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: 2018 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 26, 2019) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Interest income | |||
| Loans and leases | $ 40,811 | 36,221 | 33,228 |
| Debt securities | 11,724 | 10,471 | 9,167 |
| Federal funds sold and securities borrowed or purchased under agreements to resell | 3,176 | 2,390 | 1,118 |
| Trading account assets | 4,811 | 4,474 | 4,423 |
| Other interest income | 6,247 | 4,023 | 3,121 |
| Total interest income | 66,769 | 57,579 | 51,057 |
| Interest expense | |||
| Deposits | 4,495 | 1,931 | 1,015 |
| Short-term borrowings | 5,839 | 3,538 | 2,350 |
| Trading account liabilities | 1,358 | 1,204 | 1,018 |
| Long-term debt | 7,645 | 6,239 | 5,578 |
| Total interest expense | 19,337 | 12,912 | 9,961 |
| Net interest income | 47,432 | 44,667 | 41,096 |
| Noninterest income | |||
| Card income | 6,051 | 5,902 | 5,851 |
| Service charges | 7,767 | 7,818 | 7,638 |
| Investment and brokerage services | 14,160 | 13,836 | 13,349 |
| Investment banking income | 5,327 | 6,011 | 5,241 |
| Trading account profits | 8,540 | 7,277 | 6,902 |
| Other income | 1,970 | 1,841 | 3,624 |
| Total noninterest income | 43,815 | 42,685 | 42,605 |
| Total revenue, net of interest expense | 91,247 | 87,352 | 83,701 |
| Provision for credit losses | 3,282 | 3,396 | 3,597 |
| Noninterest expense | |||
| Personnel | 31,880 | 31,931 | 32,018 |
| Occupancy | 4,066 | 4,009 | 4,038 |
| Equipment | 1,705 | 1,692 | 1,804 |
| Marketing | 1,674 | 1,746 | 1,703 |
| Professional fees | 1,699 | 1,888 | 1,971 |
| Data processing | 3,222 | 3,139 | 3,007 |
| Telecommunications | 699 | 699 | 746 |
| Other general operating | 8,436 | 9,639 | 9,796 |
| Total noninterest expense | 53,381 | 54,743 | 55,083 |
| Income before income taxes | 34,584 | 29,213 | 25,021 |
| Income tax expense | 6,437 | 10,981 | 7,199 |
| Net income | 28,147 | 18,232 | 17,822 |
| Preferred stock dividends | 1,451 | 1,614 | 1,682 |
| Net income applicable to common shareholders | 26,696 | 16,618 | 16,140 |
| Per common share information | |||
| Earnings (in dollars per share) | 2.64 | 1.63 | 1.57 |
| Diluted earnings (in dollars per share) | 2.61 | 1.56 | 1.49 |
| Average common shares issued and outstanding (in shares) | 10,096,500 | 10,195,600 | 10,284,100 |
| Average diluted common shares issued and outstanding (in shares) | 10,236,900 | 10,778,400 | 11,046,800 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2018 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 26, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Net income | $ 28,147 | 18,232 | 17,822 |
| Other comprehensive income (loss), net-of-tax: | |||
| Net change in debt and equity securities | (3,953) | 61 | (1,345) |
| Net change in debit valuation adjustments | 749 | (293) | (156) |
| Net change in derivatives | (53) | ||
| Net change in derivatives | 64 | 182 | |
| Employee benefit plan adjustments | (405) | 288 | (524) |
| Net change in foreign currency translation adjustments | (254) | 86 | (87) |
| Other comprehensive income (loss) | (3,916) | 206 | (1,930) |
| Comprehensive income | 24,231 | 18,438 | 15,892 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2018 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 26, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Operating activities | |||
| Net income | $ 28,147 | 18,232 | 17,822 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 3,282 | 3,396 | 3,597 |
| Gains on sales of debt securities | (154) | (255) | (490) |
| Depreciation and premises improvements amortization | 1,525 | 1,482 | 1,511 |
