BAC-12.31.2013-Exhibit 99.3

EX-99.3 4 bac-12312013xexhibit993.htm THE SUPPLEMENTAL INFORMATION BAC-12.31.2013-Exhibit 99.3

Supplemental Information

Fourth Quarter 2013

This 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
Supplemental Financial Data	3
Consolidated Statement of Income	4
Consolidated Statement of Comprehensive Income	5
Consolidated Balance Sheet	6
Capital Management	8
Net Interest Income Excluding Trading-related Net Interest Income	9
Quarterly Average Balances and Interest Rates	10
Annual Average Balances and Interest Rates	12
Debt Securities and Available-for-Sale Marketable Equity Securities	14
Quarterly Results by Business Segment	15
Annual Results by Business Segment	16
Consumer & Business Banking
Total Segment Results	17
Business Results	18
Key Indicators	21
Consumer Real Estate Services
Total Segment Results	22
Business Results	23
Key Indicators	26
Global Banking
Total Segment Results	27
Key Indicators	28
Investment Banking Product Rankings	29
Global Markets
Total Segment Results	30
Key Indicators	31
Global Wealth & Investment Management
Total Segment Results	32
Key Indicators	33
All Other
Total Results	34
Equity Investments	35
Outstanding Loans and Leases	36
Quarterly Average Loans and Leases by Business Segment	37
Commercial Credit Exposure by Industry	38
Net Credit Default Protection by Maturity Profile and Credit Exposure Debt Rating	39
Top 20 Non-U.S. Countries Exposure	40
Select European Countries	41
Nonperforming Loans, Leases and Foreclosed Properties	42
Nonperforming Loans, Leases and Foreclosed Properties Activity	43
Quarterly Net Charge-offs and Net Charge-off Ratios	44
Annual Net Charge-offs and Net Charge-off Ratios	45
Allocation of the Allowance for Credit Losses by Product Type	46

Exhibit A: Non-GAAP Reconciliations	47



Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(Dollars in millions, except per share information; shares in thousands)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
Income statement
Net interest income	$	42,265		$	40,656		$	10,786		$	10,266		$	10,549		$	10,664		$	10,324
Noninterest income	46,677			42,678			10,702			11,264			12,178			12,533			8,336
Total revenue, net of interest expense	88,942			83,334			21,488			21,530			22,727			23,197			18,660
Provision for credit losses	3,556			8,169			336			296			1,211			1,713			2,204
Noninterest expense	69,214			72,093			17,307			16,389			16,018			19,500			18,360
Income tax expense (benefit)	4,741			(1,116		)	406			2,348			1,486			501			(2,636		)
Net income	11,431			4,188			3,439			2,497			4,012			1,483			732
Preferred stock dividends	1,349			1,428			256			279			441			373			365
Net income applicable to common shareholders	10,082			2,760			3,183			2,218			3,571			1,110			367
Diluted earnings per common share	0.90			0.25			0.29			0.20			0.32			0.10			0.03
Average diluted common shares issued and outstanding	11,491,418			10,840,854			11,404,438			11,482,226			11,524,510			11,154,778			10,884,921
Dividends paid per common share	$	0.04		$	0.04		$	0.01		$	0.01		$	0.01		$	0.01		$	0.01

Performance ratios
Return on average assets	0.53		%	0.19		%	0.64		%	0.47		%	0.74		%	0.27		%	0.13		%
Return on average common shareholders' equity	4.62			1.27			5.74			4.06			6.55			2.06			0.67
Return on average tangible common shareholders' equity ⁽¹⁾	6.97			1.94			8.61			6.15			9.88			3.12			1.01
Return on average tangible shareholders' equity ⁽¹⁾	7.13			2.60			8.53			6.32			9.98			3.69			1.77


At period end
Book value per share of common stock	$	20.71		$	20.24		$	20.71		$	20.50		$	20.18		$	20.19		$	20.24
Tangible book value per share of common stock ⁽¹⁾	13.79			13.36			13.79			13.62			13.32			13.36			13.36
Market price per share of common stock:
Closing price	$	15.57		$	11.61		$	15.57		$	13.80		$	12.86		$	12.18		$	11.61
High closing price for the period	15.88			11.61			15.88			14.95			13.83			12.78			11.61
Low closing price for the period	11.03			5.80			13.69			12.83			11.44			11.03			8.93
Market capitalization	164,914			125,136			164,914			147,429			138,156			131,817			125,136

Number of banking centers - U.S.	5,151			5,478			5,151			5,243			5,328			5,389			5,478
Number of branded ATMs - U.S.	16,259			16,347			16,259			16,201			16,354			16,311			16,347
Full-time equivalent employees	242,117			267,190			242,117			247,943			257,158			262,812			267,190

⁽¹⁾

Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate non-GAAP financial measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 47-50.)

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



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



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

Fully taxable-equivalent (FTE) basis data ⁽¹⁾

	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012
Net interest income	$	43,124		$	41,557		$	10,999		$	10,479		$	10,771		$	10,875		$	10,555
Total revenue, net of interest expense	89,801			84,235			21,701			21,743			22,949			23,408			18,891
Net interest yield ⁽²⁾	2.47		%	2.35		%	2.56		%	2.44		%	2.44		%	2.43		%	2.35		%
Efficiency ratio	77.07			85.59			79.75			75.38			69.80			83.31			97.19


⁽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. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 47-50.)

⁽²⁾

Calculation includes fees earned on overnight deposits placed with the Federal Reserve and, beginning in the third quarter of 2012, fees earned on deposits, primarily overnight, placed with certain non-U.S. central banks of $182 million and $189 million for the years ended December 31, 2013 and 2012; $59 million, $50 million, $40 million and $33 million for the fourth, third, second and first quarters of 2013, respectively, and $42 million for the fourth quarter of 2012. For more information, see Quarterly and Annual Average Balances and Interest Rates - Fully Taxable-equivalent Basis on pages 10-11 and 12-13.

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



This 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 Income
(Dollars in millions, except per share information; shares in thousands)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
Interest income
Loans and leases	$	36,470		$	38,880		$	9,086		$	9,146		$	9,060		$	9,178		$	9,366
Debt securities	9,749			8,908			2,447			2,205			2,548			2,549			2,196
Federal funds sold and securities borrowed or purchased under agreements to resell	1,229			1,502			304			291			319			315			329
Trading account assets	4,706			5,094			1,139			1,049			1,181			1,337			1,307
Other interest income	2,866			3,016			736			691			717			722			773
Total interest income	55,020			57,400			13,712			13,382			13,825			14,101			13,971

Interest expense
Deposits	1,396			1,990			314			334			366			382			438
Short-term borrowings	2,923			3,572			682			683			809			749			855
Trading account liabilities	1,638			1,763			364			375			427			472			420
Long-term debt	6,798			9,419			1,566			1,724			1,674			1,834			1,934
Total interest expense	12,755			16,744			2,926			3,116			3,276			3,437			3,647
Net interest income	42,265			40,656			10,786			10,266			10,549			10,664			10,324

Noninterest income
Card income	5,826			6,121			1,503			1,444			1,469			1,410			1,548
Service charges	7,390			7,600			1,870			1,884			1,837			1,799			1,820
Investment and brokerage services	12,282			11,393			3,117			2,995			3,143			3,027			2,889
Investment banking income	6,126			5,299			1,738			1,297			1,556			1,535			1,600
Equity investment income	2,901			2,070			474			1,184			680			563			699
Trading account profits	7,056			5,870			863			1,266			1,938			2,989			792
Mortgage banking income (loss)	3,874			4,750			848			585			1,178			1,263			(540		)
Gains on sales of debt securities	1,271			1,662			390			356			457			68			171
Other income (loss)	(29		)	(2,034		)	(101		)	260			(76		)	(112		)	(642		)
Other-than-temporary impairment losses on available-for-sale debt securities:
Total other-than-temporary impairment losses	(21		)	(57		)	—			(8		)	(5		)	(14		)	(1		)
Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income	1			4			—			1			1			5			—
Net impairment losses recognized in earnings on available-for-sale debt securities	(20		)	(53		)	—			(7		)	(4		)	(9		)	(1		)
Total noninterest income	46,677			42,678			10,702			11,264			12,178			12,533			8,336
Total revenue, net of interest expense	88,942			83,334			21,488			21,530			22,727			23,197			18,660

Provision for credit losses	3,556			8,169			336			296			1,211			1,713			2,204

Noninterest expense
Personnel	34,719			35,648			7,987			8,310			8,531			9,891			8,300
Occupancy	4,475			4,570			1,116			1,096			1,109			1,154			1,151
Equipment	2,146			2,269			526			538			532			550			551
Marketing	1,834			1,873			457			511			437			429			480
Professional fees	2,884			3,574			839			702			694			649			996
Amortization of intangibles	1,086			1,264			266			270			274			276			309
Data processing	3,170			2,961			800			779			779			812			773
Telecommunications	1,593			1,660			376			397			411			409			433
Other general operating	17,307			18,274			4,940			3,786			3,251			5,330			5,367
Total noninterest expense	69,214			72,093			17,307			16,389			16,018			19,500			18,360
Income (loss) before income taxes	16,172			3,072			3,845			4,845			5,498			1,984			(1,904		)
Income tax expense (benefit)	4,741			(1,116		)	406			2,348			1,486			501			(2,636		)
Net income	$	11,431		$	4,188		$	3,439		$	2,497		$	4,012		$	1,483		$	732
Preferred stock dividends	1,349			1,428			256			279			441			373			365
Net income applicable to common shareholders	$	10,082		$	2,760		$	3,183		$	2,218		$	3,571		$	1,110		$	367

Per common share information
Earnings	$	0.94		$	0.26		$	0.30		$	0.21		$	0.33		$	0.10		$	0.03
Diluted earnings	0.90			0.25			0.29			0.20			0.32			0.10			0.03
Dividends paid	0.04			0.04			0.01			0.01			0.01			0.01			0.01
Average common shares issued and outstanding	10,731,165			10,746,028			10,633,030			10,718,918			10,775,867			10,798,975			10,777,204
Average diluted common shares issued and outstanding	11,491,418			10,840,854			11,404,438			11,482,226			11,524,510			11,154,778			10,884,921

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



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



Bank of America Corporation and Subsidiaries
Consolidated Statement of Comprehensive Income
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
Net income	$	11,431		$	4,188		$	3,439		$	2,497		$	4,012		$	1,483		$	732
Other comprehensive income (loss), net-of-tax:
Net change in available-for-sale debt and marketable equity securities	(8,166		)	1,802			(2,396		)	(631		)	(4,233		)	(906		)	(1,169		)
Net change in derivatives	592			916			227			180			13			172			381
Employee benefit plan adjustments	2,049			(65		)	536			1,380			48			85			(1,171		)
Net change in foreign currency translation adjustments	(135		)	(13		)	(1		)	(43		)	(49		)	(42		)	(27		)
Other comprehensive income (loss)	(5,660		)	2,640			(1,634		)	886			(4,221		)	(691		)	(1,986		)
Comprehensive income (loss)	$	5,771		$	6,828		$	1,805		$	3,383		$	(209	)	$	792		$	(1,254	)

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



This 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
(Dollars in millions)
	December 31 2013			September 30 2013			December 31 2012
Assets
Cash and cash equivalents	$	131,322		$	121,233		$	110,752
Time deposits placed and other short-term investments	11,540			14,449			18,694
Federal funds sold and securities borrowed or purchased under agreements to resell	190,328			212,007			219,924
Trading account assets	200,993			201,206			227,775
Derivative assets	47,495			53,161			53,497
Debt securities:
Carried at fair value	268,795			266,349			310,850
Held-to-maturity, at cost	55,150			54,649			49,481
Total debt securities	323,945			320,998			360,331
Loans and leases	928,233			934,392			907,819
Allowance for loan and lease losses	(17,428		)	(19,432		)	(24,179		)
Loans and leases, net of allowance	910,805			914,960			883,640
Premises and equipment, net	10,475			10,703			11,858
Mortgage servicing rights (includes $5,042, $5,058 and $5,716 measured at fair value)	5,052			5,068			5,851
Goodwill	69,844			69,891			69,976
Intangible assets	5,574			5,843			6,684
Loans held-for-sale	11,362			15,001			19,413
Customer and other receivables	59,448			60,065			71,467
Other assets	124,090			122,068			150,112
Total assets	$	2,102,273		$	2,126,653		$	2,209,974

Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
Trading account assets	$	8,412		$	8,743		$	7,906
Derivative assets	185			199			333
Loans and leases	109,118			109,996			123,227
Allowance for loan and lease losses	(2,674		)	(2,962		)	(3,658		)
Loans and leases, net of allowance	106,444			107,034			119,569
Loans held-for-sale	1,384			1,875			1,969
All other assets	4,577			4,314			4,654
Total assets of consolidated variable interest entities	$	121,002		$	122,165		$	134,431

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



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



Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet (continued)
(Dollars in millions)
	December 31 2013			September 30 2013			December 31 2012
Liabilities
Deposits in U.S. offices:
Noninterest-bearing	$	373,092		$	374,284		$	372,546
Interest-bearing	667,714			657,477			654,332
Deposits in non-U.S. offices:
Noninterest-bearing	8,233			7,394			7,573
Interest-bearing	70,232			70,963			70,810
Total deposits	1,119,271			1,110,118			1,105,261
Federal funds purchased and securities loaned or sold under agreements to repurchase	198,106			226,274			293,259
Trading account liabilities	83,469			82,713			73,587
Derivative liabilities	37,407			44,568			46,016
Short-term borrowings	45,999			40,769			30,731
Accrued expenses and other liabilities (includes $484, $480 and $513 of reserve for unfunded lending commitments)	135,662			134,598			148,579
Long-term debt	249,674			255,331			275,585
Total liabilities	1,869,588			1,894,371			1,973,018
Shareholders’ equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,407,790, 3,407,790 and 3,685,410 shares	13,352			13,315			18,768
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 10,591,808,296, 10,683,282,112 and 10,778,263,628 shares	155,293			156,371			158,142
Retained earnings	72,497			69,419			62,843
Accumulated other comprehensive income (loss)	(8,457		)	(6,823		)	(2,797		)
Total shareholders' equity	232,685			232,282			236,956
Total liabilities and shareholders' equity	$	2,102,273		$	2,126,653		$	2,209,974

Liabilities of consolidated variable interest entities included in total liabilities above
Short-term borrowings	$	1,150		$	2,180		$	3,731
Long-term debt	19,448			24,481			34,256
All other liabilities	253			382			360
Total liabilities of consolidated variable interest entities	$	20,851		$	27,043		$	38,347

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



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



Bank of America Corporation and Subsidiaries
Capital Management
(Dollars in millions)
	Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012

Risk-based capital ^{(1, 2)}:
Tier 1 common capital	$	145,235		$	142,825		$	139,519		$	136,119		$	133,403
Tier 1 capital	161,456			159,008			156,689			158,677			155,461
Total capital	200,281			198,001			196,752			201,211			196,680
Risk-weighted assets ⁽³⁾	1,297,529			1,289,444			1,288,159			1,298,187			1,205,976
Tier 1 common capital ratio ^{(3, 4)}	11.19		%	11.08		%	10.83		%	10.49		%	11.06		%
Tier 1 capital ratio	12.44			12.33			12.16			12.22			12.89
Total capital ratio	15.44			15.36			15.27			15.50			16.31
Tier 1 leverage ratio	7.87			7.79			7.49			7.49			7.37
Tangible equity ratio ⁽⁵⁾	7.86			7.73			7.67			7.78			7.62
Tangible common equity ratio ⁽⁵⁾	7.20			7.08			6.98			6.88			6.74


⁽¹⁾	Regulatory capital ratios are preliminary until filed with the Federal Reserve on Form Y-9C.


⁽²⁾	Basel 1 includes the Market Risk Final Rule for the fourth, third, second and first quarters of 2013 (Basel 1 – 2013 Rules). Basel 1 did not include the Market Risk Final Rule for the fourth quarter of 2012.


⁽³⁾	On a pro-forma basis, under the Basel 1 – 2013 Rules, fourth quarter 2012 risk-weighted assets and the Tier 1 common capital ratio would have been $1,284,799 million and 10.38 percent.


⁽⁴⁾	Tier 1 common capital ratio equals Tier 1 capital excluding preferred stock, trust preferred securities, hybrid securities and minority interest divided by risk-weighted assets.

⁽⁵⁾

Tangible equity ratio equals period-end tangible shareholders' equity divided by period-end tangible assets. Tangible common equity 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 these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on pages 47-50.)



Basel 1 to Basel 3 (fully phased-in) Reconciliation ^{(1, 2)}
(Dollars in millions)
	December 31 2013			September 30 2013			June 30 2013			March 31 2013			December 31 2012
Regulatory capital – Basel 1 to Basel 3 (fully phased-in)
Basel 1 Tier 1 capital	$	161,456		$	159,008		$	156,689		$	158,677		$	155,461
Deduction of qualifying preferred stock and trust preferred securities	(16,221		)	(16,183		)	(17,170		)	(22,558		)	(22,058		)
Basel 1 Tier 1 common capital	145,235			142,825			139,519			136,119			133,403
Deduction of defined benefit pension assets	(829		)	(935		)	(787		)	(776		)	(737		)
Deferred tax asset and threshold deductions (deferred tax asset temporary differences, mortgage servicing rights and significant investments)	(4,803		)	(4,758		)	(6,761		)	(4,501		)	(3,020		)
Other deductions, net	(7,288		)	(5,319		)	(6,125		)	(2,032		)	(1,020		)
Basel 3 Advanced approach (fully phased-in) Tier 1 common capital	$	132,315		$	131,813		$	125,846		$	128,810		$	128,626

Risk-weighted assets – Basel 1 to Basel 3 (fully phased-in)
Basel 1 risk-weighted assets	$	1,297,529		$	1,289,444		$	1,288,159		$	1,298,187		$	1,205,976
Credit and other risk-weighted assets	31,515			37,140			22,276			55,454			103,085
Increase due to Market Risk Final Rule	—			—			—			—			81,811
Basel 3 Advanced approach (fully phased-in) risk-weighted assets	$	1,329,044		$	1,326,584		$	1,310,435		$	1,353,641		$	1,390,872

Tier 1 common capital ratios
Basel 1	11.19		%	11.08		%	10.83		%	10.49		%	11.06		%
Basel 3 Advanced approach (fully phased-in)	9.96			9.94			9.60			9.52			9.25

⁽¹⁾ Basel 3 (fully phased-in) estimates are based on the Advanced approach under the final Basel rules issued on July 2, 2013, assuming all regulatory model approvals, except for the potential reduction to risk-weighted assets resulting from the Comprehensive Risk Measure after one year.

