Government & Corporate Bond Funds

Nations Funds
Notes to financial statements (continued) (unaudited)
At March 31, 2002, the following Funds had available for federal income tax purposes unused capital losses as follows:
Expiring Expiring Expiring Expiring Expiring Expiring
In 2003 in 2005 In 2007 in 2008 In 2009 in 2010
Fund (000) (000) (000) (000) (000) (000)
Short-Term Income *********************************** $ 651 $ 122 $ — $ 2,435 $3,076 $ —
Short-Intermediate Government ************************* — — — 2,924 — —
Government Securities********************************* 2,220 2,304 2,883 — — —
Intermediate Bond ************************************ — — 1,126 504 52 74
Bond*********************************************** — — — — — —
Strategic Income ************************************* — — — 11,355 3,544 1,942
High Yield ****************************************** — — — — — —
The capital loss carryforward for the Government Securities Fund is subject to certain limitations.
During the year ended March 31, 2002, the following Funds utilized capital losses as follows:
Capital
losses utilized
Portfolio (000)
Short-Term Income *************************************** $ 2,998
Short-Intermediate Government ***************************** 15,842
Government Securities************************************* 6,586
Bond*************************************************** 20,301
Strategic Income ***************************************** 849
Under the current tax law, capital losses realized after October 31 may be deferred and treated as occurring on the first
day of the following fiscal year.
For the fiscal year ended March 31, 2002, the following Funds elected to defer losses occurring between November 1,
2001 and March 31, 2002 under these rules, as follows:
Capital losses
deferred
Fund (000)
Short-Term Income *************************************** $ 249
Government Securities ************************************* 1,010
Intermediate Bond **************************************** 1,307
Strategic Income****************************************** 3,466
High Yield Bond ***************************************** 183
Such deferred losses will be treated as arising on the first day of the fiscal year ending March 31, 2003.
13. Reorganizations
Fund Reorganization
On June 8, 2001, the Government Securities Fund (the ‘‘Acquiring Fund’’), acquired the assets and assumed the
liabilities of the U.S. Government Bond Fund (the ‘‘Acquired Fund’’), in a tax-free reorganization in exchange for shares
of the Acquiring Fund, pursuant to a plan of reorganization approved by the Acquired Fund’s shareholders. The number
and value of shares issued by the Acquiring Fund are presented in the Schedules of capital stock activity. Net assets and
unrealized appreciation as of the reorganization date were as follows:
72
Total net assets
Total net assets Total net assets of Acquiring Fund Acquired Fund
of Acquired Fund of Acquiring Fund after acquisition unrealized appreciation
(000) (000) (000) (000)
$73,397 $232,156 $305,553 $352