| Amortization of intangibles | 538 | 621 | 730 |
| Net amortization of premium/discount on debt securities | 1,824 | 2,251 | 3,134 |
| Deferred income taxes | 3,041 | 8,175 | 5,793 |
| Stock-based compensation | 1,729 | 1,649 | 1,367 |
| Loans held-for-sale: | |||
| Originations and purchases | (28,071) | (43,506) | (33,107) |
| Proceeds from sales and paydowns of loans originally classified as held for sale and instruments from related securitization activities | 28,972 | 40,548 | 32,588 |
| Net change in: | |||
| Trading and derivative instruments | (23,673) | (14,663) | (2,635) |
| Other assets | 11,920 | (20,090) | (14,103) |
| Accrued expenses and other liabilities | 13,010 | 4,673 | (35) |
| Other operating activities, net | (2,570) | 7,351 | 1,105 |
| Net cash provided by operating activities | 39,520 | 9,864 | 17,277 |
| Investing activities | |||
| Net change in: | |||
| Time deposits placed and other short-term investments | 3,659 | (1,292) | (2,117) |
| Federal funds sold and securities borrowed or purchased under agreements to resell | (48,384) | (14,523) | (5,742) |
| Debt securities carried at fair value: | |||
| Proceeds from sales | 5,117 | 73,353 | 71,547 |
| Proceeds from paydowns and maturities | 78,513 | 93,874 | 108,592 |
| Purchases | (76,640) | (166,975) | (189,061) |
| Held-to-maturity debt securities: | |||
| Proceeds from paydowns and maturities | 18,789 | 16,653 | 18,677 |
| Purchases | (35,980) | (25,088) | (39,899) |
| Loans and leases: | |||
| Proceeds from sales of loans originally classified as held for investment and instruments from related securitization activities | 21,365 | 11,996 | 18,787 |
| Purchases | (4,629) | (6,846) | (12,283) |
| Other changes in loans and leases, net | (31,292) | (41,104) | (31,194) |
| Other investing activities, net | (1,986) | 8,411 | 408 |
| Net cash used in investing activities | (71,468) | (51,541) | (62,285) |
| Financing activities | |||
| Net change in: | |||
| Deposits | 71,931 | 48,611 | 63,675 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase | 10,070 | 7,024 | (4,000) |
| Short-term borrowings | (12,478) | 8,538 | (4,014) |
| Long-term debt: | |||
| Proceeds from issuance | 64,278 | 53,486 | 35,537 |
| Retirement | (53,046) | (49,480) | (51,623) |
| Preferred stock: | |||
| Proceeds from issuance | 4,515 | 0 | 2,947 |
| Redemption | (4,512) | 0 | 0 |
| Common stock repurchased | (20,094) | (12,814) | (5,112) |
| Cash dividends paid | (6,895) | (5,700) | (4,194) |
| Other financing activities, net | (651) | (397) | (63) |
| Net cash provided by financing activities | 53,118 | 49,268 | 33,153 |
| Effect of exchange rate changes on cash and cash equivalents | (1,200) | 2,105 | 240 |
| Net increase (decrease) in cash and cash equivalents | 19,970 | 9,696 | (11,615) |
| Cash and cash equivalents at January 1 | 157,434 | 147,738 | 159,353 |
| Cash and cash equivalents at December 31 | 177,404 | 157,434 | 147,738 |
| Supplemental cash flow disclosures | |||
| Interest paid | 19,087 | 12,852 | 10,510 |
| Income taxes paid, net | 2,470 | 3,235 | 1,043 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BANK OF AMERICA CORP /DE/ | ||
Ticker: BAC Fiscal Year: 2018 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2018 10-K (Filed: Feb 26, 2019) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2018 | Dec 31, 2017 | |
| Assets | ||
| Cash and due from banks | $ 29,063 | 29,480 |
| Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks | 148,341 | 127,954 |
| Cash and cash equivalents | 177,404 | 157,434 |
| Time deposits placed and other short-term investments | 7,494 | 11,153 |
