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: 2020 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 24, 2021) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net interest income | |||
| Interest income | $ 51,585 | 71,236 | 66,769 |
| Interest expense | 8,225 | 22,345 | 18,607 |
| Net interest income | 43,360 | 48,891 | 48,162 |
| Noninterest income | |||
| Fees and commissions | 34,551 | 33,015 | 33,078 |
| Market making and similar activities | 8,355 | 9,034 | 9,008 |
| Other income | (738) | 304 | 772 |
| Total noninterest income | 42,168 | 42,353 | 42,858 |
| Total revenue, net of interest expense | 85,528 | 91,244 | 91,020 |
| Provision for credit losses | 11,320 | 3,590 | 3,282 |
| Noninterest expense | |||
| Compensation and benefits | 32,725 | 31,977 | 31,880 |
| Occupancy and equipment | 7,141 | 6,588 | 6,380 |
| Information processing and communications | 5,222 | 4,646 | 4,555 |
| Product delivery and transaction related | 3,433 | 2,762 | 2,857 |
| Marketing | 1,701 | 1,934 | 1,674 |
| Professional fees | 1,694 | 1,597 | 1,699 |
| Other general operating | 3,297 | 5,396 | 4,109 |
| Total noninterest expense | 55,213 | 54,900 | 53,154 |
| Income before income taxes | 18,995 | 32,754 | 34,584 |
| Income tax expense | 1,101 | 5,324 | 6,437 |
| Net income | 17,894 | 27,430 | 28,147 |
| Preferred stock dividends | 1,421 | 1,432 | 1,451 |
| Net income applicable to common shareholders | 16,473 | 25,998 | 26,696 |
| Per common share information | |||
| Earnings (in dollars per share) | 1.88 | 2.77 | 2.64 |
| Diluted earnings (in dollars per share) | 1.87 | 2.75 | 2.61 |
| Average common shares issued and outstanding (in shares) | 8,753,200 | 9,390,500 | 10,096,500 |
| Average diluted common shares issued and outstanding (in shares) | 8,796,900 | 9,442,900 | 10,236,900 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2020 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 24, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net income | $ 17,894 | 27,430 | 28,147 |
| Other comprehensive income (loss), net-of-tax: | |||
| Net change in debt securities | 4,799 | 5,875 | (3,953) |
| Net change in debit valuation adjustments | (498) | (963) | 749 |
| Net change in derivatives | 826 | 616 | (53) |
| Employee benefit plan adjustments | (98) | 136 | (405) |
| Net change in foreign currency translation adjustments | (52) | (86) | (254) |
| Other comprehensive income (loss) | 4,977 | 5,578 | (3,916) |
| Comprehensive income | 22,871 | 33,008 | 24,231 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2020 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 24, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Operating activities | |||
| Net income | $ 17,894 | 27,430 | 28,147 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 11,320 | 3,590 | 3,282 |
| Gains on sales of debt securities | (411) | (217) | (154) |
| Depreciation and amortization | 1,843 | 1,729 | 2,063 |
| Net amortization of premium/discount on debt securities | 4,101 | 2,066 | 1,824 |
| Deferred income taxes | (1,737) | 2,435 | 3,041 |
| Stock-based compensation | 2,031 | 1,974 | 1,729 |
| Impairment of equity method investment | 0 | 2,072 | 0 |
| Loans held-for-sale: | |||
| Originations and purchases | (19,657) | (28,874) | (28,071) |
| Proceeds from sales and paydowns of loans originally classified as held for sale and instruments from related securitization activities | 19,049 | 30,191 | 28,972 |
| Net change in: | |||
| Trading and derivative assets/liabilities | 16,942 | 7,920 | (23,673) |
| Other assets | (12,883) | (11,113) | 11,920 |
| Accrued expenses and other liabilities | (4,385) | 16,363 | 13,010 |
| Other operating activities, net | 3,886 | 6,211 | (2,570) |
| Net cash provided by operating activities | 37,993 | 61,777 | 39,520 |
| Investing activities | |||
| Time deposits placed and other short-term investments | 561 | 387 | 3,659 |
| Federal funds sold and securities borrowed or purchased under agreements to resell | (29,461) | (13,466) | (48,384) |
| Debt securities carried at fair value: | |||
| Proceeds from sales | 77,524 | 52,006 | 5,117 |
| Proceeds from paydowns and maturities | 91,084 | 79,114 | 78,513 |
| Purchases | (194,877) | (152,782) | (76,640) |
| Held-to-maturity debt securities: | |||
| Proceeds from paydowns and maturities | 93,835 | 34,770 | 18,789 |
| Purchases | (257,535) | (37,115) | (35,980) |
| Loans and leases: | |||
| Proceeds from sales of loans originally classified as held for investment and instruments from related securitization activities | 13,351 | 12,201 | 21,365 |
| Purchases | (5,229) | (5,963) | (4,629) |
| Other changes in loans and leases, net | 36,571 | (46,808) | (31,292) |
| Other investing activities, net | (3,489) | (2,974) | (1,986) |
| Net cash used in investing activities | (177,665) | (80,630) | (71,468) |
| Financing activities | |||
| Deposits | 360,677 | 53,327 | 71,931 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase | 5,214 | (21,879) | 10,070 |
