Exhibit

Supplemental Information

Second Quarter 2018

Current period information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in Bank of America’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which are available at the SEC’s website (www.sec.gov) or at Bank of America’s website (www.bankofamerica.com). Bank of America’s future financial performance is subject to risks and uncertainties as described in its SEC filings.



Bank of America Corporation and Subsidiaries
Table of Contents	Page


Consolidated Financial Highlights	2
Consolidated Statement of Income	3
Consolidated Statement of Comprehensive Income	4
Consolidated Balance Sheet	5
Capital Management	7
Quarterly Average Balances and Interest Rates	8
Year-to-Date Average Balances and Interest Rates	10
Debt Securities	12
Supplemental Financial Data	13
Quarterly Results by Business Segment and All Other	14
Year-to-Date Results by Business Segment and All Other	16
Consumer Banking
Total Segment Results	17
Business Results	18
Key Indicators	21
Global Wealth & Investment Management
Total Segment Results	22
Key Indicators	23
Global Banking
Total Segment Results	24
Key Indicators	25
Investment Banking Product Rankings	26
Global Markets
Total Segment Results	27
Key Indicators	28
All Other
Total Results	29
Outstanding Loans and Leases	30
Quarterly Average Loans and Leases by Business Segment and All Other	31
Commercial Credit Exposure by Industry	32
Top 20 Non-U.S. Countries Exposure	33
Nonperforming Loans, Leases and Foreclosed Properties	34
Nonperforming Loans, Leases and Foreclosed Properties Activity	35
Quarterly Net Charge-offs and Net Charge-off Ratios	36
Year-to-Date Net Charge-offs and Net Charge-off Ratios	37
Allocation of the Allowance for Credit Losses by Product Type	38

Exhibit A: Non-GAAP Reconciliations	39



Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(In millions, except per share information)
	Six Months Ended June 30						Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
	2018			2017			Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
Income statement
Net interest income	$	23,258		$	22,044		$	11,650		$	11,608		$	11,462		$	11,161		$	10,986
Noninterest income	22,476			23,033			10,959			11,517			8,974			10,678			11,843
Total revenue, net of interest expense	45,734			45,077			22,609			23,125			20,436			21,839			22,829
Provision for credit losses	1,661			1,561			827			834			1,001			834			726
Noninterest expense	27,181			28,075			13,284			13,897			13,274			13,394			13,982
Income tax expense	3,190			4,998			1,714			1,476			3,796			2,187			3,015
Net income	13,702			10,443			6,784			6,918			2,365			5,424			5,106
Preferred stock dividends	746			863			318			428			286			465			361
Net income applicable to common shareholders	12,956			9,580			6,466			6,490			2,079			4,959			4,745
Diluted earnings per common share	1.25			0.89			0.63			0.62			0.20			0.46			0.44
Average diluted common shares issued and outstanding	10,389.9			10,876.7			10,309.4			10,472.7			10,621.8			10,746.7			10,834.8
Dividends paid per common share	$	0.24		$	0.15		$	0.12		$	0.12		$	0.12		$	0.12		$	0.075

Performance ratios
Return on average assets	1.19		%	0.94		%	1.17		%	1.21		%	0.41		%	0.95		%	0.90		%
Return on average common shareholders’ equity	10.80			7.91			10.75			10.85			3.29			7.89			7.75
Return on average shareholders’ equity	10.41			7.82			10.26			10.57			3.43			7.88			7.56
Return on average tangible common shareholders’ equity ⁽¹⁾	15.21			11.15			15.15			15.26			4.56			10.98			10.87
Return on average tangible shareholders’ equity ⁽¹⁾	14.16			10.61			13.95			14.37			4.62			10.59			10.23


At period end
Book value per share of common stock	$	24.07		$	24.85		$	24.07		$	23.74		$	23.80		$	23.87		$	24.85
Tangible book value per share of common stock ⁽¹⁾	17.07			17.75			17.07			16.84			16.96			17.18			17.75
Market price per share of common stock:
Closing price	$	28.19		$	24.26		$	28.19		$	29.99		$	29.52		$	25.34		$	24.26
High closing price for the period	32.84			25.50			31.22			32.84			29.88			25.45			24.32
Low closing price for the period	28.19			22.05			28.19			29.17			25.45			22.89			22.23
Market capitalization	282,259			239,643			282,259			305,176			303,681			264,992			239,643

Number of financial centers - U.S.	4,411			4,542			4,411			4,435			4,470			4,511			4,542
Number of branded ATMs - U.S.	16,050			15,972			16,050			16,011			16,039			15,973			15,972
Headcount	207,992			210,904			207,992			207,953			209,376			209,839			210,904

⁽¹⁾

Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. Tangible book value per share provides additional useful information about the level of tangible assets in relation to outstanding shares of common stock. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 39-40.)

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	2



Bank of America Corporation and Subsidiaries
Consolidated Statement of Income
(In millions, except per share information)
	Six Months Ended June 30				Second Quarter 2018		First Quarter 2018		Fourth Quarter 2017			Third Quarter 2017		Second Quarter 2017
	2018		2017		Second Quarter 2018		First Quarter 2018		Fourth Quarter 2017			Third Quarter 2017		Second Quarter 2017
Interest income
Loans and leases	$	19,694	$	17,674	$	10,071	$	9,623	$	9,344		$	9,203	$	8,920
Debt securities	5,660		5,135		2,856		2,804		2,707			2,629		2,594
Federal funds sold and securities borrowed or purchased under agreements to resell	1,331		999		709		622		732			659		560
Trading account assets	2,334		2,239		1,198		1,136		1,144			1,091		1,163
Other interest income	2,949		1,809		1,535		1,414		1,139			1,075		909
Total interest income	31,968		27,856		16,369		15,599		15,066			14,657		14,146

Interest expense
Deposits	1,703		628		943		760		679			624		346
Short-term borrowings	2,597		1,564		1,462		1,135		1,030			944		917
Trading account liabilities	705		571		348		357		314			319		307
Long-term debt	3,705		3,049		1,966		1,739		1,581			1,609		1,590
Total interest expense	8,710		5,812		4,719		3,991		3,604			3,496		3,160
Net interest income	23,258		22,044		11,650		11,608		11,462			11,161		10,986

Noninterest income
Card income	2,999		2,918		1,542		1,457		1,555			1,429		1,469
Service charges	3,875		3,895		1,954		1,921		1,955			1,968		1,977
Investment and brokerage services	7,122		6,877		3,458		3,664		3,522			3,437		3,460
Investment banking income	2,775		3,116		1,422		1,353		1,418			1,477		1,532
Trading account profits	5,014		4,287		2,315		2,699		1,153			1,837		1,956
Other income (loss)	691		1,940		268		423		(629		)	530		1,449
Total noninterest income	22,476		23,033		10,959		11,517		8,974			10,678		11,843
Total revenue, net of interest expense	45,734		45,077		22,609		23,125		20,436			21,839		22,829

Provision for credit losses	1,661		1,561		827		834		1,001			834		726

Noninterest expense
Personnel	16,424		16,515		7,944		8,480		7,605			7,811		8,040
Occupancy	2,036		2,001		1,022		1,014		1,009			999		1,001
Equipment	857		865		415		442		411			416		427
Marketing	740		774		395		345		511			461		442
Professional fees	780		941		399		381		471			476		485
Data processing	1,607		1,567		797		810		795			777		773
Telecommunications	349		368		166		183		161			170		177
Other general operating	4,388		5,044		2,146		2,242		2,311			2,284		2,637
Total noninterest expense	27,181		28,075		13,284		13,897		13,274			13,394		13,982
Income before income taxes	16,892		15,441		8,498		8,394		6,161			7,611		8,121
Income tax expense	3,190		4,998		1,714		1,476		3,796			2,187		3,015
Net income	$	13,702	$	10,443	$	6,784	$	6,918	$	2,365		$	5,424	$	5,106
Preferred stock dividends	746		863		318		428		286			465		361
Net income applicable to common shareholders	$	12,956	$	9,580	$	6,466	$	6,490	$	2,079		$	4,959	$	4,745

Per common share information
Earnings	$	1.26	$	0.95	$	0.64	$	0.63	$	0.20		$	0.49	$	0.47
Diluted earnings	1.25		0.89		0.63		0.62		0.20			0.46		0.44
Dividends paid	0.24		0.15		0.12		0.12		0.12			0.12		0.075
Average common shares issued and outstanding	10,251.7		10,056.1		10,181.7		10,322.4		10,470.7			10,197.9		10,013.5
Average diluted common shares issued and outstanding	10,389.9		10,876.7		10,309.4		10,472.7		10,621.8			10,746.7		10,834.8

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	3



Bank of America Corporation and Subsidiaries
Consolidated Statement of Comprehensive Income
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
	2018			2017			Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
Net income	$	13,702		$	10,443		$	6,784		$	6,918		$	2,365		$	5,424		$	5,106
Other comprehensive income (loss), net-of-tax:
Net change in debt and equity securities	(4,994		)	469			(1,031		)	(3,963		)	(870		)	462			568
Net change in debit valuation adjustments	452			(69		)	179			273			(144		)	(80		)	(78		)
Net change in derivatives	(367		)	132			(92		)	(275		)	(92		)	24			94
Employee benefit plan adjustments	60			54			30			30			208			26			27
Net change in foreign currency translation adjustments	(189		)	97			(141		)	(48		)	(16		)	5			100
Other comprehensive income (loss)	(5,038		)	683			(1,055		)	(3,983		)	(914		)	437			711
Comprehensive income	$	8,664		$	11,126		$	5,729		$	2,935		$	1,451		$	5,861		$	5,817

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	4



Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
	June 30 2018			March 31 2018			June 30 2017
Assets
Cash and due from banks	$	29,365		$	26,247		$	29,974
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	141,834			177,994			128,730
Cash and cash equivalents	171,199			204,241			158,704
Time deposits placed and other short-term investments	8,212			8,069			10,152
Federal funds sold and securities borrowed or purchased under agreements to resell	226,486			244,630			217,201
Trading account assets	203,420			198,477			216,369
Derivative assets	45,210			47,869			39,190
Debt securities:
Carried at fair value	275,256			303,298			315,509
Held-to-maturity, at cost	163,013			123,539			119,008
Total debt securities	438,269			426,837			434,517
Loans and leases	935,824			934,078			916,666
Allowance for loan and lease losses	(10,050		)	(10,260		)	(10,875		)
Loans and leases, net of allowance	925,774			923,818			905,791
Premises and equipment, net	9,537			9,399			8,904
Goodwill	68,951			68,951			68,969
Loans held-for-sale	6,511			9,227			5,882
Customer and other receivables	57,813			58,127			59,342
Other assets	130,288			128,833			129,693
Total assets	$	2,291,670		$	2,328,478		$	2,254,714

Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
Trading account assets	$	5,692		$	6,065		$	4,543
Loans and leases	45,483			46,590			51,604
Allowance for loan and lease losses	(959		)	(984		)	(1,004		)
Loans and leases, net of allowance	44,524			45,606			50,600
Loans held-for-sale	3			13			93
All other assets	396			399			1,136
Total assets of consolidated variable interest entities	$	50,615		$	52,083		$	56,372

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	5



Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet (continued)
(Dollars in millions)
	June 30 2018			March 31 2018			June 30 2017
Liabilities
Deposits in U.S. offices:
Noninterest-bearing	$	420,995		$	434,709		$	427,715
Interest-bearing	811,193			811,212			757,888
Deposits in non-U.S. offices:
Noninterest-bearing	14,247			13,768			13,446
Interest-bearing	63,256			68,975			63,931
Total deposits	1,309,691			1,328,664			1,262,980
Federal funds purchased and securities loaned or sold under agreements to repurchase	177,903			178,528			196,407
Trading account liabilities	87,028			100,218			77,933
Derivative liabilities	33,605			33,900			34,880
Short-term borrowings	40,622			38,073			36,494
Accrued expenses and other liabilities	152,010			150,615			151,437
Long-term debt	226,595			232,256			223,923
Total liabilities	2,027,454			2,062,254			1,984,054
Shareholders’ equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,872,702, 3,931,683 and 3,887,329 shares	23,181			24,672			25,220
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 10,012,719,225, 10,175,910,851 and 9,878,118,264 shares	128,822			133,532			142,744
Retained earnings	125,546			120,298			109,301
Accumulated other comprehensive income (loss)	(13,333		)	(12,278		)	(6,605		)
Total shareholders’ equity	264,216			266,224			270,660
Total liabilities and shareholders’ equity	$	2,291,670		$	2,328,478		$	2,254,714

Liabilities of consolidated variable interest entities included in total liabilities above
Short-term borrowings	$	396		$	286		$	97
Long-term debt	9,865			10,051			9,765
All other liabilities	39			38			52
Total liabilities of consolidated variable interest entities	$	10,300		$	10,375		$	9,914

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	6



Bank of America Corporation and Subsidiaries
Capital Management
(Dollars in millions)
	Basel 3
	June 30 2018			March 31 2018			June 30 2017
Risk-based capital metrics ⁽¹⁾:
Standardized Approach
Common equity tier 1 capital	$	164,872		$	164,828		$	168,704
Tier 1 capital	187,506			188,900			193,576
Total capital	220,232			223,772			228,536
Risk-weighted assets	1,443,896			1,451,791			1,405,109
Common equity tier 1 capital ratio	11.4		%	11.4		%	12.0		%
Tier 1 capital ratio	13.0			13.0			13.8
Total capital ratio	15.3			15.4			16.3

Advanced Approaches
Common equity tier 1 capital	$	164,872		$	164,828		$	168,704
Tier 1 capital	187,506			188,900			193,576
Total capital	211,952			215,261			219,511
Risk-weighted assets	1,437,602			1,457,795			1,464,088
Common equity tier 1 capital ratio	11.5		%	11.3		%	11.5		%
Tier 1 capital ratio	13.0			13.0			13.2
Total capital ratio	14.7			14.8			15.0

Leverage-based metrics ⁽¹⁾
Adjusted average assets	$	2,244,692		$	2,247,247		$	2,191,824
Tier 1 leverage ratio	8.4		%	8.4		%	8.8		%

Supplementary leverage exposure	$	2,803,449		$	2,794,363		n/a
Supplementary leverage ratio	6.7		%	6.8		%	n/a

Tangible equity ratio ⁽²⁾	8.7			8.7			9.2
Tangible common equity ratio⁽²⁾	7.7			7.6			8.0

⁽¹⁾

Regulatory capital ratios at June 30, 2018 are preliminary. We report regulatory capital ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is used to assess capital adequacy. Basel 3 transition provisions for regulatory capital adjustments and deductions were fully phased-in as of January 1, 2018. Prior periods are presented on a fully phased-in basis. SLR requirements became effective January 1, 2018.

