Bank of America 2011 Annual Report Download - page 18

Bank of America Corporation — Financial Highlights
Bank of America Corporation (NYSE: BAC) is headquartered in Charlotte, N.C. As of December 31, 2011, we operated in all 50 states,
the District of Columbia and more than 40 countries. Through our banking and various non-banking subsidiaries throughout the United
States and in selected international markets, we provide a diversified range of banking and non-banking financial services and products
through six business segments: Deposits, Card Services, Consumer Real Estate Services, Global Commercial Banking, Global Banking &
Markets and Global Wealth & Investment Management. Bank of America is a member of the Dow Jones Industrial Average.
Financial Highlights (in millions, except per share information)
For the year 2011 2010 2009
Revenue, net of interest expense (FTE basis)1 $ 94,426 $ 111,390 $ 120,944
Net income (loss) 1,446 (2,238) 6,276
Net income, excluding goodwill impairment charges2 4,630 10,162 n/a
Earnings (loss) per common share 0.01 (0.37) (0.29)
Diluted earnings (loss) per common share 0.01 (0.37) (0.29)
Diluted earnings per common share, excluding goodwill impairment charges2 0.32 0.86 n/a
Dividends paid per common share 0.04 0.04 0.04
Return on average assets 0.06% n/m 0.26%
Return on average tangible shareholders’ equity1 0.96 n/m 4.18
Efficiency ratio (FTE basis)1 85.01 74.61 55.16
Average diluted common shares issued and outstanding 10,255 9,790 7,729
At year-end 2011 2010 2009
Total loans and leases $ 926,200 $ 940,440 $ 900,128
Total assets 2,129,046 2,264,909 2,230,232
Total deposits 1,033,041 1,010,430 991,611
Total shareholders’ equity 230,101 228,248 231,444
Book value per common share 20.09 20.99 21.48
Tangible book value per common share3 12.95 12.98 11.94
Market price per common share 5.56 13.34 15.06
Common shares issued and outstanding 10,536 10,085 8,650
Tier 1 common capital ratio 9.86% 8.60% 7.81%
Tangible common equity ratio3 6.64 5.99 5.56
1 Fully taxable-equivalent (FTE) basis, return on average tangible shareholders’ equity and the efficiency ratios are non-GAAP financial measures. For additional information on
these measures and ratios and a corresponding reconciliation to GAAP financial measures, see Supplemental Financial Data on page 32 and Statistical Table XV in the 2011
Financial Review section.
2 Net income (loss) and diluted earnings per common share ratios have been calculated excluding the impact of goodwill impairment charges of $3.2 billion in 2011 and
$12.4 billion in 2010, and accordingly, these are non-GAAP financial measures. For additional information on these measures and ratios and a corresponding reconciliation to
GAAP financial measures, see Supplemental Financial Data on page 32 and Statistical Table XV in the 2011 Financial Review section.
3 Tangible book value per share of common stock and tangible common equity ratio are non-GAAP financial measures. For additional information on these measures and ratios
and a corresponding reconciliation to GAAP financial measures, see Supplemental Financial Data on page 32 and Statistical Table XV in the 2011 Financial Review section.
n/a=not applicable; n/m=not meaningful
4 This graph compares the yearly change in the Corporation’s total cumulative shareholder return on
its common stock with (i) the Standard & Poor’s 500 Index and (ii) the KBW Bank Index for the years
ended December 31, 2007 through 2011. The graph assumes an initial investment of $100 at the
end of 2006 and the reinvestment of all dividends during the years indicated.
Total Cumulative Shareholder Return4
December 31 2006 2007 2008 2009 2010 2011
BAC BANK OF AMERICA CORPORATION $100 $81 $30 $32 $29 $12
SPX S&P 500 COMP $100 $105 $67 $84 $97 $99
BKX KBW BANK INDEX $100 $78 $41 $41 $50 $38
$0
$20
$40
$60
$80
$100
$120
201120102009200820072006
HIGH $54.05 $45.03 $18.59 $19.48 $15.25
LOW 41.10 11.25 3.14 10.95 4.99
CLOSE 41.26 14.08 15.06 13.34 5.56
BAC Five-Year Stock Performance
$0
$10
$20
$30
$40
$50
$60
20112010200920082007
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