BAC-04.08.2015 Ex. 99.1

EX-99.1 2 bac-04082015ex991.htm EXHIBIT 99.1 BAC-04.08.2015 Ex. 99.1

Revised Supplemental Information

to Reflect Segment Realignment

Full Years 2014 and 2013

Quarterly Information for 2014

This information is preliminary and based on company data available at the time of this Form 8-K filing. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America does not undertake an obligation to, and disclaims any duty to, update any of the information provided.



Bank of America Corporation and Subsidiaries
Table of Contents	Page


Quarterly Results by Business Segment	2
Annual Results by Business Segment	4
Consumer Banking
Total Segment Results	5
Business Results	6
Key Indicators	10
Global Wealth & Investment Management
Total Segment Results	12
Key Indicators	13
Global Banking
Total Segment Results	14
Key Indicators	15
Global Markets
Total Segment Results	16
Key Indicators	17
Legacy Assets & Servicing
Total Segment Results	18
Key Indicators	19
All Other
Total Results	20
Equity Investments	21
Quarterly Average Loans and Leases by Business Segment	22
Net Charge-offs and Net Charge-off Ratios	24

Exhibit A: Non-GAAP Reconciliations	25

Description of Segment Realignment

From time to time, including in its Annual Report on Form 10-K for the year ended December 31, 2014 (the Annual Report), Bank of America Corporation (the Corporation) has indicated that it may reclassify its business segment results based on, among other things, changes in its organizational alignment. In the Annual Report, the Corporation reported its results of operations through five business segments: Consumer & Business Banking (CBB), Consumer Real Estate Services (CRES), Global Wealth & Investment Management (GWIM), Global Banking and Global Markets, with the remaining operations recorded in All Other. Effective January 1, 2015, to align the segments with how we manage the businesses in 2015, the Corporation changed its basis of presentation, and following such change, reports its results of operations through the following five business segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, Global Markets and Legacy Assets & Servicing (LAS), with the remaining operations recorded in All Other. The Home Loans subsegment, which was included in the former CRES segment, is now included in Consumer Banking, and LAS has become a separate segment. A portion of the Business Banking business, based on the size of the client, was moved from the former CBB segment to Global Banking, and the former CBB segment was renamed Consumer Banking. Also, Bank of America Merchant Services, the Corporation's merchant processing joint venture, moved from the former CBB segment to All Other. In addition, certain management accounting methodologies, including the treatment of intersegment assets and liabilities, and related allocations were refined. Prior periods have been reclassified for comparability.



Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment
(Dollars in millions)
	Fourth Quarter 2014
	Total Corporation			Consumer Banking		GWIM			Global Banking			Global Markets			Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	9,865		$	4,966	$	1,407		$	2,420		$	1,032		$	390		$	(350	)
Noninterest income	9,090			2,793		3,195			1,912			1,338			248			(396		)
Total revenue, net of interest expense (FTE basis)	18,955			7,759		4,602			4,332			2,370			638			(746		)
Provision for credit losses	219			653		14			(31		)	26			(113		)	(330		)
Noninterest expense	14,196			4,409		3,440			2,002			2,500			1,364			481
Income (loss) before income taxes (FTE basis)	4,540			2,697		1,148			2,361			(156		)	(613		)	(897		)
Income tax expense (benefit) (FTE basis)	1,490			1,036		442			850			(84		)	(231		)	(523		)
Net income (loss)	$	3,050		$	1,661	$	706		$	1,511		$	(72	)	$	(382	)	$	(374	)

Average
Total loans and leases	$	884,733		$	199,215	$	123,544		$	287,017		$	58,094		$	33,772		$	183,091
Total assets ⁽¹⁾	2,137,551			582,115		266,716			369,292			611,713			48,557			259,158
Total deposits	1,122,514			517,580		238,835			296,205			n/m			n/m			22,163
Period end
Total loans and leases	$	881,391		$	202,000	$	125,431		$	288,905		$	59,388		$	33,055		$	172,612
Total assets ⁽¹⁾	2,104,534			589,048		274,887			357,081			579,512			45,958			258,048
Total deposits	1,118,936			524,413		245,391			283,191			n/m			n/m			19,242

	Third Quarter 2014
	Total Corporation			Consumer Banking		GWIM			Global Banking			Global Markets			Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	10,444		$	5,081	$	1,459		$	2,455		$	994		$	387		$	68
Noninterest income	10,990			2,668		3,207			1,908			3,148			169			(110		)
Total revenue, net of interest expense (FTE basis)	21,434			7,749		4,666			4,363			4,142			556			(42		)
Provision for credit losses	636			668		(15		)	(64		)	45			267			(265		)
Noninterest expense	20,142			4,447		3,403			2,050			3,335			6,647			260
Income (loss) before income taxes (FTE basis)	656			2,634		1,278			2,377			762			(6,358		)	(37		)
Income tax expense (benefit) (FTE basis)	888			956		465			866			389			(1,245		)	(543		)
Net income (loss)	$	(232	)	$	1,678	$	813		$	1,511		$	373		$	(5,113	)	$	506

Average
Total loans and leases	$	899,241		$	197,374	$	121,002		$	283,284		$	62,939		$	35,238		$	199,404
Total assets ⁽¹⁾	2,136,109			578,927		266,324			368,394			599,884			53,762			268,818
Total deposits	1,127,488			514,549		239,352			295,715			n/m			n/m			29,880
Period end
Total loans and leases	$	891,315		$	198,467	$	122,395		$	284,968		$	62,645		$	34,484		$	188,356
Total assets ⁽¹⁾	2,123,613			580,381		266,240			358,786			598,668			56,900			262,638
Total deposits	1,111,981			515,580		238,710			286,128			n/m			n/m			25,418


⁽¹⁾	Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	2



Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment (continued)
(Dollars in millions)
	Second Quarter 2014
	Total Corporation			Consumer Banking		GWIM			Global Banking		Global Markets		Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	10,226		$	5,060	$	1,485		$	2,446	$	958	$	362		$	(85	)
Noninterest income	11,734			2,589		3,104			2,001		3,632		438			(30		)
Total revenue, net of interest expense (FTE basis)	21,960			7,649		4,589			4,447		4,590		800			(115		)
Provision for credit losses	411			550		(8		)	136		20		(39		)	(248		)
Noninterest expense	18,541			4,505		3,445			2,020		2,861		5,231			479
Income (loss) before income taxes (FTE basis)	3,008			2,594		1,152			2,291		1,709		(4,392		)	(346		)
Income tax expense (benefit) (FTE basis)	717			960		426			849		604		(1,653		)	(469		)
Net income (loss)	$	2,291		$	1,634	$	726		$	1,442	$	1,105	$	(2,739	)	$	123

Average
Total loans and leases	$	912,580		$	195,413	$	118,512		$	287,795	$	63,579	$	36,705		$	210,576
Total assets ⁽¹⁾	2,169,555			578,514		266,781			362,605		617,087		55,626			288,942
Total deposits	1,128,563			514,137		240,042			287,786		n/m		n/m			36,472
Period end
Total loans and leases	$	911,899		$	197,021	$	120,187		$	286,976	$	66,260	$	35,984		$	205,471
Total assets ⁽¹⁾	2,170,557			579,870		263,957			374,376		610,364		52,647			289,343
Total deposits	1,134,329			514,838		237,046			299,188		n/m		n/m			33,824

	First Quarter 2014
	Total Corporation			Consumer Banking		GWIM			Global Banking		Global Markets		Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	10,286		$	5,071	$	1,485		$	2,507	$	1,002	$	377		$	(156	)
Noninterest income	12,481			2,580		3,062			2,028		4,015		309			487
Total revenue, net of interest expense (FTE basis)	22,767			7,651		4,547			4,535		5,017		686			331
Provision for credit losses	1,009			809		23			281		19		12			(135		)
Noninterest expense	22,238			4,495		3,359			2,190		3,075		7,401			1,718
Income (loss) before income taxes (FTE basis)	(480		)	2,347		1,165			2,064		1,923		(6,727		)	(1,252		)
Income tax expense (benefit) (FTE basis)	(204		)	879		436			773		610		(1,847		)	(1,055		)
Net income (loss)	$	(276	)	$	1,468	$	729		$	1,291	$	1,313	$	(4,880	)	$	(197	)

Average
Total loans and leases	$	919,482		$	196,425	$	115,945		$	287,920	$	63,696	$	38,104		$	217,392
Total assets ⁽¹⁾	2,139,266			569,650		270,275			362,264		601,427		57,400			278,250
Total deposits	1,118,178			504,849		242,792			285,594		n/m		n/m			34,982
Period end
Total loans and leases	$	916,217		$	194,676	$	116,482		$	289,645	$	64,598	$	37,401		$	213,415
Total assets ⁽¹⁾	2,149,851			586,472		271,211			359,786		594,792		58,605			278,985
Total deposits	1,133,650			521,453		244,051			286,285		n/m		n/m			34,854