⁽²⁾

Tangible equity ratio equals period-end tangible shareholders’ equity divided by period-end tangible assets. Tangible common equity ratio equals period-end tangible common shareholders’ equity divided by period-end tangible assets. Tangible shareholders’ equity and tangible assets are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on pages 39-40.)

n/a = not applicable

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	7



Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	Second Quarter 2018						First Quarter 2018						Second Quarter 2017
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	$	144,983	$	487	1.35	%	$	140,247	$	422	1.22	%	$	129,201	$	261	0.81	%
Time deposits placed and other short-term investments	10,015		48		1.91		10,786		61		2.31		11,448		58		2.03
Federal funds sold and securities borrowed or purchased under agreements to resell	251,880		709		1.13		248,320		622		1.02		226,700		435		0.77
Trading account assets	132,799		1,232		3.72		131,123		1,147		3.54		135,931		1,199		3.54
Debt securities	429,191		2,885		2.64		433,096		2,830		2.58		431,132		2,632		2.44
Loans and leases ⁽¹⁾:
Residential mortgage	206,083		1,798		3.49		204,830		1,782		3.48		195,935		1,697		3.46
Home equity	54,863		640		4.68		56,952		643		4.56		63,332		664		4.20
U.S. credit card	93,531		2,298		9.86		94,423		2,313		9.93		89,464		2,128		9.54
Non-U.S. credit card ⁽²⁾	—		—		—		—		—		—		6,494		147		9.08
Direct/Indirect and other consumer	93,620		766		3.28		95,292		728		3.10		95,775		669		2.80
Total consumer	448,097		5,502		4.92		451,497		5,466		4.89		451,000		5,305		4.71
U.S. commercial	305,372		2,983		3.92		299,850		2,717		3.68		291,162		2,403		3.31
Non-U.S. commercial	99,255		816		3.30		99,504		738		3.01		92,708		615		2.66
Commercial real estate	60,653		646		4.27		59,231		587		4.02		58,198		514		3.54
Commercial lease financing	21,441		168		3.14		21,833		175		3.20		21,649		156		2.89
Total commercial	486,721		4,613		3.80		480,418		4,217		3.56		463,717		3,688		3.19
Total loans and leases ⁽²⁾	934,818		10,115		4.34		931,915		9,683		4.20		914,717		8,993		3.94
Other earning assets	78,244		1,047		5.36		84,345		984		4.72		73,618		713		3.88
Total earning assets⁽³⁾	1,981,930		16,523		3.34		1,979,832		15,749		3.21		1,922,747		14,291		2.98
Cash and due from banks	25,329						26,275						27,659
Other assets, less allowance for loan and lease losses	315,419						319,771						318,887
Total assets	$	2,322,678					$	2,325,878					$	2,269,293


⁽¹⁾	Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis. Purchased credit-impaired loans are recorded at fair value upon acquisition and accrete interest income over the estimated life of the loan.


⁽²⁾	The second quarter of 2017 includes assets of the Corporation’s non-U.S. consumer credit card business, which was sold during the second quarter of 2017.


⁽³⁾	The impact of interest rate risk management derivatives on interest income is presented below. Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on:



	Second Quarter 2018				First Quarter 2018				Second Quarter 2017
Federal funds sold and securities borrowed or purchased under agreements to resell		$	(39	)		$	5			$	10
Debt securities		—				(3		)		(25		)
U.S. commercial loans and leases		(10		)		(9		)		(9		)
Net hedge expense on assets		$	(49	)		$	(7	)		$	(24	)

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	8



Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	Second Quarter 2018						First Quarter 2018						Second Quarter 2017
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	55,734	$	2	0.01	%	$	54,747	$	1	0.01	%	$	54,494	$	2	0.01	%
NOW and money market deposit accounts	664,002		536		0.32		659,033		406		0.25		619,593		105		0.07
Consumer CDs and IRAs	39,953		36		0.36		41,313		33		0.33		45,682		30		0.27
Negotiable CDs, public funds and other deposits	44,539		197		1.78		40,639		157		1.56		36,041		68		0.75
Total U.S. interest-bearing deposits	804,228		771		0.38		795,732		597		0.30		755,810		205		0.11
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	2,329		11		1.89		2,243		9		1.67		3,058		6		0.77
Governments and official institutions	1,113		—		0.01		1,154		—		0.02		981		2		0.90
Time, savings and other	65,326		161		0.99		67,334		154		0.92		60,047		133		0.89
Total non-U.S. interest-bearing deposits	68,768		172		1.00		70,731		163		0.93		64,086		141		0.89
Total interest-bearing deposits	872,996		943		0.43		866,463		760		0.36		819,896		346		0.17
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities	272,777		1,462		2.15		279,801		1,135		1.66		288,726		825		1.14
Trading account liabilities	52,228		348		2.67		55,362		357		2.62		45,156		307		2.73
Long-term debt	229,037		1,966		3.44		229,603		1,739		3.06		224,019		1,590		2.84
Total interest-bearing liabilities ⁽¹⁾	1,427,038		4,719		1.33		1,431,229		3,991		1.13		1,377,797		3,068		0.89
Noninterest-bearing sources:
Noninterest-bearing deposits	427,663						430,805						436,942
Other liabilities	202,796						198,364						183,577
Shareholders’ equity	265,181						265,480						270,977
Total liabilities and shareholders’ equity	$	2,322,678					$	2,325,878					$	2,269,293
Net interest spread					2.01	%					2.08	%					2.09	%
Impact of noninterest-bearing sources					0.37						0.31						0.25
Net interest income/yield on earning assets			$	11,804	2.38	%			$	11,758	2.39	%			$	11,223	2.34	%


⁽¹⁾	The impact of interest rate risk management derivatives on interest expense is presented below. Interest expense includes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:



	Second Quarter 2018				First Quarter 2018				Second Quarter 2017
NOW and money market deposit accounts		$	(1	)		$	—			$	(1	)
Consumer CDs and IRAs		6				5				5
Negotiable CDs, public funds and other deposits		4				3				4
Banks located in non-U.S. countries		4				5				4
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities		30				29				88
Long-term debt		(10		)		(246		)		(426		)
Net hedge (income) expense on liabilities		$	33			$	(204	)		$	(326	)

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	9



Bank of America Corporation and Subsidiaries
Year-to-Date Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	Six Months Ended June 30
	2018						2017
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	$	142,628	$	909	1.29	%	$	126,576	$	463	0.74	%
Time deposits placed and other short-term investments	10,398		109		2.12		11,472		105		1.84
Federal funds sold and securities borrowed or purchased under agreements to resell	250,110		1,331		1.07		221,579		791		0.72
Trading account assets	131,966		2,379		3.63		130,824		2,310		3.56
Debt securities	431,133		5,715		2.61		430,685		5,205		2.41
Loans and leases ⁽¹⁾:
Residential mortgage	205,460		3,580		3.49		194,787		3,358		3.45
Home equity	55,902		1,283		4.62		64,414		1,303		4.07
U.S. credit card	93,975		4,611		9.89		89,545		4,239		9.55
Non-U.S. credit card ⁽²⁾	—		—		—		7,923		358		9.12
Direct/Indirect and other consumer	94,451		1,494		3.19		95,807		1,304		2.74
Total consumer	449,788		10,968		4.90		452,476		10,562		4.69
U.S. commercial	302,626		5,700		3.80		289,325		4,625		3.22
Non-U.S. commercial	99,379		1,554		3.15		92,764		1,210		2.63
Commercial real estate	59,946		1,233		4.15		57,982		993		3.45
Commercial lease financing	21,636		343		3.17		21,885		387		3.54
Total commercial	483,587		8,830		3.68		461,956		7,215		3.15
Total loans and leases ⁽²⁾	933,375		19,798		4.27		914,432		17,777		3.91
Other earning assets	81,277		2,031		5.03		73,568		1,473		4.03
Total earning assets ⁽³⁾	1,980,887		32,272		3.28		1,909,136		28,124		2.97
Cash and due from banks	25,800						27,429
Other assets, less allowance for loan and lease losses	317,582						314,010
Total assets	$	2,324,269					$	2,250,575


⁽¹⁾	Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis. Purchased credit-impaired loans are recorded at fair value upon acquisition and accrete interest income over the estimated life of the loan.


⁽²⁾	The six months ended June 30, 2017 includes assets of the Corporation’s non-U.S. consumer credit card business, which was sold during the second quarter of 2017.


⁽³⁾	The impact of interest rate risk management derivatives on interest income is presented below. Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on:



	Six Months Ended June 30, 2018				Six Months Ended June 30, 2017
Federal funds sold and securities borrowed or purchased under agreements to resell		$	(34	)		$	25
Debt securities		(3		)		(47		)
U.S. commercial loans and leases		(19		)		(19		)
Net hedge expense on assets		$	(56	)		$	(41	)

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	10



Bank of America Corporation and Subsidiaries
Year-to-Date Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	Six Months Ended June 30
	2018						2017
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	55,243	$	3	0.01	%	$	53,350	$	3	0.01	%
NOW and money market deposit accounts	661,531		942		0.29		618,676		179		0.06
Consumer CDs and IRAs	40,629		69		0.34		46,194		61		0.27
Negotiable CDs, public funds and other deposits	42,600		354		1.68		34,874		120		0.69
Total U.S. interest-bearing deposits	800,003		1,368		0.34		753,094		363		0.10
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	2,287		20		1.79		2,838		11		0.76
Governments and official institutions	1,133		—		0.01		997		4		0.85
Time, savings and other	66,325		315		0.95		59,237		250		0.85
Total non-U.S. interest-bearing deposits	69,745		335		0.97		63,072		265		0.85
Total interest-bearing deposits	869,748		1,703		0.39		816,166		628		0.16
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities	276,269		2,597		1.90		278,458		1,398		1.01
Trading account liabilities	53,787		705		2.64		41,962		571		2.74
Long-term debt	229,318		3,705		3.25		222,751		3,049		2.75
Total interest-bearing liabilities ⁽¹⁾	1,429,122		8,710		1.23		1,359,337		5,646		0.84
Noninterest-bearing sources:
Noninterest-bearing deposits	429,225						440,569
Other liabilities	200,592						181,322
Shareholders’ equity	265,330						269,347
Total liabilities and shareholders’ equity	$	2,324,269					$	2,250,575
Net interest spread					2.05	%					2.13	%
Impact of noninterest-bearing sources					0.33						0.24
Net interest income/yield on earning assets			$	23,562	2.38	%			$	22,478	2.37	%


⁽¹⁾	The impact of interest rate risk management derivatives on interest expense is presented below. Interest expense includes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:



	Six Months Ended June 30, 2018				Six Months Ended June 30, 2017
NOW and money market deposit accounts		$	(1	)		$	(1	)
Consumer CDs and IRAs		11				11
Negotiable CDs, public funds and other deposits		7				7
Banks located in non-U.S. countries		9				9
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities		59				180
Long-term debt		(256		)		(956		)
Net hedge income on liabilities		$	(171	)		$	(750	)

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	11



Bank of America Corporation and Subsidiaries
Debt Securities
(Dollars in millions)
	June 30, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	162,301	$	125	$	(5,426	)	$	157,000
Agency-collateralized mortgage obligations	6,194		13		(172		)	6,035
Commercial	14,156		2		(558		)	13,600
Non-agency residential	2,283		262		(11		)	2,534
Total mortgage-backed securities	184,934		402		(6,167		)	179,169
U.S. Treasury and agency securities	54,758		12		(2,036		)	52,734
Non-U.S. securities	6,659		7		(1		)	6,665
Other taxable securities, substantially all asset-backed securities	4,412		81		(7		)	4,486
Total taxable securities	250,763		502		(8,211		)	243,054
Tax-exempt securities	19,085		82		(102		)	19,065
Total available-for-sale debt securities	269,848		584		(8,313		)	262,119
Other debt securities carried at fair value	12,853		306		(22		)	13,137
Total debt securities carried at fair value	282,701		890		(8,335		)	275,256
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities ⁽¹⁾	163,013		131		(4,913		)	158,231
Total debt securities	$	445,714	$	1,021	$	(13,248	)	$	433,487

	March 31, 2018
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	189,426	$	168	$	(5,483	)	$	184,111
Agency-collateralized mortgage obligations	6,525		15		(142		)	6,398
Commercial	13,998		1		(440		)	13,559
Non-agency residential	2,354		260		(10		)	2,604
Total mortgage-backed securities	212,303		444		(6,075		)	206,672
U.S. Treasury and agency securities	54,753		13		(1,794		)	52,972
Non-U.S. securities	6,918		7		—			6,925
Other taxable securities, substantially all asset-backed securities	4,619		100		(5		)	4,714
Total taxable securities	278,593		564		(7,874		)	271,283
Tax-exempt securities	19,133		58		(114		)	19,077
Total available-for-sale debt securities	297,726		622		(7,988		)	290,360
Other debt securities carried at fair value	12,682		291		(35		)	12,938
Total debt securities carried at fair value	310,408		913		(8,023		)	303,298
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	123,539		12		(4,419		)	119,132
Total debt securities	$	433,947	$	925	$	(12,442	)	$	422,430


⁽¹⁾	During the second quarter of 2018, we reclassified available-for-sale securities with an amortized cost of $25 billion to held to maturity.



Other Debt Securities Carried at Fair Value
(Dollars in millions)	June 30 2018		March 31 2018
Non-agency residential mortgage-backed securities	$	2,535	$	2,736
Non-U.S. securities ⁽¹⁾	10,400		9,976
Other taxable securities, substantially all asset-backed securities	202		226
Total	$	13,137	$	12,938


⁽¹⁾	These securities are primarily used to satisfy certain international regulatory liquidity requirements.

