BANK OF AMERICA CORP /DE/ - FORM 8-K - EX-99.1 - REVISED SUPPLEMENTAL INFORMATION

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8-K - FORM 8-K - BANK OF AMERICA CORP /DE/	form8-k04112012.htm

Revised Supplemental Information

to Reflect Segment Realignment

Full Years 2011 and 2010

Quarterly Information for 2011

This segment information is preliminary and based on company data available at the time of this filing. Bank of America does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in Bank of America’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which are available at the SEC’s website (www.sec.gov) or at Bank of America’s website (www.bankofamerica.com). Bank of America’s future financial performance is subject to risks and uncertainties as described in its SEC filings.




Bank of America Corporation and Subsidiaries
Table of Contents	Page


Annual Results by Business Segment	2
Quarterly Results by Business Segment	3
Consumer & Business Banking
Total Segment Results	5
Business Results	6
Key Indicators	9
Consumer Real Estate Services
Total Segment Results	10
Business Results	11
Key Indicators	14
Global Banking
Total Segment Results	15
Key Indicators	16
Global Markets
Total Segment Results	17
Key Indicators	18
Global Wealth & Investment Management
Total Segment Results	19
Key Indicators	20
All Other
Total Segment Results	21
Quarterly Average Loans and Leases by Business Segment	22
Net Charge-offs and Net Charge-off Ratios	24
Exhibit A: Non-GAAP Reconciliations	25



Bank of America Corporation and Subsidiaries
Annual Results by Business Segment
(Dollars in millions)
	Year Ended December 31, 2011
	Total Corporation			Consumer & Business Banking			Consumer Real Estate Services			Global Banking			Global Markets			GWIM		All Other
Net interest income (FTE basis) ⁽¹⁾	$	45,588		$	21,377		$	3,207		$	9,490		$	3,682		$	6,052	$	1,780
Noninterest income (loss)	48,838			11,496			(6,361		)	7,828			11,103			11,344		13,428
Total revenue, net of interest expense (FTE basis) ⁽¹⁾	94,426			32,873			(3,154		)	17,318			14,785			17,396		15,208
Provision for credit losses	13,410			3,490			4,524			(1,118		)	(56		)	398		6,172
Noninterest expense	80,274			17,704			21,804			8,888			12,236			14,357		5,285
Income (loss) before income taxes	742			11,679			(29,482		)	9,548			2,605			2,641		3,751
Income tax expense (benefit) (FTE basis) ⁽¹⁾	(704		)	4,227			(10,009		)	3,501			1,620			969		(1,012		)
Net income (loss)	$	1,446		$	7,452		$	(19,473	)	$	6,047		$	985		$	1,672	$	4,763

Average
Total loans and leases	$	938,096		$	153,641		$	119,820		$	265,560		n/m			$	102,144	$	283,890
Total assets ⁽²⁾	2,296,322			517,523			190,367			338,455			$	589,753		290,565		369,659
Total deposits	1,035,802			462,087			n/m			237,193			n/m			254,997		49,267
Period end
Total loans and leases	$	926,200		$	146,378		$	112,359		$	278,177		n/m			$	103,460	$	267,621
Total assets ⁽²⁾	2,129,046			520,503			163,712			350,148			$	501,150		284,062		309,471
Total deposits	1,033,041			464,263			n/m			246,466			n/m			253,264		32,729

	Year Ended December 31, 2010
	Total Corporation			Consumer & Business Banking			Consumer Real Estate Services			Global Banking			Global Markets			GWIM		All Other
Net interest income (FTE basis) ⁽¹⁾	$	52,693		$	24,298		$	4,662		$	10,064		$	4,332		$	5,682	$	3,655
Noninterest income	58,697			13,883			5,667			7,684			14,786			10,609		6,068
Total revenue, net of interest expense (FTE basis) ⁽¹⁾	111,390			38,181			10,329			17,748			19,118			16,291		9,723
Provision for credit losses	28,435			11,647			8,490			1,298			30			646		6,324
Noninterest expense	83,108			28,579			14,806			8,672			11,769			13,209		6,073
Income (loss) before income taxes	(153		)	(2,045		)	(12,967		)	7,778			7,319			2,436		(2,674		)
Income tax expense (benefit) (FTE basis) ⁽¹⁾	2,085			3,089			(4,070		)	2,887			3,073			1,083		(3,977		)
Net income (loss)	$	(2,238	)	$	(5,134	)	$	(8,897	)	$	4,891		$	4,246		$	1,353	$	1,303

Average
Total loans and leases	$	958,331		$	175,746		$	129,234		$	260,970		n/m			$	99,269	$	281,642
Total assets ⁽²⁾	2,439,606			516,511			224,994			312,922			$	644,561		267,365		473,253
Total deposits	988,586			451,553			n/m			203,459			n/m			232,519		66,882
Period end
Total loans and leases	$	940,440		$	166,007		$	122,933		$	254,841		n/m			$	100,725	$	285,086
Total assets ⁽²⁾	2,264,909			510,986			212,412			311,788			$	537,270		296,478		395,975
Total deposits	1,010,430			452,871			n/m			217,262			n/m			258,210		48,767


⁽¹⁾	Fully taxable-equivalent (FTE) basis is a non-GAAP financial measure. Other companies may define or calculate this measure differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 25-27.)


⁽²⁾	Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	2



Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment
(Dollars in millions)
	Fourth Quarter 2011
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services			Global Banking			Global Markets			GWIM		All Other
Net interest income (FTE basis) ⁽¹⁾	$	10,959	$	5,079	$	809		$	2,309		$	863		$	1,496	$	403
Noninterest income	14,187		2,526		2,467			1,694			942			2,671		3,887
Total revenue, net of interest expense (FTE basis) ⁽¹⁾	25,146		7,605		3,276			4,003			1,805			4,167		4,290
Provision for credit losses	2,934		1,297		1,001			(256		)	(18		)	118		792
Noninterest expense	19,522		4,426		4,573			2,137			2,893			3,637		1,856
Income (loss) before income taxes	2,690		1,882		(2,298		)	2,122			(1,070		)	412		1,642
Income tax expense (benefit) (FTE basis) ⁽¹⁾	699		639		(854		)	785			(302		)	153		278
Net income (loss)	$	1,991	$	1,243	$	(1,444	)	$	1,337		$	(768	)	$	259	$	1,364

Average
Total loans and leases	$	932,898	$	147,150	$	116,993		$	276,844		n/m			$	102,709	$	272,808
Total assets ⁽²⁾	2,207,567		514,798		171,763			348,469			$	552,190		284,629		335,718
Total deposits	1,032,531		459,819		n/m			240,732			n/m			250,040		46,055
Period end
Total loans and leases	$	926,200	$	146,378	$	112,359		$	278,177		n/m			$	103,460	$	267,621
Total assets ⁽²⁾	2,129,046		520,503		163,712			350,148			$	501,150		284,062		309,471
Total deposits	1,033,041		464,263		n/m			246,466			n/m			253,264		32,729

	Third Quarter 2011
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services			Global Banking			Global Markets			GWIM		All Other
Net interest income (FTE basis) ⁽¹⁾	$	10,739	$	5,149	$	923		$	2,323		$	925		$	1,412	$	7
Noninterest income	17,963		2,976		1,899			1,629			2,370			2,826		6,263
Total revenue, net of interest expense (FTE basis) ⁽¹⁾	28,702		8,125		2,822			3,952			3,295			4,238		6,270
Provision for credit losses	3,407		1,132		918			(182		)	3			162		1,374
Noninterest expense	17,613		4,342		3,829			2,219			2,966			3,507		750
Income (loss) before income taxes	7,682		2,651		(1,925		)	1,915			326			569		4,146
Income tax expense (benefit) (FTE basis) ⁽¹⁾	1,450		985		(802		)	710			878			211		(532		)
Net income (loss)	$	6,232	$	1,666	$	(1,123	)	$	1,205		$	(552	)	$	358	$	4,678

Average
Total loans and leases	$	942,032	$	151,492	$	120,079		$	268,170		n/m			$	102,786	$	286,753
Total assets ⁽²⁾	2,301,454		518,945		182,843			349,237			$	603,661		290,974		355,794
Total deposits	1,051,320		464,256		n/m			246,291			n/m			255,882		52,846
Period end
Total loans and leases	$	932,531	$	149,739	$	119,823		$	273,549		n/m			$	102,362	$	274,268
Total assets ⁽²⁾	2,219,628		519,562		188,769			342,038			$	552,097		280,897		336,265
Total deposits	1,041,353		465,773		n/m			236,264			n/m			251,251		53,248

For footnotes see page 4.



