10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2010 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Interest income | |||
| Loans and leases | $ 50,996 | 48,703 | 56,017 |
| Debt securities | 11,667 | 12,947 | 13,146 |
| Federal funds sold and securities borrowed or purchased under agreements to resell | 1,832 | 2,894 | 3,313 |
| Trading account assets | 6,841 | 7,944 | 9,057 |
| Other interest income | 4,161 | 5,428 | 4,151 |
| Total interest income | 75,497 | 77,916 | 85,684 |
| Interest expense | |||
| Deposits | 3,997 | 7,807 | 15,250 |
| Short-term borrowings | 3,699 | 5,512 | 12,362 |
| Trading account liabilities | 2,571 | 2,075 | 2,774 |
| Long-term debt | 13,707 | 15,413 | 9,938 |
| Total interest expense | 23,974 | 30,807 | 40,324 |
| Net interest income | 51,523 | 47,109 | 45,360 |
| Noninterest income | |||
| Card income | 8,108 | 8,353 | 13,314 |
| Service charges | 9,390 | 11,038 | 10,316 |
| Investment and brokerage services | 11,622 | 11,919 | 4,972 |
| Investment banking income | 5,520 | 5,551 | 2,263 |
| Equity investment income | 5,260 | 10,014 | 539 |
| Trading account profits (losses) | 10,054 | 12,235 | (5,911) |
| Mortgage banking income | 2,734 | 8,791 | 4,087 |
| Insurance income | 2,066 | 2,760 | 1,833 |
| Gains on sales of debt securities | 2,526 | 4,723 | 1,124 |
| Other income (loss) | 2,384 | (14) | (1,654) |
| Other-than-temporary impairment losses on available-for-sale debt securities: | |||
| Total other-than-temporary impairment losses | (2,174) | (3,508) | (3,461) |
| Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income | 1,207 | 672 | |
| Net impairment losses recognized in earnings on available-for-sale debt securities | (967) | (2,836) | (3,461) |
| Total noninterest income | 58,697 | 72,534 | 27,422 |
| Total revenue, net of interest expense | 110,220 | 119,643 | 72,782 |
| Provision for credit losses | 28,435 | 48,570 | 26,825 |
| Noninterest expense | |||
| Personnel | 35,149 | 31,528 | 18,371 |
| Occupancy | 4,716 | 4,906 | 3,626 |
| Equipment | 2,452 | 2,455 | 1,655 |
| Marketing | 1,963 | 1,933 | 2,368 |
| Professional fees | 2,695 | 2,281 | 1,592 |
| Amortization of intangibles | 1,731 | 1,978 | 1,834 |
| Data processing | 2,544 | 2,500 | 2,546 |
| Telecommunications | 1,416 | 1,420 | 1,106 |
| Other general operating | 16,222 | 14,991 | 7,496 |
| Goodwill impairment charges | 12,400 | ||
| Merger and restructuring charges | 1,820 | 2,721 | 935 |
| Total noninterest expense | 83,108 | 66,713 | 41,529 |
| Income (loss) before income taxes | (1,323) | 4,360 | 4,428 |
| Income tax expense (benefit) | 915 | (1,916) | 420 |
| Net income (loss) | (2,238) | 6,276 | 4,008 |
| Preferred stock dividends and accretion | 1,357 | 8,480 | 1,452 |
| Net income (loss) applicable to common shareholders | (3,595) | (2,204) | 2,556 |
| Per common share information | |||
| Earnings (loss) | (0.37) | (0.29) | 0.54 |
| Diluted earnings (loss) | (0.37) | (0.29) | 0.54 |
| Dividends paid | 0.04 | 0.04 | 2.24 |
| Average common shares issued and outstanding (in thousands) | 9,790,472 | 7,728,570 | 4,592,085 |
| Average diluted common shares issued and outstanding (in thousands) | 9,790,472 | 7,728,570 | 4,596,428 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2010 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Operating activities | |||
| Net income (loss) | $ (2,238) | 6,276 | 4,008 |
| Reconciliation of net income (loss) to net cash provided by operating activities: | |||
| Provision for credit losses | 28,435 | 48,570 | 26,825 |
| Goodwill impairment charges | 12,400 | ||
| Gains on sales of debt securities | (2,526) | (4,723) | (1,124) |
