Bank of America 2007 Annual Report Download - page 174
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The following tables present reconciliations of the three business segments’ (GCSBB, GCIB and GWIM) total revenue, net of interest expense, on a FTE
basis and net income to the Consolidated Statement of Income, and total assets to the Consolidated Balance Sheet. The adjustments presented in the
table below include consolidated income and expense amounts not specifically allocated to individual business segments.
Year Ended December 31
(Dollars in millions)
2007
2006 2005
Segments’ total revenue, net of interest expense
(1)
$69,022
$73,444 $55,160
Adjustments:
ALM activities
(2)
66
(936) 319
Equity investment income
3,745
2,872 2,033
Liquidating businesses
628
2,670 1,937
FTE basis adjustment
(1,749)
(1,224) (832)
Managed securitization impact to total revenue, net of interest expense
(4,959)
(3,362) (434)
Other
(434)
(884) (1,008)
Consolidated revenue, net of interest expense
$66,319
$72,580 $57,175
Segments’ net income
$12,063
$19,633 $14,988
Adjustments, net of taxes:
ALM activities
(2, 3)
(241)
(816) 52
Equity investment income
2,359
1,809 1,281
Liquidating businesses
416
1,138 856
Merger and restructuring charges
258
507 275
Other
127
(1,138) (987)
Consolidated net income
$14,982
$21,133 $16,465
(1) FTE basis
(2) Includes revenue associated with derivative instruments which did not qualify for SFAS 133 hedge accounting treatment of $(675) million in 2005.
(3) Includes net income associated with derivative instruments which did not qualify for SFAS 133 hedge accounting treatment of $(421) million in 2005.
December 31
(Dollars in millions)
2007
2006
Segments’ total assets
$1,376,251
$1,210,595
Adjustments:
ALM activities, including securities portfolio
452,626
384,459
Equity investments
31,306
15,639
Liquidating businesses
5,340
10,224
Elimination of segment excess asset allocations to match liabilities
(72,611)
(79,926)
Elimination of managed securitized loans
(1)
(102,967)
(101,865)
Other
25,801
20,611
Consolidated total assets
$1,715,746
$1,459,737
(1) Represents GCSBB’s securitized loans.
172
Bank of America 2007