Exhibit

EX-99.3 4 bac-3312018ex993.htm THE SUPPLEMENTAL INFORMATION Exhibit

Supplemental Information

First Quarter 2018

Current period information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in Bank of America's reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which are available at the SEC's website (www.sec.gov) or at Bank of America's website (www.bankofamerica.com). Bank of America's future financial performance is subject to risks and uncertainties as described in its SEC filings.



Bank of America Corporation and Subsidiaries
Table of Contents	Page


Consolidated Financial Highlights	2
Consolidated Statement of Income	3
Consolidated Statement of Comprehensive Income	4
Consolidated Balance Sheet	5
Capital Management	7
Quarterly Average Balances and Interest Rates	8
Debt Securities	10
Supplemental Financial Data	11
Quarterly Results by Business Segment and All Other	12
Consumer Banking
Total Segment Results	14
Business Results	15
Key Indicators	17
Global Wealth & Investment Management
Total Segment Results	18
Key Indicators	19
Global Banking
Total Segment Results	20
Key Indicators	21
Investment Banking Product Rankings	22
Global Markets
Total Segment Results	23
Key Indicators	24
All Other
Total Results	25
Outstanding Loans and Leases	26
Quarterly Average Loans and Leases by Business Segment and All Other	27
Commercial Credit Exposure by Industry	28
Top 20 Non-U.S. Countries Exposure	29
Nonperforming Loans, Leases and Foreclosed Properties	30
Nonperforming Loans, Leases and Foreclosed Properties Activity	31
Quarterly Net Charge-offs and Net Charge-off Ratios	32
Allocation of the Allowance for Credit Losses by Product Type	33

Exhibit A: Non-GAAP Reconciliations	34

Effective January 1, 2018, the Corporation adopted new accounting standards, among which are: - Tax effects in accumulated other comprehensive income (OCI), which addresses certain tax effects in accumulated OCI related to the Tax Cuts and Jobs Act. In connection with the adoption, the Corporation reclassified $1.3 billion from accumulated OCI to retained earnings; - Hedge accounting, which simplifies and expands the ability to apply hedge accounting to certain risk management activities. This standard does not have a material impact on the Corporation’s Consolidated Financial Statements; - Presentation of pension costs, which requires separate presentation of the service cost component of pension expense from all other components of net pension benefit/cost. This standard requires restatement of all prior periods in the Consolidated Statement of Income and is not material to any period presented; and - Revenue from contracts with customers, which addresses the recognition of revenue for certain contracts with customers. This standard does not have a material impact on the Corporation’s Consolidated Financial Statements. The Corporation also reclassified prior periods in the Consolidated Statement of Income to include mortgage banking income and gains on sales of debt securities in other income, and in the Consolidated Balance Sheet to include mortgage servicing rights in other assets.



Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(Dollars in millions, except per share information; shares in thousands)
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017

Income statement
Net interest income	$	11,608		$	11,462		$	11,161		$	10,986		$	11,058
Noninterest income	11,517			8,974			10,678			11,843			11,190
Total revenue, net of interest expense	23,125			20,436			21,839			22,829			22,248
Provision for credit losses	834			1,001			834			726			835
Noninterest expense	13,897			13,274			13,394			13,982			14,093
Income tax expense	1,476			3,796			2,187			3,015			1,983
Net income	6,918			2,365			5,424			5,106			5,337
Preferred stock dividends	428			286			465			361			502
Net income applicable to common shareholders	6,490			2,079			4,959			4,745			4,835
Diluted earnings per common share	0.62			0.20			0.46			0.44			0.45
Average diluted common shares issued and outstanding	10,472,706			10,621,809			10,746,666			10,834,807			10,919,668
Dividends paid per common share	$	0.12		$	0.12		$	0.12		$	0.075		$	0.075

Performance ratios
Return on average assets	1.21		%	0.41		%	0.95		%	0.90		%	0.97		%
Return on average common shareholders' equity	10.85			3.29			7.89			7.75			8.09
Return on average shareholders' equity	10.57			3.43			7.88			7.56			8.09
Return on average tangible common shareholders' equity ⁽¹⁾	15.26			4.56			10.98			10.87			11.44
Return on average tangible shareholders' equity ⁽¹⁾	14.37			4.62			10.59			10.23			11.01


At period end
Book value per share of common stock	$	23.74		$	23.80		$	23.87		$	24.85		$	24.34
Tangible book value per share of common stock ⁽¹⁾	16.84			16.96			17.18			17.75			17.22
Market price per share of common stock:
Closing price	$	29.99		$	29.52		$	25.34		$	24.26		$	23.59
High closing price for the period	32.84			29.88			25.45			24.32			25.50
Low closing price for the period	29.17			25.45			22.89			22.23			22.05
Market capitalization	305,176			303,681			264,992			239,643			235,291

Number of financial centers - U.S.	4,435			4,470			4,511			4,542			4,559
Number of branded ATMs - U.S.	16,011			16,039			15,973			15,972			15,939
Headcount	207,953			209,376			209,839			210,904			210,533

⁽¹⁾

Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. Tangible book value per share provides additional useful information about the level of tangible assets in relation to outstanding shares of common stock. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 34-35.)

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	2



Bank of America Corporation and Subsidiaries
Consolidated Statement of Income
(Dollars in millions, except per share information; shares in thousands)
	First Quarter 2018		Fourth Quarter 2017			Third Quarter 2017		Second Quarter 2017		First Quarter 2017

Interest income
Loans and leases	$	9,623	$	9,344		$	9,203	$	8,920	$	8,754
Debt securities	2,804		2,707			2,629		2,594		2,541
Federal funds sold and securities borrowed or purchased under agreements to resell	622		732			659		560		439
Trading account assets	1,136		1,144			1,091		1,163		1,076
Other interest income	1,414		1,139			1,075		909		900
Total interest income	15,599		15,066			14,657		14,146		13,710

Interest expense
Deposits	760		679			624		346		282
Short-term borrowings	1,135		1,030			944		917		647
Trading account liabilities	357		314			319		307		264
Long-term debt	1,739		1,581			1,609		1,590		1,459
Total interest expense	3,991		3,604			3,496		3,160		2,652
Net interest income	11,608		11,462			11,161		10,986		11,058

Noninterest income
Card income	1,457		1,555			1,429		1,469		1,449
Service charges	1,921		1,955			1,968		1,977		1,918
Investment and brokerage services	3,664		3,522			3,437		3,460		3,417
Investment banking income	1,353		1,418			1,477		1,532		1,584
Trading account profits	2,699		1,153			1,837		1,956		2,331
Other income (loss)	423		(629		)	530		1,449		491
Total noninterest income	11,517		8,974			10,678		11,843		11,190
Total revenue, net of interest expense	23,125		20,436			21,839		22,829		22,248

Provision for credit losses	834		1,001			834		726		835

Noninterest expense
Personnel	8,480		7,605			7,811		8,040		8,475
Occupancy	1,014		1,009			999		1,001		1,000
Equipment	442		411			416		427		438
Marketing	345		511			461		442		332
Professional fees	381		471			476		485		456
Data processing	810		795			777		773		794
Telecommunications	183		161			170		177		191
Other general operating	2,242		2,311			2,284		2,637		2,407
Total noninterest expense	13,897		13,274			13,394		13,982		14,093
Income before income taxes	8,394		6,161			7,611		8,121		7,320
Income tax expense	1,476		3,796			2,187		3,015		1,983
Net income	$	6,918	$	2,365		$	5,424	$	5,106	$	5,337
Preferred stock dividends	428		286			465		361		502
Net income applicable to common shareholders	$	6,490	$	2,079		$	4,959	$	4,745	$	4,835

Per common share information
Earnings	$	0.63	$	0.20		$	0.49	$	0.47	$	0.48
Diluted earnings	0.62		0.20			0.46		0.44		0.45
Dividends paid	0.12		0.12			0.12		0.075		0.075
Average common shares issued and outstanding	10,322,394		10,470,672			10,197,891		10,013,503		10,099,557
Average diluted common shares issued and outstanding	10,472,706		10,621,809			10,746,666		10,834,807		10,919,668

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	3



Bank of America Corporation and Subsidiaries
Consolidated Statement of Comprehensive Income
(Dollars in millions)
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017
Net income	$	6,918		$	2,365		$	5,424		$	5,106		$	5,337
Other comprehensive income (loss), net-of-tax:
Net change in debt and equity securities	(3,963		)	(870		)	462			568			(99		)
Net change in debit valuation adjustments	273			(144		)	(80		)	(78		)	9
Net change in derivatives	(275		)	(92		)	24			94			38
Employee benefit plan adjustments	30			208			26			27			27
Net change in foreign currency translation adjustments	(48		)	(16		)	5			100			(3		)
Other comprehensive income (loss)	(3,983		)	(914		)	437			711			(28		)
Comprehensive income	$	2,935		$	1,451		$	5,861		$	5,817		$	5,309

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	4



Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
	March 31 2018			December 31 2017			March 31 2017
Assets
Cash and due from banks	$	26,247		$	29,480		$	28,955
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	177,994			127,954			139,070
Cash and cash equivalents	204,241			157,434			168,025
Time deposits placed and other short-term investments	8,069			11,153			11,967
Federal funds sold and securities borrowed or purchased under agreements to resell	244,630			212,747			210,733
Trading account assets	198,477			209,358			209,044
Derivative assets	47,869			37,762			40,078
Debt securities:
Carried at fair value	303,298			315,117			312,012
Held-to-maturity, at cost	123,539			125,013			116,033
Total debt securities	426,837			440,130			428,045
Loans and leases	934,078			936,749			906,242
Allowance for loan and lease losses	(10,260		)	(10,393		)	(11,112		)
Loans and leases, net of allowance	923,818			926,356			895,130
Premises and equipment, net	9,399			9,247			9,319
Goodwill	68,951			68,951			68,969
Loans held-for-sale	9,227			11,430			14,751
Customer and other receivables	58,127			61,623			59,534
Assets of business held for sale	—			—			11,025
Other assets	128,833			135,043			121,174
Total assets	$	2,328,478		$	2,281,234		$	2,247,794

Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
Trading account assets	$	6,065		$	6,521		$	5,180
Loans and leases	46,590			48,929			53,187
Allowance for loan and lease losses	(984		)	(1,016		)	(1,004		)
Loans and leases, net of allowance	45,606			47,913			52,183
Loans held-for-sale	13			27			128
All other assets	399			1,694			2,161
Total assets of consolidated variable interest entities	$	52,083		$	56,155		$	59,652

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	5



Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet (continued)
(Dollars in millions)
	March 31 2018			December 31 2017			March 31 2017
Liabilities
Deposits in U.S. offices:
Noninterest-bearing	$	434,709		$	430,650		$	436,972
Interest-bearing	811,212			796,576			762,161
Deposits in non-U.S. offices:
Noninterest-bearing	13,768			14,024			13,223
Interest-bearing	68,975			68,295			59,785
Total deposits	1,328,664			1,309,545			1,272,141
Federal funds purchased and securities loaned or sold under agreements to repurchase	178,528			176,865			186,098
Trading account liabilities	100,218			81,187			77,283
Derivative liabilities	33,900			34,300			36,428
Short-term borrowings	38,073			32,666			44,162
Accrued expenses and other liabilities (includes $782, $777 and $757 of reserve for unfunded lending commitments)	150,615			152,123			142,307
Long-term debt	232,256			227,402			221,385
Total liabilities	2,062,254			2,014,088			1,979,804
Shareholders' equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,931,683, 3,837,683 and 3,887,329 shares	24,672			22,323			25,220
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 10,175,910,851, 10,287,302,431 and 9,974,189,863 shares	133,532			138,089			144,782
Retained earnings	120,298			113,816			105,304
Accumulated other comprehensive income (loss)	(12,278		)	(7,082		)	(7,316		)
Total shareholders' equity	266,224			267,146			267,990
Total liabilities and shareholders' equity	$	2,328,478		$	2,281,234		$	2,247,794

Liabilities of consolidated variable interest entities included in total liabilities above
Short-term borrowings	$	286		$	312		$	185
Long-term debt	10,051			9,873			11,944
All other liabilities	38			37			37
Total liabilities of consolidated variable interest entities	$	10,375		$	10,222		$	12,166