⁽²⁾ Basel 1 includes the Market Risk Final Rule at December 31, 2013, September 30, 2013, June 30, 2013 and March 31, 2013. Basel 1 did not include the Market Risk Final Rule at December 31, 2012.

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



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



Bank of America Corporation and Subsidiaries
Net Interest Income Excluding Trading-related Net Interest Income
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
Net interest income (FTE basis)
As reported ⁽¹⁾	$	43,124		$	41,557		$	10,999		$	10,479		$	10,771		$	10,875		$	10,555
Impact of trading-related net interest income	(3,868		)	(3,308		)	(1,051		)	(888		)	(919		)	(1,010		)	(1,012		)
Net interest income excluding trading-related net interest income ⁽²⁾	$	39,256		$	38,249		$	9,948		$	9,591		$	9,852		$	9,865		$	9,543

Average earning assets
As reported	$	1,746,974		$	1,769,969		$	1,708,501		$	1,710,685		$	1,769,336		$	1,800,786		$	1,788,936
Impact of trading-related earning assets	(469,048		)	(449,660		)	(445,725		)	(446,212		)	(487,345		)	(497,730		)	(482,366		)
Average earning assets excluding trading-related earning assets ⁽²⁾	$	1,277,926		$	1,320,309		$	1,262,776		$	1,264,473		$	1,281,991		$	1,303,056		$	1,306,570

Net interest yield contribution (FTE basis) ⁽³⁾
As reported ⁽¹⁾	2.47		%	2.35		%	2.56		%	2.44		%	2.44		%	2.43		%	2.35		%
Impact of trading-related activities	0.60			0.55			0.57			0.58			0.64			0.62			0.56
Net interest yield on earning assets excluding trading-related activities ⁽²⁾	3.07		%	2.90		%	3.13		%	3.02		%	3.08		%	3.05		%	2.91		%

⁽¹⁾

Net interest income and net interest yield include fees earned on overnight deposits placed with the Federal Reserve and, beginning in the third quarter of 2012, deposits, primarily overnight, placed with certain non-U.S. central banks of $182 million and $189 million for the years ended December 31, 2013 and 2012; $59 million, $50 million, $40 million and $33 million for the fourth, third, second and first quarters of 2013, respectively, and $42 million for the fourth quarter of 2012.


⁽²⁾	Represents a non-GAAP financial measure.


⁽³⁾	Quarterly results are calculated on an annualized basis.

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



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



Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	Fourth Quarter 2013						Third Quarter 2013						Fourth Quarter 2012
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments ⁽¹⁾	$	15,782	$	48	1.21	%	$	17,256	$	47	1.07	%	$	16,967	$	50	1.14	%
Federal funds sold and securities borrowed or purchased under agreements to resell	203,415		304		0.59		223,434		291		0.52		241,950		329		0.54
Trading account assets	156,194		1,182		3.01		144,502		1,093		3.01		186,252		1,362		2.91
Debt securities ⁽²⁾	325,119		2,455		3.02		327,493		2,211		2.70		360,213		2,201		2.44
Loans and leases ⁽³⁾:
Residential mortgage	253,974		2,374		3.74		256,297		2,359		3.68		256,564		2,292		3.57
Home equity	95,388		953		3.97		98,172		930		3.77		110,270		1,068		3.86
U.S. credit card	90,057		2,125		9.36		90,005		2,226		9.81		92,849		2,336		10.01
Non-U.S. credit card	11,171		310		11.01		10,633		317		11.81		13,081		383		11.66
Direct/Indirect consumer	82,990		565		2.70		83,773		587		2.78		82,583		662		3.19
Other consumer	1,929		17		3.73		1,867		19		3.89		1,602		19		4.57
Total consumer	535,509		6,344		4.72		540,747		6,438		4.74		556,949		6,760		4.84
U.S. commercial	225,596		1,700		2.99		221,542		1,704		3.05		209,496		1,729		3.28
Commercial real estate	46,341		374		3.20		43,164		352		3.24		38,192		341		3.55
Commercial lease financing	24,468		206		3.37		23,869		204		3.41		22,839		184		3.23
Non-U.S. commercial	97,863		544		2.20		94,656		528		2.22		65,690		433		2.62
Total commercial	394,268		2,824		2.84		383,231		2,788		2.89		336,217		2,687		3.18
Total loans and leases	929,777		9,168		3.92		923,978		9,226		3.97		893,166		9,447		4.21
Other earning assets	78,214		709		3.61		74,022		677		3.62		90,388		771		3.40
Total earning assets⁽⁴⁾	1,708,501		13,866		3.23		1,710,685		13,545		3.15		1,788,936		14,160		3.16
Cash and cash equivalents ⁽¹⁾	125,259		59				113,064		50				111,671		42
Other assets, less allowance for loan and lease losses	301,115						299,681						309,758
Total assets	$	2,134,875					$	2,123,430					$	2,210,365

⁽¹⁾

For this presentation, fees earned on overnight deposits placed with the Federal Reserve are included in the cash and cash equivalents line, consistent with the Consolidated Balance Sheet presentation of these deposits. In addition, beginning in the third quarter of 2012, fees earned on deposits, primarily overnight, placed with certain non-U.S. central banks, which are included in the time deposits placed and other short-term investments line in prior periods, have been included in the cash and cash equivalents line. Net interest income and net interest yield are calculated excluding these fees.


⁽²⁾	Yields on debt securities carried at fair value are calculated based on fair value rather than the cost basis. The use of fair value does not have a material impact on net interest yield.


⁽³⁾	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 were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.


⁽⁴⁾	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:



	Fourth Quarter 2013				Third Quarter 2013				Fourth Quarter 2012
Time deposits placed and other short-term investments		$	—			$	—			$	(1	)
Federal funds sold and securities borrowed or purchased under agreements to resell		15				15				11
Debt securities		(1		)		(2		)		(134		)
U.S. commercial		(14		)		(14		)		(21		)
Non-U.S. commercial		—				—				(1		)
Net hedge expenses on assets		$	—			$	(1	)		$	(146	)

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



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



Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	Fourth Quarter 2013						Third Quarter 2013						Fourth Quarter 2012
	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	$	43,665	$	5	0.05	%	$	43,968	$	5	0.05	%	$	41,294	$	6	0.06	%
NOW and money market deposit accounts	514,220		89		0.07		508,136		100		0.08		479,130		146		0.12
Consumer CDs and IRAs	77,424		97		0.50		81,190		116		0.56		91,256		156		0.68
Negotiable CDs, public funds and other deposits	26,271		28		0.40		24,079		25		0.42		19,904		27		0.54
Total U.S. interest-bearing deposits	661,580		219		0.13		657,373		246		0.15		631,584		335		0.21
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	13,878		18		0.52		12,789		16		0.47		11,970		22		0.71
Governments and official institutions	1,258		—		0.22		1,041		1		0.25		876		1		0.29
Time, savings and other	59,029		77		0.51		55,446		71		0.52		53,649		80		0.60
Total non-U.S. interest-bearing deposits	74,165		95		0.51		69,276		88		0.50		66,495		103		0.62
Total interest-bearing deposits	735,745		314		0.17		726,649		334		0.18		698,079		438		0.25
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings	271,538		682		1.00		279,425		683		0.97		336,341		855		1.01
Trading account liabilities	82,393		364		1.75		84,648		375		1.76		80,084		420		2.09
Long-term debt	251,055		1,566		2.48		258,717		1,724		2.65		277,894		1,934		2.77
Total interest-bearing liabilities ⁽¹⁾	1,340,731		2,926		0.87		1,349,439		3,116		0.92		1,392,398		3,647		1.04
Noninterest-bearing sources:
Noninterest-bearing deposits	376,929						363,962						379,997
Other liabilities	183,800						179,637						199,458
Shareholders’ equity	233,415						230,392						238,512
Total liabilities and shareholders’ equity	$	2,134,875					$	2,123,430					$	2,210,365
Net interest spread					2.36	%					2.23	%					2.12	%
Impact of noninterest-bearing sources					0.19						0.20						0.22
Net interest income/yield on earning assets ⁽²⁾			$	10,940	2.55	%			$	10,429	2.43	%			$	10,513	2.34	%


⁽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:



	Fourth Quarter 2013				Third Quarter 2013				Fourth Quarter 2012
NOW and money market deposit accounts		$	—			$	—			$	—
Consumer CDs and IRAs		20				23				15
Negotiable CDs, public funds and other deposits		3				3				3
Banks located in non-U.S. countries		4				2				3
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings		260				260				311
Long-term debt		(875		)		(844		)		(930		)
Net hedge income on liabilities		$	(588	)		$	(556	)		$	(598	)

⁽²⁾

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



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



Bank of America Corporation and Subsidiaries
Annual Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	2013						2012
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments ⁽¹⁾	$	16,066	$	187	1.16	%	$	22,888	$	237	1.03	%
Federal funds sold and securities borrowed or purchased under agreements to resell	224,331		1,229		0.55		236,042		1,502		0.64
Trading account assets	168,998		4,879		2.89		170,647		5,306		3.11
Debt securities ⁽²⁾	337,953		9,779		2.89		353,577		8,931		2.53
Loans and leases ⁽³⁾:
Residential mortgage	256,531		9,319		3.63		264,164		9,845		3.73
Home equity	100,267		3,831		3.82		117,339		4,426		3.77
U.S. credit card	90,369		8,792		9.73		94,863		9,504		10.02
Non-U.S. credit card	10,861		1,271		11.70		13,549		1,572		11.60
Direct/Indirect consumer	82,907		2,370		2.86		84,424		2,900		3.44
Other consumer	1,805		72		4.02		2,359		140		5.95
Total consumer	542,740		25,655		4.73		576,698		28,387		4.92
U.S. commercial	218,875		6,811		3.11		201,352		6,979		3.47
Commercial real estate	42,346		1,392		3.29		37,982		1,332		3.51
Commercial lease financing	23,865		851		3.56		21,879		874		4.00
Non-U.S. commercial	90,815		2,082		2.29		60,857		1,594		2.62
Total commercial	375,901		11,136		2.96		322,070		10,779		3.35
Total loans and leases	918,641		36,791		4.00		898,768		39,166		4.36
Other earning assets	80,985		2,832		3.50		88,047		2,970		3.36
Total earning assets⁽⁴⁾	1,746,974		55,697		3.19		1,769,969		58,112		3.28
Cash and cash equivalents ⁽¹⁾	109,014		182				115,739		189
Other assets, less allowance for loan and lease losses	307,525						305,648
Total assets	$	2,163,513					$	2,191,356

⁽¹⁾


⁽²⁾	Yields on debt securities carried at fair value are calculated based on fair value rather than the cost basis. The use of fair value does not have a material impact on net interest yield.


⁽³⁾	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 were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.


⁽⁴⁾	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:



	2013				2012
Time deposits placed and other short-term investments		$	—			$	(1	)
Federal funds sold and securities borrowed or purchased under agreements to resell		54				121
Debt securities		(173		)		(799		)
U.S. commercial		(84		)		(72		)
Non-U.S. commercial		(2		)		(3		)
Net hedge expenses on assets		$	(205	)		$	(754	)

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



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



Bank of America Corporation and Subsidiaries
Annual Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	2013						2012
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	43,868	$	22	0.05	%	$	41,453	$	45	0.11	%
NOW and money market deposit accounts	506,082		413		0.08		466,096		693		0.15
Consumer CDs and IRAs	82,963		481		0.58		95,559		693		0.73
Negotiable CDs, public funds and other deposits	23,504		106		0.45		20,928		128		0.61
Total U.S. interest-bearing deposits	656,417		1,022		0.16		624,036		1,559		0.25
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	12,419		70		0.56		14,737		94		0.64
Governments and official institutions	1,032		2		0.24		1,019		4		0.35
Time, savings and other	56,193		302		0.54		53,318		333		0.63
Total non-U.S. interest-bearing deposits	69,644		374		0.54		69,074		431		0.62
Total interest-bearing deposits	726,061		1,396		0.19		693,110		1,990		0.29
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings	301,417		2,923		0.97		318,400		3,572		1.12
Trading account liabilities	88,323		1,638		1.85		78,554		1,763		2.24
Long-term debt	263,416		6,798		2.58		316,393		9,419		2.98
Total interest-bearing liabilities ⁽¹⁾	1,379,217		12,755		0.92		1,406,457		16,744		1.19
Noninterest-bearing sources:
Noninterest-bearing deposits	363,674						354,672
Other liabilities	186,675						194,550
Shareholders’ equity	233,947						235,677
Total liabilities and shareholders’ equity	$	2,163,513					$	2,191,356
Net interest spread					2.27	%					2.09	%
Impact of noninterest-bearing sources					0.19						0.25
Net interest income/yield on earning assets ⁽²⁾			$	42,942	2.46	%			$	41,368	2.34	%


⁽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:



	2013				2012
NOW and money market deposit accounts		$	(1	)		$	(1	)
Consumer CDs and IRAs		77				87
Negotiable CDs, public funds and other deposits		13				13
Banks located in non-U.S. countries		12				13
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings		1,039				1,266
Long-term debt		(3,562		)		(3,679		)
Net hedge income on liabilities		$	(2,422	)		$	(2,301	)

⁽²⁾

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



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



Bank of America Corporation and Subsidiaries
Debt Securities and Available-for-Sale Marketable Equity Securities
(Dollars in millions)
	December 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S. Treasury and agency securities	$	8,910	$	106	$	(62	)	$	8,954
Mortgage-backed securities:
Agency	170,112		777		(5,954		)	164,935
Agency-collateralized mortgage obligations	22,731		76		(315		)	22,492
Non-agency residential	6,124		238		(123		)	6,239
Commercial	2,429		63		(12		)	2,480
Non-U.S. securities	7,207		37		(24		)	7,220
Corporate/Agency bonds	860		20		(7		)	873
Other taxable securities, substantially all asset-backed securities	16,805		30		(5		)	16,830
Total taxable securities	235,178		1,347		(6,502		)	230,023
Tax-exempt securities	5,967		10		(49		)	5,928
Total available-for-sale debt securities	241,145		1,357		(6,551		)	235,951
Other debt securities carried at fair value	34,145		34		(1,335		)	32,844
Total debt securities carried at fair value	275,290		1,391		(7,886		)	268,795
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	55,150		20		(2,740		)	52,430
Total debt securities	$	330,440	$	1,411	$	(10,626	)	$	321,225
Available-for-sale marketable equity securities ⁽¹⁾	$	230	$	—	$	(7	)	$	223

	September 30, 2013
Available-for-sale debt securities
U.S. Treasury and agency securities	$	2,872	$	127	$	(28	)	$	2,971
Mortgage-backed securities:
Agency	170,911		1,311		(3,197		)	169,025
Agency-collateralized mortgage obligations	27,187		340		(192		)	27,335
Non-agency residential	6,788		239		(98		)	6,929
Commercial	2,751		84		(8		)	2,827
Non-U.S. securities	6,217		35		(12		)	6,240
Corporate/Agency bonds	1,152		28		(10		)	1,170
Other taxable securities, substantially all asset-backed securities	13,142		29		(6		)	13,165
Total taxable securities	231,020		2,193		(3,551		)	229,662
Tax-exempt securities	5,264		6		(36		)	5,234
Total available-for-sale debt securities	236,284		2,199		(3,587		)	234,896
Other debt securities carried at fair value	32,365		98		(1,010		)	31,453
Total debt securities carried at fair value	268,649		2,297		(4,597		)	266,349
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	54,649		67		(1,865		)	52,851
Total debt securities	$	323,298	$	2,364	$	(6,462	)	$	319,200
Available-for-sale marketable equity securities ⁽¹⁾	$	119	$	—	$	(5	)	$	114


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



Other Debt Securities Carried at Fair Value
(Dollars in millions)	December 31 2013		September 30 2013
U.S. Treasury and agency securities	$	4,062	$	—
Mortgage-backed securities:
Agency	16,500		18,626
Agency-collateralized mortgage obligations	218		563
Commercial	749		758
Non-U.S. securities ⁽¹⁾	11,315		11,506
Total	$	32,844	$	31,453


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

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



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



Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment
(Dollars in millions)
	Fourth Quarter 2013
	Total Corporation			Consumer & Business Banking		Consumer Real Estate Services			Global Banking		Global Markets			GWIM		All Other
Net interest income (FTE basis)	$	10,999		$	4,948	$	715		$	2,301	$	1,142		$	1,485	$	408
Noninterest income (loss)	10,702			2,549		997			2,004		2,482			2,995		(325		)
Total revenue, net of interest expense (FTE basis)	21,701			7,497		1,712			4,305		3,624			4,480		83
Provision for credit losses	336			427		(474		)	441		104			26		(188		)
Noninterest expense	17,307			4,042		3,794			1,927		3,284			3,264		996
Income (loss) before income taxes	4,058			3,028		(1,608		)	1,937		236			1,190		(725		)
Income tax expense (benefit) (FTE basis)	619			1,061		(547		)	670		21			413		(999		)
Net income (loss)	$	3,439		$	1,967	$	(1,061	)	$	1,267	$	215		$	777	$	274

Average
Total loans and leases	$	929,777		$	163,152	$	89,687		$	268,849	n/m			$	115,546	$	226,049
Total assets ⁽¹⁾	2,134,875			590,073		113,584			380,496		$	603,110		268,683		178,929
Total deposits	1,112,674			528,808		n/m			259,762		n/m			240,395		34,030
Period end
Total loans and leases	$	928,233		$	165,090	$	89,753		$	269,469	n/m			$	115,846	$	220,694
Total assets ⁽¹⁾	2,102,273			592,978		113,386			379,207		$	575,709		274,112		166,881
Total deposits	1,119,271			531,707		n/m			265,718		n/m			244,901		27,702

