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BANK OF AMERICA CORP /DE/

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1.0.0.3 false Income Taxes false 1 $ false false iso4217_USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 iso4217_USD_per_shares Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares 0 shares Standard http://www.xbrl.org/2003/instance shares 0 5 3 us-gaap_IncomeTaxDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <div> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Arial" color="#B23040" size="3"><b>NOTE 19 &#x2013; Income Taxes</b></font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="justify"> <font style="FONT-FAMILY: ARIAL" size="1">The components of income tax expense (benefit) for 2009, 2008 and 2007 were as follows:</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <p style="BORDER-BOTTOM: #b23040 2pt solid; LINE-HEIGHT: 1px; MARGIN-TOP: 0px; MARGIN-BOTTOM: 2px"> &#xA0;</p> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="77%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">(Dollars in millions)</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="2" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>2009</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="2" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2008</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="2" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2007</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.5em; MARGIN-LEFT: 1.5em"><font style="FONT-FAMILY: Arial" size="1"><b>Current income tax expense (benefit)</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Federal</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(3,576</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">5,075</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">5,210</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">State</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>555</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">561</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">681</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Foreign</font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>735</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">585</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">804</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 4.8em"><font style="FONT-FAMILY: ARIAL" size="1">Total current expense (benefit)</font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(2,286</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">6,221</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">6,695</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.5em; MARGIN-LEFT: 1.5em"><font style="FONT-FAMILY: Arial" size="1"><b>Deferred income tax expense (benefit)</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Federal</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>792</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(5,269</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(710</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">State</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(620</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(520</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(18</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Foreign</font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>198</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(12</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(25</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 4.8em"><font style="FONT-FAMILY: ARIAL" size="1">Total deferred expense (benefit)</font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>370</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(5,801</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(753</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.5em; MARGIN-LEFT: 4.5em"><font style="FONT-FAMILY: Arial" size="1"><b>Total income tax expense (benefit) <font size="1"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></b></font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>$</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(1,916</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">420</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">5,942</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> </table> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: ARIAL" size="1"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></td> <td valign="top" align="left"> <p align="justify"><font style="FONT-FAMILY: ARIAL" size="1">Does not reflect the deferred tax effects of unrealized gains and losses on AFS debt and marketable equity securities, foreign currency translation adjustments, derivatives and employee benefit plan adjustments that are included in accumulated OCI. As a result of these tax effects, accumulated OCI decreased $1.6 billion in 2009, increased $5.9 billion in 2008 and decreased $5.0 billion in 2007. Also, does not reflect the tax effects associated with the Corporation&#x2019;s employee stock plans which decreased common stock and additional paid-in capital $295 million and $9 million in 2009 and 2008, and increased common stock and additional paid-in capital $251 million in 2007. Goodwill was reduced $0, $9 million and $47 million in 2009, 2008 and 2007, respectively, reflecting certain tax benefits attributable to exercises of employee stock options issued by acquired companies which had vested prior to the merger dates.</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font size="1">&#xA0;</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font size="1">&#xA0;</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">Income tax expense (benefit) for 2009, 2008 and 2007 varied from the amount computed by applying the statutory income tax rate to income before income taxes. A reconciliation between the expected federal income tax expense using the federal statutory tax rate of 35 percent to the Corporation&#x2019;s actual income tax expense (benefit) and resulting effective tax rate for 2009, 2008 and 2007 is presented in the following table.</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <p style="BORDER-BOTTOM: #b23040 2pt solid; LINE-HEIGHT: 1px; MARGIN-TOP: 0px; MARGIN-BOTTOM: 2px"> &#xA0;</p> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="62%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> </tr> <tr> <td height="12"></td> <td height="12" colspan="7"></td> <td height="12" colspan="2"></td> <td height="12" colspan="7"></td> <td height="12" colspan="2"></td> <td height="12" colspan="7"></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="5" align="center"><font style="FONT-FAMILY: Arial" size="1"><b>2009</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="5" align="center"><font style="FONT-FAMILY: ARIAL" size="1">2008</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="5" align="center"><font style="FONT-FAMILY: ARIAL" size="1">2007</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">(Dollars in millions)</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="2" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>Amount</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>Percent</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> &#xA0;<font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="2" align="right"><font style="FONT-FAMILY: ARIAL" size="1">Amount</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">Percent</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> &#xA0;<font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="2" align="right"><font style="FONT-FAMILY: ARIAL" size="1">Amount</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">Percent</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Expected federal income tax