Bank of America (BAC) FY2015 results: revenue $83.0 billion, down 3.4% on the year
Bank of America Corp. (BAC) reported revenue of $83.0 billion for fiscal 2015, the year ended 31 December 2015, down 3.4% on the year before. Net income was $15.9 billion, up 187.8%, and diluted earnings per share $1.31. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2016.
Revenue
$83.0 billion
-3.4% on the year
FY2008FY2015
Operating margin
n/a
FY2008FY2015
Net income
$15.9 billion
+187.8% on the year
FY2008FY2015
Diluted EPS
$1.31
+263.9% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
82,965
85,894
87,502
-3.4%
Interest expense
10,549
10,934
12,755
-3.5%
Pre-tax income
22,154
7,963
14,733
+178.2%
Income tax
6,266
2,443
4,194
+156.5%
Effective tax rate
28.3%
30.7%
28.5%
Net income
15,888
5,520
10,539
+187.8%
Net margin
19.2%
6.4%
12.0%
Diluted EPS
$1.31
$0.36
$0.90
+263.9%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
n/a
n/a
92,817
Capital expenditure
n/a
1,160
521
Free cash flow
n/a
n/a
92,296
Cash from investing
n/a
n/a
25,058
Cash from financing
n/a
n/a
-95,442
Share-based compensation
-89.0
78.0
363
Buybacks
2,374
1,675
3,220
+41.7%
Dividends paid
3,574
2,306
1,677
+55.0%
Dividend per share
$0.20
$0.12
$0.04
+66.7%
Diluted shares, weighted
11,214m
10,585m
11,491m
+5.9%
Shares outstanding at period end
10,380m
10,517m
10,592m
-1.3%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
255,615
243,471
232,685
+5.0%
Deposits
1,197,259
1,118,936
1,119,271
+7.0%
Repurchase agreements
174,291
201,277
198,106
-13.4%
Trading liabilities
66,963
74,192
83,469
-9.7%
Debt
439,153
475,588
493,779
-7.7%
Other liabilities
11,035
n/a
n/a
Total liabilities and equity
2,144,316
2,104,534
2,102,273
+1.9%
Fixed assets
9,485
10,049
10,475
-5.6%
Goodwill
69,761
69,777
69,844
-0.0%
Intangible assets
3,768
4,612
5,574
-18.3%
Securities held for sale or to maturity
390,398
344,040
291,101
+13.5%
Loans
884,749
861,685
910,805
+2.7%
Resale agreements
192,482
191,823
190,328
+0.3%
Trading assets
176,527
191,785
200,993
-8.0%
Cash and equivalents
159,353
138,589
131,322
+15.0%
Other assets
257,793
292,174
291,831
-11.8%
Total assets
2,144,316
2,104,534
2,102,273
+1.9%
10-K for the year ended 31 December 2015, filed 24 February 2016: the filing.