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	12



Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions)



	Six Months Ended June 30						Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
	2018			2017
Fully taxable-equivalent (FTE) basis data ⁽¹⁾
Net interest income	$	23,562		$	22,478		$	11,804		$	11,758		$	11,713		$	11,401		$	11,223
Total revenue, net of interest expense	46,038			45,511			22,763			23,275			20,687			22,079			23,066
Net interest yield	2.38		%	2.37		%	2.38		%	2.39		%	2.39		%	2.36		%	2.34		%
Efficiency ratio	59.04			61.69			58.36			59.71			64.16			60.67			60.62

⁽¹⁾

FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. The Corporation believes that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 39-40.)

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	13



Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other
(Dollars in millions)
	Second Quarter 2018
	Total Corporation		Consumer Banking		GWIM		Global Banking			Global Markets			All Other
Net interest income (FTE basis)	$	11,804	$	6,620	$	1,543	$	2,711		$	801		$	129
Card income	1,542		1,342		38		138			25			(1		)
Service charges	1,954		1,072		17		769			90			6
Investment and brokerage services	3,458		80		2,937		19			430			(8		)
Investment banking income (loss)	1,422		—		73		743			652			(46		)
Trading account profits	2,315		2		27		63			2,184			39
Other income (loss)	268		95		74		479			39			(419		)
Total noninterest income (loss)	10,959		2,591		3,166		2,211			3,420			(429		)
Total revenue, net of interest expense (FTE basis)	22,763		9,211		4,709		4,922			4,221			(300		)
Provision for credit losses	827		944		12		(23		)	(1		)	(105		)
Noninterest expense	13,284		4,397		3,399		2,154			2,715			619
Income (loss) before income taxes (FTE basis)	8,652		3,870		1,298		2,791			1,507			(814		)
Income tax expense (benefit) (FTE basis)	1,868		987		330		727			391			(567		)
Net income (loss)	$	6,784	$	2,883	$	968	$	2,064		$	1,116		$	(247	)

Average
Total loans and leases	$	934,818	$	280,689	$	160,833	$	355,088		$	75,053		$	63,155
Total assets ⁽¹⁾	2,322,678		759,982		272,317		423,256			678,500			188,623
Total deposits	1,300,659		687,812		236,214		323,215			30,736			22,682
Period end
Total loans and leases	$	935,824	$	283,565	$	162,034	$	355,473		$	73,496		$	61,256
Total assets ⁽¹⁾	2,291,670		768,187		270,913		424,971			637,110			190,489
Total deposits	1,309,691		695,530		233,925		326,029			31,450			22,757

	First Quarter 2018
	Total Corporation		Consumer Banking		GWIM		Global Banking			Global Markets			All Other
Net interest income (FTE basis)	$	11,758	$	6,510	$	1,594	$	2,640		$	870		$	144
Card income	1,457		1,279		21		135			22			—
Service charges	1,921		1,044		19		763			90			5
Investment and brokerage services	3,664		82		3,040		25			488			29
Investment banking income (loss)	1,353		—		84		744			609			(84		)
Trading account profits (loss)	2,699		2		29		61			2,703			(96		)
Other income (loss)	423		115		69		566			4			(331		)
Total noninterest income (loss)	11,517		2,522		3,262		2,294			3,916			(477		)
Total revenue, net of interest expense (FTE basis)	23,275		9,032		4,856		4,934			4,786			(333		)
Provision for credit losses	834		935		38		16			(3		)	(152		)
Noninterest expense	13,897		4,480		3,428		2,195			2,818			976
Income (loss) before income taxes (FTE basis)	8,544		3,617		1,390		2,723			1,971			(1,157		)
Income tax expense (benefit) (FTE basis)	1,626		922		355		707			513			(871		)
Net income (loss)	$	6,918	$	2,695	$	1,035	$	2,016		$	1,458		$	(286	)

Average
Total loans and leases	$	931,915	$	279,557	$	159,095	$	351,689		$	73,763		$	67,811
Total assets ⁽¹⁾	2,325,878		746,647		279,716		420,594			678,367			200,554
Total deposits	1,297,268		674,351		243,077		324,405			32,320			23,115
Period end
Total loans and leases	$	934,078	$	279,055	$	159,636	$	355,165		$	75,638		$	64,584
Total assets ⁽¹⁾	2,328,478		774,256		279,331		424,134			648,605			202,152
Total deposits	1,328,664		701,488		241,531		331,238			32,301			22,106


⁽¹⁾	Total assets include asset allocations to match liabilities (i.e., deposits).

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	14



Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other (continued)
(Dollars in millions)
	Second Quarter 2017
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income (FTE basis)	$	11,223	$	5,961	$	1,597	$	2,541	$	864	$	260
Card income	1,469		1,248		34		134		24		29
Service charges	1,977		1,061		19		809		83		5
Investment and brokerage services	3,460		77		2,829		38		521		(5		)
Investment banking income (loss)	1,532		—		96		929		590		(83		)
Trading account profits	1,956		1		33		54		1,743		125
Other income	1,449		161		87		534		122		545
Total noninterest income	11,843		2,548		3,098		2,498		3,083		616
Total revenue, net of interest expense (FTE basis)	23,066		8,509		4,695		5,039		3,947		876
Provision for credit losses	726		834		11		15		25		(159		)
Noninterest expense	13,982		4,411		3,392		2,154		2,650		1,375
Income (loss) before income taxes (FTE basis)	8,358		3,264		1,292		2,870		1,272		(340		)
Income tax expense (FTE basis)	3,252		1,233		488		1,084		442		5
Net income (loss)	$	5,106	$	2,031	$	804	$	1,786	$	830	$	(345	)

Average
Total loans and leases	$	914,717	$	261,537	$	150,812	$	345,063	$	69,638	$	87,667
Total assets ⁽¹⁾	2,269,293		724,753		281,167		413,950		645,227		204,196
Total deposits	1,256,838		652,787		245,329		300,483		31,919		26,320
Period end
Total loans and leases	$	916,666	$	265,938	$	153,468	$	344,457	$	73,973	$	78,830
Total assets ⁽¹⁾	2,254,714		735,176		274,746		410,580		633,188		201,024
Total deposits	1,262,980		662,678		237,131		303,205		33,363		26,603


⁽¹⁾	Total assets include asset allocations to match liabilities (i.e., deposits).

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	15



Bank of America Corporation and Subsidiaries
Year-to-Date Results by Business Segment and All Other
(Dollars in millions)
	Six Months Ended June 30, 2018
	Total Corporation		Consumer Banking		GWIM		Global Banking			Global Markets			All Other
Net interest income (FTE basis)	$	23,562	$	13,130	$	3,137	$	5,351		$	1,671		$	273
Card income	2,999		2,621		59		273			47			(1		)
Service charges	3,875		2,116		36		1,532			180			11
Investment and brokerage services	7,122		162		5,977		44			918			21
Investment banking income (loss)	2,775		—		157		1,487			1,261			(130		)
Trading account profits (loss)	5,014		4		56		124			4,887			(57		)
Other income (loss)	691		210		143		1,045			43			(750		)
Total noninterest income (loss)	22,476		5,113		6,428		4,505			7,336			(906		)
Total revenue, net of interest expense (FTE basis)	46,038		18,243		9,565		9,856			9,007			(633		)
Provision for credit losses	1,661		1,879		50		(7		)	(4		)	(257		)
Noninterest expense	27,181		8,877		6,827		4,349			5,533			1,595
Income (loss) before income taxes (FTE basis)	17,196		7,487		2,688		5,514			3,478			(1,971		)
Income tax expense (benefit) (FTE basis)	3,494		1,909		685		1,434			904			(1,438		)
Net income (loss)	$	13,702	$	5,578	$	2,003	$	4,080		$	2,574		$	(533	)

Average
Total loans and leases	$	933,375	$	280,126	$	159,969	$	353,398		$	74,412		$	65,470
Total assets ⁽¹⁾	2,324,269		753,352		275,996		421,933			678,434			194,554
Total deposits	1,298,973		681,119		239,627		323,807			31,524			22,896
Period end
Total loans and leases	$	935,824	$	283,565	$	162,034	$	355,473		$	73,496		$	61,256
Total assets ⁽¹⁾	2,291,670		768,187		270,913		424,971			637,110			190,489
Total deposits	1,309,691		695,530		233,925		326,029			31,450			22,757

	Six Months Ended June 30, 2017
	Total Corporation		Consumer Banking		GWIM		Global Banking			Global Markets			All Other
Net interest income (FTE basis)	$	22,478	$	11,741	$	3,157	$	5,143		$	1,913		$	524
Card income	2,918		2,473		70		259			46			70
Service charges	3,895		2,112		38		1,575			160			10
Investment and brokerage services	6,877		159		5,620		54			1,052			(8		)
Investment banking income (loss)	3,116		—		147		1,855			1,255			(141		)
Trading account profits	4,287		1		91		87			3,920			188
Other income	1,940		306		164		1,021			308			141
Total noninterest income	23,033		5,051		6,130		4,851			6,741			260
Total revenue, net of interest expense (FTE basis)	45,511		16,792		9,287		9,994			8,654			784
Provision for credit losses	1,561		1,672		34		32			8			(185		)
Noninterest expense	28,075		8,820		6,721		4,317			5,406			2,811
Income (loss) before income taxes (FTE basis)	15,875		6,300		2,532		5,645			3,240			(1,842		)
Income tax expense (benefit) (FTE basis)	5,432		2,377		955		2,130			1,113			(1,143		)
Net income (loss)	$	10,443	$	3,923	$	1,577	$	3,515		$	2,127		$	(699	)

Average
Total loans and leases	$	914,432	$	259,751	$	149,615	$	343,966		$	69,850		$	91,250
Total assets ⁽¹⁾	2,250,575		716,247		287,266		414,924			626,224			205,914
Total deposits	1,256,735		644,238		251,324		302,827			32,535			25,811
Period end
Total loans and leases	$	916,666	$	265,938	$	153,468	$	344,457		$	73,973		$	78,830
Total assets ⁽¹⁾	2,254,714		735,176		274,746		410,580			633,188			201,024
Total deposits	1,262,980		662,678		237,131		303,205			33,363			26,603


⁽¹⁾	Total assets include asset allocations to match liabilities (i.e., deposits).

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	16



Bank of America Corporation and Subsidiaries
Consumer Banking Segment Results
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
	2018			2017			Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
Net interest income (FTE basis)	$	13,130		$	11,741		$	6,620		$	6,510		$	6,354		$	6,212		$	5,961
Noninterest income:
Card income	2,621			2,473			1,342			1,279			1,354			1,243			1,248
Service charges	2,116			2,112			1,072			1,044			1,071			1,082			1,061
All other income	376			466			177			199			176			237			239
Total noninterest income	5,113			5,051			2,591			2,522			2,601			2,562			2,548
Total revenue, net of interest expense (FTE basis)	18,243			16,792			9,211			9,032			8,955			8,774			8,509

Provision for credit losses	1,879			1,672			944			935			886			967			834

Noninterest expense	8,877			8,820			4,397			4,480			4,507			4,460			4,411
Income before income taxes (FTE basis)	7,487			6,300			3,870			3,617			3,562			3,347			3,264
Income tax expense (FTE basis)	1,909			2,377			987			922			1,365			1,260			1,233
Net income	$	5,578		$	3,923		$	2,883		$	2,695		$	2,197		$	2,087		$	2,031

Net interest yield (FTE basis)	3.71		%	3.49		%	3.68		%	3.73		%	3.61		%	3.56		%	3.48		%
Return on average allocated capital ⁽¹⁾	30			21			31			30			24			22			22
Efficiency ratio (FTE basis)	48.66			52.53			47.75			49.60			50.33			50.83			51.84

Balance Sheet
Average
Total loans and leases	$	280,126		$	259,751		$	280,689		$	279,557		$	275,716		$	268,810		$	261,537
Total earning assets⁽²⁾	714,352			677,512			720,878			707,754			699,004			692,122			686,064
Total assets ⁽²⁾	753,352			716,247			759,982			746,647			737,755			731,077			724,753
Total deposits	681,119			644,238			687,812			674,351			665,536			658,974			652,787
Allocated capital ⁽¹⁾	37,000			37,000			37,000			37,000			37,000			37,000			37,000

Period end
Total loans and leases	$	283,565		$	265,938		$	283,565		$	279,055		$	280,473		$	272,360		$	265,938
Total earning assets⁽²⁾	729,036			696,350			729,036			735,247			709,832			703,277			696,350
Total assets ⁽²⁾	768,187			735,176			768,187			774,256			749,325			742,513			735,176
Total deposits	695,530			662,678			695,530			701,488			676,530			669,647			662,678


⁽¹⁾	Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	17



Bank of America Corporation and Subsidiaries
Consumer Banking Year-to-Date Results
(Dollars in millions)
	Six Months Ended June 30, 2018
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	13,130		$	7,660		$	5,470
Noninterest income:
Card income	2,621			5			2,616
Service charges	2,116			2,115			1
All other income	376			210			166
Total noninterest income	5,113			2,330			2,783
Total revenue, net of interest expense (FTE basis)	18,243			9,990			8,253

Provision for credit losses	1,879			87			1,792

Noninterest expense	8,877			5,290			3,587
Income before income taxes (FTE basis)	7,487			4,613			2,874
Income tax expense (FTE basis)	1,909			1,176			733
Net income	$	5,578		$	3,437		$	2,141

Net interest yield (FTE basis)	3.71		%	2.27		%	4.00		%
Return on average allocated capital ⁽¹⁾	30			58			17
Efficiency ratio (FTE basis)	48.66			52.95			43.47

Balance Sheet
Average
Total loans and leases	$	280,126		$	5,180		$	274,946
Total earning assets ⁽²⁾	714,352			680,020			275,597
Total assets ⁽²⁾	753,352			707,992			286,625
Total deposits	681,119			675,630			5,489
Allocated capital ⁽¹⁾	37,000			12,000			25,000

Period end
Total loans and leases	$	283,565		$	5,212		$	278,353
Total earning assets ⁽²⁾	729,036			693,709			279,399
Total assets ⁽²⁾	768,187			721,646			290,613
Total deposits	695,530			689,258			6,272

