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, 2012



Business Segments
At and for the Six Months Ended June 30
	Total Corporation ⁽¹⁾					Consumer & Business Banking						Consumer Real Estate Services
(Dollars in millions)	2012		2011			2012			2011			2012			2011
Net interest income (FTE basis)	$	20,835	$	23,890		$	9,784		$	11,150		$	1,489		$	1,475
Noninterest income (loss)	23,852		16,688			4,964			5,997			3,706			(10,727		)
Total revenue, net of interest expense (FTE basis)	44,687		40,578			14,748			17,147			5,195			(9,252		)
Provision for credit losses	4,191		7,069			2,008			1,061			693			2,605
Amortization of intangibles	640		767			316			382			—			11
Goodwill impairment	—		2,603			—			—			—			2,603
Other noninterest expense	35,549		39,769			8,290			8,556			7,461			10,788
Income (loss) before income taxes	4,307		(9,630		)	4,134			7,148			(2,959		)	(25,259		)
Income tax expense (benefit) (FTE basis)	1,191		(2,853		)	1,523			2,604			(1,046		)	(8,353		)
Net income (loss)	$	3,116	$	(6,777	)	$	2,611		$	4,544		$	(1,913	)	$	(16,906	)
Period-end total assets	$	2,160,854	$	2,261,319		$	537,647		$	521,823		$	147,638		$	185,398

						Global Banking						Global Markets
						2012			2011			2012			2011
Net interest income (FTE basis)						$	4,583		$	4,858		$	1,448		$	1,894
Noninterest income						4,152			4,502			6,110			7,791
Total revenue, net of interest expense (FTE basis)						8,735			9,360			7,558			9,685
Provision for credit losses						(351		)	(681		)	(34		)	(41		)
Amortization of intangibles						40			50			31			33
Other noninterest expense						4,302			4,481			5,756			6,343
Income before income taxes						4,744			5,510			1,805			3,350
Income tax expense (FTE basis)						1,748			2,006			545			1,044
Net income						$	2,996		$	3,504		$	1,260		$	2,306
Period-end total assets						$	340,559		$	340,535		$	561,815		$	561,361

						Global Wealth & Investment Management						All Other
						2012			2011			2012			2011
Net interest income (FTE basis)						$	3,024		$	3,143		$	507		$	1,370
Noninterest income (loss)						5,653			5,848			(733		)	3,277
Total revenue, net of interest expense (FTE basis)						8,677			8,991			(226		)	4,647
Provision for credit losses						93			118			1,782			4,007
Amortization of intangibles						212			223			41			68
Other noninterest expense						6,646			6,990			3,094			2,611
Income (loss) before income taxes						1,726			1,660			(5,143		)	(2,039		)
Income tax expense (benefit) (FTE basis)						636			605			(2,215		)	(759		)
Net income (loss)						$	1,090		$	1,055		$	(2,928	)	$	(1,280	)
Period-end total assets						$	277,988		$	284,504		$	295,207		$	367,698


⁽¹⁾	There were no material intersegment revenues.

The following tables present total revenue, net of interest expense, on a FTE basis, and net income (loss) for the three and six months ended June 30, 2012 and 2011, and total assets at June 30, 2012 and 2011 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)	2012		2011			2012			2011			2012			2011
Net interest income (FTE basis)	$	9,782	$	11,493		$	4,704		$	5,549		$	714		$	579
Noninterest income (loss)	12,420		1,990			2,622			3,132			1,807			(11,894		)
Total revenue, net of interest expense (FTE basis)	22,202		13,483			7,326			8,681			2,521			(11,315		)
Provision for credit losses	1,773		3,255			1,131			400			186			1,507
Amortization of intangibles	321		382			158			191			—			4
Goodwill impairment	—		2,603			—			—			—			2,603
Other noninterest expense	16,727		19,871			4,201			4,186			3,556			6,018
Income (loss) before income taxes	3,381		(12,628		)	1,836			3,904			(1,221		)	(21,447		)
Income tax expense (benefit) (FTE basis)	918		(3,802		)	680			1,402			(453		)	(6,941		)
Net income (loss)	$	2,463	$	(8,826	)	$	1,156		$	2,502		$	(768	)	$	(14,506	)
Period-end total assets	$	2,160,854	$	2,261,319		$	537,647		$	521,823		$	147,638		$	185,398