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	3



Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment (continued)
(Dollars in millions)
	Second Quarter 2011
	Total Corporation			Consumer & Business Banking		Consumer Real Estate Services			Global Banking			Global Markets			GWIM		All Other
Net interest income (FTE basis) ⁽¹⁾	$	11,493		$	5,549	$	579		$	2,376		$	874		$	1,573	$	542
Noninterest income	1,990			3,130		(11,894		)	2,285			3,539			2,922		2,008
Total revenue, net of interest expense (FTE basis) ⁽¹⁾	13,483			8,679		(11,315		)	4,661			4,413			4,495		2,550
Provision for credit losses	3,255			400		1,507			(557		)	(8		)	72		1,841
Noninterest expense	22,856			4,375		8,625			2,223			3,263			3,624		746
Income (loss) before income taxes	(12,628		)	3,904		(21,447		)	2,995			1,158			799		(37		)
Income tax expense (benefit) (FTE basis) ⁽¹⁾	(3,802		)	1,402		(6,941		)	1,074			247			286		130
Net income (loss)	$	(8,826	)	$	2,502	$	(14,506	)	$	1,921		$	911		$	513	$	(167	)

Average
Total loans and leases	$	938,513		$	155,122	$	121,683		$	260,132		n/m			$	102,201	$	287,840
Total assets ⁽²⁾	2,339,110			522,693		198,030			332,361			$	622,251		289,262		374,513
Total deposits	1,035,944			467,179		n/m			235,699			n/m			255,432		48,072
Period end
Total loans and leases	$	941,257		$	153,391	$	121,553		$	263,066		n/m			$	102,878	$	287,425
Total assets ⁽²⁾	2,261,319			521,306		185,398			341,587			$	560,684		284,504		367,840
Total deposits	1,038,408			465,457		n/m			243,885			n/m			255,796		43,908

	First Quarter 2011
	Total Corporation			Consumer & Business Banking		Consumer Real Estate Services			Global Banking			Global Markets			GWIM		All Other
Net interest income (FTE basis) ⁽¹⁾	$	12,397		$	5,600	$	896		$	2,482		$	1,020		$	1,571	$	828
Noninterest income	14,698			2,864		1,167			2,220			4,252			2,925		1,270
Total revenue, net of interest expense (FTE basis)⁽¹⁾	27,095			8,464		2,063			4,702			5,272			4,496		2,098
Provision for credit losses	3,814			661		1,098			(123		)	(33		)	46		2,165
Noninterest expense	20,283			4,561		4,777			2,309			3,114			3,589		1,933
Income (loss) before income taxes	2,998			3,242		(3,812		)	2,516			2,191			861		(2,000		)
Income tax expense (benefit) (FTE basis) ⁽¹⁾	949			1,201		(1,412		)	932			797			319		(888		)
Net income (loss)	$	2,049		$	2,041	$	(2,400	)	$	1,584		$	1,394		$	542	$	(1,112	)

Average
Total loans and leases	$	938,966		$	160,976	$	120,560		$	256,846		n/m			$	100,852	$	288,301
Total assets ⁽²⁾	2,338,538			513,629		209,328			323,357			$	581,074		297,531		413,619
Total deposits	1,023,140			457,037		n/m			225,785			n/m			258,719		50,107
Period end
Total loans and leases	$	932,425		$	156,950	$	118,749		$	257,468		n/m			$	101,287	$	286,531
Total assets ⁽²⁾	2,274,532			526,848		204,484			327,611			$	576,487		285,690		353,412
Total deposits	1,020,175			471,009		n/m			229,199			n/m			256,751		36,154


⁽¹⁾	Fully taxable-equivalent (FTE) basis is a non-GAAP financial measure. Other companies may define or calculate this measure differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 25-27.)


⁽²⁾	Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	4



Bank of America Corporation and Subsidiaries
Consumer & Business Banking Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
	2011			2010			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net interest income (FTE basis)	$	21,377		$	24,298		$	5,079		$	5,149		$	5,549		$	5,600
Noninterest income:
Card income	6,286			7,054			1,303			1,720			1,686			1,577
Service charges	4,518			5,584			1,144			1,202			1,094			1,078
All other income	692			1,245			79			54			350			209
Total noninterest income	11,496			13,883			2,526			2,976			3,130			2,864
Total revenue, net of interest expense (FTE basis)	32,873			38,181			7,605			8,125			8,679			8,464

Provision for credit losses	3,490			11,647			1,297			1,132			400			661

Goodwill impairment	—			10,400			—			—			—			—
All other noninterest expense	17,704			18,179			4,426			4,342			4,375			4,561
Income (loss) before income taxes	11,679			(2,045		)	1,882			2,651			3,904			3,242
Income tax expense (FTE basis)	4,227			3,089			639			985			1,402			1,201
Net income (loss)	$	7,452		$	(5,134	)	$	1,243		$	1,666		$	2,502		$	2,041

Net interest yield (FTE basis)	4.45		%	5.09		%	4.23		%	4.26		%	4.58		%	4.75		%
Return on average allocated equity	14.09			n/m			9.31			12.61			19.09			15.41
Return on average economic capital ⁽¹⁾	33.55			19.91			22.10			30.45			45.86			36.10
Efficiency ratio (FTE basis)	53.86			74.85			58.20			53.44			50.41			53.89
Efficiency ratio, excluding goodwill impairment charge (FTE basis)	53.86			47.61			58.20			53.44			50.41			53.89

Balance Sheet
Average
Total loans and leases	$	153,641		$	175,746		$	147,150		$	151,492		$	155,122		$	160,976
Total earning assets ⁽²⁾	480,039			477,269			475,859			479,746			486,115			478,468
Total assets ⁽²⁾	517,523			516,511			514,798			518,945			522,693			513,629
Total deposits	462,087			451,553			459,819			464,256			467,179			457,037
Allocated equity	52,908			64,578			53,005			52,382			52,559			53,700
Economic capital ⁽¹⁾	22,273			26,860			22,418			21,781			21,904			23,002

Period end
Total loans and leases	$	146,378		$	166,007		$	146,378		$	149,739		$	153,391		$	156,950
Total earning assets ⁽²⁾	480,378			475,716			480,378			480,597			482,728			490,106
Total assets ⁽²⁾	520,503			510,986			520,503			519,562			521,306			526,848
Total deposits	464,263			452,871			464,263			465,773			465,457			471,009

⁽¹⁾ Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 25-27.)

⁽²⁾ Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	5



Bank of America Corporation and Subsidiaries
Consumer & Business Banking Annual Results
(Dollars in millions)
	Year Ended December 31, 2011
	Total Consumer & Business Banking			Deposits			Card Services			Business Banking ⁽¹⁾
Net interest income (FTE basis)	$	21,377		$	8,471		$	11,502		$	1,404
Noninterest income:
Card income	6,286			—			6,286			—
Service charges	4,518			3,995			—			523
All other income	692			223			328			141
Total noninterest income	11,496			4,218			6,614			664
Total revenue, net of interest expense (FTE basis)	32,873			12,689			18,116			2,068

Provision for credit losses	3,490			173			3,072			245

Noninterest expense	17,704			10,578			5,961			1,165
Income before income taxes	11,679			1,938			9,083			658
Income tax expense (FTE basis)	4,227			711			3,272			244
Net income	$	7,452		$	1,227		$	5,811		$	414

Net interest yield (FTE basis)	4.45		%	2.02		%	9.04		%	3.23		%
Return on average allocated equity	14.09			5.17			27.50			5.15
Return on average economic capital ⁽²⁾	33.55			21.26			55.30			6.97
Efficiency ratio (FTE basis)	53.86			83.36			32.90			56.36

Balance Sheet
Average
Total loans and leases	$	153,641		n/m			$	126,083		$	26,889
Total earning assets ⁽³⁾	480,039			$	419,444		127,258			43,542
Total assets ⁽³⁾	517,523			445,922			130,254			51,553
Total deposits	462,087			421,106			n/m			40,679
Allocated equity	52,908			23,735			21,127			8,046
Economic capital ⁽²⁾	22,273			5,786			10,538			5,949

Period end
Total loans and leases	$	146,378		n/m			$	120,668		$	25,006
Total earning assets ⁽³⁾	480,378			$	418,622		121,991			46,515
Total assets ⁽³⁾	520,503			445,680			127,623			53,949
Total deposits	464,263			421,871			n/m			41,518

	Year Ended December 31, 2010
	Total Consumer & Business Banking			Deposits			Card Services			Business Banking ⁽¹⁾
Net interest income (FTE basis)	$	24,298		$	8,278		$	14,408		$	1,612
Noninterest income:
Card income	7,054			—			7,054			—
Service charges	5,584			5,057			—			527
All other income	1,245			227			851			167
Total noninterest income	13,883			5,284			7,905			694
Total revenue, net of interest expense (FTE basis)	38,181			13,562			22,313			2,306

Provision for credit losses	11,647			201			10,962			484

Goodwill impairment	10,400			—			10,400			—
All other noninterest expense	18,179			11,150			5,901			1,128
Income (loss) before income taxes	(2,045		)	2,211			(4,950		)	694
Income tax expense (FTE basis)	3,089			820			2,012			257
Net income (loss)	$	(5,134	)	$	1,391		$	(6,962	)	$	437

Net interest yield (FTE basis)	5.09		%	2.00		%	9.85		%	4.11		%
Return on average allocated equity	n/m			5.74			n/m			5.51
Return on average economic capital ⁽²⁾	19.91			22.44			23.75			7.49
Efficiency ratio (FTE basis)	74.85			82.21			73.06			48.89
Efficiency ratio, excluding goodwill impairment charge (FTE basis)	47.61			82.21			26.45			48.89

Balance Sheet
Average
Total loans and leases	$	175,746		n/m			$	145,081		$	29,977
Total earning assets ⁽³⁾	477,269			$	413,595		146,303			39,210
Total assets ⁽³⁾	516,511			440,030			150,660			47,660
Total deposits	451,553			414,877			n/m			36,466
Allocated equity	64,578			24,222			32,416			7,940
Economic capital ⁽²⁾	26,860			6,247			14,772			5,841

Period end
Total loans and leases	$	166,007		n/m			$	137,024		$	28,313
Total earning assets ⁽³⁾	475,716			$	414,215		138,071			39,697
Total assets ⁽³⁾	510,986			440,953			138,479			47,820
Total deposits	452,871			415,189			n/m			37,379

For footnotes see page 8.



