|
Note 7
Outstanding Loans and Leases
Outstanding loans and leases at December 31, 2005 and 2004 were:
|
| December 31
|
| (Dollars in millions) |
|
2005
|
|
2004
(Restated)
|
| Consumer |
|
| Residential mortgage |
|
$ |
182,596 |
|
$ |
178,079 |
| Credit card |
|
|
58,548 |
| 51,726 |
| Home equity lines |
|
|
62,098 |
| 50,126 |
| Direct/Indirect consumer |
|
|
45,490 |
| 40,513 |
| |
|
|
6,725 |
| 7,439 |
|
|
|
|
|
|
| Total consumer |
|
|
355,457 |
| 327,883 |
|
|
|
|
|
|
| Commercial |
|
| Commercial—domestic |
|
|
140,533 |
| 122,095 |
Commercial real estate (2) |
|
|
35,766 |
| 32,319 |
| Commercial lease financing |
|
|
20,705 |
| 21,115 |
| Commercial—foreign |
|
|
21,330 |
| 18,401 |
|
|
|
|
|
|
| Total commercial |
|
|
218,334 |
| 193,930 |
|
|
|
|
|
|
| Total |
|
$ |
573,791 |
|
$ |
521,813 |
|
|
|
|
|
|
| Footnote (1) |
|
Includes consumer finance of $2,849 million and $3,395 million; foreign consumer of $3,841 million and $3,563 million; and consumer lease financing of $35 million and $481 million
at December 31, 2005 and 2004. |
| Footnote (2) |
|
Includes domestic commercial real estate loans of $35,181 million and $31,879 million; and foreign commercial real estate loans of $585 million and $440 million at December 31,
2005 and 2004. |
The following table presents the gross recorded investment in specific loans, without consideration to the specific component of the Allowance for Loan and Lease Losses, that were considered individually impaired in accordance with SFAS 114 at December 31,
2005 and 2004. SFAS 114 impairment includes performing troubled debt restructurings, and excludes all commercial leases.
|
| December 31
|
| (Dollars in millions) |
|
2005
|
|
2004
|
| Commercial—domestic |
|
$ |
613 |
|
$ |
868 |
| Commercial real estate |
|
|
49 |
| 87 |
| Commercial—foreign |
|
|
34 |
| 273 |
|
|
|
|
|
|
| Total impaired loans |
|
$ |
696 |
|
$ |
1,228 |
|
|
|
|
|
|
The average recorded investment in certain impaired loans for 2005, 2004 and 2003 was approximately $852 million, $1.6 billion and $3.0 billion, respectively. At December 31, 2005 and 2004, the recorded investment in impaired loans requiring an Allowance for Loan
and Lease Losses based on individual analysis per SFAS 114 guidelines was $517 million and $926 million, and the related Allowance for Loan and Lease Losses was $55 million and $202 million. For 2005, 2004 and 2003, Interest Income recognized on
impaired loans totaled $17 million, $21 million and $105 million, respectively, all of which was recognized on a cash basis.
At December 31, 2005 and 2004, nonperforming loans and leases, including impaired loans and nonaccrual consumer loans, totaled $1.5 billion and $2.2
billion. Nonperforming securities amounted to zero and $140 million at December 31, 2005 and 2004. In addition, included in Other Assets were nonperforming loans held for sale and leveraged lease partnership interests of $50 million and $151
million at December 31, 2005 and 2004.
Foreclosed properties amounted to $92 million and $102 million at December 31, 2005 and 2004, and are included in Other Assets on the Consolidated Balance Sheet. The cost of carrying foreclosed properties in 2005, 2004 and 2003 amounted to $4 million, $3
million and $3 million, respectively.
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