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: 2017 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 22, 2018) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Interest income | |||
| Loans and leases | $ 36,221 | 33,228 | 31,918 |
| Debt securities | 10,471 | 9,167 | 9,178 |
| Federal funds sold and securities borrowed or purchased under agreements to resell | 2,390 | 1,118 | 988 |
| Trading account assets | 4,474 | 4,423 | 4,397 |
| Other interest income | 4,023 | 3,121 | 3,026 |
| Total interest income | 57,579 | 51,057 | 49,507 |
| Interest expense | |||
| Deposits | 1,931 | 1,015 | 861 |
| Short-term borrowings | 3,538 | 2,350 | 2,387 |
| Trading account liabilities | 1,204 | 1,018 | 1,343 |
| Long-term debt | 6,239 | 5,578 | 5,958 |
| Total interest expense | 12,912 | 9,961 | 10,549 |
| Net interest income | 44,667 | 41,096 | 38,958 |
| Noninterest income | |||
| Card income | 5,902 | 5,851 | 5,959 |
| Service charges | 7,818 | 7,638 | 7,381 |
| Investment and brokerage services | 13,281 | 12,745 | 13,337 |
| Investment banking income | 6,011 | 5,241 | 5,572 |
| Trading account profits | 7,277 | 6,902 | 6,473 |
| Mortgage banking income | 224 | 1,853 | 2,364 |
| Gains on sales of debt securities | 255 | 490 | 1,138 |
| Other income | 1,917 | 1,885 | 1,783 |
| Total noninterest income | 42,685 | 42,605 | 44,007 |
| Total revenue, net of interest expense | 87,352 | 83,701 | 82,965 |
| Provision for credit losses | 3,396 | 3,597 | 3,161 |
| Noninterest expense | |||
| Personnel | 31,642 | 31,748 | 32,751 |
| Occupancy | 4,009 | 4,038 | 4,093 |
| Equipment | 1,692 | 1,804 | 2,039 |
| Marketing | 1,746 | 1,703 | 1,811 |
| Professional fees | 1,888 | 1,971 | 2,264 |
| Data processing | 3,139 | 3,007 | 3,115 |
| Telecommunications | 699 | 746 | 823 |
| Other general operating | 9,928 | 10,066 | 10,721 |
| Total noninterest expense | 54,743 | 55,083 | 57,617 |
| Income before income taxes | 29,213 | 25,021 | 22,187 |
| Income tax expense | 10,981 | 7,199 | 6,277 |
| Net income | 18,232 | 17,822 | 15,910 |
| Preferred stock dividends | 1,614 | 1,682 | 1,483 |
| Net income applicable to common shareholders | 16,618 | 16,140 | 14,427 |
| Per common share information | |||
| Earnings (in dollars per share) | 1.63 | 1.57 | 1.38 |
| Diluted earnings (in dollars per share) | 1.56 | 1.49 | 1.31 |
| Dividends paid (in dollars per share) | 0.39 | 0.25 | 0.20 |
| Average common shares issued and outstanding (in thousands) (in shares) | 10,195,646 | 10,284,147 | 10,462,282 |
| Average diluted common shares issued and outstanding (in thousands) (in shares) | 10,778,428 | 11,046,806 | 11,236,230 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2017 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 22, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net income | $ 18,232 | 17,822 | 15,910 |
| Other comprehensive income (loss), net-of-tax: | |||
| Net change in debt and marketable equity securities | 61 | (1,345) | (1,580) |
| Net change in debit valuation adjustments | (293) | (156) | 615 |
| Net change in derivatives | 64 | 182 | 584 |
| Employee benefit plan adjustments | 288 | (524) | 394 |
| Net change in foreign currency translation adjustments | 86 | (87) | (123) |
| Other comprehensive income (loss) | 206 | (1,930) | (110) |
| Comprehensive income | 18,438 | 15,892 | 15,800 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2017 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 22, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Operating activities | |||
| Net income | $ 18,232 | 17,822 | 15,910 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 3,396 | 3,597 | 3,161 |
| Gains on sales of debt securities | (255) | (490) | (1,138) |
