Bank of America Corporation (BAC) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments348,221380,463161,560177,404366,792327,947335,880
Cash and cash equivalents348,221380,463161,560177,404157,434147,738159,353
Short-term investments    209,358180,209176,527
Total current assets:348,221380,463161,560177,404366,792327,947335,880
Noncurrent Assets
Operating lease, right-of-use asset10,23310,0009,700
Property, plant and equipment10,83311,00010,5619,9069,2479,1399,485
Intangible assets, net (including goodwill)71,22271,15170,65170,72571,26371,89173,529
Goodwill69,02268,95168,95168,95168,95168,96969,761
Intangible assets, net (excluding goodwill)2,2002,2001,7001,7742,3122,9223,768
Total noncurrent assets:92,28892,15190,91280,63180,51081,03083,014
Other undisclosed assets2,728,9862,347,0132,181,6072,096,4721,833,9321,778,7251,725,422
TOTAL ASSETS:3,169,4952,819,6272,434,0792,354,5072,281,2342,187,7022,144,316
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt23,75319,32124,20420,18932,66623,94428,098
Total current liabilities:23,75319,32124,20420,18932,66623,94428,098
Noncurrent Liabilities
Other undisclosed liabilities2,875,6762,527,3822,145,0652,068,9931,981,4221,896,9181,860,013
Total liabilities:2,899,4292,546,7032,169,2692,089,1822,014,0881,920,8621,888,111
Stockholders' equity
Stockholders' equity attributable to parent, including:270,066272,924264,810265,325267,146266,840256,205
Accumulated other comprehensive loss(5,104)(1,656)(6,633)(12,211)(7,082)(7,288)(5,674)
Retained earnings188,064164,088156,319136,314113,816101,87088,564
Other undisclosed stockholders' equity attributable to parent87,106110,492115,124141,222160,412172,258173,315
Total stockholders' equity:270,066272,924264,810265,325267,146266,840256,205
TOTAL LIABILITIES AND EQUITY:3,169,4952,819,6272,434,0792,354,5072,281,2342,187,7022,144,316

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues89,11385,52891,24491,24787,35283,70182,507
Net investment income29,19234,93247,92950,23442,63437,46736,084
Brokerage commissions revenue   14,160
Financial services revenue34,50234,98935,775
Cost of revenue (10,565)(3,590)(3,282)(3,396)(3,597)(3,161)
Provision for loan, lease, and other losses (10,565)(3,590)(3,282)
Financial services costs(3,396)(3,597)(3,161)
Gross profit:89,11374,96387,65487,96583,95680,10479,346
Operating expenses(16,621)(15,758)(14,765)(11,360)(43,123)(43,811)(45,808)
Operating income:72,49259,20572,88976,60540,83336,29333,538
Interest and debt expense(4,738)(8,225)(22,345)(729)(12,912)(9,961)(10,549)
Income from continuing operations before equity method investments, income taxes:67,75450,98050,54475,87627,92126,33222,989
Other undisclosed income (loss) from continuing operations before income taxes(33,778)(31,985)(17,790)(41,292)1,292(1,179)(835)
Income from continuing operations before income taxes:33,97618,99532,75434,58429,21325,15322,154
Income tax expense(1,998)(1,101)(5,324)(6,437)(10,981)(7,247)(6,266)
Net income attributable to parent:31,97817,89427,43028,14718,23217,90615,888
Preferred stock dividends and other adjustments(1,421)(1,421)(1,432)(1,451)(1,614)(1,682)(1,483)
Net income available to common stockholders, basic:30,55716,47325,99826,69616,61816,22414,405
Dilutive securities, effect on basic earnings per share    186300300
Net income available to common stockholders, diluted:30,55716,47325,99826,69616,80416,52414,705

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:31,97817,89427,43028,14718,23217,90615,888
Other comprehensive income (loss)763(115)194(521)405(809)(63)
Comprehensive income:32,74117,77927,62427,62618,63717,09715,825
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(4,211)5,0925,384(3,395)(199)(1,121)(65)
Comprehensive income, net of tax, attributable to parent:28,53022,87133,00824,23118,43815,97615,760

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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