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Financial Statements

Bank of America Corporation

Bank of America Corporation (BAC)

Financial Services

Income Statement

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Year 2009201020112012201320142015201620172018
Revenue 119,643.00110,220.0093,454.0083,334.0088,942.0085,894.0082,965.0083,701.0087,352.0091,247.00
Cost of Revenue ----------
Gross Profit 119,643.00110,220.0093,454.0083,334.0088,942.0085,894.0082,965.0083,701.0087,352.0091,247.00
R&D Expenses ----------
Sales, General and Administrative Expense 62,014.0067,157.0074,943.0070,829.0068,128.0074,720.0057,617.0055,083.0054,743.0053,381.00
Operating Expenses 66,713.0083,108.0080,274.0072,093.0069,214.0075,656.0057,617.0055,083.0054,743.0053,381.00
Operating Income 52,930.0027,112.0013,180.0011,241.0019,728.0010,238.0025,348.0028,618.0032,609.0037,866.00
Interest Expense ----------
Earnings before Tax 4,360.00-1,323.00-230.003,072.0016,172.007,963.0022,187.0025,021.0029,213.0034,584.00
Income Tax Expense -1,916.00915.00-1,676.00-1,116.004,741.002,443.006,277.007,199.0010,981.006,437.00
Net Income 6,276.00-2,238.001,446.004,188.0011,431.005,520.0015,910.0017,822.0018,232.0028,147.00
Net Income - Non-Controlling int ----------
Net Income - Discounted ops ----------
Net Income Com -2,204.00-3,595.0085.002,760.0010,082.004,476.0014,427.0016,140.0016,618.0026,696.00
Preferred Dividends 8,480.001,357.001,361.001,428.001,349.001,044.001,483.001,682.001,614.001,451.00
Earnings Per Share Basic -0.29-0.370.010.260.940.431.381.571.632.64
Earnings Per Share Diluted -0.29-0.370.010.250.900.421.311.491.562.61
Weighted Average Shares Outstanding 7,728.579,790.4710,142.6310,746.0310,731.1710,527.8210,462.2810,284.1010,195.6010,096.50
Weighted Average Shares Outstanding (Diluted) 7,728.579,790.4710,254.8210,840.8511,491.4210,584.5311,236.2311,046.8010,778.4010,236.90
Dividend per Share 0.000.000.000.000.000.000.000.000.000.00
Gross Margin 1.001.001.001.001.001.001.001.001.001.00
EBITDA Margin 0.070.020.040.070.210.120.300.330.360.40
EBIT Margin 0.04-0.01-0.000.040.180.090.270.300.330.38
Profit Margin -0.02-0.030.000.030.110.050.170.190.190.29
Free Cash Flow margin 0.000.000.00-0.000.000.000.000.000.000.00
EBITDA 8,674.002,589.003,255.006,110.0018,855.0010,485.0024,576.0027,262.0031,316.0036,647.00
EBIT 4,360.00-1,323.00-230.003,072.0016,172.007,963.0022,187.0025,021.0029,213.0034,584.00
Consolidated Income 6,276.00-2,238.001,446.004,188.0011,431.005,520.0015,910.0017,822.0018,232.0028,147.00
Earnings Before Tax Margin 0.04-0.01-0.000.040.180.090.270.300.330.38
Net Profit Margin 0.05-0.020.020.050.130.060.190.210.210.31

Balance Sheet Statement

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Year 2009201020112012201320142015201620172018
Cash and cash equivalents 335,474.00344,476.00357,289.00349,370.00333,190.00337,922.00359,579.00355,823.00381,334.00446,029.00
Short-term investments ------200,226.00208,085.00223,900.00265,703.00
Cash and short-term investments ------559,805.00563,908.00605,234.00711,732.00
Receivables 81,996.0085,704.0066,999.0071,467.0059,448.0061,845.0058,312.0058,759.0061,623.0065,814.00
Inventories ----------
Property, Plant & Equipment Net 15,500.0014,306.0013,637.0011,858.0010,475.0010,049.009,485.009,139.009,247.009,906.00
Goodwill and Intangible Assets 118,114.0098,961.0085,498.0082,511.0080,470.0077,919.0076,616.0071,716.0068,951.0068,951.00
Long-term investments ------408,339.00433,173.00451,055.00455,765.00
Tax assets ----------
Total non-current assets ----------
Total current assets ----------
Total assets 2,230,232.002,264,909.002,129,046.002,209,974.002,102,273.002,104,534.002,144,287.002,188,067.002,281,234.002,354,507.00
Payables ----------
Short-term debt ---------37,975.00
Total current liabilities ------1,636,084.001,699,121.001,781,583.001,892,766.00
Long-term debt ------236,764.00216,823.00227,402.00191,365.00
Total debt 763,230.00753,752.00622,827.00599,575.00493,779.00475,588.00439,153.00411,058.00436,933.00436,569.00
Deferred revenue ----------
Tax Liabilities ----------
Deposit Liabilities 991,611.001,010,430.001,033,041.001,105,261.001,119,271.001,118,936.001,197,259.001,260,934.001,309,545.001,381,476.00
Total non-current liabilities ----------
Total liabilities 1,998,788.002,036,661.001,898,945.001,973,018.001,869,588.001,861,063.001,888,111.001,921,872.002,014,088.002,089,182.00
Other comprehensive income -5,619.00-66.00-5,437.00-2,797.00-8,457.00-4,320.00-5,358.00-7,288.00-7,082.00-12,211.00
Retained earnings (deficit) 71,233.0060,849.0060,520.0062,843.0072,497.0075,024.0088,219.00101,225.00113,816.00136,314.00
Total shareholders equity 231,444.00228,248.00230,101.00236,956.00232,685.00243,471.00256,176.00266,195.00267,146.00265,325.00
Investments 1,305,865.001,344,667.001,290,618.001,316,881.001,293,607.001,312,951.001,349,080.001,377,755.001,415,678.001,433,139.00
Net Debt ----------482,392.00
Other Assets ---------1,781.00
Other Liabilities ------1,636,084.001,699,121.001,781,583.001,854,791.00