	Third Quarter 2013
	Total Corporation			Consumer & Business Banking		Consumer Real Estate Services			Global Banking		Global Markets			GWIM		All Other
Net interest income (FTE basis)	$	10,479		$	5,056	$	733		$	2,201	$	975		$	1,478	$	36
Noninterest income	11,264			2,468		844			1,807		2,401			2,912		832
Total revenue, net of interest expense (FTE basis)	21,743			7,524		1,577			4,008		3,376			4,390		868
Provision for credit losses	296			761		(308		)	322		47			23		(549		)
Noninterest expense	16,389			3,980		3,419			1,927		2,884			3,249		930
Income (loss) before income taxes	5,058			2,783		(1,534		)	1,759		445			1,118		487
Income tax expense (benefit) (FTE basis)	2,561			1,004		(534		)	625		1,223			399		(156		)
Net income (loss)	$	2,497		$	1,779	$	(1,000	)	$	1,134	$	(778	)	$	719	$	643

Average
Total loans and leases	$	923,978		$	165,707	$	88,406		$	260,085	n/m			$	112,752	$	232,538
Total assets ⁽¹⁾	2,123,430			583,855		118,226			347,062		$	602,632		268,611		203,044
Total deposits	1,090,611			522,023		n/m			239,839		n/m			239,663		35,126
Period end
Total loans and leases	$	934,392		$	167,254	$	87,586		$	267,165	n/m			$	114,175	$	229,550
Total assets ⁽¹⁾	2,126,653			588,627		115,424			373,110		$	601,139		270,484		177,869
Total deposits	1,110,118			526,876		n/m			263,121		n/m			241,553		30,705

	Fourth Quarter 2012
	Total Corporation			Consumer & Business Banking		Consumer Real Estate Services			Global Banking		Global Markets			GWIM		All Other
Net interest income (FTE basis)	$	10,555		$	4,869	$	729		$	2,099	$	1,114		$	1,489	$	255
Noninterest income (loss)	8,336			2,532		(254		)	1,852		1,906			2,704		(404		)
Total revenue, net of interest expense (FTE basis)	18,891			7,401		475			3,951		3,020			4,193		(149		)
Provision for credit losses	2,204			1,078		485			62		17			112		450
Noninterest expense	18,360			4,174		5,607			1,753		2,627			3,196		1,003
Income (loss) before income taxes	(1,673		)	2,149		(5,617		)	2,136		376			885		(1,602		)
Income tax expense (benefit) (FTE basis)	(2,405		)	703		(1,913		)	744		195			309		(2,443		)
Net income (loss)	$	732		$	1,446	$	(3,704	)	$	1,392	$	181		$	576	$	841

Average
Total loans and leases	$	893,166		$	167,219	$	96,605		$	232,396	n/m			$	103,785	$	247,128
Total assets ⁽¹⁾	2,210,365			540,787		131,663			336,332		$	645,808		276,408		279,367
Total deposits	1,078,076			484,086		n/m			242,817		n/m			249,658		36,939
Period end
Total loans and leases	$	907,819		$	169,266	$	94,660		$	242,340	n/m			$	105,928	$	241,981
Total assets ⁽¹⁾	2,209,974			554,915		131,059			331,611		$	632,263		297,326		262,800
Total deposits	1,105,261			496,159		n/m			243,306		n/m			266,188		36,061


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

n/m = not meaningful

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



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



Bank of America Corporation and Subsidiaries
Annual Results by Business Segment
(Dollars in millions)
	Year Ended December 31, 2013
	Total Corporation			Consumer & Business Banking		Consumer Real Estate Services			Global Banking			Global Markets		GWIM		All Other
Net interest income (FTE basis)	$	43,124		$	20,051	$	2,890		$	8,914		$	4,239	$	6,064	$	966
Noninterest income	46,677			9,816		4,826			7,567			11,819		11,726		923
Total revenue, net of interest expense (FTE basis)	89,801			29,867		7,716			16,481			16,058		17,790		1,889
Provision for credit losses	3,556			3,107		(156		)	1,075			140		56		(666		)
Noninterest expense	69,214			16,357		16,013			7,552			12,013		13,038		4,241
Income (loss) before income taxes	17,031			10,403		(8,141		)	7,854			3,905		4,696		(1,686		)
Income tax expense (benefit) (FTE basis)	5,600			3,815		(2,986		)	2,880			2,342		1,722		(2,173		)
Net income (loss)	$	11,431		$	6,588	$	(5,155	)	$	4,974		$	1,563	$	2,974	$	487

Average
Total loans and leases	$	918,641		$	164,570	$	90,278		$	257,245		n/m		$	111,023	$	235,454
Total assets ⁽¹⁾	2,163,513			580,714		120,560			343,464			$	632,804	270,788		215,183
Total deposits	1,089,735			518,980		n/m			237,457			n/m		242,161		34,617
Period end
Total loans and leases	$	928,233		$	165,090	$	89,753		$	269,469		n/m		$	115,846	$	220,694
Total assets ⁽¹⁾	2,102,273			592,978		113,386			379,207			$	575,709	274,112		166,881
Total deposits	1,119,271			531,707		n/m			265,718			n/m		244,901		27,702

	Year Ended December 31, 2012
	Total Corporation			Consumer & Business Banking		Consumer Real Estate Services			Global Banking			Global Markets		GWIM		All Other
Net interest income (FTE basis)	$	41,557		$	19,853	$	2,930		$	8,135		$	3,672	$	5,827	$	1,140
Noninterest income (loss)	42,678			9,937		5,821			7,539			10,612		10,691		(1,922		)
Total revenue, net of interest expense (FTE basis)	84,235			29,790		8,751			15,674			14,284		16,518		(782		)
Provision for credit losses	8,169			4,148		1,442			(342		)	34		266		2,621
Noninterest expense	72,093			16,995		17,190			7,619			11,295		12,721		6,273
Income (loss) before income taxes	3,973			8,647		(9,881		)	8,397			2,955		3,531		(9,676		)
Income tax expense (benefit) (FTE basis)	(215		)	3,101		(3,442		)	3,053			1,726		1,286		(5,939		)
Net income (loss)	$	4,188		$	5,546	$	(6,439	)	$	5,344		$	1,229	$	2,245	$	(3,737	)

Average
Total loans and leases	$	898,768		$	173,036	$	103,524		$	224,336		n/m		$	100,456	$	259,241
Total assets ⁽¹⁾	2,191,356			532,827		145,369			322,701			$	606,249	268,475		315,735
Total deposits	1,047,782			475,180		n/m			223,940			n/m		242,384		43,087
Period end
Total loans and leases	$	907,819		$	169,266	$	94,660		$	242,340		n/m		$	105,928	$	241,981
Total assets ⁽¹⁾	2,209,974			554,915		131,059			331,611			$	632,263	297,326		262,800
Total deposits	1,105,261			496,159		n/m			243,306			n/m		266,188		36,061


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

n/m = not meaningful

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



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



Bank of America Corporation and Subsidiaries
Consumer & Business Banking Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
Net interest income (FTE basis)	$	20,051		$	19,853		$	4,948		$	5,056		$	5,034		$	5,013		$	4,869
Noninterest income:
Card income	4,804			5,315			1,236			1,175			1,186			1,207			1,342
Service charges	4,208			4,277			1,097			1,063			1,035			1,013			1,034
All other income	804			345			216			230			179			179			156
Total noninterest income	9,816			9,937			2,549			2,468			2,400			2,399			2,532
Total revenue, net of interest expense (FTE basis)	29,867			29,790			7,497			7,524			7,434			7,412			7,401

Provision for credit losses	3,107			4,148			427			761			967			952			1,078

Noninterest expense	16,357			16,995			4,042			3,980			4,178			4,157			4,174
Income before income taxes	10,403			8,647			3,028			2,783			2,289			2,303			2,149
Income tax expense (FTE basis)	3,815			3,101			1,061			1,004			894			856			703
Net income	$	6,588		$	5,546		$	1,967		$	1,779		$	1,395		$	1,447		$	1,446

Net interest yield (FTE basis)	3.72		%	4.04		%	3.58		%	3.70		%	3.72		%	3.89		%	3.88		%
Return on average allocated capital ^{(1, 2)}	21.98			—			26.03			23.55			18.68			19.59			—
Return on average economic capital ^{(1, 2)}	—			23.12			—			—			—			—			23.46
Efficiency ratio (FTE basis)	54.76			57.05			53.92			52.90			56.19			56.09			56.39

Balance Sheet
Average
Total loans and leases	$	164,570		$	173,036		$	163,152		$	165,707		$	163,593		$	165,845		$	167,219
Total earning assets⁽³⁾	539,213			491,767			548,174			542,545			542,697			523,125			499,241
Total assets ⁽³⁾	580,714			532,827			590,073			583,855			584,143			564,469			540,787
Total deposits	518,980			475,180			528,808			522,023			522,259			502,508			484,086
Allocated capital ^(1,2)	30,000			—			30,000			30,000			30,000			30,000			—
Economic capital ^{(1, 2)}	—			24,051			—			—			—			—			24,561

Period end
Total loans and leases	$	165,090		$	169,266		$	165,090		$	167,254		$	164,851		$	163,820		$	169,266
Total earning assets⁽³⁾	550,610			513,109			550,610			547,187			545,685			550,989			513,109
Total assets ⁽³⁾	592,978			554,915			592,978			588,627			587,576			593,167			554,915
Total deposits	531,707			496,159			531,707			526,876			525,099			530,581			496,159

⁽¹⁾

Effective January 1, 2013, the Corporation revised, on a prospective basis, its methodology for allocating capital to the business segments. In connection with the change in methodology, the Corporation updated the applicable terminology in the above table to allocated capital from economic capital as reported in prior periods. For more information, see Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 47-50.

⁽²⁾

Return on average allocated capital and return on average economic capital are calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital or average economic capital, as applicable. Allocated capital, economic capital and the related returns are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 47-50.)


⁽³⁾	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.



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



Bank of America Corporation and Subsidiaries
Consumer & Business Banking Annual Results
(Dollars in millions)
	Year Ended December 31, 2013
	Total Consumer & Business Banking			Deposits ⁽¹⁾			Consumer Lending ⁽²⁾
Net interest income (FTE basis)	$	20,051		$	9,808		$	10,243
Noninterest income:
Card income	4,804			60			4,744
Service charges	4,208			4,208			—
All other income	804			509			295
Total noninterest income	9,816			4,777			5,039
Total revenue, net of interest expense (FTE basis)	29,867			14,585			15,282

Provision for credit losses	3,107			299			2,808

Noninterest expense	16,357			10,927			5,430
Income before income taxes	10,403			3,359			7,044
Income tax expense (FTE basis)	3,815			1,232			2,583
Net income	$	6,588		$	2,127		$	4,461

Net interest yield (FTE basis)	3.72		%	1.88		%	7.18		%
Return on average allocated capital ^{(3, 4)}	21.98			13.82			30.60
Efficiency ratio (FTE basis)	54.76			74.92			35.53

Balance Sheet
Average
Total loans and leases	$	164,570		$	22,437		$	142,133
Total earning assets ⁽⁵⁾	539,213			522,870			142,725
Total assets ⁽⁵⁾	580,714			555,653			151,443
Total deposits	518,980			518,470			n/m
Allocated capital ^{(3, 4)}	30,000			15,400			14,600

Period end
Total loans and leases	$	165,090		$	22,574		$	142,516
Total earning assets ⁽⁵⁾	550,610			534,946			143,917
Total assets ⁽⁵⁾	592,978			567,837			153,394
Total deposits	531,707			530,947			n/m

	Year Ended December 31, 2012
	Total Consumer & Business Banking			Deposits ⁽¹⁾			Consumer Lending ⁽²⁾
Net interest income (FTE basis)	$	19,853		$	9,046		$	10,807
Noninterest income:
Card income	5,315			62			5,253
Service charges	4,277			4,277			—
All other income (loss)	345			397			(52		)
Total noninterest income	9,937			4,736			5,201
Total revenue, net of interest expense (FTE basis)	29,790			13,782			16,008

Provision for credit losses	4,148			488			3,660

Noninterest expense	16,995			11,310			5,685
Income before income taxes	8,647			1,984			6,663
Income tax expense (FTE basis)	3,101			723			2,378
Net income	$	5,546		$	1,261		$	4,285

Net interest yield (FTE basis)	4.04		%	1.90		%	7.18		%
Return on average economic capital ^{(3, 4)}	23.12			9.72			38.83
Efficiency ratio (FTE basis)	57.05			82.07			35.51

Balance Sheet
Average
Total loans and leases	$	173,036		$	23,369		$	149,667
Total earning assets ⁽⁵⁾	491,767			477,142			150,515
Total assets ⁽⁵⁾	532,827			510,384			158,333
Total deposits	475,180			474,822			n/m
Economic capital ^{(3, 4)}	24,051			12,985			11,066

Period end
Total loans and leases	$	169,266		$	22,907		$	146,359
Total earning assets ⁽⁵⁾	513,109			498,147			146,809
Total assets ⁽⁵⁾	554,915			531,354			155,408
Total deposits	496,159			495,711			n/m

For footnotes see page 20.

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



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



Bank of America Corporation and Subsidiaries
Consumer & Business Banking Quarterly Results
(Dollars in millions)
	Fourth Quarter 2013
	Total Consumer & Business Banking			Deposits ⁽¹⁾			Consumer Lending ⁽²⁾
Net interest income (FTE basis)	$	4,948		$	2,492		$	2,456
Noninterest income:
Card income	1,236			15			1,221
Service charges	1,097			1,097			—
All other income	216			164			52
Total noninterest income	2,549			1,276			1,273
Total revenue, net of interest expense (FTE basis)	7,497			3,768			3,729

Provision for credit losses	427			105			322

Noninterest expense	4,042			2,624			1,418
Income before income taxes	3,028			1,039			1,989
Income tax expense (FTE basis)	1,061			365			696
Net income	$	1,967		$	674		$	1,293

Net interest yield (FTE basis)	3.58		%	1.86		%	6.87		%
Return on average allocated capital ^{(3, 4)}	26.03			17.36			35.18
Efficiency ratio (FTE basis)	53.92			69.63			38.03

Balance Sheet
Average
Total loans and leases	$	163,152		$	22,333		$	140,819
Total earning assets ⁽⁵⁾	548,174			532,312			141,869
Total assets ⁽⁵⁾	590,073			565,219			150,861
Total deposits	528,808			528,204			n/m
Allocated capital ^{(3, 4)}	30,000			15,400			14,600

Period end
Total loans and leases	$	165,090		$	22,574		$	142,516
Total earning assets ⁽⁵⁾	550,610			534,946			143,917
Total assets ⁽⁵⁾	592,978			567,837			153,394
Total deposits	531,707			530,947			n/m

	Third Quarter 2013
	Total Consumer & Business Banking			Deposits ⁽¹⁾			Consumer Lending ⁽²⁾
Net interest income (FTE basis)	$	5,056		$	2,457		$	2,599
Noninterest income:
Card income	1,175			15			1,160
Service charges	1,063			1,063			—
All other income	230			126			104
Total noninterest income	2,468			1,204			1,264
Total revenue, net of interest expense (FTE basis)	7,524			3,661			3,863

Provision for credit losses	761			96			665

Noninterest expense	3,980			2,670			1,310
Income before income taxes	2,783			895			1,888
Income tax expense (FTE basis)	1,004			323			681
Net income	$	1,779		$	572		$	1,207

Net interest yield (FTE basis)	3.70		%	1.85		%	7.17		%
Return on average allocated capital ^{(3, 4)}	23.55			14.74			32.84
Efficiency ratio (FTE basis)	52.90			72.92			33.92

Balance Sheet
Average
Total loans and leases	$	165,707		$	22,371		$	143,336
Total earning assets ⁽⁵⁾	542,545			525,998			143,771
Total assets ⁽⁵⁾	583,855			558,638			152,441
Total deposits	522,023			521,511			n/m
Allocated capital ^{(3, 4)}	30,000			15,400			14,600

Period end
Total loans and leases	$	167,254		$	22,369		$	144,885
Total earning assets ⁽⁵⁾	547,187			530,658			145,323
Total assets ⁽⁵⁾	588,627			563,110			154,311
Total deposits	526,876			526,318			n/m

For footnotes see page 20.

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



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



Bank of America Corporation and Subsidiaries
Consumer & Business Banking Quarterly Results (continued)
(Dollars in millions)
	Fourth Quarter 2012
	Total Consumer & Business Banking			Deposits ⁽¹⁾			Consumer Lending ⁽²⁾
Net interest income (FTE basis)	$	4,869		$	2,213		$	2,656
Noninterest income:
Card income	1,342			16			1,326
Service charges	1,034			1,034			—
All other income	156			123			33
Total noninterest income	2,532			1,173			1,359
Total revenue, net of interest expense (FTE basis)	7,401			3,386			4,015

Provision for credit losses	1,078			74			1,004

Noninterest expense	4,174			2,799			1,375
Income before income taxes	2,149			513			1,636
Income tax expense (FTE basis)	703			180			523
Net income	$	1,446		$	333		$	1,113

Net interest yield (FTE basis)	3.88		%	1.81		%	7.29		%
Return on average economic capital ^{(3, 4)}	23.46			9.85			39.99
Efficiency ratio (FTE basis)	56.39			82.61			34.27

Balance Sheet
Average
Total loans and leases	$	167,219		$	22,695		$	144,524
Total earning assets ⁽⁵⁾	499,241			485,908			145,008
Total assets ⁽⁵⁾	540,787			519,064			153,398
Total deposits	484,086			483,686			n/m
Economic capital ^{(3, 4)}	24,561			13,467			11,094

Period end
Total loans and leases	$	169,266		$	22,907		$	146,359
Total earning assets ⁽⁵⁾	513,109			498,147			146,809
Total assets ⁽⁵⁾	554,915			531,354			155,408
Total deposits	496,159			495,711			n/m


⁽¹⁾	During the first quarter of 2013, Business Banking results were moved into Deposits and prior periods were reclassified to conform to current period presentation.


⁽²⁾	During the second quarter of 2013, consumer Dealer Financial Services results were moved into Card Services from Global Banking. As a result, Card Services was renamed Consumer Lending. Prior periods were reclassified to conform to current period presentation.

