Comerica 2012 Annual Report Download - page 126
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
F-92
as a reduction of income tax expense (or an increase to income tax benefit) and a reduction of federal income taxes payable.
Investment balances, including all legally binding commitments to fund future investments, are included in "accrued income and
other assets" on the consolidated balance sheets, with amortization and other write-downs of investments recorded in "other
noninterest income" on the consolidated statements of income. In addition, a liability is recognized in "accrued expenses and other
liabilities" on the consolidated balance sheets for all legally binding unfunded commitments to fund tax credit entities ($123 million
at December 31, 2012).
The Corporation provided no financial or other support that was not contractually required to any of the above VIEs
during the years ended December 31, 2012 and 2011.
The following table summarizes the impact of these VIEs on line items on the Corporation’s consolidated statements of
income.
(in millions)
Years Ended December 31 2012 2011 2010
Other noninterest income $(57)$ (52) $ (51)
Benefit for income taxes (a) (56)(51) (49)
(a) Income tax credits from low income housing tax credit/historic rehabilitation tax credit partnerships.
For further information on the Corporation’s consolidation policy, see Note 1.
NOTE 10 - DEPOSITS
At December 31, 2012, the scheduled maturities of certificates of deposit and other deposits with a stated maturity were
as follows:
(in millions)
Years Ending December 31
2013 $ 4,941
2014 773
2015 82
2016 58
2017 41
Thereafter 138
Total $ 6,033
A maturity distribution of domestic certificates of deposit of $100,000 and over follows:
(in millions)
December 31 2012 2011
Three months or less $ 1,208 $ 1,257
Over three months to six months 515 609
Over six months to twelve months 1,085 1,062
Over twelve months 707 618
Total $ 3,515 $ 3,546
All foreign office time deposits of $502 million and $348 million at December 31, 2012 and 2011, respectively, were in
denominations of $100,000 or more.
NOTE 11 - SHORT-TERM BORROWINGS
Federal funds purchased and securities sold under agreements to repurchase generally mature within one to four days
from the transaction date. Other short-term borrowings, which may consist of commercial paper, borrowed securities, term federal
funds purchased, short-term notes, and treasury tax and loan deposits generally mature within one to 120 days from the transaction
date.
At December 31, 2012, Comerica Bank (the Bank), a subsidiary of the Corporation, had pledged loans totaling $24 billion
which provided for up to $19 billion of available collateralized borrowing with the FRB.