| Depreciation and premises improvements amortization | 1,482 | 1,511 | 1,555 |
| Amortization of intangibles | 621 | 730 | 834 |
| Net amortization of premium/discount on debt securities | 2,251 | 3,134 | 2,613 |
| Deferred income taxes | 8,175 | 5,793 | 2,967 |
| Stock-based compensation | 1,649 | 1,367 | (89) |
| Loans held-for-sale: | |||
| Originations and purchases | (43,506) | (33,107) | (37,933) |
| Proceeds from sales and paydowns of loans originally classified as held-for-sale | 40,059 | 31,376 | 36,204 |
| Net change in: | |||
| Trading and derivative instruments | (13,939) | (866) | 2,550 |
| Other assets | (19,859) | (13,802) | 2,645 |
| Accrued expenses and other liabilities | 4,673 | (35) | 730 |
| Other operating activities, net | 7,424 | 1,331 | (1,612) |
| Net cash provided by operating activities | 10,403 | 18,361 | 28,397 |
| Investing activities | |||
| Net change in: | |||
| Time deposits placed and other short-term investments | (1,292) | (2,117) | 50 |
| Federal funds sold and securities borrowed or purchased under agreements to resell | (14,523) | (5,742) | (659) |
| Debt securities carried at fair value: | |||
| Proceeds from sales | 73,353 | 71,547 | 137,569 |
| Proceeds from paydowns and maturities | 93,874 | 108,592 | 92,498 |
| Purchases | (166,975) | (189,061) | (219,412) |
| Held-to-maturity debt securities: | |||
| Proceeds from paydowns and maturities | 16,653 | 18,677 | 12,872 |
| Purchases | (25,088) | (39,899) | (36,575) |
| Loans and leases: | |||
| Proceeds from sales | 11,761 | 18,230 | 22,316 |
| Purchases | (6,846) | (12,283) | (12,629) |
| Other changes in loans and leases, net | (41,104) | (31,194) | (51,895) |
| Other investing activities, net | 8,180 | 107 | 294 |
| Net cash used in investing activities | (52,007) | (63,143) | (55,571) |
| Financing activities | |||
| Net change in: | |||
| Deposits | 48,611 | 63,675 | 78,347 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase | 7,024 | (4,000) | (26,986) |
| Short-term borrowings | 8,538 | (4,014) | (3,074) |
| Long-term debt: | |||
| Proceeds from issuance | 53,486 | 35,537 | 43,670 |
| Retirement of long-term debt | (49,553) | (51,849) | (40,365) |
| Preferred stock: Proceeds from issuance | 0 | 2,947 | 2,964 |
| Common stock repurchased | (12,814) | (5,112) | (2,374) |
| Cash dividends paid | (5,700) | (4,194) | (3,574) |
| Other financing activities, net | (397) | (63) | (73) |
| Net cash provided by financing activities | 49,195 | 32,927 | 48,535 |
| Effect of exchange rate changes on cash and cash equivalents | 2,105 | 240 | (597) |
| Net increase (decrease) in cash and cash equivalents | 9,696 | (11,615) | 20,764 |
| Cash and cash equivalents at January 1 | 147,738 | 159,353 | 138,589 |
| Cash and cash equivalents at December 31 | 157,434 | 147,738 | 159,353 |
| Supplemental cash flow disclosures | |||
| Interest paid | 12,852 | 10,510 | 10,623 |
| Income taxes paid | 3,297 | 1,633 | 2,326 |
| Income taxes refunded | (62) | (590) | (151) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BANK OF AMERICA CORP /DE/ | ||
Ticker: BAC Fiscal Year: 2017 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 22, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| Assets | ||
| Cash and due from banks | $ 29,480 | 30,719 |
| Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks | 127,954 | 117,019 |
| Cash and cash equivalents | 157,434 | 147,738 |
| Time deposits placed and other short-term investments | 11,153 | 9,861 |
| Federal funds sold and securities borrowed or purchased under agreements to resell (includes $52,906 and $49,750 measured at fair value) | 212,747 | 198,224 |
| Trading account assets (includes $106,274 and $106,057 pledged as collateral) | 209,358 | 180,209 |