⁽¹⁾	Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	3



Bank of America Corporation and Subsidiaries
Annual Results by Business Segment
(Dollars in millions)
	Year Ended December 31, 2014
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	40,821	$	20,178	$	5,836	$	9,828	$	3,986	$	1,516		$	(523	)
Noninterest income	44,295		10,630		12,568		7,849		12,133		1,164			(49		)
Total revenue, net of interest expense (FTE basis)	85,116		30,808		18,404		17,677		16,119		2,680			(572		)
Provision for credit losses	2,275		2,680		14		322		110		127			(978		)
Noninterest expense	75,117		17,856		13,647		8,262		11,771		20,643			2,938
Income (loss) before income taxes (FTE basis)	7,724		10,272		4,743		9,093		4,238		(18,090		)	(2,532		)
Income tax expense (benefit) (FTE basis)	2,891		3,831		1,769		3,338		1,519		(4,976		)	(2,590		)
Net income (loss)	$	4,833	$	6,441	$	2,974	$	5,755	$	2,719	$	(13,114	)	$	58

Average
Total loans and leases	$	903,901	$	197,115	$	119,775	$	286,493	$	62,064	$	35,941		$	202,513
Total assets ⁽¹⁾	2,145,590		577,340		267,511		365,665		607,535		52,134			275,405
Total deposits	1,124,207		512,818		240,242		291,366		n/m		n/m			30,837
Period end
Total loans and leases	$	881,391	$	202,000	$	125,431	$	288,905	$	59,388	$	33,055		$	172,612
Total assets ⁽¹⁾	2,104,534		589,048		274,887		357,081		579,512		45,958			258,048
Total deposits	1,118,936		524,413		245,391		283,191		n/m		n/m			19,242

	Year Ended December 31, 2013
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	43,124	$	20,620	$	6,064	$	9,704	$	4,224	$	1,541		$	971
Noninterest income	46,677		11,313		11,726		7,800		11,166		2,915			1,757
Total revenue, net of interest expense (FTE basis)	89,801		31,933		17,790		17,504		15,390		4,456			2,728
Provision for credit losses	3,556		3,166		56		1,142		140		(283		)	(665		)
Noninterest expense	69,214		18,911		13,033		8,149		11,995		12,483			4,643
Income (loss) before income taxes (FTE basis)	17,031		9,856		4,701		8,213		3,255		(7,744		)	(1,250		)
Income tax expense (benefit) (FTE basis)	5,600		3,613		1,724		3,013		2,101		(2,839		)	(2,012		)
Net income (loss)	$	11,431	$	6,243	$	2,977	$	5,200	$	1,154	$	(4,905	)	$	762

Average
Total loans and leases	$	918,641	$	196,177	$	111,023	$	273,320	$	60,058	$	42,604		$	235,459
Total assets ⁽¹⁾	2,163,513		556,045		266,047		331,947		632,681		67,129			309,664
Total deposits	1,089,735		489,464		242,161		265,733		n/m		n/m			35,443
Period end
Total loans and leases	$	928,233	$	199,703	$	115,846	$	285,880	$	67,381	$	38,732		$	220,691
Total assets ⁽¹⁾	2,102,273		567,741		271,290		360,789		575,473		59,458			267,522
Total deposits	1,119,271		502,054		244,901		294,559		n/m		n/m			28,165


⁽¹⁾	Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	4



Bank of America Corporation and Subsidiaries
Consumer Banking Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
	2014			2013			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Net interest income (FTE basis)	$	20,178		$	20,620		$	4,966		$	5,081		$	5,060		$	5,071
Noninterest income:
Card income	4,844			4,756			1,325			1,219			1,152			1,148
Service charges	4,160			3,979			1,043			1,085			1,039			993
Mortgage banking income	813			1,916			192			206			237			178
All other income	813			662			233			158			161			261
Total noninterest income	10,630			11,313			2,793			2,668			2,589			2,580
Total revenue, net of interest expense (FTE basis)	30,808			31,933			7,759			7,749			7,649			7,651

Provision for credit losses	2,680			3,166			653			668			550			809

Noninterest expense	17,856			18,911			4,409			4,447			4,505			4,495
Income before income taxes (FTE basis)	10,272			9,856			2,697			2,634			2,594			2,347
Income tax expense (FTE basis)	3,831			3,613			1,036			956			960			879
Net income	$	6,441		$	6,243		$	1,661		$	1,678		$	1,634		$	1,468

Net interest yield (FTE basis)	3.73		%	3.96		%	3.61		%	3.71		%	3.74		%	3.85		%
Return on average allocated capital ⁽¹⁾	21			20			22			22			22			20
Efficiency ratio (FTE basis)	57.96			59.22			56.80			57.40			58.90			58.76

Balance Sheet
Average
Total loans and leases	$	197,115		$	196,177		$	199,215		$	197,374		$	195,413		$	196,425
Total earning assets⁽²⁾	541,225			520,476			545,721			542,858			542,421			533,751
Total assets ⁽²⁾	577,340			556,045			582,115			578,927			578,514			569,650
Total deposits	512,818			489,464			517,580			514,549			514,137			504,849
Allocated capital ⁽¹⁾	30,000			30,700			30,000			30,000			30,000			30,000

Period end
Total loans and leases	$	202,000		$	199,703		$	202,000		$	198,467		$	197,021		$	194,676
Total earning assets⁽²⁾	552,117			531,557			552,117			544,916			543,827			550,413
Total assets ⁽²⁾	589,048			567,741			589,048			580,381			579,870			586,472
Total deposits	524,413			502,054			524,413			515,580			514,838			521,453

⁽¹⁾

Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 25-27.)


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	5



Bank of America Corporation and Subsidiaries
Consumer Banking Annual Results
(Dollars in millions)
	Year Ended December 31, 2014
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	20,178		$	9,437		$	10,741
Noninterest income:
Card income	4,844			10			4,834
Service charges	4,160			4,159			1
Mortgage banking income	813			—			813
All other income	813			415			398
Total noninterest income	10,630			4,584			6,046
Total revenue, net of interest expense (FTE basis)	30,808			14,021			16,787

Provision for credit losses	2,680			268			2,412

Noninterest expense	17,856			9,848			8,008
Income before income taxes (FTE basis)	10,272			3,905			6,367
Income tax expense (FTE basis)	3,831			1,456			2,375
Net income	$	6,441		$	2,449		$	3,992

Net interest yield (FTE basis)	3.73		%	1.83		%	5.54		%
Return on average allocated capital ⁽¹⁾	21			22			21
Efficiency ratio (FTE basis)	57.96			70.24			47.70

Balance Sheet
Average
Total loans and leases	$	197,115		$	6,059		$	191,056
Total earning assets ⁽²⁾	541,225			516,142			193,923
Total assets ⁽²⁾	577,340			542,850			203,330
Total deposits	512,818			511,923			n/m
Allocated capital ⁽¹⁾	30,000			11,000			19,000

Period end
Total loans and leases	$	202,000		$	5,951		$	196,049
Total earning assets ⁽²⁾	552,117			527,045			199,097
Total assets ⁽²⁾	589,048			554,344			208,729
Total deposits	524,413			523,348			n/m

	Year Ended December 31, 2013
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	20,620		$	9,028		$	11,592
Noninterest income:
Card income	4,756			12			4,744
Service charges	3,979			3,978			1
Mortgage banking income	1,916			—			1,916
All other income	662			374			288
Total noninterest income	11,313			4,364			6,949
Total revenue, net of interest expense (FTE basis)	31,933			13,392			18,541

Provision for credit losses	3,166			231			2,935

Noninterest expense	18,911			10,249			8,662
Income before income taxes (FTE basis)	9,856			2,912			6,944
Income tax expense (FTE basis)	3,613			1,066			2,547
Net income	$	6,243		$	1,846		$	4,397

Net interest yield (FTE basis)	3.96		%	1.83		%	5.92		%
Return on average allocated capital ⁽¹⁾	20			18			21
Efficiency ratio (FTE basis)	59.22			76.53			46.72

Balance Sheet
Average
Total loans and leases	$	196,177		$	6,373		$	189,804
Total earning assets ⁽²⁾	520,476			492,555			195,869
Total assets ⁽²⁾	556,045			519,133			204,860
Total deposits	489,464			488,915			n/m
Allocated capital ⁽¹⁾	30,700			10,100			20,600

Period end
Total loans and leases	$	199,703		$	6,166		$	193,537
Total earning assets ⁽²⁾	531,557			504,428			197,987
Total assets ⁽²⁾	567,741			531,290			207,309
Total deposits	502,054			501,220			n/m

