Bank of America 2005 Annual Report Download - page 192

BANK OF AMERICA CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements—(Continued)
Consolidated Statement of Income
2004 Quarters
Fourth Third Second First
(Dollars in millions, except per
share information) As Previously Reported Restated As Previously Reported Restated As Previously Reported Restated As Previously Reported Restated
Interest income
Interest and fees on loans and leases . . . $ 7,919 $ 7,877 $ 7,508 $ 7,499 $ 7,237 $ 7,183 $ 5,549 $ 5,492
Interest and dividends on securities . . . . 2,065 2,063 2,078 2,076 1,907 1,907 1,212 1,210
Federal funds sold and securities
purchased under agreements to
resell ............................ 712 699 484 464 413 385 434 392
Trading account assets ............... 1,035 1,035 960 960 1,009 1,009 1,012 1,012
Otherinterestincome ................ 464 464 457 457 424 424 345 345
Totalinterestincome............. 12,195 12,138 11,487 11,456 10,990 10,908 8,552 8,451
Interest expense
Deposits ............................ 1,829 1,764 1,711 1,616 1,529 1,427 1,206 1,114
Short-term borrowings ............... 1,543 1,452 1,152 1,050 1,019 910 720 660
Trading account liabilities ............ 352 352 333 333 298 298 334 334
Long-term debt ...................... 724 1,020 626 942 563 907 491 814
Total interest expense ............ 4,448 4,588 3,822 3,941 3,409 3,542 2,751 2,922
Net interest income ................ 7,747 7,550 7,665 7,515 7,581 7,366 5,801 5,529
Noninterest income
Servicecharges ..................... 1,891 1,891 1,899 1,899 1,783 1,783 1,416 1,416
Investment and brokerage services . . . . 1,008 1,008 972 972 999 999 635 635
Mortgage banking income ............ 156 156 (250) (250) 299 299 209 209
Investment banking income ........... 497 497 438 438 547 547 404 404
Equityinvestmentgains.............. 426 426 220 220 84 84 133 133
Cardincome ........................ 1,380 1,380 1,258 1,258 1,159 1,159 795 795
Trading account profits ............... 269 269 184 184 413 414 3 2
Otherincome ....................... 339 547 201 1,291 183 (415) 135 355
Total noninterest income ......... 5,966 6,174 4,922 6,012 5,467 4,870 3,730 3,949
Total revenue ..................... 13,713 13,724 12,587 13,527 13,048 12,236 9,531 9,478
Provision for credit losses ......... 706 706 650 650 789 789 624 624
Gains on sales of debt securities . . . . 101 101 732 333 795 795 495 495
Noninterest expense
Personnel .......................... 3,520 3,520 3,534 3,534 3,629 3,629 2,752 2,752
Occupancy .......................... 648 648 622 622 621 621 488 488
Equipment ......................... 326 326 309 309 318 318 261 261
Marketing .......................... 337 337 364 364 367 367 281 281
Professional fees .................... 275 275 207 207 194 194 160 160
Amortization of intangibles ........... 209 209 200 200 201 201 54 54
Dataprocessing ..................... 371 371 341 341 333 333 284 284
Telecommunications ................. 216 216 180 180 183 183 151 151
Other general operating .............. 1,159 1,159 1,043 1,043 1,257 1,257 999 999
Merger and restructuring charges ..... 272 272 221 221 125 125 — —
Total noninterest expense ......... 7,333 7,333 7,021 7,021 7,228 7,228 5,430 5,430
Income before income taxes ........ 5,775 5,786 5,648 6,189 5,826 5,014 3,972 3,919
Income tax expense ................ 1,926 1,931 1,884 2,086 1,977 1,673 1,291 1,271
Net income ........................ $ 3,849 $ 3,855 $ 3,764 $ 4,103 $ 3,849 $ 3,341 $ 2,681 $ 2,648
Net income available to common
shareholders .................... $ 3,844 $ 3,850 $ 3,759 $ 4,098 $ 3,844 $ 3,336 $ 2,680 $ 2,647
Per common share information
Earnings ........................... $ 0.95 $ 0.95 $ 0.93 $ 1.01 $ 0.95 $ 0.82 $ 0.93 $ 0.92
Dilutedearnings .................... $ 0.94 $ 0.94 $ 0.91 $ 0.99 $ 0.93 $ 0.81 $ 0.91 $ 0.90
Dividends paid ...................... $ 0.45 $ 0.45 $ 0.45 $ 0.45 $ 0.40 $ 0.40 $ 0.40 $ 0.40
Average common shares issued and
outstanding (in thousands) ....... 4,032,979 4,032,979 4,052,304 4,052,304 4,062,384 4,062,384 2,880,306 2,880,306
Average diluted common shares
issued and outstanding (in
thousands) ...................... 4,106,040 4,106,040 4,121,375 4,121,375 4,131,290 4,131,290 2,933,402 2,933,402
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