Bank of America 2013 Annual Report Download - page 141

Bank of America 2013 139
Table XV Five-year Reconciliations to GAAP Financial Measures (1)
(Dollars in millions, shares in thousands) 2013 2012 2011 2010 2009
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income $ 42,265 $ 40,656 $ 44,616 $ 51,523 $47,109
Fully taxable-equivalent adjustment 859 901 972 1,170 1,301
Net interest income on a fully taxable-equivalent basis $ 43,124 $ 41,557 $ 45,588 $ 52,693 $48,410
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 $ 88,942 $ 83,334 $ 93,454 $ 110,220 $ 119,643
Fully taxable-equivalent adjustment 859 901 972 1,170 1,301
Total revenue, net of interest expense on a fully taxable-equivalent basis $ 89,801 $ 84,235 $ 94,426 $ 111,390 $ 120,944
Reconciliation of total noninterest expense to total noninterest expense, excluding goodwill impairment
charges
Total noninterest expense $ 69,214 $ 72,093 $ 80,274 $ 83,108 $66,713
Goodwill impairment charges —— (3,184) (12,400) —
Total noninterest expense, excluding goodwill impairment charges $ 69,214 $ 72,093 $ 77,090 $ 70,708 $66,713
Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent
basis
Income tax expense (benefit) $ 4,741 $ (1,116) $ (1,676) $ 915 $(1,916)
Fully taxable-equivalent adjustment 859 901 972 1,170 1,301
Income tax expense (benefit) on a fully taxable-equivalent basis $ 5,600 $ (215) $ (704) $ 2,085 $ (615)
Reconciliation of net income (loss) to net income, excluding goodwill impairment charges
Net income (loss) $ 11,431 $ 4,188 $ 1,446 $ (2,238) $ 6,276
Goodwill impairment charges —— 3,184 12,400 —
Net income, excluding goodwill impairment charges $ 11,431 $ 4,188 $ 4,630 $ 10,162 $6,276
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 $ 10,082 $ 2,760 $ 85 $ (3,595) $ (2,204)
Goodwill impairment charges —— 3,184 12,400 —
Net income (loss) applicable to common shareholders, excluding goodwill impairment charges $ 10,082 $ 2,760 $ 3,269 $ 8,805 $ (2,204)
Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
Common shareholders’ equity $ 218,468 $ 216,996 $ 211,709 $ 212,686 $ 182,288
Common Equivalent Securities —— — 2,900 1,213
Goodwill (69,910) (69,974) (72,334) (82,600) (86,034)
Intangible assets (excluding MSRs) (6,132) (7,366) (9,180) (10,985) (12,220)
Related deferred tax liabilities 2,328 2,593 2,898 3,306 3,831
Tangible common shareholders’ equity $ 144,754 $ 142,249 $ 133,093 $ 125,307 $ 89,078
Reconciliation of average shareholders’ equity to average tangible shareholders’ equity
Shareholders’ equity $ 233,947 $ 235,677 $ 229,095 $ 233,235 $ 244,645
Goodwill (69,910) (69,974) (72,334) (82,600) (86,034)
Intangible assets (excluding MSRs) (6,132) (7,366) (9,180) (10,985) (12,220)
Related deferred tax liabilities 2,328 2,593 2,898 3,306 3,831
Tangible shareholders’ equity $ 160,233 $ 160,930 $ 150,479 $ 142,956 $ 150,222
Reconciliation of year-end common shareholders’ equity to year-end tangible common shareholders’ equity
Common shareholders’ equity $ 219,333 $ 218,188 $ 211,704 $ 211,686 $ 194,236
Common Equivalent Securities ————
19,244
Goodwill (69,844) (69,976) (69,967) (73,861) (86,314)
Intangible assets (excluding MSRs) (5,574) (6,684) (8,021) (9,923) (12,026)
Related deferred tax liabilities 2,166 2,428 2,702 3,036 3,498
Tangible common shareholders’ equity $ 146,081 $ 143,956 $ 136,418 $ 130,938 $ 118,638
Reconciliation of year-end shareholders’ equity to year-end tangible shareholders’ equity
Shareholders’ equity $ 232,685 $ 236,956 $ 230,101 $ 228,248 $ 231,444
Goodwill (69,844) (69,976) (69,967) (73,861) (86,314)
Intangible assets (excluding MSRs) (5,574) (6,684) (8,021) (9,923) (12,026)
Related deferred tax liabilities 2,166 2,428 2,702 3,036 3,498
Tangible shareholders’ equity $ 159,433 $ 162,724 $ 154,815 $ 147,500 $ 136,602
Reconciliation of year-end assets to year-end tangible assets
Assets $ 2,102,273 $ 2,209,974 $ 2,129,046 $ 2,264,909 $2,230,232
Goodwill (69,844) (69,976) (69,967) (73,861) (86,314)
Intangible assets (excluding MSRs) (5,574) (6,684) (8,021) (9,923) (12,026)
Related deferred tax liabilities 2,166 2,428 2,702 3,036 3,498
Tangible assets $ 2,029,021 $ 2,135,742 $ 2,053,760 $ 2,184,161 $2,135,390
Reconciliation of year-end common shares outstanding to year-end tangible common shares outstanding
Common shares outstanding 10,591,808 10,778,264 10,535,938 10,085,155 8,650,244
Assumed conversion of common equivalent shares (2) ————
1,286,000
Tangible common shares outstanding 10,591,808 10,778,264 10,535,938 10,085,155 9,936,244
(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 29.
(2) On February 24, 2010, the common equivalent shares converted into common shares.