	Six Months Ended June 30, 2017
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	11,741		$	6,365		$	5,376
Noninterest income:
Card income	2,473			4			2,469
Service charges	2,112			2,111			1
All other income	466			195			271
Total noninterest income	5,051			2,310			2,741
Total revenue, net of interest expense (FTE basis)	16,792			8,675			8,117

Provision for credit losses	1,672			100			1,572

Noninterest expense	8,820			5,086			3,734
Income before income taxes (FTE basis)	6,300			3,489			2,811
Income tax expense (FTE basis)	2,377			1,316			1,061
Net income	$	3,923		$	2,173		$	1,750

Net interest yield (FTE basis)	3.49		%	2.00		%	4.24		%
Return on average allocated capital ⁽¹⁾	21			37			14
Efficiency ratio (FTE basis)	52.53			58.63			46.00

Balance Sheet
Average
Total loans and leases	$	259,751		$	4,998		$	254,753
Total earning assets ⁽²⁾	677,512			643,237			255,607
Total assets ⁽²⁾	716,247			670,340			267,239
Total deposits	644,238			637,953			6,285
Allocated capital ⁽¹⁾	37,000			12,000			25,000

Period end
Total loans and leases	$	265,938		$	5,039		$	260,899
Total earning assets ⁽²⁾	696,350			661,577			261,696
Total assets ⁽²⁾	735,176			688,801			273,298
Total deposits	662,678			656,374			6,304

For footnotes see page 20.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	18



Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results
(Dollars in millions)
	Second Quarter 2018
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	6,620		$	3,919		$	2,701
Noninterest income:
Card income	1,342			3			1,339
Service charges	1,072			1,071			1
All other income	177			102			75
Total noninterest income	2,591			1,176			1,415
Total revenue, net of interest expense (FTE basis)	9,211			5,095			4,116

Provision for credit losses	944			46			898

Noninterest expense	4,397			2,639			1,758
Income before income taxes (FTE basis)	3,870			2,410			1,460
Income tax expense (FTE basis)	987			615			372
Net income	$	2,883		$	1,795		$	1,088

Net interest yield (FTE basis)	3.68		%	2.29		%	3.92		%
Return on average allocated capital ⁽¹⁾	31			60			17
Efficiency ratio (FTE basis)	47.75			51.80			42.73

Balance Sheet
Average
Total loans and leases	$	280,689		$	5,191		$	275,498
Total earning assets ⁽²⁾	720,878			686,331			276,436
Total assets ⁽²⁾	759,982			714,494			287,377
Total deposits	687,812			682,202			5,610
Allocated capital ⁽¹⁾	37,000			12,000			25,000

Period end
Total loans and leases	$	283,565		$	5,212		$	278,353
Total earning assets ⁽²⁾	729,036			693,709			279,399
Total assets ⁽²⁾	768,187			721,646			290,613
Total deposits	695,530			689,258			6,272

	First Quarter 2018
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	6,510		$	3,741		$	2,769
Noninterest income:
Card income	1,279			2			1,277
Service charges	1,044			1,044			—
All other income	199			108			91
Total noninterest income	2,522			1,154			1,368
Total revenue, net of interest expense (FTE basis)	9,032			4,895			4,137

Provision for credit losses	935			41			894

Noninterest expense	4,480			2,651			1,829
Income before income taxes (FTE basis)	3,617			2,203			1,414
Income tax expense (FTE basis)	922			561			361
Net income	$	2,695		$	1,642		$	1,053

Net interest yield (FTE basis)	3.73		%	2.25		%	4.09		%
Return on average allocated capital ⁽¹⁾	30			55			17
Efficiency ratio (FTE basis)	49.60			54.15			44.21

Balance Sheet
Average
Total loans and leases	$	279,557		$	5,170		$	274,387
Total earning assets ⁽²⁾	707,754			673,641			274,748
Total assets ⁽²⁾	746,647			701,418			285,864
Total deposits	674,351			668,983			5,368
Allocated capital ⁽¹⁾	37,000			12,000			25,000

Period end
Total loans and leases	$	279,055		$	5,111		$	273,944
Total earning assets ⁽²⁾	735,247			700,420			274,977
Total assets ⁽²⁾	774,256			728,063			286,343
Total deposits	701,488			695,514			5,974

For footnotes see page 20.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	19



Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results (continued)
(Dollars in millions)
	Second Quarter 2017
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,961		$	3,302		$	2,659
Noninterest income:
Card income	1,248			1			1,247
Service charges	1,061			1,061			—
All other income	239			96			143
Total noninterest income	2,548			1,158			1,390
Total revenue, net of interest expense (FTE basis)	8,509			4,460			4,049

Provision for credit losses	834			45			789

Noninterest expense	4,411			2,561			1,850
Income before income taxes (FTE basis)	3,264			1,854			1,410
Income tax expense (FTE basis)	1,233			700			533
Net income	$	2,031		$	1,154		$	877

Net interest yield (FTE basis)	3.48		%	2.03		%	4.15		%
Return on average allocated capital ⁽¹⁾	22			39			14
Efficiency ratio (FTE basis)	51.84			57.39			45.72

Balance Sheet
Average
Total loans and leases	$	261,537		$	5,016		$	256,521
Total earning assets ⁽²⁾	686,064			651,678			257,130
Total assets ⁽²⁾	724,753			678,817			268,680
Total deposits	652,787			646,474			6,313
Allocated capital ⁽¹⁾	37,000			12,000			25,000

Period end
Total loans and leases	$	265,938		$	5,039		$	260,899
Total earning assets ⁽²⁾	696,350			661,577			261,696
Total assets ⁽²⁾	735,176			688,801			273,298
Total deposits	662,678			656,374			6,304


⁽¹⁾	Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.


⁽²⁾	For presentation purposes, in segments or businesses where the total of liabilities and equity exceeds assets, the Corporation allocates assets from All Other to match the segments’ and businesses’ liabilities and allocated shareholders’ equity. As a result, total earning assets and total assets of the businesses may not equal total Consumer Banking.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	20



Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
	2018			2017			Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
Average deposit balances
Checking	$	346,474		$	320,664		$	351,686		$	341,204		$	334,345		$	329,048		$	325,503
Savings	53,563			51,683			54,052			53,068			52,466			52,687			52,809
MMS	241,286			227,479			242,841			239,714			236,909			234,288			230,363
CDs and IRAs	36,767			41,558			36,173			37,366			38,732			40,067			41,196
Non-U.S. and other	3,029			2,854			3,060			2,999			3,084			2,884			2,916
Total average deposit balances	$	681,119		$	644,238		$	687,812		$	674,351		$	665,536		$	658,974		$	652,787

Deposit spreads (excludes noninterest costs)
Checking	2.11		%	1.98		%	2.13		%	2.08		%	2.03		%	2.01		%	2.03		%
Savings	2.39			2.26			2.40			2.37			2.34			2.35			2.30
MMS	1.92			1.48			2.00			1.85			1.70			1.66			1.71
CDs and IRAs	1.88			1.35			2.02			1.73			1.55			1.48			1.41
Non-U.S. and other	1.95			1.24			2.16			1.73			1.56			1.45			1.31
Total deposit spreads	2.05			1.78			2.10			2.00			1.91			1.88			1.89

Client brokerage assets	$	191,472		$	159,131		$	191,472		$	182,110		$	177,045		$	167,274		$	159,131

Active digital banking users (units in thousands) ⁽¹⁾	35,722			33,971			35,722			35,518			34,855			34,472			33,971
Active mobile banking users (units in thousands)	25,335			22,898			25,335			24,801			24,238			23,572			22,898
Financial centers	4,411			4,542			4,411			4,435			4,470			4,511			4,542
ATMs	16,050			15,972			16,050			16,011			16,039			15,973			15,972

Total U.S. credit card ⁽²⁾
Loans
Average credit card outstandings	$	93,975		$	89,545		$	93,531		$	94,423		$	93,531		$	91,602		$	89,464
Ending credit card outstandings	94,790			90,776			94,790			93,014			96,274			92,602			90,776
Credit quality
Net charge-offs	$	1,440		$	1,246		$	739		$	701		$	655		$	612		$	640
	3.09		%	2.81		%	3.17		%	3.01		%	2.78		%	2.65		%	2.87		%
30+ delinquency	$	1,695		$	1,550		$	1,695		$	1,795		$	1,847		$	1,657		$	1,550
	1.79		%	1.71		%	1.79		%	1.93		%	1.92		%	1.79		%	1.71		%
90+ delinquency	$	865		$	772		$	865		$	925		$	900		$	810		$	772
	0.91		%	0.85		%	0.91		%	0.99		%	0.93		%	0.87		%	0.85		%
Other Total U.S. credit card indicators ⁽²⁾
Gross interest yield	9.90		%	9.55		%	9.86		%	9.93		%	9.75		%	9.76		%	9.54		%
Risk adjusted margin	8.19			8.65			8.07			8.32			8.74			8.63			8.40
New accounts (in thousands)	2,380			2,486			1,186			1,194			1,138			1,315			1,302
Purchase volumes	$	128,168		$	116,986		$	66,821		$	61,347		$	65,523		$	62,244		$	61,665

Debit card data
Purchase volumes	$	156,749		$	145,960		$	80,697		$	76,052		$	77,912		$	74,769		$	75,349

Loan production ⁽³⁾
Total ⁽⁴⁾:
First mortgage	$	21,096		$	24,693		$	11,672		$	9,424		$	12,705		$	13,183		$	13,251
Home equity	7,830			8,738			4,081			3,749			4,053			4,133			4,685
Consumer Banking:
First mortgage	$	13,845		$	16,635		$	7,881		$	5,964		$	8,386		$	9,044		$	9,006
Home equity	6,989			7,882			3,644			3,345			3,595			3,722			4,215


⁽¹⁾	Digital users represents mobile and/or online users across consumer businesses.


⁽²⁾	In addition to the U.S. credit card portfolio in Consumer Banking, the remaining U.S. credit card portfolio is in GWIM.


⁽³⁾	The above loan production amounts represent the unpaid principal balance of loans and, in the case of home equity, the principal amount of the total line of credit.


⁽⁴⁾	In addition to loan production in Consumer Banking, there is also first mortgage and home equity loan production in GWIM.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	21



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
	2018			2017			Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
Net interest income (FTE basis)	$	3,137		$	3,157		$	1,543		$	1,594		$	1,520		$	1,496		$	1,597
Noninterest income:
Investment and brokerage services	5,977			5,620			2,937			3,040			2,920			2,854			2,829
All other income	451			510			229			222			243			270			269
Total noninterest income	6,428			6,130			3,166			3,262			3,163			3,124			3,098
Total revenue, net of interest expense (FTE basis)	9,565			9,287			4,709			4,856			4,683			4,620			4,695

Provision for credit losses	50			34			12			38			6			16			11

Noninterest expense	6,827			6,721			3,399			3,428			3,473			3,371			3,392
Income before income taxes (FTE basis)	2,688			2,532			1,298			1,390			1,204			1,233			1,292
Income tax expense (FTE basis)	685			955			330			355			462			464			488
Net income	$	2,003		$	1,577		$	968		$	1,035		$	742		$	769		$	804

Net interest yield (FTE basis)	2.44		%	2.34		%	2.43		%	2.46		%	2.32		%	2.29		%	2.41		%
Return on average allocated capital ⁽¹⁾	28			23			27			29			21			22			23
Efficiency ratio (FTE basis)	71.37			72.37			72.17			70.60			74.14			72.95			72.24

Balance Sheet
Average
Total loans and leases	$	159,969		$	149,615		$	160,833		$	159,095		$	157,063		$	154,333		$	150,812
Total earning assets ⁽²⁾	258,939			271,884			255,145			262,775			259,550			259,564			265,845
Total assets ⁽²⁾	275,996			287,266			272,317			279,716			276,153			275,570			281,167
Total deposits	239,627			251,324			236,214			243,077			240,126			239,647			245,329
Allocated capital ⁽¹⁾	14,500			14,000			14,500			14,500			14,000			14,000			14,000

Period end
Total loans and leases	$	162,034		$	153,468		$	162,034		$	159,636		$	159,378		$	155,871		$	153,468
Total earning assets ⁽²⁾	253,910			258,744			253,910			262,430			267,026			259,548			258,744
Total assets ⁽²⁾	270,913			274,746			270,913			279,331			284,321			276,187			274,746
Total deposits	233,925			237,131			233,925			241,531			246,994			237,771			237,131


⁽¹⁾	Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	22



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Key Indicators
(Dollars in millions, except as noted)
	Six months ended June 30					Second Quarter 2018		First Quarter 2018			Fourth Quarter 2017		Third Quarter 2017		Second Quarter 2017
	2018			2017		Second Quarter 2018		First Quarter 2018			Fourth Quarter 2017		Third Quarter 2017		Second Quarter 2017
Revenue by Business
Merrill Lynch Global Wealth Management	$	7,856		$	7,656	$	3,860	$	3,996		$	3,836	$	3,796	$	3,874
U.S. Trust	1,708			1,628		848		860			845		822		819
Other	1			3		1		—			2		2		2
Total revenue, net of interest expense (FTE basis)	$	9,565		$	9,287	$	4,709	$	4,856		$	4,683	$	4,620	$	4,695

Client Balances by Business, at period end
Merrill Lynch Global Wealth Management	$	2,311,598		$	2,196,238	$	2,311,598	$	2,284,803		$	2,305,664	$	2,245,499	$	2,196,238
U.S. Trust	442,608			421,180		442,608		440,683			446,199		430,684		421,180
Total client balances	$	2,754,206		$	2,617,418	$	2,754,206	$	2,725,486		$	2,751,863	$	2,676,183	$	2,617,418

Client Balances by Type, at period end
Assets under management ⁽¹⁾	$	1,101,001		$	990,709	$	1,101,001	$	1,084,717		$	1,080,747	$	1,036,048	$	990,709
Brokerage and other assets	1,254,135			1,233,313		1,254,135		1,236,799			1,261,990		1,243,858		1,233,313
Deposits	233,925			237,131		233,925		241,531			246,994		237,771		237,131
Loans and leases ⁽²⁾	165,145			156,265		165,145		162,439			162,132		158,506		156,265
Total client balances	$	2,754,206		$	2,617,418	$	2,754,206	$	2,725,486		$	2,751,863	$	2,676,183	$	2,617,418

Assets Under Management Rollforward
Assets under management, beginning balance	$	1,080,747		$	886,148	$	1,084,717	$	1,080,747		$	1,036,048	$	990,709	$	946,778
Net client flows	35,015			56,730		10,775		24,240			18,228		20,749		27,516
Market valuation/other	(14,761		)	47,831		5,509		(20,270		)	26,471		24,590		16,415
Total assets under management, ending balance	$	1,101,001		$	990,709	$	1,101,001	$	1,084,717		$	1,080,747	$	1,036,048	$	990,709

Associates, at period end ⁽³⁾
Number of financial advisors	17,442			17,017		17,442		17,367			17,355		17,221		17,017
Total wealth advisors, including financial advisors	19,350			18,881		19,350		19,276			19,238		19,108		18,881
Total primary sales professionals, including financial advisors and wealth advisors	20,447			19,863		20,447		20,398			20,344		20,115		19,863

Merrill Lynch Global Wealth Management Metric
Financial advisor productivity ⁽⁴⁾ (in thousands)	$	1,027		$	1,016	$	1,017	$	1,038		$	994	$	994	$	1,040

U.S. Trust Metric, at period end
Primary sales professionals	1,722			1,665		1,722		1,737			1,714		1,696		1,665


⁽¹⁾	Defined as managed assets under advisory and/or discretion of GWIM.


