Bank of America 2013 Annual Report Download - page 18

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Bank of America Corporation — Financial Highlights
Bank of America Corporation (NYSE: BAC) is headquartered in Charlotte, N.C. As of December 31, 2013, 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 international markets, we provide a diversifi ed range of banking and non-banking
fi nancial services and products through fi ve business segments: Consumer and Business Banking, Consumer Real Estate
Services, Global Wealth and Investment Management, Global Banking and Global Markets.
Financial Highlights (in millions, except per share information)
For the year 2013 2012 2011
Revenue, net of interest expense (fully taxable-equivalent basis)1 $ 89,801 $ 84,235 $ 94,426
Net income 11,431 4,188 1,446
Net income, excluding goodwill impairment charges1 11,431 4,188 4,630
Earnings per common share 0.94 0.26 0.01
Diluted earnings per common share 0.90 0.25 0.01
Diluted earnings per common share, excluding goodwill impairment charges1 0.90 0.25 0.32
Dividends paid per common share 0.04 0.04 0.04
Return on average assets 0.53% 0.19% 0.06%
Return on average tangible shareholders’ equity1 7.13 2.60 0.96
Efficiency ratio (fully taxable-equivalent basis)1 77.07 85.59 85.01
Average diluted common shares issued and outstanding 11,491 10,841 10,255
At year end 2013 2012 2011
Total loans and leases $ 928,233 $ 907,819 $ 926,200
Total assets 2,102,273 2,209,974 2,129,046
Total deposits 1,119,271 1,105,261 1,033,041
Total shareholders’ equity 232,685 236,956 230,101
Book value per common share 20.71 20.24 20.09
Tangible book value per common share1 13.79 13.36 12.95
Market price per common share 15.57 11.61 5.56
Common shares issued and outstanding 10,592 10,778 10,536
Tier 1 common capital ratio 11.19% 11.06% 9.86%
Tangible common equity ratio17.20 6.74 6.64
1 Represents a non-GAAP financial measure. Net income and diluted earnings per common share have been calculated excluding goodwill impairment charges of $3.2 billion
in 2011. There were no goodwill impairment charges in 2013 or 2012. For more information on these measures and ratios, and a corresponding reconciliation to GAAP financial
measures, see Supplemental Financial Data on page 29 and Statistical Table XV on page 139 of the 2013 Financial Review section.
December 31 2008 2009 2010 2011 2012 2013
BAC BANK OF AMERICA CORP $100 $107 $95 $40 $84 $113
SPX S&P 500 COMP $100 $126 $145 $148 $172 $228
BKX KBW BANK SECTOR INDEX $100 $98 $121 $93 $124 $170
2 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, 2009 through 2013. The graph assumes an initial investment of
$100 at the end of 2008 and the reinvestment of all dividends during the years indicated.
Total cumulative shareholder return2
$0
$50
$100
$150
$200
$250
201320122011201020092008
HIGH $18.59 $19.48 $15.25 $11.61 $15.88
LOW 3.14 10.95 4.99 5.80 11.03
CLOSE 15.06 13.34 5.56 11.61 15.57
BAC fi ve-year stock performance
$0
$5
$10
$15
$20
2013
2012201120102009
BAC stock price and credit default
swap spread3
12/31/11
500
400
300
200
100
0
$20
$15
$10
$5
$0
6/30/12 12/31/12 6/30/13 12/31/13
CDS
(
b
p
s
)
Stock Price
STOCK PRICE BAC 5Y CDS
3 Credit default swap spreads are calculated off of 5-year LIBOR.