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	6



Bank of America Corporation and Subsidiaries
Capital Management
(Dollars in millions)
	Basel 3
	March 31 2018			December 31 2017			March 31 2017
Risk-based capital metrics ⁽¹⁾:
Standardized Approach
Common equity tier 1 capital	$	164,828		$	168,461		$	164,333
Tier 1 capital	188,900			190,189			188,954
Total capital	223,763			224,209			223,955
Risk-weighted assets	1,451,828			1,442,721			1,416,127
Common equity tier 1 capital ratio	11.4		%	11.7		%	11.6		%
Tier 1 capital ratio	13.0			13.2			13.3
Total capital ratio	15.4			15.5			15.8

Advanced Approaches
Common equity tier 1 capital	$	164,828		$	168,461		$	164,333
Tier 1 capital	188,900			190,189			188,954
Total capital	215,247			215,311			214,817
Risk-weighted assets	1,457,566			1,458,979			1,497,553
Common equity tier 1 capital ratio	11.3		%	11.5		%	11.0		%
Tier 1 capital ratio	13.0			13.0			12.6
Total capital ratio	14.8			14.8			14.3

Leverage-based metrics ⁽²⁾
Adjusted average assets	$	2,247,448		$	2,223,482		$	2,152,232
Tier 1 leverage ratio	8.4		%	8.6		%	8.8		%

Bank Holding Company Supplementary leverage exposure	$	2,793,667		$	2,755,698		$	2,715,589
Bank Holding Company Supplementary leverage ratio	6.8		%	6.9		%	7.0		%

Tangible equity ratio ⁽³⁾	8.7			8.9			9.1
Tangible common equity ratio⁽³⁾	7.6			7.9			7.9

⁽¹⁾

As an Advanced approaches institution, we are required to report regulatory capital ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is used to assess capital adequacy, which is the Advanced approaches for the periods presented. Transition provisions of Basel 3 are fully phased-in as of January 1, 2018. Prior periods are presented on a fully phased-in basis.

⁽²⁾

The numerator of the supplementary leverage ratio (SLR) and Tier 1 leverage ratio is quarter-end Basel 3 Tier 1 capital. The denominator of supplementary leverage exposure is total leverage exposure based on the daily average of the sum of on-balance sheet exposures less permitted Tier 1 deductions, as well as the simple average of certain off-balance sheet exposures, as of the end of each month in a quarter. Off-balance sheet exposures primarily include undrawn lending commitments, letters of credit, potential future derivative exposures and repo-style transactions. SLR requirements became effective on January 1, 2018.

⁽³⁾

Tangible equity ratio equals period-end tangible shareholders' equity divided by period-end tangible assets. Tangible common equity ratio equals period-end tangible common shareholders' equity divided by period-end tangible assets. Tangible shareholders' equity and tangible assets are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on pages 34-35.)

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	7



Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	First Quarter 2018						Fourth Quarter 2017						First Quarter 2017
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	$	140,247	$	422	1.22	%	$	128,708	$	336	1.04	%	$	123,921	$	202	0.66	%
Time deposits placed and other short-term investments	10,786		61		2.31		12,979		68		2.06		11,497		47		1.65
Federal funds sold and securities borrowed or purchased under agreements to resell	248,320		622		1.02		224,490		528		0.93		216,402		356		0.67
Trading account assets	131,123		1,147		3.54		130,370		1,183		3.61		125,661		1,111		3.58
Debt securities	433,096		2,830		2.58		441,624		2,751		2.48		430,234		2,573		2.38
Loans and leases ⁽¹⁾:
Residential mortgage	204,830		1,782		3.48		202,155		1,749		3.46		193,627		1,661		3.44
Home equity	56,952		643		4.56		59,059		641		4.32		65,508		639		3.94
U.S. credit card	94,423		2,313		9.93		93,531		2,299		9.75		89,628		2,111		9.55
Non-U.S. credit card ⁽²⁾	—		—		—		—		—		—		9,367		211		9.15
Direct/Indirect consumer	92,478		701		3.07		93,547		693		2.94		93,291		608		2.65
Other consumer	2,814		27		4.00		2,566		31		4.71		2,547		27		4.07
Total consumer	451,497		5,466		4.89		450,858		5,413		4.78		453,968		5,257		4.68
U.S. commercial	299,850		2,717		3.68		297,851		2,598		3.46		287,468		2,222		3.14
Non-U.S. commercial	99,504		738		3.01		98,692		680		2.73		92,821		595		2.60
Commercial real estate	59,231		587		4.02		58,983		571		3.84		57,764		479		3.36
Commercial lease financing	21,833		175		3.20		21,406		159		2.98		22,123		231		4.17
Total commercial	480,418		4,217		3.56		476,932		4,008		3.34		460,176		3,527		3.11
Total loans and leases ⁽²⁾	931,915		9,683		4.20		927,790		9,421		4.04		914,144		8,784		3.88
Other earning assets	84,345		984		4.72		84,087		901		4.25		73,514		760		4.19
Total earning assets⁽³⁾	1,979,832		15,749		3.21		1,950,048		15,188		3.09		1,895,373		13,833		2.96
Cash and due from banks	26,275						28,114						27,196
Other assets, less allowance for loan and lease losses	319,771						323,525						309,080
Total assets	$	2,325,878					$	2,301,687					$	2,231,649


⁽¹⁾	Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis. Purchased credit-impaired loans are recorded at fair value upon acquisition and accrete interest income over the estimated life of the loan.


⁽²⁾	The first quarter of 2017 includes assets of the Corporation's non-U.S. consumer credit card business, which was sold during the second quarter of 2017.


⁽³⁾	The impact of interest rate risk management derivatives on interest income is presented below. Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on:



	First Quarter 2018				Fourth Quarter 2017				First Quarter 2017
Federal funds sold and securities borrowed or purchased under agreements to resell		$	5			$	16			$	15
Debt securities		(3		)		(2		)		(22		)
U.S. commercial loans and leases		(9		)		(10		)		(10		)
Net hedge expense on assets		$	(7	)		$	4			$	(17	)

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	8



Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	First Quarter 2018						Fourth Quarter 2017						First Quarter 2017
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	54,747	$	1	0.01	%	$	54,090	$	1	0.01	%	$	52,193	$	1	0.01	%
NOW and money market deposit accounts	659,033		406		0.25		645,639		361		0.22		617,749		74		0.05
Consumer CDs and IRAs	41,313		33		0.33		42,595		29		0.28		46,711		31		0.27
Negotiable CDs, public funds and other deposits	40,639		157		1.56		39,200		133		1.35		33,695		52		0.63
Total U.S. interest-bearing deposits	795,732		597		0.30		781,524		524		0.27		750,348		158		0.09
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	2,243		9		1.67		1,844		5		0.96		2,616		5		0.76
Governments and official institutions	1,154		—		0.02		1,016		3		1.06		1,013		2		0.81
Time, savings and other	67,334		154		0.92		67,252		147		0.87		58,418		117		0.81
Total non-U.S. interest-bearing deposits	70,731		163		0.93		70,112		155		0.88		62,047		124		0.81
Total interest-bearing deposits	866,463		760		0.36		851,636		679		0.32		812,395		282		0.14
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities	278,931		1,135		1.65		270,403		901		1.32		266,837		573		0.87
Trading account liabilities	55,362		357		2.62		49,643		314		2.51		38,731		264		2.76
Long-term debt	229,603		1,739		3.06		227,644		1,581		2.77		221,468		1,459		2.65
Total interest-bearing liabilities ⁽¹⁾	1,430,359		3,991		1.13		1,399,326		3,475		0.99		1,339,431		2,578		0.78
Noninterest-bearing sources:
Noninterest-bearing deposits	430,805						441,936						444,237
Other liabilities	199,234						187,263						180,281
Shareholders' equity	265,480						273,162						267,700
Total liabilities and shareholders' equity	$	2,325,878					$	2,301,687					$	2,231,649
Net interest spread					2.08	%					2.10	%					2.18	%
Impact of noninterest-bearing sources					0.31						0.29						0.21
Net interest income/yield on earning assets			$	11,758	2.39	%			$	11,713	2.39	%			$	11,255	2.39	%


⁽¹⁾	The impact of interest rate risk management derivatives on interest expense is presented below. Interest expense includes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:



	First Quarter 2018				Fourth Quarter 2017				First Quarter 2017
Consumer CDs and IRAs		$	5			$	5			$	6
Negotiable CDs, public funds and other deposits		3				3				3
Banks located in non-U.S. countries		5				5				5
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities		29				30				92
Long-term debt		(246		)		(379		)		(530		)
Net hedge income on liabilities		$	(204	)		$	(336	)		$	(424	)

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	9



Bank of America Corporation and Subsidiaries
Debt Securities
(Dollars in millions)
	March 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	189,426	$	168	$	(5,483	)	$	184,111
Agency-collateralized mortgage obligations	6,525		15		(142		)	6,398
Commercial	13,998		1		(440		)	13,559
Non-agency residential	2,354		260		(10		)	2,604
Total mortgage-backed securities	212,303		444		(6,075		)	206,672
U.S. Treasury and agency securities	54,753		13		(1,794		)	52,972
Non-U.S. securities	6,918		7		—			6,925
Other taxable securities, substantially all asset-backed securities	4,619		100		(5		)	4,714
Total taxable securities	278,593		564		(7,874		)	271,283
Tax-exempt securities	19,133		58		(114		)	19,077
Total available-for-sale debt securities	297,726		622		(7,988		)	290,360
Other debt securities carried at fair value	12,682		291		(35		)	12,938
Total debt securities carried at fair value	310,408		913		(8,023		)	303,298
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	123,539		12		(4,419		)	119,132
Total debt securities	$	433,947	$	925	$	(12,442	)	$	422,430

	December 31, 2017
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	194,119	$	506	$	(1,696	)	$	192,929
Agency-collateralized mortgage obligations	6,846		39		(81		)	6,804
Commercial	13,864		28		(208		)	13,684
Non-agency residential	2,410		267		(8		)	2,669
Total mortgage-backed securities	217,239		840		(1,993		)	216,086
U.S. Treasury and agency securities	54,523		18		(1,018		)	53,523
Non-U.S. securities	6,669		9		(1		)	6,677
Other taxable securities, substantially all asset-backed securities	5,699		73		(2		)	5,770
Total taxable securities	284,130		940		(3,014		)	282,056
Tax-exempt securities	20,541		138		(104		)	20,575
Total available-for-sale debt securities	304,671		1,078		(3,118		)	302,631
Other debt securities carried at fair value	12,273		252		(39		)	12,486
Total debt securities carried at fair value	316,944		1,330		(3,157		)	315,117
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	125,013		111		(1,825		)	123,299
Total debt securities	$	441,957	$	1,441	$	(4,982	)	$	438,416
Available-for-sale marketable equity securities ⁽¹⁾	$	27	$	—	$	(2	)	$	25


⁽¹⁾	Classified in other assets on the Consolidated Balance Sheet.



Other Debt Securities Carried at Fair Value
(Dollars in millions)	March 31 2018		December 31 2017
Mortgage-backed securities:
Agency-collateralized mortgage obligations	$	—	$	5
Non-agency residential	2,736		2,764
Total mortgage-backed securities	2,736		2,769
Non-U.S. securities ⁽¹⁾	9,976		9,488
Other taxable securities, substantially all asset-backed securities	226		229
Total	$	12,938	$	12,486


⁽¹⁾	These securities are primarily used to satisfy certain international regulatory liquidity requirements.

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	10



Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions)



Fully taxable-equivalent (FTE) basis data ⁽¹⁾	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017

Net interest income	$	11,758		$	11,713		$	11,401		$	11,223		$	11,255
Total revenue, net of interest expense	23,275			20,687			22,079			23,066			22,445
Net interest yield	2.39		%	2.39		%	2.36		%	2.34		%	2.39		%
Efficiency ratio	59.71			64.16			60.67			60.62			62.79

⁽¹⁾

FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. The Corporation believes that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 34-35.)