⁽²⁾	Includes margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet.


⁽³⁾	Includes financial advisors in the Consumer Banking segment of 2,622, 2,538, 2,402, 2,267 and 2,206 at June 30, 2018, March 31, 2018, December 31, 2017, September 30, 2017 and June 30, 2017, respectively.


⁽⁴⁾	Financial advisor productivity is defined as annualized Merrill Lynch Global Wealth Management total revenue, excluding the allocation of certain asset and liability management (ALM) activities, divided by the total average number of financial advisors (excluding financial advisors in the Consumer Banking segment).

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	23



Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
	2018			2017
Net interest income (FTE basis)	$	5,351		$	5,143		$	2,711		$	2,640		$	2,719		$	2,642		$	2,541
Noninterest income:
Service charges	1,532			1,575			769			763			774			776			809
Investment banking fees	1,487			1,855			743			744			811			806			929
All other income	1,486			1,421			699			787			715			763			760
Total noninterest income	4,505			4,851			2,211			2,294			2,300			2,345			2,498
Total revenue, net of interest expense (FTE basis)	9,856			9,994			4,922			4,934			5,019			4,987			5,039

Provision for credit losses	(7		)	32			(23		)	16			132			48			15

Noninterest expense	4,349			4,317			2,154			2,195			2,161			2,119			2,154
Income before income taxes (FTE basis)	5,514			5,645			2,791			2,723			2,726			2,820			2,870
Income tax expense (FTE basis)	1,434			2,130			727			707			1,046			1,062			1,084
Net income	$	4,080		$	3,515		$	2,064		$	2,016		$	1,680		$	1,758		$	1,786

Net interest yield (FTE basis)	2.97		%	2.89		%	2.98		%	2.96		%	3.00		%	2.94		%	2.85		%
Return on average allocated capital ⁽¹⁾	20			18			20			20			17			17			18
Efficiency ratio (FTE basis)	44.13			43.19			43.78			44.47			43.02			42.52			42.72

Balance Sheet
Average
Total loans and leases	$	353,398		$	343,966		$	355,088		$	351,689		$	350,262		$	346,093		$	345,063
Total earning assets ⁽²⁾	363,212			358,500			364,587			361,822			359,199			357,014			357,407
Total assets ⁽²⁾	421,933			414,924			423,256			420,594			419,513			414,755			413,950
Total deposits	323,807			302,827			323,215			324,405			329,761			315,692			300,483
Allocated capital ⁽¹⁾	41,000			40,000			41,000			41,000			40,000			40,000			40,000

Period end
Total loans and leases	$	355,473		$	344,457		$	355,473		$	355,165		$	350,668		$	349,838		$	344,457
Total earning assets ⁽²⁾	364,428			353,649			364,428			365,895			365,560			364,591			353,649
Total assets ⁽²⁾	424,971			410,580			424,971			424,134			424,533			423,185			410,580
Total deposits	326,029			303,205			326,029			331,238			329,273			319,545			303,205


⁽¹⁾	Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	24



Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
	2018			2017			Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
Investment Banking fees ⁽¹⁾
Advisory ⁽²⁾	$	545		$	856		$	269		$	276		$	381		$	321		$	465
Debt issuance	723			773			367			356			336			397			361
Equity issuance	219			226			107			112			94			88			103
Total Investment Banking fees⁽³⁾	$	1,487		$	1,855		$	743		$	744		$	811		$	806		$	929

Business Lending
Corporate	$	2,143		$	2,195		$	1,093		$	1,050		$	1,065		$	1,127		$	1,093
Commercial	1,949			2,096			974			975			1,094			1,090			1,052
Business Banking	198			200			99			99			103			101			99
Total Business Lending revenue	$	4,290		$	4,491		$	2,166		$	2,124		$	2,262		$	2,318		$	2,244

Global Transaction Services
Corporate	$	1,794		$	1,630		$	912		$	882		$	852		$	840		$	833
Commercial	1,627			1,459			811			816			800			758			752
Business Banking	469			408			237			232			224			217			211
Total Global Transaction Services revenue	$	3,890		$	3,497		$	1,960		$	1,930		$	1,876		$	1,815		$	1,796

Average deposit balances
Interest-bearing	$	116,889		$	74,179		$	120,427		$	113,312		$	106,537		$	94,232		$	77,490
Noninterest-bearing	206,918			228,648			202,788			211,093			223,224			221,460			222,993
Total average deposits	$	323,807		$	302,827		$	323,215		$	324,405		$	329,761		$	315,692		$	300,483

Loan spread	1.54		%	1.60		%	1.54		%	1.53		%	1.56		%	1.56		%	1.56		%

Provision for credit losses	$	(7	)	$	32		$	(23	)	$	16		$	132		$	48		$	15

Credit quality ^{(4, 5)}
Reservable criticized utilized exposure	$	10,482		$	14,074		$	10,482		$	11,865		$	12,038		$	13,273		$	14,074
	2.77		%	3.80		%	2.77		%	3.13		%	3.21		%	3.55		%	3.80		%

Nonperforming loans, leases and foreclosed properties	$	1,133		$	1,345		$	1,133		$	1,286		$	1,118		$	1,123		$	1,345
	0.32		%	0.39		%	0.32		%	0.36		%	0.32		%	0.32		%	0.39		%

Average loans and leases by product
U.S. commercial	$	201,808		$	199,604		$	202,879		$	200,726		$	201,432		$	197,841		$	200,577
Non-U.S. commercial	79,055			72,496			79,390			78,716			77,339			76,226			72,729
Commercial real estate	50,264			48,971			50,745			49,777			49,194			49,247			49,122
Commercial lease financing	22,268			22,892			22,069			22,469			22,297			22,778			22,634
Other	3			3			5			1			—			1			1
Total average loans and leases	$	353,398		$	343,966		$	355,088		$	351,689		$	350,262		$	346,093		$	345,063

Total Corporation Investment Banking fees
Advisory ⁽²⁾	$	599		$	888		$	303		$	296		$	429		$	374		$	483
Debt issuance	1,701			1,827			874			827			846			962			901
Equity issuance	604			543			290			314			204			193			231
Total investment banking fees including self-led deals	2,904			3,258			1,467			1,437			1,479			1,529			1,615
Self-led deals	(129		)	(142		)	(45		)	(84		)	(61		)	(52		)	(83		)
Total Investment Banking fees	$	2,775		$	3,116		$	1,422		$	1,353		$	1,418		$	1,477		$	1,532


⁽¹⁾	Investment banking fees represent total investment banking fees for Global Banking inclusive of self-led deals and fees included within Business Lending.


⁽²⁾	Advisory includes fees on debt and equity advisory and mergers and acquisitions.


⁽³⁾	Investment banking fees represent only the fee component in Global Banking and do not include certain other items shared with the Investment Banking Group under internal revenue sharing agreements.

⁽⁴⁾

Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure is on an end-of-period basis and is also shown as a percentage of total commercial reservable criticized utilized exposure, including loans and leases, standby letters of credit, financial guarantees, commercial letters of credit and bankers’ acceptances.


⁽⁵⁾	Nonperforming loans, leases and foreclosed properties are on an end-of-period basis. The nonperforming ratio is nonperforming assets divided by loans, leases and foreclosed properties.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	25



Bank of America Corporation and Subsidiaries
Investment Banking Product Rankings

	Six Months Ended June 30, 2018
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
Net investment banking revenue	4	5.6	%	4	7.5	%
Announced mergers and acquisitions	5	18.4		4	20.2
Equity capital markets	5	5.7		4	8.9
Debt capital markets	3	6.0		1	12.6
High-yield corporate debt	5	5.8		4	7.7
Leveraged loans	2	8.3		2	10.1
Mortgage-backed securities	3	9.2		5	11.1
Asset-backed securities	2	11.2		2	13.3
Convertible debt	4	8.3		3	15.5
Common stock underwriting	5	5.2		6	7.1
Investment-grade corporate debt	1	6.4		1	12.6
Syndicated loans	2	9.0		2	11.1

Source: Dealogic data as of July 2, 2018. Figures above include self-led transactions.


•	Rankings based on deal volumes except for net investment banking revenue rankings which reflect fees.


•	Debt capital markets excludes loans but includes agencies.


•	Mergers and acquisitions fees included in net investment banking revenue reflect 10 percent fee credit at announcement and 90 percent fee credit at completion as per Dealogic.


•	Mergers and acquisitions volume rankings are for announced transactions and provide credit to all investment banks advising either side of the transaction.


•	Each advisor receives full credit for the deal amount unless advising a minority stakeholder.

Highlights



Global top 3 rankings in:
Leveraged loans		Investment-grade corporate debt
Mortgage-backed securities		Syndicated loans
Asset-backed securities		Debt capital markets

U.S. top 3 rankings in:
Leveraged loans		Investment-grade corporate debt
Asset-backed securities		Syndicated loans
Convertible debt		Debt capital markets

Top 3 rankings excluding self-led deals:


Global:	Leveraged loans, Asset-backed securities, Investment-grade corporate debt, Syndicated loans, Debt capital markets


U.S.:	Leveraged loans, Asset-backed securities, Convertible debt, Investment-grade corporate debt, Syndicated loans, Debt capital markets



Current period information is preliminary and based on company data available at the time of the presentation.	26



Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
	2018			2017			Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
Net interest income (FTE basis)	$	1,671		$	1,913		$	801		$	870		$	932		$	899		$	864
Noninterest income:
Investment and brokerage services	918			1,052			430			488			501			496			521
Investment banking fees	1,261			1,255			652			609			597			624			590
Trading account profits	4,887			3,920			2,184			2,703			1,075			1,714			1,743
All other income	270			514			154			116			291			168			229
Total noninterest income	7,336			6,741			3,420			3,916			2,464			3,002			3,083
Total revenue, net of interest expense (FTE basis) ⁽¹⁾	9,007			8,654			4,221			4,786			3,396			3,901			3,947

Provision for credit losses	(4		)	8			(1		)	(3		)	162			(6		)	25

Noninterest expense	5,533			5,406			2,715			2,818			2,614			2,711			2,650
Income before income taxes (FTE basis)	3,478			3,240			1,507			1,971			620			1,196			1,272
Income tax expense (FTE basis)	904			1,113			391			513			210			440			442
Net income	$	2,574		$	2,127		$	1,116		$	1,458		$	410		$	756		$	830

Return on average allocated capital ⁽²⁾	15		%	12		%	13		%	17		%	5		%	9		%	10		%
Efficiency ratio (FTE basis)	61.43			62.46			64.33			58.87			77.01			69.48			67.12

Balance Sheet
Average
Total trading-related assets ⁽³⁾	$	468,175		$	437,545		$	473,126		$	463,169		$	449,737		$	442,283		$	452,563
Total loans and leases	74,412			69,850			75,053			73,763			73,552			72,347			69,638
Total earning assets⁽³⁾	488,307			443,321			490,482			486,107			464,171			446,754			456,588
Total assets	678,434			626,224			678,500			678,367			659,412			642,428			645,227
Total deposits	31,524			32,535			30,736			32,320			34,250			32,125			31,919
Allocated capital ⁽²⁾	35,000			35,000			35,000			35,000			35,000			35,000			35,000

Period end
Total trading-related assets ⁽³⁾	$	441,657		$	436,193		$	441,657		$	450,512		$	419,375		$	426,371		$	436,193
Total loans and leases	73,496			73,973			73,496			75,638			76,778			76,225			73,973
Total earning assets ⁽³⁾	454,706			448,613			454,706			478,857			449,314			441,656			448,613
Total assets	637,110			633,188			637,110			648,605			629,013			629,222			633,188
Total deposits	31,450			33,363			31,450			32,301			34,029			33,382			33,363

Trading-related assets (average)
Trading account securities	$	209,772		$	212,767		$	209,271		$	210,278		$	225,330		$	216,988		$	221,569
Reverse repurchases	128,125			99,206			132,257			123,948			107,125			101,556			101,551
Securities borrowed	82,831			84,695			83,282			82,376			77,580			81,950			88,041
Derivative assets	47,447			40,877			48,316			46,567			39,702			41,789			41,402
Total trading-related assets ⁽³⁾	$	468,175		$	437,545		$	473,126		$	463,169		$	449,737		$	442,283		$	452,563


⁽¹⁾	Substantially all of Global Markets total revenue is sales and trading revenue and investment banking fees, with a small portion related to certain revenue sharing agreements with other business segments. For additional sales and trading revenue information, see page 28.


⁽²⁾	Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.


