Bank of America 2008 Annual Report Download - page 120

Bank of America Corporation and Subsidiaries
Consolidated Statement of Changes in Shareholders’ Equity
Preferred
Stock
Common Stock and
Additional Paid-in
Capital Retained
Earnings
Accumulated
Other
Comprehensive
Income
(Loss)
(1)
Other
Total
Shareholders’
Equity
Comprehensive
Income
(Dollars in millions, shares in thousands) Shares Amount
Balance, December 31, 2005 $ 271 3,999,688 $ 41,693 $ 67,552 $ (7,556) $(427) $101,533
Adjustment to initially apply FASB Statement No. 158
(2)
(1,308) (1,308)
Net income 21,133 21,133 $21,133
Net changes in available-for-sale debt and marketable
equity securities 245 245 245
Net changes in foreign currency translation adjustments 269 269 269
Net changes in derivatives 641 641 641
Dividends paid:
Common (9,639) (9,639)
Preferred (22) (22)
Issuance of preferred stock 2,850 2,850
Redemption of preferred stock (270) (270)
Common stock issued under employee plans and related
tax effects 118,418 4,863 (39) 4,824
Stock issued in acquisition
(3)
631,145 29,377 29,377
Common stock repurchased (291,100) (14,359) (14,359)
Other (2) (2) (2)
Balance, December 31, 2006 2,851 4,458,151 61,574 79,024 (7,711) (466) 135,272 22,286
Cumulative adjustment for accounting changes
(4)
:
Leveraged leases (1,381) (1,381)
Fair value option and measurement (208) (208)
Income tax uncertainties (146) (146)
Net income 14,982 14,982 14,982
Net changes in available-for-sale debt and marketable
equity securities 9,269 9,269 9,269
Net changes in foreign currency translation adjustments 149 149 149
Net changes in derivatives (705) (705) (705)
Employee benefit plan adjustments 127 127 127
Dividends paid:
Common (10,696) (10,696)
Preferred (182) (182)
Issuance of preferred stock 1,558 1,558
Common stock issued under employee plans and related
tax effects 53,464 2,544 10 2,554
Common stock repurchased (73,730) (3,790) (3,790)
Balance, December 31, 2007 4,409 4,437,885 60,328 81,393 1,129 (456) 146,803 23,822
Net income
4,008 4,008 4,008
Net changes in available-for-sale debt and marketable
equity securities (8,557) (8,557) (8,557)
Net changes in foreign currency translation adjustments (1,000) (1,000) (1,000)
Net changes in derivatives 944 944 944
Employee benefit plan adjustments (3,341) (3,341) (3,341)
Dividends paid:
Common (10,256) (10,256)
Preferred
(5)
(1,272) (1,272)
Issuance of preferred stock 33,242 33,242
Stock issued in acquisition
(6)
106,776 4,201 4,201
Issuance of common stock 455,000 9,883 9,883
Common stock issued under employee plans and related
tax effects 17,775 854 43 897
Issuance of stock warrants 1,500 1,500
Other 50 (50) –
Balance, December 31, 2008 $37,701 5,017,436 $ 76,766 $ 73,823 $(10,825) $(413) $177,052 $ (7,946)
(1) Amounts shown are net-of-tax. For additional information on accumulated OCI, see Note 14 – Shareholders’ Equity and Earnings Per Common Share to the Consolidated Financial Statements.
(2) Includes accumulated adjustment to apply SFAS 158 of $(1,428) million, net-of-tax, and the reversal of the additional minimum liability adjustment of $120 million, net-of-tax.
(3) Includes adjustments for the fair value of outstanding MBNA Corporation (MBNA) stock-based compensation awards of 32 thousand shares and $435 million.
(4) Effective January 1, 2007, the Corporation adopted FSP 13-2, SFAS 157, SFAS 159 and FIN 48. For additional information on the adoption of these accounting pronouncements, see Note 1 – Summary of Significant
Accounting Principles to the Consolidated Financial Statements.
(5) Excludes $130 million of Series N Preferred Stock fourth quarter 2008 cumulative preferred dividends not declared as of year end and $50 million of accretion of discounts on preferred stock issuances.
(6) Includes adjustments for the fair value of certain Countrywide stock-based compensation awards of 507 thousand shares and $86 million.
See accompanying Notes to Consolidated Financial Statements.
118 Bank of America 2008