| Short-term borrowings | (4,893) | 4,004 | (12,478) |
| Long-term debt: | |||
| Proceeds from issuance | 57,013 | 52,420 | 64,278 |
| Retirement | (47,948) | (50,794) | (53,046) |
| Preferred stock: | |||
| Proceeds from issuance | 2,181 | 3,643 | 4,515 |
| Redemption | (1,072) | (2,568) | (4,512) |
| Common stock repurchased | (7,025) | (28,144) | (20,094) |
| Cash dividends paid | (7,727) | (5,934) | (6,895) |
| Other financing activities, net | (601) | (698) | (651) |
| Net cash provided by financing activities | 355,819 | 3,377 | 53,118 |
| Effect of exchange rate changes on cash and cash equivalents | 2,756 | (368) | (1,200) |
| Net increase (decrease) in cash and cash equivalents | 218,903 | (15,844) | 19,970 |
| Cash and cash equivalents at January 1 | 161,560 | 177,404 | 157,434 |
| Cash and cash equivalents at December 31 | 380,463 | 161,560 | 177,404 |
| Supplemental cash flow disclosures | |||
| Interest paid | 8,662 | 22,196 | 19,087 |
| Income taxes paid, net | 2,894 | 4,359 | 2,470 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BANK OF AMERICA CORP /DE/ | ||
Ticker: BAC Fiscal Year: 2020 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 24, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Cash and due from banks | $ 36,430 | 30,152 |
| Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks | 344,033 | 131,408 |
| Cash and cash equivalents | 380,463 | 161,560 |
| Time deposits placed and other short-term investments | 6,546 | 7,107 |
| Federal funds sold and securities borrowed or purchased under agreements to resell (includes $108,856 and $50,364 measured at fair value) | 304,058 | 274,597 |
| Trading account assets (includes $91,510 and $90,946 pledged as collateral) | 198,854 | 229,826 |
| Derivative assets | 47,179 | 40,485 |
| Debt securities: | ||
| Carried at fair value | 246,601 | 256,467 |
| Held-to-maturity, at cost (fair value $448,180 and $219,821) | 438,249 | 215,730 |
| Total debt securities | 684,850 | 472,197 |
| Loans and leases (includes $6,681 and $8,335 measured at fair value) | 927,861 | 983,426 |
| Allowance for loan and lease losses | (18,802) | (9,416) |
| Loans and leases, net of allowance | 909,059 | 974,010 |
| Premises and equipment, net | 11,000 | 10,561 |
| Goodwill | 68,951 | 68,951 |
| Loans held-for-sale (includes $1,585 and $3,709 measured at fair value) | 9,243 | 9,158 |
| Customer and other receivables | 64,221 | 55,937 |
| Other assets (includes $15,718 and $15,518 measured at fair value) | 135,203 | 129,690 |
| Total assets | 2,819,627 | 2,434,079 |
| Liabilities | ||
| Deposits in U.S. offices: | ||
| Noninterest-bearing | 650,674 | 403,305 |
| Interest-bearing (includes $481 and $508 measured at fair value) | 1,038,341 | 940,731 |
| Deposits in non-U.S. offices: | ||
| Noninterest-bearing | 17,698 | 13,719 |
| Interest-bearing | 88,767 | 77,048 |
| Total deposits | 1,795,480 | 1,434,803 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $135,391 and $16,008 measured at fair value) | 170,323 | 165,109 |
| Trading account liabilities | 71,320 | 83,270 |
| Derivative liabilities | 45,526 | 38,229 |
| Short-term borrowings (includes $5,874 and $3,941 measured at fair value) | 19,321 | 24,204 |
| Accrued expenses and other liabilities (includes $16,311 and $15,434 measured at fair value and $1,878 and $813 of reserve for unfunded lending commitments) | 181,799 | 182,798 |
| Long-term debt (includes $32,200 and $34,975 measured at fair value) | 262,934 | 240,856 |
| Total liabilities | 2,546,703 | 2,169,269 |
| Commitments and contingencies (Note 6 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 3,931,440 and 3,887,440 shares | 24,510 | 23,401 |
| Common stock and additional paid-in capital, $0.01 par value; authorized 12,800,000,000 shares; issued and outstanding 8,650,814,105 and 8,836,148,954 shares | 85,982 | 91,723 |
| Retained earnings | 164,088 | 156,319 |
| Accumulated other comprehensive income (loss) | (1,656) | (6,633) |
| Total shareholders equity | 272,924 | 264,810 |
| Total liabilities and shareholders equity | 2,819,627 | 2,434,079 |
| Consolidated Entities | ||
| Consolidated VIEs | ||
| Trading account assets (includes $91,510 and $90,946 pledged as collateral) | 5,225 | 5,811 |
| Loans and leases (includes $6,681 and $8,335 measured at fair value) | 23,636 | 38,837 |
| Allowance for loan and lease losses | (1,693) | (807) |
| Loans and leases, net of allowance | 21,943 | 38,030 |
| Other assets (includes $15,718 and $15,518 measured at fair value) | 1,387 | 540 |
| Total assets | 28,555 | 44,381 |
| Short-term borrowings (includes $5,874 and $3,941 measured at fair value) | 454 | 2,175 |
| Long-term debt (includes $32,200 and $34,975 measured at fair value) | 7,053 | 8,718 |
| All other liabilities (includes $16 and $19 of non-recourse liabilities) | 16 | 22 |
| Total liabilities | 7,523 | 10,915 |
| External Links | |
| BANK OF AMERICA CORP /DE/ (BAC) Fiscal Year 2020 | |
| 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 |