Fifth Third Bank 2013 Annual Report Download - page 94

CONSOLIDATED STATEMENTS OF CASH FLOWS
92 Fifth Third Bancorp
For the years ended December 31 ($ in millions) 2013 2012 2011
Operating Activities
Net income $ 1,826 1,574 1,298
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ustments to reconcile net income to net cash provided by operating activities:
Provision for loan and lease losses 229 303 423
Depreciation, amortization and accretion 507 531 455
Stock-based compensation expense 78 69 59
Provision for deferred income taxes 253 271 437
Securities gains (199) (69) (58)
Securities gains – non-qualifying hedges on mortgage servicing rights (13) (10) (24)
Securities losses 178 54 12
Securities losses – non-qualifying hedges on mortgage servicing rights - 7 15
(Recovery of) provision for MSR impairment (192) 103 242
Net gains on sales of loans and fair value adjustments on loans held for sale (372) (278) (145)
Bank premises and equipment impairment 6 21 -
Capitalized servicing rights (250) (305) (236)
Loss on extinguishment of debt 8 169 -
Proceeds from sales of loans held for sale 22,047 22,044 14,783
Loans originated for sale, net of repayments (19,003) (21,439) (15,199)
Dividends representing return on equity method investments 54 45 13
Gain on sales of Vantiv, Inc. shares and Vantiv, Inc. IPO (336) (272) -
Net change in:
Trading securities (131) (28) 115
Other assets (672) 4 (67)
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ccrued taxes, interest and expenses 8 1 79
Other liabilities 569 (238) 164
Net Cash Provided by Operating Activities 4,595 2,557 2,366
Investing Activities
Sales:
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vailable-for-sale securities 9,328 2,521 2,471
Loans 657 275 371
Disposal of bank premises and equipment 33 13 35
Repayments / maturities:
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vailable-for-sale securities 3,191 4,100 3,502
Held-to-maturity securities 74 36 29
Purchases:
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vailable-for-sale securities (16,216) (6,813) (5,689)
Bank premises and equipment (274) (362) (319)
Proceeds from sales and dividends representing return of equity method investments 674 393 63
Net change in:
Other short-term investments (2,695) (640) (267)
Loans and leases (4,750) (5,930) (5,422)
Operating lease equipment (206) (126) (59)
Net Cash Used in Investing Activities (10,184) (6,533) (5,285)
Financing Activities
Net change in:
Core deposits 6,550 3,529 5,264
Certificates - $100,000 and over, including foreign office and other 3,208 279 (1,202)
Federal funds purchased (618) 555 67
Other short-term borrowings (4,900) 3,041 1,665
Dividends paid on common stock (393) (309) (192)
Dividends paid on preferred stock (37) (35) (50)
Proceeds from issuance of long-term debt 5,044 523 1,500
Repayment of long-term debt (2,225) (3,159) (1,607)
Repurchases of treasury shares and related forward contracts (1,320) (650) -
Issuance of common stock - - 1,648
Issuance of preferred stock 1,034 - -
Redemption of preferred stock, Series F - - (3,408)
Redemption of stock warrant - - (280)
Capital contributions from noncontrolling interests - - 21
Other (17) (20) (3)
Net Cash Provided By Financing Activities 6,326 3,754 3,423
Increase (Decrease) in Cash and Due from Banks 737 (222) 504
Cash and Due from Banks at Beginning of Period 2,441 2,663 2,159
Cash and Due from Banks at End of Period $ 3,178 2,441 2,663
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.