|
Consolidated Statement of Income
Bank of America Corporation and Subsidiaries
|
| Year Ended December 31
|
| (Dollars in millions, except per share information) |
|
2005
|
|
2004
(Restated)
|
|
2003
(Restated)
|
| Interest income |
|
| Interest and fees on loans and leases |
|
$ |
34,843 |
|
$ |
28,051 |
|
$ |
21,381 |
| Interest and dividends on securities |
|
|
10,937 |
| 7,256 |
| 3,071 |
| Federal funds sold and securities purchased under agreements to resell |
|
|
5,012 |
| 1,940 |
| 1,266 |
| Trading account assets |
|
|
5,743 |
| 4,016 |
| 3,947 |
| Other interest income |
|
|
2,091 |
| 1,690 |
| 1,507 |
|
|
|
|
|
|
|
|
|
| Total interest income |
|
|
58,626 |
| 42,953 |
| 31,172 |
|
|
|
|
|
|
|
|
|
| Interest expense |
|
| Deposits |
|
|
9,492 |
| 5,921 |
| 4,562 |
| Short-term borrowings |
|
|
11,615 |
| 4,072 |
| 1,871 |
| Trading account liabilities |
|
|
2,364 |
| 1,317 |
| 1,286 |
| Long-term debt |
|
|
4,418 |
| 3,683 |
| 2,948 |
|
|
|
|
|
|
|
|
|
| Total interest expense |
|
|
27,889 |
| 14,993 |
| 10,667 |
|
|
|
|
|
|
|
|
|
| Net interest income |
|
|
30,737 |
| 27,960 |
| 20,505 |
|
| Noninterest income |
|
| Service charges |
|
|
7,704 |
| 6,989 |
| 5,618 |
| Investment and brokerage services |
|
|
4,184 |
| 3,614 |
| 2,371 |
| Mortgage banking income |
|
|
805 |
| 414 |
| 1,922 |
| Investment banking income |
|
|
1,856 |
| 1,886 |
| 1,736 |
| Equity investment gains |
|
|
2,040 |
| 863 |
| 215 |
| Card income |
|
|
5,753 |
| 4,592 |
| 3,052 |
| Trading account profits |
|
|
1,812 |
| 869 |
| 408 |
| Other income |
|
|
1,200 |
| 1,778 |
| 2,007 |
|
|
|
|
|
|
|
|
|
| Total noninterest income |
|
|
25,354 |
| 21,005 |
| 17,329 |
|
|
|
|
|
|
|
|
|
| Total revenue |
|
|
56,091 |
| 48,965 |
| 37,834 |
|
| Provision for credit losses |
|
|
4,014 |
| 2,769 |
| 2,839 |
|
| Gains on sales of debt securities |
|
|
1,084 |
| 1,724 |
| 941 |
|
| Noninterest expense |
|
| Personnel |
|
|
15,054 |
| 13,435 |
| 10,446 |
| Occupancy |
|
|
2,588 |
| 2,379 |
| 2,006 |
| Equipment |
|
|
1,199 |
| 1,214 |
| 1,052 |
| Marketing |
|
|
1,255 |
| 1,349 |
| 985 |
| Professional fees |
|
|
930 |
| 836 |
| 844 |
| Amortization of intangibles |
|
|
809 |
| 664 |
| 217 |
| Data processing |
|
|
1,487 |
| 1,330 |
| 1,104 |
| Telecommunications |
|
|
827 |
| 730 |
| 571 |
| Other general operating |
|
|
4,120 |
| 4,457 |
| 2,930 |
| Merger and restructuring charges |
|
|
412 |
| 618 |
| — |
|
|
|
|
|
|
|
|
|
| Total noninterest expense |
|
|
28,681 |
| 27,012 |
| 20,155 |
|
|
|
|
|
|
|
|
|
| Income before income taxes |
|
|
24,480 |
| 20,908 |
| 15,781 |
| Income tax expense |
|
|
8,015 |
| 6,961 |
| 5,019 |
|
|
|
|
|
|
|
|
|
| Net income |
|
$ |
16,465 |
|
$ |
13,947 |
|
$ |
10,762 |
|
|
|
|
|
|
|
|
|
| Net income available to common shareholders |
|
$ |
16,447 |
|
$ |
13,931 |
|
$ |
10,758 |
|
|
|
|
|
|
|
|
|
| Per common share information |
|
| Earnings |
|
$ |
4.10 |
|
$ |
3.71 |
|
$ |
3.62 |
|
|
|
|
|
|
|
|
|
| Diluted earnings |
|
$ |
4.04 |
|
$ |
3.64 |
|
$ |
3.55 |
|
|
|
|
|
|
|
|
|
| Dividends paid |
|
$ |
1.90 |
|
$ |
1.70 |
|
$ |
1.44 |
|
|
|
|
|
|
|
|
|
| Average common shares issued and outstanding (in thousands) |
|
|
4,008,688 |
| 3,758,507 |
| 2,973,407 |
|
|
|
|
|
|
|
|
|
| Average diluted common shares issued and outstanding (in thousands) |
|
|
4,068,140 |
| 3,823,943 |
| 3,030,356 |
|
|
|
|
|
|
|
|
|
See accompanying Notes to Consolidated Financial Statements.
|
