Comerica 2014 Annual Report Download - page 144
Download and view the complete annual report
Please find page 144 of the 2014 Comerica annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134 -
135 -
136 -
137 -
138 -
139 -
140 -
141 -
142 -
143 -
144 -
145 -
146 -
147 -
148 -
149 -
150 -
151 -
152 -
153 -
154 -
155
-
156
-
157
-
158
-
159
 |
 |
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
F-107
STATEMENTS OF CASH FLOWS - COMERICA INCORPORATED
(in millions)
Years Ended December 31 2014 2013 2012
Operating Activities
Net income $ 593 $ 541 $ 521
Adjustments to reconcile net income to net cash provided by operating
activities:
Undistributed earnings of subsidiaries, principally banks (260)(108) (85)
Depreciation and amortization 11 1
Net periodic defined benefit cost 48 7
Share-based compensation expense 16 14 15
Provision for deferred income taxes —3 2
Excess tax benefits from share-based compensation arrangements (7)(3) (1)
Other, net 16 2 (8)
Net cash provided by operating activities 363 458 452
Investing Activities
Capital transactions with subsidiaries —— (5)
Net change in premises and equipment 2— (1)
Net cash provided by (used in) investing activities 2— (6)
Financing Activities
Medium- and long-term debt:
Maturities and redemptions —— (30)
Issuances 596 — —
Common Stock:
Repurchases (260)(291) (308)
Cash dividends paid (137)(123) (97)
Issuances of common stock under employee stock plans 49 33 3
Excess tax benefits from share-based compensation arrangements 73 1
Net cash provided by (used in) financing activities 255 (378) (431)
Net increase in cash and cash equivalents 620 80 15
Cash and cash equivalents at beginning of period 513 433 418
Cash and cash equivalents at end of period $ 1,133 $ 513 $ 433
Interest paid $ 12 $ 11 $ 12
Income taxes recovered $(33)$ (27) $ (46)