expense</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>1,526</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>35.0</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>%&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1,550</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">35.0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">%&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">7,323</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">35.0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">%&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Increase (decrease) in taxes resulting from:</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">State tax expense (benefit), net of federal effect</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(42</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(1.0</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">27</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">0.6</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">431</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2.1</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Tax-exempt income, including dividends</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(863</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(19.8</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(631</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(14.3</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(683</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(3.3</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Foreign tax differential</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(709</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(16.3</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(192</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(4.3</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(485</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(2.3</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Low income housing credits/other credits</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(668</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(15.3</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(722</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(16.3</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(590</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(2.8</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Change in U.S. federal valuation allowance</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(650</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(14.9</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Loss on certain foreign subsidiary stock</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(595</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(13.7</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Non-U.S. leasing &#x2014; restructuring</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>&#x2013;</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>&#x2013;</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(221</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(1.1</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Leveraged lease tax differential</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>59</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>1.4</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">216</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">4.9</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">148</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">0.7</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Changes in prior period UTBs (including interest)</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>87</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>2.0</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">169</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3.8</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">143</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">0.7</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Other</font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(61</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(1.4</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">0.1</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(124</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(0.6</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.5em; MARGIN-LEFT: 4.5em"><font style="FONT-FAMILY: Arial" size="1"><b>Total income tax expense (benefit)</b></font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>$</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(1,916</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(44.0</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)%&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">420</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">9.5</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">%&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">5,942</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">28.4</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">%&#xA0;</font></td> </tr> </table> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 2%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">The reconciliation of the beginning unrecognized tax benefits (UTB) balance to the ending balance is presented in the following table.</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <p style="BORDER-BOTTOM: #b23040 2pt solid; LINE-HEIGHT: 1px; MARGIN-TOP: 0px; MARGIN-BOTTOM: 2px"> &#xA0;</p> <p 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valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="2" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2008</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="2" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2007</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.5em; MARGIN-LEFT: 1.5em"><font style="FONT-FAMILY: Arial" size="1"><b>Beginning balance</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>3,541</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3,095</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2,667</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Increases related to positions taken during prior years</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>791</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">688</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">67</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Increases related to positions taken during the current year</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>181</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">241</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">456</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Positions acquired or assumed in business combinations</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>1,924</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">169</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">328</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Decreases related to positions taken during prior years</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(554</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(371</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(227</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Settlements</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(615</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(209</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(108</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Expiration of statute of limitations</font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(15</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(72</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(88</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.5em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Arial" size="1"><b>Ending balance</b></font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>$</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>5,253</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3,541</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3,095</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">As of December&#xA0;31, 2009, 2008 and 2007, the balance of the Corporation&#x2019;s UTBs which would, if recognized, affect the Corporation&#x2019;s effective tax rate was $4.0 billion, $2.6 billion and $1.8 billion, respectively. Included in the UTB balance are some items, the recognition of which would not affect the effective tax rate, such as the tax effect of certain temporary differences, the portion of gross state UTBs that would be offset by the tax benefit of the associated federal deduction and the portion of gross foreign UTBs that would be offset by tax reductions in other jurisdictions.