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: 2019 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net interest income | |||
| Interest income | $ 71,236 | 66,769 | 57,579 |
| Interest expense | 22,345 | 18,607 | 12,340 |
| Net interest income | 48,891 | 48,162 | 45,239 |
| Noninterest income | |||
| Fees and commissions | 33,015 | 33,078 | 33,341 |
| Market making and similar activities | 9,034 | 9,008 | 7,102 |
| Other income | 304 | 772 | 1,444 |
| Total noninterest income | 42,353 | 42,858 | 41,887 |
| Total revenue, net of interest expense | 91,244 | 91,020 | 87,126 |
| Provision for credit losses | 3,590 | 3,282 | 3,396 |
| Noninterest expense | |||
| Compensation and benefits | 31,977 | 31,880 | 31,931 |
| Occupancy and equipment | 6,588 | 6,380 | 6,264 |
| Information processing and communications | 4,646 | 4,555 | 4,530 |
| Product delivery and transaction related | 2,762 | 2,857 | 3,041 |
| Marketing | 1,934 | 1,674 | 1,746 |
| Professional fees | 1,597 | 1,699 | 1,888 |
| Other general operating | 5,396 | 4,109 | 5,117 |
| Total noninterest expense | 54,900 | 53,154 | 54,517 |
| Income before income taxes | 32,754 | 34,584 | 29,213 |
| Income tax expense | 5,324 | 6,437 | 10,981 |
| Net income | 27,430 | 28,147 | 18,232 |
| Preferred stock dividends | 1,432 | 1,451 | 1,614 |
| Net income applicable to common shareholders | 25,998 | 26,696 | 16,618 |
| Per common share information | |||
| Earnings (in dollars per share) | 2.77 | 2.64 | 1.63 |
| Diluted earnings (in dollars per share) | 2.75 | 2.61 | 1.56 |
| Average common shares issued and outstanding (in shares) | 9,390,500 | 10,096,500 | 10,195,600 |
| Average diluted common shares issued and outstanding (in shares) | 9,442,900 | 10,236,900 | 10,778,400 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2019 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net income | $ 27,430 | 28,147 | 18,232 |
| Other comprehensive income (loss), net-of-tax: | |||
| Net change in debt securities | 5,875 | (3,953) | 61 |
| Net change in debit valuation adjustments | (963) | 749 | (293) |
| Net change in derivatives | 616 | (53) | |
| Net change in derivatives | 64 | ||
| Employee benefit plan adjustments | 136 | (405) | 288 |
| Net change in foreign currency translation adjustments | (86) | (254) | 86 |
| Other comprehensive income (loss) | 5,578 | (3,916) | 206 |
| Comprehensive income | 33,008 | 24,231 | 18,438 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2019 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Operating activities | |||
| Net income | $ 27,430 | 28,147 | 18,232 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 3,590 | 3,282 | 3,396 |
| Gains on sales of debt securities | (217) | (154) | (255) |
| Depreciation and amortization | 1,729 | 2,063 | 2,103 |
| Net amortization of premium/discount on debt securities | 2,066 | 1,824 | 2,251 |
| Deferred income taxes | 2,435 | 3,041 | 8,175 |
| Stock-based compensation | 1,974 | 1,729 | 1,649 |
| Impairment of equity method investment | 2,072 | 0 | 0 |
| Loans held-for-sale: | |||
| Originations and purchases | (28,874) | (28,071) | (43,506) |
| Proceeds from sales and paydowns of loans originally classified as held for sale and instruments from related securitization activities | 30,191 | 28,972 | 40,548 |
| Net change in: | |||
| Trading and derivative assets/liabilities | 7,920 | (23,673) | (14,663) |
| Other assets | (11,113) | 11,920 | (20,090) |
| Accrued expenses and other liabilities | 16,363 | 13,010 | 4,673 |
| Other operating activities, net | 6,211 | (2,570) | 7,351 |
| Net cash provided by operating activities | 61,777 | 39,520 | 9,864 |
| Investing activities | |||
| Net change in: | |||
| Time deposits placed and other short-term investments | 387 | 3,659 | (1,292) |
| Federal funds sold and securities borrowed or purchased under agreements to resell | (13,466) | (48,384) | (14,523) |
| Debt securities carried at fair value: | |||
| Proceeds from sales | 52,006 | 5,117 | 73,353 |
| Proceeds from paydowns and maturities | 79,114 | 78,513 | 93,874 |
| Purchases | (152,782) | (76,640) | (166,975) |
| Held-to-maturity debt securities: | |||
| Proceeds from paydowns and maturities | 34,770 | 18,789 | 16,653 |
| Purchases | (37,115) | (35,980) | (25,088) |
| Loans and leases: | |||
| Proceeds from sales of loans originally classified as held for investment and instruments from related securitization activities | 12,201 | 21,365 | 11,996 |
| Purchases | (5,963) | (4,629) | (6,846) |
| Other changes in loans and leases, net | (46,808) | (31,292) | (41,104) |
| Other investing activities, net | (2,974) | (1,986) | 8,411 |
| Net cash used in investing activities | (80,630) | (71,468) | (51,541) |
| Financing activities | |||
| Net change in: | |||
| Deposits | 53,327 | 71,931 | 48,611 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase | (21,879) | 10,070 | 7,024 |
| Short-term borrowings | 4,004 | (12,478) | 8,538 |
| Long-term debt: | |||
| Proceeds from issuance | 52,420 | 64,278 | 53,486 |
