Bank of America 2007 Annual Report Download - page 117

Download and view the complete annual report

Please find page 117 of the 2007 Bank of America annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 179

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179

Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
December 31
(Dollars in millions) 2007 2006
Assets
Cash and cash equivalents
$ 42,531
$ 36,429
Time deposits placed and other short-term investments
11,773
13,952
Federal funds sold and securities purchased under agreements to resell (includes $2,578 measured at fair value at December 31, 2007
and $128,887 and $135,409 pledged as collateral)
129,552
135,478
Trading account assets (includes $88,745 and $92,274 pledged as collateral)
162,064
153,052
Derivative assets
34,662
23,439
Debt securities:
Available-for-sale (includes $107,440 and $83,785 pledged as collateral)
213,330
192,806
Held-to-maturity, at cost (fair value – $726 and $40)
726
40
Total debt securities
214,056
192,846
Loans and leases (includes $4,590 measured at fair value at December 31, 2007 and $115,285 and $24,632 pledged as collateral)
876,344
706,490
Allowance for loan and lease losses
(11,588)
(9,016)
Loans and leases, net of allowance
864,756
697,474
Premises and equipment, net
11,240
9,255
Mortgage servicing rights (includes $3,053 and $2,869 measured at fair value)
3,347
3,045
Goodwill
77,530
65,662
Intangible assets
10,296
9,422
Other assets (includes $41,088 measured at fair value at December 31, 2007)
153,939
119,683
Total assets
$1,715,746
$1,459,737
Liabilities
Deposits in domestic offices:
Noninterest-bearing
$ 188,466
$ 180,231
Interest-bearing (includes $2,000 measured at fair value at December 31, 2007)
501,882
418,100
Deposits in foreign offices:
Noninterest-bearing
3,761
4,577
Interest-bearing
111,068
90,589
Total deposits
805,177
693,497
Federal funds purchased and securities sold under agreements to repurchase
221,435
217,527
Trading account liabilities
77,342
67,670
Derivative liabilities
22,423
16,339
Commercial paper and other short-term borrowings
191,089
141,300
Accrued expenses and other liabilities (includes $660 measured at fair value at December 31, 2007 and $518 and $397 of reserve for
unfunded lending commitments)
53,969
42,132
Long-term debt
197,508
146,000
Total liabilities
1,568,943
1,324,465
Commitments and contingencies (Note 9 – Variable Interest Entities and Note 13 – Commitments and Contingencies)
Shareholders’ equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 185,067 and 121,739 shares
4,409
2,851
Common stock and additional paid-in capital, $0.01 par value; authorized – 7,500,000,000 shares; issued and outstanding – 4,437,885,419
and 4,458,151,391 shares
60,328
61,574
Retained earnings
81,393
79,024
Accumulated other comprehensive income (loss)
1,129
(7,711)
Other
(456)
(466)
Total shareholders’ equity
146,803
135,272
Total liabilities and shareholders’ equity
$1,715,746
$1,459,737
See accompanying Notes to Consolidated Financial Statements.
Bank of America 2007
115