PNC Bank 2011 Annual Report Download - page 115
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CONSOLIDATED STATEMENT OF CASH FLOWS
THE PNC FINANCIAL SERVICES GROUP, INC.
Year ended December 31
In millions 2011 2010 2009
Operating Activities
Net income $ 3,071 $3,397 $2,403
Adjustments to reconcile net income to net cash provided (used) by operating activities
Provision for credit losses 1,152 2,502 3,930
Depreciation and amortization 1,140 1,059 978
Deferred income taxes 840 1,019 932
Net gains on sales of securities (249) (426) (550)
Net other-than-temporary impairments 152 325 577
Mortgage servicing rights valuation adjustment 726 434 (149)
Gain on sale of PNC Global Investment Servicing (639)
Gains on BlackRock transactions (160) (1,076)
Net gains related to BlackRock LTIP shares adjustments (103)
Noncash charge on trust preferred securities redemption 198
Undistributed earnings of BlackRock (262) (291) (144)
Net change in
Trading securities and other short-term investments 330 468 61
Loans held for sale 77 (1,154) 1,110
Other assets (4,142) 753 5,485
Accrued expenses and other liabilities 3,330 (1,571) (8,118)
Other (328) (904) 418
Net cash provided (used) by operating activities 6,035 4,812 5,754
Investing Activities
Sales
Securities available for sale 20,533 23,343 18,861
BlackRock stock via secondary common stock offering 1,198
Loans 1,770 1,868 644
Repayments/maturities
Securities available for sale 6,074 7,730 7,291
Securities held to maturity 2,859 2,433 495
Purchases
Securities available for sale (25,551) (36,653) (34,078)
Securities held to maturity (1,607) (1,296) (2,367)
Loans (2,401) (4,275) (970)
Net change in
Federal funds sold and resale agreements 1,487 (1,313) (560)
Interest-earning deposits with banks 441 2,684 10,237
Loans (10,224) 7,855 13,863
Net cash received from (paid for) acquisition and divestiture activity 430 2,202 (3,396)
Purchases of corporate and bank owned life insurance (200) (800)
Other (a) (160) 753 (541)
Net cash provided (used) by investing activities (6,549) 5,729 9,479
106 The PNC Financial Services Group, Inc. – Form 10-K
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