Bank of America 2012 Annual Report Download - page 31

Bank of America 2012 29
Table 7 Five Year Summary of Selected Financial Data
(In millions, except per share information) 2012 2011 2010 2009 2008
Income statement
Net interest income $ 40,656 $ 44,616 $ 51,523 $ 47,109 $ 45,360
Noninterest income 42,678 48,838 58,697 72,534 27,422
Total revenue, net of interest expense 83,334 93,454 110,220 119,643 72,782
Provision for credit losses 8,169 13,410 28,435 48,570 26,825
Goodwill impairment —3,184 12,400 — —
Merger and restructuring charges —638 1,820 2,721 935
All other noninterest expense (1) 72,093 76,452 68,888 63,992 40,594
Income (loss) before income taxes 3,072 (230) (1,323) 4,360 4,428
Income tax expense (benefit) (1,116)(1,676) 915 (1,916) 420
Net income (loss) 4,188 1,446 (2,238) 6,276 4,008
Net income (loss) applicable to common shareholders 2,760 85 (3,595) (2,204) 2,556
Average common shares issued and outstanding 10,746 10,143 9,790 7,729 4,592
Average diluted common shares issued and outstanding (2) 10,841 10,255 9,790 7,729 4,596
Performance ratios
Return on average assets 0.19%0.06% n/m 0.26% 0.22%
Return on average common shareholders’ equity 1.27 0.04 n/m n/m 1.80
Return on average tangible common shareholders’ equity (3) 1.94 0.06 n/m n/m 4.72
Return on average tangible shareholders’ equity (3) 2.60 0.96 n/m 4.18 5.19
Total ending equity to total ending assets 10.72 10.81 10.08% 10.38 9.74
Total average equity to total average assets 10.75 9.98 9.56 10.01 8.94
Dividend payout 15.86 n/m n/m n/m n/m
Per common share data
Earnings (loss) $0.26 $ 0.01 $ (0.37) $ (0.29) $ 0.54
Diluted earnings (loss) (2) 0.25 0.01 (0.37) (0.29) 0.54
Dividends paid 0.04 0.04 0.04 0.04 2.24
Book value 20.24 20.09 20.99 21.48 27.77
Tangible book value (3) 13.36 12.95 12.98 11.94 10.11
Market price per share of common stock
Closing $ 11.61 $ 5.56 $ 13.34 $ 15.06 $ 14.08
High closing 11.61 15.25 19.48 18.59 45.03
Low closing 5.80 4.99 10.95 3.14 11.25
Market capitalization $ 125,136 $ 58,580 $ 134,536 $ 130,273 $ 70,645
(1) Excludes merger and restructuring charges and goodwill impairment charges.
(2) Due to a net loss applicable to common shareholders for 2010 and 2009, the impact of antidilutive equity instruments was excluded from diluted earnings (loss) per share and average diluted
common shares.
(3) Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. Other companies may define or calculate these measures differently. For additional
information on these ratios and corresponding reconciliations to GAAP financial measures, see Supplemental Financial Data on page 31 and Statistical Table XV on page 141.
(4) For more information on the impact of the PCI loan portfolio on asset quality, see Consumer Portfolio Credit Risk Management on page 76.
(5) Includes the allowance for loan and lease losses and the reserve for unfunded lending commitments.
(6) Balances and ratios do not include loans accounted for under the fair value option. For additional exclusions from nonperforming loans, leases and foreclosed properties, see Nonperforming Consumer
Loans and Foreclosed Properties Activity on page 89 and corresponding Table 37, and Nonperforming Commercial Loans, Leases and Foreclosed Properties Activity on page 97 and corresponding
Table 46.
(7) Amounts included in allowance that are excluded from nonperforming loans primarily include amounts allocated to the U.S. credit card and unsecured consumer lending portfolios in CBB, PCI loans
and the non-U.S. credit card portfolio in All Other.
(8) Net charge-offs exclude $2.8 billion of write-offs in the Countrywide home equity PCI loan portfolio for 2012. These write-offs decreased the PCI valuation allowance included as part of the allowance
for loan and lease losses. For information on PCI write-offs, see Countrywide Purchased Credit-impaired Loan Portfolio on page 86.
(9) There were no write-offs of PCI loans in 2011, 2010, 2009 and 2008.
n/m = not meaningful