⁽³⁾	Trading-related assets include derivative assets, which are considered non-earning assets.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	27



Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	Six Months Ended June 30				Second Quarter 2018		First Quarter 2018		Fourth Quarter 2017		Third Quarter 2017		Second Quarter 2017
	2018		2017		Second Quarter 2018		First Quarter 2018		Fourth Quarter 2017		Third Quarter 2017		Second Quarter 2017
Sales and trading revenue ⁽¹⁾
Fixed income, currency and commodities	$	4,720	$	4,916	$	2,106	$	2,614	$	1,597	$	2,152	$	2,106
Equities	2,814		2,193		1,311		1,503		942		977		1,104
Total sales and trading revenue	$	7,534	$	7,109	$	3,417	$	4,117	$	2,539	$	3,129	$	3,210

Sales and trading revenue, excluding debit valuation adjustment ⁽²⁾
Fixed income, currency and commodities	$	4,826	$	5,184	$	2,290	$	2,536	$	1,709	$	2,166	$	2,254
Equities	2,823		2,214		1,306		1,517		948		984		1,115
Total sales and trading revenue, excluding debit valuation adjustment	$	7,649	$	7,398	$	3,596	$	4,053	$	2,657	$	3,150	$	3,369

Sales and trading revenue breakdown
Net interest income	$	1,418	$	1,678	$	675	$	743	$	805	$	777	$	749
Commissions	896		1,038		420		476		492		487		514
Trading	4,885		3,919		2,183		2,702		1,075		1,712		1,743
Other	335		474		139		196		167		153		204
Total sales and trading revenue	$	7,534	$	7,109	$	3,417	$	4,117	$	2,539	$	3,129	$	3,210


⁽¹⁾	Includes Global Banking sales and trading revenue of $241 million and $114 million for the six months ended June 30, 2018 and 2017; $75 million and $166 million for the second and first quarters of 2018, and $61 million, $61 million and $56 million for the fourth, third and second quarters of 2017, respectively.

⁽²⁾

For this presentation, sales and trading revenue excludes net debit valuation adjustment (DVA) gains (losses) which include net DVA on derivatives, as well as amortization of own credit portion of purchase discount and realized DVA on structured liabilities. Sales and trading revenue excluding net DVA gains (losses) represents a non-GAAP financial measure. We believe the use of this non-GAAP financial measure provides additional useful information to assess the underlying performance of these businesses and to allow better comparison of period-to-period operating performance.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	28



Bank of America Corporation and Subsidiaries
All Other Results ⁽¹⁾
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
	2018			2017			Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
Net interest income (FTE basis)	$	273		$	524		$	129		$	144		$	188		$	152		$	260
Noninterest income (loss)	(906		)	260			(429		)	(477		)	(1,554		)	(355		)	616
Total revenue, net of interest expense (FTE basis)	(633		)	784			(300		)	(333		)	(1,366		)	(203		)	876

Provision for credit losses	(257		)	(185		)	(105		)	(152		)	(185		)	(191		)	(159		)

Noninterest expense	1,595			2,811			619			976			519			733			1,375
Loss before income taxes (FTE basis)	(1,971		)	(1,842		)	(814		)	(1,157		)	(1,700		)	(745		)	(340		)
Income tax expense (benefit) (FTE basis)	(1,438		)	(1,143		)	(567		)	(871		)	964			(799		)	5
Net income (loss)	$	(533	)	$	(699	)	$	(247	)	$	(286	)	$	(2,664	)	$	54		$	(345	)

Balance Sheet
Average
Total loans and leases	$	65,470		$	91,250		$	63,155		$	67,811		$	71,197		$	76,546		$	87,667
Total assets ⁽²⁾	194,554			205,914			188,623			200,554			208,854			207,274			204,196
Total deposits	22,896			25,811			22,682			23,115			23,899			25,273			26,320

Period end
Total loans and leases	$	61,256		$	78,830		$	61,256		$	64,584		$	69,452		$	72,823		$	78,830
Total assets ⁽³⁾	190,489			201,024			190,489			202,152			194,042			213,067			201,024
Total deposits	22,757			26,603			22,757			22,106			22,719			24,072			26,603

⁽¹⁾

All Other consists of ALM activities, equity investments, non-core mortgage loans and servicing activities, the net impact of periodic revisions to the MSR valuation model for both core and non-core MSRs and the related economic hedge results, liquidating businesses and residual expense allocations. ALM activities encompass certain residential mortgages, debt securities, interest rate and foreign currency risk management activities, the impact of certain allocation methodologies and hedge ineffectiveness. The results of certain ALM activities are allocated to our business segments. Equity investments include our merchant services joint venture, as well as a portfolio of equity, real estate and other alternative investments.

⁽²⁾

Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity of $517.1 billion and $521.9 billion for the six months ended June 30, 2018 and 2017; and $519.6 billion, $514.6 billion, $508.6 billion, $510.1 billion and $521.8 billion for the second and first quarters of 2018, and the fourth, third and second quarters of 2017.


⁽³⁾	Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity of $522.2 billion, $543.3 billion, $520.4 billion, $515.0 billion and $517.7 billion at June 30, 2018, March 31, 2018, December 31, 2017, September 30, 2017 and June 30, 2017, respectively.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	29



Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	June 30 2018		March 31 2018		June 30 2017
Consumer
Residential mortgage	$	207,564	$	204,112	$	197,446
Home equity	53,587		55,308		61,942
U.S. credit card	94,790		93,014		90,776
Direct/Indirect consumer ⁽¹⁾	92,621		93,942		95,572
Other consumer ⁽²⁾	167		131		579
Total consumer loans excluding loans accounted for under the fair value option	448,729		446,507		446,315
Consumer loans accounted for under the fair value option ⁽³⁾	848		894		1,035
Total consumer	449,577		447,401		447,350

Commercial
U.S. commercial ⁽⁴⁾	303,946		302,368		291,235
Non-U.S. commercial	94,450		97,365		90,786
Commercial real estate ⁽⁵⁾	61,073		60,085		59,177
Commercial lease financing	21,399		21,764		21,828
Total commercial loans excluding loans accounted for under the fair value option	480,868		481,582		463,026
Commercial loans accounted for under the fair value option ⁽³⁾	5,379		5,095		6,290
Total commercial	486,247		486,677		469,316
Total loans and leases	$	935,824	$	934,078	$	916,666

⁽¹⁾

Includes auto and specialty lending loans and leases of $50.2 billion, $51.8 billion and $51.2 billion, unsecured consumer lending loans of $410 million, $428 million and $509 million, U.S. securities-based lending loans of $38.4 billion, $38.1 billion and $39.8 billion, non-U.S. consumer loans of $2.8 billion, $2.9 billion and $2.9 billion, student loans of $0, $0 and $463 million and other consumer loans of $769 million, $676 million and $657 million at June 30, 2018, March 31, 2018 and June 30, 2017, respectively.


⁽²⁾	Substantially all of other consumer at June 30, 2018 and March 31, 2018 is consumer overdrafts. Other consumer at June 30, 2017 also includes consumer finance loans of $420 million.

⁽³⁾

Consumer loans accounted for under the fair value option were residential mortgage loans of $489 million, $523 million and $666 million and home equity loans of $359 million, $371 million and $369 million at June 30, 2018, March 31, 2018 and June 30, 2017, respectively. Commercial loans accounted for under the fair value option were U.S. commercial loans of $3.5 billion, $3.2 billion and $3.2 billion and non-U.S. commercial loans of $1.9 billion, $1.9 billion and $3.1 billion at June 30, 2018, March 31, 2018 and June 30, 2017, respectively.


⁽⁴⁾	Includes U.S. small business commercial loans, including card-related products, of $14.2 billion, $13.9 billion and $13.6 billion at June 30, 2018, March 31, 2018 and June 30, 2017, respectively.


⁽⁵⁾	Includes U.S. commercial real estate loans of $57.1 billion, $55.6 billion and $55.6 billion and non-U.S. commercial real estate loans of $4.0 billion, $4.5 billion and $3.6 billion at June 30, 2018, March 31, 2018 and June 30, 2017, respectively.

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	30



Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment and All Other
(Dollars in millions)
	Second Quarter 2018
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	206,083	$	81,402	$	73,663	$	4	$	—	$	51,014
Home equity	54,863		38,239		3,829		—		365		12,430
U.S. credit card	93,531		90,481		3,050		—		—		—
Direct/Indirect and other consumer	93,620		51,602		42,011		1		—		6
Total consumer	448,097		261,724		122,553		5		365		63,450

Commercial
U.S. commercial	305,372		18,950		34,440		202,879		48,827		276
Non-U.S. commercial	99,255		—		24		79,390		19,800		41
Commercial real estate	60,653		15		3,813		50,745		6,061		19
Commercial lease financing	21,441		—		3		22,069		—		(631		)
Total commercial	486,721		18,965		38,280		355,083		74,688		(295		)
Total loans and leases	$	934,818	$	280,689	$	160,833	$	355,088	$	75,053	$	63,155

	First Quarter 2018
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	204,830	$	77,265	$	72,587	$	—	$	—	$	54,978
Home equity	56,952		39,407		3,997		—		362		13,186
U.S. credit card	94,423		91,372		3,051		—		—		—
Direct/Indirect and other consumer	95,292		52,867		42,419		1		—		5
Total consumer	451,497		260,911		122,054		1		362		68,169

Commercial
U.S. commercial	299,850		18,626		33,333		200,726		46,933		232
Non-U.S. commercial	99,504		—		27		78,716		20,737		24
Commercial real estate	59,231		20		3,678		49,777		5,731		25
Commercial lease financing	21,833		—		3		22,469		—		(639		)
Total commercial	480,418		18,646		37,041		351,688		73,401		(358		)
Total loans and leases	$	931,915	$	279,557	$	159,095	$	351,689	$	73,763	$	67,811

	Second Quarter 2017
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	195,935	$	62,983	$	67,628	$	—	$	—	$	65,324
Home equity	63,332		42,675		4,563		1		351		15,742
U.S. credit card	89,464		86,519		2,945		—		—		—
Non-U.S. credit card ⁽¹⁾	6,494		—		—		—		—		6,494
Direct/Indirect and other consumer	95,775		51,509		43,358		—		—		908
Total consumer	451,000		243,686		118,494		1		351		88,468

Commercial
U.S. commercial	291,162		17,831		29,125		200,577		43,353		276
Non-U.S. commercial	92,708		—		22		72,729		19,939		18
Commercial real estate	58,198		20		3,168		49,122		5,831		57
Commercial lease financing	21,649		—		3		22,634		164		(1,152		)
Total commercial	463,717		17,851		32,318		345,062		69,287		(801		)
Total loans and leases ⁽¹⁾	$	914,717	$	261,537	$	150,812	$	345,063	$	69,638	$	87,667


⁽¹⁾	During the second quarter of 2017, the Corporation sold its non-U.S. consumer credit card business.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	31



Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry ^{(1, 2, 3, 4)}
(Dollars in millions)
	Commercial Utilized						Total Commercial Committed
	June 30 2018		March 31 2018		June 30 2017		June 30 2018		March 31 2018		June 30 2017
Asset managers and funds	$	67,210	$	70,819	$	57,549	$	103,136	$	103,466	$	86,292
Real estate ⁽⁵⁾	64,899		64,507		63,480		89,400		88,750		85,115
Capital goods	39,876		39,560		34,373		75,092		73,650		66,302
Healthcare equipment and services	35,299		37,456		36,749		57,893		58,960		56,365
Government and public education	45,827		47,499		46,057		55,565		57,269		54,695
Finance companies	34,173		31,984		34,233		54,010		52,392		51,643
Materials	26,261		26,213		22,964		50,435		50,569		45,851
Retailing	25,689		25,679		26,703		45,591		45,241		54,680
Consumer services	26,285		27,160		27,061		43,913		43,005		42,383
Food, beverage and tobacco	24,226		22,351		22,211		43,803		44,620		42,421
Commercial services and supplies	22,265		22,686		21,336		36,834		36,387		34,137
Energy	16,181		15,888		17,044		35,163		35,564		36,878
Media	12,205		13,089		13,195		31,296		36,778		24,911
Transportation	21,425		21,652		20,917		30,054		30,121		28,886
Global commercial banks	26,464		28,142		26,693		28,465		30,218		28,634
Utilities	10,881		11,515		12,176		26,884		28,639		27,273
Individuals and trusts	18,507		19,276		17,619		24,487		25,161		22,971
Technology hardware and equipment	9,827		10,116		9,429		20,933		21,691		22,738
Vehicle dealers	16,400		16,621		16,138		19,732		20,409		19,716
Pharmaceuticals and biotechnology	7,595		4,785		5,670		19,448		20,116		18,936
Consumer durables and apparel	9,201		9,286		9,166		18,568		18,535		17,457
Software and services	7,686		7,971		9,164		17,494		20,757		18,361
Automobiles and components	7,192		7,097		5,391		14,338		13,993		11,546
Telecommunication services	7,386		6,234		6,237		13,206		12,823		14,535
Insurance	6,215		6,230		6,049		12,778		12,853		11,938
Food and staples retailing	5,222		5,298		4,771		11,259		11,452		9,265
Religious and social organizations	3,807		3,823		4,259		5,587		5,697		6,071
Financial markets infrastructure (clearinghouses)	1,372		1,499		621		3,164		3,261		2,372
Other	5,482		5,252		6,109		5,521		5,247		5,520
Total commercial credit exposure by industry	$	605,058	$	609,688	$	583,364	$	994,049	$	1,007,624	$	947,892

⁽¹⁾

Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held-for-sale, commercial letters of credit, bankers’ acceptances, securitized assets, foreclosed properties and other collateral acquired. Derivative assets are carried at fair value, reflect the effects of legally enforceable master netting agreements and have been reduced by cash collateral of $33.3 billion, $36.5 billion and $34.6 billion at June 30, 2018, March 31, 2018 and June 30, 2017, respectively. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $31.9 billion, $36.9 billion and $25.5 billion, which consists primarily of other marketable securities, at June 30, 2018, March 31, 2018 and June 30, 2017, respectively.

⁽²⁾

Total utilized and total committed exposure includes loans of $5.4 billion, $5.1 billion and $6.3 billion and issued letters of credit with a notional amount of $167 million, $193 million and $262 million accounted for under the fair value option at June 30, 2018, March 31, 2018 and June 30, 2017, respectively. In addition, total committed exposure includes unfunded loan commitments accounted for under the fair value option with a notional amount of $3.2 billion, $4.2 billion and $4.2 billion at June 30, 2018, March 31, 2018 and June 30, 2017, respectively.