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	6



Bank of America Corporation and Subsidiaries
Consumer & Business Banking Quarterly Results
(Dollars in millions)
	Fourth Quarter 2011
	Total Consumer & Business Banking			Deposits			Card Services			Business Banking ⁽¹⁾
Net interest income (FTE basis)	$	5,079		$	1,998		$	2,766		$	315
Noninterest income:
Card income	1,303			—			1,303			—
Service charges	1,144			1,036			—			108
All other income (loss)	79			46			(15		)	48
Total noninterest income	2,526			1,082			1,288			156
Total revenue, net of interest expense (FTE basis)	7,605			3,080			4,054			471

Provision for credit losses	1,297			57			1,138			102

Noninterest expense	4,426			2,785			1,376			265
Income before income taxes	1,882			238			1,540			104
Income tax expense (FTE basis)	639			89			511			39
Net income	$	1,243		$	149		$	1,029		$	65

Net interest yield (FTE basis)	4.23		%	1.91		%	8.96		%	2.69		%
Return on average allocated equity	9.31			2.46			19.80			3.13
Return on average economic capital ⁽²⁾	22.10			10.00			40.71			4.15
Efficiency ratio (FTE basis)	58.20			90.46			33.97			55.82

Balance Sheet
Average
Total loans and leases	$	147,150		n/m			$	121,122		$	25,306
Total earning assets ⁽³⁾	475,859			$	414,905		122,374			46,707
Total assets⁽³⁾	514,798			441,629			127,530			53,767
Total deposits	459,819			417,110			n/m			42,388
Allocated equity	53,005			23,862			20,610			8,533
Economic capital ⁽²⁾	22,418			5,923			10,061			6,434

Period end
Total loans and leases	$	146,378		n/m			$	120,668		$	25,006
Total earning assets ⁽³⁾	480,378			$	418,622		121,991			46,515
Total assets⁽³⁾	520,503			445,680			127,623			53,949
Total deposits	464,263			421,871			n/m			41,518

	Third Quarter 2011
	Total Consumer & Business Banking			Deposits			Card Services			Business Banking ⁽¹⁾
Net interest income (FTE basis)	$	5,149		$	1,987		$	2,820		$	342
Noninterest income:
Card income	1,720			—			1,720			—
Service charges	1,202			1,071			—			131
All other income (loss)	54			61			(42		)	35
Total noninterest income	2,976			1,132			1,678			166
Total revenue, net of interest expense (FTE basis)	8,125			3,119			4,498			508

Provision for credit losses	1,132			52			1,037			43

Noninterest expense	4,342			2,614			1,444			284
Income before income taxes	2,651			453			2,017			181
Income tax expense (FTE basis)	985			168			750			67
Net income	$	1,666		$	285		$	1,267		$	114

Net interest yield (FTE basis)	4.26		%	1.88		%	8.97		%	3.06		%
Return on average allocated equity	12.61			4.75			24.22			5.75
Return on average economic capital ⁽²⁾	30.45			19.36			49.50			7.86
Efficiency ratio (FTE basis)	53.44			83.80			32.09			56.06

Balance Sheet
Average
Total loans and leases	$	151,492		n/m			$	123,547		$	27,258
Total earning assets ⁽³⁾	479,746			$	420,310		124,766			44,342
Total assets ⁽³⁾	518,945			447,053			129,170			52,394
Total deposits	464,256			422,331			n/m			41,622
Allocated equity	52,382			23,820			20,755			7,807
Economic capital ⁽²⁾	21,781			5,873			10,194			5,714

Period end
Total loans and leases	$	149,739		n/m			$	122,222		$	26,839
Total earning assets ⁽³⁾	480,597			$	422,196		123,509			44,403
Total assets ⁽³⁾	519,562			448,906			128,747			51,422
Total deposits	465,773			424,267			n/m			41,182

For footnotes see page 8.



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	7



Bank of America Corporation and Subsidiaries
Consumer & Business Banking Quarterly Results (continued)
(Dollars in millions)
	Second Quarter 2011
	Total Consumer & Business Banking			Deposits			Card Services			Business Banking ⁽¹⁾
Net interest income (FTE basis)	$	5,549		$	2,281		$	2,903		$	365
Noninterest income:
Card income	1,686			—			1,686			—
Service charges	1,094			965			—			129
All other income	350			55			260			35
Total noninterest income	3,130			1,020			1,946			164
Total revenue, net of interest expense (FTE basis)	8,679			3,301			4,849			529

Provision for credit losses	400			31			302			67

Noninterest expense	4,375			2,596			1,517			262
Income before income taxes	3,904			674			3,030			200
Income tax expense (FTE basis)	1,402			242			1,086			74
Net income	$	2,502		$	432		$	1,944		$	126

Net interest yield (FTE basis)	4.58		%	2.15		%	9.06		%	3.45		%
Return on average allocated equity	19.09			7.34			37.11			6.34
Return on average economic capital ⁽²⁾	45.86			30.58			75.04			8.62
Efficiency ratio (FTE basis)	50.41			78.64			31.27			49.73

Balance Sheet
Average
Total loans and leases	$	155,122		n/m			$	127,343		$	27,153
Total earning assets ⁽³⁾	486,115			$	425,362		128,505			42,352
Total assets ⁽³⁾	522,693			451,554			130,356			50,886
Total deposits	467,179			426,684			n/m			40,190
Allocated equity	52,559			23,612			21,016			7,931
Economic capital ⁽²⁾	21,904			5,662			10,409			5,833

Period end
Total loans and leases	$	153,391		n/m			$	125,139		$	27,590
Total earning assets ⁽³⁾	482,728			$	422,646		126,322			44,034
Total assets ⁽³⁾	521,306			449,123			130,704			51,751
Total deposits	465,457			424,579			n/m			40,572

	First Quarter 2011
	Total Consumer & Business Banking			Deposits			Card Services			Business Banking ⁽¹⁾
Net interest income (FTE basis)	$	5,600		$	2,205		$	3,013		$	382
Noninterest income:
Card income	1,577			—			1,577			—
Service charges	1,078			923			—			155
All other income	209			61			125			23
Total noninterest income	2,864			984			1,702			178
Total revenue, net of interest expense (FTE basis)	8,464			3,189			4,715			560

Provision for credit losses	661			33			595			33

Noninterest expense	4,561			2,583			1,624			354
Income before income taxes	3,242			573			2,496			173
Income tax expense (FTE basis)	1,201			212			925			64
Net income	$	2,041		$	361		$	1,571		$	109

Net interest yield (FTE basis)	4.75		%	2.14		%	9.15		%	3.81		%
Return on average allocated equity	15.41			6.19			28.77			5.58
Return on average economic capital ⁽²⁾	36.10			25.87			55.54			7.60
Efficiency ratio (FTE basis)	53.89			80.98			34.44			63.34

Balance Sheet
Average
Total loans and leases	$	160,976		n/m			$	132,472		$	27,864
Total earning assets ⁽³⁾	478,468			$	417,218		133,538			40,690
Total assets ⁽³⁾	513,629			443,461			134,043			49,103
Total deposits	457,037			418,298			n/m			38,462
Allocated equity	53,700			23,641			22,149			7,910
Economic capital ⁽²⁾	23,002			5,683			11,509			5,810

Period end
Total loans and leases	$	156,950		n/m			$	128,844		$	27,491
Total earning assets ⁽³⁾	490,106			$	429,956		129,944			41,536
Total assets ⁽³⁾	526,848			456,247			132,410			49,520
Total deposits	471,009			431,022			n/m			39,693


⁽¹⁾	Business Banking, formerly part of Global Commercial Banking, provides a wide range of lending-related products and services, integrated working capital and treasury solutions to U.S.-based companies with annual sales generally in the range of $1 million to $50 million, and also includes the results of the Corporation's investment in a merchant processing joint venture.

⁽²⁾

Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 25-27.)


⁽³⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) for total Consumer & Business Banking, Deposits and Business Banking. Card Services does not require an asset allocation. As a result, the sum of the businesses does not agree to total Consumer & Business Banking results.

n/m = not meaningful



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	8



Bank of America Corporation and Subsidiaries
Consumer & Business Banking Key Indicators
(Dollars in millions, except as noted)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
	2011			2010			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Average deposit balances
Checking	$	194,814		$	175,946		$	198,274		$	196,807		$	195,968		$	188,073
Savings	38,128			34,939			37,409			38,822			39,391			36,875
MMS	136,336			130,131			136,257			137,508			137,094			134,454
CDs and IRAs	88,812			106,834			83,719			87,105			90,729			93,824
Non-U.S. and other	3,997			3,703			4,160			4,014			3,997			3,811
Total average deposit balances	$	462,087		$	451,553		$	459,819		$	464,256		$	467,179		$	457,037

Deposit spreads (excludes noninterest costs)
Checking	3.16		%	3.62		%	2.95		%	3.09		%	3.25		%	3.38		%
Savings	3.27			3.64			3.11			3.25			3.32			3.42
MMS	1.40			1.14			1.35			1.37			1.41			1.49
CDs and IRAs	0.39			0.23			0.46			0.39			0.36			0.34
Non-U.S. and other	3.71			4.26			3.44			3.63			3.82			3.97
Total deposit spreads	2.12			2.09			2.03			2.09			2.15			2.20

Client brokerage assets	$	66,576		$	63,597		$	66,576		$	61,918		$	69,000		$	66,703

Online banking active accounts (units in thousands)	29,870			29,345			29,870			29,917			29,660			30,065
Mobile banking active accounts (units in thousands)	9,166			6,285			9,166			8,531			7,652			6,970
Banking centers	5,702			5,856			5,702			5,715			5,742			5,805
ATMs	17,756			17,926			17,756			17,752			17,817			17,886

U.S. Credit Card
Loans
Average credit card outstandings	$	105,478		$	117,962		$	102,241		$	103,671		$	106,164		$	109,941
Ending credit card outstandings	102,291			113,785			102,291			102,803			104,659			107,107
Credit quality
Net charge-offs	$	7,276		$	13,027		$	1,432		$	1,639		$	1,931		$	2,274
	6.90		%	11.04		%	5.55		%	6.28		%	7.29		%	8.39		%
30+ delinquency	$	3,823		$	5,914		$	3,823		$	4,019		$	4,263		$	5,093
	3.74		%	5.20		%	3.74		%	3.91		%	4.07		%	4.75		%
90+ delinquency	$	2,070		$	3,320		$	2,070		$	2,128		$	2,413		$	2,879
	2.02		%	2.92		%	2.02		%	2.07		%	2.31		%	2.68		%
Other U.S. credit card indicators
Gross interest yield	10.25		%	10.72		%	10.10		%	10.14		%	10.27		%	10.47		%
Risk adjusted margin	5.82			2.42			6.77			6.08			6.23			4.25
New account growth (in thousands)	3,035			1,814			797			851			730			657
Purchase volumes	$	192,358		$	185,985		$	50,901		$	48,547		$	48,974		$	43,936

