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: 2021 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 22, 2022) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net interest income | |||
| Interest income | $ 47,672 | 51,585 | 71,236 |
| Interest expense | 4,738 | 8,225 | 22,345 |
| Net interest income | 42,934 | 43,360 | 48,891 |
| Noninterest income | |||
| Fees and commissions | 39,299 | 34,551 | 33,015 |
| Market making and similar activities | 8,691 | 8,355 | 9,034 |
| Other income | (1,811) | (738) | 304 |
| Total noninterest income | 46,179 | 42,168 | 42,353 |
| Total revenue, net of interest expense | 89,113 | 85,528 | 91,244 |
| Provision for credit losses | (4,594) | 11,320 | 3,590 |
| Noninterest expense | |||
| Compensation and benefits | 36,140 | 32,725 | 31,977 |
| Occupancy and equipment | 7,138 | 7,141 | 6,588 |
| Information processing and communications | 5,769 | 5,222 | 4,646 |
| Product delivery and transaction related | 3,881 | 3,433 | 2,762 |
| Marketing | 1,939 | 1,701 | 1,934 |
| Professional fees | 1,775 | 1,694 | 1,597 |
| Other general operating | 3,089 | 3,297 | 5,396 |
| Total noninterest expense | 59,731 | 55,213 | 54,900 |
| Income before income taxes | 33,976 | 18,995 | 32,754 |
| Income tax expense | 1,998 | 1,101 | 5,324 |
| Net income | 31,978 | 17,894 | 27,430 |
| Preferred stock dividends | 1,421 | 1,421 | 1,432 |
| Net income applicable to common shareholders | 30,557 | 16,473 | 25,998 |
| Per common share information | |||
| Earnings (in dollars per share) | 3.60 | 1.88 | 2.77 |
| Diluted earnings (in dollars per share) | 3.57 | 1.87 | 2.75 |
| Average common shares issued and outstanding (in shares) | 8,493,300 | 8,753,200 | 9,390,500 |
| Average diluted common shares issued and outstanding (in shares) | 8,558,400 | 8,796,900 | 9,442,900 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2021 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 22, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net income | $ 31,978 | 17,894 | 27,430 |
| Other comprehensive income (loss), net-of-tax: | |||
| Net change in debt securities | (2,077) | 4,799 | 5,875 |
| Net change in debit valuation adjustments | 356 | (498) | (963) |
| Net change in derivatives | (2,306) | 826 | 616 |
| Employee benefit plan adjustments | 624 | (98) | 136 |
| Net change in foreign currency translation adjustments | (45) | (52) | (86) |
| Other comprehensive income (loss) | (3,448) | 4,977 | 5,578 |
| Comprehensive income | 28,530 | 22,871 | 33,008 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2021 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 22, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Operating activities | |||
| Net income | $ 31,978 | 17,894 | 27,430 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | (4,594) | 11,320 | 3,590 |
| Gains on sales of debt securities | (22) | (411) | (217) |
| Depreciation and amortization | 1,898 | 1,843 | 1,729 |
| Net amortization of premium/discount on debt securities | 5,837 | 4,101 | 2,066 |
| Deferred income taxes | (838) | (1,737) | 2,435 |
| Stock-based compensation | 2,768 | 2,031 | 1,974 |
| Impairment of equity method investment | 0 | 0 | 2,072 |
| Loans held-for-sale: | |||
| Originations and purchases | (43,635) | (19,657) | (28,874) |
| Proceeds from sales and paydowns of loans originally classified as held for sale and instruments from related securitization activities | 34,684 | 19,049 | 30,191 |
| Net change in: | |||
| Trading and derivative assets/liabilities | (22,104) | 16,942 | 7,920 |
| Other assets | (34,455) | (12,883) | (11,113) |
| Accrued expenses and other liabilities | 16,639 | (4,385) | 16,363 |
| Other operating activities, net | 4,651 | 3,886 | 6,211 |
| Net cash provided by (used in) operating activities | (7,193) | 37,993 | 61,777 |
| Investing activities | |||
| Time deposits placed and other short-term investments | (598) | 561 | 387 |
| Federal funds sold and securities borrowed or purchased under agreements to resell | 53,338 | (29,461) | (13,466) |
| Debt securities carried at fair value: | |||
| Proceeds from sales | 6,893 | 77,524 | 52,006 |
| Proceeds from paydowns and maturities | 159,616 | 91,084 | 79,114 |
| Purchases | (238,398) | (194,877) | (152,782) |
| Held-to-maturity debt securities: | |||
| Proceeds from paydowns and maturities | 124,880 | 93,835 | 34,770 |
| Purchases | (362,736) | (257,535) | (37,115) |
| Loans and leases: | |||
| Proceeds from sales of loans originally classified as held for investment and instruments from related securitization activities | 10,396 | 13,351 | 12,201 |
| Purchases | (5,164) | (5,229) | (5,963) |
| Other changes in loans and leases, net | (58,039) | 36,571 | (46,808) |
| Other investing activities, net | (3,479) | (3,489) | (2,974) |
| Net cash used in investing activities | (313,291) | (177,665) | (80,630) |
| Financing activities | |||
| Deposits | 268,966 | 360,677 | 53,327 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase | 22,006 | 5,214 | (21,879) |
