Annual report pursuant to Section 13 and 15(d)

Stockholder's Equity and Earnings Per Share

v2.4.0.6
Stockholder's Equity and Earnings Per Share
 12 Months Ended
Dec. 31, 2012
Stockholders' Equity Note [Abstract]  
Stockholder's Equity and Earnings Per Share
Note 13.
Stockholder's Equity and Earnings Per Share
Preferred Equity
As of October 15, 2010, all of Merrill Lynch's 9% Mandatory Convertible Non-Cumulative Preferred Stock, Series 2, and 9% Mandatory Convertible Non-Cumulative Preferred Stock, Series 3, were automatically converted into Bank of America common stock in accordance with the terms of these securities. As a result of the conversion, there were no preferred stock dividends recorded during the years ended December 31, 2012 and December 31, 2011. Preferred stock dividends of $134 million were recorded in the year ended December 31, 2010.
Common Stock
As of the completion of the acquisition of Merrill Lynch by Bank of America on January 1, 2009, there have been 1,000 shares of ML & Co. common stock outstanding, all of which are held by Bank of America.

Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss represents cumulative gains and losses on items that are not reflected in Merrill Lynch’s net earnings (loss). The balances at December 31, 2012 and December 31, 2011 are as follows:
(dollars in millions)
 
December 31,
2012
 
 
December 31,
2011
Foreign currency translation adjustment
 

 
 
 

Unrealized losses, net of gains
$
(770
)
 
 
$
(744
)
Income taxes
814

 
 
765

Total
44

 
 
21

Unrealized losses on investment securities available-for-sale
 

 
 
 

Net unrealized losses
—

 
 
—

Income taxes
(3
)
 
 
(33
)
Total
(3
)
 
 
(33
)
Deferred losses on cash flow hedges
 

 
 
 

Deferred losses
(1
)
 
 
(1
)
Income taxes
—

 
 
—

Total
(1
)
 
 
(1
)
Defined benefit pension and postretirement plans
 

 
 
 

Net actuarial losses
(899
)
 
 
(362
)
Net prior service cost
(32
)
 
 
(35
)
Income taxes
364

 
 
175

Total
(567
)
 
 
(222
)
Total accumulated other comprehensive loss
$
(527
)
 
 
$
(235
)
 
 
 
 
 

Earnings Per Share
Earnings per share data is not provided for the years ended December 31, 2012, December 31, 2011 and December 31, 2010, as Merrill Lynch was a wholly-owned subsidiary of Bank of America during that period.