Debit card data
Purchase volumes	$	250,545		$	234,080		$	63,726		$	62,774		$	64,049		$	59,996

Business Banking
Loans
Average outstandings	$	26,889		$	29,977		$	25,306		$	27,258		$	27,153		$	27,864

Credit spread	2.36		%	2.64		%	1.77		%	2.37		%	2.44		%	2.83		%

Credit quality
Net charge-offs	$	462		$	751		$	118		$	100		$	127		$	117
	1.72		%	2.50		%	1.85		%	1.46		%	1.88		%	1.70		%
Nonperforming assets	$	1,300		$	1,959		$	1,300		$	1,548		$	1,716		$	1,844
	5.20		%	6.92		%	5.20		%	5.77		%	6.22		%	6.71		%



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	9



Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Segment Results
(Dollars in millions; except as noted)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
	2011			2010			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net interest income (FTE basis)	$	3,207		$	4,662		$	809		$	923		$	579		$	896
Noninterest income:
Mortgage banking income (loss)	(8,193		)	3,164			2,330			1,800			(13,018		)	695
Insurance income (loss)	750			2,061			(3		)	23			299			431
All other income	1,082			442			140			76			825			41
Total noninterest income (loss)	(6,361		)	5,667			2,467			1,899			(11,894		)	1,167
Total revenue, net of interest expense (FTE basis)	(3,154		)	10,329			3,276			2,822			(11,315		)	2,063

Provision for credit losses	4,524			8,490			1,001			918			1,507			1,098

Goodwill impairment	2,603			2,000			—			—			2,603			—
All other noninterest expense	19,201			12,806			4,573			3,829			6,022			4,777
Loss before income taxes	(29,482		)	(12,967		)	(2,298		)	(1,925		)	(21,447		)	(3,812		)
Income tax benefit (FTE basis)	(10,009		)	(4,070		)	(854		)	(802		)	(6,941		)	(1,412		)
Net loss	$	(19,473	)	$	(8,897	)	$	(1,444	)	$	(1,123	)	$	(14,506	)	$	(2,400	)

Net interest yield (FTE basis)	2.07		%	2.52		%	2.30		%	2.45		%	1.46		%	2.11		%

Balance Sheet
Average
Total loans and leases	$	119,820		$	129,234		$	116,993		$	120,079		$	121,683		$	120,560
Total earning assets	154,890			185,344			139,789			149,177			158,674			172,339
Total assets	190,367			224,994			171,763			182,843			198,030			209,328
Allocated equity	16,202			26,016			14,757			14,240			17,139			18,736
Economic capital ⁽¹⁾	14,852			21,214			14,757			14,240			14,437			15,994

Period end
Total loans and leases	$	112,359		$	122,933		$	112,359		$	119,823		$	121,553		$	118,749
Total earning assets	132,381			172,082			132,381			144,831			149,908			166,265
Total assets	163,712			212,412			163,712			188,769			185,398			204,484

Period end (in billions)
Mortgage servicing portfolio ⁽²⁾	$	1,763.0		$	2,056.8		$	1,763.0		$	1,917.4		$	1,991.3		$	2,028.4

⁽¹⁾

Economic capital represents allocated equity less goodwill and a percentage of intangible assets (excluding MSRs). Economic capital is a non-GAAP financial measure. We believe the use of this non-GAAP financial measure provides additional clarity in assessing the results of the segment. Other companies may define or calculate this measure differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 25-27.)


⁽²⁾	Includes servicing of residential mortgage loans, home equity lines of credit, home equity loans and discontinued real estate mortgage loans.



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	10



Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Annual Results ⁽¹⁾
(Dollars in millions)
	Year Ended December 31, 2011
	Total Consumer Real Estate Services			Home Loans		Legacy Assets & Servicing
Net interest income (FTE basis)	$	3,207		$	1,828	$	1,379
Noninterest income:
Mortgage banking income (loss)	(8,193		)	2,502		(10,695		)
Insurance income	750			750		—
All other income	1,082			972		110
Total noninterest income (loss)	(6,361		)	4,224		(10,585		)
Total revenue, net of interest expense (FTE basis)	(3,154		)	6,052		(9,206		)
Provision for credit losses	4,524			234		4,290
Goodwill impairment	2,603			—		2,603
Noninterest expense	19,201			4,659		14,542
Income (loss) before income taxes	(29,482		)	1,159		(30,641		)
Income tax expense (benefit) (FTE basis)	(10,009		)	426		(10,435		)
Net income (loss)	$	(19,473	)	$	733	$	(20,206	)

Balance Sheet
Average
Total loans and leases	$	119,820		$	54,783	$	65,037
Total earning assets	154,890			70,613		84,277
Total assets	190,367			71,644		118,723
Allocated equity	16,202			n/a		n/a
Economic capital ⁽²⁾	14,852			n/a		n/a

Period end
Total loans and leases	$	112,359		$	52,371	$	59,988
Total earning assets	132,381			58,823		73,558
Total assets	163,712			59,660		104,052

For footnotes including a description of the business activities within Consumer Real Estate Services, see page 13.



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	11



Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Quarterly Results ⁽¹⁾
(Dollars in millions)
	Fourth Quarter 2011
	Total Consumer Real Estate Services			Home Loans			Legacy Assets & Servicing
Net interest income (FTE basis)	$	809		$	384		$	425
Noninterest income:
Mortgage banking income	2,330			508			1,822
Insurance loss	(3		)	(3		)	—
All other income	140			99			41
Total noninterest income	2,467			604			1,863
Total revenue, net of interest expense (FTE basis)	3,276			988			2,288
Provision for credit losses	1,001			63			938
Noninterest expense	4,573			749			3,824
Income (loss) before income taxes	(2,298		)	176			(2,474		)
Income tax expense (benefit) (FTE basis)	(854		)	66			(920		)
Net income (loss)	$	(1,444	)	$	110		$	(1,554	)

Balance Sheet
Average
Total loans and leases	$	116,993		$	54,301		$	62,692
Total earning assets	139,789			63,738			76,051
Total assets	171,763			65,004			106,759
Allocated equity	14,757			n/a			n/a
Economic capital ⁽²⁾	14,757			n/a			n/a

Period end
Total loans and leases	$	112,359		$	52,371		$	59,988
Total earning assets	132,381			58,823			73,558
Total assets	163,712			59,660			104,052

	Third Quarter 2011
	Total Consumer Real Estate Services			Home Loans			Legacy Assets & Servicing
Net interest income (FTE basis)	$	923		$	446		$	477
Noninterest income:
Mortgage banking income	1,800			732			1,068
Insurance income	23			23			—
All other income	76			43			33
Total noninterest income	1,899			798			1,101
Total revenue, net of interest expense (FTE basis)	2,822			1,244			1,578
Provision for credit losses	918			50			868
Noninterest expense	3,829			1,099			2,730
Income (loss) before income taxes	(1,925		)	95			(2,020		)
Income tax expense (benefit) (FTE basis)	(802		)	33			(835		)
Net income (loss)	$	(1,123	)	$	62		$	(1,185	)

Balance Sheet
Average
Total loans and leases	$	120,079		$	54,802		$	65,277
Total earning assets	149,177			68,764			80,413
Total assets	182,843			71,379			111,464
Allocated equity	14,240			n/a			n/a
Economic capital ⁽²⁾	14,240			n/a			n/a

Period end
Total loans and leases	$	119,823		$	55,171		$	64,652
Total earning assets	144,831			66,619			78,212
Total assets	188,769			79,650			109,119

For footnotes including a description of the business activities within Consumer Real Estate Services, see page 13.



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	12



Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Quarterly Results ⁽¹⁾(continued)
(Dollars in millions)
	Second Quarter 2011
	Total Consumer Real Estate Services			Home Loans		Legacy Assets & Servicing
Net interest income (FTE basis)	$	579		$	450	$	129
Noninterest income:
Mortgage banking income (loss)	(13,018		)	695		(13,713		)
Insurance income	299			299		—
All other income	825			799		26
Total noninterest income (loss)	(11,894		)	1,793		(13,687		)
Total revenue, net of interest expense (FTE basis)	(11,315		)	2,243		(13,558		)
Provision for credit losses	1,507			121		1,386
Goodwill Impairment	2,603			—		2,603
Noninterest expense	6,022			1,332		4,690
Income (loss) before income taxes	(21,447		)	790		(22,237		)
Income tax expense (benefit) (FTE basis)	(6,941		)	291		(7,232		)
Net income (loss)	$	(14,506	)	$	499	$	(15,005	)

Balance Sheet
Average
Total loans and leases	$	121,683		$	55,270	$	66,413
Total earning assets	158,674			71,879		86,795
Total assets	198,030			72,085		125,945
Allocated equity	17,139			n/a		n/a
Economic capital ⁽²⁾	14,437			n/a		n/a

Period end
Total loans and leases	$	121,553		$	55,283	$	66,270
Total earning assets	149,908			69,651		80,257
Total assets	185,398			70,280		115,118

	First Quarter 2011
	Total Consumer Real Estate Services			Home Loans		Legacy Assets & Servicing
Net interest income (FTE basis)	$	896		$	548	$	348
Noninterest income:
Mortgage banking income	695			567		128
Insurance income	431			431		—
All other income	41			31		10
Total noninterest income	1,167			1,029		138
Total revenue, net of interest expense (FTE basis)	2,063			1,577		486
Provision for credit losses	1,098			—		1,098
Noninterest expense	4,777			1,479		3,298
Income (loss) before income taxes	(3,812		)	98		(3,910		)
Income tax expense (benefit) (FTE basis)	(1,412		)	36		(1,448		)
Net income (loss)	$	(2,400	)	$	62	$	(2,462	)

Balance Sheet
Average
Total loans and leases	$	120,560		$	54,763	$	65,797
Total earning assets	172,339			78,250		94,089
Total assets	209,328			78,256		131,072
Allocated equity	18,736			n/a		n/a
Economic capital ⁽²⁾	15,994			n/a		n/a

Period end
Total loans and leases	$	118,749		$	54,423	$	64,326
Total earning assets	166,265			72,862		93,403
Total assets	204,484			72,189		132,295

⁽¹⁾

Consumer Real Estate Services includes Home Loans and Legacy Assets & Servicing. The results of certain mortgage servicing right activities, including net hedge results which were previously included in Home Loans, together with any related assets or liabilities used as economic hedges are included in Legacy Assets & Servicing. The goodwill asset and related impairment charge that was recorded in 2011 are included in Legacy Assets & Servicing.