</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">The Corporation is under examination by the IRS and other tax authorities in countries and states in which it has significant business operations. The table below summarizes the status of significant U.S. federal examinations (unless otherwise noted) for the Corporation and various acquired subsidiaries as of December&#xA0;31, 2009.</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <p style="BORDER-BOTTOM: #b23040 2pt solid; LINE-HEIGHT: 1px; MARGIN-TOP: 0px; MARGIN-BOTTOM: 2px"> &#xA0;</p> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="43%"></td> <td valign="bottom" width="11%"></td> <td></td> <td valign="bottom" width="11%"></td> <td></td> </tr> <tr> <td height="8"></td> <td height="8" colspan="2"></td> <td height="8" colspan="2"></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>Years under<br /> examination&#xA0;<font size="1"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="right"> <font style="FONT-FAMILY: Arial" size="1"><b>Status at</b></font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="right"> <font style="FONT-FAMILY: Arial" size="1"><b>December&#xA0;31,&#xA0;2009</b></font></p> </td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Bank of America Corporation</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2000-2002</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">In&#xA0;Appeals&#xA0;process</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Bank of America Corporation</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2003-2005</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">Field examination</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Merrill Lynch &#x2013; U.S.</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2004</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">In Appeals process</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Merrill Lynch &#x2013; U.S.</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2005-2007</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">Field examination</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Merrill Lynch &#x2013; U.K.</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2007</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">Field examination</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">FleetBoston</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1997-2000</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">In Appeals process</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">FleetBoston</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2001-2004</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">Field examination</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">LaSalle</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2003-2005</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">Field examination</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Countrywide</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2005-2006</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">Field examination</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Countrywide</font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2007</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">Field examination</font></td> </tr> </table> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="10" align="left"><font style="FONT-FAMILY: ARIAL" size="1"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></td> <td valign="top" align="left"> <p align="justify"><font style="FONT-FAMILY: ARIAL" size="1">All tax years in material jurisdictions subsequent to the above years remain open to examination.</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font size="1">&#xA0;</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">In addition to the above examinations, the Corporation is in the process of appealing an adverse decision by the U.S. Tax Court with respect to a 1987 Merrill Lynch transaction. The income tax associated with this matter has been remitted and is included in the UTB balance above.</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">With the exception of the 2003 through 2005 tax years of Bank of America and the issues for which protests have been filed for Bank of America and Merrill Lynch as described below, it is reasonably possible that all above U.S. federal examinations will be concluded during the next twelve months.</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">During 2008, the IRS announced a settlement initiative related to lease-in, lease-out (LILO) and sale-in, lease-out (SILO) leveraged lease transactions. The Corporation executed closing agreements under this settlement initiative in late 2009 for all of these transactions for Bank of America Corporation and predecessor companies. Determinations of final tax and interest are expected to be finalized by the end of the first quarter of 2010. As a result of prior remittances, the Corporation does not expect to pay additional tax and interest related to the settlement initiative.</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">The remaining unagreed proposed adjustment for Bank of America Corporation for 2000 through 2002 tax years is the disallowance of foreign tax credits related to certain structured investment transactions. The Corporation continues to believe the crediting of these foreign taxes against U.S. income taxes was appropriate and has filed a protest to that effect with the Appeals Office.</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">The IRS proposed adjustments for two issues in the audit of Merrill Lynch for the tax year 2004 which have been protested to the Appeals Office. The issues involve eligibility for the dividends received deduction and foreign tax credits with respect to a structured investment transaction. The Corporation also intends to protest any adjustments the IRS proposes for these same issues in tax years 2005 through 2007.</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">In 2005 and 2008, Merrill Lynch paid income tax assessments for the fiscal years April&#xA0;1, 1998 through March&#xA0;31, 2007 in relation to the taxation of income that was originally reported in other jurisdictions, primarily the U.S. Upon making these payments, Merrill Lynch began the process of obtaining clarification from international tax authorities on the appropriate allocation of income among multiple jurisdictions (Competent Authority) to prevent double taxation of the income. During 2009, an agreement was reached between Japan and the U.S. on the allocation of income during these years. The impact of these settlements resulted in UTB decreases that are reflected in the previous table. All tax years in Japan subsequent to those settled remain open to examination.</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">The Corporation files income tax returns in more than 100 state and foreign jurisdictions each year and is under continuous examination by various state and foreign taxing authorities. While many of these examinations are resolved every year, the Corporation does not anticipate that resolutions occurring within the next twelve months would result in a material change to the Corporation&#x2019;s financial position.</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">During 2009, the Corporation resolved many state examinations and issues under state audits. The most significant of these settlements, all of which resulted in UTB decreases, were with California and New York.</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">Considering all federal and foreign examinations, it is reasonably possible that the UTB balance will decrease by as much as $1.3 billion during the next twelve months, since resolved items would be removed from the balance whether their resolution resulted in payment or recognition.</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">During 2009 and 2008, the Corporation recognized in income tax expense, $184 million and $147 million of interest and penalties, net of tax. As of December&#xA0;31, 2009 and 2008, the Corporation&#x2019;s accrual for interest and penalties that related to income taxes, net of taxes and remittances, was $1.1 billion and $677 million.</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">Significant components of the Corporation&#x2019;s net deferred tax assets and liabilities at December&#xA0;31, 2009 and 2008 are presented in the following table.</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 10px"> &#xA0;</p> <p style="BORDER-BOTTOM: #b23040 2pt solid; LINE-HEIGHT: 1px; MARGIN-TOP: 0px; MARGIN-BOTTOM: 2px"> &#xA0;</p> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="62%"></td> <td valign="bottom" width="14%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="12%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td height="8"></td> <td height="8" colspan="8"></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: Arial" size="1"><b>December&#xA0;31</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>(Dollars in millions)</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="2" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>2009</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="2" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2008</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.5em; MARGIN-LEFT: 1.5em"><font style="FONT-FAMILY: Arial" size="1"><b>Deferred tax assets</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Net operating loss carryforwards (NOL)</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>17,236</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1,263</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Allowance for credit losses</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>13,011</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">8,042</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Security and loan valuations</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>4,590</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">5,590</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -0.8em; MARGIN-LEFT: 2.4em"><font style="FONT-FAMILY: ARIAL" size="1">Employee compensation and retirement benefits</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>4,021</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2,409</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Capital loss carryforwards</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>3,187</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Other tax credit carryforwards</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>2,263</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Accrued expenses</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>2,134</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2,271</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">State income taxes</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>1,636</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">279</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Available-for-sale securities</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>&#x2013;</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1,149</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Other</font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>2,308</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1,987</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 4.8em"><font style="FONT-FAMILY: ARIAL" size="1">Gross deferred tax assets</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>50,386</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">22,990</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Valuation allowance</font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>(4,315</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>)&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(272</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -0.8em; MARGIN-LEFT: 4em"><font style="FONT-FAMILY: ARIAL" size="1">Total deferred tax assets, net of<br /> valuation allowance</font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>46,071</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">22,718</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.5em; MARGIN-LEFT: 1.5em"><font style="FONT-FAMILY: Arial" size="1"><b>Deferred tax liabilities</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Mortgage servicing rights</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>5,663</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3,404</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Long-term borrowings</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>3,320</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Intangibles</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>2,497</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1,712</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Equipment lease financing</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>2,411</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">5,720</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Fee income</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>1,382</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1,637</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Available-for-sale securities</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>878</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 3.2em"><font style="FONT-FAMILY: ARIAL" size="1">Other</font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>2,641</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1,549</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 4.8em"><font style="FONT-FAMILY: ARIAL" size="1">Gross deferred liabilities</font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>18,792</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">14,022</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.5em; MARGIN-LEFT: 4.5em"><font style="FONT-FAMILY: Arial" size="1"><b>Net deferred tax assets <font size="1"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(</sup><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">1</sup><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">)</sup></font></b></font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>$</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>27,279</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">8,696</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> </table> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="10" align="left"><font style="FONT-FAMILY: ARIAL" size="1"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></td> <td valign="top" align="left"> <p align="justify"><font style="FONT-FAMILY: ARIAL" size="1">The Corporation&#x2019;s net deferred tax assets were adjusted during 2009 and 2008 to include $20.6 billion and $3.5 billion of net deferred tax assets related to business combinations.</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 2%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">The following table summarizes the deferred tax assets and related valuation allowances recognized for the net operating and other loss carryforwards and tax credit carryforwards at December&#xA0;31, 2009.</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <p style="BORDER-BOTTOM: #b23040 2pt solid; LINE-HEIGHT: 1px; MARGIN-TOP: 0px; MARGIN-BOTTOM: 2px"> &#xA0;</p> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="68%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> </tr> <tr> <td height="8"></td> <td height="8" colspan="3"></td> <td height="8" colspan="4"></td> <td height="8" colspan="3"></td> <td height="8" colspan="3"></td> </tr> <tr> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>(Dollars in millions)</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="2" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>Deferred<br /> Tax&#xA0;Asset</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="2" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>Valuation<br /> Allowance</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" colspan="2" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>Net<br /> Deferred<br /> Tax&#xA0;Asset</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>First&#xA0;Year<br /> Expiring</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Net operating losses &#x2013; U.S.</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>7,378</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">7,378</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">After&#xA0;2027</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Net operating losses &#x2013; U.K.</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>9,817</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">9,817</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">None</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup>&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Net operating losses &#x2013; U.S. states <sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(2)</sup></font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>1,232</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(443</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">789</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">Various</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Net operating losses &#x2013; other</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>41</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(41</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">Various</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Capital losses</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>3,187</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(3,187</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">After 2013</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">General business credits</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>1,525</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1,525</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">After 2027</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Alternative minimum tax credits</font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>123</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">&#x2013;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">123</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">None</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> <tr> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="top"> <p style="TEXT-INDENT: -1.6em; MARGIN-LEFT: 1.6em"><font style="FONT-FAMILY: ARIAL" size="1">Foreign tax credits</font></p> </td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: Arial" size="1"><b>&#xA0;</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: Arial" size="1"><b>615</b></font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(306</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font style="FONT-FAMILY: ARIAL" size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">309</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom"> <font size="1">&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">After 2017</font></td> <td style="BORDER-BOTTOM: #b23040 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">&#xA0;&#xA0;</font></td> </tr> </table> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: ARIAL" size="1"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></td> <td valign="top" align="left"> <p align="justify"><font style="FONT-FAMILY: ARIAL" size="1">The U.K. NOL may be carried forward indefinitely. Due to change-in-control limitations in the three years prior to and following the change in ownership, this unlimited carryforward period may be jeopardized by certain major changes in the nature or conduct of the U.K. businesses.</font></p> </td> </tr> </table> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: ARIAL" size="1"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(2</sup><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">)</sup></font></td> <td valign="top" align="left"> <p align="justify"><font style="FONT-FAMILY: ARIAL" size="1">The NOL and related valuation allowance for U.S. states before considering the benefit of federal deductions were $1.9 billion and $682 million.</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 10px"> &#xA0;</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">With the acquisition of Merrill Lynch on January&#xA0;1, 2009, the Corporation established a valuation allowance to reduce certain deferred tax assets to the amount more-likely-than-not to be realized before their expiration. During 2009, the Corporation released $650 million of the valuation allowance attributable to Merrill Lynch&#x2019;s capital loss carryforward due to utilization against net capital gains generated in 2009. The valuation allowance also increased by $139 million due to increases in operating loss carryforwards and other deferred tax assets generated in certain state and foreign jurisdictions for which management believes it is more-likely-than-not that realization of these assets will not occur.</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">The Corporation concluded that no valuation allowance is necessary to reduce the U.K. NOL, U.S. federal NOL, and general business credit carryforwards since estimated future taxable income will be sufficient to utilize these assets prior to their expiration. Merrill Lynch also has U.S. federal capital loss and foreign tax credit carryforwards against which valuation allowances have been recorded to reduce the assets to the amounts the Corporation believes are more-likely-than-not to be realized.</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 16px; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="1">At December&#xA0;31, 2009 and 2008, federal income taxes had not been provided on $16.7 billion and $6.5 billion of undistributed earnings of foreign subsidiaries earned prior to 1987 and after 1997 that have been reinvested for an indefinite period of time. If the earnings were distributed, an additional $2.5 billion and $1.1 billion of tax expense, net of credits for foreign taxes paid on such earnings and for the related foreign withholding taxes, would have resulted as of December&#xA0;31, 2009 and 2008.</font></p> </div> NOTE 19 &#x2013; Income Taxes The components of income tax expense (benefit) for 2009, 2008 and 2007 were false false No definition available. No authoritative reference available. false false 1 1 false UnKnown UnKnown UnKnown false true