| Depreciation and premises improvements amortization | 2,181 | 2,336 | 1,485 |
| Amortization of intangibles | 1,731 | 1,978 | 1,834 |
| Deferred income tax expense (benefit) | 608 | 370 | (5,801) |
| Net (increase) decrease in trading and derivative instruments | 20,775 | 59,822 | (16,973) |
| Net (increase) decrease in other assets | 5,213 | 28,553 | (6,391) |
| Net increase (decrease) in accrued expenses and other liabilities | 14,069 | (16,601) | (8,885) |
| Other operating activities, net | 1,946 | 3,150 | 9,056 |
| Net cash provided by operating activities | 82,594 | 129,731 | 4,034 |
| Investing activities | |||
| Net (increase) decrease in time deposits placed and other short-term investments | (2,154) | 19,081 | 2,203 |
| Net (increase) decrease in federal funds sold and securities borrowed or purchased under agreements to resell | (19,683) | 31,369 | 53,723 |
| Proceeds from sales of available-for-sale debt securities | 100,047 | 164,155 | 120,972 |
| Proceeds from paydowns and maturities of available-for-sale debt securities | 70,868 | 59,949 | 26,068 |
| Purchases of available-for-sale debt securities | (199,159) | (185,145) | (184,232) |
| Proceeds from maturities of held-to-maturity debt securities | 11 | 2,771 | 741 |
| Purchases of held-to-maturity debt securities | (100) | (3,914) | (840) |
| Proceeds from sales of loans and leases | 8,046 | 7,592 | 52,455 |
| Other changes in loans and leases, net | (2,550) | 21,257 | (69,574) |
| Net purchases of premises and equipment | (987) | (2,240) | (2,098) |
| Proceeds from sales of foreclosed properties | 3,107 | 1,997 | 1,187 |
| Cash received upon acquisition, net | 31,804 | 6,650 | |
| Cash received due to impact of adoption of new consolidation guidance | 2,807 | ||
| Other investing activities, net | 9,400 | 9,249 | (10,185) |
| Net cash provided by (used in) investing activities | (30,347) | 157,925 | (2,930) |
| Financing activities | |||
| Net increase (decrease) in deposits | 36,598 | 10,507 | 14,830 |
| Net increase (decrease) in federal funds purchased and securities loaned or sold under agreements to repurchase | (9,826) | (62,993) | (34,529) |
| Net decrease in commercial paper and other short-term borrowings | (31,698) | (126,426) | (33,033) |
| Proceeds from issuance of long-term debt | 52,215 | 67,744 | 43,782 |
| Retirement of long-term debt | (110,919) | (101,207) | (35,072) |
| Proceeds from issuance of preferred stock | 49,244 | 34,742 | |
| Repayment of preferred stock | (45,000) | ||
| Proceeds from issuance of common stock | 13,468 | 10,127 | |
| Cash dividends paid | (1,762) | (4,863) | (11,528) |
| Excess tax benefits on share-based payments | 0 | 42 | |
| Other financing activities, net | 5 | (42) | (56) |
| Net cash used in financing activities | (65,387) | (199,568) | (10,695) |
| Effect of exchange rate changes on cash and cash equivalents | 228 | 394 | (83) |
| Net increase (decrease) in cash and cash equivalents | (12,912) | 88,482 | (9,674) |
| Cash and cash equivalents at January 1 | 121,339 | 32,857 | 42,531 |
| Cash and cash equivalents at December 31 | 108,427 | 121,339 | 32,857 |
| Supplemental cash flow disclosures | |||
| Interest paid | 21,166 | 37,602 | 36,387 |
| Income taxes paid | 1,465 | 2,964 | 4,816 |
| Income taxes refunded | (7,783) | (31) | (116) |
| Error Corrections and Prior Period Adjustments Restatement by Restatement Period and Amount | |||
| Reported Basis | |||
| Cash and cash equivalents at January 1 | 121,339 | 32,857 | 32,857 |
| Cash and cash equivalents at December 31 | 121,339 | 32,857 | 32,857 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BANK OF AMERICA CORP /DE/ | ||