⁽²⁾

n/a = not applicable



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	13



Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Key Indicators
(Dollars in millions, except as noted)
	Year Ended December 31								Fourth Quarter 2011				Third Quarter 2011				Second Quarter 2011				First Quarter 2011
	2011				2010				Fourth Quarter 2011				Third Quarter 2011				Second Quarter 2011				First Quarter 2011
Mortgage servicing rights at fair value rollforward:
Balance, beginning of period	$	14,900			$	19,465			$	7,881			$	12,372			$	15,282			$	14,900
Net additions	760				3,515				(290		)		33				176				841
Impact of customer payments ⁽¹⁾	(2,621		)		(3,759		)		(612		)		(664		)		(639		)		(706		)
Other changes in mortgage servicing rights fair value ⁽²⁾	(5,661		)		(4,321		)		399				(3,860		)		(2,447		)		247
Balance, end of period	$	7,378			$	14,900			$	7,378			$	7,881			$	12,372			$	15,282

Capitalized mortgage servicing rights (% of loans serviced for investors)	54			bps	92			bps	54			bps	52			bps	78			bps	95			bps
Mortgage loans serviced for investors (in billions)	$	1,379			$	1,628			$	1,379			$	1,512			$	1,578			$	1,610

Loan production:
Consumer Real Estate Services
First mortgage	$	139,273			$	287,236			$	18,053			$	30,448			$	38,253			$	52,519
Home equity	3,694				7,626				580				660				879				1,575
Total Corporation ⁽³⁾
First mortgage	151,756				298,038				21,614				33,038				40,370				56,734
Home equity	4,388				8,437				759				847				1,054				1,728

Mortgage banking income (loss)
Production income (loss):
Core production revenue	$	2,797			$	6,182			$	502			$	803			$	824			$	668
Representations and warranties provision	(15,591		)		(6,785		)		(263		)		(278		)		(14,037		)		(1,013		)
Total production income (loss)	(12,794		)		(603		)		239				525				(13,213		)		(345		)
Servicing income:
Servicing fees	5,959				6,475				1,333				1,464				1,556				1,606
Impact of customer payments ⁽¹⁾	(2,621		)		(3,759		)		(612		)		(664		)		(639		)		(706		)
Fair value changes of mortgage servicing rights, net of economic hedge results ⁽⁴⁾	656				376				1,165				361				(873		)		3
Other servicing-related revenue	607				675				205				114				151				137
Total net servicing income	4,601				3,767				2,091				1,275				195				1,040
Total Consumer Real Estate Services mortgage banking income (loss)	(8,193		)		3,164				2,330				1,800				(13,018		)		695
Other business segments’ mortgage banking loss ⁽⁵⁾	(637		)		(430		)		(211		)		(183		)		(178		)		(65		)
Total consolidated mortgage banking income (loss)	$	(8,830	)		$	2,734			$	2,119			$	1,617			$	(13,196	)		$	630


⁽¹⁾	Represents the change in the market value of the mortgage servicing rights asset due to the impact of customer payments received during the year.


⁽²⁾	These amounts reflect the change in discount rates and prepayment speed assumptions, mostly due to changes in interest rates, as well as the effect of changes in other assumptions.


⁽³⁾	In addition to loan production in Consumer Real Estate Services, the remaining first mortgage and home equity loan production is primarily in GWIM.


⁽⁴⁾	Includes sale of mortgage servicing rights.


⁽⁵⁾	Includes the effect of transfers of mortgage loans from Consumer Real Estate Services to the asset and liability management portfolio included in All Other.



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	14



Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
	2011			2010			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net interest income (FTE basis)	$	9,490		$	10,064		$	2,309		$	2,323		$	2,376		$	2,482
Noninterest income:
Service charges	3,425			3,656			803			830			877			915
Investment banking fees	3,061			2,982			629			616			948			868
All other income	1,342			1,046			262			183			460			437
Total noninterest income	7,828			7,684			1,694			1,629			2,285			2,220
Total revenue, net of interest expense (FTE basis)	17,318			17,748			4,003			3,952			4,661			4,702

Provision for credit losses	(1,118		)	1,298			(256		)	(182		)	(557		)	(123		)

Noninterest expense	8,888			8,672			2,137			2,219			2,223			2,309
Income before income taxes	9,548			7,778			2,122			1,915			2,995			2,516
Income tax expense (FTE basis)	3,501			2,887			785			710			1,074			932
Net income	$	6,047		$	4,891		$	1,337		$	1,205		$	1,921		$	1,584

Net interest yield (FTE basis)	3.26		%	3.76		%	3.04		%	3.05		%	3.33		%	3.66		%
Return on average allocated equity	12.58			9.20			11.34			9.89			16.14			13.00
Return on average economic capital ⁽¹⁾	26.59			17.47			25.06			20.87			34.06			26.46
Efficiency ratio (FTE basis)	51.32			48.86			53.37			56.14			47.71			49.11

Balance Sheet
Average
Total loans and leases	$	265,560		$	260,970		$	276,844		$	268,170		$	260,132		$	256,846
Total earnings assets ⁽²⁾	291,234			267,325			301,448			301,853			285,808			275,424
Total assets ⁽²⁾	338,455			312,922			348,469			349,237			332,361			323,357
Total deposits	237,193			203,459			240,732			246,291			235,699			225,785
Allocated equity	48,059			53,169			46,762			48,356			47,735			49,407
Economic capital ⁽¹⁾	22,761			28,064			21,187			22,957			22,631			24,299

Period end
Total loans and leases	$	278,177		$	254,841		$	278,177		$	273,549		$	263,066		$	257,468
Total earnings assets ⁽²⁾	302,353			261,902			302,353			294,072			294,164			279,134
Total assets ⁽²⁾	350,148			311,788			350,148			342,038			341,587			327,611
Total deposits	246,466			217,262			246,466			236,264			243,885			229,199

⁽¹⁾

Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provide additional clarity in assessing the results of the segments. Other companies may define or calculate this measure differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 25-27.)


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits).



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	15



Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
	2011			2010			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Investment Banking fees ⁽¹⁾
Advisory ⁽²⁾	$	1,182		$	934		$	265		$	260		$	356		$	301
Debt issuance	1,294			1,433			255			230			420			389
Equity issuance	585			615			109			126			172			178
Total Investment Banking fees⁽³⁾	$	3,061		$	2,982		$	629		$	616		$	948		$	868

Business Lending
Corporate	$	3,246		$	3,459		$	694		$	777		$	788		$	987
Commercial	4,953			5,507			1,177			1,169			1,369			1,238
Total Business Lending revenue⁽³⁾	$	8,199		$	8,966		$	1,871		$	1,946		$	2,157		$	2,225

Treasury Services
Corporate	$	2,507		$	2,296		$	632		$	616		$	638		$	621
Commercial	3,532			3,414			909			856			912			855
Total Treasury Services revenue ⁽³⁾	$	6,039		$	5,710		$	1,541		$	1,472		$	1,550		$	1,476

Average deposit balances
Interest-bearing	$	90,095		$	86,848		$	78,598		$	90,689		$	96,731		$	94,532
Noninterest-bearing	147,098			116,611			162,134			155,602			138,968			131,253
Total average deposits	$	237,193		$	203,459		$	240,732		$	246,291		$	235,699		$	225,785

Loan spread	2.03		%	2.12		%	1.85		%	1.97		%	2.02		%	2.33		%

Provision for credit losses	$	(1,118	)	$	1,298		$	(256	)	$	(182	)	$	(557	)	$	(123	)

Credit quality ^{(4, 5)}
Reservable utilized criticized exposure	$	20,072		$	32,751		$	20,072		$	22,859		$	26,813		$	30,336
	6.12		%	10.30		%	6.12		%	7.03		%	8.42		%	9.52		%

Nonperforming loans, leases and foreclosed properties	$	4,646		$	7,366		$	4,646		$	5,377		$	5,984		$	6,791
	1.70		%	2.92		%	1.70		%	2.00		%	2.31		%	2.67		%

Average loans and leases by product
U.S. commercial	$	119,833		$	116,342		$	124,882		$	119,155		$	118,160		$	117,057
Commercial real estate	37,665			49,136			34,604			36,458			38,770			40,913
Commercial lease financing	23,166			23,392			23,050			23,101			23,041			23,478
Non-U.S. commercial	42,589			26,544			50,878			47,181			39,089			32,961
Direct/Indirect consumer	42,288			45,532			43,427			42,253			41,048			42,412
Other	19			24			3			22			24			25
Total average loans and leases	$	265,560		$	260,970		$	276,844		$	268,170		$	260,132		$	256,846

Total Corporation-wide Investment Banking fees
Advisory ⁽²⁾	$	1,248		$	1,019		$	273		$	273		$	382		$	320
Debt issuance	2,888			3,267			589			515			939			845
Equity issuance	1,453			1,498			267			316			422			448
Total investment banking fees	5,589			5,784			1,129			1,104			1,743			1,613
Self-Led	(372		)	(264		)	(116		)	(162		)	(59		)	(35		)
Total Investment Banking fees	$	5,217		$	5,520		$	1,013		$	942		$	1,684		$	1,578


⁽¹⁾	Includes self-led deals and represents fees attributable to Global Banking under an internal sharing arrangement.


⁽²⁾	Advisory includes fees on debt and equity advisory and mergers and acquisitions.


⁽³⁾	Total Global Banking revenue includes certain insignificant items that are not included in Investment Banking fees, Business Lending revenue or Treasury Services revenue.

⁽⁴⁾

Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure is on an end-of-period basis and is also shown as a percentage of total reservable commercial utilized credit exposure, including loans and leases, standby letters of credit, financial guarantees, commercial letters of credit and bankers' acceptances.


⁽⁵⁾	Nonperforming loans, leases and foreclosed properties are on an end-of-period basis. The nonperforming ratio is nonperforming assets divided by commercial loans and leases plus commercial foreclosed properties.



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	16



Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
	2011			2010			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net interest income (FTE basis)	$	3,682		$	4,332		$	863		$	925		$	874		$	1,020
Noninterest income:
Investment and brokerage services	2,235			2,312			447			584			557			647
Investment banking fees	2,212			2,456			424			438			699			651
Trading account profits	6,424			9,630			370			1,422			2,016			2,616
All other income (loss)	232			388			(299		)	(74		)	267			338
Total noninterest income	11,103			14,786			942			2,370			3,539			4,252
Total revenue, net of interest expense (FTE basis) ⁽¹⁾	14,785			19,118			1,805			3,295			4,413			5,272

Provision for credit losses	(56		)	30			(18		)	3			(8		)	(33		)

Noninterest expense	12,236			11,769			2,893			2,966			3,263			3,114
Income (loss) before income taxes	2,605			7,319			(1,070		)	326			1,158			2,191
Income tax expense (benefit) (FTE basis)	1,620			3,073			(302		)	878			247			797
Net income (loss)	$	985		$	4,246		$	(768	)	$	(552	)	$	911		$	1,394

Return on average allocated equity	4.48		%	13.06		%	n/m			n/m			16.38		%	22.02		%
Return on average economic capital ⁽²⁾	5.53			14.72			n/m			n/m			19.99			25.99
Efficiency ratio (FTE basis)	82.76			61.56			n/m			90.01		%	73.94			59.06

Balance Sheet
Average
Total trading-related assets ⁽³⁾	$	472,444		$	506,508		$	444,319		$	489,172		$	499,274		$	456,966
Total earning assets⁽³⁾	445,531			508,920			414,141			445,435			457,857			465,255
Total assets	589,753			644,561			552,190			603,661			622,251			581,074
Allocated equity	21,995			32,518			19,130			20,934			22,315			25,687
Economic capital ⁽²⁾	18,045			28,932			15,154			16,954			18,345			21,814

Period end
Total trading-related assets ⁽³⁾	$	397,876		$	417,157		$	397,876		$	446,697		$	444,556		$	454,855
Total earning assets⁽³⁾	372,852			416,315			372,852			413,677			405,396			461,427
Total assets	501,150			537,270			501,150			552,097			560,684			576,487

Trading-related assets (average)
Trading account securities	$	197,735		$	201,754		$	172,955		$	199,201		$	213,631		$	205,497
Reverse repurchases	165,447			184,700			162,507			174,574			173,270			151,211
Securities borrowed	48,050			54,576			46,476			46,930			53,756			45,033
Derivative assets	61,212			65,478			62,381			68,467			58,617			55,225
Total trading-related assets ⁽³⁾	$	472,444		$	506,508		$	444,319		$	489,172		$	499,274		$	456,966


⁽¹⁾	Substantially all of Global Markets total revenue is sales and trading revenue and investment banking fees, with a small portion related to certain revenue sharing agreements with other business segments. For additional sales and trading revenue information, see page 18.

⁽²⁾


⁽³⁾	Trading-related assets includes assets which are not considered earning assets (i.e., derivative assets).

n/m = not meaningful



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	17



Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	Year Ended December 31				Fourth Quarter 2011			Third Quarter 2011		Second Quarter 2011		First Quarter 2011
	2011		2010		Fourth Quarter 2011			Third Quarter 2011		Second Quarter 2011		First Quarter 2011
Sales and trading revenue
Fixed income, currency and commodities	$	8,901	$	12,585	$	809		$	2,059	$	2,643	$	3,390
Equity income	3,943		4,101		670			957		1,077		1,239
Total sales and trading revenue	$	12,844	$	16,686	$	1,479		$	3,016	$	3,720	$	4,629

Sales and trading revenue breakdown
Net interest income	$	3,682	$	4,332	$	863		$	925	$	874	$	1,020
Commissions	2,235		2,312		447			584		557		647
Trading	6,424		9,630		370			1,422		2,016		2,616
Other	503		412		(201		)	85		273		346
Total sales and trading revenue	$	12,844	$	16,686	$	1,479		$	3,016	$	3,720	$	4,629



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	18



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
	2011			2010			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net interest income (FTE basis)	$	6,052		$	5,682		$	1,496		$	1,412		$	1,573		$	1,571
Noninterest income:
Investment and brokerage services	9,310			8,660			2,190			2,364			2,378			2,378
All other income	2,034			1,949			481			462			544			547
Total noninterest income	11,344			10,609			2,671			2,826			2,922			2,925
Total revenue, net of interest expense (FTE basis)	17,396			16,291			4,167			4,238			4,495			4,496

Provision for credit losses	398			646			118			162			72			46

Noninterest expense	14,357			13,209			3,637			3,507			3,624			3,589
Income before income taxes	2,641			2,436			412			569			799			861
Income tax expense (FTE basis)	969			1,083			153			211			286			319
Net income	$	1,672		$	1,353		$	259		$	358		$	513		$	542

Net interest yield (FTE basis)	2.24		%	2.31		%	2.24		%	2.07		%	2.34		%	2.30		%
Return on average allocated equity	9.40			7.49			5.78			7.97			11.71			12.26
Return on average economic capital ⁽¹⁾	24.00			19.74			14.73			20.30			30.45			30.98
Efficiency ratio (FTE basis)	82.53			81.08			87.25			82.74			80.64			79.83

Balance Sheet
Average
Total loans and leases	$	102,144		$	99,269		$	102,709		$	102,786		$	102,201		$	100,852
Total earning assets ⁽²⁾	270,658			246,428			265,122			271,207			269,208			277,222
Total assets ⁽²⁾	290,565			267,365			284,629			290,974			289,262			297,531
Total deposits	254,997			232,519			250,040			255,882			255,432			258,719
Allocated equity	17,790			18,070			17,845			17,826			17,560			17,932
Economic capital ⁽¹⁾	7,094			7,292			7,182			7,135			6,854			7,204

Period end
Total loans and leases	$	103,460		$	100,725		$	103,460		$	102,362		$	102,878		$	101,287
Total earning assets ⁽²⁾	263,586			275,520			263,586			260,940			264,104			265,005
Total assets ⁽²⁾	284,062			296,478			284,062			280,897			284,504			285,690
Total deposits	253,264			258,210			253,264			251,251			255,796			256,751

⁽¹⁾


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits).



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	19



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management - Key Indicators and Metrics
(Dollars in millions, except as noted)
	Year Ended December 31						Fourth Quarter 2011		Third Quarter 2011			Second Quarter 2011			First Quarter 2011
	2011			2010			Fourth Quarter 2011		Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Revenues
Merrill Lynch Global Wealth Management	$	14,616		$	13,500		$	3,463	$	3,594		$	3,770		$	3,789
U.S. Trust	2,693			2,661			679		626			706			682
Other ⁽¹⁾	87			130			25		18			19			25
Total revenues	$	17,396		$	16,291		$	4,167	$	4,238		$	4,495		$	4,496

Client Balances
Client Balances by Business
Merrill Lynch Global Wealth Management	$	1,749,059		$	1,766,368		$	1,749,059	$	1,686,404		$	1,795,860		$	1,813,547
U.S. Trust	324,003			340,360			324,003		315,244			341,924			345,111
Other ⁽¹⁾	66,182			78,275			66,182		65,153			67,875			71,759

Client Balances by Type
Assets under management	$	647,126		$	643,343		$	647,126	$	616,899		$	661,010		$	664,554
Client brokerage assets	1,024,193			1,064,516			1,024,193		986,718			1,065,996			1,087,536
Assets in custody	107,989			114,721			107,989		106,293			116,499			116,816
Client deposits	253,264			258,210			253,264		251,251			255,796			256,751
Loans and leases ⁽²⁾	106,672			104,213			106,672		105,640			106,358			104,760
Total client balances	$	2,139,244		$	2,185,003		$	2,139,244	$	2,066,801		$	2,205,659		$	2,230,417

Assets Under Management Flows ⁽³⁾
Liquidity assets under management ⁽⁴⁾	$	(11,969	)	$	(41,715	)	$	1,029	$	(2,568	)	$	(3,771	)	$	(6,659	)
Long-term assets under management ⁽⁵⁾	27,649			12,033			4,462		4,493			4,535			14,159
Total assets under management flows	$	15,680		$	(29,682	)	$	5,491	$	1,925		$	764		$	7,500

Associates ⁽⁶⁾
Number of Financial Advisors	17,308			15,611			17,308		17,094			16,443			15,797
Total Wealth Advisors	18,667			17,041			18,667		18,498			17,836			17,217
Total Client Facing Professionals	21,784			20,143			21,784		21,624			20,957			20,347

Merrill Lynch Global Wealth Management Metrics
Financial Advisory Productivity ⁽⁷⁾ (in thousands)	$	942		$	916		$	881	$	921		$	965		$	1,005

U.S. Trust Metrics
Client Facing Professionals	2,247			2,311			2,247		2,270			2,279			2,312


⁽¹⁾	Other includes the results of BofA Global Capital Management (the former Columbia cash management business) and other administrative items.


⁽²⁾	Includes margin receivables which are classified in other assets on the Consolidated Balance Sheet.


⁽³⁾	Includes the Columbia Management long-term asset management business through the date of sale on May 1, 2010.


