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)

9 Months Ended

Sep. 30, 2011



Business Segments
Three Months Ended September 30
	Total Corporation ⁽¹⁾						Deposits						Card Services
(Dollars in millions)	2011			2010			2011			2010			2011			2010
Net interest income ⁽²⁾	$	10,739		$	12,717		$	1,987		$	1,954		$	2,823		$	3,500
Noninterest income	17,963			14,265			1,132			1,192			1,684			1,877
Total revenue, net of interest expense	28,702			26,982			3,119			3,146			4,507			5,377
Provision for credit losses	3,407			5,396			52			62			1,037			3,066
Amortization of intangibles	377			426			39			49			150			167
Goodwill impairment	—			10,400			—			—			—			10,400
Other noninterest expense	17,236			16,390			2,588			2,725			1,308			1,267
Income (loss) before income taxes	7,682			(5,630		)	440			310			2,012			(9,523		)
Income tax expense ⁽²⁾	1,450			1,669			164			112			748			321
Net income (loss)	$	6,232		$	(7,299	)	$	276		$	198		$	1,264		$	(9,844	)
Period-end total assets	$	2,219,628		$	2,339,660		$	448,906		$	434,854		$	128,759		$	140,257

	Consumer Real Estate Services						Global Commercial Banking						Global Banking & Markets
	2011			2010			2011			2010			2011			2010
Net interest income ⁽²⁾	$	923		$	1,339		$	1,743		$	1,853		$	1,846		$	1,884
Noninterest income	1,899			2,273			790			780			3,376			5,189
Total revenue, net of interest expense	2,822			3,612			2,533			2,633			5,222			7,073
Provision for credit losses	918			1,302			(150		)	556			15			(157		)
Amortization of intangibles	—			7			15			18			32			31
Other noninterest expense	3,852			2,916			1,003			1,043			4,448			4,280
Income (loss) before income taxes	(1,948		)	(613		)	1,665			1,016			727			2,919
Income tax expense (benefit) ⁽²⁾	(811		)	(221		)	615			372			1,029			1,451
Net income (loss)	$	(1,137	)	$	(392	)	$	1,050		$	644		$	(302	)	$	1,468
Period-end total assets	$	188,769		$	214,498		$	284,897		$	304,543		$	686,035		$	745,863

	Global Wealth & Investment Management						All Other
	2011			2010			2011			2010
Net interest income ⁽²⁾	$	1,411		$	1,345		$	6		$	842
Noninterest income	2,819			2,553			6,263			401
Total revenue, net of interest expense	4,230			3,898			6,269			1,243
Provision for credit losses	162			127			1,373			440
Amortization of intangibles	108			113			33			41
Other noninterest expense	3,408			3,232			629			927
Income (loss) before income taxes	552			426			4,234			(165		)
Income tax expense (benefit) ⁽²⁾	205			157			(500		)	(523		)
Net income	$	347		$	269		$	4,734		$	358
Period-end total assets	$	280,686		$	266,489		$	201,576		$	233,156


⁽¹⁾	There were no material intersegment revenues.


⁽²⁾	FTE basis



Business Segments
Nine Months Ended September 30
	Total Corporation ⁽¹⁾						Deposits						Card Services
(Dollars in millions)	2011			2010			2011			2010			2011			2010
Net interest income ⁽²⁾	$	34,629		$	39,984		$	6,473		$	6,272		$	8,743		$	11,002
Noninterest income	34,651			48,738			3,136			4,287			5,342			5,982
Total revenue, net of interest expense	69,280			88,722			9,609			10,559			14,085			16,984
Provision for credit losses	10,476			23,306			116			160			1,934			9,116
Amortization of intangibles	1,144			1,311			117			147			451			502
Goodwill impairment	2,603			10,400			—			—			—			10,400
Other noninterest expense	57,005			50,533			7,718			7,779			4,181			3,993
Income (loss) before income taxes	(1,948		)	3,172			1,658			2,473			7,519			(7,027		)
Income tax expense (benefit) ⁽²⁾	(1,403		)	4,166			607			911			2,752			1,242
Net income (loss)	$	(545	)	$	(994	)	$	1,051		$	1,562		$	4,767		$	(8,269	)
Period-end total assets	$	2,219,628		$	2,339,660		$	448,906		$	434,854		$	128,759		$	140,257

