Fifth Third Bank 2012 Annual Report Download - page 89

CONSOLIDATED STATEMENTS OF CASH FLOWS
87 Fifth Third Bancorp
For the years ended December 31 ($ in millions) 2012 2011 2010
Operating Activities
Net income $ 1,574 1,298 753
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ustments to reconcile net income to net cash provided by operating activities:
Provision for loan and lease losses 303 423 1,538
Depreciation, amortization and accretion 531 455 457
Stock-based compensation expense 69 59 64
Provision for deferred income taxes 271 437 176
Realized securities gains (69) (58) (60)
Realized securities gains – non-qualifying hedges on mortgage servicing rights (10) (24) (14)
Realized securities losses 54 12 13
Realized securities losses – non-qualifying hedges on mortgage servicing rights 7 15 -
Provision for mortgage servicing rights 103 242 36
Net (gains) losses on sales of loans and fair value adjustments on loans held for sale (278) (145) 114
Bank premises and equipment impairment 21 - -
Capitalized mortgage servicing rights (305) (236) (297)
Loss on extinguishment on TruPS 26 - -
Loss on extinguishment on debt 143 - -
Proceeds from sales of loans held for sale 22,044 14,783 18,634
Loans originated for sale, net of repayments (21,439) (15,199) (18,231)
Dividends representing return on equity method investments 45 13 31
Gain on Vantiv, Inc. IPO and sale of Vantiv, Inc. shares (272) - -
Net change in:
Trading securities (28) 115 67
Other assets 4 (67) 9
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ccrued taxes, interest and expenses 1 79 (63)
Other liabilities (238) 164 78
Net Cash Provided by Operating Activities 2,557 2,366 3,305
Investing Activities
Sales:
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vailable-for-sale securities 2,521 2,471 2,578
Loans 275 371 538
Disposal of bank premises and equipment 13 35 10
Repayments / maturities:
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vailable-for-sale securities 4,100 3,502 4,620
Held-to-maturity securities 36 29 1
Purchases:
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vailable-for-sale securities (6,813) (5,689) (5,218)
Held-to-maturity securities - - (1)
Bank premises and equipment (362) (319) (224)
Restricted cash from the initial consolidation of variable interest entities - - 63
Proceeds from sale and dividends representing return of equity method investments 393 63 8
Net change in:
Other short-term investments (640) (267) 1,861
Loans and leases (5,930) (5,422) (2,507)
Operating lease equipment (126) (59) (21)
Net Cash (Used in) Provided by Investing Activities (6,533) (5,285) 1,708
Financing Activities
Net change in:
Core deposits 3,529 5,264 784
Certificates - $100,000 and over, including other foreign office 279 (1,202) (3,429)
Federal funds purchased 555 67 97
Other short-term borrowings 3,041 1,665 38
Dividends paid on common shares (309) (192) (32)
Dividends paid on preferred shares (35) (50) (205)
Proceeds from issuance of long-term debt 523 1,500 14
Repayment of long-term debt (3,159) (1,607) (2,473)
Repurchases of treasury shares and related forward contracts (650) - -
Issuance of common shares - 1,648 -
Redemption of preferred shares, Series F - (3,408) -
Redemption of stock warrant - (280) -
Capital contributions from noncontrolling interests - 21 30
Other (20) (3) 4
Net Cash Provided By (Used In) Financing Activities 3,754 3,423 (5,172)
(Decrease) Increase in Cash and Due from Banks (222) 504 (159)
Cash and Due from Banks at Beginning of Period 2,663 2,159 2,318
Cash and Due from Banks at End of Period $ 2,441 2,663 2,159
See Notes to Consolidated Financial Statements. Note 2 contains cash payments related to interest and income taxes in addition to noncash investing and financing activities.