⁽³⁾	Includes U.S. small business commercial exposure.


⁽⁴⁾	Includes the notional amount of unfunded legally binding lending commitments net of amounts distributed (e.g., syndicated or participated) to other financial institutions.


⁽⁵⁾	Industries are viewed from a variety of perspectives to best isolate the perceived risks. For purposes of this table, the real estate industry is defined based on the borrowers’ or counterparties’ primary business activity using operating cash flows and primary source of repayment as key factors.

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	32



Bank of America Corporation and Subsidiaries
Top 20 Non-U.S. Countries Exposure
(Dollars in millions)
	Funded Loans and Loan Equivalents ⁽¹⁾		Unfunded Loan Commitments		Net Counterparty Exposure		Securities/ Other Investments ⁽²⁾		Country Exposure at June 30 2018		Hedges and Credit Default Protection ⁽³⁾			Net Country Exposure at June 30 2018 ⁽⁴⁾		Increase (Decrease) from March 31 2018
United Kingdom	$	27,911	$	15,780	$	5,366	$	991	$	50,048	$	(4,123	)	$	45,925	$	(1,016	)
Germany	17,979		6,469		1,825		733		27,006		(3,482		)	23,524		(4,082		)
Canada	7,378		7,214		1,983		3,062		19,637		(538		)	19,099		1,450
Japan	12,179		2,229		1,426		1,182		17,016		(1,475		)	15,541		1,591
China	13,306		307		972		838		15,423		(477		)	14,946		(1,378		)
France	5,704		5,774		3,085		3,344		17,907		(3,815		)	14,092		2,327
Brazil	7,046		1,118		492		2,128		10,784		(410		)	10,374		(883		)
Netherlands	6,713		2,586		556		1,359		11,214		(1,302		)	9,912		412
India	6,631		326		324		2,666		9,947		(56		)	9,891		(1,430		)
Australia	5,063		3,622		604		1,093		10,382		(506		)	9,876		(178		)
Hong Kong	6,688		233		521		1,042		8,484		(39		)	8,445		(662		)
South Korea	5,459		591		653		1,867		8,570		(264		)	8,306		(368		)
Switzerland	4,438		3,058		250		121		7,867		(982		)	6,885		(354		)
Singapore	3,360		207		541		2,206		6,314		(74		)	6,240		(232		)
Mexico	3,185		1,898		202		1,165		6,450		(578		)	5,872		955
Belgium	2,650		1,036		163		739		4,588		(639		)	3,949		(538		)
Italy	2,412		1,494		593		1,076		5,575		(1,711		)	3,864		(569		)
United Arab Emirates	2,687		488		139		63		3,377		(70		)	3,307		(157		)
Spain	2,351		1,037		209		768		4,365		(1,106		)	3,259		(1,324		)
Taiwan	1,635		33		398		567		2,633		(1		)	2,632		(60		)
Total top 20 non-U.S. countries exposure	$	144,775	$	55,500	$	20,302	$	27,010	$	247,587	$	(21,648	)	$	225,939	$	(6,496	)


⁽¹⁾	Includes loans, leases, and other extensions of credit and funds, including letters of credit and due from placements, which have not been reduced by collateral, hedges or credit default protection. Funded loans and loan equivalents are reported net of charge-offs but prior to any allowance for loan and lease losses.


⁽²⁾	Long securities exposures are netted on a single-name basis to, but not below, zero by short exposures and net credit default swaps purchased, consisting of single-name and net indexed and tranched credit default swaps.


⁽³⁾	Represents credit default protection purchased, net of credit default protection sold, which is used to mitigate the Corporation’s risk to country exposures as listed, consisting of net single-name and net indexed and tranched credit default swaps. Amounts are calculated based on the credit default swaps notional amount assuming a zero recovery rate less any fair value receivable or payable.


⁽⁴⁾	Represents country exposure less hedges and credit default protection purchased, net of credit default protection sold.

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	33



Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	June 30 2018			March 31 2018			December 31 2017			September 30 2017			June 30 2017
Residential mortgage	$	2,140		$	2,262		$	2,476		$	2,518		$	2,579
Home equity	2,452			2,598			2,644			2,691			2,681
Direct/Indirect consumer	47			46			46			43			19
Other consumer	—			—			—			—			3
Total consumer	4,639			4,906			5,166			5,252			5,282
U.S. commercial	881			1,059			814			863			1,039
Non-U.S. commercial	170			255			299			244			269
Commercial real estate	117			73			112			130			123
Commercial lease financing	34			27			24			26			28
	1,202			1,414			1,249			1,263			1,459
U.S. small business commercial	56			58			55			55			61
Total commercial	1,258			1,472			1,304			1,318			1,520
Total nonperforming loans and leases	5,897			6,378			6,470			6,570			6,802
Foreclosed properties ⁽¹⁾	284			316			288			299			325
Total nonperforming loans, leases and foreclosed properties ^{(2, 3, 4)}	$	6,181		$	6,694		$	6,758		$	6,869		$	7,127

Fully-insured home loans past due 30 days or more and still accruing	$	3,454		$	3,915		$	4,466		$	4,721		$	4,970
Consumer credit card past due 30 days or more and still accruing	1,695			1,795			1,847			1,657			1,550
Other loans past due 30 days or more and still accruing	3,682			3,684			3,845			3,885			3,428
Total loans past due 30 days or more and still accruing ^{(3, 5, 6)}	$	8,831		$	9,394		$	10,158		$	10,263		$	9,948

Fully-insured home loans past due 90 days or more and still accruing	$	2,483		$	2,885		$	3,230		$	3,372		$	3,699
Consumer credit card past due 90 days or more and still accruing	865			925			900			810			772
Other loans past due 90 days or more and still accruing	341			234			285			220			199
Total loans past due 90 days or more and still accruing ^{(3, 5, 6)}	$	3,689		$	4,044		$	4,415		$	4,402		$	4,670

Nonperforming loans, leases and foreclosed properties/Total assets ⁽⁷⁾	0.27		%	0.29		%	0.30		%	0.30		%	0.32		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties ⁽⁷⁾	0.66			0.72			0.73			0.75			0.78
Nonperforming loans and leases/Total loans and leases ⁽⁷⁾	0.63			0.69			0.69			0.71			0.75

Commercial reservable criticized utilized exposure ⁽⁸⁾	$	12,357		$	13,366		$	13,563		$	14,824		$	15,640
Commercial reservable criticized utilized exposure/Commercial reservable utilized exposure ⁽⁸⁾	2.40		%	2.58		%	2.65		%	2.91		%	3.13		%
Total commercial criticized utilized exposure/Commercial utilized exposure ⁽⁸⁾	2.34			2.45			2.60			2.93			3.14


⁽¹⁾	Foreclosed property balances do not include properties insured by certain government-guaranteed loans, principally loans insured by the Federal Housing Administration (FHA), that entered foreclosure of $573 million, $680 million, $801 million, $879 million and $1.0 billion at June 30, 2018, March 31, 2018, December 31, 2017, September 30, 2017 and June 30, 2017, respectively.


⁽²⁾	Balances do not include past due consumer credit card, consumer loans secured by real estate where repayments are insured by the FHA and individually insured long-term stand-by agreements (fully-insured home loans), and in general, other consumer and commercial loans not secured by real estate.


⁽³⁾	Balances do not include purchased credit-impaired loans even though the customer may be contractually past due. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.



⁽⁴⁾ Balances do not include the following:	June 30 2018		March 31 2018		December 31 2017		September 30 2017		June 30 2017
Nonperforming loans held-for-sale	$	220	$	233	$	341	$	325	$	267
Nonperforming loans accounted for under the fair value option	46		37		69		62		79
Nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010	17		24		26		24		22

⁽⁵⁾

Balances do not include loans held-for-sale past due 30 days or more and still accruing of $28 million, $83 million, $8 million, $42 million and $25 million at June 30, 2018, March 31, 2018, December 31, 2017, September 30, 2017 and June 30, 2017, respectively, and loans held-for-sale past due 90 days or more and still accruing of $11 million, $8 million, $0, $6 million and $0 at June 30, 2018, March 31, 2018, December 31, 2017, September 30, 2017 and June 30, 2017, respectively. At June 30, 2018, March 31, 2018, December 31, 2017, September 30, 2017 and June 30, 2017, there were $24 million, $27 million, $32 million, $40 million and $37 million, respectively, of loans accounted for under the fair value option past due 30 days or more and still accruing interest.


⁽⁶⁾	These balances are excluded from total nonperforming loans, leases and foreclosed properties.


⁽⁷⁾	Total assets and total loans and leases do not include loans accounted for under the fair value option of $6.2 billion, $6.0 billion, $5.7 billion, $6.3 billion and $7.3 billion at June 30, 2018, March 31, 2018, December 31, 2017, September 30, 2017 and June 30, 2017, respectively.


⁽⁸⁾	Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure excludes loans held-for-sale, exposure accounted for under the fair value option and other nonreservable exposure.

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	34



Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity ⁽¹⁾
(Dollars in millions)
	Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	4,906		$	5,166		$	5,252		$	5,282		$	5,546
Additions	599			812			755			999			682
Reductions:
Paydowns and payoffs	(261		)	(245		)	(241		)	(253		)	(262		)
Sales	(117		)	(269		)	(88		)	(162		)	(119		)
Returns to performing status ⁽²⁾	(336		)	(364		)	(337		)	(347		)	(368		)
Charge-offs ⁽³⁾	(114		)	(147		)	(125		)	(210		)	(167		)
Transfers to foreclosed properties	(38		)	(45		)	(50		)	(57		)	(53		)
Transfers (to) from loans held-for-sale	—			(2		)	—			—			23
Total net reductions to nonperforming loans and leases	(267		)	(260		)	(86		)	(30		)	(264		)
Total nonperforming consumer loans and leases, end of period	4,639			4,906			5,166			5,252			5,282
Foreclosed properties	263			264			236			259			285
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	4,902		$	5,170		$	5,402		$	5,511		$	5,567

Nonperforming Commercial Loans and Leases ⁽⁴⁾:
Balance, beginning of period	$	1,472		$	1,304		$	1,318		$	1,520		$	1,728
Additions	244			436			444			412			288
Reductions:
Paydowns	(193		)	(169		)	(127		)	(270		)	(266		)
Sales	(50		)	(24		)	(20		)	(61		)	(33		)
Return to performing status ⁽⁵⁾	(91		)	(27		)	(40		)	(100		)	(86		)
Charge-offs	(112		)	(48		)	(143		)	(145		)	(85		)
Transfers to foreclosed properties	—			—			(13		)	—			(5		)
Transfers to loans held-for-sale	(12		)	—			(115		)	(38		)	(21		)
Total net additions (reductions) to nonperforming loans and leases	(214		)	168			(14		)	(202		)	(208		)
Total nonperforming commercial loans and leases, end of period	1,258			1,472			1,304			1,318			1,520
Foreclosed properties	21			52			52			40			40
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	1,279		$	1,524		$	1,356		$	1,358		$	1,560


⁽¹⁾	For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 34.

⁽²⁾

Consumer loans and leases may be returned to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected, or when the loan otherwise becomes well-secured and is in the process of collection. Certain troubled debt restructurings are classified as nonperforming at the time of restructuring and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months.


⁽³⁾	Our policy is not to classify consumer credit card and non-bankruptcy related consumer loans not secured by real estate as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity and, accordingly, are excluded from this table.


⁽⁴⁾	Includes U.S. small business commercial activity. Small business card loans are excluded as they are not classified as nonperforming.

⁽⁵⁾

Commercial loans and leases may be returned to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected, or when the loan otherwise becomes well-secured and is in the process of collection. Troubled debt restructurings are generally classified as performing after a sustained period of demonstrated payment performance.

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	35



Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios ^{(1, 2)}
(Dollars in millions)
	Second Quarter 2018					First Quarter 2018					Fourth Quarter 2017					Third Quarter 2017					Second Quarter 2017
	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Net Charge-offs
Residential mortgage ⁽³⁾	$	7		0.01	%	$	(6	)	(0.01	)%	$	(16	)	(0.03	)%	$	(82	)	(0.16	)%	$	(19	)	(0.04	)%
Home equity	—			—		33			0.23		16			0.11		83			0.54		50			0.32
U.S. credit card	739			3.17		701			3.01		655			2.78		612			2.65		640			2.87
Non-U.S. credit card ⁽⁴⁾	—			—		—			—		—			—		—			—		31			1.89
Direct/Indirect consumer	41			0.18		59			0.25		65			0.27		68			0.28		33			0.14
Other consumer	43			n/m		43			n/m		49			n/m		50			n/m		16			n/m
Total consumer	830			0.74		830			0.75		769			0.68		731			0.65		751			0.67
U.S. commercial	78			0.11		24			0.03		56			0.08		80			0.11		52			0.08
Non-U.S. commercial	19			0.08		4			0.02		346			1.43		33			0.14		46			0.21
Commercial real estate	4			0.03		(3		)	(0.02	)	6			0.04		2			0.02		5			0.03
Commercial lease financing	1			0.01		(1		)	(0.01	)	5			0.09		(1		)	(0.02	)	1			0.01
	102			0.09		24			0.02		413			0.36		114			0.10		104			0.09
U.S. small business commercial	64			1.82		57			1.67		55			1.58		55			1.61		53			1.60
Total commercial	166			0.14		81			0.07		468			0.39		169			0.14		157			0.14
Total net charge-offs	$	996		0.43		$	911		0.40		$	1,237		0.53		$	900		0.39		$	908		0.40

By Business Segment and All Other
Consumer Banking	$	896		1.28	%	$	877		1.27	%	$	839		1.21	%	$	800		1.18	%	$	791		1.21	%
Global Wealth & Investment Management	15			0.04		25			0.06		4			0.01		11			0.03		8			0.02
Global Banking	86			0.10		19			0.02		264			0.30		106			0.12		98			0.11
Global Markets	14			0.08		6			0.03		146			0.83		23			0.13		1			0.01
All Other ⁽⁴⁾	(15		)	(0.10	)	(16		)	(0.10	)	(16		)	(0.09	)	(40		)	(0.21	)	10			0.05
Total net charge-offs	$	996		0.43		$	911		0.40		$	1,237		0.53		$	900		0.39		$	908		0.40


⁽¹⁾	Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding loans and leases excluding loans accounted for under the fair value option during the period for each loan and lease category.