| Derivative assets | 37,762 | 42,512 |
| Debt securities: | ||
| Carried at fair value (includes $29,830 and $29,804 pledged as collateral) | 315,117 | 313,660 |
| Held-to-maturity, at cost (fair value $123,299 and $115,285; $6,007 and $8,233 pledged as collateral) | 125,013 | 117,071 |
| Total debt securities | 440,130 | 430,731 |
| Loans and leases | 936,749 | 906,683 |
| Allowance for loan and lease losses | (10,393) | (11,237) |
| Loans and leases, net of allowance | 926,356 | 895,446 |
| Premises and equipment, net | 9,247 | 9,139 |
| Mortgage servicing rights | 2,302 | 2,747 |
| Goodwill | 68,951 | 68,969 |
| Loans held-for-sale (includes $2,156 and $4,026 measured at fair value) | 11,430 | 9,066 |
| Customer and other receivables | 61,623 | 58,759 |
| Assets of business held for sale (includes $619 measured at fair value at December 31, 2016) | 0 | 10,670 |
| Other assets (includes $20,279 and $13,802 measured at fair value) | 132,741 | 123,996 |
| Total assets | 2,281,234 | 2,188,067 |
| On-balance sheet liabilities | ||
| Deposits in U.S. offices: | ||
| Noninterest-bearing | 430,650 | 438,125 |
| Interest-bearing (includes $449 and $731 measured at fair value) | 796,576 | 750,891 |
| Deposits in non-U.S. offices: | ||
| Noninterest-bearing | 14,024 | 12,039 |
| Interest-bearing | 68,295 | 59,879 |
| Total deposits | 1,309,545 | 1,260,934 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $36,182 and $35,766 measured at fair value) | 176,865 | 170,291 |
| Trading account liabilities | 81,187 | 63,031 |
| Derivative liabilities | 34,300 | 39,480 |
| Short-term borrowings (includes $1,494 and $2,024 measured at fair value) | 32,666 | 23,944 |
| Accrued expenses and other liabilities (includes $22,840 and $14,630 measured at fair value and $777 and $762 of reserve for unfunded lending commitments) | 152,123 | 147,369 |
| Long-term debt (includes $31,786 and $30,037 measured at fair value) | 227,402 | 216,823 |
| Total liabilities | 2,014,088 | 1,921,872 |
| Commitments and contingencies (Note 6 Securitizations and Other Variable Interest Entities, Note 7 Representations and Warranties Obligations and Corporate Guarantees and Note 10 Commitments and Contingencies) | ||
| Shareholders equity | ||
| Preferred stock, $0.01 par value; authorized 100,000,000 shares; issued and outstanding 3,837,683 and 3,887,329 shares | 22,323 | 25,220 |
| Common stock and additional paid-in capital, $0.01 par value; authorized 12,800,000,000 shares; issued and outstanding 10,287,302,431 and 10,052,625,604 shares | 138,089 | 147,038 |
| Retained earnings | 113,816 | 101,225 |
| Accumulated other comprehensive income (loss) | (7,082) | (7,288) |
| Total shareholders equity | 267,146 | 266,195 |
| Total liabilities and shareholders equity | 2,281,234 | 2,188,067 |
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Trading account assets (includes $106,274 and $106,057 pledged as collateral) | 6,521 | 5,773 |
| Loans and leases | 48,929 | 56,001 |
| Allowance for loan and lease losses | (1,016) | (1,032) |
| Loans and leases, net of allowance | 47,913 | 54,969 |
| Loans held-for-sale (includes $2,156 and $4,026 measured at fair value) | 27 | 188 |
| Other assets (includes $20,279 and $13,802 measured at fair value) | 1,694 | 1,596 |
| Total assets | 56,155 | 62,526 |
| Short-term borrowings (includes $1,494 and $2,024 measured at fair value) | 312 | 348 |
| Long-term debt (includes $31,786 and $30,037 measured at fair value) | 9,873 | 10,646 |
| All other liabilities (includes $34 and $38 of non-recourse liabilities) | 37 | 41 |
| Total liabilities | 10,222 | 11,035 |
| External Links | |
| BANK OF AMERICA CORP /DE/ (BAC) Fiscal Year 2017 | |
| 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 |