| Retirement | (50,794) | (53,046) | (49,480) |
| Preferred stock: | |||
| Proceeds from issuance | 3,643 | 4,515 | 0 |
| Redemption | (2,568) | (4,512) | 0 |
| Common stock repurchased | (28,144) | (20,094) | (12,814) |
| Cash dividends paid | (5,934) | (6,895) | (5,700) |
| Other financing activities, net | (698) | (651) | (397) |
| Net cash provided by financing activities | 3,377 | 53,118 | 49,268 |
| Effect of exchange rate changes on cash and cash equivalents | (368) | (1,200) | 2,105 |
| Net increase (decrease) in cash and cash equivalents | (15,844) | 19,970 | 9,696 |
| Cash and cash equivalents at January 1 | 177,404 | 157,434 | 147,738 |
| Cash and cash equivalents at December 31 | 161,560 | 177,404 | 157,434 |
| Supplemental Cash Flow Information [Abstract] | |||
| Interest paid | 22,196 | 19,087 | 12,852 |
| Income taxes paid, net | 4,359 | 2,470 | 3,235 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BANK OF AMERICA CORP /DE/ | ||
Ticker: BAC Fiscal Year: 2019 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| Assets | ||
| Cash and due from banks | $ 30,152 | 29,063 |
| Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks | 131,408 | 148,341 |
| Cash and cash equivalents | 161,560 | 177,404 |
| Time deposits placed and other short-term investments | 7,107 | 7,494 |
| Federal funds sold and securities borrowed or purchased under agreements to resell (includes $50,364 and $56,399 measured at fair value) | 274,597 | 261,131 |
| Trading account assets (includes $90,946 and $119,363 pledged as collateral) | 229,826 | 214,348 |
| Derivative assets | 40,485 | 43,725 |
| Debt securities: | ||
| Carried at fair value | 256,467 | 238,101 |
| Held-to-maturity, at cost (fair value $219,821 and $200,435) | 215,730 | 203,652 |
| Total debt securities | 472,197 | 441,753 |
| Loans and leases (includes $8,335 and $4,349 measured at fair value) | 983,426 | 946,895 |
| Allowance for loan and lease losses | (9,416) | (9,601) |
| Loans and leases, net of allowance | 974,010 | 937,294 |
| Premises and equipment, net | 10,561 | 9,906 |
| Goodwill | 68,951 | 68,951 |
| Loans held-for-sale (includes $3,709 and $2,942 measured at fair value) | 9,158 | 10,367 |
| Customer and other receivables | 55,937 | 65,814 |
| Other assets (includes $15,518 and $19,739 measured at fair value) | 129,690 | 116,320 |
| Total assets | 2,434,079 | 2,354,507 |
| Liabilities | ||
| Deposits in U.S. offices: | ||
| Noninterest-bearing | 403,305 | 412,587 |
| Interest-bearing (includes $508 and $492 measured at fair value) | 940,731 | 891,636 |
| Deposits in non-U.S. offices: | ||
| Noninterest-bearing | 13,719 | 14,060 |
| Interest-bearing | 77,048 | 63,193 |
| Total deposits | 1,434,803 | 1,381,476 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $16,008 and $28,875 measured at fair value) | 165,109 | 186,988 |
| Trading account liabilities | 83,270 | 68,220 |
| Derivative liabilities | 38,229 | 37,891 |
| Short-term borrowings (includes $3,941 and $1,648 measured at fair value) | 24,204 | 20,189 |
| Accrued expenses and other liabilities (includes $15,434 and $20,075 measured at fair value and $813 and $797 of reserve for unfunded lending commitments) | 182,798 | 165,026 |
| Long-term debt (includes $34,975 and $27,689 measured at fair value) | 240,856 | 229,392 |
| Total liabilities | 2,169,269 | 2,089,182 |
| Commitments and contingencies (Note 7 Securitizations and Other Variable Interest Entities and Note 13 Commitments and Contingencies) | ||
| Shareholders equity | ||
| Preferred stock, $0.01 par value; authorized 100,000,000 shares; issued and outstanding 3,887,440 and 3,843,140 shares | 23,401 | 22,326 |
| Common stock and additional paid-in capital, $0.01 par value; authorized 12,800,000,000 shares; issued and outstanding 8,836,148,954 and 9,669,286,370 shares | 91,723 | 118,896 |
| Retained earnings | 156,319 | 136,314 |
| Accumulated other comprehensive income (loss) | (6,633) | (12,211) |
| Total shareholders equity | 264,810 | 265,325 |
| Total liabilities and shareholders equity | 2,434,079 | 2,354,507 |
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Trading account assets (includes $90,946 and $119,363 pledged as collateral) | 5,811 | 5,798 |
| Loans and leases (includes $8,335 and $4,349 measured at fair value) | 38,837 | 43,850 |
| Allowance for loan and lease losses | (807) | (912) |
| Loans and leases, net of allowance | 38,030 | 42,938 |
| Other assets (includes $15,518 and $19,739 measured at fair value) | 540 | 337 |
| Total assets | 44,381 | 49,073 |
| Short-term borrowings (includes $3,941 and $1,648 measured at fair value) | 2,175 | 742 |
| Long-term debt (includes $34,975 and $27,689 measured at fair value) | 8,718 | 10,944 |
| All other liabilities (includes $19 and $27 of non-recourse liabilities) | 22 | 30 |
| Total liabilities | 10,915 | 11,716 |
| External Links | |
| BANK OF AMERICA CORP /DE/ (BAC) Fiscal Year 2019 | |
| 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 |