	Consumer Real Estate Services						Global Commercial Banking						Global Banking & Markets
	2011			2010			2011			2010			2011			2010
Net interest income ⁽²⁾	$	2,398		$	3,538		$	5,420		$	6,143		$	5,668		$	6,011
Noninterest income (loss)	(8,828		)	6,311			2,577			2,468			14,228			16,573
Total revenue, net of interest expense	(6,430		)	9,849			7,997			8,611			19,896			22,584
Provision for credit losses	3,523			7,292			(488		)	2,115			(269		)	(54		)
Amortization of intangibles	11			32			44			55			89			93
Goodwill impairment	2,603			—			—			—			—			—
Other noninterest expense	14,683			8,874			3,151			3,013			13,803			13,120
Income (loss) before income taxes	(27,250		)	(6,349		)	5,290			3,428			6,273			9,425
Income tax expense (benefit) ⁽²⁾	(9,180		)	(2,339		)	1,936			1,263			2,873			3,797
Net income (loss)	$	(18,070	)	$	(4,010	)	$	3,354		$	2,165		$	3,400		$	5,628
Period-end total assets	$	188,769		$	214,498		$	284,897		$	304,543		$	686,035		$	745,863

	Global Wealth & Investment Management						All Other
	2011			2010			2011			2010
Net interest income ⁽²⁾	$	4,551		$	4,252		$	1,376		$	2,766
Noninterest income	8,661			7,876			9,535			5,241
Total revenue, net of interest expense	13,212			12,128			10,911			8,007
Provision for credit losses	280			491			5,380			4,186
Amortization of intangibles	331			346			101			136
Other noninterest expense	10,415			9,391			3,054			4,363
Income (loss) before income taxes	2,186			1,900			2,376			(678		)
Income tax expense (benefit) ⁽²⁾	800			878			(1,191		)	(1,586		)
Net income	$	1,386		$	1,022		$	3,567		$	908
Period-end total assets	$	280,686		$	266,489		$	201,576		$	233,156


⁽¹⁾	There were no material intersegment revenues.


⁽²⁾	FTE basis

Reconciliation of Consolidated Net Income of Business Segments



	Three Months Ended September 30						Nine Months Ended September 30
(Dollars in millions)	2011			2010			2011			2010
Segments’ total revenue, net of interest expense ⁽¹⁾	$	22,433		$	25,739		$	58,369		$	80,715
Adjustments:
ALM activities	5,286			690			6,193			2,401
Equity investment income	1,382			266			3,930			3,050
Liquidating businesses	519			687			2,284			4,052
FTE basis adjustment	(249		)	(282		)	(714		)	(900		)
Other	(918		)	(400		)	(1,496		)	(1,496		)
Consolidated revenue, net of interest expense	$	28,453		$	26,700		$	68,566		$	87,822

Segments’ net income (loss)	$	1,498		$	(7,657	)	$	(4,112	)	$	(1,902	)
Adjustments, net-of-tax:
ALM activities	2,579			117			633			(845		)
Equity investment income	871			168			2,476			1,922
Liquidating businesses	(220		)	52			—			526
Merger and restructuring charges	111			265			338			914
Other	1,393			(244		)	120			(1,609		)
Consolidated net income (loss)	$	6,232		$	(7,299	)	$	(545	)	$	(994	)


⁽¹⁾	FTE basis

Reconciliation of Consolidated Total Assets of Business Segments



	September 30
(Dollars in millions)	2011			2010
Segments’ total assets	$	2,018,052		$	2,106,504
Adjustments:
ALM activities, including securities portfolio	653,131			603,242
Equity investments	14,659			42,032
Liquidating businesses	38,133			42,111
Elimination of segment excess asset allocations to match liabilities	(623,902		)	(612,451		)
Other	119,555			158,222
Consolidated total assets	$	2,219,628		$	2,339,660

- 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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