|
Note 23
Restatement of Quarterly Financial Statements (unaudited)
Consolidated Balance Sheet
|
|
| 2005 Quarters
|
|
|
Fourth
|
|
Third
|
|
Second
|
|
First
|
|
| (Dollars in millions) |
|
As
Previously
Reported(1)
|
| Restated
|
| As
Previously
Reported
|
| Restated
|
| As
Previously
Reported
|
| Restated
|
| As
Previously
Reported
|
| Restated
|
|
| Assets |
|
| Cash and cash equivalents |
|
$ |
36,999 |
| $ |
36,999 |
| $ |
32,771 |
| $ |
32,771 |
| $ |
33,935 |
| $ |
33,935 |
| $ |
28,698 |
| $ |
28,698 |
|
| Time deposits placed and other short-term investments |
| 12,800 |
| 12,800 |
| 11,236 |
| 11,236 |
| 9,682 |
| 9,682 |
| 11,223 |
| 11,223 |
|
| Federal funds sold and securities purchased under agreements to resell |
| 149,785 |
| 149,785 |
| 135,409 |
| 135,409 |
| 149,287 |
| 149,287 |
| 139,396 |
| 139,396 |
|
| Trading account assets |
| 131,707 |
| 131,707 |
| 121,256 |
| 121,256 |
| 126,658 |
| 126,658 |
| 124,960 |
| 124,960 |
|
| Derivative assets |
| 23,712 |
| 23,712 |
| 26,005 |
| 26,005 |
| 26,019 |
| 26,019 |
| 26,182 |
| 26,182 |
|
| Securities: |
|
| Available-for-sale |
| 221,556 |
| 221,556 |
| 227,349 |
| 227,349 |
| 233,412 |
| 233,412 |
| 218,675 |
| 218,675 |
|
| Held-to-maturity, at cost |
| 47 |
| 47 |
| 136 |
| 136 |
| 174 |
| 174 |
| 275 |
| 275 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total securities |
| 221,603 |
| 221,603 |
| 227,485 |
| 227,485 |
| 233,586 |
| 233,586 |
| 218,950 |
| 218,950 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loans and leases |
| 573,782 |
| 573,791 |
| 554,603 |
| 554,612 |
| 529,418 |
| 529,428 |
| 529,466 |
| 529,457 |
|
| Allowance for loan and lease losses |
| (8,045) |
| (8,045) |
| (8,326) |
| (8,326) |
| (8,319) |
| (8,319) |
| (8,313) |
| (8,313) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loans and leases, net of allowance |
| 565,737 |
| 565,746 |
| 546,277 |
| 546,286 |
| 521,099 |
| 521,109 |
| 521,153 |
| 521,144 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Premises and equipment, net |
| 7,786 |
| 7,786 |
| 7,659 |
| 7,659 |
| 7,602 |
| 7,602 |
| 7,531 |
| 7,531 |
|
| Mortgage servicing rights |
| 2,807 |
| 2,806 |
| 2,764 |
| 2,763 |
| 2,366 |
| 2,365 |
| 2,668 |
| 2,667 |
|
| Goodwill |
| 45,354 |
| 45,354 |
| 45,298 |
| 45,298 |
| 45,381 |
| 45,381 |
| 45,378 |
| 45,378 |
|
| Core deposit intangibles and other intangibles |
| 3,194 |
| 3,194 |
| 3,356 |
| 3,356 |
| 3,472 |
| 3,472 |
| 3,679 |
| 3,679 |
|
| Other assets |
| 90,311 |
| 90,311 |
| 92,743 |
| 92,743 |
| 87,243 |
| 87,243 |
| 82,421 |
| 82,421 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets |
|
$ |
1,291,795 |
| $ |
1,291,803 |
| $ |
1,252,259 |
| $ |
1,252,267 |
| $ |
1,246,330 |
| $ |
1,246,339 |
| $ |
1,212,239 |
| $ |
1,212,229 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
| Deposits in domestic offices: |
|
| Noninterest-bearing |
|
$ |
179,571 |
| $ |
179,571 |
| $ |
174,990 |
| $ |
174,990 |
| $ |
175,427 |
| $ |
175,427 |
| $ |
166,499 |
| $ |
166,499 |
|
| Interest-bearing |
| 384,155 |
| 384,155 |
| 390,973 |
| 390,973 |