Cash Flow Statement

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Year 2009201020112012201320142015201620172018
Depreciation & Amortization 4,314.003,912.003,485.003,038.002,683.002,522.002,389.002,241.002,103.002,063.00
Stock-based compensation -----78.00-89.001,367.001,649.001,729.00
Operating Cash Flow 129,731.0082,541.0064,448.00-16,056.0092,817.0030,795.0028,397.0017,277.009,864.0039,520.00
Capital Expenditure -2,240.00-987.00-1,307.005.00------
Acquisitions and disposals 31,804.002,807.00--------
Investment purchases and sales 117,115.00-33,818.0052,099.00-37,463.0025,546.00-5,756.00-55,865.00-62,693.00-59,952.00-69,482.00
Investing Cash Flow ----------
Insurance (repayment) of debt ----------
Insurance (buybacks) of shares ----------
Dividend payments -4,863.00-1,762.00-1,738.00-1,909.00-1,677.00-2,306.00-3,574.00-4,194.00-5,700.00-6,895.00
Financing Cash Flow -199,568.00-65,334.00-104,654.0042,416.00-95,442.00-12,201.0048,535.0033,153.0049,268.0053,118.00
Effect of forex changes on cash 394.00228.00-548.00-731.00-1,863.00-3,067.00-597.00240.002,105.00-1,200.00
Net cash flow / Change in cash 88,482.00-12,912.0011,675.00-9,350.0020,570.007,267.0020,764.00-11,615.009,696.0019,970.00
Free Cash Flow 127,491.0081,554.0063,141.00-16,051.0092,817.0030,795.0028,397.0017,277.009,864.0039,520.00
Net Cash/Marketcap 0.000.000.000.000.000.000.000.000.000.00

Retained Earning Schedule

Retained Earning Schedule

Year 2009201020112012201320142015201620172018
Retained Earnings (Previous Year) -71,23360,84960,52062,84372,49775,02488,219101,225113,816
Net Income 6,276-2,2381,4464,18811,4315,52015,91017,82218,23228,147
Stock Dividends 69,820-6,384-3744-100-687859-622591,246
Divident Paid -4,863-1,762-1,738-1,909-1,677-2,306-3,574-4,194-5,700-6,895
Retained Earnings 71,23360,84960,52062,84372,49775,02488,219101,225113,816136,314

PPE Schedule

Year 2009201020112012201320142015201620172018
Gross PPE -15,50014,30613,63711,85810,47510,0499,4859,1399,247
Annual Depreciation 17,740-207638-1,784-1,383-426-564-346108659
Capital Expenditure -2,240-987-1,3075------
Net PPE 15,50014,30613,63711,85810,47510,0499,4859,1399,2479,906

Intangible and Goodwill Schedule

Intangible and Goodwill Schedule

Year 2009201020112012201320142015201620172018
Intangible and Goodwill (Previous Year) -118,11498,96185,49882,51180,47077,91976,61671,71668,951
New Purchases 117,115-33,81852,099-37,46325,546-5,756-55,865-62,693-59,952-69,482
Intangible and Goodwill 118,11498,96185,49882,51180,47077,91976,61671,71668,95168,951

Bank of America Corporation income statement is the only one that provides an overview of company sales and net income
The reasoning behind the adjustment, however, is that free cash flow is meant to measure money being spent right now, not transactions that happened in the past. This makes Bank of America Corporation FCF a useful instrument for identifying growing companies with high up-front costs, which may eat into earnings now but have the potential to pay off later.