For footnotes see page 9.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	6



Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results
(Dollars in millions)
	Fourth Quarter 2014
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	4,966		$	2,312		$	2,654
Noninterest income:
Card income	1,325			3			1,322
Service charges	1,043			1,042			1
Mortgage banking income	192			—			192
All other income	233			120			113
Total noninterest income	2,793			1,165			1,628
Total revenue, net of interest expense (FTE basis)	7,759			3,477			4,282

Provision for credit losses	653			61			592

Noninterest expense	4,409			2,490			1,919
Income before income taxes (FTE basis)	2,697			926			1,771
Income tax expense (FTE basis)	1,036			358			678
Net income	$	1,661		$	568		$	1,093

Net interest yield (FTE basis)	3.61		%	1.76		%	5.38		%
Return on average allocated capital ⁽¹⁾	22			20			23
Efficiency ratio (FTE basis)	56.80			71.58			44.80

Balance Sheet
Average
Total loans and leases	$	199,215		$	5,966		$	193,249
Total earning assets ⁽²⁾	545,721			520,456			195,788
Total assets ⁽²⁾	582,115			547,358			205,280
Total deposits	517,580			516,479			n/m
Allocated capital ⁽¹⁾	30,000			11,000			19,000

Period end
Total loans and leases	$	202,000		$	5,951		$	196,049
Total earning assets ⁽²⁾	552,117			527,045			199,097
Total assets ⁽²⁾	589,048			554,344			208,729
Total deposits	524,413			523,348			n/m

	Third Quarter 2014
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,081		$	2,389		$	2,692
Noninterest income:
Card income	1,219			2			1,217
Service charges	1,085			1,085			—
Mortgage banking income	206			—			206
All other income	158			116			42
Total noninterest income	2,668			1,203			1,465
Total revenue, net of interest expense (FTE basis)	7,749			3,592			4,157

Provision for credit losses	668			93			575

Noninterest expense	4,447			2,420			2,027
Income before income taxes (FTE basis)	2,634			1,079			1,555
Income tax expense (FTE basis)	956			391			565
Net income	$	1,678		$	688		$	990

Net interest yield (FTE basis)	3.71		%	1.83		%	5.51		%
Return on average allocated capital ⁽¹⁾	22			25			21
Efficiency ratio (FTE basis)	57.40			67.41			48.75

Balance Sheet
Average
Total loans and leases	$	197,374		$	6,076		$	191,298
Total earning assets ⁽²⁾	542,858			518,120			193,970
Total assets ⁽²⁾	578,927			544,618			203,541
Total deposits	514,549			513,668			n/m
Allocated capital ⁽¹⁾	30,000			11,000			19,000

Period end
Total loans and leases	$	198,467		$	6,038		$	192,429
Total earning assets ⁽²⁾	544,916			518,862			195,728
Total assets ⁽²⁾	580,381			545,295			204,760
Total deposits	515,580			514,437			n/m

For footnotes see page 9.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	7



Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results (continued)
(Dollars in millions)
	Second Quarter 2014
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,060		$	2,396		$	2,664
Noninterest income:
Card income	1,152			3			1,149
Service charges	1,039			1,039			—
Mortgage banking income	237			—			237
All other income	161			88			73
Total noninterest income	2,589			1,130			1,459
Total revenue, net of interest expense (FTE basis)	7,649			3,526			4,123

Provision for credit losses	550			50			500

Noninterest expense	4,505			2,473			2,032
Income before income taxes (FTE basis)	2,594			1,003			1,591
Income tax expense (FTE basis)	960			371			589
Net income	$	1,634		$	632		$	1,002

Net interest yield (FTE basis)	3.74		%	1.86		%	5.56		%
Return on average allocated capital ⁽¹⁾	22			23			21
Efficiency ratio (FTE basis)	58.90			70.12			49.29

Balance Sheet
Average
Total loans and leases	$	195,413		$	6,103		$	189,310
Total earning assets ⁽²⁾	542,421			517,509			192,238
Total assets ⁽²⁾	578,514			544,248			201,592
Total deposits	514,137			513,326			n/m
Allocated capital ⁽¹⁾	30,000			11,000			19,000

Period end
Total loans and leases	$	197,021		$	6,127		$	190,894
Total earning assets ⁽²⁾	543,827			518,429			194,220
Total assets ⁽²⁾	579,870			544,925			203,767
Total deposits	514,838			513,944			n/m

For footnotes see page 9.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	8



Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results (continued)
(Dollars in millions)
	First Quarter 2014
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,071		$	2,340		$	2,731
Noninterest income:
Card income	1,148			2			1,146
Service charges	993			993			—
Mortgage banking income	178			—			178
All other income	261			91			170
Total noninterest income	2,580			1,086			1,494
Total revenue, net of interest expense (FTE basis)	7,651			3,426			4,225

Provision for credit losses	809			64			745

Noninterest expense	4,495			2,465			2,030
Income before income taxes (FTE basis)	2,347			897			1,450
Income tax expense (FTE basis)	879			336			543
Net income	$	1,468		$	561		$	907

Net interest yield (FTE basis)	3.85		%	1.87		%	5.72		%
Return on average allocated capital ⁽¹⁾	20			21			19
Efficiency ratio (FTE basis)	58.76			71.97			48.05

Balance Sheet
Average
Total loans and leases	$	196,425		$	6,092		$	190,333
Total earning assets ⁽²⁾	533,751			508,332			193,671
Total assets ⁽²⁾	569,650			535,023			202,879
Total deposits	504,849			504,065			n/m
Allocated capital ⁽¹⁾	30,000			11,000			19,000

Period end
Total loans and leases	$	194,676		$	6,110		$	188,566
Total earning assets ⁽²⁾	550,413			524,853			192,570
Total assets ⁽²⁾	586,472			551,609			201,873
Total deposits	521,453			520,580			n/m

⁽¹⁾


⁽²⁾	For presentation purposes, in segments or businesses where the total of liabilities and equity exceeds assets, the Corporation allocates assets from All Other to match the segments' and businesses' liabilities and allocated shareholders' equity. As a result, total earning assets and total assets of the businesses may not equal total Consumer Banking.

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	9



Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
	2014			2013			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Average deposit balances
Checking	$	236,140		$	215,510		$	241,254		$	238,133		$	236,197		$	228,815
Savings	44,616			42,134			43,972			45,124			45,769			43,588
MMS	168,493			157,328			172,992			168,815			167,058			165,016
CDs and IRAs	60,766			71,163			56,476			59,666			62,293			64,731
Non-U.S. and other	2,803			3,329			2,886			2,811			2,820			2,699
Total average deposit balances	$	512,818		$	489,464		$	517,580		$	514,549		$	514,137		$	504,849

Deposit spreads (excludes noninterest costs)
Checking	2.08		%	2.07		%	2.08		%	2.08		%	2.07		%	2.07		%
Savings	2.31			2.21			2.32			2.32			2.31			2.29
MMS	1.18			1.08			1.21			1.19			1.17			1.14
CDs and IRAs	0.50			0.52			0.52			0.50			0.49			0.50
Non-U.S. and other	0.46			1.09			0.40			0.40			0.42			0.65
Total deposit spreads	1.60			1.53			1.63			1.61			1.60			1.57

Client brokerage assets	$	113,763		$	96,048		$	113,763		$	108,533		$	105,926		$	100,206

Online banking active accounts (units in thousands)	30,904			29,950			30,904			30,821			30,429			30,470
Mobile banking active accounts (units in thousands)	16,539			14,395			16,539			16,107			15,475			14,986
Banking centers	4,855			5,151			4,855			4,947			5,023			5,095
ATMs	15,838			16,259			15,838			15,675			15,976			16,214

Total U.S. credit card ⁽¹⁾
Loans
Average credit card outstandings	$	88,962		$	90,369		$	89,381		$	88,866		$	88,058		$	89,545
Ending credit card outstandings	91,879			92,338			91,879			89,026			89,020			87,692
Credit quality
Net charge-offs	$	2,638		$	3,376		$	612		$	625		$	683		$	718
	2.96		%	3.74		%	2.71		%	2.79		%	3.11		%	3.25		%
30+ delinquency	$	1,701		$	2,074		$	1,701		$	1,702		$	1,698		$	1,878
	1.85		%	2.25		%	1.85		%	1.91		%	1.91		%	2.14		%
90+ delinquency	$	866		$	1,053		$	866		$	831		$	868		$	966
	0.94		%	1.14		%	0.94		%	0.93		%	0.98		%	1.10		%
Other Total U.S. credit card indicators ⁽¹⁾
Gross interest yield	9.35		%	9.73		%	9.26		%	9.34		%	9.30		%	9.48		%
Risk adjusted margin	9.44			8.68			9.96			9.33			8.97			9.49
New accounts (in thousands)	4,541			3,911			1,184			1,202			1,128			1,027
Purchase volumes	$	212,088		$	205,914		$	55,858		$	53,784		$	53,583		$	48,863

