Bank of America Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Performance by Geographical Area

Performance by Geographical Area

12 Months Ended

Dec. 31, 2019

Segments, Geographical Areas [Abstract]

The Corporation’s operations are highly integrated with operations in both U.S. and non-U.S. markets. The non-U.S. business activities are largely conducted in Europe, the Middle East and Africa and in Asia. The Corporation identifies its geographic performance based on the business unit structure used to manage the capital or expense deployed in the region as applicable. This

requires certain judgments related to the allocation of revenue so that revenue can be appropriately matched with the related capital or expense deployed in the region. Certain asset, liability, income and expense amounts have been allocated to arrive at total assets, total revenue, net of interest expense, income before income taxes and net income by geographic area as presented below.




(Dollars in millions)		Total Assets at Year End⁽¹⁾		Total Revenue, Net of Interest Expense⁽²⁾		Income Before Income Taxes		Net Income
U.S. ⁽³⁾	2019	$	2,122,734	$	81,236	$	30,699	$	25,937
	2018	2,051,182		80,777		31,904		26,407
	2017			74,604		25,108		15,550
Asia	2019	102,440		3,491		765		570
	2018	94,865		3,507		865		520
	2017			3,405		676		464
Europe, Middle East and Africa	2019	178,889		5,310		921		672
	2018	185,285		5,632		1,543		1,126
	2017			7,907		2,990		1,926
Latin America and the Caribbean	2019	30,016		1,207		369		251
	2018	23,175		1,104		272		94
	2017			1,210		439		292
Total Non-U.S.	2019	311,345		10,008		2,055		1,493
	2018	303,325		10,243		2,680		1,740
	2017			12,522		4,105		2,682
Total Consolidated	2019	$	2,434,079	$	91,244	$	32,754	$	27,430
	2018	2,354,507		91,020		34,584		28,147
	2017			87,126		29,213		18,232


⁽¹⁾	Total assets include long-lived assets, which are primarily located in the U.S.


⁽²⁾	There were no material intercompany revenues between geographic regions for any of the periods presented.

⁽³⁾

Substantially reflects the U.S.