Quarterly report pursuant to Section 13 or 15(d)

Segment and Geographic Information

 v2.3.0.11
Segment and Geographic Information
 6 Months Ended
Jun. 30, 2011
Segment and Geographic Information [Abstract]  
Segment and Geographic Information
 
Note 3.  Segment and Geographic Information
 
Segment Information
 
Pursuant to ASC 280, Segment Reporting, operating segments represent components of an enterprise for which separate financial information is available that is regularly evaluated by the chief operating decision maker in determining how to allocate resources and in assessing performance. The business activities of Merrill Lynch are included within certain of the operating segments of Bank of America. Detailed financial information related to the stand-alone operations of Merrill Lynch, however, is not provided to Merrill Lynch’s chief operating decision maker. As a result, Merrill Lynch does not contain any identifiable operating segments under Segment Reporting, and the financial information of Merrill Lynch is presented as a single segment.
 
Geographic Information
 
Merrill Lynch conducts its business activities through offices in the following five regions:
 
•  United States;
 
•  Europe, Middle East, and Africa (“EMEA”);
 
•  Pacific Rim;
 
•  Latin America; and
 
•  Canada.
 
The principal methodologies used in preparing the geographic information below are as follows:
 
•  Revenues are generally recorded based on the location of the employee generating the revenue; and
 
•  Intercompany transfers are based primarily on service agreements.
 
The information that follows, in management’s judgment, provides a reasonable representation of each region’s contribution to the consolidated net revenues:
 
                                 
    Three Months Ended
 		  Six Months Ended
 		  Three Months Ended
 		  Six Months Ended
(dollars in millions)   June 30, 2011   June 30, 2011   June 30, 2010   June 30, 2010
 
 
Revenues, net of interest expense
                               
Europe, Middle East, and Africa
  $ 1,331     $ 2,649     $ 611     $ 2,732  
Pacific Rim
    565       1,336       322       1,100  
Latin America
    395       727       240       580  
Canada
    74       153       55       128  
                                 
Total Non-U.S. 
    2,365       4,865       1,228       4,540  
United States(1)(2)
    4,537       9,897       5,471       11,550  
                                 
Total revenues, net of interest expense
  $ 6,902     $ 14,762     $ 6,699     $ 16,090  
                                 
 
 
 
(1) U.S. results for the three and six months ended June 30, 2011 included gains of $0.1 billion and losses of $0.2 billion, respectively, due to the impact of changes in Merrill Lynch’s credit spreads on the carrying values of certain long-term borrowings, primarily structured notes. U.S. results for the three and six months ended June 30, 2010 included gains of $1.2 billion and $1.4 billion, respectively, due to the impact of changes in Merrill Lynch’s credit spreads on the carrying values of certain long-term borrowings, primarily structured notes.
(2) Corporate net revenues and adjustments are reflected in the U.S. region.