⁽³⁾

⁽⁴⁾


⁽⁵⁾	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 & Business Banking.

n/m = not meaningful

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



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



Bank of America Corporation and Subsidiaries
Consumer & Business Banking Key Indicators
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
Average deposit balances
Checking	$	238,242		$	210,499		$	246,752		$	240,037		$	238,033		$	227,920		$	217,811
Savings	42,165			39,224			42,139			42,365			43,183			40,959			39,121
MMS	162,361			143,500			167,362			164,402			162,432			155,088			148,171
CDs and IRAs	71,821			77,689			68,192			70,888			74,064			74,217			74,589
Non-U.S. and other	4,391			4,268			4,363			4,331			4,547			4,324			4,394
Total average deposit balances	$	518,980		$	475,180		$	528,808		$	522,023		$	522,259		$	502,508		$	484,086

Deposit spreads (excludes noninterest costs)
Checking	2.03		%	2.55		%	2.02		%	2.01		%	2.02		%	2.06		%	2.28		%
Savings	2.21			2.71			2.23			2.21			2.20			2.20			2.48
MMS	1.07			1.20			1.10			1.07			1.05			1.04			1.11
CDs and IRAs	0.52			0.58			0.50			0.51			0.51			0.55			0.57
Non-U.S. and other	0.95			1.00			0.85			0.93			1.00			1.02			0.93
Total deposit spreads	1.52			1.81			1.54			1.52			1.51			1.52			1.66

Client brokerage assets	$	96,048		$	75,946		$	96,048		$	89,517		$	84,182		$	82,616		$	75,946

Online banking active accounts (units in thousands)	29,950			29,638			29,950			30,197			29,867			30,102			29,638
Mobile banking active accounts (units in thousands)	14,395			12,013			14,395			13,967			13,214			12,641			12,013
Banking centers	5,151			5,478			5,151			5,243			5,328			5,389			5,478
ATMs	16,259			16,347			16,259			16,201			16,354			16,311			16,347

Total Corporation U.S. credit card ⁽¹⁾
Loans
Average credit card outstandings	$	90,369		$	94,863		$	90,057		$	90,005		$	89,722		$	91,712		$	92,849
Ending credit card outstandings	92,338			94,835			92,338			90,280			90,523			90,047			94,835
Credit quality
Net charge-offs	$	3,376		$	4,632		$	724		$	788		$	917		$	947		$	978
	3.74		%	4.88		%	3.19		%	3.47		%	4.10		%	4.19		%	4.19		%
30+ delinquency	$	2,074		$	2,748		$	2,074		$	2,112		$	2,200		$	2,510		$	2,748
	2.25		%	2.90		%	2.25		%	2.34		%	2.43		%	2.79		%	2.90		%
90+ delinquency	$	1,053		$	1,437		$	1,053		$	1,049		$	1,167		$	1,360		$	1,437
	1.14		%	1.52		%	1.14		%	1.16		%	1.29		%	1.51		%	1.52		%
Other Total Corporation U.S. credit card indicators ⁽¹⁾
Gross interest yield	9.73		%	10.02		%	9.36		%	9.82		%	9.80		%	9.95		%	10.01		%
Risk adjusted margin	8.68			7.54			9.11			8.68			8.41			8.51			8.48
New account growth (in thousands)	3,911			3,258			1,000			1,048			957			906			837
Purchase volumes	$	205,914		$	193,500		$	54,514		$	52,823		$	51,945		$	46,632		$	51,628

Debit card data
Purchase volumes	$	267,087		$	258,363		$	68,000		$	66,712		$	67,740		$	64,635		$	66,217


⁽¹⁾	In addition to the U.S. credit card portfolio in Consumer & Business Banking, the remaining U.S. credit card portfolio is primarily in GWIM.

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



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



Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Segment Results
(Dollars in millions; except as noted)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
Net interest income (FTE basis)	$	2,890		$	2,930		$	715		$	733		$	699		$	743		$	729
Noninterest income:
Mortgage banking income (loss)	4,585			5,553			912			775			1,411			1,487			(284		)
All other income	241			268			85			69			5			82			30
Total noninterest income (loss)	4,826			5,821			997			844			1,416			1,569			(254		)
Total revenue, net of interest expense (FTE basis)	7,716			8,751			1,712			1,577			2,115			2,312			475

Provision for credit losses	(156		)	1,442			(474		)	(308		)	291			335			485

Noninterest expense	16,013			17,190			3,794			3,419			3,394			5,406			5,607
Loss before income taxes	(8,141		)	(9,881		)	(1,608		)	(1,534		)	(1,570		)	(3,429		)	(5,617		)
Income tax benefit (FTE basis)	(2,986		)	(3,442		)	(547		)	(534		)	(633		)	(1,272		)	(1,913		)
Net loss	$	(5,155	)	$	(6,439	)	$	(1,061	)	$	(1,000	)	$	(937	)	$	(2,157	)	$	(3,704	)

Net interest yield (FTE basis)	2.85		%	2.43		%	2.89		%	2.91		%	2.75		%	2.85		%	2.66		%

Balance Sheet
Average
Total loans and leases	$	90,278		$	103,524		$	89,687		$	88,406		$	90,114		$	92,963		$	96,605
Total earning assets	101,420			120,636			98,220			99,759			102,086			105,715			109,139
Total assets	120,560			145,369			113,584			118,226			122,276			128,340			131,663
Allocated capital ^{(1, 2)}	24,000			—			24,000			24,000			24,000			24,000			—
Economic capital ^{(1, 2)}	—			13,676			—			—			—			—			12,474

Period end
Total loans and leases	$	89,753		$	94,660		$	89,753		$	87,586		$	89,257		$	90,971		$	94,660
Total earning assets	97,163			106,974			97,163			98,247			102,211			105,544			106,974
Total assets	113,386			131,059			113,386			115,424			124,032			129,118			131,059

Period end (in billions)
Mortgage servicing portfolio ^{(3, 4)}	$	810.0		$	1,331.8		$	810.0		$	889.4		$	986.4		$	1,185.0		$	1,331.8

⁽¹⁾


⁽²⁾	Allocated capital and economic capital are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 47-50.)


⁽³⁾	Includes servicing of residential mortgage loans, home equity lines of credit and home equity loans.


⁽⁴⁾	Excludes loans for which servicing transferred to third parties as of December 31, 2013 with an effective mortgage servicing right sales date of January 2, 2014.

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



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



Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Annual Results ⁽¹⁾
(Dollars in millions)
	Year Ended December 31, 2013
	Total Consumer Real Estate Services			Home Loans			Legacy Assets & Servicing
Net interest income (FTE basis)	$	2,890		$	1,349		$	1,541
Noninterest income:
Mortgage banking income	4,585			1,916			2,669
All other income (loss)	241			(6		)	247
Total noninterest income	4,826			1,910			2,916
Total revenue, net of interest expense (FTE basis)	7,716			3,259			4,457

Provision for credit losses	(156		)	127			(283		)

Noninterest expense	16,013			3,318			12,695
Loss before income taxes	(8,141		)	(186		)	(7,955		)
Income tax benefit (FTE basis)	(2,986		)	(68		)	(2,918		)
Net loss	$	(5,155	)	$	(118	)	$	(5,037	)

Balance Sheet
Average
Total loans and leases	$	90,278		$	47,675		$	42,603
Total earning assets	101,420			53,148			48,272
Total assets	120,560			53,429			67,131
Allocated capital ^{(2, 3)}	24,000			6,000			18,000

Period end
Total loans and leases	$	89,753		$	51,021		$	38,732
Total earning assets	97,163			54,071			43,092
Total assets	113,386			53,927			59,459

	Year Ended December 31, 2012
	Total Consumer Real Estate Services			Home Loans			Legacy Assets & Servicing
Net interest income (FTE basis)	$	2,930		$	1,361		$	1,569
Noninterest income:
Mortgage banking income	5,553			3,284			2,269
All other income	268			1			267
Total noninterest income	5,821			3,285			2,536
Total revenue, net of interest expense (FTE basis)	8,751			4,646			4,105

Provision for credit losses	1,442			72			1,370

Noninterest expense	17,190			3,195			13,995
Income (loss) before income taxes	(9,881		)	1,379			(11,260		)
Income tax expense (benefit) (FTE basis)	(3,442		)	502			(3,944		)
Net income (loss)	$	(6,439	)	$	877		$	(7,316	)

Balance Sheet
Average
Total loans and leases	$	103,524		$	50,023		$	53,501
Total earning assets	120,636			56,581			64,055
Total assets	145,369			57,552			87,817
Economic capital ^{(2, 3)}	13,676			3,734			9,942

Period end
Total loans and leases	$	94,660		$	47,742		$	46,918
Total earning assets	106,974			54,394			52,580
Total assets	131,059			55,465			75,594

For footnotes see page 25.

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



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



Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Quarterly Results ⁽¹⁾
(Dollars in millions)
	Fourth Quarter 2013
	Total Consumer Real Estate Services			Home Loans			Legacy Assets & Servicing
Net interest income (FTE basis)	$	715		$	330		$	385
Noninterest income:
Mortgage banking income	912			220			692
All other income	85			17			68
Total noninterest income	997			237			760
Total revenue, net of interest expense (FTE basis)	1,712			567			1,145

Provision for credit losses	(474		)	(18		)	(456		)

Noninterest expense	3,794			755			3,039
Loss before income taxes	(1,608		)	(170		)	(1,438		)
Income tax benefit (FTE basis)	(547		)	(62		)	(485		)
Net loss	$	(1,061	)	$	(108	)	$	(953	)

Balance Sheet
Average
Total loans and leases	$	89,687		$	49,706		$	39,981
Total earning assets	98,220			53,052			45,168
Total assets	113,584			52,932			60,652
Allocated capital ^{(2, 3)}	24,000			6,000			18,000

Period end
Total loans and leases	$	89,753		$	51,021		$	38,732
Total earning assets	97,163			54,071			43,092
Total assets	113,386			53,927			59,459

	Third Quarter 2013
	Total Consumer Real Estate Services			Home Loans			Legacy Assets & Servicing
Net interest income (FTE basis)	$	733		$	329		$	404
Noninterest income:
Mortgage banking income	775			345			430
All other income	69			35			34
Total noninterest income	844			380			464
Total revenue, net of interest expense (FTE basis)	1,577			709			868

Provision for credit losses	(308		)	(11		)	(297		)

Noninterest expense	3,419			880			2,539
Loss before income taxes	(1,534		)	(160		)	(1,374		)
Income tax benefit (FTE basis)	(534		)	(61		)	(473		)
Net loss	$	(1,000	)	$	(99	)	$	(901	)

Balance Sheet
Average
Total loans and leases	$	88,406		$	46,878		$	41,528
Total earning assets	99,759			52,074			47,685
Total assets	118,226			52,309			65,917
Allocated capital ^{(2, 3)}	24,000			6,000			18,000

Period end
Total loans and leases	$	87,586		$	46,875		$	40,711
Total earning assets	98,247			51,248			46,999
Total assets	115,424			51,075			64,349

For footnotes see page 25.

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



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



Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Quarterly Results ⁽¹⁾(continued)
(Dollars in millions)
	Fourth Quarter 2012
	Total Consumer Real Estate Services			Home Loans		Legacy Assets & Servicing
Net interest income (FTE basis)	$	729		$	348	$	381
Noninterest income:
Mortgage banking income (loss)	(284		)	891		(1,175		)
All other income	30			13		17
Total noninterest income (loss)	(254		)	904		(1,158		)
Total revenue, net of interest expense (FTE basis)	475			1,252		(777		)

Provision for credit losses	485			77		408

Noninterest expense	5,607			747		4,860
Income (loss) before income taxes	(5,617		)	428		(6,045		)
Income tax expense (benefit) (FTE basis)	(1,913		)	151		(2,064		)
Net income (loss)	$	(3,704	)	$	277	$	(3,981	)

Balance Sheet
Average
Total loans and leases	$	96,605		$	48,312	$	48,293
Total earning assets	109,139			54,720		54,419
Total assets	131,663			55,611		76,052
Economic capital ^{(2, 3)}	12,474			3,888		8,586

Period end
Total loans and leases	$	94,660		$	47,742	$	46,918
Total earning assets	106,974			54,394		52,580
Total assets	131,059			55,465		75,594


⁽¹⁾	Consumer Real Estate Services includes Home Loans and Legacy Assets & Servicing. The results of certain mortgage servicing rights activities, including net hedge results, together with any related assets or liabilities used as economic hedges, are included in Legacy Assets & Servicing.

⁽²⁾


⁽³⁾	Allocated capital and economic capital are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 47-50.)

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



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



Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Key Indicators
(Dollars in millions, except as noted)
	Year Ended December 31								Fourth Quarter 2013				Third Quarter 2013				Second Quarter 2013				First Quarter 2013				Fourth Quarter 2012
	2013				2012				Fourth Quarter 2013				Third Quarter 2013				Second Quarter 2013				First Quarter 2013				Fourth Quarter 2012
Mortgage servicing rights at fair value rollforward:
Balance, beginning of period	$	5,716			$	7,378			$	5,058			$	5,827			$	5,776			$	5,716			$	5,087
Net additions (sales)	(1,572		)		252				(197		)		(600		)		(715		)		(60		)		97
Amortization of expected cash flows ⁽¹⁾	(1,043		)		(1,484		)		(229		)		(240		)		(260		)		(314		)		(335		)
Other changes in mortgage servicing rights fair value ⁽²⁾	1,941				(430		)		410				71				1,026				434				867
Balance, end of period	$	5,042			$	5,716			$	5,042			$	5,058			$	5,827			$	5,776			$	5,716

Capitalized mortgage servicing rights (% of loans serviced for investors)	92			bps	55			bps	92			bps	82			bps	77			bps	61			bps	55			bps
Mortgage loans serviced for investors (in billions)	$	550			$	1,045			$	550			$	616			$	759			$	949			$	1,045

Loan production:
Total Corporation ⁽³⁾
First mortgage	$	83,421			$	75,074			$	11,624			$	22,601			$	25,276			$	23,920			$	21,516
Home equity	6,355				3,585				1,915				1,828				1,496				1,116				962
Consumer Real Estate Services
First mortgage	$	66,914			$	55,518			$	9,303			$	17,833			$	20,509			$	19,269			$	16,561
Home equity	5,498				2,832				1,674				1,599				1,283				942				765

Mortgage banking income (loss)
Production income (loss):
Core production revenue	$	2,543			$	3,760			$	403			$	465			$	860			$	815			$	986
Representations and warranties provision	(840		)		(3,939		)		(70		)		(323		)		(197		)		(250		)		(2,955		)
Total production income (loss)	1,703				(179		)		333				142				663				565				(1,969		)
Servicing income:
Servicing fees	3,030				4,729				629				700				785				916				1,096
Amortization of expected cash flows ⁽¹⁾	(1,043		)		(1,484		)		(229		)		(240		)		(260		)		(314		)		(335		)
Fair value changes of mortgage servicing rights, net of risk management activities used to hedge certain market risks ⁽⁴⁾	867				1,852				174				167				215				311				912
Other servicing-related revenue	28				635				5				6				8				9				12
Total net servicing income	2,882				5,732				579				633				748				922				1,685
Total Consumer Real Estate Services mortgage banking income (loss)	4,585				5,553				912				775				1,411				1,487				(284		)
Other business segments' mortgage banking loss ⁽⁵⁾	(711		)		(803		)		(64		)		(190		)		(233		)		(224		)		(256		)
Total consolidated mortgage banking income (loss)	$	3,874			$	4,750			$	848			$	585			$	1,178			$	1,263			$	(540	)


⁽¹⁾	Represents the net change in fair value of the MSR asset due to the recognition of modeled cash flows.

⁽²⁾

These amounts reflect the changes in modeled mortgage servicing rights fair value primarily due to observed changes in interest rates, volatility, spreads and the shape of the forward swap curve. In addition, these amounts reflect periodic adjustments to the valuation model to reflect changes in the modeled relationship between inputs and their impact on projected cash flows, changes in certain cash flow assumptions such as cost to service and ancillary income per loan, changes in OAS rate inputs and the impact of periodic recalibrations of the model to reflect changes in the relationship between market interest rate spreads and projected cash flows.


⁽³⁾	In addition to loan production in Consumer Real Estate Services, the remaining first mortgage and home equity loan production is primarily in GWIM.


⁽⁴⁾	Includes gains and losses on sales of mortgage servicing rights.


⁽⁵⁾	Includes the effect of transfers of mortgage loans from Consumer Real Estate Services to the asset and liability management portfolio included in All Other.

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



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



Bank of America Corporation and Subsidiaries
Global Banking Segment Results ⁽¹⁾
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012
Net interest income (FTE basis)	$	8,914		$	8,135		$	2,301		$	2,201		$	2,252		$	2,160		$	2,099
Noninterest income:
Service charges	2,787			2,867			684			716			701			686			694
Investment banking income	3,235			2,793			960			693			792			790			842
All other income	1,545			1,879			360			398			393			394			316
Total noninterest income	7,567			7,539			2,004			1,807			1,886			1,870			1,852
Total revenue, net of interest expense (FTE basis)	16,481			15,674			4,305			4,008			4,138			4,030			3,951

Provision for credit losses	1,075			(342		)	441			322			163			149			62

Noninterest expense	7,552			7,619			1,927			1,927			1,856			1,842			1,753
Income before income taxes	7,854			8,397			1,937			1,759			2,119			2,039			2,136
Income tax expense (FTE basis)	2,880			3,053			670			625			827			758			744
Net income	$	4,974		$	5,344		$	1,267		$	1,134		$	1,292		$	1,281		$	1,392

Net interest yield (FTE basis)	2.96		%	2.90		%	2.71		%	2.86		%	3.16		%	3.17		%	2.85		%
Return on average allocated capital ^{(2, 3)}	21.64			—			21.86			19.57			22.55			22.59			—
Return on average economic capital ^{(2, 3)}	—			27.69			—			—			—			—			28.97
Efficiency ratio (FTE basis)	45.82			48.61			44.76			48.06			44.87			45.71			44.41

Balance Sheet
Average
Total loans and leases	$	257,245		$	224,336		$	268,849		$	260,085		$	255,674		$	244,068		$	232,396
Total earnings assets ⁽⁴⁾	301,204			280,605			336,941			305,376			285,755			276,030			292,999
Total assets ⁽⁴⁾	343,464			322,701			380,496			347,062			327,531			318,043			336,332
Total deposits	237,457			223,940			259,762			239,839			227,668			222,120			242,817
Allocated capital ^(2,3)	23,000			—			23,000			23,000			23,000			23,000			—
Economic capital ^{(2, 3)}	—			19,312			—			—			—			—			19,123

Period end
Total loans and leases	$	269,469		$	242,340		$	269,469		$	267,165		$	258,502		$	250,985		$	242,340
Total earnings assets ⁽⁴⁾	337,154			288,072			337,154			330,625			292,952			280,104			288,072
Total assets ⁽⁴⁾	379,207			331,611			379,207			373,110			334,820			322,039			331,611
Total deposits	265,718			243,306			265,718			263,121			229,586			228,248			243,306


⁽¹⁾	During the second quarter of 2013, the results of consumer Dealer Financial Services, previously reported in Global Banking, were moved to Consumer & Business Banking. Prior periods have been reclassified to conform to current period presentation.

