Bank of America Corporation (BAC) Financial Statements (2024 and earlier)

Company Profile

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

Balance Sheet (Statement of Financial Position) ($ in millions)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments373,553376,218230,203204,976198,002273,934
Cash and cash equivalents373,553376,218230,203204,976198,002273,934
Financing receivable, accrued interest, after allowance for credit loss4,1004,0003,800   
Total current assets:377,653380,218234,003204,976198,002273,934
Noncurrent Assets
Operating lease, right-of-use asset9,3489,5279,7559,7439,96310,220
Property, plant and equipment11,68811,70811,51011,11711,01610,820
Intangible assets, net (including goodwill)71,02171,12271,12271,12271,12271,122
Goodwill69,02169,02269,02269,02269,02269,022
Intangible assets, net (excluding goodwill)2,0002,1002,1002,1002,1002,100
Total noncurrent assets:92,05792,35792,38791,98292,10192,162
Other undisclosed assets2,653,4882,722,0822,724,9852,775,9952,821,5032,872,127
TOTAL ASSETS:3,123,1983,194,6573,051,3753,072,9533,111,6063,238,223
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt41,01756,56426,93221,04427,88624,789
Total current liabilities:41,01756,56426,93221,04427,88624,789
Noncurrent Liabilities
Other undisclosed liabilities2,798,8622,857,8972,751,2462,782,3852,814,6022,946,817
Total liabilities:2,839,8792,914,4612,778,1782,803,4292,842,4882,971,606
Equity
Equity, attributable to parent, including:283,319280,196273,197269,524269,118266,617
Accumulated other comprehensive loss(20,742)(18,527)(21,156)(21,027)(16,674)(13,417)
Retained earnings218,397213,062207,003201,957197,159192,929
Other undisclosed equity, attributable to parent85,66485,66187,35088,59488,63387,105
Total equity:283,319280,196273,197269,524269,118266,617
TOTAL LIABILITIES AND EQUITY:3,123,1983,194,6573,051,3753,072,9533,111,6063,238,223

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues25,19726,25824,53224,50222,68823,228
Net investment income18,92516,809 11,6778,6187,345
Revenues, excluding interest and dividends3,6974,712    
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
    (845)(441)(108)
Other undisclosed gross profit   1,394   
Gross profit:25,19726,25825,92623,65722,24723,120
Operating expenses(4,460)(4,491)(4,553)(4,353)(4,264)(4,147)
Operating income:20,73721,76721,37319,30417,98318,973
Interest and debt expense(18,196)(14,207)(10,394)(5,856)(2,531)(1,322)
Income from continuing operations before equity method investments, income taxes:2,5417,56010,97913,44815,45217,651
Other undisclosed income (loss) from continuing operations before income taxes5,4931,529(3,082)(5,147)(8,560)(9,772)
Income from continuing operations before income taxes:8,0349,0897,8978,3016,8927,879
Income tax expense(626)(928)(765)(1,219)(645)(812)
Income from continuing operations:7,4088,1617,1327,0826,2477,067
Income before gain (loss) on sale of properties:7,0826,2477,067
Net income attributable to parent:7,4088,1617,1327,0826,2477,067
Preferred stock dividends and other adjustments(306)(505)(228)(503)(315)(467)
Net income available to common stockholders, basic:7,1027,6566,9046,5795,9326,600
Dilutive securities, effect on basic earnings per share  56    
Net income available to common stockholders, diluted:7,1027,7126,9046,5795,9326,600

Comprehensive Income ($ in millions)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:7,4088,1617,1327,0826,2477,067
Other undisclosed comprehensive loss   (894)   
Comprehensive income:7,4088,1616,2387,0826,2477,067
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(2,215)2,629765(4,353)(3,257)(8,313)
Comprehensive income (loss), net of tax, attributable to parent:5,19310,7907,0032,7292,990(1,246)

Statements Sources

The financial statements are based on the Company's filings with 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.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: