| Condensed Financial Information of Parent Company Only Disclosure [Text Block] |
Parent Company Information
The following tables present the Parent Company only financial information.
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Condensed Statement of Income |
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(Dollars in millions) |
2011 |
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2010 |
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2009 |
Income |
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Dividends from subsidiaries: |
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Bank holding companies and related subsidiaries |
$ |
10,277 |
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$ |
7,263 |
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$ |
4,100 |
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Nonbank companies and related subsidiaries |
553 |
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226 |
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27 |
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Interest from subsidiaries |
869 |
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999 |
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1,179 |
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Other income (1)
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10,603 |
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2,781 |
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7,784 |
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Total income |
22,302 |
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11,269 |
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13,090 |
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Expense |
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Interest on borrowed funds |
6,234 |
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4,484 |
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4,737 |
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Noninterest expense (2)
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11,861 |
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8,030 |
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4,238 |
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Total expense |
18,095 |
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12,514 |
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8,975 |
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Income (loss) before income taxes and equity in undistributed earnings of subsidiaries |
4,207 |
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(1,245 |
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4,115 |
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Income tax benefit |
(2,783 |
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(3,709 |
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(85 |
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Income before equity in undistributed earnings of subsidiaries |
6,990 |
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2,464 |
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4,200 |
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Equity in undistributed earnings (losses) of subsidiaries: |
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Bank holding companies and related subsidiaries |
6,650 |
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7,647 |
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(21,614 |
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Nonbank companies and related subsidiaries |
(12,194 |
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(12,349 |
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23,690 |
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Total equity in undistributed earnings (losses) of subsidiaries |
(5,544 |
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(4,702 |
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2,076 |
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Net income (loss) |
$ |
1,446 |
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$ |
(2,238 |
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$ |
6,276 |
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Net income (loss) applicable to common shareholders |
$ |
85 |
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$ |
(3,595 |
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$ |
(2,204 |
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(1) |
Includes $6.5 billion and $7.3 billion of gains related to the sale of the Corporation’s investment in CCB during 2011 and 2009.
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(2) |
Includes, in aggregate, $6.9 billion, $3.5 billion and $225 million in 2011, 2010 and 2009 of representations and warranties provision, which is presented as a component of mortgage banking income on the Corporation’s Consolidated Statement of Income, and litigation expense.
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Condensed Balance Sheet |
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December 31 |
(Dollars in millions) |
2011 |
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2010 |
Assets |
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Cash held at bank subsidiaries |
$ |
124,991 |
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$ |
117,124 |
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Securities |
515 |
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19,518 |
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Receivables from subsidiaries: |
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Bank holding companies and related subsidiaries |
48,679 |
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50,589 |
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Nonbank companies and related subsidiaries |
7,385 |
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8,320 |
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Investments in subsidiaries: |
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Bank holding companies and related subsidiaries |
191,278 |
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188,538 |
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Nonbank companies and related subsidiaries |
53,213 |
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61,374 |
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Other assets |
11,720 |
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10,837 |
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Total assets |
$ |
437,781 |
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$ |
456,300 |
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Liabilities and shareholders’ equity |
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Commercial paper and other short-term borrowings |
$ |
401 |
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$ |
13,899 |
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Accrued expenses and other liabilities |
22,419 |
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22,803 |
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Payables to subsidiaries: |
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Bank holding companies and related subsidiaries |
2,925 |
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4,241 |
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Nonbank companies and related subsidiaries |
515 |
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513 |
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Long-term debt |
181,420 |
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186,596 |
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Shareholders’ equity |
230,101 |
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228,248 |
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Total liabilities and shareholders’ equity |
$ |
437,781 |
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$ |
456,300 |
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Condensed Statement of Cash Flows |
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(Dollars in millions) |
2011 |
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2010 |
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2009 |
Operating activities |
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Net income (loss) |
$ |
1,446 |
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$ |
(2,238 |
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$ |
6,276 |
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Reconciliation of net income (loss) to net cash provided by operating activities: |
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Equity in undistributed (earnings) losses of subsidiaries |
5,544 |
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4,702 |
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(2,076 |
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Other operating activities, net |
6,716 |
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(996 |
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4,400 |
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Net cash provided by operating activities |
13,706 |
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1,468 |
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8,600 |
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Investing activities |
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Net sales of securities |
8,444 |
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5,972 |
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3,729 |
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Net payments from (to) subsidiaries |
5,780 |
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3,531 |
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(25,437 |
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Other investing activities, net |
(8 |
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2,592 |
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(17 |
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Net cash provided by (used in) investing activities |
14,216 |
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12,095 |
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(21,725 |
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Financing activities |
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Net increase (decrease) in commercial paper and other short-term borrowings |
(13,172 |
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8,052 |
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(20,673 |
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Proceeds from issuance of long-term debt |
16,047 |
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29,275 |
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30,347 |
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Retirement of long-term debt |
(21,742 |
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(27,176 |
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(20,180 |
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Proceeds from issuance of preferred stock and warrants |
5,000 |
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— |
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49,244 |
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Repayment of preferred stock |
— |
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— |
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(45,000 |
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Proceeds from issuance of common stock |
— |
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— |
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13,468 |
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Cash dividends paid |
(1,738 |
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(1,762 |
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(4,863 |
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Other financing activities, net |
(4,450 |
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3,280 |
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4,149 |
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Net cash provided by (used in) financing activities |
(20,055 |
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11,669 |
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6,492 |
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Net increase (decrease) in cash held at bank subsidiaries |
7,867 |
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25,232 |
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(6,633 |
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Cash held at bank subsidiaries at January 1 |
117,124 |
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91,892 |
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98,525 |
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Cash held at bank subsidiaries at December 31 |
$ |
124,991 |
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$ |
117,124 |
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$ |
91,892 |
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