Debit card data
Purchase volumes	$	272,576		$	267,087		$	69,204		$	67,990		$	69,492		$	65,890

For footnotes see page 11.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	10



Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators (continued)
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
	2014			2013			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Loan production:
Total ⁽²⁾
First mortgage	$	43,290		$	83,421		$	11,616		$	11,725		$	11,099		$	8,850
Home equity	11,233			6,361			3,420			3,225			2,604			1,984
Consumer Banking
First mortgage	$	32,340		$	66,913		$	8,316		$	8,861		$	8,461		$	6,702
Home equity	10,286			5,498			3,129			2,970			2,396			1,791

Mortgage banking income
Consumer Lending:
Core production revenue	$	875		$	2,097		$	214		$	239		$	233		$	189
Representations and warranties provision	10			(104		)	(4		)	(15		)	22			7
Other consumer mortgage banking income ⁽³⁾	(72		)	(77		)	(18		)	(18		)	(18		)	(18		)
Total Consumer Lending mortgage banking income	813			1,916			192			206			237			178
LAS mortgage banking income ⁽⁴⁾	1,053			2,670			241			152			369			291
Eliminations ⁽⁵⁾	(303		)	(712		)	(81		)	(86		)	(79		)	(57		)
Total consolidated mortgage banking income	$	1,563		$	3,874		$	352		$	272		$	527		$	412


⁽¹⁾	In addition to the U.S. credit card portfolio in Consumer Banking, the remaining U.S. credit card portfolio is in GWIM.


⁽²⁾	In addition to loan production in Consumer Banking, the remaining first mortgage and home equity loan production is primarily in GWIM.


⁽³⁾	Primarily intercompany charge for loan servicing from Legacy Assets & Servicing.


⁽⁴⁾	Amounts for Legacy Assets & Servicing are included in this Consumer Banking table to show the components of consolidated mortgage banking income.


⁽⁵⁾	Includes the effect of transfers of mortgage loans from Consumer Banking to the ALM portfolio included in All Other and intercompany charge for loan servicing.

Certain prior period amounts have been reclassified to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	11



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
	2014			2013			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Net interest income (FTE basis)	$	5,836		$	6,064		$	1,407		$	1,459		$	1,485		$	1,485
Noninterest income:
Investment and brokerage services	10,722			9,709			2,763			2,713			2,642			2,604
All other income	1,846			2,017			432			494			462			458
Total noninterest income	12,568			11,726			3,195			3,207			3,104			3,062
Total revenue, net of interest expense (FTE basis)	18,404			17,790			4,602			4,666			4,589			4,547

Provision for credit losses	14			56			14			(15		)	(8		)	23

Noninterest expense	13,647			13,033			3,440			3,403			3,445			3,359
Income before income taxes (FTE basis)	4,743			4,701			1,148			1,278			1,152			1,165
Income tax expense (FTE basis)	1,769			1,724			442			465			426			436
Net income	$	2,974		$	2,977		$	706		$	813		$	726		$	729

Net interest yield (FTE basis)	2.34		%	2.46		%	2.24		%	2.33		%	2.40		%	2.40		%
Return on average allocated capital ⁽¹⁾	25			30			23			27			24			25
Efficiency ratio (FTE basis)	74.15			73.26			74.76			72.94			75.07			73.86

Balance sheet
Average
Total loans and leases	$	119,775		$	111,023		$	123,544		$	121,002		$	118,512		$	115,945
Total earning assets ⁽²⁾	248,979			246,653			248,613			248,223			248,380			250,732
Total assets ⁽²⁾	267,511			266,047			266,716			266,324			266,781			270,275
Total deposits	240,242			242,161			238,835			239,352			240,042			242,792
Allocated capital ⁽¹⁾	12,000			10,000			12,000			12,000			12,000			12,000

Period end
Total loans and leases	$	125,431		$	115,846		$	125,431		$	122,395		$	120,187		$	116,482
Total earning assets ⁽²⁾	256,519			251,209			256,519			248,072			245,555			251,779
Total assets ⁽²⁾	274,887			271,290			274,887			266,240			263,957			271,211
Total deposits	245,391			244,901			245,391			238,710			237,046			244,051

⁽¹⁾


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	12



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Key Indicators
(Dollars in millions, except as noted)
	Year Ended December 31				Fourth Quarter 2014			Third Quarter 2014		Second Quarter 2014		First Quarter 2014
	2014		2013		Fourth Quarter 2014			Third Quarter 2014		Second Quarter 2014		First Quarter 2014
Revenues
Merrill Lynch Global Wealth Management	$	15,256	$	14,771	$	3,827		$	3,874	$	3,791	$	3,764
U.S. Trust	3,084		2,953		758			775		783		768
Other ⁽¹⁾	64		66		17			17		15		15
Total revenues	$	18,404	$	17,790	$	4,602		$	4,666	$	4,589	$	4,547

Client Balances
Client Balances by Business
Merrill Lynch Global Wealth Management	$	2,033,801	$	1,916,803	$	2,033,801		$	2,004,391	$	2,017,051	$	1,946,922
U.S. Trust	387,491		376,487		387,491			381,054		380,281		378,177
Other ⁽¹⁾	76,705		73,148		76,705			76,640		70,836		70,720

Client Balances by Type
Assets under management	$	902,872	$	821,449	$	902,872		$	888,006	$	878,741	$	841,818
Brokerage assets	1,081,434		1,045,122		1,081,434			1,073,858		1,091,558		1,054,052
Assets in custody	139,555		136,190		139,555			135,886		137,391		136,342
Deposits	245,391		244,901		245,391			238,710		237,046		244,051
Loans and leases ⁽²⁾	128,745		118,776		128,745			125,625		123,432		119,556
Total client balances	$	2,497,997	$	2,366,438	$	2,497,997		$	2,462,085	$	2,468,168	$	2,395,819

Assets Under Management Flows
Liquidity assets under management ⁽³⁾	$	3,361	$	6,502	$	(255	)	$	5,910	$	135	$	(2,429	)
Long-term assets under management ⁽⁴⁾	49,800		47,819		9,380			11,168		11,870		17,382
Total assets under management flows	$	53,161	$	54,321	$	9,125		$	17,078	$	12,005	$	14,953

Associates ⁽⁵⁾
Number of Financial Advisors	16,035		15,317		16,035			15,867		15,560		15,323
Total Wealth Advisors	17,231		16,517		17,231			17,039		16,721		16,481
Total Client Facing Professionals	19,750		19,217		19,750			19,727		19,416		19,199

Merrill Lynch Global Wealth Management Metrics
Financial Advisor Productivity ⁽⁶⁾ (in thousands)	$	1,065	$	1,005	$	1,070		$	1,077	$	1,060	$	1,056

U.S. Trust Metrics
Client Facing Professionals	2,155		2,091		2,155			2,135		2,110		2,117


⁽¹⁾	Other includes the results of BofA Global Capital Management and other administrative items.


⁽²⁾	Includes margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet.


⁽³⁾	Defined as assets under advisory and discretion of GWIM in which the investment strategy seeks a high level of income while maintaining liquidity and capital preservation. The duration of these strategies is primarily less than one year.


⁽⁴⁾	Defined as assets under advisory and discretion of GWIM in which the duration of the investment strategy is longer than one year.


⁽⁵⁾	Includes Financial Advisors in the Consumer Banking segment of 1,950, 1,868, 1,716, 1,598 and 1,545 at December 31, 2014, September 30, 2014, June 30, 2014, March 31, 2014 and December 31, 2013, respectively.


