Bank of America 2015 Annual Report Download - page 123

Bank of America 2015 121
Table XIII Five-year Reconciliations to GAAP Financial Measures (1)
(Dollars in millions, shares in thousands) 2015 2014 2013 2012 2011
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income $ 39,251 $ 39,952 $ 42,265 $ 40,656 $44,616
Fully taxable-equivalent adjustment 909 869 859 901 972
Net interest income on a fully taxable-equivalent basis $ 40,160 $ 40,821 $ 43,124 $ 41,557 $45,588
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 $ 82,507 $ 84,247 $ 88,942 $ 83,334 $93,454
Fully taxable-equivalent adjustment 909 869 859 901 972
Total revenue, net of interest expense on a fully taxable-equivalent basis $ 83,416 $ 85,116 $ 89,801 $ 84,235 $94,426
Reconciliation of total noninterest expense to total noninterest expense, excluding goodwill impairment
charges
Total noninterest expense $ 57,192 $ 75,117 $ 69,214 $ 72,093 $80,274
Goodwill impairment charges ————(3,184)
Total noninterest expense, excluding goodwill impairment charges $ 57,192 $ 75,117 $ 69,214 $ 72,093 $77,090
Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent
basis
Income tax expense (benefit) $ 6,266 $ 2,022 $ 4,741 $ (1,116) $ (1,676)
Fully taxable-equivalent adjustment 909 869 859 901 972
Income tax expense (benefit) on a fully taxable-equivalent basis $ 7,175 $ 2,891 $ 5,600 $ (215) $ (704)
Reconciliation of net income to net income, excluding goodwill impairment charges
Net income $ 15,888 $ 4,833 $ 11,431 $ 4,188 $ 1,446
Goodwill impairment charges —— — — 3,184
Net income, excluding goodwill impairment charges $ 15,888 $ 4,833 $ 11,431 $ 4,188 $ 4,630
Reconciliation of net income applicable to common shareholders to net income applicable to common
shareholders, excluding goodwill impairment charges
Net income applicable to common shareholders $ 14,405 $ 3,789 $ 10,082 $ 2,760 $ 85
Goodwill impairment charges —— — — 3,184
Net income applicable to common shareholders, excluding goodwill impairment charges $ 14,405 $ 3,789 $ 10,082 $ 2,760 $ 3,269
Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
Common shareholders’ equity $ 230,182 $ 223,072 $ 218,468 $ 216,996 $ 211,709
Goodwill (69,772) (69,809) (69,910) (69,974) (72,334)
Intangible assets (excluding MSRs) (4,201) (5,109) (6,132) (7,366) (9,180)
Related deferred tax liabilities 1,852 2,090 2,328 2,593 2,898
Tangible common shareholders’ equity $ 158,061 $ 150,244 $ 144,754 $ 142,249 $ 133,093
Reconciliation of average shareholders’ equity to average tangible shareholders’ equity
Shareholders’ equity $ 251,990 $ 238,482 $ 233,951 $ 235,677 $ 229,095
Goodwill (69,772) (69,809) (69,910) (69,974) (72,334)
Intangible assets (excluding MSRs) (4,201) (5,109) (6,132) (7,366) (9,180)
Related deferred tax liabilities 1,852 2,090 2,328 2,593 2,898
Tangible shareholders’ equity $ 179,869 $ 165,654 $ 160,237 $ 160,930 $ 150,479
Reconciliation of year-end common shareholders’ equity to year-end tangible common shareholders’ equity
Common shareholders’ equity $ 233,932 $ 224,162 $ 219,333 $ 218,188 $ 211,704
Goodwill (69,761) (69,777) (69,844) (69,976) (69,967)
Intangible assets (excluding MSRs) (3,768) (4,612) (5,574) (6,684) (8,021)
Related deferred tax liabilities 1,716 1,960 2,166 2,428 2,702
Tangible common shareholders’ equity $ 162,119 $ 151,733 $ 146,081 $ 143,956 $ 136,418
Reconciliation of year-end shareholders’ equity to year-end tangible shareholders’ equity
Shareholders’ equity $ 256,205 $ 243,471 $ 232,685 $ 236,956 $ 230,101
Goodwill (69,761) (69,777) (69,844) (69,976) (69,967)
Intangible assets (excluding MSRs) (3,768) (4,612) (5,574) (6,684) (8,021)
Related deferred tax liabilities 1,716 1,960 2,166 2,428 2,702
Tangible shareholders’ equity $ 184,392 $ 171,042 $ 159,433 $ 162,724 $ 154,815
Reconciliation of year-end assets to year-end tangible assets
Assets $ 2,144,316 $ 2,104,534 $ 2,102,273 $ 2,209,974 $2,129,046
Goodwill (69,761) (69,777) (69,844) (69,976) (69,967)
Intangible assets (excluding MSRs) (3,768) (4,612) (5,574) (6,684) (8,021)
Related deferred tax liabilities 1,716 1,960 2,166 2,428 2,702
Tangible assets $ 2,072,503 $ 2,032,105 $ 2,029,021 $ 2,135,742 $2,053,760
(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 28.