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2006 Annual Report

 

Consolidated Statement of Changes in Shareholders' Equity

Bank of America Corporation and Subsidiaries

Common Stock and
Additional Paid-in
Capital
(Dollars in millions, shares in thousands) Preferred
Stock
Shares Amount Retained
Earnings
Accumulated
Other
Comprehensive
Income
(Loss) (1)
Other Total
Shareholders'
Equity
Comprehensive
Income
Balance, December 31, 2003
$
54
2,882,288
$
29
$
51,162
$
(2,434)
$
(154)
$
48,657
 
Net income       13,947     13,947
$
13,947
Net unrealized losses on
available-for-sale debt and
marketable equity securities
        (127)   (127) (127)
Net unrealized gains on foreign
currency translation adjustments
        13   13 13
Net losses on derivatives         (185)   (185) (185)
Cash dividends paid:
Common
      (6,452)     (6,452)  
Preferred
      (16)     (16)  
Common stock issued under
employee plans and related tax benefits
  121,149 4,066     (127) 3,939  
Stock issued in acquisition (2) 271 1,186,728 46,480       46,751  
Common stock repurchased   (147,859) (6,375) 89     (6,286)  
Conversion of preferred stock (54) 4,240 54          
Other     (18) 43 (31)   (6) (31)
Balance, December 31, 2004 271 4,046,546 44,236 58,773 (2,764) (281) 100,235 13,617
Net income       16,465     16,465 16,465
Net unrealized losses on
available-for-sale debt and
marketable equity securities
        (2,781)   (2,781) (2,781)
Net unrealized gains on foreign
currency translation adjustments
        32   32 32
Net losses on derivatives         (2,059)   (2,059) (2,059)
Cash dividends paid:
Common
      (7,665)     (7,665)  
Preferred
      (18)     (18)  
Common stock issued under
employee plans and related tax benefits
  79,579 3,222     (145) 3,077  
Common stock repurchased   (126,437) (5,765)       (5,765)  
Other           (3) 16 (1) 12 16
Balance, December 31, 2005 271 3,999,688 41,693 67,552 (7,556) (427) 101,533 11,673
Net income       21,133     21,133 21,133
Net unrealized gains on
available-for-sale debt and marketable equity securities
        245   245 245
Net unrealized gains on foreign
currency translation adjustments
        269   269 269
Net gains on derivatives         641   641 641
Adjustment to initially
apply FASB Statement
No. 158 (3)
        (1,308)   (1,308)  
Cash dividends paid:
Common
      (9,639)     (9,639)  
Preferred
      (22)     (22)  
Issuance of preferred stock 2,850           2,850  
Redemption of preferred stock (270)           (270)  
Common stock issued under
employee plans and related tax benefits
  118,418 4,863     (39) 4,824  
Stock issued in acquisition (4)   631,145 29,377       29,377  
Common stock repurchased   (291,100) (14,359)       (14,359)  
Other             (2)   (2) (2)
Balance, December 31, 2006
$
2,851
4,458,151
$
61,574
$
79,024
$
(7,711)
$
(466)
$
135,272
$
22,286
Footnote (1) At December 31, 2006, Accumulated Other Comprehensive Income (Loss) (OCI), net of tax, includes Net Gains (Losses) on Derivatives of $(3,697) million, Net Unrealized Gains (Losses) on Available-for-sale (AFS) Debt and Marketable Equity Securities of $(2,733) million, the accumulated adjustment to apply FASB Statement No. 158 of $(1,428) million, and Net Unrealized Gains (Losses) on Foreign Currency Translation Adjustments of $147 million. For additional information on Accumulated OCI, see Note 14 of the Consolidated Financial Statements.
Footnote (2) Includes adjustment for the fair value of outstanding FleetBoston Financial Corporation (FleetBoston) stock options of $862 million.
Footnote (3) Includes accumulated adjustment to apply FASB Statement No. 158 of $(1,428) million, net of tax, and the reversal of the additional minimum liability adjustment of $120 million, net of tax.
Footnote (4) Includes adjustment for the fair value of outstanding MBNA Corporation (MBNA) stock options of $435 million.


See accompanying Notes to Consolidated Financial Statements.