Fifth Third Bank 2014 Annual Report Download - page 168
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
166 Fifth Third Bancorp
Condensed Balance Sheets (Parent Company Only)
A
s of December 31 ($ in millions) 2014 2013
A
ssets
Cash $ - -
Short-term investments 3,189 2,505
Loans to subsidiaries:
Bank subsidiaries - -
Nonbank subsidiaries 984 974
Total loans to subsidiaries 984 974
Investment in subsidiaries
Nonbank subsidiaries 17,186 16,254
Total investment in subsidiaries 17,186 16,254
Goodwill 80 80
Other assets 451 323
Total Assets $21,890 20,136
Liabilities
Other short-term borrowings 426 311
A
ccrued expenses and other liabilities 405 442
Long-term debt (external) 5,394 4,757
Total Liabilities 6,225 5,510
Shareholders' Equity
Common stock 2,051 2,051
Preferred stock 1,331 1,034
Capital surplus 2,646 2,561
Retained earnings 11,141 10,156
A
ccumulated other comprehensive income 429 82
Treasury stock (1,972) (1,295)
Noncontrolling interests 39 37
Total Equity 15,665 14,626
Total Liabilities and Equity $21,890 20,136
Condensed Statements of Cash Flows (Parent Company Only)
For the years ended December 31 ($ in millions) 2014 2013 2012
Operating Activities
Net income $1,481 1,836 1,576
A
d
j
ustments to reconcile net income to net cash provided by operating activities:
(Benefit from) provision for deferred income taxes (1) (1) 2
Net change in undistributed earnings (491) (1,103) 220
Net change in:
Other assets 8 13 57
A
ccrued expenses and other liabilities (40) (28) 18
Net Cash Provided by Operating Activities 957 717 1,873
Investing Activities
Net change in:
Short-term investments (684) 976 107
Loans to subsidiaries (10) 47 11
Net Cash (Used in) Provided by Investing Activities (694) 1,023 118
Financing Activities
Net change in other short-term borrowings 115 (255) (89)
Proceeds from issuance of long-term debt 499 750 500
Repayment of long-term debt - (1,500) (1,440)
Dividends paid on common shares (423) (393) (309)
Dividends paid on preferred shares (67) (37) (35)
Issuance of preferred stock 297 1,034 -
Repurchases of treasury shares and related forward contracts (654) (1,320) (650)
Other, net (30) (19) (18)
Net Cash Used in Financing Activities (263) (1,740) (2,041)
Net Decrease in Cash - - (50)
Cash at Beginning of Year - - 50
Cash at End of Year $- - -