BANK OF AMERICA CORP DE
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 20, 2024
BAC$50.68+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statement of Income Consolidated Statement of Comprehensive Income
| Consolidated Statement of Income | |||
|---|---|---|---|
| (In millions, except per share information) | 2023 | 2022 | 2021 |
| Net interest income | |||
| Interest income | $130,262 | $72,565 | $47,672 |
| Interest expense | 73,331 | 20,103 | 4,738 |
| Net interest income | 56,931 | 52,462 | 42,934 |
| Noninterest income | |||
| Fees and commissions | 32,009 | 33,212 | 39,299 |
| Market making and similar activities | 12,732 | 12,075 | 8,691 |
| Other income | (3,091) | (2,799) | (1,811) |
| Total noninterest income | 41,650 | 42,488 | 46,179 |
| Total revenue, net of interest expense | 98,581 | 94,950 | 89,113 |
| Provision for credit losses | 4,394 | 2,543 | (4,594) |
| Noninterest expense | |||
| Compensation and benefits | 38,330 | 36,447 | 36,140 |
| Occupancy and equipment | 7,164 | 7,071 | 7,138 |
| Information processing and communications | 6,707 | 6,279 | 5,769 |
| Product delivery and transaction related | 3,608 | 3,653 | 3,881 |
| Professional fees | 2,159 | 2,142 | 1,775 |
| Marketing | 1,927 | 1,825 | 1,939 |
| Other general operating | 5,950 | 4,021 | 3,089 |
| Total noninterest expense | 65,845 | 61,438 | 59,731 |
| Income before income taxes | 28,342 | 30,969 | 33,976 |
| Income tax expense | 1,827 | 3,441 | 1,998 |
| Net income | $26,515 | $27,528 | $31,978 |
| Preferred stock dividends and other | 1,649 | 1,513 | 1,421 |
| Net income applicable to common shareholders | $24,866 | $26,015 | $30,557 |
| Per common share information | |||
| Earnings | $3.10 | $3.21 | $3.60 |
| Diluted earnings | 3.08 | 3.19 | 3.57 |
| Average common shares issued and outstanding | 8,028.6 | 8,113.7 | 8,493.3 |
| Average diluted common shares issued and outstanding | 8,080.5 | 8,167.5 | 8,558.4 |
| Consolidated Statement of Comprehensive Income | |||
|---|---|---|---|
| (Dollars in millions) | 2023 | 2022 | 2021 |
| Net income | $26,515 | $27,528 | $31,978 |
| Other comprehensive income (loss), net-of-tax: | |||
| Net change in debt securities | 573 | (6,028) | (2,077) |
| Net change in debit valuation adjustments | (686) | 755 | 356 |
| Net change in derivatives | 3,919 | (10,055) | (2,306) |
| Employee benefit plan adjustments | (439) | (667) | 624 |
| Net change in foreign currency translation adjustments | 1 | (57) | (45) |
| Other comprehensive income (loss) | 3,368 | (16,052) | (3,448) |
| Comprehensive income (loss) | $29,883 | $11,476 | $28,530 |
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