Bank of America 2002 Annual Report Download - page 111

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Reconciliations of the four business segments’ revenue, net income and assets to consolidated totals follow:
(Dollars in millions)
2002 2001 2000
Segments’ revenue $ 33,788 $ 33,148 $ 31,245
Adjustments:
Earnings associated with unassigned capital 597 228 307
Asset/liability management mortgage portfolio 122 454 480
Whole mortgage loan sale gains 500 20 13
Liquidating businesses 475 1,363 1,042
SFAS 133 transition adjustment net loss –(106) –
Gain on sale of a business ––187
Other (400) (126) (21)
Consolidated revenue $ 35,082 $ 34,981 $ 33,253
Segments’ net income $ 7,886 $ 7,316 $ 7,347
Adjustments, net of taxes:
Earnings associated with unassigned capital 402 146 196
Asset/liability management mortgage portfolio 59 281 305
Liquidating businesses 18 204 63
SFAS 133 transition adjustment net loss –(68) –
Whole mortgage loan sale gains 337 13 8
Gain on sale of a business –– 117
Provision for credit losses in excess of net charge-offs –(182) (86)
Gains on sales of securities 460 332 25
Severance charge (86) (96) –
Litigation expense –(214) –
Exit charges –(1,250) –
Restructuring charges –– (346)
Tax benefit associated with basis difference in subsidiary stock –267 –
Tax settlement 488 ––
Other (315) 43 (112)
Consolidated net income $ 9,249 $ 6,792 $ 7,517
Segments’ total assets $ 590,852 $ 533,501
Adjustments:
Securities portfolio 65,979 71,563
Asset/liability management mortgage portfolio 65,447 39,658
Liquidating businesses 9,294 15,679
Elimination of excess earning asset allocations (106,672) (68,991)
Other, net 35,558 30,354
Consolidated total assets $ 660,458 $ 621,764
The adjustments presented in the table above include consolidated income, expense and asset amounts not specifically allocated to individual
business segments.
BANK OF AMERICA 2002 109