⁽²⁾

Effective January 1, 2013, the Corporation revised, on a prospective basis, its methodology for allocating capital to the business segments. In connection with the change in methodology, the Corporation updated the applicable terminology in the above table to allocated capital from economic capital as reported in prior periods. For additional information, see Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 47-50.

⁽³⁾


⁽⁴⁾	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.



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



Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
Investment Banking fees ⁽¹⁾
Advisory ⁽²⁾	$	1,022		$	995		$	323		$	226		$	240		$	233		$	285
Debt issuance	1,620			1,390			443			343			405			429			450
Equity issuance	593			408			194			124			147			128			107
Total Investment Banking fees⁽³⁾	$	3,235		$	2,793		$	960		$	693		$	792		$	790		$	842

Business Lending
Corporate	$	3,407		$	3,201		$	817		$	884		$	855		$	851		$	739
Commercial	3,967			3,622			1,011			960			1,050			946			909
Total Business Lending revenue	$	7,374		$	6,823		$	1,828		$	1,844		$	1,905		$	1,797		$	1,648

Treasury Services
Corporate	$	2,815		$	2,633		$	734		$	713		$	702		$	666		$	687
Commercial	2,939			2,988			747			741			733			718			732
Total Treasury Services revenue	$	5,754		$	5,621		$	1,481		$	1,454		$	1,435		$	1,384		$	1,419

Average deposit balances
Interest-bearing	$	72,870		$	65,400		$	78,862		$	73,699		$	70,158		$	68,639		$	68,240
Noninterest-bearing	164,587			158,540			180,900			166,140			157,510			153,481			174,577
Total average deposits	$	237,457		$	223,940		$	259,762		$	239,839		$	227,668		$	222,120		$	242,817

Loan spread	1.82		%	1.88		%	1.75		%	1.78		%	1.89		%	1.86		%	1.83		%

Provision for credit losses	$	1,075		$	(342	)	$	441		$	322		$	163		$	149		$	62

Credit quality ^{(4, 5)}
Reservable utilized criticized exposure	$	9,357		$	10,952		$	9,357		$	10,111		$	10,632		$	10,342		$	10,952
	3.17		%	4.06		%	3.17		%	3.44		%	3.73		%	3.71		%	4.06		%

Nonperforming loans, leases and foreclosed properties	$	639		$	2,052		$	639		$	919		$	1,087		$	1,643		$	2,052
	0.24		%	0.86		%	0.24		%	0.35		%	0.43		%	0.66		%	0.86		%

Average loans and leases by product
U.S. commercial	$	128,392		$	117,635		$	132,249		$	128,602		$	127,742		$	124,891		$	121,535
Commercial real estate	38,349			32,827			42,622			39,172			36,684			34,825			33,404
Commercial lease financing	24,762			23,446			25,115			24,853			24,584			24,486			24,057
Non-U.S. commercial	65,738			50,416			68,860			67,455			66,655			59,859			53,392
Other	4			12			3			3			9			7			8
Total average loans and leases	$	257,245		$	224,336		$	268,849		$	260,085		$	255,674		$	244,068		$	232,396

Total Corporation Investment Banking fees
Advisory ⁽²⁾	$	1,131		$	1,066		$	356		$	256		$	262		$	257		$	301
Debt issuance	3,805			3,362			986			810			987			1,022			1,078
Equity issuance	1,469			1,026			461			329			356			323			250
Total investment banking fees including self-led	6,405			5,454			1,803			1,395			1,605			1,602			1,629
Self-led	(279		)	(155		)	(65		)	(98		)	(49		)	(67		)	(29		)
Total Investment Banking fees	$	6,126		$	5,299		$	1,738		$	1,297		$	1,556		$	1,535		$	1,600


⁽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 of Global Banking and do not include certain less significant 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.



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



Bank of America Corporation and Subsidiaries
Investment Banking Product Rankings

	Year Ended December 31, 2013
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
High-yield corporate debt	3	8.2	%	2	10.0	%
Leveraged loans	2	10.0		2	12.4
Mortgage-backed securities	5	8.5		5	9.4
Asset-backed securities	2	11.5		2	13.9
Convertible debt	4	7.7		3	12.8
Common stock underwriting	4	6.8		4	10.3
Investment-grade corporate debt	2	6.3		2	11.8
Syndicated loans	2	9.1		2	12.9
Net investment banking revenue	2	7.4		2	10.8
Announced mergers and acquisitions	4	19.5		3	28.4
Equity capital markets	4	6.9		4	10.7
Debt capital markets	5	5.4		3	9.2

Source: Dealogic data as of January 2, 2014. 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 investment banking revenues 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 the target or acquiror.


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

Highlights



Global top 3 rankings in:
High-yield corporate debt		Investment-grade corporate debt
Leveraged loans		Syndicated loans
Asset-backed securities

U.S. top 3 rankings in:
High-yield corporate debt		Investment-grade corporate debt
Leveraged loans		Syndicated loans
Asset-backed securities		Announced mergers and acquisitions
Convertible debt		Debt capital markets

Top 3 rankings excluding self-led deals:


Global:	High-yield corporate debt, Leveraged loans, Asset-backed securities, Investment-grade corporate debt, Syndicated loans


U.S.:	High-yield corporate debt, Leveraged loans, Asset-backed securities, Convertible debt, Investment-grade corporate debt, Syndicated loans, Announced mergers and acquisitions



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



Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
Net interest income (FTE basis)	$	4,239		$	3,672		$	1,142		$	975		$	1,013		$	1,109		$	1,114
Noninterest income:
Investment and brokerage services	2,046			1,820			489			480			549			528			430
Investment banking fees	2,722			2,214			753			622			668			679			668
Trading account profits	6,734			5,706			795			1,201			1,848			2,890			725
All other income (loss)	317			872			445			98			111			(337		)	83
Total noninterest income	11,819			10,612			2,482			2,401			3,176			3,760			1,906
Total revenue, net of interest expense (FTE basis) ⁽¹⁾	16,058			14,284			3,624			3,376			4,189			4,869			3,020

Provision for credit losses	140			34			104			47			(16		)	5			17

Noninterest expense	12,013			11,295			3,284			2,884			2,771			3,074			2,627
Income before income taxes	3,905			2,955			236			445			1,434			1,790			376
Income tax expense (FTE basis)	2,342			1,726			21			1,223			476			622			195
Net income (loss)	$	1,563		$	1,229		$	215		$	(778	)	$	958		$	1,168		$	181

Return on average allocated capital ^{(2, 3)}	5.24		%	—			2.87		%	n/m			12.84		%	15.82		%	—
Return on average economic capital ^{(2, 3)}	—			8.95		%	—			—			—			—			5.12		%
Efficiency ratio (FTE basis)	74.81			79.08			90.63			85.45		%	66.15			63.12			86.97

Balance Sheet
Average
Total trading-related assets ⁽⁴⁾	$	468,934		$	466,045		$	438,909		$	442,597		$	490,972		$	504,266		$	493,188
Total earning assets⁽⁴⁾	481,482			461,487			458,988			458,657			499,396			509,694			493,901
Total assets	632,804			606,249			603,110			602,632			656,258			670,284			645,808
Allocated capital ^{(2, 3)}	30,000			—			30,000			30,000			30,000			30,000			—
Economic capital ^{(2, 3)}	—			13,824			—			—			—			—			14,184

Period end
Total trading-related assets ⁽⁴⁾	$	411,080		$	465,836		$	411,080		$	438,137		$	446,505		$	467,826		$	465,836
Total earning assets⁽⁴⁾	432,821			486,470			432,821			464,613			465,166			480,039			486,470
Total assets	575,709			632,263			575,709			601,139			608,907			626,797			632,263

Trading-related assets (average)
Trading account securities	$	215,885		$	197,618		$	209,734		$	193,108		$	225,796		$	235,437		$	220,434
Reverse repurchases	137,670			162,348			114,417			128,426			150,568			157,847			166,399
Securities borrowed	65,532			51,188			67,862			73,820			62,813			57,425			52,391
Derivative assets	49,847			54,891			46,896			47,243			51,795			53,557			53,964
Total trading-related assets ⁽⁴⁾	$	468,934		$	466,045		$	438,909		$	442,597		$	490,972		$	504,266		$	493,188


⁽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 31.

⁽²⁾

⁽³⁾


⁽⁴⁾	Trading-related assets include derivative assets, which are considered non-earning assets.

n/m = not meaningful

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



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



Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	Year Ended December 31				Fourth Quarter 2013		Third Quarter 2013		Second Quarter 2013		First Quarter 2013			Fourth Quarter 2012
	2013		2012		Fourth Quarter 2013		Third Quarter 2013		Second Quarter 2013		First Quarter 2013			Fourth Quarter 2012
Sales and trading revenue ⁽¹⁾
Fixed income, currency and commodities	$	8,882	$	8,812	$	1,887	$	1,767	$	2,292	$	2,936		$	1,551
Equities	4,200		3,014		897		945		1,199		1,159			674
Total sales and trading revenue	$	13,082	$	11,826	$	2,784	$	2,712	$	3,491	$	4,095		$	2,225

Sales and trading revenue, excluding debit valuation adjustment ⁽²⁾
Fixed income, currency and commodities	$	9,373	$	11,007	$	2,080	$	2,033	$	2,259	$	3,001		$	1,788
Equities	4,217		3,267		904		970		1,194		1,149			713
Total sales and trading revenue, excluding debit valuation adjustment	$	13,590	$	14,274	$	2,984	$	3,003	$	3,453	$	4,150		$	2,501

Sales and trading revenue breakdown
Net interest income	$	3,907	$	3,308	$	1,059	$	898	$	930	$	1,020		$	1,014
Commissions	2,046		1,820		489		480		549		528			430
Trading	6,734		5,706		795		1,201		1,848		2,890			725
Other	395		992		441		133		164		(343		)	56
Total sales and trading revenue	$	13,082	$	11,826	$	2,784	$	2,712	$	3,491	$	4,095		$	2,225


⁽¹⁾	Includes Global Banking sales and trading revenue of $385 million and $522 million for the years ended December 31, 2013 and 2012; $66 million, $109 million, $142 million and $68 million for the fourth, third, second and first quarters of 2013, respectively, and $49 million for the fourth quarter of 2012.

⁽²⁾

For this presentation, sales and trading revenue excludes debit valuation adjustment gains/losses which represents a non-GAAP financial measure. Net debit valuation adjustment losses included in fixed income, currency and commodities revenue were $491 million and $2.2 billion for the years ended December 31, 2013 and 2012; losses of $193 million, losses of $266 million, gains of $33 million and losses of $65 million for the fourth, third, second and first quarters of 2013, respectively, and losses of $237 million for the fourth quarter of 2012. Net debit valuation adjustment losses included in equities revenue were $17 million and $253 million for the years ended December 31, 2013 and 2012; losses of $7 million, losses of $25 million, gains of $5 million and gains of $10 million for the fourth, third, second and first quarters of 2013, respectively, and losses of $39 million for the fourth quarter of 2012.

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



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



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
Net interest income (FTE basis)	$	6,064		$	5,827		$	1,485		$	1,478		$	1,505		$	1,596		$	1,489
Noninterest income:
Investment and brokerage services	9,709			8,849			2,524			2,413			2,441			2,331			2,272
All other income	2,017			1,842			471			499			553			494			432
Total noninterest income	11,726			10,691			2,995			2,912			2,994			2,825			2,704
Total revenue, net of interest expense (FTE basis)	17,790			16,518			4,480			4,390			4,499			4,421			4,193

Provision for credit losses	56			266			26			23			(15		)	22			112

Noninterest expense	13,038			12,721			3,264			3,249			3,272			3,253			3,196
Income before income taxes	4,696			3,531			1,190			1,118			1,242			1,146			885
Income tax expense (FTE basis)	1,722			1,286			413			399			484			426			309
Net income	$	2,974		$	2,245		$	777		$	719		$	758		$	720		$	576

Net interest yield (FTE basis)	2.41		%	2.35		%	2.37		%	2.35		%	2.47		%	2.46		%	2.30		%
Return on average allocated capital ^{(1, 2)}	29.90			—			30.97			28.68			30.57			29.38			—
Return on average economic capital ^{(1, 2)}	—			30.80			—			—			—			—			28.36
Efficiency ratio (FTE basis)	73.29			77.02			72.87			74.00			72.72			73.58			76.24

Balance sheet
Average
Total loans and leases	$	111,023		$	100,456		$	115,546		$	112,752		$	109,589		$	106,082		$	103,785
Total earning assets ⁽³⁾	251,394			248,475			248,156			249,203			244,859			263,551			257,399
Total assets ⁽³⁾	270,788			268,475			268,683			268,611			263,735			282,298			276,408
Total deposits	242,161			242,384			240,395			239,663			235,344			253,413			249,658
Allocated capital ^{(1, 2)}	10,000			—			10,000			10,000			10,000			10,000			—
Economic capital ^{(1, 2)}	—			7,359			—			—			—			—			8,149

Period end
Total loans and leases	$	115,846		$	105,928		$	115,846		$	114,175		$	111,785		$	107,048		$	105,928
Total earning assets ⁽³⁾	254,031			277,121			254,031			250,677			244,340			248,939			277,121
Total assets ⁽³⁾	274,112			297,326			274,112			270,484			263,867			268,263			297,326
Total deposits	244,901			266,188			244,901			241,553			235,012			239,853			266,188

⁽¹⁾

⁽²⁾


⁽³⁾	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.



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



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Key Indicators
(Dollars in millions, except as noted)
	Year Ended December 31				Fourth Quarter 2013		Third Quarter 2013		Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013		2012		Fourth Quarter 2013		Third Quarter 2013		Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
Revenues
Merrill Lynch Global Wealth Management	$	14,771	$	13,735	$	3,703	$	3,646	$	3,742		$	3,680		$	3,500
U.S. Trust	2,953		2,709		762		730		740			721			690
Other ⁽¹⁾	66		74		15		14		17			20			3
Total revenues	$	17,790	$	16,518	$	4,480	$	4,390	$	4,499		$	4,421		$	4,193

Client Balances
Client Balances by Business
Merrill Lynch Global Wealth Management	$	1,916,803	$	1,743,459	$	1,916,803	$	1,853,980	$	1,800,151		$	1,812,412		$	1,743,459
U.S. Trust	376,487		341,292		376,487		362,791		351,119			354,721			341,292
Other ⁽¹⁾	73,148		66,874		73,148		66,665		63,781			64,603			66,874

Client Balances by Type
Assets under management	$	821,449	$	698,095	$	821,449	$	779,614	$	743,613		$	745,260		$	698,095
Brokerage Assets	1,045,122		960,351		1,045,122		1,013,688		992,664			1,009,507			960,351
Assets in custody	136,190		117,686		136,190		131,386		128,854			127,013			117,686
Deposits	244,901		266,188		244,901		241,553		235,012			239,853			266,188
Loans and leases ⁽²⁾	118,776		109,305		118,776		117,195		114,908			110,103			109,305
Total client balances	$	2,366,438	$	2,151,625	$	2,366,438	$	2,283,436	$	2,215,051		$	2,231,736		$	2,151,625

Assets Under Management Flows
Liquidity assets under management ⁽³⁾	$	6,502	$	618	$	6,492	$	2,932	$	(695	)	$	(2,227	)	$	2,545
Long-term assets under management ⁽⁴⁾	47,819		26,390		9,425		10,341		7,692			20,361			9,120
Total assets under management flows	$	54,321	$	27,008	$	15,917	$	13,273	$	6,997		$	18,134		$	11,665

Associates ⁽⁵⁾
Number of Financial Advisors	15,316		16,411		15,316		15,624		15,759			16,065			16,411
Total Wealth Advisors	16,517		17,640		16,517		16,846		16,989			17,293			17,640
Total Client Facing Professionals	19,229		20,386		19,229		19,534		19,689			20,018			20,386

Merrill Lynch Global Wealth Management Metrics
Financial Advisory Productivity ⁽⁶⁾ (in thousands)	$	1,005	$	902	$	1,039	$	1,000	$	1,012		$	971		$	927

U.S. Trust Metrics
Client Facing Professionals	2,103		2,077		2,103		2,090		2,084			2,090			2,077


⁽¹⁾	Other includes the results of BofA Global Capital Management and other administrative items.


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


⁽³⁾	Defined as assets under advisory and discretion of GWIM in which the investment strategy seeks a high level of income while maintaining liquidity and capital preservation. The duration of these strategies is less than one year.


⁽⁴⁾	Defined as assets under advisory and discretion of GWIM in which the duration of the investment strategy is longer than one year.


⁽⁵⁾	Includes Financial Advisors in the Consumer & Business Banking segment of 1,545, 1,585, 1,587, 1,591 and 1,496 at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively.


⁽⁶⁾	Financial Advisor Productivity is defined as annualized Merrill Lynch Global Wealth Management total revenue divided by the total number of Financial Advisors (excluding Financial Advisors in the Consumer & Business Banking segment). Total revenue excludes corporate allocation of net interest income related to certain ALM activities.

