Huntington National Bank 2004 Annual Report Download - page 138

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS HUNTINGTON BANCSHARES INCORPORATED
30. RESTATEMENT OF CONSOLIDATED STATEMENTS OF CASH FLOWS
The Company restated its consolidated statement of cash flows for the year ended December 31, 2003 to correct the presentation of
activity related to the 2003 sale of banking offices. The results of this restatement are reflected in the consolidated statements of cash
flows for 2003, included in this report. The impact of this restatement had no effect on net income, shareholders’ equity or the
balance of cash and cash equivalents. The following table reflects the previously reported amounts before the restatement, as well as
the impact of this restatement by financial statement line in Huntington’s consolidated statements of cash flows for the three years
ended December 31, 2004:
Twelve Months Ended December 31, 2003
(in thousands of dollars) Previously Reported Restated
Operating activities
Other, net $ 61,467 $ 62,331
Net cash provided by operating activities 1,338,406 1,339,270
Investing Activities
Net loan and lease originations, excluding sales (4,408,975) (4,506,843)
Proceeds from the sale of branch offices 81,367 (81,367)
Purchases of premises and equipment (62,503) (64,571)
Net cash used for investing activities (2,751,650) (3,014,320)
Financing Activities
Increase in total deposits 915,518 1,177,324
Net cash provided by financing activities 1,390,984 1,652,790
In addition to this restatement, the Company also reclassified components of other net operating activities to captions within the
reconciliation of net income to net cash provided by operating activities. The impact on other net operating activities for the year
ended December 31, 2003 is as follows:
(in thousands of dollars)
Other operating activities — as restated $ 62,331
Increase of cash surrender value of bank owned life insurance 43,028
Increase in payable to investors in securitized loans (64,986)
Other operating activities — as presented $ 40,373
136