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: 2022 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 22, 2023) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net interest income | |||
| Interest income | $ 72,565 | 47,672 | 51,585 |
| Interest expense | 20,103 | 4,738 | 8,225 |
| Net interest income | 52,462 | 42,934 | 43,360 |
| Noninterest income | |||
| Fees and commissions | 33,212 | 39,299 | 34,551 |
| Market making and similar activities | 12,075 | 8,691 | 8,355 |
| Other income | (2,799) | (1,811) | (738) |
| Total noninterest income | 42,488 | 46,179 | 42,168 |
| Total revenue, net of interest expense | 94,950 | 89,113 | 85,528 |
| Provision for credit losses | 2,543 | (4,594) | 11,320 |
| Noninterest expense | |||
| Compensation and benefits | 36,447 | 36,140 | 32,725 |
| Occupancy and equipment | 7,071 | 7,138 | 7,141 |
| Information processing and communications | 6,279 | 5,769 | 5,222 |
| Product delivery and transaction related | 3,653 | 3,881 | 3,433 |
| Professional fees | 2,142 | 1,775 | 1,694 |
| Marketing | 1,825 | 1,939 | 1,701 |
| Other general operating | 4,021 | 3,089 | 3,297 |
| Total noninterest expense | 61,438 | 59,731 | 55,213 |
| Income before income taxes | 30,969 | 33,976 | 18,995 |
| Income tax expense | 3,441 | 1,998 | 1,101 |
| Net income | 27,528 | 31,978 | 17,894 |
| Preferred stock dividends and other | 1,513 | 1,421 | 1,421 |
| Net income applicable to common shareholders | 26,015 | 30,557 | 16,473 |
| Per common share information | |||
| Earnings (in dollars per share) | 3.21 | 3.60 | 1.88 |
| Diluted earnings (in dollars per share) | 3.19 | 3.57 | 1.87 |
| Average common shares issued and outstanding (in shares) | 8,113,700 | 8,493,300 | 8,753,200 |
| Average diluted common shares issued and outstanding (in shares) | 8,167,500 | 8,558,400 | 8,796,900 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2022 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 22, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net income | $ 27,528 | 31,978 | 17,894 |
| Other comprehensive income (loss), net-of-tax: | |||
| Net change in debt securities | (6,028) | (2,077) | 4,799 |
| Net change in debit valuation adjustments | 755 | 356 | (498) |
| Net change in derivatives | (10,055) | (2,306) | 826 |
| Employee benefit plan adjustments | (667) | 624 | (98) |
| Net change in foreign currency translation adjustments | (57) | (45) | (52) |
| Other comprehensive income (loss) | (16,052) | (3,448) | 4,977 |
| Comprehensive income (loss) | 11,476 | 28,530 | 22,871 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2022 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 22, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Operating activities | |||
| Net income | $ 27,528 | 31,978 | 17,894 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 2,543 | (4,594) | 11,320 |
| Gains on sales of debt securities | (32) | (22) | (411) |
| Depreciation and amortization | 1,978 | 1,898 | 1,843 |
| Net amortization of premium/discount on debt securities | 2,072 | 5,837 | 4,101 |
| Deferred income taxes | 739 | (838) | (1,737) |
| Stock-based compensation | 2,862 | 2,768 | 2,031 |
| Loans held-for-sale: | |||
| Originations and purchases | (24,862) | (43,635) | (19,657) |
| Proceeds from sales and paydowns of loans originally classified as held for sale and instruments from related securitization activities | 31,567 | 34,684 | 19,049 |
| Net change in: | |||
| Trading and derivative assets/liabilities | (95,772) | (22,104) | 16,942 |
| Other assets | 20,799 | (34,455) | (12,883) |
| Accrued expenses and other liabilities | 23,029 | 16,639 | (4,385) |
| Other operating activities, net | 1,222 | 4,651 | 3,886 |
| Net cash provided by (used in) operating activities | (6,327) | (7,193) | 37,993 |
| Investing activities | |||
| Time deposits placed and other short-term investments | (115) | (598) | 561 |
| Federal funds sold and securities borrowed or purchased under agreements to resell | (16,854) | 53,338 | (29,461) |
| Debt securities carried at fair value: | |||
| Proceeds from sales | 69,114 | 6,893 | 77,524 |
| Proceeds from paydowns and maturities | 110,195 | 159,616 | 91,084 |
| Purchases | (134,962) | (238,398) | (194,877) |
| Held-to-maturity debt securities: | |||
| Proceeds from paydowns and maturities | 63,852 | 124,880 | 93,835 |
| Purchases | (24,096) | (362,736) | (257,535) |
| Loans and leases: | |||
| Proceeds from sales of loans originally classified as held for investment and instruments from related securitization activities | 26,757 | 10,396 | 13,351 |
| Purchases | (5,798) | (5,164) | (5,229) |
| Other changes in loans and leases, net | (86,010) | (58,039) | 36,571 |
| Other investing activities, net | (4,612) | (3,479) | (3,489) |
| Net cash used in investing activities | (2,529) | (313,291) | (177,665) |
| Financing activities | |||
| Deposits | (134,190) | 268,966 | 360,677 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase | 3,306 | 22,006 | 5,214 |
| Short-term borrowings | 3,179 | 4,432 | (4,893) |
| Long-term debt: | |||
| Proceeds from issuance | 65,910 | 76,675 | 57,013 |
| Retirement | (34,055) | (46,826) | (47,948) |
| Preferred stock: | |||
| Proceeds from issuance | 4,426 | 2,169 | 2,181 |
| Redemption | (654) | (1,971) | (1,072) |
| Common stock repurchased | (5,073) | (25,126) | (7,025) |
| Cash dividends paid | (8,576) | (8,055) | (7,727) |
| Other financing activities, net | (312) | (620) | (601) |
| Net cash provided by (used in) financing activities | (106,039) | 291,650 | 355,819 |
| Effect of exchange rate changes on cash and cash equivalents | (3,123) | (3,408) | 2,756 |
| Net increase (decrease) in cash and cash equivalents | (118,018) | (32,242) | 218,903 |
| Cash and cash equivalents at January 1 | 348,221 | 380,463 | 161,560 |
| Cash and cash equivalents at December 31 | 230,203 | 348,221 | 380,463 |
| Supplemental cash flow disclosures | |||
| Interest paid | 18,526 | 4,506 | 8,662 |
| Income taxes paid, net | 2,288 | 2,760 | 2,894 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BANK OF AMERICA CORP /DE/ | ||
Ticker: BAC Fiscal Year: 2022 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 22, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Cash and due from banks | $ 30,334 | 29,222 |
| Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks | 199,869 | 318,999 |
| Cash and cash equivalents | 230,203 | 348,221 |
| Time deposits placed and other short-term investments | 7,259 | 7,144 |
| Federal funds sold and securities borrowed or purchased under agreements to resell (includes $146,999 and $150,665 measured at fair value) | 267,574 | 250,720 |
| Trading account assets (includes $115,505 and $103,434 pledged as collateral) | 296,108 | 247,080 |
| Derivative assets | 48,642 | 35,344 |
| Debt securities: | ||
| Carried at fair value | 229,994 | 308,073 |
| Held-to-maturity, at cost (fair value $524,267 and $665,890) | 632,825 | 674,554 |
| Total debt securities | 862,819 | 982,627 |
| Loans and leases (includes $5,771 and $7,819 measured at fair value) | 1,045,747 | 979,124 |
| Allowance for loan and lease losses | (12,682) | (12,387) |
| Loans and leases, net of allowance | 1,033,065 | 966,737 |
| Premises and equipment, net | 11,510 | 10,833 |
| Goodwill | 69,022 | 69,022 |
| Loans held-for-sale (includes $1,115 and $4,455 measured at fair value) | 6,871 | 15,635 |
| Customer and other receivables | 67,543 | 72,263 |
| Other assets (includes $9,594 and $12,144 measured at fair value) | 150,759 | 163,869 |
| Total assets | 3,051,375 | 3,169,495 |
| Liabilities | ||
| Deposits in U.S. offices: | ||
| Noninterest-bearing | 640,745 | 784,189 |
| Interest-bearing (includes $311 and $408 measured at fair value) | 1,182,590 | 1,165,914 |
| Deposits in non-U.S. offices: | ||
| Noninterest-bearing | 20,480 | 27,457 |
| Interest-bearing | 86,526 | 86,886 |
| Total deposits | 1,930,341 | 2,064,446 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $151,708 and $139,641 measured at fair value) | 195,635 | 192,329 |
| Trading account liabilities | 80,399 | 100,690 |
| Derivative liabilities | 44,816 | 37,675 |
| Short-term borrowings (includes $832 and $4,279 measured at fair value) | 26,932 | 23,753 |
| Accrued expenses and other liabilities (includes $9,752 and $11,489 measured at fair value and $1,540 and $1,456 of reserve for unfunded lending commitments) | 224,073 | 200,419 |
| Long-term debt (includes $33,070 and $29,708 measured at fair value) | 275,982 | 280,117 |
| Total liabilities | 2,778,178 | 2,899,429 |
| 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 4,088,101 and 3,939,686 shares | 28,397 | 24,708 |
| Common stock and additional paid-in capital, $0.01 par value; authorized 12,800,000,000 shares; issued and outstanding 7,996,777,943 and 8,077,831,463 shares | 58,953 | 62,398 |
| Retained earnings | 207,003 | 188,064 |
| Accumulated other comprehensive income (loss) | (21,156) | (5,104) |
| Total shareholders equity | 273,197 | 270,066 |
| Total liabilities and shareholders equity | 3,051,375 | 3,169,495 |
| Consolidated Entities | ||
| Consolidated VIEs | ||
| Trading account assets (includes $115,505 and $103,434 pledged as collateral) | 2,816 | 5,004 |
| Loans and leases (includes $5,771 and $7,819 measured at fair value) | 16,738 | 17,135 |
| Allowance for loan and lease losses | (797) | (958) |
| Loans and leases, net of allowance | 15,941 | 16,177 |
| Other assets (includes $9,594 and $12,144 measured at fair value) | 116 | 189 |
| Total assets | 18,873 | 21,370 |
| Short-term borrowings (includes $832 and $4,279 measured at fair value) | 42 | 247 |
| Long-term debt (includes $33,070 and $29,708 measured at fair value) | 4,581 | 3,587 |
| All other liabilities (includes $13 and $7 of non-recourse liabilities) | 13 | 7 |
| Total liabilities | 4,636 | 3,841 |
| External Links | |
| BANK OF AMERICA CORP /DE/ (BAC) Fiscal Year 2022 | |
| 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 |