Bank of America 2013 Annual Report Download - page 104

102 Bank of America 2013
Table 64 presents a rollforward of the allowance for credit losses, which includes the allowance for loan and lease losses and the
reserve for unfunded lending commitments, for 2013 and 2012.
Table 64 Allowance for Credit Losses
(Dollars in millions) 2013 2012
Allowance for loan and lease losses, January 1 $ 24,179 $ 33,783
Loans and leases charged off
Residential mortgage (1,508)(3,276)
Home equity (2,258)(4,573)
U.S. credit card (4,004)(5,360)
Non-U.S. credit card (508)(835)
Direct/Indirect consumer (710)(1,258)
Other consumer (273)(274)
Total consumer charge-offs (9,261)(15,576)
U.S. commercial (1) (774)(1,309)
Commercial real estate (251)(719)
Commercial lease financing (4)(32)
Non-U.S. commercial (79) (36)
Total commercial charge-offs (1,108)(2,096)
Total loans and leases charged off (10,369) (17,672)
Recoveries of loans and leases previously charged off
Residential mortgage 424 165
Home equity 455 331
U.S. credit card 628 728
Non-U.S. credit card 109 254
Direct/Indirect consumer 365 495
Other consumer 39 42
Total consumer recoveries 2,020 2,015
U.S. commercial (2) 287 368
Commercial real estate 102 335
Commercial lease financing 29 38
Non-U.S. commercial 34 8
Total commercial recoveries 452 749
Total recoveries of loans and leases previously charged off 2,472 2,764
Net charge-offs (7,897)(14,908)
Write-offs of PCI loans (2,336)(2,820)
Provision for loan and lease losses 3,574 8,310
Other (3) (92) (186)
Allowance for loan and lease losses, December 31 17,428 24,179
Reserve for unfunded lending commitments, January 1 513 714
Provision for unfunded lending commitments (18) (141)
Other (4) (11) (60)
Reserve for unfunded lending commitments, December 31 484 513
Allowance for credit losses, December 31 $ 17,912 $ 24,692
(1) Includes U.S. small business commercial charge-offs of $457 million and $799 million in 2013 and 2012.
(2) Includes U.S. small business commercial recoveries of $98 million and $100 million in 2013 and 2012.
(3) Primarily represents the net impact of portfolio sales, consolidations and deconsolidations, and foreign currency translation adjustments.
(4) Primarily represents accretion of the Merrill Lynch purchase accounting adjustment.