Fifth Third Bank 2013 Annual Report Download - page 169
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
167 Fifth Third Bancorp
Condensed Balance Sheets (Parent Company Only)
A
s of December 31 ($ in millions) 2013 2012
A
ssets
Cash $ - -
Short-term investments 2,505 3,481
Loans to subsidiaries:
Bank subsidiaries - -
Nonbank subsidiaries 974 1,021
Total loans to subsidiaries 974 1,021
Investment in subsidiaries
Nonbank subsidiaries 16,254 15,376
Total investment in subsidiaries 16,254 15,376
Goodwill 80 80
Other assets 323 579
Total Assets $ 20,136 20,537
Liabilities
Other short-term borrowings 311 566
A
ccrued expenses and other liabilities 442 456
Long-term debt (external) 4,757 5,751
Total Liabilities 5,510 6,773
Parent Company Shareholders' Equity 14,626 13,764
Total Liabilities and Parent Company Shareholders' Equity $ 20,136 20,537
Condensed Statements of Cash Flows (Parent Company Only)
For the years ended December 31 ($ in millions) 2013 2012 2011
Operating Activities
Net income $ 1,836 1,576 1,297
A
d
j
ustments to reconcile net income to net cash provided by operating activities:
(Benefit from) provision for deferred income taxes (1) 2 (3)
Net change in undistributed earnings (1,103) 220 247
Net change in:
Other assets 13 57 39
A
ccrued expenses and other liabilities (28) 18 3
Net Cash Provided by Operating Activities 717 1,873 1,583
Investing Activities
Net change in:
Short-term investments 976 107 (635)
Loans to subsidiaries 47 11 489
Net Cash Provided by (Used in) Investing Activities 1,023 118 (146)
Financing Activities
Net change in other short-term borrowings (255) (89) 241
Proceeds from issuance of long-term debt 750 500 1,000
Repayment of long-term debt (1,500) (1,440) (400)
Dividends paid on common shares (393) (309) (192)
Dividends paid on preferred shares (37) (35) (50)
Issuance of common shares - - 1,648
Issuance of preferred stock 1,034 - -
Repurchases of treasury shares and related forward contracts (1,320) (650) -
Redemption of Series F preferred shares and related warrants - - (3,688)
Other, net (19) (18) (6)
Net Cash Used in Financing Activities (1,740) (2,041) (1,447)
Net (Decrease) Increase in Cash - (50) (10)
Cash at Beginning of Year - 50 60
Cash at End of Year $ - - 50