Ticker: BAC Fiscal Year: 2010 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2010 | Dec 31, 2009 | |
| Assets | ||
| Cash and cash equivalents | $ 108,427 | 121,339 |
| Time deposits placed and other short-term investments | 26,433 | |
| Federal funds sold and securities borrowed or purchased under agreements to resell (includes $78,599 and $57,775 measured at fair value and $209,249 and $189,844 pledged as collateral) | 209,616 | |
| Trading account assets (includes $28,093 and $30,921 pledged as collateral) | 194,671 | 189,143 |
| Derivative assets | 73,000 | 88,178 |
| Debt securities: | ||
| Available-for-sale (includes $99,925 and $122,708 pledged as collateral) | 337,627 | 299,281 |
| Held-to-maturity, at cost (fair value $427 and $9,684) | 427 | 3,268 |
| Total debt securities | 338,054 | |
| Loans and leases (includes $3,321 and $4,936 measured at fair value and $91,730 and $118,113 pledged as collateral) | 940,440 | 1,002,723 |
| Allowance for loan and lease losses | (41,885) | (47,988) |
| Loans and leases, net of allowance | 898,555 | 954,735 |
| Premises and equipment, net | 14,306 | |
| Mortgage servicing rights (includes $14,900 and $19,465 measured at fair value) | 15,177 | |
| Goodwill | 73,861 | 86,314 |
| Intangible assets | 9,923 | |
| Loans held-for-sale (includes $25,942 and $32,795 measured at fair value) | 35,058 | |
| Customer and other receivables | 85,704 | |
| Other assets (includes $70,531 and $55,909 measured at fair value) | 182,124 | |
| All other assets | 594,244 | |
| Total assets | 2,264,909 | 2,330,671 |
| Liabilities | ||
| Deposits in U.S. offices: | ||
| Noninterest-bearing | 285,200 | |
| Interest-bearing (includes $2,732 and $1,663 measured at fair value) | 645,713 | |
| Deposits in non-U.S. offices: | ||
| Noninterest-bearing | 6,101 | |
| Interest-bearing | 73,416 | |
| Total deposits | 1,010,430 | |
| Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $37,424 and $37,325 measured at fair value) | 245,359 | |
| Trading account liabilities | 71,985 | 65,432 |
| Derivative liabilities | 55,914 | 50,700 |
| Commercial paper and other short-term borrowings (includes $7,178 and $1,520 measured at fair value) | 59,962 | 91,660 |
| Accrued expenses and other liabilities (includes $33,229 and $18,308 measured at fair value and $1,188 and $1,487 of reserve for unfunded lending commitments) | 144,580 | |
| Long-term debt (includes $50,984 and $45,451 measured at fair value) | 448,431 | 522,877 |
| All other liabilities | 1,490,960 | |
| Total liabilities | 2,036,661 | 2,105,497 |
| Commitments and contingencies (Note 8) Securitizations and Other Variable Interest Entities, Note 9 - Representations and Warranties Obligations and Corporate Guarantees and Note 14 - Commitments and Contingencies) | ||
| Shareholders' equity | ||
| Preferred stock, $0.01 par value; authorized - 100,000,000 shares; issued and outstanding 3,943,660 and 5,246,660 shares | 16,562 | |
| Common stock and additional paid-in capital, $0.01 par value; authorized 12,800,000,000 and 10,000,000,000 shares; issued and outstanding 10,085,154,806 and 8,650,243,926 shares | 150,905 | |
| Retained earnings | 60,849 | 65,079 |
| Accumulated other comprehensive income (loss) | (66) | (5,735) |
| Other | (2) | |
| Total shareholders' equity | 228,248 | 225,174 |
| Total liabilities and shareholders' equity | 2,264,909 | 2,330,671 |
| Error Corrections and Prior Period Adjustments Restatement by Restatement Period and Amount | ||
| Reported Basis | ||
| Cash and cash equivalents | 121,339 | |
| Time deposits placed and other short-term investments | 24,202 | |