						Global Banking						Global Markets
						2012			2011			2012			2011
Net interest income (FTE basis)						$	2,184		$	2,375		$	650		$	874
Noninterest income						2,101			2,284			2,715			3,539
Total revenue, net of interest expense (FTE basis)						4,285			4,659			3,365			4,413
Provision for credit losses						(113		)	(557		)	(14		)	(8		)
Amortization of intangibles						20			25			16			16
Other noninterest expense						2,145			2,196			2,695			3,247
Income before income taxes						2,233			2,995			668			1,158
Income tax expense (FTE basis)						827			1,074			206			247
Net income						$	1,406		$	1,921		$	462		$	911
Period-end total assets						$	340,559		$	340,535		$	561,815		$	561,361

						Global Wealth & Investment Management						All Other
						2012			2011			2012			2011
Net interest income (FTE basis)						$	1,446		$	1,573		$	84		$	543
Noninterest income						2,871			2,922			304			2,007
Total revenue, net of interest expense (FTE basis)						4,317			4,495			388			2,550
Provision for credit losses						47			72			536			1,841
Amortization of intangibles						106			112			21			34
Other noninterest expense						3,302			3,512			828			712
Income (loss) before income taxes						862			799			(997		)	(37		)
Income tax expense (benefit) (FTE basis)						319			286			(661		)	130
Net income (loss)						$	543		$	513		$	(336	)	$	(167	)
Period-end total assets						$	277,988		$	284,504		$	295,207		$	367,698


⁽¹⁾	There were no material intersegment revenues.

Reconciliation of Consolidated Total Assets of Business Segments

The tables below present a reconciliation of the five business segments’ total revenue, net of interest expense, on a FTE basis, and net income to the Corporation's Consolidated Statement of Income, and total assets to the Corporation's Consolidated Balance Sheet. The adjustments presented in the following tables 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)	2012			2011			2012			2011
Segments’ total revenue, net of interest expense (FTE basis)	$	21,814		$	10,933		$	44,913		$	35,931
Adjustments:
ALM activities	477			1,144			(692		)	908
Equity investment income (loss)	(63		)	1,139			354			2,554
Liquidating businesses	539			746			902			1,765
FTE basis adjustment	(234		)	(247		)	(441		)	(465		)
Other	(565		)	(479		)	(790		)	(580		)
Consolidated revenue, net of interest expense	$	21,968		$	13,236		$	44,246		$	40,113

Segments’ net income (loss)	$	2,799		$	(8,659	)	$	6,044		$	(5,497	)
Adjustments, net-of-taxes:
ALM activities	(229		)	(540		)	(2,053		)	(1,954		)
Equity investment income (loss)	(40		)	718			223			1,609
Liquidating businesses	153			68			211			175
Merger and restructuring charges	—			(101		)	—			(228		)
Other	(220		)	(312		)	(1,309		)	(882		)
Consolidated net income (loss)	$	2,463		$	(8,826	)	$	3,116		$	(6,777	)

							June 30
							2012			2011
Segments’ total assets							$	1,865,647		$	1,893,621
Adjustments:
ALM activities, including securities portfolio							628,228			643,037
Equity investments							5,451			31,055
Liquidating businesses							27,259			41,208
Elimination of segment excess asset allocations to match liabilities							(526,363		)	(502,284		)
Other							160,632			154,682
Consolidated total assets							$	2,160,854		$	2,261,319

- 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.

+ References + Details