| 397,778 |
| 397,778 |
| 403,534 |
| 403,534 |
|
| Deposits in foreign offices: |
|
| Noninterest-bearing |
| 7,165 |
| 7,165 |
| 6,750 |
| 6,750 |
| 6,102 |
| 6,102 |
| 5,319 |
| 5,319 |
|
| Interest-bearing |
| 63,779 |
| 63,779 |
| 53,764 |
| 53,764 |
| 56,110 |
| 56,110 |
| 54,635 |
| 54,635 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total deposits |
| 634,670 |
| 634,670 |
| 626,477 |
| 626,477 |
| 635,417 |
| 635,417 |
| 629,987 |
| 629,987 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Federal funds purchased and securities sold under agreements to repurchase |
| 240,655 |
| 240,655 |
| 217,053 |
| 217,053 |
| 207,710 |
| 207,710 |
| 187,652 |
| 187,652 |
|
| Trading account liabilities |
| 50,890 |
| 50,890 |
| 51,244 |
| 51,244 |
| 61,906 |
| 61,906 |
| 53,434 |
| 53,434 |
|
| Derivative liabilities |
| 15,000 |
| 15,000 |
| 15,711 |
| 15,711 |
| 15,630 |
| 15,630 |
| 15,363 |
| 15,363 |
|
| Commercial paper and other short-term borrowings |
| 116,269 |
| 116,269 |
| 107,655 |
| 107,655 |
| 93,763 |
| 93,763 |
| 93,440 |
| 93,440 |
|
| Accrued expenses and other liabilities |
| 31,749 |
| 31,938 |
| 32,976 |
| 33,250 |
| 34,470 |
| 34,940 |
| 35,081 |
| 35,319 |
|
| Long-term debt |
| 101,338 |
| 100,848 |
| 99,885 |
| 99,149 |
| 96,894 |
| 95,638 |
| 98,763 |
| 98,107 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total liabilities |
| 1,190,571 |
| 1,190,270 |
| 1,151,001 |
| 1,150,539 |
| 1,145,790 |
| 1,145,004 |
| 1,113,720 |
| 1,113,302 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Shareholders’ equity |
|
| Preferred stock, $0.01 par value; authorized — 100,000,000 shares for all periods; issued and outstanding — 1,090,189 shares for all periods |
| 271 |
| 271 |
| 271 |
| 271 |
| 271 |
| 271 |
| 271 |
| 271 |
|
Common stock and additional paid-in capital, $0.01 par value (2)(3) |
| 41,693 |
| 41,693 |
| 42,548 |
| 42,548 |
| 42,507 |
| 42,507 |
| 43,589 |
| 43,589 |
|
| Retained earnings |
| 67,205 |
| 67,552 |
| 65,439 |
| 65,980 |
| 63,328 |
| 64,154 |
| 60,843 |
| 61,309 |
|
| Accumulated other comprehensive income (loss) |
| (7,518) |
| (7,556) |
| (6,509) |
| (6,580) |
| (4,992) |
| (5,023) |
| (5,559) |
| (5,617) |
|
| Other |
| (427) |
| (427) |
| (491) |
| (491) |
| (574) |
| (574) |
| (625) |
| (625) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total shareholders’ equity |
| 101,224 |
| 101,533 |
| 101,258 |
| 101,728 |
| 100,540 |
| 101,335 |
| 98,519 |
| 98,927 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total liabilities and shareholders’ equity |
|
$ |
1,291,795 |
| $ |
1,291,803 |
| $ |
1,252,259 |
| $ |
1,252,267 |
| $ |
1,246,330 |
| $ |
1,246,339 |
| $ |
1,212,239 |
| $ |
1,212,229 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
|
The Corporation provided unaudited financial information relating to the fourth quarter of 2005 in its current report on Form 8-K filed on January 23, 2006. |
| (2) |
|
Authorized—7,500,000,000 shares for the Fourth, Third, Second and First Quarters |
| (3) |
|
