Bank of America (BAC) FY2012 results: revenue $83.3 billion, down 10.8% on the year
Bank of America Corp. (BAC) reported revenue of $83.3 billion for fiscal 2012, the year ended 31 December 2012, down 10.8% on the year before. Net income was $4.2 billion, up 189.6%, and diluted earnings per share $0.25. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2013.
Revenue
$83.3 billion
-10.8% on the year
FY2007FY2012
Operating margin
n/a
FY2007FY2012
Net income
$4.2 billion
+189.6% on the year
FY2007FY2012
Diluted EPS
$0.25
+2,400.0% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
83,334
93,454
110,220
-10.8%
Interest expense
16,744
21,620
23,974
-22.6%
Pre-tax income
3,072
-230
-1,323
Income tax
-1,116
-1,676
915
Effective tax rate
-36.3%
n/a
n/a
Net income
4,188
1,446
-2,238
+189.6%
Net margin
5.0%
1.5%
-2.0%
Diluted EPS
$0.25
$0.01
-$0.37
+2,400.0%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
-16,056
64,490
82,594
Capital expenditure
n/a
1,307
987
Free cash flow
n/a
63,183
81,607
Cash from investing
-34,979
52,429
-30,347
Cash from financing
42,416
-104,696
-65,387
Share-based compensation
2,270
2,600
2,000
-12.7%
Buybacks
0.0
n/a
n/a
Dividends paid
1,909
1,738
1,762
+9.8%
Dividend per share
$0.04
$0.04
$0.04
0.0%
Diluted shares, weighted
10,841m
10,255m
9,790m
+5.7%
Shares outstanding at period end
10,778m
10,536m
10,085m
+2.3%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
236,956
230,101
228,248
+3.0%
Deposits
1,105,261
1,033,041
1,010,430
+7.0%
Trading liabilities
73,587
60,508
71,985
+21.6%
Debt
599,575
622,827
753,752
-3.7%
Other liabilities
194,595
182,569
200,494
+6.6%
Total liabilities and equity
2,209,974
2,129,046
2,264,909
+3.8%
Fixed assets
11,858
13,637
14,306
-13.0%
Goodwill
69,976
69,967
73,861
+0.0%
Intangible assets
6,684
8,021
9,923
-16.7%
Securities held for sale or to maturity
360,331
311,416
338,054
+15.7%
Loans
883,640
892,417
898,555
-1.0%
Trading assets
227,775
169,319
194,671
+34.5%
Cash and equivalents
110,752
120,102
108,427
-7.8%
Other assets
538,958
544,167
627,112
-1.0%
Total assets
2,209,974
2,129,046
2,264,909
+3.8%
10-K for the year ended 31 December 2012, filed 28 February 2013: the filing.