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: 2011 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 23, 2012) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Interest income | |||
| Loans and leases | $ 44,966 | 50,996 | 48,703 |
| Debt securities | 9,521 | 11,667 | 12,947 |
| Federal funds sold and securities borrowed or purchased under agreements to resell | 2,147 | 1,832 | 2,894 |
| Trading account assets | 5,961 | 6,841 | 7,944 |
| Other interest income | 3,641 | 4,161 | 5,428 |
| Total interest income | 66,236 | 75,497 | 77,916 |
| Interest expense | |||
| Deposits | 3,002 | 3,997 | 7,807 |
| Short-term borrowings | 4,599 | 3,699 | 5,512 |
| Trading account liabilities | 2,212 | 2,571 | 2,075 |
| Long-term debt | 11,807 | 13,707 | 15,413 |
| Total interest expense | 21,620 | 23,974 | 30,807 |
| Net interest income | 44,616 | 51,523 | 47,109 |
| Noninterest income | |||
| Card income | 7,184 | 8,108 | 8,353 |
| Service charges | 8,094 | 9,390 | 11,038 |
| Investment and brokerage services | 11,826 | 11,622 | 11,919 |
| Investment banking income | 5,217 | 5,520 | 5,551 |
| Equity investment income | 7,360 | 5,260 | 10,014 |
| Trading account profits | 6,697 | 10,054 | 12,235 |
| Mortgage banking income (loss) | (8,830) | 2,734 | 8,791 |
| Insurance income | 1,346 | 2,066 | 2,760 |
| Gains on sales of debt securities | 3,374 | 2,526 | 4,723 |
| Other income (loss) | 6,869 | 2,384 | (14) |
| Total other-than-temporary impairment losses | (360) | (2,174) | (3,508) |
| Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income | 61 | 1,207 | 672 |
| Net impairment losses recognized in earnings on available-for-sale debt securities | (299) | (967) | (2,836) |
| Total noninterest income | 48,838 | 58,697 | 72,534 [1] |
| Total revenue, net of interest expense | 93,454 | 110,220 | 119,643 |
| Provision for credit losses | 13,410 | 28,435 | 48,570 |
| Noninterest expense | |||
| Personnel | 36,965 | 35,149 | 31,528 |
| Occupancy | 4,748 | 4,716 | 4,906 |
| Equipment | 2,340 | 2,452 | 2,455 |
| Marketing | 2,203 | 1,963 | 1,933 |
| Professional fees | 3,381 | 2,695 | 2,281 |
| Amortization of intangibles | 1,509 | 1,731 | 1,978 |
| Data processing | 2,652 | 2,544 | 2,500 |
| Telecommunications | 1,553 | 1,416 | 1,420 |
| Other general operating | 21,101 | 16,222 | 14,991 |
| Goodwill impairment | 3,184 | 12,400 | 0 |
| Merger and restructuring charges | 638 | 1,820 | 2,721 |
| Total noninterest expense | 80,274 | 83,108 | 66,713 |
| Income (loss) before income taxes | (230) | (1,323) | 4,360 |
| Income tax expense (benefit) | (1,676) | 915 | (1,916) |
| Net income (loss) | 1,446 | (2,238) | 6,276 |
| Preferred stock dividends and accretion | 1,361 | 1,357 | 8,480 |
| Net income (loss) applicable to common shareholders | 85 | (3,595) | (2,204) |
| Per common share information | |||
| Earnings (loss) | 0.01 | (0.37) | (0.29) |
| Diluted earnings (loss) | 0.01 | (0.37) | (0.29) |
| Dividends paid | 0.04 | 0.04 | 0.04 |
| Average common shares issued and outstanding (in thousands) | 10,142,625 | 9,790,472 | 7,728,570 |
| Average diluted common shares issued and outstanding (in thousands) | 10,254,824 | 9,790,472 | 7,728,570 |
| [1] There were no material intersegment revenues. | |||
| External Links | |
| BANK OF AMERICA CORP /DE/ (BAC) Fiscal Year 2011 | |
| 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 |