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



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



Bank of America Corporation and Subsidiaries
All Other Results ⁽¹⁾
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
Net interest income (FTE basis)	$	966		$	1,140		$	408		$	36		$	268		$	254		$	255
Noninterest income:
Card income	328			360			83			79			81			85			96
Equity investment income	2,610			1,135			392			1,122			576			520			569
Gains on sales of debt securities	1,230			1,510			364			347			452			67			117
All other loss	(3,245		)	(4,927		)	(1,164		)	(716		)	(803		)	(562		)	(1,186		)
Total noninterest income (loss)	923			(1,922		)	(325		)	832			306			110			(404		)
Total revenue, net of interest expense (FTE basis)	1,889			(782		)	83			868			574			364			(149		)

Provision for credit losses	(666		)	2,621			(188		)	(549		)	(179		)	250			450

Noninterest expense	4,241			6,273			996			930			547			1,768			1,003
Income (loss) before income taxes	(1,686		)	(9,676		)	(725		)	487			206			(1,654		)	(1,602		)
Income tax benefit (FTE basis)	(2,173		)	(5,939		)	(999		)	(156		)	(340		)	(678		)	(2,443		)
Net income (loss)	$	487		$	(3,737	)	$	274		$	643		$	546		$	(976	)	$	841

Balance Sheet
Average
Total loans and leases	$	235,454		$	259,241		$	226,049		$	232,538		$	238,910		$	244,557		$	247,128
Total assets ⁽²⁾	215,183			315,735			178,929			203,044			230,667			248,996			279,367
Total deposits	34,617			43,087			34,030			35,126			33,774			35,549			36,939

Period end
Total loans and leases	$	220,694		$	241,981		$	220,694		$	229,550		$	234,047		$	241,406		$	241,981
Total assets ⁽³⁾	166,881			262,800			166,881			177,869			204,118			235,435			262,800
Total deposits	27,702			36,061			27,702			30,705			34,597			35,759			36,061

⁽¹⁾

All Other consists of ALM activities, equity investments, the international consumer card business, liquidating businesses, residual expense allocations and other. ALM activities encompass the whole-loan residential mortgage portfolio and investment securities, interest rate and foreign currency risk management activities including the residual net interest income allocation, gains/losses on structured liabilities, the impact of certain allocation methodologies and accounting hedge ineffectiveness. The results of certain ALM activities are allocated to our business segments. Equity investments include Global Principal Investments and certain other investments. Additionally, All Other includes certain residential mortgage loans that are managed by Legacy Assets & Servicing.

⁽²⁾

Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $539.5 billion and $504.2 billion for the years ended December 31, 2013 and 2012; $564.6 billion, $541.0 billion, $525.1 billion and $526.8 billion for the fourth, third, second and first quarters of 2013, respectively, and $526.2 billion for the fourth quarter of 2012.


⁽³⁾	Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $570.3 billion, $558.0 billion, $529.5 billion, $537.7 billion and $537.6 billion at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively.

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



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



Bank of America Corporation and Subsidiaries
Equity Investments
(Dollars in millions)
	Global Principal Investments Exposures								Equity Investment Income (Loss)
	December 31, 2013						September 30 2013		December 31, 2013
	Book Value		Unfunded Commitments		Total		Total		Three Months Ended		Year Ended
Global Principal Investments
Private Equity Investments	$	20	$	—	$	20	$	352	$	6	$	190
Global Real Estate	296		31		327		330		51		(2		)
Global Strategic Capital	759		96		855		864		1		6
Legacy/Other Investments	529		—		529		541		42		184
Total Global Principal Investments	$	1,604	$	127	$	1,731	$	2,087	$	100	$	378



Components of Equity Investment Income
(Dollars in millions)
	Year Ended December 31				Fourth Quarter 2013		Third Quarter 2013		Second Quarter 2013		First Quarter 2013		Fourth Quarter 2012
	2013		2012		Fourth Quarter 2013		Third Quarter 2013		Second Quarter 2013		First Quarter 2013		Fourth Quarter 2012
Global Principal Investments	$	378	$	589	$	100	$	122	$	52	$	104	$	167
Strategic and other investments	2,232		546		292		1,000		524		416		402
Total equity investment income included in All Other	2,610		1,135		392		1,122		576		520		569
Total equity investment income included in the business segments	291		935		82		62		104		43		130
Total consolidated equity investment income	$	2,901	$	2,070	$	474	$	1,184	$	680	$	563	$	699

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



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



Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	December 31 2013		September 30 2013		December 31 2012
Consumer
Residential mortgage ⁽¹⁾	$	248,066	$	253,496	$	252,929
Home equity	93,672		96,653		108,140
U.S. credit card	92,338		90,280		94,835
Non-U.S. credit card	11,541		11,083		11,697
Direct/Indirect consumer ⁽²⁾	82,192		84,035		83,205
Other consumer ⁽³⁾	1,977		1,913		1,628
Total consumer loans excluding loans accounted for under the fair value option	529,786		537,460		552,434
Consumer loans accounted for under the fair value option ⁽⁴⁾	2,164		2,186		1,005
Total consumer	531,950		539,646		553,439

Commercial
U.S. commercial ⁽⁵⁾	225,851		224,262		209,719
Commercial real estate ⁽⁶⁾	47,893		44,940		38,637
Commercial lease financing	25,199		24,589		23,843
Non-U.S. commercial	89,462		92,945		74,184
Total commercial loans excluding loans accounted for under the option	388,405		386,736		346,383
Commercial loans accounted for under the fair value option ⁽⁴⁾	7,878		8,010		7,997
Total commercial	396,283		394,746		354,380
Total loans and leases	$	928,233	$	934,392	$	907,819


⁽¹⁾	Includes pay option loans of $4.4 billion, $5.2 billion and $6.7 billion and non-U.S. residential mortgage loans of $0, $87 million and $93 million at December 31, 2013, September 30, 2013 and December 31, 2012, respectively. The Corporation no longer originates pay option loans.

⁽²⁾

Includes dealer financial services loans of $38.5 billion, $39.5 billion and $35.9 billion, consumer lending loans of $2.7 billion, $3.1 billion and $4.7 billion, U.S. securities-based lending loans of $31.2 billion, $30.4 billion and $28.3 billion, non-U.S. consumer loans of $4.7 billion, $5.7 billion and $8.3 billion, student loans of $4.1 billion, $4.3 billion and $4.8 billion and other consumer loans of $1.0 billion, $1.0 billion and $1.2 billion at December 31, 2013, September 30, 2013 and December 31, 2012, respectively.


⁽³⁾	Includes consumer finance loans of $1.2 billion, $1.2 billion and $1.4 billion, consumer leases of $606 million, $492 million, and $34 million, consumer overdrafts of $176 million, $175 million and $177 million and other non-U.S. consumer loans of $5 million, $5 million and $5 million at December 31, 2013, September 30, 2013 and December 31, 2012, respectively.

⁽⁴⁾

Consumer loans accounted for under the fair value option were residential mortgage loans of $2.0 billion, $2.2 billion and $1.0 billion and home equity loans of $147 million, $0 and $0 at December 31, 2013, September 30, 2013 and December 31, 2012, respectively. Commercial loans accounted for under the fair value option were U.S. commercial loans of $1.5 billion, $1.8 billion and $2.3 billion and non-U.S. commercial loans of $6.4 billion, $6.2 billion and $5.7 billion at December 31, 2013, September 30, 2013 and December 31, 2012, respectively.


⁽⁵⁾	Includes U.S. small business commercial loans, including card-related products, of $13.3 billion, $13.1 billion and $12.6 billion at December 31, 2013, September 30, 2013 and December 31, 2012, respectively.


⁽⁶⁾	Includes U.S. commercial real estate loans of $46.3 billion, $43.5 billion and $37.2 billion and non-U.S. commercial real estate loans of $1.6 billion, $1.4 billion and $1.5 billion at December 31, 2013, September 30, 2013 and December 31, 2012, respectively.

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



This information is preliminary and based on company data available at the time of the presentation.	36



Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment
(Dollars in millions)
	Fourth Quarter 2013
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services		Global Banking		Global Markets		GWIM		All Other
Consumer
Residential mortgage	$	253,974	$	678	$	4,262	$	—	$	56	$	47,407	$	201,571
Home equity	95,388		145		85,274		—		144		8,364		1,461
U.S. credit card	90,057		86,746		—		—		—		3,311		—
Non-U.S. credit card	11,171		—		—		—		—		—		11,171
Direct/Indirect consumer	82,990		42,002		45		1		37		35,094		5,811
Other consumer	1,929		707		—		2		—		4		1,216
Total consumer	535,509		130,278		89,581		3		237		94,180		221,230

Commercial
U.S. commercial	225,596		32,134		106		132,249		35,430		19,624		6,053
Commercial real estate	46,341		732		—		42,622		1,075		1,587		325
Commercial lease financing	24,468		—		—		25,115		929		4		(1,580		)
Non-U.S. commercial	97,863		8		—		68,860		28,823		151		21
Total commercial	394,268		32,874		106		268,846		66,257		21,366		4,819
Total loans and leases	$	929,777	$	163,152	$	89,687	$	268,849	$	66,494	$	115,546	$	226,049

	Third Quarter 2013
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services		Global Banking		Global Markets		GWIM		All Other
Consumer
Residential mortgage	$	256,297	$	628	$	3,516	$	—	$	83	$	45,661	$	206,409
Home equity	98,172		146		84,761		—		108		11,719		1,438
U.S. credit card	90,005		90,005		—		—		—		—		—
Non-U.S. credit card	10,633		—		—		—		—		—		10,633
Direct/Indirect consumer	83,773		41,745		47		3		37		34,228		7,713
Other consumer	1,867		597		—		—		—		5		1,265
Total consumer	540,747		133,121		88,324		3		228		91,613		227,458

Commercial
U.S. commercial	221,542		31,356		82		128,602		35,771		19,464		6,267
Commercial real estate	43,164		1,218		—		39,172		887		1,488		399
Commercial lease financing	23,869		—		—		24,853		636		4		(1,624		)
Non-U.S. commercial	94,656		12		—		67,455		26,968		183		38
Total commercial	383,231		32,586		82		260,082		64,262		21,139		5,080
Total loans and leases	$	923,978	$	165,707	$	88,406	$	260,085	$	64,490	$	112,752	$	232,538

	Fourth Quarter 2012
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services		Global Banking		Global Markets		GWIM		All Other
Consumer
Residential mortgage	$	256,564	$	426	$	1,113	$	—	$	93	$	40,205	$	214,727
Home equity	110,270		146		95,343		—		84		13,164		1,533
U.S. credit card	92,849		92,849		—		—		—		—		—
Non-U.S. credit card	13,081		—		—		—		—		—		13,081
Direct/Indirect consumer	82,583		41,096		75		4		23		31,225		10,160
Other consumer	1,602		152		—		4		—		7		1,439
Total consumer	556,949		134,669		96,531		8		200		84,601		240,940

Commercial
U.S. commercial	209,496		30,202		73		121,535		32,898		17,691		7,097
Commercial real estate	38,192		2,330		1		33,404		341		1,427		689
Commercial lease financing	22,839		—		—		24,057		458		4		(1,680		)
Non-U.S. commercial	65,690		18		—		53,392		12,136		62		82
Total commercial	336,217		32,550		74		232,388		45,833		19,184		6,188
Total loans and leases	$	893,166	$	167,219	$	96,605	$	232,396	$	46,033	$	103,785	$	247,128

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



This information is preliminary and based on company data available at the time of the presentation.	37



Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry ^{(1, 2, 3)}
(Dollars in millions)
	Commercial Utilized						Total Commercial Committed
	December 31 2013		September 30 2013		December 31 2012		December 31 2013			September 30 2013			December 31 2012
Diversified financials	$	78,423	$	80,219	$	66,102	$	121,075		$	122,314		$	99,574
Real estate ⁽⁴⁾	54,336		51,529		47,479		76,418			72,271			65,639
Retailing	32,859		32,593		28,065		54,616			54,516			47,719
Capital goods	28,016		27,053		25,071		52,849			51,637			49,196
Healthcare equipment and services	30,828		31,560		29,396		49,063			49,221			45,488
Government and public education	40,253		39,672		41,441		48,322			48,031			50,277
Banking	39,649		43,350		39,829		45,095			49,920			44,822
Materials	22,384		22,607		21,809		42,699			43,638			40,493
Energy	19,739		21,212		17,661		41,156			43,241			38,441
Consumer services	21,080		21,647		23,093		34,217			35,378			36,367
Commercial services and supplies	19,770		19,249		19,020		32,007			31,312			30,257
Food, beverage and tobacco	14,437		14,185		14,738		30,541			31,390			37,344
Utilities	9,253		9,799		8,403		25,243			25,068			23,425
Media	13,070		12,897		13,091		22,655			22,194			21,705
Transportation	15,280		15,951		13,791		22,595			23,159			20,255
Individuals and trusts	14,864		14,699		13,916		18,681			18,209			17,801
Software and services	6,814		7,543		5,549		14,172			14,312			12,125
Pharmaceuticals and biotechnology	6,455		7,303		3,846		13,986			14,818			11,401
Technology hardware and equipment	6,166		5,462		5,111		12,733			11,516			11,101
Insurance, including monolines	5,926		5,875		8,491		12,203			12,165			14,117
Telecommunication services	4,541		4,543		4,008		11,423			14,244			10,276
Consumer durables and apparel	5,427		5,103		4,246		9,757			9,479			8,438
Automobiles and components	3,165		3,258		3,312		8,424			8,390			7,675
Food and staples retailing	3,950		3,884		3,528		7,909			7,928			6,838
Religious and social organizations	5,452		5,492		6,850		7,677			7,677			9,107
Other	5,357		5,331		3,881		8,309			8,166			7,124
Total commercial credit exposure by industry	$	507,494	$	512,016	$	471,727	$	823,825		$	830,194		$	767,005
Net credit default protection purchased on total commitments ⁽⁵⁾							$	(8,085	)	$	(11,204	)	$	(14,657	)

⁽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 the amount of cash collateral applied of $47.3 billion, $47.3 billion and $58.1 billion at December 31, 2013, September 30, 2013 and December 31, 2012, respectively. Not reflected in utilized and committed exposure is additional derivative collateral held of $17.1 billion, $18.6 billion and $18.7 billion which consists primarily of other marketable securities at December 31, 2013, September 30, 2013 and December 31, 2012, respectively.

⁽²⁾

Total commercial utilized and total commercial committed exposure includes loans and letters of credit measured at fair value and are comprised of loans outstanding of $7.9 billion, $8.0 billion and $8.0 billion and issued letters of credit at notional value of $503 million, $577 million and $672 million at December 31, 2013, September 30, 2013 and December 31, 2012, respectively. In addition, total commercial committed exposure includes unfunded loan commitments at notional value of $12.5 billion, $14.1 billion and $17.6 billion at December 31, 2013, September 30, 2013 and December 31, 2012, respectively.


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


⁽⁴⁾	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.


⁽⁵⁾	Represents net notional credit protection purchased.

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



This information is preliminary and based on company data available at the time of the presentation.	38



Bank of America Corporation and Subsidiaries
Net Credit Default Protection by Maturity Profile ⁽¹⁾
	December 31 2013		September 30 2013
Less than or equal to one year	35	%	29	%
Greater than one year and less than or equal to five years	63		69
Greater than five years	2		2
Total net credit default protection	100	%	100	%


⁽¹⁾	To mitigate the cost of purchasing credit protection, credit exposure can be added by selling credit protection. The distribution of maturities for net credit default protection purchased is shown above.



Net Credit Default Protection by Credit Exposure Debt Rating ⁽¹⁾
(Dollars in millions)
	December 31, 2013					September 30, 2013
Ratings ^{(2, 3)}	Net Notional ⁽⁴⁾			Percent of Total		Net Notional ⁽⁴⁾			Percent of Total
AAA	$	—		—	%	$	(107	)	1.0	%
AA	(7		)	0.1		(231		)	2.1
A	(2,560		)	31.7		(4,464		)	39.8
BBB	(3,880		)	48.0		(4,565		)	40.7
BB	(1,137		)	14.1		(1,125		)	10.0
B	(452		)	5.6		(509		)	4.5
CCC and below	(115		)	1.4		(128		)	1.1
NR ⁽⁵⁾	66			(0.9	)	(75		)	0.8
Total net credit default protection	$	(8,085	)	100.0	%	$	(11,204	)	100.0	%


⁽¹⁾	To mitigate the cost of purchasing credit protection, credit exposure can be added by selling credit protection. The distribution of debt rating for net notional credit default protection purchased is shown as a negative and the net notional credit protection sold is shown as a positive amount.


⁽²⁾	Ratings are refreshed on a quarterly basis.


⁽³⁾	Ratings of BBB- or higher are considered to meet the definition of investment grade.


⁽⁴⁾	Represents net credit default protection (purchased) sold.


⁽⁵⁾	NR is comprised of index positions held and any names that have not been rated.

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



This information is preliminary and based on company data available at the time of the presentation.	39



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 ⁽²⁾		Securities/ Other Investments ⁽³⁾		Country Exposure at December 31 2013		Hedges and Credit Default Protection ⁽⁴⁾			Net Country Exposure at December 31 2013 ⁽⁵⁾		Increase (Decrease) from September 30 2013
United Kingdom	$	25,898	$	12,046	$	5,259	$	4,812	$	48,015	$	(4,429	)	$	43,586	$	(1,337	)
Canada	6,075		6,942		1,568		5,223		19,808		(1,397		)	18,411		225
Brazil	8,591		698		416		4,106		13,811		(179		)	13,632		200
China	10,712		587		642		1,468		13,409		(488		)	12,921		1,798
Germany	6,262		4,973		2,800		3,173		17,208		(4,490		)	12,718		(342		)
India	6,256		643		361		3,204		10,464		(213		)	10,251		(108		)
France	1,914		6,790		976		5,228		14,908		(4,745		)	10,163		(2,214		)
Japan	4,340		477		1,827		2,854		9,498		(1,383		)	8,115		(510		)
Australia	4,374		2,136		565		2,048		9,123		(1,126		)	7,997		(2,545		)
Netherlands	3,599		2,758		555		2,496		9,408		(1,773		)	7,635		1,720
Russian Federation	5,824		960		230		621		7,635		(913		)	6,722		216
South Korea	3,771		811		566		2,236		7,384		(949		)	6,435		(289		)
Switzerland	2,760		3,150		625		629		7,164		(1,618		)	5,546		(181		)
Hong Kong	4,296		374		81		847		5,598		(241		)	5,357		(1,947		)
Italy	3,096		3,573		2,328		763		9,760		(4,558		)	5,202		(923		)
Taiwan	2,614		—		132		1,385		4,131		(59		)	4,072		(59		)
Mexico	3,030		687		129		657		4,503		(504		)	3,999		(371		)
Singapore	2,401		138		157		1,280		3,976		(147		)	3,829		(1,499		)
Spain	3,475		892		115		519		5,001		(1,598		)	3,403		180
Turkey	2,354		75		10		271		2,710		(17		)	2,693		333
Total top 20 non-U.S. countries exposure	$	111,642	$	48,710	$	19,342	$	43,820	$	223,514	$	(30,827	)	$	192,687	$	(7,653	)


⁽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⁾

Net counterparty exposure includes the fair value of derivatives, including the counterparty risk associated with credit default swaps, and secured financing transactions. Derivative exposures are presented net of $35.7 billion in collateral, which is predominantly cash, pledged under legally enforceable master netting agreements. Secured financing transaction exposures are presented net of eligible cash or securities pledged as collateral. The notional amount of reverse repurchase transactions was $88.8 billion. Counterparty exposure is not presented net of hedges or credit default protection.


