Parent Company Financial Statements

12 Months Ended

Dec. 31, 2011

Parent Company Financial Statements [Abstract]

Parent Company Financial Statements

Note 26. Parent Company Financial Statements

The following tables present the financial statements of the parent company without consolidation of its banking and non-banking subsidiaries, as of and for the years ended December 31:

STATEMENT OF INCOME

Years ended December 31,	2011			2010			2009
(In millions)
Cash dividends from consolidated banking subsidiary				$	1,400		$	250
Cash dividends from consolidated non-banking subsidiaries and unconsolidated entities	$	60			100			25
Other, net		34			9			(11	)
Total revenue		94			1,509			264
Interest expense		203			162			178
Other expenses		60			421			53
Total expenses		263			583			231
Income tax benefit		(125	)		(93	)		(38	)
Income (Loss) before equity in undistributed income of consolidated subsidiaries and unconsolidated entities		(44	)		1,019			71
Extraordinary loss, net of taxes		—			—			(20	)
Equity in undistributed income (loss) of consolidated subsidiaries and unconsolidated entities:
Consolidated banking subsidiary		1,773			484			(1,987	)
Consolidated non-banking subsidiaries and unconsolidated entities		191			53			55
Net income (loss)	$	1,920		$	1,556		$	(1,881	)

STATEMENT OF CONDITION

As of December 31,	2011		2010
(In millions)
Assets:
Interest-bearing deposits with consolidated banking subsidiary	$	4,914	$	5,058
Trading account assets		138		122
Investment securities available for sale		25		24
Investments in subsidiaries:
Consolidated banking subsidiary		18,724		16,697
Consolidated non-banking subsidiaries		2,340		2,299
Unconsolidated entities		326		297
Notes and other receivables from:
Consolidated banking subsidiary		618		—
Consolidated non-banking subsidiaries and unconsolidated entities		302		283
Other assets		994		850
Total assets	$	28,381	$	25,630
Liabilities:
Commercial paper	$	2,384	$	2,799
Accrued taxes, expenses and other liabilities due to:
Consolidated banking subsidiary		—		561
Third parties		276		161
Long-term debt		6,323		4,322
Total liabilities		8,983		7,843
Shareholders' equity		19,398		17,787
Total liabilities and shareholders' equity	$	28,381	$	25,630

STATEMENT OF CASH FLOWS

Years ended December 31,	2011			2010			2009
(In millions)
Net cash (used in) provided by operating activities	$	(571	)	$	1,453		$	(24	)
Investing Activities:
Net (increase) decrease in interest-bearing deposits with banking subsidiary		144			(831	)		(1,457	)
Proceeds from sales and maturities of available-for-sale securities		—			1			36
Net decrease in securities related to AMLF		—			—			3,104
Investments in non-banking subsidiaries and unconsolidated entities		(648	)		(277	)		(776	)
Sale of investment in non-banking subsidiaries and unconsolidated entities		39			127			—
Business acquisitions		(51	)		(141	)		—
Net cash (used in) provided by investing activities		(516	)		(1,121	)		907
Financing Activities:
Net decrease in short-term borrowings related to AMLF		—			—			(3,063	)
Net (decrease) increase in commercial paper		(415	)		22			189
Proceeds from issuance of long-term debt, net of issuance costs		1,986			—			1,992
Payments for long-term debt		—			(300	)		—
Proceeds from issuance of preferred stock		500			—			—
Redemption of TARP preferred stock		—			—			(2,000	)
Proceeds from public offering of common stock, net of issuance costs		—			—			2,231
Repurchase of TARP common stock warrant		—			—			(60	)
Purchases of common stock		(675	)		—			—
Proceeds from exercises of common stock options		40			10			34
Repurchases of common stock for employee tax withholding		(63	)		(44	)		(38	)
Proceeds from issuances of treasury stock for common stock awards and option exercises		9			—			—
Payments for cash dividends		(295	)		(20	)		(168	)
Net cash provided by (used in) financing activities		1,087			(332	)		(883	)
Net change		—			—			—
Cash and due from banks at beginning of year		—			—			—
Cash and due from banks at end of year	$	—		$	—		$	—