| Federal funds sold and securities borrowed or purchased under agreements to resell (includes $56,399 and $52,906 measured at fair value) | 261,131 | 212,747 |
| Trading account assets (includes $119,363 and $106,274 pledged as collateral) | 214,348 | 209,358 |
| Derivative assets | 43,725 | 37,762 |
| Debt securities: | ||
| Carried at fair value | 238,101 | 315,117 |
| Held-to-maturity, at cost (fair value $200,435 and $123,299) | 203,652 | 125,013 |
| Total debt securities | 441,753 | 440,130 |
| Loans and leases (includes $4,349 and $5,710 measured at fair value) | 946,895 | 936,749 |
| Allowance for loan and lease losses | (9,601) | (10,393) |
| Loans and leases, net of allowance | 937,294 | 926,356 |
| Premises and equipment, net | 9,906 | 9,247 |
| Goodwill | 68,951 | 68,951 |
| Loans held-for-sale (includes $2,942 and $2,156 measured at fair value) | 10,367 | 11,430 |
| Customer and other receivables | 65,814 | 61,623 |
| Other assets (includes $19,739 and $22,581 measured at fair value) | 116,320 | 135,043 |
| Total assets | 2,354,507 | 2,281,234 |
| Liabilities | ||
| Deposits in U.S. offices: | ||
| Noninterest-bearing | 412,587 | 430,650 |
| Interest-bearing (includes $492 and $449 measured at fair value) | 891,636 | 796,576 |
| Deposits in non-U.S. offices: | ||
| Noninterest-bearing | 14,060 | 14,024 |
| Interest-bearing | 63,193 | 68,295 |
| Total deposits | 1,381,476 | 1,309,545 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $28,875 and $36,182 measured at fair value) | 186,988 | 176,865 |
| Trading account liabilities | 68,220 | 81,187 |
| Derivative liabilities | 37,891 | 34,300 |
| Short-term borrowings (includes $1,648 and $1,494 measured at fair value) | 20,189 | 32,666 |
| Accrued expenses and other liabilities (includes $20,075 and $22,840 measured at fair value and $797 and $777 of reserve for unfunded lending commitments) | 165,078 | 152,123 |
| Long-term debt (includes $27,637 and $31,786 measured at fair value) | 229,340 | 227,402 |
| Total liabilities | 2,089,182 | 2,014,088 |
| Commitments and contingencies (Note 7 Securitizations and Other Variable Interest Entities and Note 12 Commitments and Contingencies) | ||
| Shareholders equity | ||
| Preferred stock, $0.01 par value; authorized 100,000,000 shares; issued and outstanding 3,843,140 and 3,837,683 shares | 22,326 | 22,323 |
| Common stock and additional paid-in capital, $0.01 par value; authorized 12,800,000,000 shares; issued and outstanding 9,669,286,370 and 10,287,302,431 shares | 118,896 | 138,089 |
| Retained earnings | 136,314 | 113,816 |
| Accumulated other comprehensive income (loss) | (12,211) | (7,082) |
| Total shareholders equity | 265,325 | 267,146 |
| Total liabilities and shareholders equity | 2,354,507 | 2,281,234 |
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Trading account assets (includes $119,363 and $106,274 pledged as collateral) | 5,798 | 6,521 |
| Loans and leases (includes $4,349 and $5,710 measured at fair value) | 43,850 | 48,929 |
| Allowance for loan and lease losses | (912) | (1,016) |
| Loans and leases, net of allowance | 42,938 | 47,913 |
| Other assets (includes $19,739 and $22,581 measured at fair value) | 337 | 1,721 |
| Total assets | 49,073 | 56,155 |
| Short-term borrowings (includes $1,648 and $1,494 measured at fair value) | 742 | 312 |
| Long-term debt (includes $27,637 and $31,786 measured at fair value) | 10,944 | 9,873 |
| All other liabilities (includes $27 and $34 of non-recourse liabilities) | 30 | 37 |
| Total liabilities | 11,716 | 10,222 |
| External Links | |
| BANK OF AMERICA CORP /DE/ (BAC) Fiscal Year 2018 | |
| 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 |