Issued and outstanding—3,999,688,491 shares, 4,013,063,444 shares, 4,016,703,839 shares and 4,035,318,509 shares for the Fourth, Third, Second and First Quarters
|
Consolidated Balance Sheet
|
|
2004 Quarters
|
|
|
Fourth
|
|
Third
|
|
Second
|
|
First
|
|
| (Dollars in millions) |
|
As
Previously
Reported
|
| Restated
|
| As
Previously
Reported
|
| Restated
|
| As
Previously
Reported
|
| Restated
|
| As
Previously
Reported
|
| Restated
|
|
| Assets |
|
| Cash and cash equivalents |
|
$ |
28,936 |
| $ |
28,936 |
| $ |
29,252 |
| $ |
29,252 |
| $ |
31,789 |
| 31,789 |
| 22,296 |
| 22,296 |
|
| Time deposits placed and other short-term investments |
| 12,361 |
| 12,361 |
| 11,021 |
| 11,021 |
| 10,418 |
| 10,418 |
| 8,561 |
| 8,561 |
|
| Federal funds sold and securities purchased under agreements to resell |
| 91,360 |
| 91,360 |
| 104,570 |
| 104,570 |
| 81,437 |
| 81,437 |
| 73,057 |
| 73,057 |
|
| Trading account assets |
| 93,587 |
| 93,587 |
| 102,925 |
| 102,925 |
| 85,972 |
| 85,972 |
| 75,004 |
| 75,004 |
|
| Derivative assets |
| 30,235 |
| 30,235 |
| 25,398 |
| 25,398 |
| 25,908 |
| 25,908 |
| 28,481 |
| 28,481 |
|
| Securities: |
|
| Available-for-sale |
| 194,743 |
| 194,743 |
| 163,438 |
| 163,438 |
| 166,175 |
| 166,175 |
| 139,546 |
| 139,546 |
|
| Held-to-maturity, at cost |
| 330 |
| 330 |
| 420 |
| 420 |
| 478 |
| 478 |
| 242 |
| 242 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total securities |
| 195,073 |
| 195,073 |
| 163,858 |
| 163,858 |
| 166,653 |
| 166,653 |
| 139,788 |
| 139,788 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loans and leases |
| 521,837 |
| 521,813 |
| 511,639 |
| 511,613 |
| 498,481 |
| 498,452 |
| 375,968 |
| 375,938 |
|
| Allowance for loan and lease losses |
| (8,626) |
| (8,626) |
| (8,723) |
| (8,723) |
| (8,767) |
| (8,767) |
| (6,080) |
| (6,080) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loans and leases, net of allowance |
| 513,211 |
| 513,187 |
| 502,916 |
| 502,890 |
| 489,714 |
| 489,685 |
| 369,888 |
| 369,858 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Premises and equipment, net |
| 7,517 |
| 7,517 |
| 7,884 |
| 7,884 |
| 7,797 |
| 7,797 |
| 6,076 |
| 6,076 |
|
| Mortgage servicing rights |
| 2,482 |
| 2,481 |
| 2,453 |
| 2,452 |
| 3,005 |
| 3,004 |
| 2,184 |
| 2,182 |
|
| Goodwill |
| 45,262 |
| 45,262 |
| 44,709 |
| 44,709 |
| 44,672 |
| 44,672 |
| 11,468 |
| 11,468 |
|
| Core deposit intangibles and other intangibles |
| 3,887 |
| 3,887 |
| 3,726 |
| 3,726 |
| 3,922 |
| 3,922 |
| 854 |
| 854 |
|
| Other assets |
| 86,546 |
| 86,546 |
| 74,117 |
| 74,117 |
| 73,444 |
| 73,444 |
| 62,317 |
| 62,317 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets |
|
$ |
1,110,457 |
| $ |
1,110,432 |
| $ |
1,072,829 |
| $ |
1,072,802 |
| $ |
1,024,731 |
| 1,024,701 |
| 799,974 |
| 799,942 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
| Deposits in domestic offices: |
|
| Noninterest-bearing |
|
$ |
163,833 |
| $ |
163,833 |
| $ |
155,406 |
| $ |
155,406 |
| $ |
154,061 |
| 154,061 |
| 121,629 |
| 121,629 |
|
| Interest-bearing |
| 396,645 |
| 396,645 |
| 380,956 |
| 380,956 |
| 369,446 |
| 369,446 |
| 267,850 |