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	11



Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other
(Dollars in millions)
	First Quarter 2018
	Total Corporation			Consumer Banking		GWIM		Global Banking		Global Markets			All Other
Net interest income (FTE basis)	$	11,758		$	6,510	$	1,594	$	2,640	$	870		$	144
Card income	1,457			1,279		21		135		22			—
Service charges	1,921			1,044		19		763		90			5
Investment and brokerage services	3,664			82		3,040		25		488			29
Investment banking income (loss)	1,353			—		84		744		609			(84		)
Trading account profits (loss)	2,699			2		29		61		2,703			(96		)
Other income (loss)	423			115		69		566		4			(331		)
Total noninterest income	11,517			2,522		3,262		2,294		3,916			(477		)
Total revenue, net of interest expense (FTE basis)	23,275			9,032		4,856		4,934		4,786			(333		)
Provision for credit losses	834			935		38		16		(3		)	(152		)
Noninterest expense	13,897			4,480		3,428		2,195		2,818			976
Income (loss) before income taxes (FTE basis)	8,544			3,617		1,390		2,723		1,971			(1,157		)
Income tax expense (benefit) (FTE basis)	1,626			922		355		707		513			(871		)
Net income (loss)	$	6,918		$	2,695	$	1,035	$	2,016	$	1,458		$	(286	)

Average
Total loans and leases	$	931,915		$	279,557	$	159,095	$	351,689	$	73,763		$	67,811
Total assets ⁽¹⁾	2,325,878			746,647		279,716		420,594		678,368			200,553
Total deposits	1,297,268			674,351		243,077		324,405		32,320			23,115
Period end
Total loans and leases	$	934,078		$	279,055	$	159,636	$	355,165	$	75,638		$	64,584
Total assets ⁽¹⁾	2,328,478			774,256		279,331		424,134		648,605			202,152
Total deposits	1,328,664			701,488		241,531		331,238		32,301			22,106

	Fourth Quarter 2017
	Total Corporation			Consumer Banking		GWIM		Global Banking		Global Markets			All Other
Net interest income (FTE basis)	$	11,713		$	6,354	$	1,520	$	2,719	$	932		$	188
Card income	1,555			1,354		43		134		24			—
Service charges	1,955			1,071		19		774		84			7
Investment and brokerage services	3,522			84		2,920		24		501			(7		)
Investment banking income (loss)	1,418			—		71		811		597			(61		)
Trading account profits	1,153			1		25		51		1,075			1
Other income (loss)	(629		)	91		85		506		183			(1,494		)
Total noninterest income	8,974			2,601		3,163		2,300		2,464			(1,554		)
Total revenue, net of interest expense (FTE basis)	20,687			8,955		4,683		5,019		3,396			(1,366		)
Provision for credit losses	1,001			886		6		132		162			(185		)
Noninterest expense	13,274			4,507		3,473		2,161		2,614			519
Income (loss) before income taxes (FTE basis)	6,412			3,562		1,204		2,726		620			(1,700		)
Income tax expense (FTE basis)	4,047			1,365		462		1,046		210			964
Net income (loss)	$	2,365		$	2,197	$	742	$	1,680	$	410		$	(2,664	)

Average
Total loans and leases	$	927,790		$	275,716	$	157,063	$	350,262	$	73,552		$	71,197
Total assets ⁽¹⁾	2,301,687			737,755		276,153		419,513		659,411			208,855
Total deposits	1,293,572			665,536		240,126		329,761		34,250			23,899
Period end
Total loans and leases	$	936,749		$	280,473	$	159,378	$	350,668	$	76,778		$	69,452
Total assets ⁽¹⁾	2,281,234			749,325		284,321		424,533		629,007			194,048
Total deposits	1,309,545			676,530		246,994		329,273		34,029			22,719


⁽¹⁾	Total assets include asset allocations to match liabilities (i.e., deposits).

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	12



Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other (continued)
(Dollars in millions)
	First Quarter 2017
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets			All Other
Net interest income (FTE basis)	$	11,255	$	5,781	$	1,560	$	2,602	$	1,049		$	263
Card income	1,449		1,224		36		125		22			42
Service charges	1,918		1,050		20		765		77			6
Investment and brokerage services	3,417		82		2,791		17		531			(4		)
Investment banking income (loss)	1,584		—		51		925		666			(58		)
Trading account profits	2,331		—		59		32		2,177			63
Other income (loss)	491		147		75		489		186			(406		)
Total noninterest income	11,190		2,503		3,032		2,353		3,659			(357		)
Total revenue, net of interest expense (FTE basis)	22,445		8,284		4,592		4,955		4,708			(94		)
Provision for credit losses	835		838		23		17		(17		)	(26		)
Noninterest expense	14,093		4,410		3,329		2,163		2,757			1,434
Income (loss) before income taxes (FTE basis)	7,517		3,036		1,240		2,775		1,968			(1,502		)
Income tax expense (benefit) (FTE basis)	2,180		1,144		467		1,046		671			(1,148		)
Net income (loss)	$	5,337	$	1,892	$	773	$	1,729	$	1,297		$	(354	)

Average
Total loans and leases	$	914,144	$	257,945	$	148,405	$	342,857	$	70,064		$	94,873
Total assets ⁽¹⁾	2,231,649		707,647		293,432		415,908		607,010			207,652
Total deposits	1,256,632		635,594		257,386		305,197		33,158			25,297
Period end
Total loans and leases ⁽²⁾	$	915,747	$	258,421	$	149,110	$	344,452	$	71,053		$	92,711
Total assets ⁽¹⁾	2,247,794		734,087		291,177		416,763		604,014			201,753
Total deposits	1,272,141		661,607		254,595		297,163		33,629			25,147


⁽¹⁾	Total assets include asset allocations to match liabilities (i.e., deposits).


⁽²⁾	Includes $9.5 billion of non-U.S. credit card loans, which were included in assets of business held for sale on the Consolidated Balance Sheet and in All Other at March 31, 2017, and sold in the second quarter of 2017.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	13



Bank of America Corporation and Subsidiaries
Consumer Banking Segment Results
(Dollars in millions)
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017

Net interest income (FTE basis)	$	6,510		$	6,354		$	6,212		$	5,961		$	5,781
Noninterest income:
Card income	1,279			1,354			1,243			1,248			1,224
Service charges	1,044			1,071			1,082			1,061			1,050
All other income	199			176			237			239			229
Total noninterest income	2,522			2,601			2,562			2,548			2,503
Total revenue, net of interest expense (FTE basis)	9,032			8,955			8,774			8,509			8,284

Provision for credit losses	935			886			967			834			838

Noninterest expense	4,480			4,507			4,460			4,411			4,410
Income before income taxes (FTE basis)	3,617			3,562			3,347			3,264			3,036
Income tax expense (FTE basis)	922			1,365			1,260			1,233			1,144
Net income	$	2,695		$	2,197		$	2,087		$	2,031		$	1,892

Net interest yield (FTE basis)	3.73		%	3.61		%	3.56		%	3.48		%	3.50		%
Return on average allocated capital ⁽¹⁾	30			24			22			22			21
Efficiency ratio (FTE basis)	49.60			50.33			50.83			51.84			53.24

Balance Sheet
Average
Total loans and leases	$	279,557		$	275,716		$	268,810		$	261,537		$	257,945
Total earning assets⁽²⁾	707,754			699,004			692,122			686,064			668,865
Total assets ⁽²⁾	746,647			737,755			731,077			724,753			707,647
Total deposits	674,351			665,536			658,974			652,787			635,594
Allocated capital ⁽¹⁾	37,000			37,000			37,000			37,000			37,000

Period end
Total loans and leases	$	279,055		$	280,473		$	272,360		$	265,938		$	258,421
Total earning assets⁽²⁾	735,247			709,832			703,277			696,350			694,883
Total assets ⁽²⁾	774,256			749,325			742,513			735,176			734,087
Total deposits	701,488			676,530			669,647			662,678			661,607


⁽¹⁾	Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	14



Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results
(Dollars in millions)
	First Quarter 2018
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	6,510		$	3,741		$	2,769
Noninterest income:
Card income	1,279			2			1,277
Service charges	1,044			1,044			—
All other income	199			108			91
Total noninterest income	2,522			1,154			1,368
Total revenue, net of interest expense (FTE basis)	9,032			4,895			4,137

Provision for credit losses	935			41			894

Noninterest expense	4,480			2,651			1,829
Income before income taxes (FTE basis)	3,617			2,203			1,414
Income tax expense (FTE basis)	922			561			361
Net income	$	2,695		$	1,642		$	1,053

Net interest yield (FTE basis)	3.73		%	2.25		%	4.09		%
Return on average allocated capital ⁽¹⁾	30			55			17
Efficiency ratio (FTE basis)	49.60			54.15			44.21

Balance Sheet
Average
Total loans and leases	$	279,557		$	5,170		$	274,387
Total earning assets ⁽²⁾	707,754			673,641			274,748
Total assets ⁽²⁾	746,647			701,418			285,864
Total deposits	674,351			668,983			5,368
Allocated capital ⁽¹⁾	37,000			12,000			25,000

Period end
Total loans and leases	$	279,055		$	5,111		$	273,944
Total earning assets ⁽²⁾	735,247			700,420			274,977
Total assets ⁽²⁾	774,256			728,063			286,343
Total deposits	701,488			695,514			5,974

	Fourth Quarter 2017
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	6,354		$	3,549		$	2,805
Noninterest income:
Card income	1,354			2			1,352
Service charges	1,071			1,071			—
All other income	176			99			77
Total noninterest income	2,601			1,172			1,429
Total revenue, net of interest expense (FTE basis)	8,955			4,721			4,234

Provision for credit losses	886			53			833

Noninterest expense	4,507			2,678			1,829
Income before income taxes (FTE basis)	3,562			1,990			1,572
Income tax expense (FTE basis)	1,365			763			602
Net income	$	2,197		$	1,227		$	970

Net interest yield (FTE basis)	3.61		%	2.12		%	4.10		%
Return on average allocated capital ⁽¹⁾	24			41			15
Efficiency ratio (FTE basis)	50.33			56.73			43.20

Balance Sheet
Average
Total loans and leases	$	275,716		$	5,261		$	270,455
Total earning assets ⁽²⁾	699,004			664,054			271,129
Total assets ⁽²⁾	737,755			691,610			282,324
Total deposits	665,536			659,238			6,298
Allocated capital ⁽¹⁾	37,000			12,000			25,000

Period end
Total loans and leases	$	280,473		$	5,143		$	275,330
Total earning assets ⁽²⁾	709,832			675,485			275,742
Total assets ⁽²⁾	749,325			703,330			287,390
Total deposits	676,530			670,802			5,728

For footnotes see page 16.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	15



Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results (continued)
(Dollars in millions)
	First Quarter 2017
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,781		$	3,063		$	2,718
Noninterest income:
Card income	1,224			2			1,222
Service charges	1,050			1,050			—
All other income	229			102			127
Total noninterest income	2,503			1,154			1,349
Total revenue, net of interest expense (FTE basis)	8,284			4,217			4,067

Provision for credit losses	838			55			783

Noninterest expense	4,410			2,527			1,883
Income before income taxes (FTE basis)	3,036			1,635			1,401
Income tax expense (FTE basis)	1,144			616			528
Net income	$	1,892		$	1,019		$	873

Net interest yield (FTE basis)	3.50		%	1.96		%	4.34		%
Return on average allocated capital ⁽¹⁾	21			34			14
Efficiency ratio (FTE basis)	53.24			59.94			46.29

Balance Sheet
Average
Total loans and leases	$	257,945		$	4,979		$	252,966
Total earning assets ⁽²⁾	668,865			634,704			254,066
Total assets ⁽²⁾	707,647			661,769			265,783
Total deposits	635,594			629,337			6,257
Allocated capital ⁽¹⁾	37,000			12,000			25,000

Period end
Total loans and leases	$	258,421		$	4,938		$	253,483
Total earning assets ⁽²⁾	694,883			660,888			254,291
Total assets ⁽²⁾	734,087			688,277			266,106
Total deposits	661,607			655,714			5,893


⁽¹⁾	Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.