⁽⁶⁾	Financial Advisor Productivity is defined as annualized Merrill Lynch Global Wealth Management total revenue divided by the total number of Financial Advisors (excluding Financial Advisors in the Consumer Banking segment). Total revenue excludes corporate allocation of net interest income related to certain ALM activities.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	13



Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
	2014			2013
Net interest income (FTE basis)	$	9,828		$	9,704		$	2,420		$	2,455		$	2,446		$	2,507
Noninterest income:
Service charges	2,900			2,967			712			730			725			733
Investment banking fees	3,213			3,234			830			727			834			822
All other income	1,736			1,599			370			451			442			473
Total noninterest income	7,849			7,800			1,912			1,908			2,001			2,028
Total revenue, net of interest expense (FTE basis)	17,677			17,504			4,332			4,363			4,447			4,535

Provision for credit losses	322			1,142			(31		)	(64		)	136			281

Noninterest expense	8,262			8,149			2,002			2,050			2,020			2,190
Income before income taxes (FTE basis)	9,093			8,213			2,361			2,377			2,291			2,064
Income tax expense (FTE basis)	3,338			3,013			850			866			849			773
Net income	$	5,755		$	5,200		$	1,511		$	1,511		$	1,442		$	1,291

Net interest yield (FTE basis)	3.07		%	3.38		%	2.96		%	3.00		%	3.10		%	3.23		%
Return on average allocated capital ⁽¹⁾	17			20			18			18			17			16
Efficiency ratio (FTE basis)	46.74			46.56			46.20			46.97			45.43			48.30

Balance Sheet
Average
Total loans and leases	$	286,493		$	273,320		$	287,017		$	283,284		$	287,795		$	287,920
Total earnings assets ⁽²⁾	320,194			287,228			324,388			324,688			316,860			314,685
Total assets ⁽²⁾	365,665			331,947			369,292			368,394			362,605			362,264
Total deposits	291,366			265,733			296,205			295,715			287,786			285,594
Allocated capital ⁽¹⁾	33,500			25,400			33,500			33,500			33,500			33,500

Period end
Total loans and leases	$	288,905		$	285,880		$	288,905		$	284,968		$	286,976		$	289,645
Total earnings assets ⁽²⁾	311,782			316,349			311,782			314,727			328,370			314,565
Total assets ⁽²⁾	357,081			360,789			357,081			358,786			374,376			359,786
Total deposits	283,191			294,559			283,191			286,128			299,188			286,285

⁽¹⁾


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	14



Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
	2014			2013			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Investment Banking fees ⁽¹⁾
Advisory ⁽²⁾	$	1,098		$	1,019		$	316		$	291		$	234		$	257
Debt issuance	1,532			1,620			379			318			388			447
Equity issuance	583			595			135			118			212			118
Total Investment Banking fees⁽³⁾	$	3,213		$	3,234		$	830		$	727		$	834		$	822

Business Lending
Corporate	$	3,420		$	3,432		$	800		$	878		$	830		$	912
Commercial	3,942			3,967			991			934			1,006			1,011
Business Banking	364			320			92			91			92			89
Total Business Lending revenue	$	7,726		$	7,719		$	1,883		$	1,903		$	1,928		$	2,012

Global Transaction Services
Corporate	$	3,028		$	2,804		$	755		$	776		$	761		$	736
Commercial	2,887			2,939			710			727			717			733
Business Banking	714			705			182			179			176			177
Total Global Transaction Services revenue	$	6,629		$	6,448		$	1,647		$	1,682		$	1,654		$	1,646

Average deposit balances
Interest-bearing	$	80,630		$	78,648		$	73,504		$	81,218		$	84,123		$	83,782
Noninterest-bearing	210,736			187,085			222,701			214,497			203,663			201,812
Total average deposits	$	291,366		$	265,733		$	296,205		$	295,715		$	287,786		$	285,594

Loan spread	1.73		%	1.80		%	1.69		%	1.70		%	1.72		%	1.80		%

Provision for credit losses	$	322		$	1,142		$	(31	)	$	(64	)	$	136		$	281

Credit quality ^{(4, 5)}
Reservable utilized criticized exposure	$	9,662		$	10,889		$	9,662		$	10,314		$	10,788		$	10,965
	3.07		%	3.49		%	3.07		%	3.32		%	3.46		%	3.48		%

Nonperforming loans, leases and foreclosed properties	$	892		$	1,019		$	892		$	1,080		$	1,023		$	1,009
	0.31		%	0.36		%	0.31		%	0.38		%	0.36		%	0.35		%

Average loans and leases by product
U.S. commercial	$	151,772		$	143,566		$	153,256		$	150,918		$	151,923		$	150,971
Commercial real estate	43,194			39,228			41,445			41,818			44,437			45,132
Commercial lease financing	25,205			24,760			25,105			25,127			25,165			25,427
Non-U.S. commercial	66,304			65,747			67,192			65,401			66,250			66,371
Other	18			19			19			20			20			19
Total average loans and leases	$	286,493		$	273,320		$	287,017		$	283,284		$	287,795		$	287,920

Total Corporation Investment Banking fees
Advisory ⁽²⁾	$	1,207		$	1,125		$	341		$	316		$	264		$	286
Debt issuance	3,583			3,804			883			784			891			1,025
Equity issuance	1,490			1,472			348			315			514			313
Total investment banking fees including self-led deals	6,280			6,401			1,572			1,415			1,669			1,624
Self-led deals	(215		)	(275		)	(31		)	(64		)	(38		)	(82		)
Total Investment Banking fees	$	6,065		$	6,126		$	1,541		$	1,351		$	1,631		$	1,542


⁽¹⁾	Investment banking fees represent total investment banking fees for Global Banking inclusive of self-led deals and fees included within Business Lending.


⁽²⁾	Advisory includes fees on debt and equity advisory and mergers and acquisitions.


⁽³⁾	Investment banking fees represent only the fee component of Global Banking and do not include certain less significant items shared with the Investment Banking Group under internal revenue sharing agreements.

⁽⁴⁾

Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure is on an end-of-period basis and is also shown as a percentage of total commercial utilized reservable criticized exposure, including loans and leases, standby letters of credit, financial guarantees, commercial letters of credit and bankers' acceptances.


⁽⁵⁾	Nonperforming loans, leases and foreclosed properties are on an end-of-period basis. The nonperforming ratio is nonperforming assets divided by loans, leases and foreclosed properties.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	15



Bank of America Corporation and Subsidiaries
Global Markets Segment Results ⁽¹⁾
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
	2014			2013			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Net interest income (FTE basis)	$	3,986		$	4,224		$	1,032		$	994		$	958		$	1,002
Noninterest income:
Investment and brokerage services	2,163			2,046			540			522			540			561
Investment banking fees	2,743			2,724			670			577			760			736
Trading account profits	5,997			6,734			76			1,786			1,768			2,367
All other income (loss)	1,230			(338		)	52			263			564			351
Total noninterest income	12,133			11,166			1,338			3,148			3,632			4,015
Total revenue, net of interest expense (FTE basis) ⁽²⁾	16,119			15,390			2,370			4,142			4,590			5,017

Provision for credit losses	110			140			26			45			20			19

Noninterest expense	11,771			11,995			2,500			3,335			2,861			3,075
Income (loss) before income taxes (FTE basis)	4,238			3,255			(156		)	762			1,709			1,923
Income tax expense (benefit) (FTE basis)	1,519			2,101			(84		)	389			604			610
Net income (loss)	$	2,719		$	1,154		$	(72	)	$	373		$	1,105		$	1,313

Return on average allocated capital ⁽³⁾	8		%	4		%	n/m			4		%	13		%	16		%
Efficiency ratio (FTE basis)	73.03			77.94			105.48		%	80.51			62.34			61.30

Balance Sheet
Average
Total trading-related assets ⁽⁴⁾	$	449,814		$	468,934		$	455,535		$	446,490		$	459,938		$	437,128
Total loans and leases	62,064			60,058			58,094			62,939			63,579			63,696
Total earning assets⁽⁴⁾	461,179			481,433			451,922			457,814			478,191			456,879
Total assets	607,535			632,681			611,713			599,884			617,087			601,427
Allocated capital ⁽³⁾	34,000			30,000			34,000			34,000			34,000			34,000

Period end
Total trading-related assets ⁽⁴⁾	$	418,860		$	411,080		$	418,860		$	433,597		$	443,383		$	430,894
Total loans and leases	59,388			67,381			59,388			62,645			66,260			64,598
Total earning assets ⁽⁴⁾	421,799			432,807			421,799			443,363			465,380			455,103
Total assets	579,512			575,473			579,512			598,668			610,364			594,792

Trading-related assets (average)
Trading account securities	$	201,955		$	215,885		$	201,867		$	201,963		$	200,725		$	203,281
Reverse repurchases	116,085			137,670			118,286			116,853			119,823			109,271
Securities borrowed	85,098			65,532			81,071			83,369			94,989			80,981
Derivative assets	46,676			49,847			54,311			44,305			44,401			43,595
Total trading-related assets ⁽⁴⁾	$	449,814		$	468,934		$	455,535		$	446,490		$	459,938		$	437,128

⁽¹⁾

In 2014, the results for structured liabilities including debit valuation adjustment were moved into Global Markets from All Other to better align the performance and risk management of these instruments. As such, net debit valuation adjustment in Global Markets represents the combined total of net debit valuation adjustment on derivatives and structured liabilities. Prior periods have been reclassified to conform to current period presentation.


⁽²⁾	Substantially all of Global Markets total revenue is sales and trading revenue and investment banking fees, with a small portion related to certain revenue sharing agreements with other business segments. For additional sales and trading revenue information, see page 17.

