Bank of America (BAC) FY2017 results: revenue $87.1 billion, up 4.1% on the year
Bank of America Corp. (BAC) reported revenue of $87.1 billion for fiscal 2017, the year ended 31 December 2017, up 4.1% on the year before. Net income was $18.2 billion, up 2.3%, and diluted earnings per share $1.56. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$87.1 billion
+4.1% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$18.2 billion
+2.3% on the year
FY2010FY2017
Diluted EPS
$1.56
+4.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
87,126
83,701
82,965
+4.1%
Interest expense
12,340
9,961
10,549
+23.9%
Pre-tax income
29,213
25,021
22,154
+16.8%
Income tax
10,981
7,199
6,266
+52.5%
Effective tax rate
37.6%
28.8%
28.3%
Net income
18,232
17,822
15,888
+2.3%
Net margin
20.9%
21.3%
19.2%
Diluted EPS
$1.56
$1.50
$1.31
+4.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
9,864
17,277
n/a
-42.9%
Cash from investing
-51,541
-62,285
n/a
Cash from financing
49,268
33,153
n/a
+48.6%
Depreciation and amortisation
2,103
n/a
n/a
Share-based compensation
1,649
1,367
-89.0
+20.6%
Buybacks
12,814
5,112
2,374
+150.7%
Dividends paid
5,700
4,194
3,574
+35.9%
Dividend per share
$0.39
$0.25
$0.20
+56.0%
Diluted shares, weighted
10,778m
11,036m
11,214m
-2.3%
Shares outstanding at period end
10,287m
10,053m
10,380m
+2.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
267,146
266,195
255,615
+0.4%
Deposits
1,309,545
1,260,934
1,197,259
+3.9%
Repurchase agreements
176,865
170,291
174,291
+3.9%
Trading liabilities
81,187
63,031
66,963
+28.8%
Debt
436,933
411,058
439,153
+6.3%
Other liabilities
9,558
16,193
11,035
-41.0%
Total liabilities and equity
2,281,234
2,187,702
2,144,316
+4.3%
Fixed assets
9,247
9,139
9,485
+1.2%
Goodwill
68,951
68,969
69,761
-0.0%
Intangible assets
2,312
2,922
3,768
-20.9%
Securities held for sale or to maturity
427,644
117,071
390,398
+265.3%
Loans
926,356
895,446
884,749
+3.5%
Resale agreements
212,747
198,224
192,482
+7.3%
Trading assets
209,358
180,209
176,527
+16.2%
Cash and equivalents
157,434
147,738
159,353
+6.6%
Other assets
267,185
567,984
257,793
-53.0%
Total assets
2,281,234
2,187,702
2,144,316
+4.3%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.