⁽²⁾	For presentation purposes, in segments or businesses where the total of liabilities and equity exceeds assets, the Corporation allocates assets from All Other to match the segments' and businesses' liabilities and allocated shareholders' equity. As a result, total earning assets and total assets of the businesses may not equal total Consumer Banking.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	16



Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017
Average deposit balances
Checking	$	341,204		$	334,345		$	329,048		$	325,503		$	315,772
Savings	53,068			52,466			52,687			52,809			50,544
MMS	239,714			236,909			234,288			230,363			224,563
CDs and IRAs	37,366			38,732			40,067			41,196			41,923
Non-U.S. and other	2,999			3,084			2,884			2,916			2,792
Total average deposit balances	$	674,351		$	665,536		$	658,974		$	652,787		$	635,594

Deposit spreads (excludes noninterest costs)
Checking	2.08		%	2.03		%	2.01		%	2.03		%	1.94		%
Savings	2.37			2.34			2.35			2.30			2.21
MMS	1.85			1.70			1.66			1.71			1.24
CDs and IRAs	1.73			1.55			1.48			1.41			1.29
Non-U.S. and other	1.73			1.56			1.45			1.31			1.16
Total deposit spreads	2.00			1.91			1.88			1.89			1.67

Client brokerage assets	$	182,110		$	177,045		$	167,274		$	159,131		$	153,786

Active digital banking users (units in thousands) ⁽¹⁾	35,518			34,855			34,472			33,971			33,702
Active mobile banking users (units in thousands)	24,801			24,238			23,572			22,898			22,217
Financial centers	4,435			4,470			4,511			4,542			4,559
ATMs	16,011			16,039			15,973			15,972			15,939

Total U.S. credit card ⁽²⁾
Loans
Average credit card outstandings	$	94,423		$	93,531		$	91,602		$	89,464		$	89,628
Ending credit card outstandings	93,014			96,274			92,602			90,776			88,552
Credit quality
Net charge-offs	$	701		$	655		$	612		$	640		$	606
	3.01		%	2.78		%	2.65		%	2.87		%	2.74		%
30+ delinquency	$	1,795		$	1,847		$	1,657		$	1,550		$	1,580
	1.93		%	1.92		%	1.79		%	1.71		%	1.78		%
90+ delinquency	$	925		$	900		$	810		$	772		$	801
	0.99		%	0.93		%	0.87		%	0.85		%	0.90		%
Other Total U.S. credit card indicators ⁽²⁾
Gross interest yield	9.93		%	9.75		%	9.76		%	9.54		%	9.55		%
Risk adjusted margin	8.32			8.74			8.63			8.40			8.89
New accounts (in thousands)	1,194			1,138			1,315			1,302			1,184
Purchase volumes	$	61,347		$	65,523		$	62,244		$	61,665		$	55,321

Debit card data
Purchase volumes	$	76,052		$	77,912		$	74,769		$	75,349		$	70,611

Loan production ⁽³⁾
Total ⁽⁴⁾:
First mortgage	$	9,424		$	12,705		$	13,183		$	13,251		$	11,442
Home equity	3,749			4,053			4,133			4,685			4,053
Consumer Banking:
First mortgage	$	5,964		$	8,386		$	9,044		$	9,006		$	7,629
Home equity	3,345			3,595			3,722			4,215			3,667


⁽¹⁾	Digital users represents mobile and/or online users across consumer businesses; historical information has been restated primarily due to the sale of the Corporation's non-U.S. consumer credit card business during the second quarter of 2017.


⁽²⁾	In addition to the U.S. credit card portfolio in Consumer Banking, the remaining U.S. credit card portfolio is primarily in GWIM.


⁽³⁾	The above loan production amounts represent the unpaid principal balance of loans and, in the case of home equity, the principal amount of the total line of credit.


⁽⁴⁾	In addition to loan production in Consumer Banking, there is also first mortgage and home equity loan production in GWIM.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	17



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017

Net interest income (FTE basis)	$	1,594		$	1,520		$	1,496		$	1,597		$	1,560
Noninterest income:
Investment and brokerage services	3,040			2,920			2,854			2,829			2,791
All other income	222			243			270			269			241
Total noninterest income	3,262			3,163			3,124			3,098			3,032
Total revenue, net of interest expense (FTE basis)	4,856			4,683			4,620			4,695			4,592

Provision for credit losses	38			6			16			11			23

Noninterest expense	3,428			3,473			3,371			3,392			3,329
Income before income taxes (FTE basis)	1,390			1,204			1,233			1,292			1,240
Income tax expense (FTE basis)	355			462			464			488			467
Net income	$	1,035		$	742		$	769		$	804		$	773

Net interest yield (FTE basis)	2.46		%	2.32		%	2.29		%	2.41		%	2.28		%
Return on average allocated capital ⁽¹⁾	29			21			22			23			22
Efficiency ratio (FTE basis)	70.60			74.14			72.95			72.24			72.51

Balance Sheet
Average
Total loans and leases	$	159,095		$	157,063		$	154,333		$	150,812		$	148,405
Total earning assets ⁽²⁾	262,775			259,550			259,564			265,845			277,989
Total assets ⁽²⁾	279,716			276,153			275,570			281,167			293,432
Total deposits	243,077			240,126			239,647			245,329			257,386
Allocated capital ⁽¹⁾	14,500			14,000			14,000			14,000			14,000

Period end
Total loans and leases	$	159,636		$	159,378		$	155,871		$	153,468		$	149,110
Total earning assets ⁽²⁾	262,430			267,026			259,548			258,744			275,214
Total assets ⁽²⁾	279,331			284,321			276,187			274,746			291,177
Total deposits	241,531			246,994			237,771			237,131			254,595


⁽¹⁾	Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	18



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Key Indicators
(Dollars in millions, except as noted)
	First Quarter 2018			Fourth Quarter 2017		Third Quarter 2017		Second Quarter 2017		First Quarter 2017
	First Quarter 2018			Fourth Quarter 2017		Third Quarter 2017		Second Quarter 2017		First Quarter 2017
Revenue by Business
Merrill Lynch Global Wealth Management	$	3,996		$	3,836	$	3,796	$	3,874	$	3,782
U.S. Trust	860			845		822		819		809
Other	—			2		2		2		1
Total revenue, net of interest expense (FTE basis)	$	4,856		$	4,683	$	4,620	$	4,695	$	4,592

Client Balances by Business, at period end
Merrill Lynch Global Wealth Management	$	2,284,803		$	2,305,664	$	2,245,499	$	2,196,238	$	2,167,536
U.S. Trust	440,683			446,199		430,684		421,180		417,841
Total client balances	$	2,725,486		$	2,751,863	$	2,676,183	$	2,617,418	$	2,585,377

Client Balances by Type, at period end
Assets under management ⁽¹⁾	$	1,084,717		$	1,080,747	$	1,036,048	$	990,709	$	946,778
Brokerage and other assets	1,236,799			1,261,990		1,243,858		1,233,313		1,232,195
Deposits	241,531			246,994		237,771		237,131		254,595
Loans and leases ⁽²⁾	162,439			162,132		158,506		156,265		151,809
Total client balances	$	2,725,486		$	2,751,863	$	2,676,183	$	2,617,418	$	2,585,377

Assets Under Management Rollforward
Assets under management, beginning balance	$	1,080,747		$	1,036,048	$	990,709	$	946,778	$	886,148
Net client flows	24,240			18,228		20,749		27,516		29,214
Market valuation/other	(20,270		)	26,471		24,590		16,415		31,416
Total assets under management, ending balance	$	1,084,717		$	1,080,747	$	1,036,048	$	990,709	$	946,778

Associates, at period end ⁽³⁾
Number of financial advisors	17,367			17,355		17,221		17,017		16,678
Total wealth advisors, including financial advisors	19,276			19,238		19,108		18,881		18,538
Total primary sales professionals, including financial advisors and wealth advisors	20,398			20,344		20,115		19,863		19,536

Merrill Lynch Global Wealth Management Metric
Financial advisor productivity ⁽⁴⁾ (in thousands)	$	1,038		$	994	$	994	$	1,040	$	993

U.S. Trust Metric, at period end
Primary sales professionals	1,737			1,714		1,696		1,665		1,657


⁽¹⁾	Defined as managed assets under advisory and/or discretion of GWIM.


⁽²⁾	Includes margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet.


⁽³⁾	Includes financial advisors in the Consumer Banking segment of 2,538, 2,402, 2,267, 2,206 and 2,121 at March 31, 2018, December 31, 2017, September 30, 2017, June 30, 2017 and March 31, 2017, respectively.


⁽⁴⁾	Financial advisor productivity is defined as annualized Merrill Lynch Global Wealth Management total revenue, excluding the allocation of certain ALM activities, divided by the total average number of financial advisors (excluding financial advisors in the Consumer Banking segment).

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	19



Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017

Net interest income (FTE basis)	$	2,640		$	2,719		$	2,642		$	2,541		$	2,602
Noninterest income:
Service charges	763			774			776			809			765
Investment banking fees	744			811			806			929			925
All other income	787			715			763			760			663
Total noninterest income	2,294			2,300			2,345			2,498			2,353
Total revenue, net of interest expense (FTE basis)	4,934			5,019			4,987			5,039			4,955

Provision for credit losses	16			132			48			15			17

Noninterest expense	2,195			2,161			2,119			2,154			2,163
Income before income taxes (FTE basis)	2,723			2,726			2,820			2,870			2,775
Income tax expense (FTE basis)	707			1,046			1,062			1,084			1,046
Net income	$	2,016		$	1,680		$	1,758		$	1,786		$	1,729

Net interest yield (FTE basis)	2.96		%	3.00		%	2.94		%	2.85		%	2.93		%
Return on average allocated capital ⁽¹⁾	20			17			17			18			18
Efficiency ratio (FTE basis)	44.47			43.02			42.52			42.72			43.66

Balance Sheet
Average
Total loans and leases	$	351,689		$	350,262		$	346,093		$	345,063		$	342,857
Total earning assets ⁽²⁾	361,822			359,199			357,014			357,407			359,605
Total assets ⁽²⁾	420,594			419,513			414,755			413,950			415,908
Total deposits	324,405			329,761			315,692			300,483			305,197
Allocated capital ⁽¹⁾	41,000			40,000			40,000			40,000			40,000

Period end
Total loans and leases	$	355,165		$	350,668		$	349,838		$	344,457		$	344,452
Total earning assets ⁽²⁾	365,895			365,560			364,591			353,649			360,288
Total assets ⁽²⁾	424,134			424,533			423,185			410,580			416,763
Total deposits	331,238			329,273			319,545			303,205			297,163


⁽¹⁾	Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	20



Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017
Investment Banking fees ⁽¹⁾
Advisory ⁽²⁾	$	276		$	381		$	321		$	465		$	390
Debt issuance	356			336			397			361			412
Equity issuance	112			94			88			103			123
Total Investment Banking fees⁽³⁾	$	744		$	811		$	806		$	929		$	925

Business Lending
Corporate	$	1,050		$	1,065		$	1,127		$	1,093		$	1,102
Commercial	975			1,094			1,090			1,052			1,044
Business Banking	99			103			101			99			101
Total Business Lending revenue	$	2,124		$	2,262		$	2,318		$	2,244		$	2,247

Global Transaction Services
Corporate	$	882		$	852		$	840		$	833		$	797
Commercial	816			800			758			752			707
Business Banking	232			224			217			211			197
Total Global Transaction Services revenue	$	1,930		$	1,876		$	1,815		$	1,796		$	1,701

Average deposit balances
Interest-bearing	$	113,312		$	106,537		$	94,232		$	77,490		$	70,831
Noninterest-bearing	211,093			223,224			221,460			222,993			234,366
Total average deposits	$	324,405		$	329,761		$	315,692		$	300,483		$	305,197

Loan spread	1.53		%	1.56		%	1.56		%	1.56		%	1.65		%

Provision for credit losses	$	16		$	132		$	48		$	15		$	17

Credit quality ^{(4, 5)}
Reservable utilized criticized exposure	$	11,865		$	12,038		$	13,273		$	14,074		$	14,567
	3.13		%	3.21		%	3.55		%	3.80		%	3.95		%

Nonperforming loans, leases and foreclosed properties	$	1,286		$	1,118		$	1,123		$	1,345		$	1,527
	0.36		%	0.32		%	0.32		%	0.39		%	0.44		%

Average loans and leases by product
U.S. commercial	$	200,726		$	201,432		$	197,841		$	200,577		$	198,620
Non-U.S. commercial	78,716			77,339			76,226			72,729			72,261
Commercial real estate	49,777			49,194			49,247			49,122			48,818
Commercial lease financing	22,469			22,297			22,778			22,634			23,152
Other	1			—			1			1			6
Total average loans and leases	$	351,689		$	350,262		$	346,093		$	345,063		$	342,857

Total Corporation Investment Banking fees
Advisory ⁽²⁾	$	296		$	429		$	374		$	483		$	405
Debt issuance	827			846			962			901			926
Equity issuance	314			204			193			231			312
Total investment banking fees including self-led deals	1,437			1,479			1,529			1,615			1,643
Self-led deals	(84		)	(61		)	(52		)	(83		)	(59		)
Total Investment Banking fees	$	1,353		$	1,418		$	1,477		$	1,532		$	1,584


⁽¹⁾	Investment banking fees represent total investment banking fees for Global Banking inclusive of self-led deals and fees included within Business Lending.


