Bank of America Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information (Tables)

Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2014

Schedule of Segment Reporting Information, by Segment

The following tables present net income and the components thereto (with net interest income on a FTE basis) for the three and six months ended June 30, 2014 and 2013, and total assets at June 30, 2014 and 2013 for each business segment, as well as All Other.



Business Segments
At and for the Three Months Ended June 30
	Total Corporation ⁽¹⁾				Consumer & Business Banking						Consumer Real Estate Services
(Dollars in millions)	2014		2013		2014			2013			2014			2013
Net interest income (FTE basis)	$	10,226	$	10,771	$	4,929		$	5,034		$	697		$	699
Noninterest income	11,734		12,178		2,444			2,400			693			1,416
Total revenue, net of interest expense (FTE basis)	21,960		22,949		7,373			7,434			1,390			2,115
Provision for credit losses	411		1,211		534			967			(20		)	291
Amortization of intangibles	235		274		98			127			—			—
Other noninterest expense	18,306		15,744		3,902			4,057			5,902			3,383
Income (loss) before income taxes	3,008		5,720		2,839			2,283			(4,492		)	(1,559		)
Income tax expense (benefit) (FTE basis)	717		1,708		1,051			892			(1,690		)	(629		)
Net income (loss)	$	2,291	$	4,012	$	1,788		$	1,391		$	(2,802	)	$	(930	)
Period-end total assets	$	2,170,557	$	2,123,320	$	612,200		$	587,655		$	107,650		$	124,032

					Global Wealth & Investment Management						Global Banking
					2014			2013			2014			2013
Net interest income (FTE basis)					$	1,485		$	1,505		$	2,239		$	2,252
Noninterest income					3,104			2,994			1,940			1,886
Total revenue, net of interest expense (FTE basis)					4,589			4,499			4,179			4,138
Provision for credit losses					(8		)	(15		)	132			163
Amortization of intangibles					94			99			12			16
Other noninterest expense					3,353			3,171			1,887			1,833
Income before income taxes					1,150			1,244			2,148			2,126
Income tax expense (FTE basis)					426			485			795			829
Net income					$	724		$	759		$	1,353		$	1,297
Period-end total assets					$	265,581		$	263,867		$	407,367		$	334,167

					Global Markets						All Other
					2014			2013			2014			2013
Net interest income (FTE basis)					$	952		$	1,009		$	(76	)	$	272
Noninterest income					3,631			3,185			(78		)	297
Total revenue, net of interest expense (FTE basis)					4,583			4,194			(154		)	569
Provision for credit losses					19			(16		)	(246		)	(179		)
Amortization of intangibles					16			16			15			16
Other noninterest expense					2,846			2,754			416			546
Income (loss) before income taxes					1,702			1,440			(339		)	186
Income tax expense (benefit) (FTE basis)					601			478			(466		)	(347		)
Net income					$	1,101		$	962		$	127		$	533
Period-end total assets					$	610,395		$	608,760		$	167,364		$	204,839


⁽¹⁾	There were no material intersegment revenues.



Business Segments
At and for the Six Months Ended June 30
	Total Corporation ⁽¹⁾				Consumer & Business Banking					Consumer Real Estate Services
(Dollars in millions)	2014		2013		2014		2013			2014			2013
Net interest income (FTE basis)	$	20,512	$	21,646	$	9,880	$	10,047		$	1,398		$	1,442
Noninterest income	24,215		24,711		4,931		4,799			1,184			2,985
Total revenue, net of interest expense (FTE basis)	44,727		46,357		14,811		14,846			2,582			4,427
Provision for credit losses	1,420		2,924		1,346		1,919			5			626
Amortization of intangibles	474		550		199		254			—			—
Other noninterest expense	40,305		34,968		7,764		8,095			14,031			8,788
Income (loss) before income taxes	2,528		7,915		5,502		4,578			(11,454		)	(4,987		)
Income tax expense (benefit) (FTE basis)	513		2,420		2,048		1,745			(3,625		)	(1,901		)
Net income (loss)	$	2,015	$	5,495	$	3,454	$	2,833		$	(7,829	)	$	(3,086	)
Period-end total assets	$	2,170,557	$	2,123,320	$	612,200	$	587,655		$	107,650		$	124,032

					Global Wealth & Investment Management					Global Banking
					2014		2013			2014			2013
Net interest income (FTE basis)					$	2,970	$	3,101		$	4,541		$	4,411
Noninterest income					6,166		5,819			3,907			3,757
Total revenue, net of interest expense (FTE basis)					9,136		8,920			8,448			8,168
Provision for credit losses					15		7			397			312
Amortization of intangibles					188		198			24			32
Other noninterest expense					6,618		6,325			3,903			3,653
Income before income taxes					2,315		2,390			4,124			4,171
Income tax expense (FTE basis)					862		911			1,535			1,590
Net income					$	1,453	$	1,479		$	2,589		$	2,581
Period-end total assets					$	265,581	$	263,867		$	407,367		$	334,167

					Global Markets					All Other
					2014		2013			2014			2013
Net interest income (FTE basis)					$	1,949	$	2,117		$	(226	)	$	528
Noninterest income					7,646		6,856			381			495
Total revenue, net of interest expense (FTE basis)					9,595		8,973			155			1,023
Provision for credit losses					38		(11		)	(381		)	71
Amortization of intangibles					32		33			31			33
Other noninterest expense					5,907		5,810			2,082			2,297
Income (loss) before income taxes					3,618		3,141			(1,577		)	(1,378		)
Income tax expense (benefit) (FTE basis)					1,209		1,067			(1,516		)	(992		)
Net income (loss)					$	2,409	$	2,074		$	(61	)	$	(386	)
Period-end total assets					$	610,395	$	608,760		$	167,364		$	204,839


⁽¹⁾	There were no material intersegment revenues.

^[1]

Reconciliation of Assets from Segment to Consolidated

The table below presents a reconciliation of the five business segments' total revenue, net of interest expense, on a FTE basis, and net income to the Consolidated Statement of Income, and total assets to the Consolidated Balance Sheet. The adjustments presented in the table below include consolidated income, expense and asset amounts not specifically allocated to individual business segments.



Business Segment Reconciliations
	Three Months Ended June 30						Six Months Ended June 30
(Dollars in millions)	2014			2013			2014			2013
Segments' total revenue, net of interest expense (FTE basis)	$	22,114		$	22,380		$	44,572		$	45,334
Adjustments:
ALM activities	175			(103		)	258			(332		)
Equity investment income	56			576			730			1,096
Liquidating businesses and other	(385		)	96			(833		)	259
FTE basis adjustment	(213		)	(222		)	(414		)	(433		)
Consolidated revenue, net of interest expense	$	21,747		$	22,727		$	44,313		$	45,924

Segments' net income	$	2,164		$	3,479		$	2,076		$	5,881
Adjustments, net of taxes:
ALM activities	(6		)	(172		)	307			(629		)
Equity investment income	35			363			456			690
Liquidating businesses and other	98			342			(824		)	(447		)
Consolidated net income	$	2,291		$	4,012		$	2,015		$	5,495

							June 30
							2014			2013
Segments' total assets							$	2,003,193		$	1,918,481
Adjustments:
ALM activities, including securities portfolio							694,042			656,243
Equity investments							1,963			4,187
Liquidating businesses and other							80,145			73,413
Elimination of segment asset allocations to match liabilities							(608,786		)	(529,004		)
Consolidated total assets							$	2,170,557		$	2,123,320

^[1]

[1]	There were no material intersegment revenues.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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