Bank of America 2012 Annual Report Download - page 143

Bank of America 2012 141
Table XV Five Year Reconciliations to GAAP Financial Measures (1)
(Dollars in millions, shares in thousands) 2012 2011 2010 2009 2008
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income $ 40,656 $ 44,616 $ 51,523 $ 47,109 $45,360
Fully taxable-equivalent adjustment 901 972 1,170 1,301 1,194
Net interest income on a fully taxable-equivalent basis $ 41,557 $ 45,588 $ 52,693 $ 48,410 $46,554
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 $ 83,334 $ 93,454 $ 110,220 $ 119,643 $ 72,782
Fully taxable-equivalent adjustment 901 972 1,170 1,301 1,194
Total revenue, net of interest expense on a fully taxable-equivalent basis $ 84,235 $ 94,426 $ 111,390 $ 120,944 $ 73,976
Reconciliation of total noninterest expense to total noninterest expense, excluding goodwill impairment
charges
Total noninterest expense $ 72,093 $ 80,274 $ 83,108 $ 66,713 $41,529
Goodwill impairment charges —(3,184) (12,400) — —
Total noninterest expense, excluding goodwill impairment charges $ 72,093 $ 77,090 $ 70,708 $ 66,713 $41,529
Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent
basis
Income tax expense (benefit) $ (1,116) $ (1,676) $ 915 $ (1,916) $ 420
Fully taxable-equivalent adjustment 901 972 1,170 1,301 1,194
Income tax expense (benefit) on a fully taxable-equivalent basis $ (215) $ (704) $ 2,085 $ (615) $ 1,614
Reconciliation of net income (loss) to net income, excluding goodwill impairment charges
Net income (loss) $ 4,188 $ 1,446 $ (2,238) $ 6,276 $ 4,008
Goodwill impairment charges —3,184 12,400 — —
Net income, excluding goodwill impairment charges $ 4,188 $ 4,630 $ 10,162 $ 6,276 $ 4,008
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 $ 2,760 $ 85 $ (3,595) $ (2,204) $ 2,556
Goodwill impairment charges —3,184 12,400 — —
Net income (loss) applicable to common shareholders, excluding goodwill impairment charges $ 2,760 $ 3,269 $ 8,805 $ (2,204) $ 2,556
Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
Common shareholders’ equity $ 216,996 $ 211,709 $ 212,686 $ 182,288 $ 141,638
Common Equivalent Securities —— 2,900 1,213 —
Goodwill (69,974) (72,334) (82,600) (86,034) (79,827)
Intangible assets (excluding MSRs) (7,366) (9,180) (10,985) (12,220) (9,502)
Related deferred tax liabilities 2,593 2,898 3,306 3,831 1,782
Tangible common shareholders’ equity $ 142,249 $ 133,093 $ 125,307 $ 89,078 $54,091
Reconciliation of average shareholders’ equity to average tangible shareholders’ equity
Shareholders’ equity $ 235,677 $ 229,095 $ 233,235 $ 244,645 $ 164,831
Goodwill (69,974) (72,334) (82,600) (86,034) (79,827)
Intangible assets (excluding MSRs) (7,366) (9,180) (10,985) (12,220) (9,502)
Related deferred tax liabilities 2,593 2,898 3,306 3,831 1,782
Tangible shareholders’ equity $ 160,930 $ 150,479 $ 142,956 $ 150,222 $ 77,284
Reconciliation of year-end common shareholders’ equity to year-end tangible common shareholders’ equity
Common shareholders’ equity $ 218,188 $ 211,704 $ 211,686 $ 194,236 $ 139,351
Common Equivalent Securities ———
19,244 —
Goodwill (69,976) (69,967) (73,861) (86,314) (81,934)
Intangible assets (excluding MSRs) (6,684) (8,021) (9,923) (12,026) (8,535)
Related deferred tax liabilities 2,428 2,702 3,036 3,498 1,854
Tangible common shareholders’ equity $ 143,956 $ 136,418 $ 130,938 $ 118,638 $ 50,736
Reconciliation of year-end shareholders’ equity to year-end tangible shareholders’ equity
Shareholders’ equity $ 236,956 $ 230,101 $ 228,248 $ 231,444 $ 177,052
Goodwill (69,976) (69,967) (73,861) (86,314) (81,934)
Intangible assets (excluding MSRs) (6,684) (8,021) (9,923) (12,026) (8,535)
Related deferred tax liabilities 2,428 2,702 3,036 3,498 1,854
Tangible shareholders’ equity $ 162,724 $ 154,815 $ 147,500 $ 136,602 $ 88,437
Reconciliation of year-end assets to year-end tangible assets
Assets $ 2,209,974 $ 2,129,046 $ 2,264,909 $ 2,230,232 $1,817,943
Goodwill (69,976) (69,967) (73,861) (86,314) (81,934)
Intangible assets (excluding MSRs) (6,684) (8,021) (9,923) (12,026) (8,535)
Related deferred tax liabilities 2,428 2,702 3,036 3,498 1,854
Tangible assets $ 2,135,742 $ 2,053,760 $ 2,184,161 $ 2,135,390 $1,729,328
Reconciliation of year-end common shares outstanding to year-end tangible common shares outstanding
Common shares outstanding 10,778,264 10,535,938 10,085,155 8,650,244 5,017,436
Assumed conversion of common equivalent shares (2) ———
1,286,000 —
Tangible common shares outstanding 10,778,264 10,535,938 10,085,155 9,936,244 5,017,436
(1) Presents reconciliations of non-GAAP financial measures to GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results
of the Corporation. Other companies may define or calculate these measures differently. For more information on non-GAAP financial measures and ratios we use in assessing the results of the
Corporation, see Supplemental Financial Data on page 31.
(2) On February 24, 2010, the common equivalent shares converted into common shares.