⁽²⁾	Advisory includes fees on debt and equity advisory and mergers and acquisitions.


⁽³⁾	Investment banking fees represent only the fee component in Global Banking and do not include certain other items shared with the Investment Banking Group under internal revenue sharing agreements.

⁽⁴⁾

Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure is on an end-of-period basis and is also shown as a percentage of total commercial utilized reservable criticized exposure, including loans and leases, standby letters of credit, financial guarantees, commercial letters of credit and bankers' acceptances.


⁽⁵⁾	Nonperforming loans, leases and foreclosed properties are on an end-of-period basis. The nonperforming ratio is nonperforming assets divided by loans, leases and foreclosed properties.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	21



Bank of America Corporation and Subsidiaries
Investment Banking Product Rankings

	Three Months Ended March 31, 2018
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
Net investment banking revenue	4	5.7	%	4	7.8	%
Announced mergers and acquisitions	4	20.9		5	20.2
Equity capital markets	5	5.9		5	8.8
Debt capital markets	3	6.3		1	11.0
High-yield corporate debt	4	5.6		4	7.6
Leveraged loans	1	9.9		1	12.7
Mortgage-backed securities	3	10.3		4	12.2
Asset-backed securities	2	10.7		2	12.4
Convertible debt	3	7.5		2	17.7
Common stock underwriting	5	5.7		6	6.7
Investment-grade corporate debt	1	6.7		1	13.4
Syndicated loans	2	9.8		2	13.3

Source: Dealogic data as of April 2, 2018. Figures above include self-led transactions.


•	Rankings based on deal volumes except for net investment banking revenue rankings which reflect fees.


•	Debt capital markets excludes loans but includes agencies.


•	Mergers and acquisitions fees included in net investment banking revenue reflect 10 percent fee credit at announcement and 90 percent fee credit at completion as per Dealogic.


•	Mergers and acquisitions volume rankings are for announced transactions and provide credit to all investment banks advising either side of the transaction.


•	Each advisor receives full credit for the deal amount unless advising a minor stakeholder.

Highlights



Global top 3 rankings in:
Leveraged loans		Investment-grade corporate debt
Mortgage-backed securities		Syndicated loans
Asset-backed securities		Debt capital markets
Convertible debt

U.S. top 3 rankings in:
Leveraged loans		Investment-grade corporate debt
Asset-backed securities		Syndicated loans
Convertible debt		Debt capital markets

Top 3 rankings excluding self-led deals:


Global:	Leveraged loans, Mortgage-backed securities, Asset-backed securities, Convertible debt, Investment-grade corporate debt, Syndicated loans, Debt capital markets


U.S.:	Leveraged loans, Asset-backed securities, Convertible debt, Investment-grade corporate debt, Syndicated loans, Debt capital markets



Current period information is preliminary and based on company data available at the time of the presentation.	22



Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017

Net interest income (FTE basis)	$	870		$	932		$	899		$	864		$	1,049
Noninterest income:
Investment and brokerage services	488			501			496			521			531
Investment banking fees	609			597			624			590			666
Trading account profits	2,703			1,075			1,714			1,743			2,177
All other income	116			291			168			229			285
Total noninterest income	3,916			2,464			3,002			3,083			3,659
Total revenue, net of interest expense (FTE basis) ⁽¹⁾	4,786			3,396			3,901			3,947			4,708

Provision for credit losses	(3		)	162			(6		)	25			(17		)

Noninterest expense	2,818			2,614			2,711			2,650			2,757
Income before income taxes (FTE basis)	1,971			620			1,196			1,272			1,968
Income tax expense (FTE basis)	513			210			440			442			671
Net income	$	1,458		$	410		$	756		$	830		$	1,297

Return on average allocated capital ⁽²⁾	17		%	5		%	9		%	10		%	15		%
Efficiency ratio (FTE basis)	58.87			77.01			69.48			67.12			58.56

Balance Sheet
Average
Total trading-related assets ⁽³⁾	$	463,169		$	449,737		$	442,283		$	452,563		$	422,359
Total loans and leases	73,763			73,552			72,347			69,638			70,064
Total earning assets⁽³⁾	486,107			464,171			446,754			456,588			429,906
Total assets	678,368			659,411			642,430			645,227			607,010
Total deposits	32,320			34,250			32,125			31,919			33,158
Allocated capital ⁽²⁾	35,000			35,000			35,000			35,000			35,000

Period end
Total trading-related assets ⁽³⁾	$	450,512		$	419,375		$	426,371		$	436,193		$	418,259
Total loans and leases	75,638			76,778			76,225			73,973			71,053
Total earning assets ⁽³⁾	478,857			449,314			441,656			448,613			425,582
Total assets	648,605			629,007			629,270			633,193			604,014
Total deposits	32,301			34,029			33,382			33,363			33,629

Trading-related assets (average)
Trading account securities	$	210,278		$	225,330		$	216,988		$	221,569		$	203,866
Reverse repurchases	123,948			107,125			101,556			101,551			96,835
Securities borrowed	82,376			77,580			81,950			88,041			81,312
Derivative assets	46,567			39,702			41,789			41,402			40,346
Total trading-related assets ⁽³⁾	$	463,169		$	449,737		$	442,283		$	452,563		$	422,359


⁽¹⁾	Substantially all of Global Markets total revenue is sales and trading revenue and investment banking fees, with a small portion related to certain revenue sharing agreements with other business segments. For additional sales and trading revenue information, see page 24.


⁽²⁾	Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.


⁽³⁾	Trading-related assets include derivative assets, which are considered non-earning assets.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	23



Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	First Quarter 2018		Fourth Quarter 2017		Third Quarter 2017		Second Quarter 2017		First Quarter 2017
	First Quarter 2018		Fourth Quarter 2017		Third Quarter 2017		Second Quarter 2017		First Quarter 2017
Sales and trading revenue ⁽¹⁾
Fixed income, currency and commodities	$	2,614	$	1,597	$	2,152	$	2,106	$	2,810
Equities	1,503		942		977		1,104		1,089
Total sales and trading revenue	$	4,117	$	2,539	$	3,129	$	3,210	$	3,899

Sales and trading revenue, excluding debit valuation adjustment ⁽²⁾
Fixed income, currency and commodities	$	2,536	$	1,709	$	2,166	$	2,254	$	2,930
Equities	1,517		948		984		1,115		1,099
Total sales and trading revenue, excluding debit valuation adjustment	$	4,053	$	2,657	$	3,150	$	3,369	$	4,029

Sales and trading revenue breakdown
Net interest income	$	743	$	805	$	777	$	749	$	929
Commissions	476		492		487		514		524
Trading	2,702		1,075		1,712		1,743		2,176
Other	196		167		153		204		270
Total sales and trading revenue	$	4,117	$	2,539	$	3,129	$	3,210	$	3,899


⁽¹⁾	Includes Global Banking sales and trading revenue of $166 million for the first quarter of 2018, and $61 million, $61 million, $56 million and $58 million for the fourth, third, second and first quarters of 2017, respectively.

⁽²⁾

For this presentation, sales and trading revenue excludes net debit valuation adjustment (DVA) gains (losses) which include net DVA on derivatives, as well as amortization of own credit portion of purchase discount and realized DVA on structured liabilities. Sales and trading revenue excluding net DVA gains (losses) represents a non-GAAP financial measure. We believe the use of this non-GAAP financial measure provides additional useful information to assess the underlying performance of these businesses and to allow better comparison of period-to-period operating performance.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	24



Bank of America Corporation and Subsidiaries
All Other Results ⁽¹⁾
(Dollars in millions)
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017
Net interest income (FTE basis)	$	144		$	188		$	152		$	260		$	263
Noninterest income (loss)	(477		)	(1,554		)	(355		)	616			(357		)
Total revenue, net of interest expense (FTE basis)	(333		)	(1,366		)	(203		)	876			(94		)

Provision for credit losses	(152		)	(185		)	(191		)	(159		)	(26		)

Noninterest expense	976			519			733			1,375			1,434
Loss before income taxes (FTE basis)	(1,157		)	(1,700		)	(745		)	(340		)	(1,502		)
Income tax expense (benefit) (FTE basis)	(871		)	964			(799		)	5			(1,148		)
Net income (loss)	$	(286	)	$	(2,664	)	$	54		$	(345	)	$	(354	)

Balance Sheet
Average
Total loans and leases	$	67,811		$	71,197		$	76,546		$	87,667		$	94,873
Total assets ⁽²⁾	200,553			208,855			207,272			204,196			207,652
Total deposits	23,115			23,899			25,273			26,320			25,297

Period end
Total loans and leases⁽³⁾	$	64,584		$	69,452		$	72,823		$	78,830		$	92,711
Total assets ⁽⁴⁾	202,152			194,048			213,019			201,019			201,753
Total deposits	22,106			22,719			24,072			26,603			25,147

⁽¹⁾

All Other consists of ALM activities, equity investments, non-core mortgage loans and servicing activities, the net impact of periodic revisions to the MSR valuation model for both core and non-core MSRs and the related economic hedge results, liquidating businesses and residual expense allocations. ALM activities encompass certain residential mortgages, debt securities, interest rate and foreign currency risk management activities, the impact of certain allocation methodologies and hedge ineffectiveness. The results of certain ALM activities are allocated to our business segments. Equity investments include our merchant services joint venture, as well as a portfolio of equity, real estate and other alternative investments.


⁽²⁾	Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $514.6 billion for the first quarter of 2018, and $508.6 billion, $510.1 billion, $521.8 billion and $522.0 billion for the fourth, third, second, and first quarters of 2017, respectively.


⁽³⁾	Includes $9.5 billion of non-U.S. credit card loans, which were included in assets of business held for sale on the Consolidated Balance Sheet at March 31, 2017. During the second quarter of 2017, the Corporation sold its non-U.S. consumer credit card business.


⁽⁴⁾	Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $543.3 billion, $520.4 billion, $515.0 billion, $517.7 billion and $543.4 billion at March 31, 2018, December 31, 2017, September 30, 2017, June 30, 2017 and March 31, 2017, respectively.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	25



Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	March 31 2018		December 31 2017		March 31 2017
Consumer
Residential mortgage ⁽¹⁾	$	204,112	$	203,811	$	193,843
Home equity	55,308		57,744		63,915
U.S. credit card	93,014		96,285		88,552
Non-U.S. credit card ⁽²⁾	—		—		9,505
Direct/Indirect consumer ⁽³⁾	91,213		93,830		92,794
Other consumer ⁽⁴⁾	2,860		2,678		2,539
Total consumer loans excluding loans accounted for under the fair value option	446,507		454,348		451,148
Consumer loans accounted for under the fair value option ⁽⁵⁾	894		928		1,032
Total consumer	447,401		455,276		452,180

Commercial
U.S. commercial ⁽⁶⁾	302,368		298,485		288,170
Non-U.S. commercial	97,365		97,792		89,179
Commercial real estate ⁽⁷⁾	60,085		58,298		57,849
Commercial lease financing	21,764		22,116		21,873
Total commercial loans excluding loans accounted for under the fair value option	481,582		476,691		457,071
Commercial loans accounted for under the fair value option ⁽⁵⁾	5,095		4,782		6,496
Total commercial	486,677		481,473		463,567
Less: Loans of business held for sale ⁽⁸⁾	—		—		(9,505		)
Total loans and leases	$	934,078	$	936,749	$	906,242


⁽¹⁾	Includes pay option loans of $1.3 billion, $1.4 billion and $1.8 billion at March 31, 2018, December 31, 2017 and March 31, 2017, respectively. The Corporation no longer originates pay option loans.


