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, 2013

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, 2013 and 2012, and total assets at June 30, 2013 and 2012 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)	2013		2012		2013			2012			2013			2012
Net interest income (FTE basis)	$	10,771	$	9,782	$	5,034		$	4,878		$	699		$	713
Noninterest income	12,178		12,420		2,400			2,617			1,416			1,816
Total revenue, net of interest expense (FTE basis)	22,949		22,202		7,434			7,495			2,115			2,529
Provision for credit losses	1,211		1,773		967			1,157			291			187
Amortization of intangibles	274		321		127			158			—			—
Other noninterest expense	15,744		16,727		4,056			4,262			3,394			3,524
Income (loss) before income taxes	5,720		3,381		2,284			1,918			(1,570		)	(1,182		)
Income tax expense (benefit) (FTE basis)	1,708		918		892			710			(633		)	(438		)
Net income (loss)	$	4,012	$	2,463	$	1,392		$	1,208		$	(937	)	$	(744	)
Period-end total assets	$	2,123,320	$	2,160,854	$	587,576		$	537,946		$	124,031		$	146,386

					Global Banking						Global Markets
					2013			2012			2013			2012
Net interest income (FTE basis)					$	2,252		$	1,940		$	1,013		$	721
Noninterest income					1,887			1,968			3,176			2,857
Total revenue, net of interest expense (FTE basis)					4,139			3,908			4,189			3,578
Provision for credit losses					163			(152		)	(16		)	(1		)
Amortization of intangibles					16			20			17			16
Other noninterest expense					1,843			1,947			2,752			2,839
Income before income taxes					2,117			2,093			1,436			724
Income tax expense (FTE basis)					826			775			477			227
Net income					$	1,291		$	1,318		$	959		$	497
Period-end total assets					$	334,820		$	310,933		$	607,050		$	576,175

					Global Wealth & Investment Management						All Other
					2013			2012			2013			2012
Net interest income (FTE basis)					$	1,505		$	1,393		$	268		$	137
Noninterest income					2,994			2,701			305			461
Total revenue, net of interest expense (FTE basis)					4,499			4,094			573			598
Provision for credit losses					(15		)	47			(179		)	535
Amortization of intangibles					99			105			15			22
Other noninterest expense					3,173			3,072			526			1,083
Income (loss) before income taxes					1,242			870			211			(1,042		)
Income tax expense (benefit) (FTE basis)					484			322			(338		)	(678		)
Net income (loss)					$	758		$	548		$	549		$	(364	)
Period-end total assets					$	263,867		$	263,006		$	205,976		$	326,408


⁽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)	2013		2012		2013		2012			2013			2012
Net interest income (FTE basis)	$	21,646	$	20,835	$	10,047	$	10,160		$	1,442		$	1,481
Noninterest income	24,711		23,852		4,799		4,968			2,985			3,712
Total revenue, net of interest expense (FTE basis)	46,357		44,687		14,846		15,128			4,427			5,193
Provision for credit losses	2,924		4,191		1,919		2,064			626			694
Amortization of intangibles	550		640		254		316			—			—
Other noninterest expense	34,968		35,549		8,099		8,409			8,800			7,404
Income (loss) before income taxes	7,915		4,307		4,574		4,339			(4,999		)	(2,905		)
Income tax expense (benefit) (FTE basis)	2,420		1,191		1,743		1,599			(1,905		)	(1,026		)
Net income (loss)	$	5,495	$	3,116	$	2,831	$	2,740		$	(3,094	)	$	(1,879	)
Period-end total assets	$	2,123,320	$	2,160,854	$	587,576	$	537,946		$	124,031		$	146,386

					Global Banking					Global Markets
					2013		2012			2013			2012
Net interest income (FTE basis)					$	4,412	$	4,027		$	2,122		$	1,628
Noninterest income					3,757		3,910			6,936			6,357
Total revenue, net of interest expense (FTE basis)					8,169		7,937			9,058			7,985
Provision for credit losses					312		(427		)	(11		)	(14		)
Amortization of intangibles					32		40			33			31
Other noninterest expense					3,664		3,888			5,809			6,059
Income before income taxes					4,161		4,436			3,227			1,909
Income tax expense (FTE basis)					1,586		1,634			1,099			583
Net income					$	2,575	$	2,802		$	2,128		$	1,326
Period-end total assets					$	334,820	$	310,933		$	607,050		$	576,175

					Global Wealth & Investment Management					All Other
					2013		2012			2013			2012
Net interest income (FTE basis)					$	3,101	$	2,924		$	522		$	615
Noninterest income (loss)					5,819		5,317			415			(412		)
Total revenue, net of interest expense (FTE basis)					8,920		8,241			937			203
Provision for credit losses					7		93			71			1,781
Amortization of intangibles					198		210			33			43
Other noninterest expense					6,327		6,199			2,269			3,590
Income (loss) before income taxes					2,388		1,739			(1,436		)	(5,211		)
Income tax expense (benefit) (FTE basis)					910		641			(1,013		)	(2,240		)
Net income (loss)					$	1,478	$	1,098		$	(423	)	$	(2,971	)
Period-end total assets					$	263,867	$	263,006		$	205,976		$	326,408


⁽¹⁾	There were no material intersegment revenues.

Reconciliation of Consolidated Total Assets of Business Segments

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)	2013			2012			2013			2012
Segments' total revenue, net of interest expense (FTE basis)	$	22,376		$	21,604		$	45,420		$	44,484
Adjustments:
ALM activities ⁽¹⁾	(94		)	477			(410		)	(692		)
Equity investment income (loss)	576			(36		)	1,096			394
Liquidating businesses and other	91			157			251			501
FTE basis adjustment	(222		)	(234		)	(433		)	(441		)
Consolidated revenue, net of interest expense	$	22,727		$	21,968		$	45,924		$	44,246

Segments' net income	$	3,463		$	2,827		$	5,918		$	6,087
Adjustments, net-of-taxes:
ALM activities	(166		)	(229		)	(677		)	(2,052		)
Equity investment income (loss)	363			(23		)	690			248
Liquidating businesses and other	352			(112		)	(436		)	(1,167		)
Consolidated net income	$	4,012		$	2,463		$	5,495		$	3,116

							June 30
							2013			2012
Segments' total assets							$	1,917,344		$	1,834,446
Adjustments:
ALM activities, including securities portfolio							659,623			641,210
Equity investments							4,172			5,546
Liquidating businesses and other							72,508			181,802
Elimination of segment asset allocations to match liabilities							(530,327		)	(502,150		)
Consolidated total assets							$	2,123,320		$	2,160,854


⁽¹⁾	Includes positive fair value adjustments on structured liabilities of $10 million and negative adjustments of $80 million for the three and six months ended June 30, 2013 compared to negative adjustments of $62 million and $3.4 billion for the same periods in 2012.

- 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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