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: 2013 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 25, 2014) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Interest income | |||
| Loans and leases | $ 36,470 | 38,880 | 44,966 |
| Debt securities | 9,749 | 8,908 | 9,525 |
| Federal funds sold and securities borrowed or purchased under agreements to resell | 1,229 | 1,502 | 2,147 |
| Trading account assets | 4,706 | 5,094 | 5,961 |
| Other interest income | 2,866 | 3,016 | 3,637 |
| Total interest income | 55,020 | 57,400 | 66,236 |
| Interest expense | |||
| Deposits | 1,396 | 1,990 | 3,002 |
| Short-term borrowings | 2,923 | 3,572 | 4,599 |
| Trading account liabilities | 1,638 | 1,763 | 2,212 |
| Long-term debt | 6,798 | 9,419 | 11,807 |
| Total interest expense | 12,755 | 16,744 | 21,620 |
| Net interest income | 42,265 | 40,656 | 44,616 |
| Noninterest income | |||
| Card income | 5,826 | 6,121 | 7,184 |
| Service charges | 7,390 | 7,600 | 8,094 |
| Investment and brokerage services | 12,282 | 11,393 | 11,826 |
| Investment banking income | 6,126 | 5,299 | 5,217 |
| Equity investment income | 2,901 | 2,070 | 7,360 |
| Trading account profits | 7,056 | 5,870 | 6,697 |
| Mortgage banking income (loss) | 3,874 | 4,750 | (8,830) |
| Gains on sales of debt securities | 1,271 | 1,662 | 3,374 |
| Other income (loss) | (29) | (2,034) | 8,215 |
| Other-than-temporary impairment losses on available-for-sale debt securities: | |||
| Total other-than-temporary impairment losses | (21) | (57) | (360) |
| Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income | 1 | 4 | 61 |
| Net impairment losses recognized in earnings on available-for-sale debt securities | (20) | (53) | (299) |
| Total noninterest income | 46,677 | 42,678 | 48,838 |
| Total revenue, net of interest expense | 88,942 | 83,334 | 93,454 |
| Provision for credit losses | 3,556 | 8,169 | 13,410 |
| Noninterest expense | |||
| Personnel | 34,719 | 35,648 | 36,965 |
| Occupancy | 4,475 | 4,570 | 4,748 |
| Equipment | 2,146 | 2,269 | 2,340 |
| Marketing | 1,834 | 1,873 | 2,203 |
| Professional fees | 2,884 | 3,574 | 3,381 |
| Amortization of intangibles | 1,086 | 1,264 | 1,509 |
| Data processing | 3,170 | 2,961 | 2,652 |
| Telecommunications | 1,593 | 1,660 | 1,553 |
| Other general operating | 17,307 | 18,274 | 21,101 |
| Goodwill impairment | 3,184 | ||
| Merger and restructuring charges | 638 | ||
| Total noninterest expense | 69,214 | 72,093 | 80,274 |
| Income (loss) before income taxes | 16,172 | 3,072 | (230) |
| Income tax expense (benefit) | 4,741 | (1,116) | (1,676) |
| Net income (loss) | 11,431 [1] | 4,188 | 1,446 |
| Preferred stock dividends | 1,349 | 1,428 | 1,361 |
| Net income applicable to common shareholders | 10,082 | 2,760 | 85 |
| Per common share information | |||
| Earnings (in dollars per share) | 0.94 | 0.26 | 0.01 |
| Diluted earnings (in dollars per share) | 0.90 | 0.25 | 0.01 |
| Dividends paid (in dollars per share) | 0.04 | 0.04 | 0.04 |
| Average common shares issued and outstanding (in thousands) | 10,731,165 | 10,746,028 | 10,142,625 |
| Average diluted common shares issued and outstanding (in thousands) | 11,491,418 | 10,840,854 | 10,254,824 |
| [1] There were no material intersegment revenues. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2013 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 25, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Net income | $ 11,431 [1] | 4,188 | 1,446 |
| Other comprehensive income (loss), net-of-tax: | |||
| Net change in available-for-sale debt and marketable equity securities | (8,166) | 1,802 | (4,270) |
| Net change in derivatives | 592 | 916 | (549) |
| Employee benefit plan adjustments | 2,049 | (65) | (444) |
| Net change in foreign currency translation adjustments | (135) | (13) | (108) |
| Other comprehensive income (loss) | (5,660) | 2,640 | (5,371) |
| Comprehensive income (loss) | 5,771 | 6,828 | (3,925) |
| [1] There were no material intersegment revenues. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2013 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 25, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Operating activities | |||
| Net income | $ 11,431 [1] | 4,188 | 1,446 |
