BANK OF AMERICA CORPORATION AND SUBSIDIARIES Notes to Consolidated Financial Statements—(Continued) Consolidated Statement of Cash Flows
## Table 0 ##
Investing activities
Financing activities
Stock Performance Graph The following graph compares our cumulative shareholder returns with the Standard & Poor’s Information Technology Index and the Standard & Poor’s 500 Index for the year ended December 31, 2017, the 2016 fiscal transition period, and the years ended May 31, 2016, 2015, 2014 and 2013.
The line graph assumes the investment of $100 in our common stock, the Standard & Poor’s 500 Index and the Standard & Poor’s Information Technology Index on May 31, 2012 and assumes reinvestment of all dividends.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*
## Table 1 ##
* $100 invested on May 31, 2012 in stock or index, including reinvestment of dividends.
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banks recorded a profit, except for TCBO, which operated at approximately break-even.
We expect that this profitability will be sustained, thus permitting continued payments of dividends by the subsidiaries to the Parent during 2015.
General financial market and economic conditions impact the Company’s access to, and cost of, external financing.
Access to funding markets for the Parent and subsidiary banks is also directly affected by the credit ratings received from various rating agencies.
The ratings not only influence the costs associated with the borrowings, but can also influence the sources of the borrowings.
The debt ratings and outlooks issued by the various rating agencies for the Company did not change during 2014, except that Fitch’s outlook for the Company was revised to stable from positive.
Standard & Poor’s, Fitch, Dominion Bond Rating Service (“DBRS”), and Kroll all rate the Company’s senior debt at an investment grade level, while Moody’s rates the Company’s senior debt as Ba1 (one notch below investment grade).
In addition, all of the previously mentioned rating agencies, except Kroll, rate the Company’s subordinated debt as noninvestment grade.
Schedule 35 presents the Parent’s ratings as of December?31, 2014: Schedule 35 CREDIT RATINGS
## Table 2 ##
The Parent’s cash payments for interest, reflected in operating expenses, decreased to $96 million in 2014 from $126 million in 2013 as a result of a net repayment of debt of $1.2 billion and $0.2 billion during 2014 and 2013, respectively.
Cash payments for interest is expected to continue to decrease during 2015 as a result of the debt repayments during 2014 and the expected debt repayments during 2015.
Additionally, the Parent paid approximately $96 million and $120 million of total dividends on preferred stock and common stock during 2014 and 2013, respectively.
Preferred stock dividends were lower during 2014 compared to 2013 primarily as a result of the replacement of the 9.5% Series C preferred stock with lower-rate Series G, H, I, and J preferred stock during the first three quarters of 2013.
Note 23 of the Notes to Consolidated Financial Statements contains the Parent’s statements of income and cash flows for 2014, 2013 and 2012, as well as its balance sheets at December?31, 2014 and 2013.
At December?31, 2014, maturities of the Company’s long-term senior and subordinated debt ranged from September 2015 to September 2028, with effective interest rates from 3.30% to 6.95%.
See Note 12 of the Notes to Consolidated Financial Statements for a complete summary of the Company’s longterm debt.
Subsidiary Bank Liquidity – The subsidiary banks’ primary source of funding is their core deposits, consisting of demand, savings and money market deposits, time deposits under $100,000, and foreign deposits.
At December?31, 2014, these core deposits, excluding brokered deposits, in aggregate, constituted 97.3% of consolidated deposits, compared with 97.1% at December?31, 2013.
On a consolidated basis, the Company’s net loan to total deposit ratio is 83.7% as of December?31, 2014, compared to 84.2% as of December?31, 2013.
During 2014, the Company repaid Amegy’s $75 million subordinated note, which matured on September 22, 2014.

<table><tr><td></td><td colspan="4">Six Months Ended June 30</td></tr><tr><td></td><td colspan="2">2005</td><td colspan="2">2004</td></tr><tr><td> (Dollars in millions)</td><td>As Previously Reported</td><td>Restated</td><td>As Previously Reported</td><td>Restated</td></tr><tr><td> Operating activities</td><td></td><td></td><td></td><td></td></tr><tr><td>Net income</td><td>$8,991</td><td>$9,050</td><td>$6,530</td><td>$5,989</td></tr><tr><td>Reconciliation of net income to net cash provided by (used in) operating activities:</td><td></td><td></td><td></td><td></td></tr><tr><td>Provision for credit losses</td><td>1,455</td><td>1,455</td><td>1,413</td><td>1,413</td></tr><tr><td>Gains on sales of debt securities</td><td>-984</td><td>-984</td><td>-1,290</td><td>-1,290</td></tr><tr><td>Depreciation and premises improvements amortization</td><td>478</td><td>478</td><td>477</td><td>477</td></tr><tr><td>Amortization of intangibles</td><td>412</td><td>412</td><td>255</td><td>255</td></tr><tr><td>Deferred income tax expense (benefit)</td><td>391</td><td>425</td><td>-11</td><td>-335</td></tr><tr><td>Net increase in trading and derivative