Bank of America (BAC) FY2011 results: revenue $93.5 billion, down 15.2% on the year
Bank of America Corp. (BAC) reported revenue of $93.5 billion for fiscal 2011, the year ended 31 December 2011, down 15.2% on the year before. Net income was $1.4 billion, and diluted earnings per share $0.01. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2012.
Revenue
$93.5 billion
-15.2% on the year
FY2007FY2011
Operating margin
n/a
FY2007FY2011
Net income
$1.4 billion
FY2007FY2011
Diluted EPS
$0.01
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
93,454
110,220
119,643
-15.2%
Interest expense
21,620
23,974
30,807
-9.8%
Pre-tax income
-230
-1,323
4,360
Income tax
-1,676
915
-1,916
Effective tax rate
n/a
n/a
-43.9%
Net income
1,446
-2,238
6,276
Net margin
1.5%
-2.0%
5.2%
Diluted EPS
$0.01
-$0.37
-$0.29
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
64,490
82,594
129,731
-21.9%
Capital expenditure
1,307
987
2,240
+32.4%
Free cash flow
63,183
81,607
127,491
-22.6%
Cash from investing
52,429
-30,347
157,925
Cash from financing
-104,696
-65,387
-199,568
Share-based compensation
2,600
2,000
2,400
+30.0%
Buybacks
n/a
n/a
0.0
Dividends paid
1,738
1,762
4,863
-1.4%
Dividend per share
$0.04
$0.04
$0.04
0.0%
Diluted shares, weighted
10,255m
9,790m
7,729m
+4.7%
Shares outstanding at period end
10,536m
10,085m
8,650m
+4.5%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
230,101
228,248
231,444
+0.8%
Deposits
1,033,041
1,010,430
991,611
+2.2%
Trading liabilities
60,508
71,985
65,432
-15.9%
Short-term borrowings
n/a
n/a
91,660
Debt
622,827
753,752
522,877
-17.4%
Other liabilities
182,569
200,494
427,647
-8.9%
Total liabilities and equity
2,129,046
2,264,909
2,330,671
-6.0%
Fixed assets
13,637
14,306
15,500
-4.7%
Goodwill
69,967
73,861
86,314
-5.3%
Intangible assets
8,021
9,923
12,026
-19.2%
Securities held for sale or to maturity
311,416
338,054
302,549
-7.9%
Loans
892,417
898,555
954,735
-0.7%
Trading assets
169,319
194,671
189,143
-13.0%
Cash and equivalents
120,102
108,427
121,339
+10.8%
Other assets
544,167
627,112
649,065
-13.2%
Total assets
2,129,046
2,264,909
2,330,671
-6.0%
10-K for the year ended 31 December 2011, filed 23 February 2012: the filing.