⁽²⁾	During the second quarter of 2017, the Corporation sold its non-U.S. consumer credit card business.

⁽³⁾

Includes auto and specialty lending loans of $49.1 billion, $49.9 billion and $48.7 billion, unsecured consumer lending loans of $428 million, $469 million and $530 million, U.S. securities-based lending loans of $38.1 billion, $39.8 billion and $39.5 billion, non-U.S. consumer loans of $2.9 billion, $3.0 billion and $2.9 billion, student loans of $0, $0 and $479 million and other consumer loans of $676 million, $684 million and $644 million at March 31, 2018, December 31, 2017 and March 31, 2017, respectively.


⁽⁴⁾	Includes consumer finance loans of $0, $0 and $441 million, consumer leases of $2.7 billion, $2.5 billion and $2.0 billion and consumer overdrafts of $129 million, $163 million and $124 million at March 31, 2018, December 31, 2017 and March 31, 2017, respectively.

⁽⁵⁾

Consumer loans accounted for under the fair value option were residential mortgage loans of $523 million, $567 million and $694 million and home equity loans of $371 million, $361 million and $338 million at March 31, 2018, December 31, 2017 and March 31, 2017, respectively. Commercial loans accounted for under the fair value option were U.S. commercial loans of $3.2 billion, $2.6 billion and $3.5 billion and non-U.S. commercial loans of $1.9 billion, $2.2 billion and $3.0 billion at March 31, 2018, December 31, 2017 and March 31, 2017, respectively.


⁽⁶⁾	Includes U.S. small business commercial loans, including card-related products, of $13.9 billion, $13.6 billion and $13.3 billion at March 31, 2018, December 31, 2017 and March 31, 2017, respectively.


⁽⁷⁾	Includes U.S. commercial real estate loans of $55.6 billion, $54.8 billion and $54.7 billion and non-U.S. commercial real estate loans of $4.5 billion, $3.5 billion and $3.1 billion at March 31, 2018, December 31, 2017 and March 31, 2017, respectively.


⁽⁸⁾	Represents non-U.S. credit card loans, which were included in assets of business held for sale on the Consolidated Balance Sheet. See footnote 2 for more information.

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	26



Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment and All Other
(Dollars in millions)
	First Quarter 2018
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	204,830	$	77,265	$	72,587	$	—	$	—	$	54,978
Home equity	56,952		39,407		3,997		—		362		13,186
U.S. credit card	94,423		91,372		3,051		—		—		—
Direct/Indirect consumer	92,478		50,063		42,413		—		—		2
Other consumer	2,814		2,804		6		1		—		3
Total consumer	451,497		260,911		122,054		1		362		68,169

Commercial
U.S. commercial	299,850		18,626		33,333		200,726		46,933		232
Non-U.S. commercial	99,504		—		27		78,716		20,737		24
Commercial real estate	59,231		20		3,678		49,777		5,731		25
Commercial lease financing	21,833		—		3		22,469		—		(639		)
Total commercial	480,418		18,646		37,041		351,688		73,401		(358		)
Total loans and leases	$	931,915	$	279,557	$	159,095	$	351,689	$	73,763	$	67,811

	Fourth Quarter 2017
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	202,155	$	73,137	$	71,222	$	—	$	—	$	57,796
Home equity	59,059		40,537		4,201		—		360		13,961
U.S. credit card	93,531		90,479		3,052		—		—		—
Direct/Indirect consumer	93,547		50,535		43,009		—		—		3
Other consumer	2,566		2,562		3		—		—		1
Total consumer	450,858		257,250		121,487		—		360		71,761

Commercial
U.S. commercial	297,851		18,448		32,035		201,432		45,719		217
Non-U.S. commercial	98,692		—		25		77,339		21,226		102
Commercial real estate	58,983		18		3,513		49,194		6,228		30
Commercial lease financing	21,406		—		3		22,297		19		(913		)
Total commercial	476,932		18,466		35,576		350,262		73,192		(564		)
Total loans and leases	$	927,790	$	275,716	$	157,063	$	350,262	$	73,552	$	71,197

	First Quarter 2017
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	193,627	$	58,521	$	66,151	$	5	$	—	$	68,950
Home equity	65,508		43,785		4,754		1		343		16,625
U.S. credit card	89,628		86,677		2,951		—		—		—
Non-U.S. credit card ⁽¹⁾	9,367		—		—		—		—		9,367
Direct/Indirect consumer	93,291		49,448		43,351		—		—		492
Other consumer	2,547		2,086		4		—		—		457
Total consumer	453,968		240,517		117,211		6		343		95,891

Commercial
U.S. commercial	287,468		17,409		28,192		198,620		43,119		128
Non-U.S. commercial	92,821		—		21		72,261		20,526		13
Commercial real estate	57,764		19		2,978		48,818		5,887		62
Commercial lease financing	22,123		—		3		23,152		189		(1,221		)
Total commercial	460,176		17,428		31,194		342,851		69,721		(1,018		)
Total loans and leases ⁽¹⁾	$	914,144	$	257,945	$	148,405	$	342,857	$	70,064	$	94,873


⁽¹⁾	Non-U.S. credit card loans were included in assets of business held for sale on the Consolidated Balance Sheet. During the second quarter of 2017, the Corporation sold its non-U.S. consumer credit card business.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	27



Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry ^{(1, 2, 3, 4)}
(Dollars in millions)
	Commercial Utilized						Total Commercial Committed
	March 31 2018		December 31 2017		March 31 2017		March 31 2018		December 31 2017		March 31 2017
Asset managers and funds	$	70,819	$	59,190	$	56,009	$	103,466	$	91,092	$	83,888
Real estate ⁽⁵⁾	64,507		61,940		63,384		88,750		83,773		85,286
Capital goods	39,560		36,705		34,234		73,650		70,417		64,304
Healthcare equipment and services	37,456		37,780		38,737		58,960		57,256		62,117
Government and public education	47,499		48,684		45,843		57,269		58,067		54,354
Finance companies	31,984		34,050		32,051		52,392		53,107		49,053
Materials	26,213		24,001		23,645		50,569		47,386		46,485
Retailing	25,679		26,117		25,273		45,241		48,796		47,315
Food, beverage and tobacco	22,351		23,252		21,205		44,620		42,815		41,273
Consumer services	27,160		27,191		28,994		43,005		43,605		44,141
Media	13,089		19,155		13,156		36,778		33,955		25,492
Commercial services and supplies	22,686		22,100		21,372		36,387		35,496		34,164
Energy	15,888		16,345		18,002		35,564		36,765		37,920
Global commercial banks	28,142		29,491		27,413		30,218		31,764		30,831
Transportation	21,652		21,704		19,645		30,121		29,946		27,609
Utilities	11,515		11,342		12,805		28,639		27,935		27,925
Individuals and trusts	19,276		18,549		16,404		25,161		25,097		22,854
Technology hardware and equipment	10,116		10,728		10,863		21,691		22,071		25,278
Software and services	7,971		8,562		9,540		20,757		18,202		19,084
Vehicle dealers	16,621		16,896		16,275		20,409		20,361		19,688
Pharmaceuticals and biotechnology	4,785		5,653		5,943		20,116		18,623		18,858
Consumer durables and apparel	9,286		8,859		8,225		18,535		17,296		17,315
Automobiles and components	7,097		5,988		5,744		13,993		13,318		13,111
Insurance	6,230		6,411		6,724		12,853		12,990		13,779
Telecommunication services	6,234		6,389		7,020		12,823		13,108		17,593
Food and staples retailing	5,298		4,955		5,724		11,452		15,589		9,565
Religious and social organizations	3,823		4,454		4,732		5,697		6,318		6,419
Financial markets infrastructure (clearinghouses)	1,499		688		922		3,261		2,403		2,917
Other	5,252		3,621		4,338		5,247		3,616		4,341
Total commercial credit exposure by industry	$	609,688	$	600,800	$	584,222	$	1,007,624	$	981,167	$	952,959

⁽¹⁾

Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held-for-sale, commercial letters of credit, bankers' acceptances, securitized assets, foreclosed properties and other collateral acquired. Derivative assets are carried at fair value, reflect the effects of legally enforceable master netting agreements and have been reduced by cash collateral of $36.5 billion, $34.6 billion and $35.5 billion at March 31, 2018, December 31, 2017 and March 31, 2017, respectively. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $33.7 billion, $26.2 billion and $24.8 billion, which consists primarily of other marketable securities, at March 31, 2018, December 31, 2017 and March 31, 2017, respectively.

⁽²⁾

Total utilized and total committed exposure includes loans of $5.1 billion, $4.8 billion and $6.5 billion and issued letters of credit with a notional amount of $193 million, $232 million and $308 million accounted for under the fair value option at March 31, 2018, December 31, 2017 and March 31, 2017, respectively. In addition, total committed exposure includes unfunded loan commitments accounted for under the fair value option with a notional amount of $4.2 billion, $4.6 billion and $5.6 billion at March 31, 2018, December 31, 2017 and March 31, 2017, respectively.


⁽³⁾	Includes U.S. small business commercial exposure.


⁽⁴⁾	Includes the notional amount of unfunded legally binding lending commitments net of amounts distributed (e.g., syndicated or participated) to other financial institutions.


⁽⁵⁾	Industries are viewed from a variety of perspectives to best isolate the perceived risks. For purposes of this table, the real estate industry is defined based on the borrowers' or counterparties' primary business activity using operating cash flows and primary source of repayment as key factors.

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	28



Bank of America Corporation and Subsidiaries
Top 20 Non-U.S. Countries Exposure
(Dollars in millions)
	Funded Loans and Loan Equivalents ⁽¹⁾		Unfunded Loan Commitments		Net Counterparty Exposure		Securities/ Other Investments ⁽²⁾		Country Exposure at March 31 2018		Hedges and Credit Default Protection ⁽³⁾			Net Country Exposure at March 31 2018 ⁽⁴⁾		Increase (Decrease) from December 31 2017
United Kingdom	$	26,362	$	18,105	$	6,710	$	1,478	$	52,655	$	(5,714	)	$	46,941	$	9,346
Germany	18,749		8,751		1,590		1,766		30,856		(3,250		)	27,606		6,103
Canada	7,262		7,373		1,838		2,020		18,493		(844		)	17,649		(1,074		)
China	13,118		940		1,293		1,255		16,606		(282		)	16,324		399
Japan	12,992		639		1,318		473		15,422		(1,472		)	13,950		4,860
France	5,539		5,818		2,436		3,070		16,863		(5,098		)	11,765		1,222
India	7,332		357		344		3,366		11,399		(78		)	11,321		824
Brazil	7,309		1,078		606		2,796		11,789		(532		)	11,257		541
Australia	5,422		2,879		566		1,618		10,485		(431		)	10,054		(535		)
Netherlands	6,897		2,332		769		1,287		11,285		(1,785		)	9,500		1,033
Hong Kong	7,388		188		559		1,051		9,186		(79		)	9,107		429
South Korea	5,054		609		632		2,736		9,031		(357		)	8,674		773
Switzerland	4,951		2,966		215		229		8,361		(1,122		)	7,239		1,442
Singapore	3,488		153		591		2,316		6,548		(76		)	6,472		209
Mexico	3,088		1,954		112		248		5,402		(485		)	4,917		(570		)
Spain	2,618		1,062		193		1,440		5,313		(730		)	4,583		1,475
Belgium	2,741		968		112		1,077		4,898		(411		)	4,487		522
Italy	2,947		1,491		520		825		5,783		(1,350		)	4,433		187
United Arab Emirates	2,824		349		273		60		3,506		(42		)	3,464		77
Turkey	2,707		83		49		321		3,160		(12		)	3,148		159
Total top 20 non-U.S. countries exposure	$	148,788	$	58,095	$	20,726	$	29,432	$	257,041	$	(24,150	)	$	232,891	$	27,422


⁽¹⁾	Includes loans, leases, and other extensions of credit and funds, including letters of credit and due from placements, which have not been reduced by collateral, hedges or credit default protection. Funded loans and loan equivalents are reported net of charge-offs but prior to any allowance for loan and lease losses.


