Bank of America 2014 Annual Report Download - page 265
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Bank of America 2014 263
Condensed Statement of Cash Flows
(Dollars in millions) 2014 2013 2012
Operating activities
Net income $ 4,833 $ 11,431 $ 4,188
Reconciliation of net income to net cash provided by (used in) operating activities:
Equity in undistributed (earnings) losses of subsidiaries 2,019 (12,042) 1,754
Other operating activities, net 2,143 (10,422) (3,432)
Net cash provided by (used in) operating activities 8,995 (11,033) 2,510
Investing activities
Net sales (purchases) of securities (142)459 13
Net payments from (to) subsidiaries (5,902)39,336 12,973
Other investing activities, net 19 3 445
Net cash provided by (used in) investing activities (6,025)39,798 13,431
Financing activities
Net increase (decrease) in short-term borrowings (55) 178 (616)
Net increase (decrease) in other advances 1,264 (14,378) 10,100
Proceeds from issuance of long-term debt 29,324 30,966 17,176
Retirement of long-term debt (33,854) (39,320) (63,851)
Proceeds from issuance of preferred stock 5,957 1,008 667
Redemption of preferred stock —(6,461) —
Common stock repurchased (1,675)(3,220) —
Cash dividends paid (2,306)(1,677) (1,909)
Other financing activities, net —— (668)
Net cash used in financing activities (1,345)(32,904) (39,101)
Net increase (decrease) in cash held at bank subsidiaries 1,625 (4,139) (23,160)
Cash held at bank subsidiaries at January 1 98,679 102,818 124,991
Cash held at bank subsidiaries at December 31 $ 100,304 $ 98,679 $ 101,831