Bank of America 2010 Annual Report Download - page 241

The following tables present total revenue, net of interest expense, on a FTE basis and net income (loss) for 2010, 2009 and 2008, and total assets at
December 31, 2010 and 2009 for each business segment, as well as All Other.
Business Segments
At and for the Year Ended December 31
(Dollars in millions) 2010 2009 2008 2010 2009 2008 2010 2009 2008
Total Corporation
(1)
Deposits Global Card Services
(2)
Net interest income
(3)
$52,693 $ 48,410 $46,554 $8,128 $ 7,089 $10,910 $17,821 $ 19,972 $19,305
Noninterest income
58,697 72,534 27,422 5,053 6,801 6,854 7,800 9,074 11,628
Total revenue, net of interest expense
111,390 120,944 73,976 13,181 13,890 17,764 25,621 29,046 30,933
Provision for credit losses
28,435 48,570 26,825 201 343 390 12,648 29,553 19,575
Amortization of intangibles
1,731 1,977 1,834 195 238 297 813 911 1,048
Goodwill impairment
12,400 –– – –– 10,400 ––
Other noninterest expense
68,977 64,736 39,695 10,636 9,263 8,296 6,140 6,815 7,905
Income (loss) before income taxes
(153) 5,661 5,622 2,149 4,046 8,781 (4,380) (8,233) 2,405
Income tax expense (benefit)
(3)
2,085 (615) 1,614 797 1,470 3,192 2,223 (2,972) 850
Net income (loss) $ (2,238) $ 6,276 $ 4,008 $1,352 $ 2,576 $ 5,589 $(6,603) $ (5,261) $ 1,555
Year end total assets $2,264,909 $2,230,232 $432,334 $444,612 $169,762 $212,668
2010 2009 2008 2010 2009 2008 2010 2009 2008
Home Loans & Insurance Global Commercial Banking Global Banking & Markets
Net interest income
(3)
$4,690 $ 4,975 $ 3,311 $8,086 $8,054 $8,142 $7,989 $ 9,553 $ 8,297
Noninterest income
5,957 11,928 6,001 2,817 3,087 2,535 20,509 23,070 (5,506)
Total revenue, net of interest expense
10,647 16,903 9,312 10,903 11,141 10,677 28,498 32,623 2,791
Provision for credit losses
8,490 11,244 6,287 1,971 7,768 3,316 (155) 1,998 424
Amortization of intangibles
38 63 39 72 87 127 144 165 91
Goodwill impairment
2,000 –– – –– – ––
Other noninterest expense
13,125 11,642 6,977 3,802 3,746 3,205 17,894 15,756 7,221
Income (loss) before income taxes
(13,006) (6,046) (3,991) 5,058 (460) 4,029 10,615 14,704 (4,945)
Income tax expense (benefit)
(3)
(4,085) (2,195) (1,477) 1,877 (170) 1,418 4,296 4,646 (1,756)
Net income (loss) $ (8,921) $ (3,851) $(2,514) $3,181 $ (290) $ 2,611 $6,319 $ 10,058 $(3,189)
Year end total assets $213,455 $232,588 $310,131 $295,947 $655,535 $649,876
2010 2009 2008 2010 2009 2008
Global Wealth &
Investment Management All Other
(2)
Net interest income
(3)
$5,831 $ 5,988 $4,780 $148 $ (7,221) $(8,191)
Noninterest income
10,840 10,149 1,527 5,721 8,425 4,383
Total revenue, net of interest expense
16,671 16,137 6,307 5,869 1,204 (3,808)
Provision for credit losses
646 1,061 664 4,634 (3,397) (3,831)
Amortization of intangibles
458 480 192 11 33 40
Other noninterest expense
13,140 11,917 3,872 4,240 5,597 2,219
Income (loss) before income taxes
2,427 2,679 1,579 (3,016) (1,029) (2,236)
Income tax expense (benefit)
(3)
1,080 963 565 (4,103) (2,357) (1,178)
Net income (loss) $1,347 $ 1,716 $1,014 $1,087 $ 1,328 $(1,058)
Year end total assets $297,301 $250,963 $186,391 $143,578
(1)
There were no material intersegment revenues.
(2)
2010 is presented in accordance with new consolidation guidance. 2009 and 2008 Global Card Services results are presented on a managed basis with a corresponding offset recorded in All Other.
(3)
FTE basis
Bank of America 2010 239