PNC Bank 2010 Annual Report Download - page 107
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CONSOLIDATED STATEMENT OF CASH FLOWS
THE PNC FINANCIAL SERVICES GROUP, INC.
Year ended December 31
In millions 2010 2009 2008
Operating Activities
Net income $ 3,397 $ 2,403 $ 914
Adjustments to reconcile net income to net cash provided by operating activities
Provision for credit losses 2,502 3,930 1,517
Depreciation and amortization 1,059 978 463
Deferred income taxes (benefit) 1,019 932 (261)
Net gains on sales of securities (426) (550) (106)
Net other-than-temporary impairments 325 577 312
Gain on sale of PNC Global Investment Servicing (639)
Gains on BlackRock transactions (160) (1,076)
Net gains related to BlackRock LTIP shares adjustment (103) (246)
Undistributed earnings of BlackRock (291) (144) (129)
Visa redemption gain (95)
Excess tax benefits from share-based payment arrangements (1) (1) (13)
Net change in
Trading securities and other short-term investments 468 61 1,459
Loans held for sale (1,154) 1,110 303
Other assets 753 5,485 (1,974)
Accrued expenses and other liabilities (1,571) (8,118) 5,140
Other (470) 269 130
Net cash provided by operating activities 4,811 5,753 7,414
Investing Activities
Sales
Securities available for sale 23,343 18,861 10,283
BlackRock stock via secondary common stock offering 1,198
Visa shares 95
Loans 1,868 644 76
Repayments/maturities
Securities available for sale 7,730 7,291 4,225
Securities held to maturity 2,433 495 21
Purchases
Securities available for sale (36,653) (34,078) (19,381)
Securities held to maturity (1,296) (2,367) (101)
Loans (4,275) (970) (249)
Net change in
Federal funds sold and resale agreements (1,313) (560) 1,301
Interest-earning deposits with banks 2,684 10,237 (6,302)
Loans 7,855 13,863 (4,595)
Net cash received from (paid for) acquisition and divestiture activity 2,202 (3,396) 2,761
Purchases of corporate and bank-owned life insurance (800) (350)
Other (a) 753 (541) (770)
Net cash provided (used) by investing activities 5,729 9,479 (12,986)
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