Fifth Third Bank 2010 Annual Report Download - page 73

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CONSOLIDATED STATEMENTS OF CASH FLOWS
Fifth Third Bancorp 71
For the years ended December 31 ($ in millions) 2010 2009 2008
Operating Activities
Net income (loss) attributable to Bancorp $753 737 (2,113)
A
d
j
ustments to reconcile net income (loss) attributable to Bancorp to net cash provided by operating activities:
Provision for loan and lease losses 1,538 3,543 4,560
Depreciation, amortization and accretion 457 341 8
Stock-based compensation expense 64 45 57
Provision (benefit) for deferred income taxes 176 184 (1,140)
Realized securities gains (60) (27) (41)
Realized securities gains - non-qualifying hedges on mortgage servicing rights (14) (64) (120)
Realized securities losses 13 37 127
Realized securities losses - non-qualifying hedges on mortgage servicing rights -7 -
Provision for mortgage servicing rights 36 24 207
Net losses (gains) on sales of loans and fair value adjustments on loans held for sale 114 116 (47)
Capitalized mortgage servicing rights (297) (373) (195)
Loss on recalculation of the timing of tax benefits on leveraged leases -- 130
Impairment charges on goodwill -- 965
Loans originated for sale, net of repayments (18,231) (22,252) (11,527)
Proceeds from sales of loans held for sale 18,634 21,504 11,273
Dividends representing return on equity method investments 31 22 13
Excess tax benefit related to stock-based compensation (4) --
Gain on sale of processing business, net of tax -(1,052) -
Net change in:
Trading securities 67 1,000 134
Other assets 9826 (478)
Accrued taxes, interest and expenses (63) (1,200) 925
Other liabilities 82 376 355
Net Cash Provided by Operating Activities 3,305 3,794 3,093
Investing Activities
Sales:
Available-for-sale securities 2,578 3,750 7,226
Loans 538 331 5,216
Disposal of bank premises and equipment 10 20 34
Repayments / maturities:
Available-for-sale securities 4,620 117,901 67,883
Held-to-maturity securities 1 3 3
Purchases:
Available-for-sale securities (5,218) (126,942) (76,317)
Held-to-maturity securities (1) - (11)
Bank premises and equipment (224) (173) (410)
Restricted cash from the initial consolidation of variable interest entities 63 --
Dividends representing return of equity method investments 8911
Proceeds from sale of processing business -562 -
Net cash (paid) acquired in business combinations -(16) 66
Net change in:
Other short-term investments 1,861 209 (2,910)
Loans and leases (2,507) 5,497 (6,553)
Operating lease equipment (21) (75) (142)
Net Cash Provided by (Used In) Investing Activities 1,708 1,076 (5,904)
Financing Activities
Net change in:
Core deposits 784 9,550 (2,820)
Certificates - $100,000 and over, including other foreign office (3,429) (4,159) 1,927
Federal funds purchased 97 (104) (4,352)
Other short-term borrowings 38 (8,544) 4,478
Proceeds from issuance of long-term debt 14 527 2,157
Repayment of long-term debt (2,473) (3,065) (2,272)
Issuance of common shares -986 -
Issuance of preferred shares, Series G, F --4,480
Exchange of preferred shares, Series G -(269) -
Dividends on exchange of preferred shares, Series G -35 -
Dividends paid on common shares (32) (27) (639)
Dividends paid on preferred shares (205) (220) (48)
Retirement of preferred shares, Series D, E --(9)
Dividends on redemption of preferred shares, Series D, E -- (19)
Capital contribution from noncontrolling interest 30 --
Other, net 4(1) 7
Net Cash (Used In) Provided by Financing Activities (5,172) (5,291) 2,890
(Decrease) Increase in Cash and Due from Banks (159) (421) 79
Cash and Due from Banks at Beginning of Year 2,318 2,739 2,660
Cash and Due from Banks at End of Year $2,159 $2,318 2,739
Cash Payments
Interest $920 1,416 2,053
Income taxes 79 109 416
See Notes to Consolidated Financial Statements. Note 2 contains noncash investing and financing activities.