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
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments380,463301,006289,346250,390161,560157,094171,394
Cash and cash equivalents380,463301,006289,346250,390161,560157,094171,394
Total current assets:380,463301,006289,346250,390161,560157,094171,394
Noncurrent Assets
Operating lease, right-of-use asset10,0009,90010,00010,1009,700  
Property, plant and equipment11,00010,90210,79010,79210,56110,49310,426
Intangible assets, net (including goodwill)71,15171,15170,55170,55170,65170,65170,651
Goodwill68,95168,95168,95168,95168,95168,95168,951
Intangible assets, net (excluding goodwill)2,2002,2001,6001,6001,7001,7001,700
Total noncurrent assets:92,15191,95391,34191,44390,91281,14481,077
Other undisclosed assets2,347,0132,345,4932,361,0012,278,1212,181,6072,188,0922,143,421
TOTAL ASSETS:2,819,6272,738,4522,741,6882,619,9542,434,0792,426,3302,395,892
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt19,32117,86117,99830,11824,20430,68227,244
Total current liabilities:19,32117,86117,99830,11824,20430,68227,244
Noncurrent Liabilities
Other undisclosed liabilities2,527,3822,451,7412,458,0532,324,9182,145,0652,127,2612,097,240
Total liabilities:2,546,7032,469,6022,476,0512,355,0362,169,2692,157,9432,124,484
Stockholders' equity
Stockholders' equity attributable to parent, including:272,924268,850265,637264,918264,810268,387271,408
Accumulated other comprehensive loss(1,656)(978)(1,162)(120)(6,633)(5,617)(7,477)
Retained earnings164,088160,447157,578155,866156,319151,183147,577
Other undisclosed stockholders' equity attributable to parent110,492109,381109,221109,172115,124122,821131,308
Total stockholders' equity:272,924268,850265,637264,918264,810268,387271,408
TOTAL LIABILITIES AND EQUITY:2,819,6272,738,4522,741,6882,619,9542,434,0792,426,3302,395,892

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

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Revenues20,09920,33622,32622,76722,34922,80723,084
Net investment income 7,9498,59510,782 12,13612,251
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(85)(1,180)(4,775)(4,525)(941)(779)(857)
Gross profit:20,01419,15617,55118,24221,40822,02822,227
Operating expenses(4,205)(3,889)(3,940)(3,724)(3,808)(3,652)(3,734)
Operating income:15,80915,26713,61114,51817,60018,37618,493
Interest and debt expense(1,208)(1,357)(1,692)(3,968)(4,786)(5,729)(6,035)
Income from continuing operations before equity method investments, income taxes:14,60113,91011,91910,55012,81412,64712,458
Other undisclosed loss from continuing operations before income taxes(8,482)(9,364)(8,120)(6,019)(4,645)(5,788)(3,499)
Income from continuing operations before income taxes:6,1194,5463,7994,5318,1696,8598,959
Income tax expense (benefit)(649)335(266)(521)(1,175)(1,082)(1,611)
Net income attributable to parent:5,4704,8813,5334,0106,9945,7777,348
Preferred stock dividends and other adjustments(262)(441)(249)(469)(246)(505)(239)
Net income available to common stockholders, diluted:5,2084,4403,2843,5416,7485,2727,109

Comprehensive Income ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Net income:5,4704,8813,5334,0106,9945,7777,348
Other undisclosed comprehensive income (loss)(115)   194  
Comprehensive income:5,3554,8813,5334,0107,1885,7777,348
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(563)184(1,042)6,513(1,210)1,8602,565
Comprehensive income, net of tax, attributable to parent:4,7925,0652,49110,5235,9787,6379,913

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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