⁽⁴⁾	Defined as assets under advisory and discretion of GWIM in which the investment strategy seeks a high level of income while maintaining liquidity and capital preservation. The duration of these strategies is less than one year.


⁽⁵⁾	Defined as assets under advisory and discretion of GWIM in which the duration of the investment strategy is longer than one year.


⁽⁶⁾	Includes Merrill Edge ^®


⁽⁷⁾	Financial Advisor Productivity is defined as annualized MLGWM total revenue divided by the total number of financial advisors (excluding Merrill Edge Financial Advisors). Total revenue excludes corporate allocation of net interest income related to certain ALM activities.



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	20



Bank of America Corporation and Subsidiaries
All Other Results ⁽¹⁾
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
	2011			2010			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net interest income (FTE basis)	$	1,780		$	3,655		$	403		$	7		$	542		$	828
Noninterest income:
Card income ⁽²⁾	465			615			90			72			149			154
Equity investment income	7,044			4,574			3,110			1,380			1,139			1,415
Gains on sales of debt securities	3,098			2,313			1,102			697			831			468
All other income (loss)	2,821			(1,434		)	(415		)	4,114			(111		)	(767		)
Total noninterest income	13,428			6,068			3,887			6,263			2,008			1,270
Total revenue, net of interest expense (FTE basis)	15,208			9,723			4,290			6,270			2,550			2,098

Provision for credit losses	6,172			6,324			792			1,374			1,841			2,165

Goodwill impairment	581			—			581			—			—			—
Merger and restructuring charges	638			1,820			101			176			159			202
All other noninterest expense	4,066			4,253			1,174			574			587			1,731
Income (loss) before income taxes	3,751			(2,674		)	1,642			4,146			(37		)	(2,000		)
Income tax expense (benefit) (FTE basis)	(1,012		)	(3,977		)	278			(532		)	130			(888		)
Net income (loss)	$	4,763		$	1,303		$	1,364		$	4,678		$	(167	)	$	(1,112	)

Balance sheet
Average
Total loans and leases	$	283,890		$	281,642		$	272,808		$	286,753		$	287,840		$	288,301
Total assets ⁽³⁾	369,659			473,253			335,718			355,794			374,513			413,619
Total deposits	49,267			66,882			46,055			52,846			48,072			50,107
Allocated equity ⁽⁴⁾	72,141			38,884			76,736			68,672			77,759			65,307

Period end
Total loans and leases	$	267,621		$	285,086		$	267,621		$	274,268		$	287,425		$	286,531
Total assets ⁽⁵⁾	309,471			395,975			309,471			336,265			367,840			353,412
Total deposits	32,729			48,767			32,729			53,248			43,908			36,154

⁽¹⁾

All Other consists of two broad groupings, Equity Investments and Other. Equity Investments includes Global Principal Investments, Strategic and other investments, and Corporate Investments. Substantially all of the equity investments in Corporate Investments were sold during 2010. Other includes liquidating businesses, merger and restructuring charges, ALM functions (i.e., residential mortgage portfolio and investment securities) and related activities (i.e., economic hedges, fair value option on structured liabilities), and the impact of certain allocation methodologies. Other also includes certain residential mortgage and discontinued real estate products that are managed by Legacy Assets & Servicing within Consumer Real Estate Services.


⁽²⁾	During the third quarter of 2011, the international consumer card business results were moved to All Other from Consumer & Business Banking and prior periods were reclassified.


⁽³⁾	Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) of $591.4 billion and $546.2 billion for the years ended December 31, 2011 and 2010; $580.5 billion, $602.4 billion, $596.4 billion and $586.1 billion for the fourth, third, second and first quarters of 2011, respectively.


⁽⁴⁾	Represents both the risk-based capital and the portion of goodwill and intangibles assigned to All Other as well as the remaining portion of equity not specifically allocated to the business segments.


⁽⁵⁾	Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) of $580.7 billion, $581.2 billion, $596.0 billion, $593.1 billion and $565.0 billion at December 31, 2011, September 30, 2011, June 30, 2011, March 31, 2011 and December 31, 2010, respectively.



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	21



Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment
(Dollars in millions)
	Fourth Quarter 2011
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services		Global Banking		Global Markets			GWIM		All Other
Consumer
Residential mortgage	$	266,144	$	—	$	1,106	$	—	$	95		$	37,025	$	227,918
Home equity	126,251		—		111,138		—		—			14,805		308
Discontinued real estate	14,073		—		2,848		—		—			—		11,225
U.S. credit card	102,241		102,241		—		—		—			—		—
Non-U.S. credit card	15,981		—		—		—		—			—		15,981
Direct/Indirect consumer	90,861		8,546		93		43,427		726			31,984		6,085
Other consumer	2,751		654		—		3		—			13		2,081
Total consumer	618,302		111,441		115,185		43,430		821			83,827		263,598

Commercial
U.S. commercial	196,778		33,217		1,807		124,882		11,432			17,111		8,329
Commercial real estate	40,673		2,477		1		34,604		428			1,589		1,574
Commercial lease financing	21,278		—		—		23,050		—			4		(1,776		)
Non-U.S. commercial	55,867		15		—		50,878		(12,681		)	178		17,477
Total commercial	314,596		35,709		1,808		233,414		(821		)	18,882		25,604
Total loans and leases	$	932,898	$	147,150	$	116,993	$	276,844		n/m		$	102,709	$	289,202

	Third Quarter 2011
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services		Global Banking		Global Markets			GWIM		All Other
Consumer
Residential mortgage	$	268,494	$	—	$	1,196	$	—	$	99		$	36,656	$	230,543
Home equity	129,125		—		112,781		17		—			15,029		1,298
Discontinued real estate	15,923		—		4,052		—		—			—		11,871
U.S. credit card	103,671		103,671		—		—		—			—		—
Non-U.S. credit card	25,434		—		—		—		—			—		25,434
Direct/Indirect consumer	90,280		9,492		100		42,253		505			31,390		6,540
Other consumer	2,795		1,745		—		5		—			14		1,031
Total consumer	635,722		114,908		118,129		42,275		604			83,089		276,717

Commercial
U.S. commercial	191,439		34,040		1,948		119,155		9,590			17,829		8,877
Commercial real estate	42,931		2,526		2		36,458		432			1,653		1,860
Commercial lease financing	21,342		—		—		23,101		2			19		(1,780		)
Non-U.S. commercial	50,598		18		—		47,181		(10,628		)	196		13,831
Total commercial	306,310		36,584		1,950		225,895		(604		)	19,697		22,788
Total loans and leases	$	942,032	$	151,492	$	120,079	$	268,170		n/m		$	102,786	$	299,505



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	22



Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment (continued)
(Dollars in millions)
	Second Quarter 2011
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services			Global Banking		Global Markets			GWIM		All Other
Consumer
Residential mortgage	$	265,420	$	—	$	1,167		$	—	$	101		$	36,367	$	227,785
Home equity	131,786		—		115,250			15		—			15,248		1,273
Discontinued real estate	15,997		—		3,548			—		—			—		12,449
U.S. credit card	106,164		106,164		—			—		—			—		—
Non-U.S. credit card	27,259		—		—			—		—			—		27,259
Direct/Indirect consumer	89,403		10,564		94			41,048		559			30,231		6,907
Other consumer	2,745		1,692		—			9		—			18		1,026
Total consumer	638,774		118,420		120,059			41,072		660			81,864		276,699

Commercial
U.S. commercial	190,479		34,118		1,619			118,160		8,885			18,322		9,375
Commercial real estate	45,762		2,567		5			38,770		445			1,792		2,183
Commercial lease financing	21,284		—		—			23,041		1			34		(1,792		)
Non-U.S. commercial	42,214		17		—			39,089		(9,991		)	189		12,910
Total commercial	299,739		36,702		1,624			219,060		(660		)	20,337		22,676
Total loans and leases	$	938,513	$	155,122	$	121,683		$	260,132		n/m		$	102,201	$	299,375

	First Quarter 2011
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services			Global Banking		Global Markets			GWIM		All Other
Consumer
Residential mortgage	$	262,049	$	—	$	—		$	—	$	99		$	35,752	$	226,198
Home equity	136,089		—		119,123			13		—			15,686		1,267
Discontinued real estate	12,899		—		—			—		—			—		12,899
U.S. credit card	109,941		109,941		—			—		—			—		—
Non-U.S. credit card	27,633		—		—			—		—			—		27,633
Direct/Indirect consumer	90,097		11,839		97			42,412		366			28,110		7,273
Other consumer	2,753		1,660		(16		)	12		—			17		1,080
Total consumer	641,461		123,440		119,204			42,437		465			79,565		276,350

Commercial
U.S. commercial	191,353		34,886		1,349			117,057		8,989			19,355		9,717
Commercial real estate	48,359		2,618		7			40,913		459			1,731		2,631
Commercial lease financing	21,634		—		—			23,478		—			34		(1,878		)
Non-U.S. commercial	36,159		32		—			32,961		(9,913		)	167		12,912
Total commercial	297,505		37,536		1,356			214,409		(465		)	21,287		23,382
Total loans and leases	$	938,966	$	160,976	$	120,560		$	256,846		n/m		$	100,852	$	299,732



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	23



Bank of America Corporation and Subsidiaries
Net Charge-offs and Net Charge-off Ratios ⁽¹⁾
(Dollars in millions)
	Year Ended December 31								Fourth Quarter 2011				Third Quarter 2011				Second Quarter 2011				First Quarter 2011
	2011				2010				Fourth Quarter 2011				Third Quarter 2011				Second Quarter 2011				First Quarter 2011
	Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent		Amount			Percent
Consumer & Business Banking	$	9,768	6.36	%	$	18,219	10.37	%	$	1,925	5.19	%	$	2,179	5.71	%	$	2,598	6.72	%	$	3,066		7.72	%
Consumer Real Estate Services	4,257		3.66		6,487		5.02		894		3.14		1,036		3.58		1,213		4.16		1,114			3.75
Global Banking	1,258		0.48		2,892		1.12		304		0.45		374		0.56		184		0.29		396			0.63
Global Markets	9		0.07		70		0.61		10		0.26		—		—		—		—		(1		)	(0.03	)
Global Wealth & Investment Management	465		0.46		477		0.48		113		0.44		135		0.52		129		0.50		88			0.36
All Other	5,076		1.79		6,189		2.20		808		1.17		1,362		1.89		1,541		2.15		1,365			1.92
Total net charge-offs	$	20,833	2.24		$	34,334	3.60		$	4,054	1.74		$	5,086	2.17		$	5,665	2.44		$	6,028		2.61


⁽¹⁾	Net charge-off ratios are calculated as net charge-offs, annualized for the quarterly periods, divided by average outstanding loans and leases excluding loans accounted for under the fair value option for each loan and lease category.