| Federal funds sold and securities borrowed or purchased under agreements to resell (includes $78,599 and $57,775 measured at fair value and $209,249 and $189,844 pledged as collateral) | 189,933 | |
| Trading account assets (includes $28,093 and $30,921 pledged as collateral) | 182,206 | |
| Derivative assets | 87,622 | |
| Available-for-sale (includes $99,925 and $122,708 pledged as collateral) | 301,601 | |
| Held-to-maturity, at cost (fair value $427 and $9,684) | 9,840 | |
| Total debt securities | 311,441 | |
| Loans and leases (includes $3,321 and $4,936 measured at fair value and $91,730 and $118,113 pledged as collateral) | 900,128 | |
| Allowance for loan and lease losses | (37,200) | |
| Loans and leases, net of allowance | 862,928 | |
| Premises and equipment, net | 15,500 | |
| Mortgage servicing rights (includes $14,900 and $19,465 measured at fair value) | 19,774 | |
| Goodwill | 86,314 | |
| Intangible assets | 12,026 | |
| Loans held-for-sale (includes $25,942 and $32,795 measured at fair value) | 43,874 | |
| Customer and other receivables | 81,996 | |
| Other assets (includes $70,531 and $55,909 measured at fair value) | 191,077 | |
| All other assets | 593,543 | |
| Total assets | 2,230,232 | |
| Noninterest-bearing | 269,615 | |
| Interest-bearing (includes $2,732 and $1,663 measured at fair value) | 640,789 | |
| Noninterest-bearing | 5,489 | |
| Interest-bearing | 75,718 | |
| Total deposits | 991,611 | |
| Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $37,424 and $37,325 measured at fair value) | 255,185 | |
| Trading account liabilities | 65,432 | |
| Derivative liabilities | 50,661 | |
| Commercial paper and other short-term borrowings (includes $7,178 and $1,520 measured at fair value) | 69,524 | |
| Accrued expenses and other liabilities (includes $33,229 and $18,308 measured at fair value and $1,188 and $1,487 of reserve for unfunded lending commitments) | 127,854 | |
| Long-term debt (includes $50,984 and $45,451 measured at fair value) | 438,521 | |
| All other liabilities | 1,490,743 | |
| Total liabilities | 1,998,788 | |
| Preferred stock, $0.01 par value; authorized - 100,000,000 shares; issued and outstanding 3,943,660 and 5,246,660 shares | 37,208 | |
| Common stock and additional paid-in capital, $0.01 par value; authorized 12,800,000,000 and 10,000,000,000 shares; issued and outstanding 10,085,154,806 and 8,650,243,926 shares | 128,734 | |
| Retained earnings | 71,233 | |
| Accumulated other comprehensive income (loss) | (5,619) | |
| Other | (112) | |
| Total shareholders' equity | 231,444 | |
| Total liabilities and shareholders' equity | 2,230,232 | |
| Variable Interest Entities by Classification of Entity | ||
| VIE, Primary Beneficiary | ||
| Trading account assets (includes $28,093 and $30,921 pledged as collateral) | 19,627 | |
| Derivative assets | 2,027 | |
| Available-for-sale (includes $99,925 and $122,708 pledged as collateral) | 2,601 | |
| Loans and leases (includes $3,321 and $4,936 measured at fair value and $91,730 and $118,113 pledged as collateral) | 145,469 | |
| Allowance for loan and lease losses | (8,935) | |
| Loans and leases, net of allowance | 136,534 | |
| Loans held-for-sale (includes $25,942 and $32,795 measured at fair value) | 1,953 | |
| All other assets | 7,086 | |
| Total assets | 169,828 | |
| Commercial paper and other short-term borrowings (includes $7,178 and $1,520 measured at fair value) | 6,742 | |
| Long-term debt (includes $50,984 and $45,451 measured at fair value) | 71,013 | |
| All other liabilities | 9,141 | |
| Total liabilities | 86,896 | |
| External Links | |
| BANK OF AMERICA CORP /DE/ (BAC) Fiscal Year 2010 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |