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

Annual report pursuant to Section 13 and 15(d)

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- Audit Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Principles (Policies)
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Uncategorized
- Uncategorized Items - bac-20221231.htm

Derivatives - Derivatives Designated as Cash Flow and Net Investment Hedges (Details)

v3.22.4

Derivatives - Derivatives Designated as Cash Flow and Net Investment Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Losses excluded from effectiveness testing and recognized in other income	$ 38	$ 123	$ 11
Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Recognized in Accumulated OCI on Derivatives	(13,709)	(2,842)	1,089
Gains (Losses) in Income Reclassified from Accumulated OCI	(298)	229	14
Interest rate risk on variable-rate portfolios \| Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Recognized in Accumulated OCI on Derivatives	(13,492)	(2,686)	763
Gains (Losses) in Income Reclassified from Accumulated OCI	(338)	148	(7)
Price risk on forecasted MBS purchases \| Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Recognized in Accumulated OCI on Derivatives	(129)	(249)	241
Gains (Losses) in Income Reclassified from Accumulated OCI	11	26	9
Price risk on certain compensation plans \| Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Recognized in Accumulated OCI on Derivatives	(88)	93	85
Gains (Losses) in Income Reclassified from Accumulated OCI	29	55	12
Foreign exchange risk \| Net investment hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Recognized in Accumulated OCI on Derivatives	1,710	1,451	(834)
Gains (Losses) in Income Reclassified from Accumulated OCI	$ 3	$ 23	$ 4

- Definition

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The net gain (loss) relating to components of the gain (loss) on the cash flow hedging instrument excluded from the assessment of cash flow hedge effectiveness. Recognized in earnings.

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Amount, after tax and before reclassification, of gain (loss) from derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness.

+ References

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-Publisher FASB
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Amount, after tax, of reclassification of gain (loss) from accumulated other comprehensive income (AOCI) for derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness.

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