| Short-term borrowings | 4,432 | (4,893) | 4,004 |
| Long-term debt: | |||
| Proceeds from issuance | 76,675 | 57,013 | 52,420 |
| Retirement | (46,826) | (47,948) | (50,794) |
| Preferred stock: | |||
| Proceeds from issuance | 2,169 | 2,181 | 3,643 |
| Redemption | (1,971) | (1,072) | (2,568) |
| Common stock repurchased | (25,126) | (7,025) | (28,144) |
| Cash dividends paid | (8,055) | (7,727) | (5,934) |
| Other financing activities, net | (620) | (601) | (698) |
| Net cash provided by financing activities | 291,650 | 355,819 | 3,377 |
| Effect of exchange rate changes on cash and cash equivalents | (3,408) | 2,756 | (368) |
| Net increase (decrease) in cash and cash equivalents | (32,242) | 218,903 | (15,844) |
| Cash and cash equivalents at January 1 | 380,463 | 161,560 | 177,404 |
| Cash and cash equivalents at December 31 | 348,221 | 380,463 | 161,560 |
| Supplemental cash flow disclosures | |||
| Interest paid | 4,506 | 8,662 | 22,196 |
| Income taxes paid, net | 2,760 | 2,894 | 4,359 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BANK OF AMERICA CORP /DE/ | ||
Ticker: BAC Fiscal Year: 2021 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 22, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Cash and due from banks | $ 29,222 | 36,430 |
| Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks | 318,999 | 344,033 |
| Cash and cash equivalents | 348,221 | 380,463 |
| Time deposits placed and other short-term investments | 7,144 | 6,546 |
| Federal funds sold and securities borrowed or purchased under agreements to resell (includes $150,665 and $108,856 measured at fair value) | 250,720 | 304,058 |
| Trading account assets (includes $103,434 and $91,510 pledged as collateral) | 247,080 | 198,854 |
| Derivative assets | 35,344 | 47,179 |
| Debt securities: | ||
| Carried at fair value | 308,073 | 246,601 |
| Held-to-maturity, at cost (fair value $665,890 and $448,180) | 674,554 | 438,249 |
| Total debt securities | 982,627 | 684,850 |
| Loans and leases (includes $7,819 and $6,681 measured at fair value) | 979,124 | 927,861 |
| Allowance for loan and lease losses | (12,387) | (18,802) |
| Loans and leases, net of allowance | 966,737 | 909,059 |
| Premises and equipment, net | 10,833 | 11,000 |
| Goodwill | 69,022 | 68,951 |
| Loans held-for-sale (includes $4,455 and $1,585 measured at fair value) | 15,635 | 9,243 |
| Customer and other receivables | 72,263 | 64,221 |
| Other assets (includes $12,144 and $15,718 measured at fair value) | 163,869 | 135,203 |
| Total assets | 3,169,495 | 2,819,627 |
| Liabilities | ||
| Deposits in U.S. offices: | ||
| Noninterest-bearing | 784,189 | 650,674 |
| Interest-bearing (includes $408 and $481 measured at fair value) | 1,165,914 | 1,038,341 |
| Deposits in non-U.S. offices: | ||
| Noninterest-bearing | 27,457 | 17,698 |
| Interest-bearing | 86,886 | 88,767 |
| Total deposits | 2,064,446 | 1,795,480 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $139,641 and $135,391 measured at fair value) | 192,329 | 170,323 |
| Trading account liabilities | 100,690 | 71,320 |
| Derivative liabilities | 37,675 | 45,526 |
| Short-term borrowings (includes $4,279 and $5,874 measured at fair value) | 23,753 | 19,321 |
| Accrued expenses and other liabilities (includes $11,489 and $16,311 measured at fair value and $1,456 and $1,878 of reserve for unfunded lending commitments) | 200,419 | 181,799 |
| Long-term debt (includes $29,708 and $32,200 measured at fair value) | 280,117 | 262,934 |
| Total liabilities | 2,899,429 | 2,546,703 |
| 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 3,939,686 and 3,931,440 shares | 24,708 | 24,510 |
| Common stock and additional paid-in capital, $0.01 par value; authorized 12,800,000,000 shares; issued and outstanding 8,077,831,463 and 8,650,814,105 shares | 62,398 | 85,982 |
| Retained earnings | 188,064 | 164,088 |
| Accumulated other comprehensive income (loss) | (5,104) | (1,656) |
| Total shareholders equity | 270,066 | 272,924 |
| Total liabilities and shareholders equity | 3,169,495 | 2,819,627 |
| Consolidated Entities | ||
| Consolidated VIEs | ||
| Trading account assets (includes $103,434 and $91,510 pledged as collateral) | 5,004 | 5,225 |
| Loans and leases (includes $7,819 and $6,681 measured at fair value) | 17,135 | 23,636 |
| Allowance for loan and lease losses | (958) | (1,693) |
| Loans and leases, net of allowance | 16,177 | 21,943 |
| Other assets (includes $12,144 and $15,718 measured at fair value) | 189 | 1,387 |
| Total assets | 21,370 | 28,555 |
| Short-term borrowings (includes $4,279 and $5,874 measured at fair value) | 247 | 454 |
| Long-term debt (includes $29,708 and $32,200 measured at fair value) | 3,587 | 7,053 |
| All other liabilities (includes $7 and $16 of non-recourse liabilities) | 7 | 16 |
| Total liabilities | 3,841 | 7,523 |
| External Links | |
| BANK OF AMERICA CORP /DE/ (BAC) Fiscal Year 2021 | |
| 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 |