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, 2012



Business Segments
At and for the Nine Months Ended September 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)	$	31,002	$	34,629		$	14,436		$	16,299		$	2,218		$	2,398
Noninterest income (loss)	34,342		34,651			7,383			8,975			6,073			(8,828		)
Total revenue, net of interest expense (FTE basis)	65,344		69,280			21,819			25,274			8,291			(6,430		)
Provision for credit losses	5,965		10,476			2,978			2,193			957			3,523
Amortization of intangibles	955		1,144			472			573			—			11
Goodwill impairment	—		2,603			—			—			—			2,603
Other noninterest expense	52,778		57,005			12,200			12,718			11,678			14,608
Income (loss) before income taxes	5,646		(1,948		)	6,169			9,790			(4,344		)	(27,175		)
Income tax expense (benefit) (FTE basis)	2,190		(1,403		)	2,276			3,586			(1,558		)	(9,152		)
Net income (loss)	$	3,456	$	(545	)	$	3,893		$	6,204		$	(2,786	)	$	(18,023	)
Period-end total assets	$	2,166,162	$	2,219,628		$	540,260		$	520,125		$	139,366		$	188,769

						Global Banking						Global Markets
						2012			2011			2012			2011
Net interest income (FTE basis)						$	6,847		$	7,181		$	2,294		$	2,819
Noninterest income						6,035			6,130			8,370			10,161
Total revenue, net of interest expense (FTE basis)						12,882			13,311			10,664			12,980
Provision (benefit) for credit losses						(283		)	(862		)	(13		)	(38		)
Amortization of intangibles						61			79			48			49
Other noninterest expense						6,303			6,669			8,285			9,294
Income before income taxes						6,801			7,425			2,344			3,675
Income tax expense (FTE basis)						2,509			2,716			1,444			1,922
Net income						$	4,292		$	4,709		$	900		$	1,753
Period-end total assets						$	355,417		$	341,100		$	583,203		$	552,772

						Global Wealth & Investment Management						All Other
						2012			2011			2012			2011
Net interest income (FTE basis)						$	4,482		$	4,555		$	725		$	1,377
Noninterest income (loss)						8,472			8,674			(1,991		)	9,539
Total revenue, net of interest expense (FTE basis)						12,954			13,229			(1,266		)	10,916
Provision for credit losses						154			280			2,172			5,380
Amortization of intangibles						313			331			61			101
Other noninterest expense						9,888			10,371			4,424			3,345
Income (loss) before income taxes						2,599			2,247			(7,923		)	2,090
Income tax expense (benefit) (FTE basis)						960			823			(3,441		)	(1,298		)
Net income (loss)						$	1,639		$	1,424		$	(4,482	)	$	3,388
Period-end total assets						$	283,949		$	280,897		$	263,967		$	335,965


⁽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 nine months ended September 30, 2012 and 2011, and total assets at September 30, 2012 and 2011 for each business segment, as well as All Other.



Business Segments
At and for the Three Months Ended September 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)	$	10,167	$	10,739	$	4,651	$	5,149		$	729		$	922
Noninterest income	10,490		17,963		2,419		2,978			2,367			1,900
Total revenue, net of interest expense (FTE basis)	20,657		28,702		7,070		8,127			3,096			2,822
Provision for credit losses	1,774		3,407		970		1,132			264			918
Amortization of intangibles	315		377		156		191			—			—
Other noninterest expense	17,229		17,236		3,905		4,156			4,224			3,826
Income (loss) before income taxes	1,339		7,682		2,039		2,648			(1,392		)	(1,922		)
Income tax expense (benefit) (FTE basis)	999		1,450		754		984			(515		)	(801		)
Net income (loss)	$	340	$	6,232	$	1,285	$	1,664		$	(877	)	$	(1,121	)
Period-end total assets	$	2,166,162	$	2,219,628	$	540,260	$	520,125		$	139,366		$	188,769

					Global Banking					Global Markets
					2012		2011			2012			2011
Net interest income (FTE basis)					$	2,264	$	2,323		$	846		$	925
Noninterest income					1,883		1,628			2,260			2,369
Total revenue, net of interest expense (FTE basis)					4,147		3,951			3,106			3,294
Provision (benefit) for credit losses					68		(182		)	21			3
Amortization of intangibles					20		29			16			16
Other noninterest expense					2,003		2,188			2,529			2,950
Income before income taxes					2,056		1,916			540			325
Income tax expense (FTE basis)					761		710			899			878
Net income (loss)					$	1,295	$	1,206		$	(359	)	$	(553	)
Period-end total assets					$	355,417	$	341,100		$	583,203		$	552,772

					Global Wealth & Investment Management					All Other
					2012		2011			2012			2011
Net interest income (FTE basis)					$	1,458	$	1,412		$	219		$	8
Noninterest income (loss)					2,820		2,826			(1,259		)	6,262
Total revenue, net of interest expense (FTE basis)					4,278		4,238			(1,040		)	6,270
Provision for credit losses					61		162			390			1,374
Amortization of intangibles					102		108			21			33
Other noninterest expense					3,253		3,392			1,315			724
Income (loss) before income taxes					862		576			(2,766		)	4,139
Income tax expense (benefit) (FTE basis)					320		214			(1,220		)	(535		)
Net income (loss)					$	542	$	362		$	(1,546	)	$	4,674
Period-end total assets					$	283,949	$	280,897		$	263,967		$	335,965


⁽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 September 30						Nine Months Ended September 30
(Dollars in millions)	2012			2011			2012			2011
Segments’ total revenue, net of interest expense (FTE basis)	$	21,697		$	22,432		$	66,610		$	58,364
Adjustments:
ALM activities	(930		)	5,286			(1,623		)	6,193
Equity investment income	165			1,380			519			3,935
Liquidating businesses	271			521			1,173			2,285
FTE basis adjustment	(229		)	(249		)	(670		)	(714		)
Other	(546		)	(917		)	(1,335		)	(1,497		)
Consolidated revenue, net of interest expense	$	20,428		$	28,453		$	64,674		$	68,566

Segments’ net income (loss)	$	1,886		$	1,558		$	7,938		$	(3,933	)
Adjustments, net-of-taxes:
ALM activities	(1,157		)	2,578			(3,210		)	632
Equity investment income	104			869			327			2,479
Liquidating businesses	8			(241		)	219			(67		)
Merger and restructuring charges	—			(111		)	—			(338		)
Other	(501		)	1,579			(1,818		)	682
Consolidated net income (loss)	$	340		$	6,232		$	3,456		$	(545	)

							September 30
							2012			2011
Segments’ total assets							$	1,902,195		$	1,883,663
Adjustments:
ALM activities, including securities portfolio							634,209			653,131
Equity investments							5,521			14,737
Liquidating businesses							27,166			38,136
Elimination of segment excess asset allocations to match liabilities							(538,980		)	(489,548		)
Other							136,051			119,509
Consolidated total assets							$	2,166,162		$	2,219,628

- 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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