⁽²⁾	Long securities exposures are netted on a single-name basis to, but not below, zero by short exposures and net credit default swaps purchased, consisting of single-name and net indexed and tranched credit default swaps.


⁽³⁾	Represents credit default protection purchased, net of credit default protection sold, which is used to mitigate the Corporation's risk to country exposures as listed, consisting of net single-name and net indexed and tranched credit default swaps. Amounts are calculated based on the credit default swaps notional amount assuming a zero recovery rate less any fair value receivable or payable.


⁽⁴⁾	Represents country exposure less hedges and credit default protection purchased, net of credit default protection sold.

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	29



Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	March 31 2018			December 31 2017			September 30 2017			June 30 2017			March 31 2017
Residential mortgage	$	2,262		$	2,476		$	2,518		$	2,579		$	2,729
Home equity	2,598			2,644			2,691			2,681			2,796
Direct/Indirect consumer	46			46			43			19			19
Other consumer	—			—			—			3			2
Total consumer	4,906			5,166			5,252			5,282			5,546
U.S. commercial	1,059			814			863			1,039			1,246
Non-U.S. commercial	255			299			244			269			311
Commercial real estate	73			112			130			123			74
Commercial lease financing	27			24			26			28			37
	1,414			1,249			1,263			1,459			1,668
U.S. small business commercial	58			55			55			61			60
Total commercial	1,472			1,304			1,318			1,520			1,728
Total nonperforming loans and leases	6,378			6,470			6,570			6,802			7,274
Foreclosed properties ⁽¹⁾	316			288			299			325			363
Total nonperforming loans, leases and foreclosed properties ^{(2, 3, 4)}	$	6,694		$	6,758		$	6,869		$	7,127		$	7,637

Fully-insured home loans past due 30 days or more and still accruing	$	3,915		$	4,466		$	4,721		$	4,970		$	5,531
Consumer credit card past due 30 days or more and still accruing ⁽⁵⁾	1,795			1,847			1,657			1,550			1,717
Other loans past due 30 days or more and still accruing	3,684			3,845			3,885			3,428			4,170
Total loans past due 30 days or more and still accruing ^{(3, 6, 7)}	$	9,394		$	10,158		$	10,263		$	9,948		$	11,418

Fully-insured home loans past due 90 days or more and still accruing	$	2,885		$	3,230		$	3,372		$	3,699		$	4,226
Consumer credit card past due 90 days or more and still accruing⁽⁸⁾	925			900			810			772			872
Other loans past due 90 days or more and still accruing	234			285			220			199			270
Total loans past due 90 days or more and still accruing ^{(3, 6, 7)}	$	4,044		$	4,415		$	4,402		$	4,670		$	5,368

Nonperforming loans, leases and foreclosed properties/Total assets ⁽⁹⁾	0.29		%	0.30		%	0.30		%	0.32		%	0.34		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties ⁽⁹⁾	0.72			0.73			0.75			0.78			0.84
Nonperforming loans and leases/Total loans and leases ⁽⁹⁾	0.69			0.69			0.71			0.75			0.80

Commercial utilized reservable criticized exposure ⁽¹⁰⁾	$	13,366		$	13,563		$	14,824		$	15,640		$	16,068
Commercial utilized reservable criticized exposure/Commercial utilized reservable exposure ⁽¹⁰⁾	2.58		%	2.65		%	2.91		%	3.13		%	3.27		%
Total commercial utilized criticized exposure/Commercial utilized exposure ⁽¹⁰⁾	2.45			2.60			2.93			3.14			3.19


⁽¹⁾	Foreclosed property balances do not include properties insured by certain government-guaranteed loans, principally loans insured by the Federal Housing Administration (FHA), that entered foreclosure of $680 million, $801 million, $879 million, $1.0 billion and $1.1 billion at March 31, 2018, December 31, 2017, September 30, 2017, June 30, 2017 and March 31, 2017, respectively.


⁽²⁾	Balances do not include past due consumer credit card, consumer loans secured by real estate where repayments are insured by the FHA and individually insured long-term stand-by agreements (fully-insured home loans), and in general, other consumer and commercial loans not secured by real estate.


⁽³⁾	Balances do not include purchased credit-impaired loans even though the customer may be contractually past due. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.



⁽⁴⁾ Balances do not include the following:	March 31 2018		December 31 2017		September 30 2017		June 30 2017		March 31 2017
Nonperforming loans held-for-sale	$	233	$	341	$	325	$	267	$	426
Nonperforming loans accounted for under the fair value option	37		69		62		79		95
Nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010	24		26		24		22		28


⁽⁵⁾	Includes $137 million of non-U.S. credit card loans at March 31, 2017, which were included in assets of business held for sale on the Consolidated Balance Sheet. During the second quarter of 2017, the Corporation sold its non-U.S. consumer credit card business.

⁽⁶⁾

Balances do not include loans held-for-sale past due 30 days or more and still accruing of $83 million, $8 million, $42 million, $25 million and $137 million at March 31, 2018, December 31, 2017, September 30, 2017, June 30, 2017 and March 31, 2017, respectively, and loans held-for-sale past due 90 days or more and still accruing of $8 million, $0, $6 million, $0 and $82 million at March 31, 2018, December 31, 2017, September 30, 2017, June 30, 2017 and March 31, 2017, respectively. At March 31, 2018, December 31, 2017, September 30, 2017, June 30, 2017 and March 31, 2017, there were $27 million, $32 million, $40 million, $37 million and $31 million, respectively, of loans accounted for under the fair value option past due 30 days or more and still accruing interest.


⁽⁷⁾	These balances are excluded from total nonperforming loans, leases and foreclosed properties.


⁽⁸⁾	Includes $71 million of non-U.S. credit card loans at March 31, 2017, which were included in assets of business held for sale on the Consolidated Balance Sheet.


⁽⁹⁾	Total assets and total loans and leases do not include loans accounted for under the fair value option of $6.0 billion, $5.7 billion, $6.3 billion, $7.3 billion and $7.5 billion at March 31, 2018, December 31, 2017, September 30, 2017, June 30, 2017 and March 31, 2017, respectively.


⁽¹⁰⁾	Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure excludes loans held-for-sale, exposure accounted for under the fair value option and other nonreservable exposure.

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	30



Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity ⁽¹⁾
(Dollars in millions)
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	5,166		$	5,252		$	5,282		$	5,546		$	6,004
Additions	812			755			999			682			818
Reductions:
Paydowns and payoffs	(245		)	(241		)	(253		)	(262		)	(296		)
Sales	(269		)	(88		)	(162		)	(119		)	(142		)
Returns to performing status ⁽²⁾	(364		)	(337		)	(347		)	(368		)	(386		)
Charge-offs ⁽³⁾	(147		)	(125		)	(210		)	(167		)	(174		)
Transfers to foreclosed properties	(45		)	(50		)	(57		)	(53		)	(57		)
Transfers (to) from loans held-for-sale	(2		)	—			—			23			(221		)
Total net reductions to nonperforming loans and leases	(260		)	(86		)	(30		)	(264		)	(458		)
Total nonperforming consumer loans and leases, end of period	4,906			5,166			5,252			5,282			5,546
Foreclosed properties	264			236			259			285			328
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	5,170		$	5,402		$	5,511		$	5,567		$	5,874

Nonperforming Commercial Loans and Leases ⁽⁴⁾:
Balance, beginning of period	$	1,304		$	1,318		$	1,520		$	1,728		$	1,703
Additions	436			444			412			288			472
Reductions:
Paydowns	(169		)	(127		)	(270		)	(266		)	(267		)
Sales	(24		)	(20		)	(61		)	(33		)	(22		)
Return to performing status ⁽⁵⁾	(27		)	(40		)	(100		)	(86		)	(54		)
Charge-offs	(48		)	(143		)	(145		)	(85		)	(82		)
Transfers to foreclosed properties	—			(13		)	—			(5		)	(22		)
Transfers to loans held-for-sale	—			(115		)	(38		)	(21		)	—
Total net additions (reductions) to nonperforming loans and leases	168			(14		)	(202		)	(208		)	25
Total nonperforming commercial loans and leases, end of period	1,472			1,304			1,318			1,520			1,728
Foreclosed properties	52			52			40			40			35
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	1,524		$	1,356		$	1,358		$	1,560		$	1,763


⁽¹⁾	For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 30.

⁽²⁾

Consumer loans and leases may be returned to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected, or when the loan otherwise becomes well-secured and is in the process of collection. Certain troubled debt restructurings are classified as nonperforming at the time of restructuring and may only be returned to performing status after considering the borrower's sustained repayment performance for a reasonable period, generally six months.


⁽³⁾	Our policy is not to classify consumer credit card and non-bankruptcy related consumer loans not secured by real estate as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity and, accordingly, are excluded from this table.


⁽⁴⁾	Includes U.S. small business commercial activity. Small business card loans are excluded as they are not classified as nonperforming.

⁽⁵⁾

Commercial loans and leases may be returned to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected, or when the loan otherwise becomes well-secured and is in the process of collection. Troubled debt restructurings are generally classified as performing after a sustained period of demonstrated payment performance.

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	31



Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios ^{(1, 2)}
(Dollars in millions)
	First Quarter 2018					Fourth Quarter 2017					Third Quarter 2017					Second Quarter 2017					First Quarter 2017
	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Net Charge-offs
Residential mortgage ⁽³⁾	$	(6	)	(0.01	)%	$	(16	)	(0.03	)%	$	(82	)	(0.16	)%	$	(19	)	(0.04	)%	$	17		0.04	%
Home equity	33			0.23		16			0.11		83			0.54		50			0.32		64			0.40
U.S. credit card	701			3.01		655			2.78		612			2.65		640			2.87		606			2.74
Non-U.S. credit card ⁽⁴⁾	—			—		—			—		—			—		31			1.89		44			1.91
Direct/Indirect consumer	58			0.26		64			0.27		67			0.28		32			0.14		48			0.21
Other consumer	44			6.34		50			7.91		51			7.23		17			2.64		48			7.61
Total consumer	830			0.75		769			0.68		731			0.65		751			0.67		827			0.74
U.S. commercial ⁽⁵⁾	24			0.03		56			0.08		80			0.11		52			0.08		44			0.06
Non-U.S. commercial	4			0.02		346			1.43		33			0.14		46			0.21		15			0.07
Commercial real estate	(3		)	(0.02	)	6			0.04		2			0.02		5			0.03		(4		)	(0.03	)
Commercial lease financing	(1		)	(0.01	)	5			0.09		(1		)	(0.02	)	1			0.01		—			—
	24			0.02		413			0.36		114			0.10		104			0.09		55			0.05
U.S. small business commercial	57			1.67		55			1.58		55			1.61		53			1.60		52			1.61
Total commercial	81			0.07		468			0.39		169			0.14		157			0.14		107			0.10
Total net charge-offs	$	911		0.40		$	1,237		0.53		$	900		0.39		$	908		0.40		$	934		0.42

By Business Segment and All Other
Consumer Banking	$	877		1.27	%	$	839		1.21	%	$	800		1.18	%	$	791		1.21	%	$	772		1.21	%
Global Wealth & Investment Management	25			0.06		4			0.01		11			0.03		8			0.02		21			0.06
Global Banking	19			0.02		264			0.30		106			0.12		98			0.11		51			0.06
Global Markets	6			0.03		146			0.83		23			0.13		1			0.01		—			—
All Other ⁽⁴⁾	(16		)	(0.10	)	(16		)	(0.09	)	(40		)	(0.21	)	10			0.05		90			0.39
Total net charge-offs	$	911		0.40		$	1,237		0.53		$	900		0.39		$	908		0.40		$	934		0.42


⁽¹⁾	Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding loans and leases excluding loans accounted for under the fair value option during the period for each loan and lease category.