⁽³⁾


⁽⁴⁾	Trading-related assets include derivative assets, which are considered non-earning assets.

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	16



Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	Year Ended December 31					Fourth Quarter 2014		Third Quarter 2014		Second Quarter 2014		First Quarter 2014
	2014		2013			Fourth Quarter 2014		Third Quarter 2014		Second Quarter 2014		First Quarter 2014
Sales and trading revenue ⁽¹⁾
Fixed income, currency and commodities	$	8,706	$	8,231		$	879	$	2,381	$	2,422	$	3,024
Equities	4,215		4,180			862		1,105		1,055		1,193
Total sales and trading revenue	$	12,921	$	12,411		$	1,741	$	3,486	$	3,477	$	4,217

Sales and trading revenue, excluding debit valuation adjustment and funding valuation adjustment ⁽²⁾
Fixed income, currency and commodities	$	9,013	$	9,345		$	1,456	$	2,247	$	2,366	$	2,944
Equities	4,148		4,224			911		1,034		1,042		1,161
Total sales and trading revenue, excluding debit valuation adjustment and funding valuation adjustment	$	13,161	$	13,569		$	2,367	$	3,281	$	3,408	$	4,105

Sales and trading revenue breakdown
Net interest income	$	3,643	$	3,891		$	943	$	914	$	872	$	914
Commissions	2,163		2,046			540		522		540		561
Trading	5,997		6,734			76		1,786		1,768		2,367
Other	1,118		(260		)	182		264		297		375
Total sales and trading revenue	$	12,921	$	12,411		$	1,741	$	3,486	$	3,477	$	4,217


⁽¹⁾	Includes Global Banking sales and trading revenue of $382 million and $385 million for the years ended December 31, 2014 and 2013; $162 million, $68 million, $67 million and $85 million for the fourth, third, second and first quarters of 2014, respectively.

⁽²⁾

For this presentation, sales and trading revenue excludes net debit valuation adjustment gains (losses) which include net debit valuation adjustment on derivatives and structured liabilities. Sales and trading revenue excluding net debit valuation adjustment gains (losses) represents a non-GAAP financial measure. In the fourth quarter of 2014, the Corporation adopted a funding valuation adjustment on uncollateralized derivatives in the Corporation's Global Markets business. This methodology seeks to account for the value of funding costs today rather than accruing the cost over the life of the derivatives. The adoption resulted in a one-time transitional charge of $497 million recorded in the fourth quarter of 2014.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	17



Bank of America Corporation and Subsidiaries
Legacy Assets & Servicing Segment Results
(Dollars in millions; except as noted)
	Year Ended December 31						Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
	2014			2013			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Net interest income (FTE basis)	$	1,516		$	1,541		$	390		$	387		$	362		$	377
Noninterest income:
Mortgage banking income	1,053			2,670			241			152			369			291
All other income	111			245			7			17			69			18
Total noninterest income	1,164			2,915			248			169			438			309
Total revenue, net of interest expense (FTE basis)	2,680			4,456			638			556			800			686

Provision for credit losses	127			(283		)	(113		)	267			(39		)	12

Noninterest expense	20,643			12,483			1,364			6,647			5,231			7,401
Loss before income taxes (FTE basis)	(18,090		)	(7,744		)	(613		)	(6,358		)	(4,392		)	(6,727		)
Income tax benefit (FTE basis)	(4,976		)	(2,839		)	(231		)	(1,245		)	(1,653		)	(1,847		)
Net loss	$	(13,114	)	$	(4,905	)	$	(382	)	$	(5,113	)	$	(2,739	)	$	(4,880	)

Net interest yield (FTE basis)	4.03		%	3.19		%	4.23		%	3.78		%	3.65		%	3.82		%

Balance Sheet
Average
Total loans and leases	$	35,941		$	42,604		$	33,772		$	35,238		$	36,705		$	38,104
Total earning assets	37,593			48,272			36,581			40,636			39,863			40,026
Total assets	52,134			67,129			48,557			53,762			55,626			57,400
Allocated capital ⁽¹⁾	17,000			18,000			17,000			17,000			17,000			17,000

Period end
Total loans and leases	$	33,055		$	38,732		$	33,055		$	34,484		$	35,984		$	37,401
Total earning assets	33,923			43,092			33,923			44,916			37,233			39,141
Total assets	45,958			59,458			45,958			56,900			52,647			58,605

Period end (in billions)
Mortgage servicing portfolio ⁽²⁾	$	693.0		$	810.0		$	693.0		$	722.0		$	760.0		$	780.0


⁽¹⁾	Allocated capital is a non-GAAP financial measure. The Corporation believes the use of this non-GAAP financial measure provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 25-27.)


⁽²⁾	Includes servicing of residential mortgage loans, home equity lines of credit and home equity loans.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	18



Bank of America Corporation and Subsidiaries
Legacy Assets & Servicing Key Indicators
(Dollars in millions, except as noted)
	Year Ended December 31								Fourth Quarter 2014				Third Quarter 2014				Second Quarter 2014				First Quarter 2014
	2014				2013				Fourth Quarter 2014				Third Quarter 2014				Second Quarter 2014				First Quarter 2014
Mortgage servicing rights at fair value rollforward:
Balance, beginning of period	$	5,042			$	5,716			$	3,986			$	4,134			$	4,577			$	5,042
Net additions (sales)	275				(1,572		)		73				140				32				30
Amortization of expected cash flows ⁽¹⁾	(818		)		(1,043		)		(198		)		(201		)		(209		)		(210		)
Other changes in mortgage servicing rights fair value ⁽²⁾	(1,228		)		1,941				(590		)		(87		)		(266		)		(285		)
Balance, end of period ⁽³⁾	$	3,271			$	5,042			$	3,271			$	3,986			$	4,134			$	4,577

Capitalized mortgage servicing rights (% of loans serviced for investors)	69			bps	92			bps	69			bps	81			bps	82			bps	87			bps
Mortgage loans serviced for investors (in billions)	$	474			$	550			$	474			$	491			$	505			$	527

Mortgage banking income
Servicing income:
Servicing fees	$	1,957			$	3,105			$	461			$	471			$	492			$	533
Amortization of expected cash flows ⁽¹⁾	(818		)		(1,043		)		(198		)		(201		)		(209		)		(210		)
Fair value changes of mortgage servicing rights, net of risk management activities used to hedge certain market risks ⁽⁴⁾	294				867				142				(19		)		105				66
Other servicing-related revenue	8				30				—				—				4				4
Total net servicing income	1,441				2,959				405				251				392				393
Representations and warranties provision	(693		)		(736		)		(246		)		(152		)		(110		)		(185		)
Other mortgage banking income ⁽⁵⁾	305				447				82				53				87				83
Total Legacy Assets & Servicing mortgage banking income	$	1,053			$	2,670			$	241			$	152			$	369			$	291


⁽¹⁾	Represents the net change in fair value of the MSR asset due to the recognition of modeled cash flows.

⁽²⁾

These amounts reflect the changes in modeled mortgage servicing rights fair value primarily due to observed changes in interest rates, volatility, spreads and the shape of the forward swap curve. In addition, these amounts reflect periodic adjustments to the valuation model to reflect changes in the modeled relationship between inputs and their impact on projected cash flows, changes in certain cash flow assumptions such as cost to service and ancillary income per loan, changes in option-adjusted spread rate assumptions and the impact of periodic recalibrations of the model to reflect changes in the relationship between market interest rate spreads and projected cash flows.


⁽³⁾	Does not include certain non-U.S. residential mortgage MSR balances, which are recorded in Global Markets.


⁽⁴⁾	Includes gains and losses on sales of mortgage servicing rights.


⁽⁵⁾	Consists primarily of revenue from sales of loans that had returned to performing status.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	19



Bank of America Corporation and Subsidiaries
All Other Results ⁽¹⁾
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
	2014			2013			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Net interest income (FTE basis)	$	(523	)	$	971		$	(350	)	$	68		$	(85	)	$	(156	)
Noninterest income:
Card income	356			329			89			92			88			87
Equity investment income	729			2,737			(36		)	(26		)	95			696
Gains on sales of debt securities	1,310			1,231			161			410			382			357
All other loss	(2,444		)	(2,540		)	(610		)	(586		)	(595		)	(653		)
Total noninterest income	(49		)	1,757			(396		)	(110		)	(30		)	487
Total revenue, net of interest expense (FTE basis)	(572		)	2,728			(746		)	(42		)	(115		)	331

Provision for credit losses	(978		)	(665		)	(330		)	(265		)	(248		)	(135		)

Noninterest expense	2,938			4,643			481			260			479			1,718
Loss before income taxes (FTE basis)	(2,532		)	(1,250		)	(897		)	(37		)	(346		)	(1,252		)
Income tax benefit (FTE basis)	(2,590		)	(2,012		)	(523		)	(543		)	(469		)	(1,055		)
Net income (loss)	$	58		$	762		$	(374	)	$	506		$	123		$	(197	)

Balance Sheet
Average
Total loans and leases	$	202,513		$	235,459		$	183,091		$	199,404		$	210,576		$	217,392
Total assets ⁽²⁾	275,405			309,664			259,158			268,818			288,942			278,250
Total deposits	30,837			35,443			22,163			29,880			36,472			34,982

Period end
Total loans and leases	$	172,612		$	220,691		$	172,612		$	188,356		$	205,471		$	213,415
Total assets ⁽³⁾	258,048			267,522			258,048			262,638			289,343			278,985
Total deposits	19,242			28,165			19,242			25,418			33,824			34,854

⁽¹⁾

All Other consists of ALM activities, equity investments, the international consumer card business, liquidating businesses, residual expense allocations and other. ALM activities encompass the whole-loan residential mortgage portfolio and investment securities, interest rate and foreign currency risk management activities including the residual net interest income allocation, the impact of certain allocation methodologies and accounting hedge ineffectiveness. Additionally, All Other includes certain residential mortgage loans that are managed by Legacy Assets & Servicing. The results of certain ALM activities are allocated to our business segments. Equity investments include Global Principal Investments which is comprised of a portfolio of equity, real estate and other alternative investments. These investments are made either directly in a company or held through a fund with related income recorded in equity investment income. Equity investments also include the results of our merchant services joint venture. In 2014, the management of structured liabilities and the associated debit valuation adjustment (previously referred to as fair value adjustments on structured liabilities) were moved into Global Markets from All Other to better align the performance risk of these instruments. Prior periods have been reclassified to conform to current period presentation.


⁽²⁾	Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $483.7 billion and $448.9 billion for the years ended December 31, 2014 and 2013; $485.1 billion, $489.8 billion, $483.6 billion and $476.3 billion for the fourth, third, second and first quarters of 2014, respectively.


⁽³⁾	Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $478.2 billion, $477.5 billion, $490.4 billion and $492.1 billion at December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014, respectively.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	20



Bank of America Corporation and Subsidiaries
Equity Investments
(Dollars in millions)
	Equity Investments Exposures
	December 31, 2014						September 30 2014		June 30 2014		March 31 2014
	Book Value		Unfunded Commitments		Total		Total
Equity Investments
Global Principal Investments	$	913	$	31	$	944	$	1,045	$	1,190	$	1,369
Strategic and other investments	3,973		6		3,979		4,010		4,007		4,065
Total Equity Investments	$	4,886	$	37	$	4,923	$	5,055	$	5,197	$	5,434



Components of Equity Investment Income
(Dollars in millions)
	Year Ended December 31					Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014		First Quarter 2014
	2014			2013		Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014		First Quarter 2014
Global Principal Investments	$	(46	)	$	379	$	(52	)	$	(37	)	$	71	$	(28	)
Strategic and other investments	775			2,358		16			11			24		724
Total equity investment income (loss) included in All Other	729			2,737		(36		)	(26		)	95		696
Total equity investment income included in the business segments	401			164		16			35			262		88
Total consolidated equity investment income (loss)	$	1,130		$	2,901	$	(20	)	$	9		$	357	$	784

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	21



Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment
(Dollars in millions)
	Fourth Quarter 2014
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		Legacy Assets & Servicing		All Other
Consumer
Residential mortgage	$	223,132	$	9,306	$	50,537	$	7	$	—	$	931	$	162,351
Home equity	86,825		45,804		6,276		5		189		32,813		1,738
U.S. credit card	89,381		86,193		3,188		—		—		—		—
Non-U.S. credit card	10,950		—		—		—		—		—		10,950
Direct/Indirect consumer	83,121		39,541		39,694		5		14		—		3,867
Other consumer	2,031		1,113		8		2		—		—		908
Total consumer	495,440		181,957		99,703		19		203		33,744		179,814

Commercial
U.S. commercial	231,215		17,228		21,824		153,256		34,426		28		4,453
Commercial real estate	46,996		30		1,875		41,445		3,446		—		200
Commercial lease financing	24,238		—		4		25,105		552		—		(1,423		)
Non-U.S. commercial	86,844		—		138		67,192		19,467		—		47
Total commercial	389,293		17,258		23,841		286,998		57,891		28		3,277
Total loans and leases	$	884,733	$	199,215	$	123,544	$	287,017	$	58,094	$	33,772	$	183,091

	Third Quarter 2014
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		Legacy Assets & Servicing		All Other
Consumer
Residential mortgage	$	235,272	$	7,523	$	49,610	$	6	$	—	$	950	$	177,183
Home equity	88,590		46,093		6,412		9		165		34,258		1,653
U.S. credit card	88,866		85,674		3,192		—		—		—		—
Non-U.S. credit card	11,784		—		—		—		—		—		11,784
Direct/Indirect consumer	82,669		39,763		38,555		4		17		—		4,330
Other consumer	2,110		1,042		5		1		—		—		1,062
Total consumer	509,291		180,095		97,774		20		182		35,208		196,012

Commercial
U.S. commercial	230,891		17,248		21,283		150,918		36,894		30		4,518
Commercial real estate	46,069		31		1,796		41,818		2,201		—		223
Commercial lease financing	24,325		—		4		25,127		644		—		(1,450		)
Non-U.S. commercial	88,665		—		145		65,401		23,018		—		101
Total commercial	389,950		17,279		23,228		283,264		62,757		30		3,392
Total loans and leases	$	899,241	$	197,374	$	121,002	$	283,284	$	62,939	$	35,238	$	199,404

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	22



Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment (continued)
(Dollars in millions)
	Second Quarter 2014
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		Legacy Assets & Servicing		All Other
Consumer
Residential mortgage	$	243,406	$	5,731	$	48,855	$	6	$	—	$	961	$	187,853
Home equity	90,729		46,676		6,578		8		160		35,710		1,597
U.S. credit card	88,058		84,849		3,209		—		—		—		—
Non-U.S. credit card	11,759		—		—		—		—		—		11,759
Direct/Indirect consumer	82,102		40,069		37,348		5		12		—		4,668
Other consumer	2,011		889		9		1		—		—		1,112
Total consumer	518,065		178,214		95,999		20		172		36,671		206,989

Commercial
U.S. commercial	230,486		17,169		20,688		151,923		35,906		34		4,766
Commercial real estate	48,315		30		1,672		44,437		1,937		—		239
Commercial lease financing	24,409		—		4		25,165		743		—		(1,503		)
Non-U.S. commercial	91,305		—		149		66,250		24,821		—		85
Total commercial	394,515		17,199		22,513		287,775		63,407		34		3,587
Total loans and leases	$	912,580	$	195,413	$	118,512	$	287,795	$	63,579	$	36,705	$	210,576

	First Quarter 2014
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		Legacy Assets & Servicing		All Other
Consumer
Residential mortgage	$	247,560	$	4,364	$	48,236	$	8	$	—	$	963	$	193,989
Home equity	92,755		47,262		6,696		5		168		37,094		1,530
U.S. credit card	89,545		86,270		3,260		—		—		—		15
Non-U.S. credit card	11,554		—		—		—		—		—		11,554
Direct/Indirect consumer	81,728		40,800		35,800		4		45		—		5,079
Other consumer	1,962		791		4		2		—		—		1,165
Total consumer	525,104		179,487		93,996		19		213		38,057		213,332

Commercial
U.S. commercial	228,059		16,910		20,095		150,971		34,719		47		5,317
Commercial real estate	48,753		28		1,698		45,132		1,625		—		270
Commercial lease financing	24,727		—		4		25,427		836		—		(1,540		)
Non-U.S. commercial	92,839		—		152		66,371		26,303		—		13
Total commercial	394,378		16,938		21,949		287,901		63,483		47		4,060
Total loans and leases	$	919,482	$	196,425	$	115,945	$	287,920	$	63,696	$	38,104	$	217,392

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	23



Bank of America Corporation and Subsidiaries
Net Charge-offs and Net Charge-off Ratios
(Dollars in millions)
	Year Ended December 31								Fourth Quarter 2014					Third Quarter 2014				Second Quarter 2014					First Quarter 2014
	2014				2013				Fourth Quarter 2014					Third Quarter 2014				Second Quarter 2014					First Quarter 2014
Net Charge-offs	Amount		Percent		Amount		Percent		Amount			Percent		Amount		Percent		Amount			Percent		Amount			Percent
Consumer Banking	$	3,497	1.77	%	$	4,636	2.36	%	$	832		1.66	%	$	815	1.64	%	$	894		1.83	%	$	956		1.97	%
Global Wealth & Investment Management	71		0.06		173		0.16		36			0.12		6		0.02		4			0.01		25			0.09
Global Banking	31		0.01		247		0.09		2			—		52		0.07		(8		)	(0.01	)	(15		)	(0.02	)
Global Markets	2		—		2		—		—			—		—		—		3			0.02		(1		)	(0.01	)
Legacy Assets & Servicing	627		1.79		1,383		3.33		199			2.40		42		0.48		169			1.90		217			2.37
All Other	155		0.08		1,456		0.62		(190		)	(0.41	)	128		0.26		11			0.02		206			0.39
Total net charge-offs	$	4,383	0.49		$	7,897	0.87		$	879		0.40		$	1,043	0.46		$	1,073		0.48		$	1,388		0.62

