Bank of America Corporation (BAC) financial statements (2021 and earlier)

Company profile

Business Address BANK OF AMERICA CORPORATE CENTER
CHARLOTTE, NC 28255
State of Incorp. DE
Fiscal Year End December 31
SIC 6021 - National Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments380,463161,560177,404366,792327,947335,880330,374
Cash and cash equivalents380,463161,560177,404157,434147,738159,353138,589
Short-term investments   209,358180,209176,527191,785
Disposal group, including discontinued operation      12,836
Total current assets:380,463161,560177,404366,792327,947335,880343,210
Noncurrent Assets
Operating lease, right-of-use asset10,0009,700
Property, plant and equipment11,00010,5619,9069,2479,1399,48510,049
Intangible assets, net (including goodwill)71,15170,65170,72571,26371,89173,52974,389
Goodwill68,95168,95168,95168,95168,96969,76169,777
Intangible assets, net (excluding goodwill)2,2001,7001,7742,3122,9223,7684,612
Total noncurrent assets:92,15190,91280,63180,51081,03083,01484,438
Other undisclosed assets2,347,0132,181,6072,096,4721,833,9321,778,7251,725,4221,676,886
TOTAL ASSETS:2,819,6272,434,0792,354,5072,281,2342,187,7022,144,3162,104,534
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt19,32124,20420,18932,66623,94428,098232,435
Total current liabilities:19,32124,20420,18932,66623,94428,098232,435
Noncurrent Liabilities
Other undisclosed liabilities2,527,3822,145,0652,068,9931,981,4221,896,9181,860,0131,628,628
Total liabilities:2,546,7032,169,2692,089,1822,014,0881,920,8621,888,1111,861,063
Stockholders' equity
Stockholders' equity attributable to parent, including:272,924264,810265,325267,146266,840256,205243,471
Accumulated other comprehensive loss(1,656)(6,633)(12,211)(7,082)(7,288)(5,674)(4,320)
Retained earnings164,088156,319136,314113,816101,87088,56475,024
Other undisclosed stockholders' equity attributable to parent110,492115,124141,222160,412172,258173,315172,767
Total stockholders' equity:272,924264,810265,325267,146266,840256,205243,471
TOTAL LIABILITIES AND EQUITY:2,819,6272,434,0792,354,5072,281,2342,187,7022,144,3162,104,534

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues85,52891,24491,24787,35283,70182,50784,247
Net investment income34,93247,92950,23442,63437,46736,08438,304
Brokerage commissions revenue  14,160
Financial services revenue34,50234,98935,77537,473
Cost of revenue(10,565)(3,590)(3,282)(3,396)(3,597)(3,161)(2,275)
Provision for loan, lease, and other losses(10,565)(3,590)(3,282)
Financial services costs(3,396)(3,597)(3,161)(2,275)
Gross profit:74,96387,65487,96583,95680,10479,34681,972
Operating expenses(15,758)(14,765)(11,360)(43,123)(43,811)(45,808)(64,421)
Other operating income, net
(Noninterest Income, Other Operating Income)
      1,203
Operating income:59,20572,88976,60540,83336,29333,53818,754
Nonoperating income
(Investment Income, Nonoperating)
      1,338
Interest and debt expense(8,225)(22,345)(729)(12,912)(9,961)(10,549)(10,934)
Income from continuing operations before equity method investments, income taxes:50,98050,54475,87627,92126,33222,9899,158
Other undisclosed income (loss) from continuing operations before income taxes(31,985)(17,790)(41,292)1,292(1,179)(835)(2,303)
Income from continuing operations before income taxes:18,99532,75434,58429,21325,15322,1546,855
Income tax expense(1,101)(5,324)(6,437)(10,981)(7,247)(6,266)(2,022)
Net income attributable to parent:17,89427,43028,14718,23217,90615,8884,833
Preferred stock dividends and other adjustments(1,421)(1,432)(1,451)(1,614)(1,682)(1,483)(1,044)
Net income available to common stockholders, basic:16,47325,99826,69616,61816,22414,4053,789
Dilutive securities, effect on basic earnings per share   186300300 
Net income available to common stockholders, diluted:16,47325,99826,69616,80416,52414,7053,789

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:17,89427,43028,14718,23217,90615,8884,833
Other comprehensive income (loss)(115)194(521)405(809)(63)(1,557)
Comprehensive income:17,77927,62427,62618,63717,09715,8253,276
Other undisclosed comprehensive income (loss), net of tax, attributable to parent5,0925,384(3,395)(199)(1,121)(65)5,694
Comprehensive income, net of tax, attributable to parent:22,87133,00824,23118,43815,97615,7608,970

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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