Bank of America (BAC) FY2016 results: revenue $83.7 billion, up 0.9% on the year
Bank of America Corp. (BAC) reported revenue of $83.7 billion for fiscal 2016, the year ended 31 December 2016, up 0.9% on the year before. Net income was $17.8 billion, up 12.2%, and diluted earnings per share $1.50. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2017.
Revenue
$83.7 billion
+0.9% on the year
FY2009FY2016
Operating margin
n/a
FY2009FY2016
Net income
$17.8 billion
+12.2% on the year
FY2009FY2016
Diluted EPS
$1.50
+14.5% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
83,701
82,965
85,894
+0.9%
Interest expense
9,961
10,549
10,934
-5.6%
Pre-tax income
25,021
22,154
7,963
+12.9%
Income tax
7,199
6,266
2,443
+14.9%
Effective tax rate
28.8%
28.3%
30.7%
Net income
17,822
15,888
5,520
+12.2%
Net margin
21.3%
19.2%
6.4%
Diluted EPS
$1.50
$1.31
$0.36
+14.5%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
17,277
n/a
n/a
Capital expenditure
n/a
n/a
1,160
Cash from investing
-62,285
n/a
n/a
Cash from financing
33,153
n/a
n/a
Share-based compensation
1,367
-89.0
78.0
Buybacks
5,112
2,374
1,675
+115.3%
Dividends paid
4,194
3,574
2,306
+17.3%
Dividend per share
$0.25
$0.20
$0.12
+25.0%
Diluted shares, weighted
11,036m
11,214m
10,585m
-1.6%
Shares outstanding at period end
10,053m
10,380m
10,517m
-3.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
266,195
255,615
243,471
+4.1%
Deposits
1,260,934
1,197,259
1,118,936
+5.3%
Repurchase agreements
170,291
174,291
201,277
-2.3%
Trading liabilities
63,031
66,963
74,192
-5.9%
Debt
411,058
439,153
475,588
-6.4%
Other liabilities
16,193
11,035
n/a
+46.7%
Total liabilities and equity
2,187,702
2,144,316
2,104,534
+2.0%
Fixed assets
9,139
9,485
10,049
-3.6%
Goodwill
68,969
69,761
69,777
-1.1%
Intangible assets
2,922
3,768
4,612
-22.5%
Securities held for sale or to maturity
117,071
390,398
344,040
-70.0%
Loans
895,446
884,749
861,685
+1.2%
Resale agreements
198,224
192,482
191,823
+3.0%
Trading assets
180,209
176,527
191,785
+2.1%
Cash and equivalents
147,738
159,353
138,589
-7.3%
Other assets
567,984
257,793
292,174
+120.3%
Total assets
2,187,702
2,144,316
2,104,534
+2.0%
10-K for the year ended 31 December 2016, filed 23 February 2017: the filing.