Quarterly report pursuant to Section 13 or 15(d)

Segment and Geographic Information

Segment and Geographic Information
3 Months Ended
Mar. 31, 2013
Segment Reporting [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 of the nature that could be used to allocate resources and assess the performance and operations for components 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 therefore 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
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:
(dollars in millions)
For the Three Months Ended March 31, 2013
For the Three Months Ended March 31, 2012
Revenues, net of interest expense


Europe, Middle East, and Africa


Pacific Rim


Latin America




Total Non-U.S. 


United States(1)(2)


Total revenues, net of interest expense


U.S. results for the three months ended March 31, 2013 and March 31, 2012 included net losses of $34 million and $2.1 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.
Corporate net revenues and adjustments are reflected in the U.S. region.