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, 2017

Schedule of Segment Reporting Information, by Segment

The tables below present net income (loss) and the components thereto (with net interest income on an FTE basis) for the three and six months ended June 30, 2017 and 2016, and total assets at June 30, 2017 and 2016 for each business segment, as well as All Other, including a reconciliation of the four business segments’ total revenue, net of interest expense, on an FTE basis, and net income to the Consolidated Statement of Income, and total assets to the Consolidated Balance Sheet.




Results of Business Segments and All Other

At and for the three months ended June 30	Total Corporation⁽¹⁾					Consumer Banking
(Dollars in millions)	2017		2016			2017			2016
Net interest income (FTE basis)	$	11,223	$	10,341		$	5,960		$	5,207
Noninterest income	11,843		11,168			2,548			2,588
Total revenue, net of interest expense (FTE basis)	23,066		21,509			8,508			7,795
Provision for credit losses	726		976			834			726
Noninterest expense	13,726		13,493			4,409			4,418
Income before income taxes (FTE basis)	8,614		7,040			3,265			2,651
Income tax expense (FTE basis)	3,345		2,257			1,233			977
Net income	$	5,269	$	4,783		$	2,032		$	1,674
Period-end total assets	$	2,254,529	$	2,186,966		$	735,176		$	668,464

	Global Wealth & Investment Management					Global Banking
	2017		2016			2017			2016
Net interest income (FTE basis)	$	1,597	$	1,403		$	2,711		$	2,425
Noninterest income	3,098		3,022			2,328			2,271
Total revenue, net of interest expense (FTE basis)	4,695		4,425			5,039			4,696
Provision for credit losses	11		14			15			199
Noninterest expense	3,392		3,285			2,154			2,125
Income before income taxes (FTE basis)	1,292		1,126			2,870			2,372
Income tax expense (FTE basis)	488		421			1,084			874
Net income	$	804	$	705		$	1,786		$	1,498
Period-end total assets	$	274,746	$	286,846		$	410,580		$	397,591

	Global Markets					All Other
	2017		2016			2017			2016
Net interest income (FTE basis)	$	864	$	1,088		$	91		$	218
Noninterest income	3,082		3,221			787			66
Total revenue, net of interest expense (FTE basis)	3,946		4,309			878			284
Provision for credit losses	25		(5		)	(159		)	42
Noninterest expense	2,649		2,583			1,122			1,082
Income (loss) before income taxes (FTE basis)	1,272		1,731			(85		)	(840		)
Income tax expense (benefit) (FTE basis)	442		618			98			(633		)
Net income (loss)	$	830	$	1,113		$	(183	)	$	(207	)
Period-end total assets	$	633,193	$	577,428		$	200,834		$	256,637


⁽¹⁾	There were no material intersegment revenues.




Results of Business Segments and All Other

At and for the six months ended June 30	Total Corporation⁽¹⁾				Consumer Banking
(Dollars in millions)	2017		2016		2017			2016
Net interest income (FTE basis)	$	22,478	$	21,041	$	11,741		$	10,535
Noninterest income	23,033		21,473		5,051			5,117
Total revenue, net of interest expense (FTE basis)	45,511		42,514		16,792			15,652
Provision for credit losses	1,561		1,973		1,672			1,257
Noninterest expense	28,574		28,309		8,818			8,959
Income before income taxes (FTE basis)	15,376		12,232		6,302			5,436
Income tax expense (FTE basis)	5,251		3,977		2,378			2,000
Net income	$	10,125	$	8,255	$	3,924		$	3,436
Period-end total assets	$	2,254,529	$	2,186,966	$	735,176		$	668,464

	Global Wealth & Investment Management				Global Banking
	2017		2016		2017			2016
Net interest income (FTE basis)	$	3,157	$	2,916	$	5,486		$	4,969
Noninterest income	6,130		5,978		4,508			4,181
Total revenue, net of interest expense (FTE basis)	9,287		8,894		9,994			9,150
Provision for credit losses	34		39		32			752
Noninterest expense	6,722		6,555		4,317			4,299
Income before income taxes (FTE basis)	2,531		2,300		5,645			4,099
Income tax expense (FTE basis)	955		853		2,130			1,509
Net income	$	1,576	$	1,447	$	3,515		$	2,590
Period-end total assets	$	274,746	$	286,846	$	410,580		$	397,591

	Global Markets				All Other
	2017		2016		2017			2016
Net interest income (FTE basis)	$	1,913	$	2,272	$	181		$	349
Noninterest income	6,741		5,987		603			210
Total revenue, net of interest expense (FTE basis)	8,654		8,259		784			559
Provision for credit losses	8		4		(185		)	(79		)
Noninterest expense	5,406		5,032		3,311			3,464
Income (loss) before income taxes (FTE basis)	3,240		3,223		(2,342		)	(2,826		)
Income tax expense (benefit) (FTE basis)	1,113		1,138		(1,325		)	(1,523		)
Net income (loss)	$	2,127	$	2,085	$	(1,017	)	$	(1,303	)
Period-end total assets	$	633,193	$	577,428	$	200,834		$	256,637




Business Segment Reconciliations
	Three Months Ended June 30						Six Months Ended June 30
	2017			2016			2017			2016
Segments’ total revenue, net of interest expense (FTE basis)	$	22,188		$	21,225		$	44,727		$	41,955
Adjustments ⁽²⁾:
ALM activities	104			137			59			31
Liquidating businesses and other	774			147			725			528
FTE basis adjustment	(237		)	(223		)	(434		)	(438		)
Consolidated revenue, net of interest expense	$	22,829		$	21,286		$	45,077		$	42,076
Segments’ total net income	5,452			4,990			11,142			9,558
Adjustments, net-of-taxes ⁽²⁾:
ALM activities	(86		)	(36		)	(265		)	(275		)
Liquidating businesses and other	(97		)	(171		)	(752		)	(1,028		)
Consolidated net income	$	5,269		$	4,783		$	10,125		$	8,255

							June 30
							2017			2016
Segments’ total assets							$	2,053,695		$	1,930,329
Adjustments ⁽²⁾:
ALM activities, including securities portfolio							620,502			619,417
Liquidating businesses and other							97,993			129,560
Elimination of segment asset allocations to match liabilities							(517,661		)	(492,340		)
Consolidated total assets							$	2,254,529		$	2,186,966


⁽¹⁾	There were no material intersegment revenues.


⁽²⁾	Adjustments include consolidated income, expense and asset amounts not specifically allocated to individual business segments.