Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net (Loss) Earnings $ (1,748) $ 3,776 $ 7,340
Adjustments to reconcile net (loss) earnings to cash provided by operating activities      
Provision for representations and warranties 2,731 (120) (235)
Depreciation and amortization 731 900 1,080
Share-based compensation expense 1,919 1,483 1,433
Deferred taxes 3,081 637 578
Earnings from equity method investments (347) (625) (1,443)
Other 2,033 (159) (167)
Changes in operating assets and liabilities:      
Trading assets 16,580 7,778 33,683
Cash and securities segregated for regulatory purposes or deposited with clearing organizations 667 2,506 5,679
Receivables from Bank of America 9,683 6,999 (96,132)
Receivables under resale agreements (5,272) (37,956) 99,304
Receivables under securities borrowed transactions 2,349 17,590 (2,050)
Customer receivables 1,561 12,205 1,944
Brokers and dealers receivables 7,794 (3,226) 5,180
Proceeds from loans, notes, and mortgages held for sale 4,455 8,456 9,237
Other changes in loans, notes, and mortgages held for sale (2,465) (4,652) (7,212)
Trading liabilities (17,061) 11,561 (21,246)
Payables under repurchase agreements (9,991) (1,989) (51,977)
Payables under securities loaned transactions (3,791) (10,314) (9,577)
Payables to Bank of America 8,758 (9,440) 32,461
Customer payables 1,108 (1,413) (7,569)
Brokers and dealers payables (4,228) (6,008) 1,245
Other, net (4,659) 7,030 2,834
Cash provided by operating activities 13,888 5,019 4,390
Proceeds from (payments for):      
Maturities of available-for-sale securities 1,734 1,615 6,989
Sales of available-for-sale securities 4,290 15,472 11,311
Purchases of available-for-sale securities (1,672) (5,136) (1,902)
Sales and maturities of held-to-maturity securities 250 0 0
Equipment and facilities, net (95) (377) (264)
Loans, notes, and mortgages held for investment 2,793 6,927 3,440
Sale of MLBT-FSB to Bank of America 0 0 4,450
Other investments 6,169 11,787 4,000
Cash provided by investing activities 13,469 30,288 28,024
Proceeds from (payments for):      
Commercial paper and short-term borrowings (9,197) (4,623) (33,229)
Issuance and resale of long-term borrowings 9,169 8,553 7,555
Settlement and repurchases of long-term borrowings (29,876) (34,914) (56,008)
Capital contributions from Bank of America 0 0 6,850
Deposits (462) (2,361) 8,088
Derivative financing transactions 36 (1) 19
Other common stock transactions 0 0 (81)
Dividends 0 (134) (853)
Cash used for financing activities (30,330) (33,480) (67,659)
Effect of exchange rate changes on cash and cash equivalents (516) 251 269
(Decrease) increase in cash and cash equivalents (3,489) 2,078 (34,976)
Cash and cash equivalents, beginning of period 17,220 15,142 50,118
Cash and cash equivalents, end of period 13,731 17,220 15,142
Supplemental Disclosure of Cash Flow Information:      
Income taxes paid 428 2,577 808
Income taxes refunded (2,047) (4,232) (315)
Interest paid $ 7,399 $ 7,846 $ 11,115