PNC Bank 2014 Annual Report Download - page 128
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CONSOLIDATED STATEMENT OF CASH FLOWS
THE PNC FINANCIAL SERVICES GROUP, INC.
Year ended December 31
In millions 2014 2013 2012
Operating Activities
Net income (a) $ 4,207 $ 4,212 $ 2,994
Adjustments to reconcile net income to net cash provided (used) by operating activities
Provision for credit losses 273 643 987
Depreciation and amortization 988 1,146 1,159
Deferred income taxes (a) 255 1,196 563
Net gains on sales of securities (4) (99) (204)
Net other-than-temporary impairments 11 16 111
Charge for goodwill impairment 45
Changes in fair value of mortgage servicing rights 514 (261) 284
Gain on sales of Visa Class B common shares (209) (168) (267)
Noncash charges on trust preferred securities redemptions 57 295
Undistributed earnings of BlackRock (441) (373) (302)
Excess tax benefits from share-based payment arrangements (28) (23) (18)
Net change in
Trading securities and other short-term investments 757 (455) 1,350
Loans held for sale (405) (94) (1,125)
Other assets (8) 3,954 1,928
Accrued expenses and other liabilities (a) 169 (3,990) (690)
Other (a) (522) (206) (301)
Net cash provided (used) by operating activities 5,557 5,555 6,809
Investing Activities
Sales
Securities available for sale 4,432 7,974 9,358
Loans 2,870 2,559 1,611
Repayments/maturities
Securities available for sale 6,915 9,668 9,195
Securities held to maturity 1,987 2,483 3,174
Purchases
Securities available for sale (7,989) (18,419) (17,164)
Securities held to maturity (500) (1,883) (1,479)
Loans (750) (1,975) (1,796)
Net change in
Federal funds sold and resale agreements 131 (530) 732
Interest-earning deposits with banks (19,643) (8,151) (2,526)
Loans (12,147) (10,790) (14,333)
Net cash (paid for) received from acquisition and divestiture activity (62) (4,130)
Other (b) (137) 129 97
Net cash provided (used) by investing activities (24,893) (18,935) (17,261)
(continued on following page)
110 The PNC Financial Services Group, Inc. – Form 10-K