| 267,850 |
|
| Deposits in foreign offices: |
|
| Noninterest-bearing |
| 6,066 |
| 6,066 |
| 5,632 |
| 5,632 |
| 5,499 |
| 5,499 |
| 2,805 |
| 2,805 |
|
| Interest-bearing |
| 52,026 |
| 52,026 |
| 49,264 |
| 49,264 |
| 46,407 |
| 46,407 |
| 43,308 |
| 43,308 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total deposits |
| 618,570 |
| 618,570 |
| 591,258 |
| 591,258 |
| 575,413 |
| 575,413 |
| 435,592 |
| 435,592 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Federal funds purchased and securities sold under agreements to repurchase |
| 119,741 |
| 119,741 |
| 142,992 |
| 142,992 |
| 119,264 |
| 119,264 |
| 115,434 |
| 115,434 |
|
| Trading account liabilities |
| 36,654 |
| 36,654 |
| 36,825 |
| 36,825 |
| 29,689 |
| 29,689 |
| 27,402 |
| 27,402 |
|
| Derivative liabilities |
| 17,928 |
| 17,928 |
| 12,721 |
| 12,721 |
| 14,381 |
| 14,381 |
| 16,290 |
| 16,290 |
|
| Commercial paper and other short-term borrowings |
| 78,598 |
| 78,598 |
| 61,585 |
| 61,585 |
| 63,162 |
| 63,162 |
| 56,614 |
| 56,614 |
|
| Accrued expenses and other liabilities |
| 41,243 |
| 41,590 |
| 28,851 |
| 29,205 |
| 28,682 |
| 28,747 |
| 18,635 |
| 19,269 |
|
| Long-term debt |
| 98,078 |
| 97,116 |
| 100,586 |
| 99,582 |
| 98,319 |
| 98,082 |
| 81,231 |
| 79,474 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total liabilities |
| 1,010,812 |
| 1,010,197 |
| 974,818 |
| 974,168 |
| 928,910 |
| 928,738 |
| 751,198 |
| 750,075 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Shareholders’ equity |
|
Preferred stock, $0.01 par value (1) (2) |
| 271 |
| 271 |
| 271 |
| 271 |
| 322 |
| 322 |
| 53 |
| 53 |
|
Common stock and additional paid-in capital, $0.01 par value (3) (4) |
| 44,236 |
| 44,236 |
| 44,756 |
| 44,756 |
| 45,669 |
| 45,669 |
| 29 |
| 29 |
|
| Retained earnings |
| 58,006 |
| 58,773 |
| 55,979 |
| 56,739 |
| 54,030 |
| 54,452 |
| 51,808 |
| 52,738 |
|
| Accumulated other comprehensive income (loss) |
| (2,587) |
| (2,764) |
| (2,669) |
| (2,806) |
| (3,862) |
| (4,142) |
| (2,743) |
| (2,582) |
|
| Other |
| (281) |
| (281) |
| (326) |
| (326) |
| (338) |
| (338) |
| (371) |
| (371) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total shareholders’ equity |
| 99,645 |
| 100,235 |
| 98,011 |
| 98,634 |
| 95,821 |
| 95,963 |
| 48,776 |
| 49,867 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total liabilities and shareholders’ equity |
|
$ |
1,110,457 |
| $ |
1,110,432 |
| $ |
1,072,829 |
| $ |
1,072,802 |
| $ |
1,024,731 |
| 1,024,701 |
| 799,974 |
| 799,942 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
|
Authorized—100,000,000 shares for the Fourth, Third, Second and First Quarters |
| (2) |
|
Issued and outstanding—1,090,189 shares, 1,090,189 shares, 2,292,013 shares and 1,239,563 shares for the Fourth, Third, Second and First Quarters |
| (3) |
|
Authorized—7,500,000,000 shares for the Fourth, Third, Second and First Quarters |
| (4) |
|
Issued and outstanding—4,046,546,212 shares, 4,049,062,685 shares, 2,031,328,433 shares and 1,445,487,313 shares for the Fourth, Third, Second and First Quarters
|
|