instruments</td><td>-7,014</td><td>-6,897</td><td>-9,799</td><td>-10,444</td></tr><tr><td>Net increase in other assets</td><td>-299</td><td>-299</td><td>-281</td><td>-281</td></tr><tr><td>Net decrease in accrued expenses and other liabilities</td><td>-5,869</td><td>-5,869</td><td>-7,800</td><td>-7,800</td></tr><tr><td>Other operating activities, net</td><td>-4,858</td><td>-5,150</td><td>-669</td><td>842</td></tr><tr><td>Net cash used in operating activities</td><td>-7,297</td><td>-7,379</td><td>-11,175</td><td>-11,174</td></tr><tr><td> Investing activities</td><td></td><td></td><td></td><td></td></tr><tr><td>Net decrease in time deposits placed and other short-term investments</td><td>2,679</td><td>2,679</td><td>796</td><td>796</td></tr><tr><td>Net (increase) decrease in federal funds sold and securities purchased under agreements to resell</td><td>-57,927</td><td>-57,927</td><td>6,043</td><td>6,043</td></tr><tr><td>Proceeds from sales of available-for-sale securities</td><td>140,666</td><td>132,006</td><td>37,729</td><td>37,729</td></tr><tr><td>Proceeds from maturities of available-for-sale securities</td><td>14,794</td><td>21,808</td><td>12,215</td><td>12,215</td></tr><tr><td>Purchases of available-for-sale securities</td><td>-192,401</td><td>-190,755</td><td>-123,771</td><td>-123,771</td></tr><tr><td>Proceeds from maturities of held-to-maturity securities</td><td>156</td><td>156</td><td>5</td><td>5</td></tr><tr><td>Proceeds from sales of loans and leases</td><td>12,221</td><td>12,221</td><td>2,002</td><td>2,002</td></tr><tr><td>Other changes in loans and leases, net</td><td>-21,540</td><td>-21,574</td><td>-3,497</td><td>-3,498</td></tr><tr><td>Additions to mortgage servicing rights, net</td><td>-407</td><td>-407</td><td>-662</td><td>-662</td></tr><tr><td>Net purchases of premises and equipment</td><td>-563</td><td>-563</td><td>-585</td><td>-585</td></tr><tr><td>Proceeds from sales of foreclosed properties</td><td>58</td><td>58</td><td>97</td><td>97</td></tr><tr><td>Net cash (paid for) acquired in business acquisitions</td><td>-116</td><td>—</td><td>5,608</td><td>5,608</td></tr><tr><td>Other investing activities, net</td><td>306</td><td>306</td><td>-138</td><td>-138</td></tr><tr><td>Net cash used in investing activities</td><td>-102,074</td><td>-101,992</td><td>-64,158</td><td>-64,159</td></tr><tr><td> Financing activities</td><td></td><td></td><td></td><td></td></tr><tr><td>Net increase in deposits</td><td>16,847</td><td>16,847</td><td>21,266</td><td>21,266</td></tr><tr><td>Net increase in federal funds purchased and securities sold under agreements to repurchase</td><td>87,969</td><td>87,969</td><td>35,275</td><td>35,275</td></tr><tr><td>Net increase in commercial paper and other short-term borrowings</td><td>15,165</td><td>15,165</td><td>22,000</td><td>22,000</td></tr><tr><td>Proceeds from issuance of long-term debt</td><td>7,806</td><td>7,806</td><td>12,648</td><td>12,648</td></tr><tr><td>Retirement of long-term debt</td><td>-7,714</td><td>-7,714</td><td>-7,385</td><td>-7,385</td></tr><tr><td>Proceeds from issuance of common stock</td><td>1,927</td><td>1,927</td><td>2,052</td><td>2,052</td></tr><tr><td>Common stock repurchased</td><td>-3,819</td><td>-3,819</td><td>-2,988</td><td>-2,988</td></tr><tr><td>Cash dividends paid</td><td>-3,649</td><td>-3,649</td><td>-2,802</td><td>-2,802</td></tr><tr><td>Other financing activities, net</td><td>-58</td><td>-58</td><td>-9</td><td>-9</td></tr><tr><td>Net cash provided by financing activities</td><td>114,474</td><td>114,474</td><td>80,057</td><td>80,057</td></tr><tr><td>Effect of exchange rate changes on cash and cash equivalents</td><td>-104</td><td>-104</td><td>-19</td><td>-19</td></tr><tr><td>Net increase in cash and cash equivalents</td><td>4,999</td><td>4,999</td><td>4,705</td><td>4,705</td></tr><tr><td>Cash and cash equivalents at January 1</td><td>28,936</td><td>28,936</td><td>27,084</td><td>27,084</td></tr><tr><td> Cash and cash equivalents at June 30</td><td>$33,935</td><td>$33,935</td><td>$31,789</td><td>$31,789</td></tr></table>
<table><tr><td></td><td>GlobalPayments</td><td>S&P500 Index</td><td>S&PInformationTechnology Index</td></tr><tr><td>May 31, 2012</td><td>$100.00</td><td>$100.00</td><td>$100.00</td></tr><tr><td>May 31, 2013</td><td>113.10</td><td>127.28</td><td>115.12</td></tr><tr><td>May 31, 2014</td><td>161.90</td><td>153.30</td><td>142.63</td></tr><tr><td>May 31, 2015</td><td>246.72</td><td>171.40</td><td>169.46</td></tr><tr><td>May 31, 2016</td><td>367.50</td><td>174.34</td><td>174.75</td></tr><tr><td>December 31, 2016</td><td>328.42</td><td>188.47</td><td>194.08</td></tr><tr><td>December 31, 2017</td><td>474.52</td><td>229.61</td><td>269.45</td></tr></table>
<table><tr><td>Rating agency</td><td>Outlook</td><td>Long-term issuer/senior debt rating</td><td>Subordinated debt rating</td></tr><tr><td>S&P</td><td>Stable</td><td>BBB-</td><td>BB+</td></tr><tr><td>Moody’s</td><td>Stable</td><td>Ba1</td><td>Ba2</td></tr><tr><td>Fitch</td><td>Stable</td><td>BBB-</td><td>BB+</td></tr><tr><td>DBRS</td><td>Stable</td><td>BBB (low)</td><td>BB (high)</td></tr><tr><td>Kroll</td><td>Stable</td><td>BBB</td><td>BBB-</td></tr></table>

Question: If Net income in Restated develops with the same increasing rate in 2005, what will it reach in 2006? (in millions)