⁽³⁾	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.


⁽⁴⁾	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.


⁽⁵⁾	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.



This information is preliminary and based on company data available at the time of the presentation.	40



Bank of America Corporation and Subsidiaries
Select European Countries
(Dollars in millions)
	Funded Loans and Loan Equivalents ⁽¹⁾		Unfunded Loan Commitments		Net Counterparty Exposure ⁽²⁾		Securities/ Other Investments ⁽³⁾		Country Exposure at December 31 2013		Hedges and Credit Default Protection ⁽⁴⁾			Net Country Exposure at December 31 2013 ⁽⁵⁾			Increase (Decrease) from September 30 2013
Greece
Sovereign	$	—	$	—	$	—	$	58	$	58	$	—		$	58		$	20
Financial institutions	—		—		—		27		27		(30		)	(3		)	1
Corporates	63		61		2		13		139		(41		)	98			(47		)
Total Greece	$	63	$	61	$	2	$	98	$	224	$	(71	)	$	153		$	(26	)
Ireland
Sovereign	$	19	$	—	$	19	$	—	$	38	$	(43	)	$	(5	)	$	(47	)
Financial institutions	812		10		124		44		990		(10		)	980			463
Corporates	356		338		69		55		818		(49		)	769			(50		)
Total Ireland	$	1,187	$	348	$	212	$	99	$	1,846	$	(102	)	$	1,744		$	366
Italy
Sovereign	$	2	$	—	$	1,611	$	269	$	1,882	$	(2,095	)	$	(213	)	$	(1,310	)
Financial institutions	1,938		348		179		175		2,640		(1,230		)	1,410			88
Corporates	1,156		3,225		538		319		5,238		(1,233		)	4,005			299
Total Italy	$	3,096	$	3,573	$	2,328	$	763	$	9,760	$	(4,558	)	$	5,202		$	(923	)
Portugal
Sovereign	$	—	$	—	$	15	$	35	$	50	$	(27	)	$	23		$	42
Financial institutions	4		—		2		—		6		(108		)	(102		)	(57		)
Corporates	90		103		—		40		233		(292		)	(59		)	(47		)
Total Portugal	$	94	$	103	$	17	$	75	$	289	$	(427	)	$	(138	)	$	(62	)
Spain
Sovereign	$	37	$	—	$	63	$	2	$	102	$	(163	)	$	(61	)	$	(479	)
Financial institutions	1,223		1		14		131		1,369		(421		)	948			261
Corporates	2,215		891		38		386		3,530		(1,014		)	2,516			398
Total Spain	$	3,475	$	892	$	115	$	519	$	5,001	$	(1,598	)	$	3,403		$	180
Total
Sovereign	$	58	$	—	$	1,708	$	364	$	2,130	$	(2,328	)	$	(198	)	$	(1,774	)
Financial institutions	3,977		359		319		377		5,032		(1,799		)	3,233			756
Corporates	3,880		4,618		647		813		9,958		(2,629		)	7,329			553
Total select European exposure	$	7,915	$	4,977	$	2,674	$	1,554	$	17,120	$	(6,756	)	$	10,364		$	(465	)


⁽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⁾

Net counterparty exposure includes the fair value of derivatives, including the counterparty risk associated with credit default swaps, and secured financing transactions. Derivative exposures are presented net of $1.1 billion in collateral, which is predominantly cash, pledged under legally enforceable master netting agreements. Secured financing transaction exposures are presented net of eligible cash or securities pledged as collateral. The notional amount of reverse repurchase transactions was $4.0 billion. Counterparty exposure is not presented net of hedges or credit default protection.


⁽³⁾	Long securities exposures are netted on a single-name basis to, but not below, zero by short exposures of $4.9 billion and net credit default swaps purchased of $1.9 billion, consisting of $1.5 billion of net single-name credit default swaps purchased and $406 million of net indexed and tranched credit default swaps sold.

⁽⁴⁾

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, including $4.5 billion, consisting of $3.0 billion in net single-name credit default swaps purchased and $1.5 billion in net indexed and tranched credit default swaps purchased, to hedge loans and securities, $2.3 billion in additional credit default protection purchased to hedge derivative assets and $127 million in other short exposures. Amounts are calculated based on the credit default swaps notional amount assuming a zero recovery rate less any fair value receivable or payable.


⁽⁵⁾	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.



This information is preliminary and based on company data available at the time of the presentation.	41



Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	December 31 2013			September 30 2013			June 30 2013			March 31 2013			December 31 2012
Residential mortgage ⁽¹⁾	$	11,712		$	13,328		$	14,316		$	15,001		$	15,055
Home equity ⁽¹⁾	4,075			4,176			4,151			4,196			4,282
Direct/Indirect consumer	35			59			72			84			92
Other consumer	18			18			1			1			2
Total consumer	15,840			17,581			18,540			19,282			19,431
U.S. commercial	819			1,059			1,279			1,354			1,484
Commercial real estate	322			488			627			1,139			1,513
Commercial lease financing	16			49			10			19			44
Non-U.S. commercial	64			86			80			112			68
	1,221			1,682			1,996			2,624			3,109
U.S. small business commercial	88			103			107			110			115
Total commercial	1,309			1,785			2,103			2,734			3,224
Total nonperforming loans and leases	17,149			19,366			20,643			22,016			22,655
Foreclosed properties ⁽²⁾	623			662			637			826			900
Total nonperforming loans, leases and foreclosed properties ^{(3, 4, 5)}	$	17,772		$	20,028		$	21,280		$	22,842		$	23,555

Fully-insured home loans past due 30 days or more and still accruing	$	20,681		$	21,797		$	24,072		$	24,733		$	25,698
Consumer credit card past due 30 days or more and still accruing	2,321			2,376			2,487			2,847			3,151
Other loans past due 30 days or more and still accruing	5,416			5,512			5,587			6,147			6,692
Total loans past due 30 days or more and still accruing ^{(4, 6, 7)}	$	28,418		$	29,685		$	32,146		$	33,727		$	35,541

Fully-insured home loans past due 90 days or more and still accruing	$	16,961		$	17,960		$	20,604		$	21,617		$	22,157
Consumer credit card past due 90 days or more and still accruing	1,184			1,191			1,325			1,541			1,649
Other loans past due 90 days or more and still accruing	614			723			662			655			776
Total loans past due 90 days or more and still accruing ^{(4, 6, 7)}	$	18,759		$	19,874		$	22,591		$	23,813		$	24,582

Nonperforming loans, leases and foreclosed properties/Total assets ⁽⁸⁾	0.85		%	0.95		%	1.01		%	1.05		%	1.07		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties ⁽⁸⁾	1.93			2.17			2.33			2.53			2.62
Nonperforming loans and leases/Total loans and leases ⁽⁸⁾	1.87			2.10			2.26			2.44			2.52

Commercial utilized reservable criticized exposure ⁽⁹⁾	$	12,861		$	14,086		$	14,928		$	15,006		$	15,936
Commercial utilized reservable criticized exposure/Commercial utilized reservable exposure ⁽⁹⁾	3.02		%	3.31		%	3.62		%	3.75		%	4.10		%
Total commercial utilized criticized exposure/Commercial utilized exposure ⁽⁹⁾	3.08			3.48			3.64			4.08			4.40

⁽¹⁾

During the fourth quarter of 2012, as a result of regulatory guidance, we changed the treatment of loans discharged in Chapter 7 bankruptcy to write down these loans to collateral value and classify as nonperforming. As a result of this change, we reclassified residential mortgage loans of $49 million, home equity loans of $5 million and direct/indirect consumer loans of $58 million to nonperforming as of December 31, 2012.


⁽²⁾	Foreclosed property balances do not include loans that are insured by the Federal Housing Administration and have entered foreclosure of $1.4 billion, $1.6 billion, $1.6 billion, $2.3 billion and $2.5 billion at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively.


⁽³⁾	Balances do not include past due consumer credit card, consumer loans secured by real estate where repayments are insured by the Federal Housing Administration 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.


⁽⁴⁾	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.



⁽⁵⁾ Balances do not include the following:	December 31 2013		September 30 2013		June 30 2013		March 31 2013		December 31 2012
Nonperforming loans held-for-sale	$	672	$	972	$	891	$	1,050	$	1,059
Nonperforming loans accounted for under the fair value option	448		467		398		412		401
Nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010	260		356		485		512		521

⁽⁶⁾

Balances do not include loans held-for-sale past due 30 days or more and still accruing of $106 million, $301 million, $374 million, $315 million and $518 million at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively and loans held-for-sale past due 90 days or more and still accruing of $8 million, $0, $17 million, $18 million and $130 million at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively. At December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, there were $158 million, $153 million, $81 million, $83 million and $87 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⁾	Total assets and total loans and leases do not include loans accounted for under the fair value option of $10.0 billion, $10.2 billion, $9.5 billion, $8.8 billion and $9.0 billion at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively.


⁽⁹⁾	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.



This information is preliminary and based on company data available at the time of the presentation.	42



Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity ⁽¹⁾
(Dollars in millions)
	Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	17,581		$	18,540		$	19,282		$	19,431		$	19,753
Additions to nonperforming loans and leases:
New nonperforming loans and leases	2,199			2,503			2,289			2,661			3,211
Implementation of change in treatment of loans discharged in bankruptcies ⁽²⁾	n/a			n/a			n/a			n/a			112
Reductions to nonperforming loans and leases:
Paydowns and payoffs	(863		)	(544		)	(695		)	(680		)	(968		)
Sales	(729		)	(624		)	(175		)	—			(47		)
Returns to performing status ⁽³⁾	(1,112		)	(1,079		)	(1,139		)	(943		)	(1,076		)
Charge-offs ⁽⁴⁾	(752		)	(758		)	(932		)	(1,072		)	(1,439		)
Transfers to foreclosed properties	(147		)	(131		)	(90		)	(115		)	(115		)
Transfers to loans held-for-sale	(337		)	(326		)	—			—			—
Total net reductions to nonperforming loans and leases	(1,741		)	(959		)	(742		)	(149		)	(322		)
Total nonperforming consumer loans and leases, end of period	15,840			17,581			18,540			19,282			19,431
Foreclosed properties	533			546			508			620			650
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	16,373		$	18,127		$	19,048		$	19,902		$	20,081

Nonperforming Commercial Loans and Leases ⁽⁵⁾:
Balance, beginning of period	$	1,785		$	2,103		$	2,734		$	3,224		$	3,948
Additions to nonperforming loans and leases:
New nonperforming loans and leases	143			350			269			350			473
Advances	12			9			3			6			5
Reductions to nonperforming loans and leases:
Paydowns	(322		)	(380		)	(312		)	(328		)	(445		)
Sales	(92		)	(88		)	(171		)	(147		)	(198		)
Return to performing status ⁽⁶⁾	(87		)	(91		)	(243		)	(167		)	(249		)
Charge-offs	(98		)	(104		)	(170		)	(177		)	(273		)
Transfers to foreclosed properties	(12		)	(14		)	(7		)	(21		)	(37		)
Transfers to loans held-for-sale	(20		)	—			—			(6		)	—
Total net reductions to nonperforming loans and leases	(476		)	(318		)	(631		)	(490		)	(724		)
Total nonperforming commercial loans and leases, end of period	1,309			1,785			2,103			2,734			3,224
Foreclosed properties	90			116			129			206			250
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	1,399		$	1,901		$	2,232		$	2,940		$	3,474


⁽¹⁾	For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 42.


⁽²⁾	During the fourth quarter of 2012, as a result of regulatory guidance, we changed the treatment of loans discharged in Chapter 7 bankruptcy to write down these loans to collateral value and classify as nonperforming.

⁽³⁾

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.


⁽⁴⁾	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.


⁽⁵⁾	Includes U.S. small business commercial activity. Small business card loans are excluded as they are not classified as nonperforming.

⁽⁶⁾

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.

n/a = not applicable

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



This information is preliminary and based on company data available at the time of the presentation.	43



Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios ^{(1, 2, 3)}
(Dollars in millions)
	Fourth Quarter 2013					Third Quarter 2013					Second Quarter 2013					First Quarter 2013					Fourth Quarter 2012
Net Charge-offs	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount		Percent
Residential mortgage ⁽⁴⁾	$	209		0.33	%	$	221		0.35	%	$	271		0.43	%	$	383		0.60	%	$	729	1.14	%
Home equity ⁽⁴⁾	331			1.38		302			1.22		486			1.92		684			2.62		768		2.77
U.S. credit card	724			3.19		788			3.47		917			4.10		947			4.19		978		4.19
Non-U.S. credit card	94			3.34		89			3.32		104			3.93		112			4.14		119		3.62
Direct/Indirect consumer	73			0.35		62			0.30		86			0.42		124			0.61		195		0.94
Other consumer	66			13.58		65			13.81		51			11.57		52			12.76		64		15.78
Total consumer ⁽⁴⁾	1,497			1.11		1,527			1.12		1,915			1.42		2,302			1.70		2,853		2.04
U.S. commercial ⁽⁵⁾	(28		)	(0.05	)	68			0.13		43			0.09		45			0.09		27		0.05
Commercial real estate	1			—		11			0.11		44			0.43		93			0.96		84		0.88
Commercial lease financing	(2		)	(0.03	)	(8		)	(0.13	)	(5		)	(0.08	)	(10		)	(0.18	)	1		0.02
Non-U.S. commercial	46			0.20		(2		)	(0.01	)	16			0.08		(15		)	(0.08	)	17		0.12
	17			0.02		69			0.08		98			0.11		113			0.14		129		0.16
U.S. small business commercial	68			2.07		91			2.86		98			3.15		102			3.33		122		3.86
Total commercial	85			0.09		160			0.17		196			0.22		215			0.25		251		0.30
Total net charge-offs ⁽⁴⁾	$	1,582		0.68		$	1,687		0.73		$	2,111		0.94		$	2,517		1.14		$	3,104	1.40

By Business Segment
Consumer & Business Banking	$	922		2.24	%	$	1,027		2.46	%	$	1,158		2.84	%	$	1,241		3.03	%	$	1,383	3.29	%
Consumer Real Estate Services	323			1.45		281			1.28		465			2.09		660			2.91		732		3.05
Global Banking	7			0.01		35			0.05		78			0.12		68			0.12		132		0.23
Global Markets	1			0.01		—			—		(1		)	—		2			0.01		1		0.01
Global Wealth & Investment Management	35			0.12		26			0.09		51			0.19		61			0.23		91		0.35
All Other	294			0.52		318			0.54		360			0.60		485			0.80		765		1.23
Total net charge-offs	$	1,582		0.68		$	1,687		0.73		$	2,111		0.94		$	2,517		1.14		$	3,104	1.40

⁽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. Excluding the purchased credit-impaired loan portfolio, total annualized net charge-offs as a percentage of total average loans and leases outstanding were 0.70, 0.75, 0.97, 1.18 and 1.44 for the three months ended December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively.

⁽²⁾

Excludes write-offs of purchased credit-impaired loans of $741 million, $443 million, $313 million, $839 million and $1.1 billion for the three months ended December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively. Including the write-offs of purchased credit-impaired loans, total annualized net charge-offs and purchased credit-impaired write-offs as a percentage of total average loans and leases outstanding were 1.00, 0.92, 1.07, 1.52 and 1.90 for the three months ended December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively.


⁽³⁾	During 2012, the Corporation changed the treatment of loans discharged in Chapter 7 bankruptcy to write down these loans to collateral value irrespective of the borrower's payment status. As a result of the completion of implementation, the Corporation charged off $73 million of current or less than 60 days delinquent loans for the three months ended December 31, 2012.

⁽⁴⁾

Includes the impact of a clarification of regulatory guidance on accounting for troubled debt restructurings of $56 million for residential mortgage loans and $88 million for home equity loans for the three months ended December 31, 2013. Excluding this impact, annualized net charge-offs as a percentage of total average loans and leases outstanding were 0.24 for residential mortgage loans, 1.01 for home equity loans, 1.01 for total consumer loans and 0.62 for total net charge-offs for the three months ended December 31, 2013.


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

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



This information is preliminary and based on company data available at the time of the presentation.	44



Bank of America Corporation and Subsidiaries
Annual Net Charge-offs and Net Charge-off Ratios ^{(1, 2, 3, 4)}
(Dollars in millions)
	Year Ended December 31
	2013					2012
Net Charge-offs	Amount			Percent		Amount			Percent
Residential mortgage ⁽⁵⁾	$	1,084		0.42	%	$	3,111		1.18	%
Home equity ⁽⁵⁾	1,803			1.80		4,242			3.62
U.S. credit card	3,376			3.74		4,632			4.88
Non-U.S. credit card	399			3.68		581			4.29
Direct/Indirect consumer	345			0.42		763			0.90
Other consumer	234			12.96		232			9.85
Total consumer ⁽⁵⁾	7,241			1.34		13,561			2.36
U.S. commercial ⁽⁶⁾	128			0.06		242			0.13
Commercial real estate	149			0.35		384			1.01
Commercial lease financing	(25		)	(0.10	)	(6		)	(0.03	)
Non-U.S. commercial	45			0.05		28			0.05
	297			0.08		648			0.21
U.S. small business commercial	359			2.84		699			5.46
Total commercial	656			0.18		1,347			0.43
Total net charge-offs ⁽⁵⁾	$	7,897		0.87		$	14,908		1.67

By Business Segment
Consumer & Business Banking	$	4,348		2.64	%	$	6,452		3.73	%
Consumer Real Estate Services	1,729			1.94		4,059			3.97
Global Banking	188			0.07		436			0.20
Global Markets	2			—		14			0.04
Global Wealth & Investment Management	173			0.16		370			0.37
All Other	1,457			0.62		3,577			1.38
Total net charge-offs	$	7,897		0.87		$	14,908		1.67

⁽¹⁾

Net charge-off ratios are calculated as 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. Excluding the purchased credit-impaired loan portfolio, total net charge-offs as a percentage of total average loans and leases outstanding were 0.90 and 1.73 for the years ended December 31, 2013 and 2012.


