Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Earnings (Loss)

v2.4.0.6
Condensed Consolidated Statements of Earnings (Loss) (USD $)
In Millions, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Revenues    
Principal transactions $ 2,144 $ (166)
Commissions 1,379 1,355
Managed account and other fee-based revenues 1,395 1,287
Investment banking 1,416 1,204
(Loss) earnings from equity method investments (46) 157
Intercompany service fee revenue from Bank of America 240 167
Other revenues (382) 779
Other-than-temporary impairment losses on available-for-sale debt securities:    
Total other-than-temporary impairment losses 0 (2)
Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income 0 0
Subtotal 6,146 4,781
Interest and dividend revenues 1,714 1,891
Less interest expense 1,543 1,907
Net interest income (expense) 171 (16)
Revenues, net of interest expense 6,317 4,765
Non-interest expenses    
Compensation and benefits 4,529 4,514
Communications and technology 343 439
Occupancy and related depreciation 295 305
Brokerage, clearing, and exchange fees 304 282
Advertising and market development 117 108
Professional fees 225 195
Office supplies and postage 23 28
Provision for representations and warranties 15 11
Intercompany service fee expense from Bank of America 444 394
Other 358 306
Total non-interest expenses 6,653 6,582
Pre-tax loss (336) (1,817)
Income tax benefit (129) (211)
Net loss $ (207) $ (1,606)