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	24



Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)

The Corporation evaluates its business based on a fully taxable-equivalent basis, a non-GAAP financial measure. The Corporation believes managing the business with net interest income on a fully taxable-equivalent basis provides a more accurate picture of the interest margin for comparative purposes. Total revenue, net of interest expense, includes net interest income on a fully taxable-equivalent basis and noninterest income. To derive the fully taxable-equivalent basis, net interest income is adjusted to reflect tax exempt income on an equivalent before-tax basis with a corresponding increase in income tax expense. This measure ensures comparability of net interest income arising from taxable and tax-exempt sources.

In addition, the Corporation evaluates its business segment results based on return on average economic capital, a non-GAAP financial measure. Return on average economic capital for the segments is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents average allocated equity less goodwill and a percentage of intangible assets. It also believes the use of this non-GAAP financial measure provides additional clarity in assessing the segments.

See the tables below and on pages 26-27 for reconciliations of these non-GAAP financial measures with financial measures defined by GAAP for the years ended December 31, 2011 and 2010, and the three months ended December 31, 2011, September 30, 2011, June 30, 2011 and March 31, 2011. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate supplemental financial data differently.



	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011		Second Quarter 2011			First Quarter 2011
	2011			2010			Fourth Quarter 2011			Third Quarter 2011		Second Quarter 2011			First Quarter 2011

Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis

Net interest income	$	44,616		$	51,523		$	10,701		$	10,490	$	11,246		$	12,179
Fully taxable-equivalent adjustment	972			1,170			258			249		247			218
Net interest income on a fully taxable-equivalent basis	$	45,588		$	52,693		$	10,959		$	10,739	$	11,493		$	12,397

Reconciliation of total revenue, net of interest expense to total revenue, net of interest expense on a fully taxable-equivalent basis

Total revenue, net of interest expense	$	93,454		$	110,220		$	24,888		$	28,453	$	13,236		$	26,877
Fully taxable-equivalent adjustment	972			1,170			258			249		247			218
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	94,426		$	111,390		$	25,146		$	28,702	$	13,483		$	27,095

Reconciliation of total noninterest expense to total noninterest expense, excluding goodwill impairment charges

Total noninterest expense	$	80,274		$	83,108		$	19,522		$	17,613	$	22,856		$	20,283
Goodwill impairment charges	(3,184		)	(12,400		)	(581		)	—		(2,603		)	—
Total noninterest expense, excluding goodwill impairment charges	$	77,090		$	70,708		$	18,941		$	17,613	$	20,253		$	20,283

Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent basis

Income tax expense (benefit)	$	(1,676	)	$	915		$	441		$	1,201	$	(4,049	)	$	731
Fully taxable-equivalent adjustment	972			1,170			258			249		247			218
Income tax expense (benefit) on a fully taxable-equivalent basis	$	(704	)	$	2,085		$	699		$	1,450	$	(3,802	)	$	949



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	25



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
	2011			2010			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Reconciliation of return on average economic capital

Consumer & Business Banking

Reported net income (loss)	$	7,452		$	(5,134	)	$	1,243		$	1,666		$	2,502		$	2,041
Adjustment related to intangibles ⁽¹⁾	20			81			5			6			2			7
Goodwill impairment charges	—			10,400			—			—			—			—
Adjusted net income	$	7,472		$	5,347		$	1,248		$	1,672		$	2,504		$	2,048

Average allocated equity	$	52,908		$	64,578		$	53,005		$	52,382		$	52,559		$	53,700
Adjustment related to goodwill and a percentage of intangibles	(30,635		)	(37,718		)	(30,587		)	(30,601		)	(30,655		)	(30,698		)
Average economic capital	$	22,273		$	26,860		$	22,418		$	21,781		$	21,904		$	23,002

Consumer Real Estate Services

Reported net loss	$	(19,473	)	$	(8,897	)	$	(1,444	)	$	(1,123	)	$	(14,506	)	$	(2,400	)
Adjustment related to intangibles ⁽¹⁾	—			3			—			—			—			—
Goodwill impairment charges	2,603			2,000			—			—			2,603			—
Adjusted net loss	$	(16,870	)	$	(6,894	)	$	(1,444	)	$	(1,123	)	$	(11,903	)	$	(2,400	)

Average allocated equity	$	16,202		$	26,016		$	14,757		$	14,240		$	17,139		$	18,736
Adjustment related to goodwill and a percentage of intangibles, excluding MSRs	(1,350		)	(4,802		)	—			—			(2,702		)	(2,742		)
Average economic capital	$	14,852		$	21,214		$	14,757		$	14,240		$	14,437		$	15,994

Global Banking

Reported net income	$	6,047		$	4,891		$	1,337		$	1,205		$	1,921		$	1,584
Adjustment related to intangibles ⁽¹⁾	6			10			1			2			1			2
Adjusted net income	$	6,053		$	4,901		$	1,338		$	1,207		$	1,922		$	1,586

Average allocated equity	$	48,059		$	53,169		$	46,762		$	48,356		$	47,735		$	49,407
Adjustment related to goodwill and a percentage of intangibles	(25,298		)	(25,105		)	(25,575		)	(25,399		)	(25,104		)	(25,108		)
Average economic capital	$	22,761		$	28,064		$	21,187		$	22,957		$	22,631		$	24,299

Global Markets

Reported net income (loss)	$	985		$	4,246		$	(768	)	$	(552	)	$	911		$	1,394
Adjustment related to intangibles ⁽¹⁾	12			13			3			3			3			3
Adjusted net income (loss)	$	997		$	4,259		$	(765	)	$	(549	)	$	914		$	1,397

Average allocated equity	$	21,995		$	32,518		$	19,130		$	20,934		$	22,315		$	25,687
Adjustment related to goodwill and a percentage of intangibles	(3,950		)	(3,586		)	(3,976		)	(3,980		)	(3,970		)	(3,873		)
Average economic capital	$	18,045		$	28,932		$	15,154		$	16,954		$	18,345		$	21,814

Global Wealth & Investment Management

Reported net income	$	1,672		$	1,353		$	259		$	358		$	513		$	542
Adjustment related to intangibles ⁽¹⁾	30			86			7			7			7			9
Adjusted net income	$	1,702		$	1,439		$	266		$	365		$	520		$	551

Average allocated equity	$	17,790		$	18,070		$	17,845		$	17,826		$	17,560		$	17,932
Adjustment related to goodwill and a percentage of intangibles	(10,696		)	(10,778		)	(10,663		)	(10,691		)	(10,706		)	(10,728		)
Average economic capital	$	7,094		$	7,292		$	7,182		$	7,135		$	6,854		$	7,204

For footnote see page 27.



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	26



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
	2011			2010			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Consumer & Business Banking

Deposits

Reported net income	$	1,227		$	1,391		$	149		$	285		$	432		$	361
Adjustment related to intangibles ⁽¹⁾	3			11			1			1			—			1
Adjusted net income	$	1,230		$	1,402		$	150		$	286		$	432		$	362

Average allocated equity	$	23,735		$	24,222		$	23,862		$	23,820		$	23,612		$	23,641
Adjustment related to goodwill and a percentage of intangibles	(17,949		)	(17,975		)	(17,939		)	(17,947		)	(17,950		)	(17,958		)
Average economic capital	$	5,786		$	6,247		$	5,923		$	5,873		$	5,662		$	5,683

Card Services

Reported net income (loss)	$	5,811		$	(6,962	)	$	1,029		$	1,267		$	1,944		$	1,571
Adjustment related to intangibles ⁽¹⁾	17			70			4			5			2			6
Goodwill impairment charges	—			10,400			—			—			—			—
Adjusted net income	$	5,828		$	3,508		$	1,033		$	1,272		$	1,946		$	1,577

Average allocated equity	$	21,127		$	32,416		$	20,610		$	20,755		$	21,016		$	22,149
Adjustment related to goodwill and a percentage of intangibles	(10,589		)	(17,644		)	(10,549		)	(10,561		)	(10,607		)	(10,640		)
Average economic capital	$	10,538		$	14,772		$	10,061		$	10,194		$	10,409		$	11,509

Business Banking

Reported net income	$	414		$	437		$	65		$	114		$	126		$	109
Adjustment related to intangibles ⁽¹⁾	—			—			—			—			—			—
Adjusted net income	$	414		$	437		$	65		$	114		$	126		$	109

Average allocated equity	$	8,046		$	7,940		$	8,533		$	7,807		$	7,931		$	7,910
Adjustment related to goodwill and a percentage of intangibles	(2,097		)	(2,099		)	(2,099		)	(2,093		)	(2,098		)	(2,100		)
Average economic capital	$	5,949		$	5,841		$	6,434		$	5,714		$	5,833		$	5,810


⁽¹⁾	Represents cost of funds, earnings credits and certain expenses related to intangibles.



Certain prior period amounts have been reclassified among the segments to conform to the current period presentation. This segment information is preliminary and based on company data available at the time of this filing.	27

BANK OF AMERICA CORP /DE/ - FORM 8-K - EX-99.1 - REVISED SUPPLEMENTAL INFORMATION - April 11, 2012

Attached files