| Reconciliation of net income (loss) to net cash provided by (used in) operating activities: | |||
| Provision for credit losses | 3,556 | 8,169 | 13,410 |
| Goodwill impairment | 3,184 | ||
| Gains on sales of debt securities | (1,271) | (1,662) | (3,374) |
| Fair value adjustments on structured liabilities | 649 | 5,107 | (3,320) |
| Depreciation and premises improvements amortization | 1,597 | 1,774 | 1,976 |
| Amortization of intangibles | 1,086 | 1,264 | 1,509 |
| Net amortization of premium/discount on debt securities | 1,577 | 2,580 | 2,046 |
| Deferred income taxes | 3,262 | (2,735) | (1,949) |
| Originations and purchases of loans held-for-sale | (65,688) | (59,540) | (118,168) |
| Proceeds from sales, securitizations and paydowns of loans held-for-sale | 77,707 | 54,817 | 141,862 |
| Net (increase) decrease in trading and derivative instruments | 33,870 | (47,606) | 25,481 |
| Net (increase) decrease in other assets | 35,154 | (11,424) | 21,285 |
| Net increase (decrease) in accrued expenses and other liabilities | (12,919) | 24,061 | (18,124) |
| Other operating activities, net | 2,806 | 4,951 | (2,816) |
| Net cash provided by (used in) operating activities | 92,817 | (16,056) | 64,448 |
| Investing activities | |||
| Net decrease in time deposits placed and other short-term investments | 7,154 | 7,310 | 105 |
| Net (increase) decrease in federal funds sold and securities borrowed or purchased under agreements to resell | 29,596 | (8,741) | (1,567) |
| Proceeds from sales of debt securities carried at fair value | 119,013 | 74,068 | 120,125 |
| Proceeds from paydowns and maturities of debt securities carried at fair value | 85,554 | 71,509 | 56,732 |
| Purchases of debt securities carried at fair value | (175,983) | (164,491) | (99,536) |
| Proceeds from paydowns and maturities of held-to-maturity debt securities | 8,472 | 6,261 | 602 |
| Purchases of held-to-maturity debt securities | (14,388) | (20,991) | (35,552) |
| Proceeds from sales of loans and leases | 12,331 | 1,837 | 3,124 |
| Purchases of loans and leases | (16,734) | (9,178) | (9,638) |
| Other changes in loans and leases, net | (34,256) | 2,557 | 2,864 |
| Net sales (purchases) of premises and equipment | (521) | 5 | (1,307) |
| Proceeds from sales of foreclosed properties | 1,099 | 2,799 | 2,532 |
| Proceeds from sales of investments | 4,818 | 2,396 | 14,840 |
| Other investing activities, net | (1,097) | (320) | (895) |
| Net cash provided by (used in) investing activities | 25,058 | (34,979) | 52,429 |
| Financing activities | |||
| Net increase in deposits | 14,010 | 72,220 | 22,611 |
| Net increase (decrease) in federal funds purchased and securities loaned or sold under agreements to repurchase | (95,153) | 78,395 | (30,495) |
| Net increase (decrease) in short-term borrowings | 16,009 | (5,017) | (24,264) |
| Proceeds from issuance of long-term debt | 45,658 | 22,200 | 26,001 |
| Retirement of long-term debt | (65,602) | (124,389) | (101,814) |
| Proceeds from issuance of preferred stock and warrants | 1,008 | 667 | 5,000 |
| Redemption of preferred stock | (6,461) | ||
| Common stock repurchased | (3,220) | ||
| Cash dividends paid | (1,677) | (1,909) | (1,738) |
| Excess tax benefits on share-based payments | 12 | 13 | 42 |
| Other financing activities, net | (26) | 236 | 3 |
| Net cash provided by (used in) financing activities | (95,442) | 42,416 | (104,654) |
| Effect of exchange rate changes on cash and cash equivalents | (1,863) | (731) | (548) |
| Net increase (decrease) in cash and cash equivalents | 20,570 | (9,350) | 11,675 |
| Cash and cash equivalents at January 1 | 110,752 | 120,102 | 108,427 |
| Cash and cash equivalents at December 31 | 131,322 | 110,752 | 120,102 |
| Supplemental cash flow disclosures | |||
| Interest paid | 12,912 | 18,268 | 25,207 |
| Income taxes paid | 1,559 | 1,372 | 1,653 |
| Income taxes refunded | (244) | (338) | (781) |
| [1] There were no material intersegment revenues. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BANK OF AMERICA CORP /DE/ | ||
Ticker: BAC Fiscal Year: 2013 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2013 10-K (Filed: Feb 25, 2014) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| Assets | ||
| Cash and cash equivalents | $ 131,322 | 110,752 |
