-term debt ..................... 17,813 17,813 19,080 19,080
Retirement of long-term debt ................................ (13,076) (13,076) (11,286) (11,286)
Proceeds from issuance of common stock ...................... 2,215 2,215 2,729 2,729
Common stock repurchased ................................. (4,281) (4,281) (4,749) (4,749)
Cashdividendspaid ....................................... (5,672) (5,672) (4,640) (4,640)
Other financing activities, net ............................... (104) (104) (41) (41)
Net cash provided by financing activities .............. 131,171 131,171 117,631 117,631
Effect of exchange rate changes on cash and cash equivalents . . . (50) (50) 28 28
Net increase in cash and cash equivalents .................... 3,835 3,835 2,168 2,168
Cash and cash equivalents at January 1 ...................... 28,936 28,936 27,084 27,084
Cash and cash equivalents at September 30 ... $ 32,771 $ 32,771 $ 29,252 $ 29,252
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