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86 SUNTRUST 2004 ANNUAL REPORT
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued
Note 13 / LONG-TERM DEBT
Long-term debt at December 31 consisted of the following:
(Dollars in thousands) 2004 2003
Parent Company Only
6.125% notes due 2004 $— $ 200,000
7.375% notes due 2006 200,000 200,000
Floating rate notes due 2007 300,000 300,000
2.15% notes due 2007 100,000 —
3.625% notes due 2007 250,000 —
6.25% notes due 2008 294,250 294,250
4.00% notes due 2008 350,000 —
4.25% notes due 2009 300,000 —
7.75% notes due 2010 300,000 300,000
Floating rate notes due 2019 50,563 50,563
6.00% notes due 2026 200,000 200,000
Floating rate notes due 20271384,029 350,000
7.90% notes due 20271250,000 250,000
Floating rate notes due 20281250,000 250,000
6.00% notes due 2028 222,925 222,925
7.125% notes due 20311300,000 300,000
7.05% notes due 20311300,000 300,000
7.70% notes due 20311200,000 —
Capital lease obligations 166 1,111
Other 43,800 72,850
Total Parent Company (excluding intercompany
of $193,922 in 2004 and 2003) 4,295,733 3,291,699
Subsidiaries
Floating rate notes due 2004 —850,000
8.75% notes due 2004 —149,966
Floating rate notes due 2005 1,850,455 1,001,057
Floating rate notes due 2006 1,000,000 —
2.125% notes due 2006 149,989 149,979
2.50% notes due 2006 399,553 399,289
7.25% notes due 2006 249,783 249,655
6.90% notes due 2007 99,820 99,747
2.086% notes due 2008 499,838 —
6.50% notes due 2008 140,845 141,119
3.868% notes due 2009 4,165 —
6.375% notes due 2011 1,000,820 1,000,949
2.70% notes due 2014 9,160 —
5.45% notes due 2017 499,034 498,960
5.20% notes due 2017 350,000 —
8.16% notes due 20261200,000 200,000
Capital lease obligations 21,329 15,892
FHLB advances (2004: 0.00 – 8.79%, 2003: 0.50 – 8.79%) 10,893,456 6,847,124
Direct finance lease obligations 207,342 164,718
Other 255,844 253,768
Total subsidiaries 17,831,433 12,022,223
Total long-term debt $22,127,166 $15,313,922
1Notes payable to trusts formed to issue Trust Preferred Securities totaled $1.9 billion at December 31, 2004 and $1.7 billion at December 31, 2003.
calculated without changing any other assumption; in reality,
changes in one factor may result in changes in another (for exam-
ple, increases in market interest rates may result in lower prepay-
ments and increased credit losses), which might magnify or
counteract the sensitivities.
The Company has securitized mortgage loans and retained varying
degrees of recourse.The Company has recorded in other liabilities a
reserve for recourse liability for securitized mortgage loans.The
balance as of December 31, 2004, was $4.4 million and the
Company incurred losses of $43.6 thousand on securitized mort-
gage loans in 2004.