BANK OF AMERICA CORP /DE/

Our significant accounting principles are essential in understanding the MD&A. Many of our significant accounting principles require complex judgments to estimate the values of assets and liabilities. We have procedures and processes in place to facilitate making these judgments. For more information, see Critical Accounting Estimates in the MD&A of the Corporation’s 2025 Annual Report on Form 10-K and Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2025 Annual Report on Form 10-K.

Goodwill and Intangible Assets

The nature of and accounting for goodwill and intangible assets are discussed in Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2025 Annual Report on Form 10-K and Note 7 – Goodwill and Intangible Assets to the Consolidated Financial Statements. As of June 30, 2026, goodwill recorded on our consolidated balance sheet was as follows.

We completed our annual goodwill impairment test as of June 30, 2026 using a qualitative assessment. In performing the assessment, we considered various factors, including macroeconomic conditions and outlook, industry and market considerations, financial performance and other relevant reporting unit-specific factors. Based on this evaluation, we concluded that it was not more likely than not that the fair value of any reporting unit was less than its carrying value. Accordingly, no reporting unit was considered at risk of impairment, and no further testing was required.