Bank of America 2008 Annual Report Download - page 119

Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
December 31
(Dollars in millions) 2008 2007
Assets
Cash and cash equivalents $ 32,857 $ 42,531
Time deposits placed and other short-term investments 9,570 11,773
Federal funds sold and securities purchased under agreements to resell (includes $2,330 and $2,578 measured at fair value and
$82,099 and $128,887 pledged as collateral) 82,478 129,552
Trading account assets (includes $69,348 and $88,745 pledged as collateral) 159,522 162,064
Derivative assets 62,252 34,662
Debt securities:
Available-for-sale (includes $158,939 and $107,440 pledged as collateral) 276,904 213,330
Held-to-maturity, at cost (fair value – $685 and $726) 685 726
Total debt securities 277,589 214,056
Loans and leases (includes $5,413 and $4,590 measured at fair value and $166,891 and $115,285 pledged as collateral) 931,446 876,344
Allowance for loan and lease losses (23,071) (11,588)
Loans and leases, net of allowance 908,375 864,756
Premises and equipment, net 13,161 11,240
Mortgage servicing rights (includes $12,733 and $3,053 measured at fair value) 13,056 3,347
Goodwill 81,934 77,530
Intangible assets 8,535 10,296
Loans held-for-sale (includes $18,964 and $15,765 measured at fair value) 31,454 34,424
Other assets (includes $29,906 and $25,323 measured at fair value) 137,160 119,515
Total assets $1,817,943 $1,715,746
Liabilities
Deposits in domestic offices:
Noninterest-bearing $ 213,994 $ 188,466
Interest-bearing (includes $1,717 and $2,000 measured at fair value) 576,938 501,882
Deposits in foreign offices:
Noninterest-bearing 4,004 3,761
Interest-bearing 88,061 111,068
Total deposits 882,997 805,177
Federal funds purchased and securities sold under agreements to repurchase 206,598 221,435
Trading account liabilities 57,287 77,342
Derivative liabilities 30,709 22,423
Commercial paper and other short-term borrowings 158,056 191,089
Accrued expenses and other liabilities (includes $1,978 and $660 measured at fair value and $421 and $518 of reserve for unfunded
lending commitments) 36,952 53,969
Long-term debt 268,292 197,508
Total liabilities 1,640,891 1,568,943
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 – 8,202,042 and 185,067 shares 37,701 4,409
Common stock and additional paid-in capital, $0.01 par value; authorized – 10,000,000,000 and 7,500,000,000 shares; issued and
outstanding – 5,017,435,592 and 4,437,885,419 shares 76,766 60,328
Retained earnings 73,823 81,393
Accumulated other comprehensive income (loss) (10,825) 1,129
Other (413) (456)
Total shareholders’ equity 177,052 146,803
Total liabilities and shareholders’ equity $1,817,943 $1,715,746
See accompanying Notes to Consolidated Financial Statements.
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