⁽²⁾	Excludes write-offs of purchased credit-impaired loans of $35 million for the first quarter of 2018, and $46 million, $73 million, $55 million and $33 million for the fourth, third, second and first quarters of 2017, respectively.


⁽³⁾	Includes loan sales recoveries of $18 million for the first quarter of 2018, and $3 million, $88 million, $3 million and $11 million for the fourth, third, second and first quarters of 2017, respectively.


⁽⁴⁾	Represents net charge-offs of non-U.S. credit card loans recorded in All Other, which were included in assets of business held for sale on the Consolidated Balance Sheet at March 31, 2017. During the second quarter of 2017, the Corporation sold its non-U.S. consumer credit card business.


⁽⁵⁾	Excludes U.S. small business commercial loans.

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	32



Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	March 31, 2018						December 31, 2017						March 31, 2017
	Amount		Percent of Total		Percent of Loans and Leases Outstanding ^{(1, 2)}		Amount		Percent of Total		Percent of Loans and Leases Outstanding ^{(1, 2)}		Amount			Percent of Total		Percent of Loans and Leases Outstanding ^{(1, 2)}
Allowance for loan and lease losses
Residential mortgage	$	611	5.96	%	0.30	%	$	701	6.74	%	0.34	%	$	1,018		8.97	%	0.53	%
Home equity	919		8.96		1.66		1,019		9.80		1.76		1,547			13.62		2.42
U.S. credit card	3,425		33.38		3.68		3,368		32.41		3.50		3,003			26.45		3.39
Non-U.S.credit card ⁽³⁾	—		—		—		—		—		—		242			2.13		2.54
Direct/Indirect consumer	262		2.55		0.29		262		2.52		0.28		276			2.43		0.30
Other consumer	33		0.32		1.17		33		0.32		1.22		50			0.44		2.00
Total consumer	5,250		51.17		1.18		5,383		51.79		1.18		6,136			54.04		1.36
U.S. commercial ⁽⁴⁾	3,091		30.12		1.02		3,113		29.95		1.04		3,306			29.12		1.15
Non-U.S.commercial	801		7.81		0.82		803		7.73		0.82		850			7.49		0.95
Commercial real estate	953		9.29		1.59		935		9.00		1.60		927			8.16		1.60
Commercial lease financing	165		1.61		0.76		159		1.53		0.72		135			1.19		0.62
Total commercial	5,010		48.83		1.04		5,010		48.21		1.05		5,218			45.96		1.14
Total allowance for loan and lease losses	10,260		100.00	%	1.11		10,393		100.00	%	1.12		11,354			100.00	%	1.25
Less: Allowance included in assets of business held for sale ⁽⁵⁾	—						—						(242		)
Allowance for loan and lease losses	10,260						10,393						11,112
Reserve for unfunded lending commitments	782						777						757
Allowance for credit losses	$	11,042					$	11,170					$	11,869

Asset Quality Indicators ⁽⁵⁾
Allowance for loan and lease losses/Total loans and leases ⁽²⁾			1.11	%					1.12	%						1.25	%
Allowance for loan and lease losses/Total nonperforming loans and leases⁽⁶⁾			161						161							156
Ratio of the allowance for loan and lease losses/Annualized net charge-offs			2.78						2.12							3.00

⁽¹⁾

Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans accounted for under the fair value option. Consumer loans accounted for under the fair value option include residential mortgage loans of $523 million, $567 million and $694 million and home equity loans of $371 million, $361 million and $338 million at March 31, 2018, December 31, 2017 and March 31, 2017, respectively. Commercial loans accounted for under the fair value option include U.S. commercial loans of $3.2 billion, $2.6 billion and $3.5 billion and non-U.S. commercial loans of $1.9 billion, $2.2 billion and $3.0 billion at March 31, 2018, December 31, 2017 and March 31, 2017, respectively.


⁽²⁾	Total loans and leases do not include loans accounted for under the fair value option of $6.0 billion, $5.7 billion and $7.5 billion at March 31, 2018, December 31, 2017 and March 31, 2017, respectively.


⁽³⁾	During the second quarter of 2017, the Corporation sold its non-U.S. consumer credit card business.


⁽⁴⁾	Includes allowance for loan and lease losses for U.S. small business commercial loans of $446 million, $439 million and $415 million at March 31, 2018, December 31, 2017 and March 31, 2017, respectively.


⁽⁵⁾	Indicators at March 31, 2017 include $242 million of non-U.S. credit card allowance and $9.5 billion of non-U.S. credit card loans, which were included in assets of business held for sale on the Consolidated Balance Sheet at March 31, 2017. See footnote 3 for more information.

⁽⁶⁾

Allowance for loan and lease losses includes $4.0 billion allocated to products (primarily the Consumer Lending portfolios within Consumer Banking and purchased credit-impaired loans) that are excluded from nonperforming loans and leases at each of March 31, 2018, December 31, 2017 and March 31, 2017. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 98 percent, 99 percent and 100 percent at March 31, 2018, December 31, 2017 and March 31, 2017, respectively.

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	33



Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)

The Corporation evaluates its business based on a fully taxable-equivalent basis, a non-GAAP financial measure. Total revenue, net of interest expense, on a fully taxable-equivalent basis includes net interest income on a fully taxable-equivalent basis and noninterest income. The Corporation believes that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices. The Corporation presents related ratios and analyses (i.e., efficiency ratios and net interest yield) on a fully taxable-equivalent basis. To derive the fully taxable-equivalent basis, net interest income is adjusted to reflect tax-exempt income on an equivalent before-tax basis with a corresponding increase in income tax expense. For purposes of this calculation, the Corporation uses the federal statutory tax rate of 21 percent for the first quarter of 2018 and 35 percent for all prior periods. The efficiency ratio measures the costs expended to generate a dollar of revenue, and net interest yield measures the basis points the Corporation earns over the cost of funds.

The Corporation also evaluates its business based on the following ratios that utilize tangible equity, a non-GAAP financial measure. Tangible equity represents an adjusted shareholders' equity or common shareholders' equity amount which has been reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible common shareholders' equity measures the Corporation's earnings contribution as a percentage of adjusted average common shareholders' equity. The tangible common equity ratio represents adjusted ending common shareholders' equity divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible shareholders' equity measures the Corporation's earnings contribution as a percentage of adjusted average total shareholders' equity. The tangible equity ratio represents adjusted ending shareholders' equity divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Tangible book value per common share represents adjusted ending common shareholders' equity divided by ending common shares outstanding. These measures are used to evaluate the Corporation's use of equity. In addition, profitability, relationship and investment models all use return on average tangible shareholders' equity as key measures to support our overall growth goals.

See the tables below and on page 35 for reconciliations of these non-GAAP financial measures to financial measures defined by GAAP for the three months ended March 31, 2018, December 31, 2017, September 30, 2017, June 30, 2017 and March 31, 2017. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in understanding its results of operations and trends. Other companies may define or calculate supplemental financial data differently.



	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017

Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income	$	11,608		$	11,462		$	11,161		$	10,986		$	11,058
Fully taxable-equivalent adjustment	150			251			240			237			197
Net interest income on a fully taxable-equivalent basis	$	11,758		$	11,713		$	11,401		$	11,223		$	11,255

Reconciliation of total revenue, net of interest expense to total revenue, net of interest expense on a fully taxable-equivalent basis
Total revenue, net of interest expense	$	23,125		$	20,436		$	21,839		$	22,829		$	22,248
Fully taxable-equivalent adjustment	150			251			240			237			197
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	23,275		$	20,687		$	22,079		$	23,066		$	22,445

Reconciliation of income tax expense to income tax expense on a fully taxable-equivalent basis
Income tax expense	$	1,476		$	3,796		$	2,187		$	3,015		$	1,983
Fully taxable-equivalent adjustment	150			251			240			237			197
Income tax expense on a fully taxable-equivalent basis	$	1,626		$	4,047		$	2,427		$	3,252		$	2,180

Reconciliation of average common shareholders' equity to average tangible common shareholders' equity
Common shareholders' equity	$	242,713		$	250,838		$	249,214		$	245,756		$	242,480
Goodwill	(68,951		)	(68,954		)	(68,969		)	(69,489		)	(69,744		)
Intangible assets (excluding mortgage servicing rights)	(2,261		)	(2,399		)	(2,549		)	(2,743		)	(2,923		)
Related deferred tax liabilities	939			1,344			1,465			1,506			1,539
Tangible common shareholders' equity	$	172,440		$	180,829		$	179,161		$	175,030		$	171,352

Reconciliation of average shareholders' equity to average tangible shareholders' equity
Shareholders' equity	$	265,480		$	273,162		$	273,238		$	270,977		$	267,700
Goodwill	(68,951		)	(68,954		)	(68,969		)	(69,489		)	(69,744		)
Intangible assets (excluding mortgage servicing rights)	(2,261		)	(2,399		)	(2,549		)	(2,743		)	(2,923		)
Related deferred tax liabilities	939			1,344			1,465			1,506			1,539
Tangible shareholders' equity	$	195,207		$	203,153		$	203,185		$	200,251		$	196,572

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	34



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017
	First Quarter 2018			Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017

Reconciliation of period-end common shareholders' equity to period-end tangible common shareholders' equity
Common shareholders' equity	$	241,552		$	244,823		$	249,646		$	245,440		$	242,770
Goodwill	(68,951		)	(68,951		)	(68,968		)	(68,969		)	(69,744		)
Intangible assets (excluding mortgage servicing rights)	(2,177		)	(2,312		)	(2,459		)	(2,610		)	(2,827		)
Related deferred tax liabilities	920			943			1,435			1,471			1,513
Tangible common shareholders' equity	$	171,344		$	174,503		$	179,654		$	175,332		$	171,712

Reconciliation of period-end shareholders' equity to period-end tangible shareholders' equity
Shareholders' equity	$	266,224		$	267,146		$	271,969		$	270,660		$	267,990
Goodwill	(68,951		)	(68,951		)	(68,968		)	(68,969		)	(69,744		)
Intangible assets (excluding mortgage servicing rights)	(2,177		)	(2,312		)	(2,459		)	(2,610		)	(2,827		)
Related deferred tax liabilities	920			943			1,435			1,471			1,513
Tangible shareholders' equity	$	196,016		$	196,826		$	201,977		$	200,552		$	196,932

Reconciliation of period-end assets to period-end tangible assets
Assets	$	2,328,478		$	2,281,234		$	2,284,174		$	2,254,714		$	2,247,794
Goodwill	(68,951		)	(68,951		)	(68,968		)	(68,969		)	(69,744		)
Intangible assets (excluding mortgage servicing rights)	(2,177		)	(2,312		)	(2,459		)	(2,610		)	(2,827		)
Related deferred tax liabilities	920			943			1,435			1,471			1,513
Tangible assets	$	2,258,270		$	2,210,914		$	2,214,182		$	2,184,606		$	2,176,736

Book value per share of common stock
Common shareholders’ equity	$	241,552		$	244,823		$	249,646		$	245,440		$	242,770
Ending common shares issued and outstanding	10,175,911			10,287,302			10,457,474			9,878,118			9,974,190
Book value per share of common stock	$	23.74		$	23.80		$	23.87		$	24.85		$	24.34

Tangible book value per share of common stock
Tangible common shareholders’ equity	$	171,344		$	174,503		$	179,654		$	175,332		$	171,712
Ending common shares issued and outstanding	10,175,911			10,287,302			10,457,474			9,878,118			9,974,190
Tangible book value per share of common stock	$	16.84		$	16.96		$	17.18		$	17.75		$	17.22

Certain prior period amounts have been reclassified to conform to current period presentation.



Current period information is preliminary and based on company data available at the time of the presentation.	35