Certain prior period amounts have been reclassified to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	24



Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)

The Corporation evaluates its business based on a fully taxable-equivalent basis, a non-GAAP financial measure. The Corporation believes managing the business with net interest income on a fully taxable-equivalent basis provides a more accurate picture of the interest margin for comparative purposes. Total revenue, net of interest expense, includes net interest income on a fully taxable-equivalent basis and noninterest income. The Corporation views related ratios and analyses (i.e., efficiency ratios and net interest yield) on a fully taxable-equivalent basis. To derive the fully taxable-equivalent basis, net interest income is adjusted to reflect tax-exempt income on an equivalent before-tax basis with a corresponding increase in income tax expense. For purposes of this calculation, the Corporation uses the federal statutory tax rate of 35 percent. This measure ensures comparability of net interest income arising from taxable and tax-exempt sources. The efficiency ratio measures the costs expended to generate a dollar of revenue, and net interest yield measures the basis points the Corporation earns over the cost of funds.

In addition, the Corporation evaluates its business segment results based on measures that utilize average allocated capital. The Corporation allocates capital to its business segments using a methodology that considers the effect of regulatory capital requirements in addition to internal risk-based capital models. The Corporation's internal risk-based capital models use a risk-adjusted methodology incorporating each segment's credit, market, interest rate, business and operational risk components. Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return both represent non-GAAP financial measures. Allocated capital is reviewed periodically and refinements are made based on multiple considerations that include, but are not limited to, business segment exposures and risk profile, regulatory constraints and strategic plans. As part of this process, in the first quarter of 2014, the Corporation adjusted the amount of capital being allocated to its business segments. This change resulted in a reduction of the unallocated capital, which is reflected in All Other, and an aggregate increase to the amount of capital being allocated to the business segments. Prior periods were not restated.

See the tables below and on pages 26-27 for reconciliations of these non-GAAP financial measures to financial measures defined by GAAP for the years ended December 31, 2014 and 2013, and the three months ended December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate supplemental financial data differently.



	Year Ended December 31				Fourth Quarter 2014		Third Quarter 2014		Second Quarter 2014		First Quarter 2014
	2014		2013		Fourth Quarter 2014		Third Quarter 2014		Second Quarter 2014		First Quarter 2014

Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income	$	39,952	$	42,265	$	9,635	$	10,219	$	10,013	$	10,085
Fully taxable-equivalent adjustment	869		859		230		225		213		201
Net interest income on a fully taxable-equivalent basis	$	40,821	$	43,124	$	9,865	$	10,444	$	10,226	$	10,286

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	$	84,247	$	88,942	$	18,725	$	21,209	$	21,747	$	22,566
Fully taxable-equivalent adjustment	869		859		230		225		213		201
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	85,116	$	89,801	$	18,955	$	21,434	$	21,960	$	22,767

Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent basis
Income tax expense (benefit)	$	2,022	$	4,741	$	1,260	$	663	$	504	$	(405	)
Fully taxable-equivalent adjustment	869		859		230		225		213		201
Income tax expense (benefit) on a fully taxable-equivalent basis	$	2,891	$	5,600	$	1,490	$	888	$	717	$	(204	)

Certain prior period amounts have been reclassified to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	25



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
	2014			2013			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Reconciliation of return on average allocated capital ⁽¹⁾

Consumer Banking
Reported net income	$	6,441		$	6,243		$	1,661		$	1,678		$	1,634		$	1,468
Adjustment related to intangibles ⁽²⁾	4			7			1			1			1			1
Adjusted net income	$	6,445		$	6,250		$	1,662		$	1,679		$	1,635		$	1,469

Average allocated equity ⁽³⁾	$	60,393		$	61,179		$	60,367		$	60,386		$	60,403		$	60,417
Adjustment related to goodwill and a percentage of intangibles	(30,393		)	(30,479		)	(30,367		)	(30,386		)	(30,403		)	(30,417		)
Average allocated capital	$	30,000		$	30,700		$	30,000		$	30,000		$	30,000		$	30,000

Global Wealth & Investment Management
Reported net income	$	2,974		$	2,977		$	706		$	813		$	726		$	729
Adjustment related to intangibles ⁽²⁾	13			16			4			3			3			3
Adjusted net income	$	2,987		$	2,993		$	710		$	816		$	729		$	732

Average allocated equity ⁽³⁾	$	22,214		$	20,292		$	22,186		$	22,204		$	22,222		$	22,243
Adjustment related to goodwill and a percentage of intangibles	(10,214		)	(10,292		)	(10,186		)	(10,204		)	(10,222		)	(10,243		)
Average allocated capital	$	12,000		$	10,000		$	12,000		$	12,000		$	12,000		$	12,000

Global Banking
Reported net income	$	5,755		$	5,200		$	1,511		$	1,511		$	1,442		$	1,291
Adjustment related to intangibles ⁽²⁾	2			3			—			1			—			1
Adjusted net income	$	5,757		$	5,203		$	1,511		$	1,512		$	1,442		$	1,292

Average allocated equity ⁽³⁾	$	57,450		$	49,358		$	57,446		$	57,449		$	57,451		$	57,453
Adjustment related to goodwill and a percentage of intangibles	(23,950		)	(23,958		)	(23,946		)	(23,949		)	(23,951		)	(23,953		)
Average allocated capital	$	33,500		$	25,400		$	33,500		$	33,500		$	33,500		$	33,500

Global Markets
Reported net income (loss)	$	2,719		$	1,154		$	(72	)	$	373		$	1,105		$	1,313
Adjustment related to intangibles ⁽²⁾	9			9			3			2			2			2
Adjusted net income (loss)	$	2,728		$	1,163		$	(69	)	$	375		$	1,107		$	1,315

Average allocated equity ⁽³⁾	$	39,374		$	35,370		$	39,369		$	39,374		$	39,376		$	39,377
Adjustment related to goodwill and a percentage of intangibles	(5,374		)	(5,370		)	(5,369		)	(5,374		)	(5,376		)	(5,377		)
Average allocated capital	$	34,000		$	30,000		$	34,000		$	34,000		$	34,000		$	34,000

For footnotes see page 27.

Certain prior period amounts have been reclassified to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	26



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
	2014			2013			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Consumer Banking

Deposits
Reported net income	$	2,449		$	1,846		$	568		$	688		$	632		$	561
Adjustment related to intangibles ⁽²⁾	—			1			—			—			—			—
Adjusted net income	$	2,449		$	1,847		$	568		$	688		$	632		$	561

Average allocated equity ⁽³⁾	$	29,427		$	28,535		$	29,426		$	29,428		$	29,428		$	29,425
Adjustment related to goodwill and a percentage of intangibles	(18,427		)	(18,435		)	(18,426		)	(18,428		)	(18,428		)	(18,425		)
Average allocated capital	$	11,000		$	10,100		$	11,000		$	11,000		$	11,000		$	11,000

Consumer Lending
Reported net income	$	3,992		$	4,397		$	1,093		$	990		$	1,002		$	907
Adjustment related to intangibles ⁽²⁾	4			7			1			1			1			1
Adjusted net income	$	3,996		$	4,404		$	1,094		$	991		$	1,003		$	908

Average allocated equity ⁽³⁾	$	30,966		$	32,644		$	30,941		$	30,958		$	30,975		$	30,993
Adjustment related to goodwill and a percentage of intangibles	(11,966		)	(12,044		)	(11,941		)	(11,958		)	(11,975		)	(11,993		)
Average allocated capital	$	19,000		$	20,600		$	19,000		$	19,000		$	19,000		$	19,000


⁽¹⁾	There are no adjustments to reported net income (loss) or average allocated equity for Legacy Assets & Servicing.


⁽²⁾	Represents cost of funds, earnings credits and certain expenses related to intangibles.


⁽³⁾	Average allocated equity is comprised of average allocated capital plus capital for the portion of goodwill and intangibles specifically assigned to the business segment.

Certain prior period amounts have been reclassified to conform to current period presentation.



This segment information is preliminary and based on company data available at the time of this filing.	27