| Time deposits placed and other short-term investments | 11,540 | 18,694 |
| Federal funds sold and securities borrowed or purchased under agreements to resell (includes $75,614 and $98,670 measured at fair value) | 190,328 | 219,924 |
| Trading account assets (includes $111,817 and $115,821 pledged as collateral) | 200,993 | 227,775 |
| Derivative assets | 47,495 | 53,497 |
| Debt securities: | ||
| Carried at fair value (includes $51,408 and $63,349 pledged as collateral) | 268,795 | 310,850 |
| Held-to-maturity, at cost (fair value $52,430 and $50,270; $20,869 and $22,461 pledged as collateral) | 55,150 | 49,481 |
| Total debt securities | 323,945 | 360,331 |
| Loans and leases (includes $10,042 and $9,002 measured at fair value and $74,166 and $50,289 pledged as collateral) | 928,233 | 907,819 |
| Allowance for loan and lease losses | (17,428) | (24,179) |
| Loans and leases, net of allowance | 910,805 | 883,640 |
| Premises and equipment, net | 10,475 | 11,858 |
| Mortgage servicing rights (includes $5,042 and $5,716 measured at fair value) | 5,052 | 5,851 |
| Goodwill | 69,844 | 69,976 |
| Intangible assets | 5,574 | 6,684 |
| Loans held-for-sale (includes $6,656 and $11,659 measured at fair value) | 11,362 | 19,413 |
| Customer and other receivables | 59,448 | 71,467 |
| Other assets (includes $18,055 and $26,490 measured at fair value) | 124,090 | 150,112 |
| Total assets | 2,102,273 | 2,209,974 |
| Liabilities | ||
| Deposits in U.S. offices: | ||
| Noninterest-bearing | 373,092 | 372,546 |
| Interest-bearing (includes $1,899 and $2,262 measured at fair value) | 667,714 | 654,332 |
| Deposits in non-U.S. offices: | ||
| Noninterest-bearing | 8,233 | 7,573 |
| Interest-bearing | 70,232 | 70,810 |
| Total deposits | 1,119,271 | 1,105,261 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $33,684 and $42,639 measured at fair value) | 198,106 | 293,259 |
| Trading account liabilities | 83,469 | 73,587 |
| Derivative liabilities | 37,407 | 46,016 |
| Short-term borrowings (includes $1,520 and $4,074 measured at fair value) | 45,999 | 30,731 |
| Accrued expenses and other liabilities (includes $11,233 and $16,594 measured at fair value and $484 and $513 of reserve for unfunded lending commitments) | 135,662 | 148,579 |
| Long-term debt (includes $47,035 and $49,161 measured at fair value) | 249,674 | 275,585 |
| Total liabilities | 1,869,588 | 1,973,018 |
| Commitments and contingencies (Note 6 Securitizations and Other Variable Interest Entities, Note 7 Representations and Warranties Obligations and Corporate Guarantees and Note 12 Commitments and Contingencies) | ||
| Shareholders equity | ||
| Preferred stock, $0.01 par value; authorized 100,000,000 shares; issued and outstanding 3,407,790 and 3,685,410 shares | 13,352 | 18,768 |
| Common stock and additional paid-in capital, $0.01 par value; authorized 12,800,000,000 shares; issued and outstanding 10,591,808,296 and 10,778,263,628 shares | 155,293 | 158,142 |
| Retained earnings | 72,497 | 62,843 |
| Accumulated other comprehensive income (loss) | (8,457) | (2,797) |
| Total shareholders equity | 232,685 | 236,956 |
| Total liabilities and shareholders equity | 2,102,273 | 2,209,974 |
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Trading account assets (includes $111,817 and $115,821 pledged as collateral) | 8,412 | 7,906 |
| Derivative assets | 185 | 333 |
| Loans and leases (includes $10,042 and $9,002 measured at fair value and $74,166 and $50,289 pledged as collateral) | 109,118 | 123,227 |
| Allowance for loan and lease losses | (2,674) | (3,658) |
| Loans and leases, net of allowance | 106,444 | 119,569 |
| Loans held-for-sale (includes $6,656 and $11,659 measured at fair value) | 1,384 | 1,969 |
| Other assets (includes $18,055 and $26,490 measured at fair value) | 4,577 | 4,654 |
| Total assets | 121,002 | 134,431 |
| Short-term borrowings (includes $1,520 and $4,074 measured at fair value) | 1,150 | 3,731 |
| Long-term debt (includes $47,035 and $49,161 measured at fair value) | 19,448 | 34,256 |
| All other liabilities (includes $138 and $149 of non-recourse liabilities) | 253 | 360 |
| Total liabilities | 20,851 | 38,347 |
| External Links | |
| BANK OF AMERICA CORP /DE/ (BAC) Fiscal Year 2013 | |
| 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 |