Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of (Loss) Earnings

v2.4.0.6
Condensed Consolidated Statements of (Loss) Earnings (USD $)
In Millions, unless otherwise specified
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Revenues    
Principal transactions $ (141) $ 1,171
Commissions 1,355 1,590
Managed account and other fee-based revenues 1,287 1,291
Investment banking 1,204 1,532
Earnings from equity method investments 157 138
Intercompany service fee revenue from BAC 167 233
Other revenues 772 1,895
Other-than-temporary impairment losses on available-for-sale debt securities:    
Total other-than-temporary impairment losses on AFS debt securities (2) (38)
Less: Portion of other-than-temporary impairment losses recognized in OCI on AFS debt securities 0 1
Subtotal 4,799 7,813
Interest and dividend revenues 1,837 2,400
Less interest expense 1,907 2,353
Net interest (expense) income (70) 47
Revenues, net of interest expense 4,729 7,860
Non-interest expenses    
Compensation and benefits 4,514 4,610
Communications and technology 439 428
Occupancy and related depreciation 305 336
Brokerage, clearing, and exchange fees 282 300
Advertising and market development 108 121
Professional fees 195 227
Office supplies and postage 28 32
Provision for representations and warranties 11 (22)
Intercompany service fee expense from BAC 394 553
Other 305 654
Total non-interest expenses 6,581 7,239
Pre-tax (loss) earnings (1,852) 621
Income tax (benefit) expense (224) 215
Net (loss) earnings $ (1,628) $ 406