⁽²⁾	Excludes write-offs of purchased credit-impaired loans of $2.3 billion and $2.8 billion for the years ended December 31, 2013 and 2012. Including the write-offs of purchased credit-impaired loans, total net charge-offs and purchased credit-impaired write-offs as a percentage of total average loans and leases outstanding were 1.13 and 1.99 for the years ended December 31, 2013 and 2012.


⁽³⁾	During 2012, the Corporation changed the treatment of loans discharged in Chapter 7 bankruptcy to write down these loans to collateral value irrespective of the borrower's payment status. As a result of the completion of implementation, the Corporation charged off $551 million of current or less than 60 days delinquent loans for the year ended December 31, 2012.


⁽⁴⁾	The 2012 amounts include $435 million of charge-offs incurred as a result of National Mortgage Settlement activities.

⁽⁵⁾

Includes the impact of a clarification of regulatory guidance on accounting for troubled debt restructurings of $56 million for residential mortgage loans and $88 million for home equity loans for the year ended December 31, 2013. Excluding this impact, net charge-offs as a percentage of total average loans and leases outstanding were 0.40 for residential mortgage loans, 1.71 for home equity loans, 1.31 for total consumer loans and 0.85 for total net charge-offs for the year ended December 31, 2013.


⁽⁶⁾	Excludes U.S. small business commercial loans.

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



This information is preliminary and based on company data available at the time of the presentation.	45



Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	December 31, 2013						September 30, 2013						December 31, 2012
Allowance for loan and lease losses	Amount		Percent of Total		Percent of Loans and Leases Outstanding ⁽¹⁾		Amount		Percent of Total		Percent of Loans and Leases Outstanding ⁽¹⁾		Amount		Percent of Total		Percent of Loans and Leases Outstanding ⁽¹⁾
Residential mortgage	$	4,084	23.43	%	1.65	%	$	4,895	25.19	%	1.93	%	$	7,088	29.31	%	2.80	%
Home equity	4,434		25.44		4.73		5,618		28.91		5.81		7,845		32.45		7.26
U.S. credit card	3,930		22.55		4.26		4,296		22.11		4.76		4,718		19.51		4.97
Non-U.S.credit card	459		2.63		3.98		488		2.51		4.40		600		2.48		5.13
Direct/Indirect consumer	417		2.39		0.51		546		2.81		0.65		718		2.97		0.86
Other consumer	99		0.58		5.02		100		0.52		5.21		104		0.43		6.40
Total consumer	13,423		77.02		2.53		15,943		82.05		2.97		21,073		87.15		3.81
U.S. commercial ⁽²⁾	2,394		13.74		1.06		2,012		10.35		0.90		1,885		7.80		0.90
Commercial real estate	917		5.26		1.91		895		4.61		1.99		846		3.50		2.19
Commercial lease financing	118		0.68		0.47		98		0.50		0.40		78		0.32		0.33
Non-U.S.commercial	576		3.30		0.64		484		2.49		0.52		297		1.23		0.40
Total commercial ⁽³⁾	4,005		22.98		1.03		3,489		17.95		0.90		3,106		12.85		0.90
Allowance for loan and lease losses	17,428		100.00	%	1.90		19,432		100.00	%	2.10		24,179		100.00	%	2.69
Reserve for unfunded lending commitments	484						480						513
Allowance for credit losses	$	17,912					$	19,912					$	24,692

Asset Quality Indicators

Allowance for loan and lease losses/Total loans and leases ⁽⁴⁾			1.90	%					2.10	%					2.69	%
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total loans and leases (excluding purchased credit-impaired loans) ^{(4, 5)}			1.67						1.81						2.14
Allowance for loan and lease losses/Total nonperforming loans and leases⁽⁶⁾			102						100						107
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total nonperforming loans and leases ⁽⁵⁾			87						84						82
Ratio of the allowance for loan and lease losses/Annualized net charge-offs ⁽⁷⁾			2.78						2.90						1.96
Ratio of the allowance for loan and lease losses (excluding purchased credit-impaired loans)/Annualized net charge-offs ⁽⁵⁾			2.38						2.42						1.51
Ratio of the allowance for loan and lease losses/Annualized net charge-offs and purchased credit-impaired write-offs			1.89						2.30						1.44

⁽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 included residential mortgage loans of $2.0 billion, $2.2 billion and $1.0 billion and home equity loans of $147 million, $0 and $0 at December 31, 2013, September 30, 2013 and December 31, 2012, respectively. Commercial loans accounted for under the fair value option included U.S. commercial loans of $1.5 billion, $1.8 billion and $2.3 billion and non-U.S. commercial loans of $6.4 billion, $6.2 billion and $5.7 billion at December 31, 2013, September 30, 2013 and December 31, 2012, respectively.


⁽²⁾	Includes allowance for loan and lease losses for U.S. small business commercial loans of $462 million, $510 million and $642 million at December 31, 2013, September 30, 2013 and December 31, 2012, respectively.


⁽³⁾	Includes allowance for loan and lease losses for impaired commercial loans of $277 million, $286 million and $475 million at December 31, 2013, September 30, 2013 and December 31, 2012, respectively.


⁽⁴⁾	Total loans and leases do not include loans accounted for under the fair value option of $10.0 billion, $10.2 billion and $9.0 billion at December 31, 2013, September 30, 2013 and December 31, 2012, respectively.


⁽⁵⁾	Excludes valuation allowance on purchased credit-impaired loans of $2.5 billion, $3.2 billion and $5.5 billion at December 31, 2013, September 30, 2013 and December 31, 2012, respectively.

⁽⁶⁾

Allowance for loan and lease losses includes $7.7 billion, $9.0 billion and $12.0 billion allocated to products (primarily the Consumer Lending portfolios within Consumer & Business Banking and purchased credit-impaired loans) that are excluded from nonperforming loans and leases at December 31, 2013, September 30, 2013 and December 31, 2012, respectively. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 57 percent, 54 percent and 54 percent at December 31, 2013, September 30, 2013 and December 31, 2012, respectively.


⁽⁷⁾	Net charge-offs exclude $741 million, $443 million and $1.1 billion of write-offs in the purchased credit-impaired loan portfolio at December 31, 2013, September 30, 2013 and December 31, 2012, respectively. These write-offs decreased the purchased credit-impaired valuation allowance included as part of the allowance for loan and lease losses.

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



This information is preliminary and based on company data available at the time of the presentation.	46



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. The Corporation believes managing the business with net interest income on a fully taxable-equivalent basis provides a more accurate picture of the interest margin for comparative purposes. Total revenue, net of interest expense, includes net interest income on a fully taxable-equivalent basis and noninterest income. The Corporation views 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 35 percent. This measure ensures comparability of net interest income arising from taxable and tax-exempt sources. 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. Return on average tangible shareholders' equity measures the Corporation's earnings contribution as a percentage of adjusted average total 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. 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.

Effective January 1, 2013, on a prospective basis, the Corporation adjusted the amount of capital being allocated to its business segments. The adjustment reflects a refinement to the prior-year methodology (economic capital) which focused solely on internal risk-based economic capital models. The refined methodology (allocated capital) now also considers the effect of regulatory capital requirements in addition to internal risk-based economic capital models. The Corporation's internal risk-based capital models use a risk-adjusted methodology incorporating each segment's credit, market, interest rate, business and operational risk components. The capital allocated to the Corporation's business segments is currently referred to as allocated capital and, prior to January 1, 2013, was referred to as economic capital, both of which represent non-GAAP financial measures. The Corporation plans to further refine, in the first quarter of 2014, the capital being allocated to the Corporation’s business segments with the result being additional capital allocated to the business segments. Allocated capital is subject to change over time.

See the tables below and on pages 48-50 for reconciliations of these non-GAAP financial measures to financial measures defined by GAAP for the years ended December 31, 2013 and 2012, and the three months ended December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate supplemental financial data differently.



	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012

Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis

Net interest income	$	42,265		$	40,656		$	10,786		$	10,266		$	10,549		$	10,664		$	10,324
Fully taxable-equivalent adjustment	859			901			213			213			222			211			231
Net interest income on a fully taxable-equivalent basis	$	43,124		$	41,557		$	10,999		$	10,479		$	10,771		$	10,875		$	10,555

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	$	88,942		$	83,334		$	21,488		$	21,530		$	22,727		$	23,197		$	18,660
Fully taxable-equivalent adjustment	859			901			213			213			222			211			231
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	89,801		$	84,235		$	21,701		$	21,743		$	22,949		$	23,408		$	18,891

Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent basis

Income tax expense (benefit)	$	4,741		$	(1,116	)	$	406		$	2,348		$	1,486		$	501		$	(2,636	)
Fully taxable-equivalent adjustment	859			901			213			213			222			211			231
Income tax expense (benefit) on a fully taxable-equivalent basis	$	5,600		$	(215	)	$	619		$	2,561		$	1,708		$	712		$	(2,405	)

Reconciliation of average common shareholders' equity to average tangible common shareholders' equity

Common shareholders' equity	$	218,468		$	216,996		$	220,088		$	216,766		$	218,790		$	218,225		$	219,744
Goodwill	(69,910		)	(69,974		)	(69,864		)	(69,903		)	(69,930		)	(69,945		)	(69,976		)
Intangible assets (excluding mortgage servicing rights)	(6,132		)	(7,366		)	(5,725		)	(5,993		)	(6,270		)	(6,549		)	(6,874		)
Related deferred tax liabilities	2,328			2,593			2,231			2,296			2,360			2,425			2,490
Tangible common shareholders' equity	$	144,754		$	142,249		$	146,730		$	143,166		$	144,950		$	144,156		$	145,384

Reconciliation of average shareholders' equity to average tangible shareholders' equity

Shareholders' equity	$	233,947		$	235,677		$	233,415		$	230,392		$	235,063		$	236,995		$	238,512
Goodwill	(69,910		)	(69,974		)	(69,864		)	(69,903		)	(69,930		)	(69,945		)	(69,976		)
Intangible assets (excluding mortgage servicing rights)	(6,132		)	(7,366		)	(5,725		)	(5,993		)	(6,270		)	(6,549		)	(6,874		)
Related deferred tax liabilities	2,328			2,593			2,231			2,296			2,360			2,425			2,490
Tangible shareholders' equity	$	160,233		$	160,930		$	160,057		$	156,792		$	161,223		$	162,926		$	164,152

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



This information is preliminary and based on company data available at the time of the presentation.	47



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012

Reconciliation of period-end common shareholders' equity to period-end tangible common shareholders' equity

Common shareholders' equity	$	219,333		$	218,188		$	219,333		$	218,967		$	216,791		$	218,513		$	218,188
Goodwill	(69,844		)	(69,976		)	(69,844		)	(69,891		)	(69,930		)	(69,930		)	(69,976		)
Intangible assets (excluding mortgage servicing rights)	(5,574		)	(6,684		)	(5,574		)	(5,843		)	(6,104		)	(6,379		)	(6,684		)
Related deferred tax liabilities	2,166			2,428			2,166			2,231			2,297			2,363			2,428
Tangible common shareholders' equity	$	146,081		$	143,956		$	146,081		$	145,464		$	143,054		$	144,567		$	143,956

Reconciliation of period-end shareholders' equity to period-end tangible shareholders' equity

Shareholders' equity	$	232,685		$	236,956		$	232,685		$	232,282		$	231,032		$	237,293		$	236,956
Goodwill	(69,844		)	(69,976		)	(69,844		)	(69,891		)	(69,930		)	(69,930		)	(69,976		)
Intangible assets (excluding mortgage servicing rights)	(5,574		)	(6,684		)	(5,574		)	(5,843		)	(6,104		)	(6,379		)	(6,684		)
Related deferred tax liabilities	2,166			2,428			2,166			2,231			2,297			2,363			2,428
Tangible shareholders' equity	$	159,433		$	162,724		$	159,433		$	158,779		$	157,295		$	163,347		$	162,724

Reconciliation of period-end assets to period-end tangible assets

Assets	$	2,102,273		$	2,209,974		$	2,102,273		$	2,126,653		$	2,123,320		$	2,174,819		$	2,209,974
Goodwill	(69,844		)	(69,976		)	(69,844		)	(69,891		)	(69,930		)	(69,930		)	(69,976		)
Intangible assets (excluding mortgage servicing rights)	(5,574		)	(6,684		)	(5,574		)	(5,843		)	(6,104		)	(6,379		)	(6,684		)
Related deferred tax liabilities	2,166			2,428			2,166			2,231			2,297			2,363			2,428
Tangible assets	$	2,029,021		$	2,135,742		$	2,029,021		$	2,053,150		$	2,049,583		$	2,100,873		$	2,135,742

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



This information is preliminary and based on company data available at the time of the presentation.	48



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Second Quarter 2013			First Quarter 2013			Fourth Quarter 2012
Reconciliation of return on average allocated capital/economic capital ⁽¹⁾

Consumer & Business Banking

Reported net income	$	6,588		$	5,546		$	1,967		$	1,779		$	1,395		$	1,447		$	1,446
Adjustment related to intangibles ⁽²⁾	7			13			1			2			2			2			3
Adjusted net income	$	6,595		$	5,559		$	1,968		$	1,781		$	1,397		$	1,449		$	1,449

Average allocated equity ⁽³⁾	$	62,045		$	56,214		$	62,007		$	62,032		$	62,058		$	62,083		$	56,673
Adjustment related to goodwill and a percentage of intangibles	(32,045		)	(32,163		)	(32,007		)	(32,032		)	(32,058		)	(32,083		)	(32,112		)
Average allocated capital/economic capital	$	30,000		$	24,051		$	30,000		$	30,000		$	30,000		$	30,000		$	24,561

Global Banking

Reported net income	$	4,974		$	5,344		$	1,267		$	1,134		$	1,292		$	1,281		$	1,392
Adjustment related to intangibles ⁽²⁾	2			4			—			1			—			1			1
Adjusted net income	$	4,976		$	5,348		$	1,267		$	1,135		$	1,292		$	1,282		$	1,393

Average allocated equity ⁽³⁾	$	45,412		$	41,742		$	45,410		$	45,413		$	45,416		$	45,407		$	41,546
Adjustment related to goodwill and a percentage of intangibles	(22,412		)	(22,430		)	(22,410		)	(22,413		)	(22,416		)	(22,407		)	(22,423		)
Average allocated capital/economic capital	$	23,000		$	19,312		$	23,000		$	23,000		$	23,000		$	23,000		$	19,123

Global Markets

Reported net income (loss)	$	1,563		$	1,229		$	215		$	(778	)	$	958		$	1,168		$	181
Adjustment related to intangibles ⁽²⁾	8			9			2			2			2			2			2
Adjusted net income (loss)	$	1,571		$	1,238		$	217		$	(776	)	$	960		$	1,170		$	183

Average allocated equity ⁽³⁾	$	35,373		$	19,193		$	35,381		$	35,369		$	35,372		$	35,372		$	19,562
Adjustment related to goodwill and a percentage of intangibles	(5,373		)	(5,369		)	(5,381		)	(5,369		)	(5,372		)	(5,372		)	(5,378		)
Average allocated capital/economic capital	$	30,000		$	13,824		$	30,000		$	30,000		$	30,000		$	30,000		$	14,184

Global Wealth & Investment Management

Reported net income	$	2,974		$	2,245		$	777		$	719		$	758		$	720		$	576
Adjustment related to intangibles ⁽²⁾	16			22			4			4			4			4			5
Adjusted net income	$	2,990		$	2,267		$	781		$	723		$	762		$	724		$	581

Average allocated equity ⁽³⁾	$	20,292		$	17,729		$	20,265		$	20,283		$	20,300		$	20,323		$	18,489
Adjustment related to goodwill and a percentage of intangibles	(10,292		)	(10,370		)	(10,265		)	(10,283		)	(10,300		)	(10,323		)	(10,340		)
Average allocated capital/economic capital	$	10,000		$	7,359		$	10,000		$	10,000		$	10,000		$	10,000		$	8,149

For footnotes see page 50.

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



This information is preliminary and based on company data available at the time of the presentation.	49



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2013			Third Quarter 2013			Fourth Quarter 2012
	2013			2012			Fourth Quarter 2013			Third Quarter 2013			Fourth Quarter 2012
Consumer & Business Banking

Deposits

Reported net income	$	2,127		$	1,261		$	674		$	572		$	333
Adjustment related to intangibles ⁽²⁾	1			2			—			—			—
Adjusted net income	$	2,128		$	1,263		$	674		$	572		$	333

Average allocated equity ⁽³⁾	$	35,400		$	33,006		$	35,394		$	35,398		$	33,479
Adjustment related to goodwill and a percentage of intangibles	(20,000		)	(20,021		)	(19,994		)	(19,998		)	(20,012		)
Average allocated capital/economic capital	$	15,400		$	12,985		$	15,400		$	15,400		$	13,467

Consumer Lending

Reported net income	$	4,461		$	4,285		$	1,293		$	1,207		$	1,113
Adjustment related to intangibles ⁽²⁾	7			12			1			1			3
Adjusted net income	$	4,468		$	4,297		$	1,294		$	1,208		$	1,116

Average allocated equity ⁽³⁾	$	26,644		$	23,208		$	26,613		$	26,634		$	23,194
Adjustment related to goodwill and a percentage of intangibles	(12,044		)	(12,142		)	(12,013		)	(12,034		)	(12,100		)
Average allocated capital/economic capital	$	14,600		$	11,066		$	14,600		$	14,600		$	11,094


⁽¹⁾	There are no adjustments to reported net income (loss) or average allocated equity for Consumer Real Estate Services.


⁽²⁾	Represents cost of funds, earnings credits and certain expenses related to intangibles.


⁽³⁾	Average allocated equity is comprised of average allocated capital (or economic capital prior to 2013) plus capital for the portion of goodwill and intangibles specifically assigned to the business segment.

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



This information is preliminary and based on company data available at the time of the presentation.	50