Bank of America 2007 Annual Report Download - page 172

The following tables present total revenue, net of interest expense, on a FTE basis and net income for 2007, 2006 and 2005, and total assets at
December 31, 2007 and 2006 for each business segment, as well as All Other.
Business Segments
At and for the Year Ended December 31 Total Corporation
(1)
Global Consumer and
Small Business Banking
(2, 3)
(Dollars in millions) 2007 2006 2005 2007 2006 2005
Net interest income
(4)
$ 36,182 $ 35,815 $31,569 $ 28,809 $ 28,197 $17,571
Noninterest income 31,886 37,989 26,438 18,873 16,729 10,848
Total revenue, net of interest expense 68,068 73,804 58,007 47,682 44,926 28,419
Provision for credit losses
(5)
8,385 5,010 4,014 12,929 8,534 4,706
Amortization of intangibles 1,676 1,755 809 1,336 1,452 480
Other noninterest expense 35,334 33,842 27,872 18,724 16,923 12,277
Income before income taxes 22,673 33,197 25,312 14,693 18,017 10,956
Income tax expense
(4)
7,691 12,064 8,847 5,263 6,639 3,934
Net income $ 14,982 $ 21,133 $16,465 $ 9,430 $ 11,378 $ 7,022
Period-end total assets $1,715,746 $1,459,737 $442,987 $399,373
Global Corporate
and Investment Banking
(2)
Global Wealth and
Investment Management
(2)
(Dollars in millions) 2007 2006 2005 2007 2006 2005
Net interest income
(4)
$ 11,217 $ 9,877 $10,337 $ 3,857 $ 3,671 $3,554
Noninterest income 2,200 11,284 9,530 4,066 3,686 3,320
Total revenue, net of interest expense 13,417 21,161 19,867 7,923 7,357 6,874
Provision for credit losses 652 944 14 (39) (5)
Amortization of intangibles 178 218 239 150 72 74
Other noninterest expense 11,747 11,360 10,217 4,485 3,795 3,667
Income before income taxes 840 9,574 9,367 3,274 3,529 3,138
Income tax expense
(4)
302 3,542 3,413 1,179 1,306 1,126
Net income $ 538 $ 6,032 $ 5,954 $ 2,095 $ 2,223 $2,012
Period-end total assets $776,107 $685,935 $157,157 $125,287
All Other
(2, 3)
(Dollars in millions) 2007 2006 2005
Net interest income
(4)
$ (7,701) $ (5,930) $ 107
Noninterest income 6,747 6,290 2,740
Total revenue, net of interest expense (954) 360 2,847
Provision for credit losses
(5)
(5,210) (3,494) (731)
Amortization of intangibles 12 13 16
Other noninterest expense 378 1,764 1,711
Income before income taxes 3,866 2,077 1,851
Income tax expense
(4)
947 577 374
Net income $ 2,919 $ 1,500 $1,477
Period-end total assets $339,495 $249,142
(1) There were no material intersegment revenues among the segments.
(2) Total assets include asset allocations to match liabilities (i.e., deposits).
(3) GCSBB is presented on a managed basis with a corresponding offset recorded in All Other.
(4) FTE basis
(5) Provision for credit losses represents: For GCSBB – Provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio and for All Other – Provision for credit losses
combined with the GCSBB securitization offset.
170 Bank of America 2007