Bank of America 2010 Annual Report Download - page 134

Table XV Quarterly Reconciliations to GAAP Financial Measures
(1)
(Dollars in millions, except per share information) Fourth Third Second First Fourth Third Second First
2010 Quarters 2009 Quarters
Reconciliation of net interest income to net interest income on a fully taxable-
equivalent basis
Net interest income $12,439 $ 12,435 $ 12,900 $ 13,749 $ 11,559 $ 11,423 $ 11,630 $ 12,497
Fully taxable-equivalent adjustment
270 282 297 321 337 330 312 322
Net interest income on a fully taxable-equivalent basis $12,709 $ 12,717 $ 13,197 $ 14,070 $ 11,896 $ 11,753 $ 11,942 $ 12,819
Reconciliation of total revenue, net of interest expense to total revenue, net of
interest expense on a fully taxable-equivalent basis
Total revenue, net of interest expense $22,398 $ 26,700 $ 29,153 $ 31,969 $ 25,076 $ 26,035 $ 32,774 $ 35,758
Fully taxable-equivalent adjustment
270 282 297 321 337 330 312 322
Total revenue, net of interest expense on a fully taxable-equivalent basis $22,668 $ 26,982 $ 29,450 $ 32,290 $ 25,413 $ 26,365 $ 33,086 $ 36,080
Reconciliation of total noninterest expense to total noninterest expense,
excluding goodwill impairment charges
Total noninterest expense $20,864 $ 27,216 $ 17,253 $ 17,775 $ 16,385 $ 16,306 $ 17,020 $ 17,002
Goodwill impairment charges
(2,000) (10,400) – – – – – –
Total noninterest expense, excluding goodwill impairment charges $18,864 $ 16,816 $ 17,253 $ 17,775 $ 16,385 $ 16,306 $ 17,020 $ 17,002
Reconciliation of income tax expense (benefit) to income tax expense (benefit)
on a fully taxable-equivalent basis
Income tax expense (benefit) $ (2,351) $ 1,387 $ 672 $ 1,207 $ (1,225) $ (975) $ (845) $ 1,129
Fully taxable-equivalent adjustment
270 282 297 321 337 330 312 322
Income tax expense (benefit) on a fully taxable-equivalent basis $ (2,081) $ 1,669 $ 969 $ 1,528 $ (888) $ (645) $ (533) $ 1,451
Reconciliation of net income (loss) to net income (loss), excluding goodwill
impairment charges
Net income (loss) $ (1,244) $ (7,299) $ 3,123 $ 3,182 $ (194) $ (1,001) $ 3,224 $ 4,247
Goodwill impairment charges
2,000 10,400 – – – – – –
Net income (loss), excluding goodwill impairment charges $756 $ 3,101 $ 3,123 $ 3,182 $ (194) $ (1,001) $ 3,224 $ 4,247
Reconciliation of net income (loss) applicable to common shareholders to net
income (loss) applicable to common shareholders, excluding goodwill
impairment charges
Net income (loss) applicable to common shareholders $ (1,565) $ (7,647) $ 2,783 $ 2,834 $ (5,196) $ (2,241) $ 2,419 $ 2,814
Goodwill impairment charges
2,000 10,400 – – – – – –
Net income (loss) applicable to common shareholders, excluding
goodwill impairment charges
$435 $ 2,753 $ 2,783 $ 2,834 $ (5,196) $ (2,241) $ 2,419 $ 2,814
Reconciliation of average common shareholders’ equity to average tangible
common shareholders’ equity
Common shareholders’ equity $218,728 $215,911 $215,468 $200,380 $197,123 $197,230 $173,497 $160,739
Common Equivalent Securities
– – – 11,760 4,811 – – –
Goodwill
(75,584) (82,484) (86,099) (86,334) (86,053) (86,170) (87,314) (84,584)
Intangible assets (excluding MSRs)
(10,211) (10,629) (11,216) (11,906) (12,556) (13,223) (13,595) (9,461)
Related deferred tax liabilities
3,121 3,214 3,395 3,497 3,712 3,725 3,916 3,977
Tangible common shareholders’ equity $136,054 $126,012 $121,548 $117,397 $107,037 $101,562 $ 76,504 $ 70,671
(1)
Presents reconciliations of non-GAAP measures to GAAP financial measures. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the Corporation. Other companies may define or
calculate non-GAAP measures differently. For more information on non-GAAP measures and ratios we use in assessing the results of the Corporation, see Supplemental Financial Data beginning on page 40.
(2)
On February 24, 2010, the common equivalent shares converted into common shares.
132 Bank of America 2010