01—Abstract
Summary
Summary of the 10-K/A filed March 18, 2011. Cited figures are marked; the original filing is the authoritative source.
Regions Financial Corporation, headquartered in Birmingham, Alabama, filed this Amendment No. 1 to its Annual Report on Form 10-K for the fiscal year ended December 31, 2010.
The amendment amends the original Form 10-K filed with the SEC on February 24, 2011, and its sole purpose is to furnish Exhibit 101, the eXtensible Business Reporting Language (XBRL) version of the annual report data, as required by Rule 405 of Regulation S-T. The filing states that no other changes were made to the Form 10-K and that it does not reflect subsequent events or update any disclosures. The filing states that investors should continue to rely on the originally filed Form 10-K for investment decisions.
It also states that the XBRL interactive data files are deemed not filed for purposes of Sections 11, 12 and 18 of the relevant securities acts. The cover page reports 1,257,753,611 common shares outstanding as of February 15, 2011, and an aggregate market value of non-affiliate common equity of $8,081,116,041a as of June 30, 2010. The registrant is a large accelerated filer and a well-known seasoned issuer.
The exhibit index references the company's governance and compensation documents, its Trust Preferred Securities of Regions Financing Trust III (8.875%b, listed on the New York Stock Exchange), and its participation in the U.S. Treasury program, including a warrant to purchase up to 48,253,677 shares of common stock issued November 14, 2008, and Fixed Rate Cumulative Perpetual Preferred Stock Series A. Operating and financial results for 2010 are presented in the originally filed Form 10-K.
02—Key points
Key Highlights
- Amends the Form 10-K for the fiscal year ended December 31, 2010, originally filed February 24, 2011, solely to furnish XBRL Exhibit 101 under Rule 405 of Regulation S-T
- States that no other changes were made and that the amendment does not reflect subsequent events or update prior disclosures
- Advises investors to continue relying on the originally filed Form 10-K for investment decisions
- Cover page reports 1,257,753,611 common shares outstanding as of February 15, 2011
- Aggregate market value of non-affiliate common equity was $8,081,116,041 as of June 30, 2010; registrant is a large accelerated filer and well-known seasoned issuer
- Exhibit index lists a warrant to purchase up to 48,253,677 common shares issued to the U.S. Treasury on November 14, 2008, and Fixed Rate Cumulative Perpetual Preferred Stock Series A
- Trust Preferred Securities of Regions Financing Trust III (8.875%) are registered on the New York Stock Exchange
03—One dollar
04—Financials
Financial Highlights
Figures from 10-K/AFY2010filed March 18, 2011Financial Statements
FY2010 against FY2009
| Line item | FY2010FY2009 | Change |
|---|---|---|
| Operating Income | -$468.00M-$1.07B | +56.4% |
| Interest Expense | $1.25B$1.98B | −37.1% |
| Net Income | -$539.00M-$1.03B | +47.7% |
| EPS (Basic) | $-0.62$-1.27 | +51.2% |
| EPS (Diluted) | $-0.62$-1.27 | +51.2% |
| Shares Outstanding (Basic) | 1.23B989.00M | +24.1% |
| Shares Outstanding (Diluted) | 1.23B989.00M | +24.1% |
05—Questions
Frequently Asked Questions
Why was this 10-K/A filed?
The filing states that its sole purpose is to furnish Exhibit 101, which contains the company's annual report information in XBRL format, as required by Rule 405 of Regulation S-T. No other parts of the Form 10-K were changed.
Does this amendment change any previously reported results or disclosures?
No. The filing states that it does not reflect subsequent events or modify or update any disclosures made in the original Form 10-K filed February 24, 2011.
Should investors rely on this amendment or the original filing?
The filing states that investors should continue to rely on the originally filed version of the Form 10-K in making investment decisions.
How many common shares were outstanding, and what was the non-affiliate market value?
As of February 15, 2011, there were 1,257,753,611 common shares issued and outstanding. The aggregate market value of common equity held by non-affiliates was $8,081,116,041 as of June 30, 2010.
Are the XBRL files legally treated as filed?
The filing states that under Rule 406T of Regulation S-T, the interactive data files in Exhibit 101 are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 and 12 of the Securities Act of 1933, and are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934.
06—Continue