⁽²⁾	Excludes write-offs of purchased credit-impaired loans of $36 million and $35 million for the second and first quarters of 2018, and $46 million, $73 million and $55 million for the fourth, third and second quarters of 2017, respectively.


⁽³⁾	Includes loan sales recoveries of $5 million and $18 million for the second and first quarters of 2018, and $3 million, $88 million and $3 million for the fourth, third and second quarters of 2017, respectively.


⁽⁴⁾	Represents net charge-offs recorded in All Other related to the non-U.S. credit card loan portfolio, which was sold during the second quarter of 2017.

n/m = not meaningful

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	36



Bank of America Corporation and Subsidiaries
Year-to-Date Net Charge-offs and Net Charge-off Ratios ^{(1, 2)}
(Dollars in millions)
	Six Months Ended June 30
	2018					2017
	Amount			Percent		Amount			Percent
Net Charge-offs
Residential mortgage ⁽³⁾	$	1		—	%	$	(2	)	—	%
Home equity	33			0.12		114			0.36
U.S. credit card	1,440			3.09		1,246			2.81
Non-U.S. credit card⁽⁴⁾	—			—		75			1.90
Direct/Indirect consumer	100			0.21		81			0.17
Other consumer	86			n/m		64			n/m
Total consumer	1,660			0.75		1,578			0.71
U.S. commercial	102			0.07		96			0.07
Non-U.S. commercial	23			0.05		61			0.14
Commercial real estate	1			—		1			—
Commercial lease financing	—			—		1			0.01
	126			0.05		159			0.07
U.S. small business commercial	121			1.75		105			1.60
Total commercial	247			0.10		264			0.12
Total net charge-offs	$	1,907		0.41		$	1,842		0.41

By Business Segment and All Other
Consumer Banking	$	1,773		1.28	%	$	1,563		1.21	%
Global Wealth & Investment Management	40			0.05		29			0.04
Global Banking	105			0.06		149			0.09
Global Markets	20			0.06		1			—
All Other ⁽⁴⁾	(31		)	(0.10	)	100			0.22
Total net charge-offs	$	1,907		0.41		$	1,842		0.41


⁽¹⁾	Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding loans and leases excluding loans accounted for under the fair value option during the period for each loan and lease category.


⁽²⁾	Excludes write-offs of purchased credit-impaired loans of $71 million and $88 million for the six months ended June 30, 2018 and 2017.


⁽³⁾	Includes loan sales recoveries of $23 million and $14 million for the six months ended June 30, 2018 and 2017.


⁽⁴⁾	Represents net charge-offs recorded in All Other related to the non-U.S. credit card loan portfolio, which was sold during the second quarter of 2017.

n/m = not meaningful

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	37



Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	June 30, 2018						March 31, 2018						June 30, 2017
	Amount		Percent of Total		Percent of Loans and Leases Outstanding ^{(1, 2)}		Amount		Percent of Total		Percent of Loans and Leases Outstanding ^{(1, 2)}		Amount		Percent of Total		Percent of Loans and Leases Outstanding ^{(1, 2)}
Allowance for loan and lease losses
Residential mortgage	$	553	5.50	%	0.27	%	$	611	5.96	%	0.30	%	$	901	8.28	%	0.46	%
Home equity	813		8.09		1.52		919		8.96		1.66		1,408		12.95		2.27
U.S. credit card	3,477		34.60		3.67		3,425		33.38		3.68		3,063		28.17		3.37
Direct/Indirect consumer	269		2.68		0.29		265		2.58		0.28		275		2.53		0.29
Other consumer	28		0.28		n/m		30		0.29		n/m		48		0.44		n/m
Total consumer	5,140		51.15		1.15		5,250		51.17		1.18		5,695		52.37		1.28
U.S. commercial ⁽³⁾	3,045		30.30		1.00		3,091		30.12		1.02		3,250		29.89		1.12
Non-U.S.commercial	751		7.47		0.79		801		7.81		0.82		830		7.63		0.91
Commercial real estate	952		9.47		1.56		953		9.29		1.59		949		8.73		1.60
Commercial lease financing	162		1.61		0.76		165		1.61		0.76		151		1.38		0.69
Total commercial	4,910		48.85		1.02		5,010		48.83		1.04		5,180		47.63		1.12
Allowance for loan and lease losses	10,050		100.00	%	1.08		10,260		100.00	%	1.11		10,875		100.00	%	1.20
Reserve for unfunded lending commitments	787						782						757
Allowance for credit losses	$	10,837					$	11,042					$	11,632

Asset Quality Indicators
Allowance for loan and lease losses/Total loans and leases ⁽²⁾			1.08	%					1.11	%					1.20	%
Allowance for loan and lease losses/Total nonperforming loans and leases⁽⁴⁾			170						161						160
Ratio of the allowance for loan and lease losses/Annualized net charge-offs			2.52						2.78						2.99

⁽¹⁾

Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans accounted for under the fair value option. Consumer loans accounted for under the fair value option include residential mortgage loans of $489 million, $523 million and $666 million and home equity loans of $359 million, $371 million and $369 million at June 30, 2018, March 31, 2018 and June 30, 2017, respectively. Commercial loans accounted for under the fair value option include U.S. commercial loans of $3.5 billion, $3.2 billion and $3.2 billion and non-U.S. commercial loans of $1.9 billion, $1.9 billion and $3.1 billion at June 30, 2018, March 31, 2018 and June 30, 2017, respectively.


⁽²⁾	Total loans and leases do not include loans accounted for under the fair value option of $6.2 billion, $6.0 billion and $7.3 billion at June 30, 2018, March 31, 2018 and June 30, 2017, respectively.


⁽³⁾	Includes allowance for loan and lease losses for U.S. small business commercial loans of $465 million, $446 million and $417 million at June 30, 2018, March 31, 2018 and June 30, 2017, respectively.

⁽⁴⁾

Allowance for loan and lease losses includes $4.0 billion, $4.0 billion and $3.8 billion allocated to products (primarily the Consumer Lending portfolios within Consumer Banking and purchased credit-impaired loans) that are excluded from nonperforming loans and leases at June 30, 2018, March 31, 2018 and June 30, 2017. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 102 percent, 98 percent and 104 percent at June 30, 2018, March 31, 2018 and June 30, 2017, respectively.

n/m = not meaningful

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	38



Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)

The Corporation evaluates its business based on a fully taxable-equivalent basis, a non-GAAP financial measure. Total revenue, net of interest expense, on a fully taxable-equivalent basis includes net interest income on a fully taxable-equivalent basis and noninterest income. The Corporation believes that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices. The Corporation presents related ratios and analyses (i.e., efficiency ratios and net interest yield) on a fully taxable-equivalent basis. To derive the fully taxable-equivalent basis, net interest income is adjusted to reflect tax-exempt income on an equivalent before-tax basis with a corresponding increase in income tax expense. For purposes of this calculation, the Corporation uses the federal statutory tax rate of 21 percent for the first and second quarters of 2018 and 35 percent for all prior periods. The efficiency ratio measures the costs expended to generate a dollar of revenue, and net interest yield measures the basis points the Corporation earns over the cost of funds.

The Corporation also evaluates its business based on the following ratios that utilize tangible equity, a non-GAAP financial measure. Tangible equity represents an adjusted shareholders’ equity or common shareholders’ equity amount which has been reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible common shareholders’ equity measures the Corporation’s earnings contribution as a percentage of adjusted average common shareholders’ equity. The tangible common equity ratio represents adjusted ending common shareholders’ equity divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible shareholders’ equity measures the Corporation’s earnings contribution as a percentage of adjusted average total shareholders’ equity. The tangible equity ratio represents adjusted ending shareholders’ equity divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Tangible book value per common share represents adjusted ending common shareholders’ equity divided by ending common shares outstanding. These measures are used to evaluate the Corporation’s use of equity. In addition, profitability, relationship and investment models all use return on average tangible shareholders’ equity as key measures to support our overall growth goals.

See the tables below and on page 40 for reconciliations of these non-GAAP financial measures to financial measures defined by GAAP for the six months ended June 30, 2018 and 2017 and the three months ended June 30, 2018, March 31, 2018, December 31, 2017, September 30, 2017 and June 30, 2017. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in understanding its results of operations and trends. Other companies may define or calculate supplemental financial data differently.



	Six Months Ended June 30						Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
	2018			2017			Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017

Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income	$	23,258		$	22,044		$	11,650		$	11,608		$	11,462		$	11,161		$	10,986
Fully taxable-equivalent adjustment	304			434			154			150			251			240			237
Net interest income on a fully taxable-equivalent basis	$	23,562		$	22,478		$	11,804		$	11,758		$	11,713		$	11,401		$	11,223

Reconciliation of total revenue, net of interest expense to total revenue, net of interest expense on a fully taxable-equivalent basis
Total revenue, net of interest expense	$	45,734		$	45,077		$	22,609		$	23,125		$	20,436		$	21,839		$	22,829
Fully taxable-equivalent adjustment	304			434			154			150			251			240			237
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	46,038		$	45,511		$	22,763		$	23,275		$	20,687		$	22,079		$	23,066

Reconciliation of income tax expense to income tax expense on a fully taxable-equivalent basis
Income tax expense	$	3,190		$	4,998		$	1,714		$	1,476		$	3,796		$	2,187		$	3,015
Fully taxable-equivalent adjustment	304			434			154			150			251			240			237
Income tax expense on a fully taxable-equivalent basis	$	3,494		$	5,432		$	1,868		$	1,626		$	4,047		$	2,427		$	3,252

Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
Common shareholders’ equity	$	242,009		$	244,127		$	241,313		$	242,713		$	250,838		$	249,214		$	245,756
Goodwill	(68,951		)	(69,616		)	(68,951		)	(68,951		)	(68,954		)	(68,969		)	(69,489		)
Intangible assets (excluding mortgage servicing rights)	(2,193		)	(2,833		)	(2,126		)	(2,261		)	(2,399		)	(2,549		)	(2,743		)
Related deferred tax liabilities	927			1,522			916			939			1,344			1,465			1,506
Tangible common shareholders’ equity	$	171,792		$	173,200		$	171,152		$	172,440		$	180,829		$	179,161		$	175,030

Reconciliation of average shareholders’ equity to average tangible shareholders’ equity
Shareholders’ equity	$	265,330		$	269,347		$	265,181		$	265,480		$	273,162		$	273,238		$	270,977
Goodwill	(68,951		)	(69,616		)	(68,951		)	(68,951		)	(68,954		)	(68,969		)	(69,489		)
Intangible assets (excluding mortgage servicing rights)	(2,193		)	(2,833		)	(2,126		)	(2,261		)	(2,399		)	(2,549		)	(2,743		)
Related deferred tax liabilities	927			1,522			916			939			1,344			1,465			1,506
Tangible shareholders’ equity	$	195,113		$	198,420		$	195,020		$	195,207		$	203,153		$	203,185		$	200,251

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	39



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(In millions, except per share information)
	Six Months Ended June 30						Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017
	2018			2017			Second Quarter 2018			First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017

Reconciliation of period-end common shareholders’ equity to period-end tangible common shareholders’ equity
Common shareholders’ equity	$	241,035		$	245,440		$	241,035		$	241,552		$	244,823		$	249,646		$	245,440
Goodwill	(68,951		)	(68,969		)	(68,951		)	(68,951		)	(68,951		)	(68,968		)	(68,969		)
Intangible assets (excluding mortgage servicing rights)	(2,043		)	(2,610		)	(2,043		)	(2,177		)	(2,312		)	(2,459		)	(2,610		)
Related deferred tax liabilities	900			1,471			900			920			943			1,435			1,471
Tangible common shareholders’ equity	$	170,941		$	175,332		$	170,941		$	171,344		$	174,503		$	179,654		$	175,332

Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity
Shareholders’ equity	$	264,216		$	270,660		$	264,216		$	266,224		$	267,146		$	271,969		$	270,660
Goodwill	(68,951		)	(68,969		)	(68,951		)	(68,951		)	(68,951		)	(68,968		)	(68,969		)
Intangible assets (excluding mortgage servicing rights)	(2,043		)	(2,610		)	(2,043		)	(2,177		)	(2,312		)	(2,459		)	(2,610		)
Related deferred tax liabilities	900			1,471			900			920			943			1,435			1,471
Tangible shareholders’ equity	$	194,122		$	200,552		$	194,122		$	196,016		$	196,826		$	201,977		$	200,552

Reconciliation of period-end assets to period-end tangible assets
Assets	$	2,291,670		$	2,254,714		$	2,291,670		$	2,328,478		$	2,281,234		$	2,284,174		$	2,254,714
Goodwill	(68,951		)	(68,969		)	(68,951		)	(68,951		)	(68,951		)	(68,968		)	(68,969		)
Intangible assets (excluding mortgage servicing rights)	(2,043		)	(2,610		)	(2,043		)	(2,177		)	(2,312		)	(2,459		)	(2,610		)
Related deferred tax liabilities	900			1,471			900			920			943			1,435			1,471
Tangible assets	$	2,221,576		$	2,184,606		$	2,221,576		$	2,258,270		$	2,210,914		$	2,214,182		$	2,184,606

Book value per share of common stock
Common shareholders’ equity	$	241,035		$	245,440		$	241,035		$	241,552		$	244,823		$	249,646		$	245,440
Ending common shares issued and outstanding	10,012.7			9,878.1			10,012.7			10,175.9			10,287.3			10,457.5			9,878.1
Book value per share of common stock	$	24.07		$	24.85		$	24.07		$	23.74		$	23.80		$	23.87		$	24.85

Tangible book value per share of common stock
Tangible common shareholders’ equity	$	170,941		$	175,332		$	170,941		$	171,344		$	174,503		$	179,654		$	175,332
Ending common shares issued and outstanding	10,012.7			9,878.1			10,012.7			10,175.9			10,287.3			10,457.5			9,878.1
Tangible book value per share of common stock	$	17.07		$	17.75		$	17.07		$	16.84		$	16.96		$	17.18		$	17.75

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	40