SunTrust 2007 Annual Report Download - page 69

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We are the managing general partner of a number of non-registered investment limited partnerships which have been
established to provide alternative investment strategies for our clients. In reviewing the partnerships for consolidation, we
determined that these were voting interest entities and accordingly considered the consolidation guidance contained in EITF
Issue No. 04-5, “Determining Whether a General Partner, or the General Partners as a Group, Controls a Limited Partnership
or Similar Entity When the Limited Partners Have Certain Rights.” Under the terms of our non-registered investment limited
partnerships, the limited partners have certain rights, such as the right to remove the general partner, or “kick-out rights”, as
indicated in EITF Issue No. 04-5. Therefore, we, as the general partner, are precluded from consolidating the limited
partnerships.
Table 15 – Unfunded Lending Commitments
(Dollars in millions)
December 31
2007
December 31
2006
Unused lines of credit
Commercial $38,959.1 $40,764.3
Mortgage commitments112,859.5 28,232.1
Home equity lines 20,424.9 18,959.8
Commercial real estate 6,228.2 7,187.0
Commercial paper conduit 7,877.5 8,022.3
Credit card 1,808.5 1,519.7
Total unused lines of credit $88,157.7 $104,685.2
Letters of credit
Financial standby $12,287.5 $12,540.6
Performance standby 283.1 334.0
Commercial 132.3 123.4
Total letters of credit $12,702.9 $12,998.0
1Includes $5.0 billion and $6.2 billion in IRLCs accounted for as derivatives as of December 31, 2007 and December 31, 2006, respectively.
CONTRACTUAL COMMITMENTS
In the normal course of business, we enter into certain contractual obligations. Such obligations include obligations to make
future payments on debt and lease arrangements, contractual commitments for capital expenditures, and service contracts.
Table 16 summarizes our significant contractual obligations at December 31, 2007, except for pension and postretirement
benefit plans, included in Note 16, “Employee Benefit Plans,” to the Consolidated Financial Statements.
Table 16 – Contractual Commitments
As of December 31, 2007
(Dollars in millions)
1 year
or less
1-3
years
3-5
years
After
5 years Total
Time deposit maturities1$37,420 $8,005 $292 $81 $45,798
Short-term borrowings112,201 - - - 12,201
Long-term debt12,783 2,125 11,936 6,096 22,940
Operating lease obligations 194 351 282 690 1,517
Capital lease obligations11 2 2 12 17
Purchase obligations289 135 24 3 251
Total $52,688 $10,618 $12,536 $6,882 $82,724
1Amounts do not include accrued interest.
2Includes contracts with a minimum annual payment of $5 million.
As of December 31, 2007, our cumulative unrecognized tax benefits amounted to $405.4 million ($316.2 million on an
after-tax basis), including $80.0 million ($52.0 million on an after-tax basis) of interest. We are under continuous
examination by various tax authorities. We are unable to make a reasonable estimate of the periods of cash settlement,
because it is not possible to reasonably predict, with respect to periods for which the statutes of limitations are open, the
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