Bank of America (BAC) FY2021 results: revenue $89.1 billion, up 4.2% on the year
Bank of America Corp. (BAC) reported revenue of $89.1 billion for fiscal 2021, the year ended 31 December 2021, up 4.2% on the year before. Net income was $32.0 billion, up 78.7%, and diluted earnings per share $3.57. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2022.
Revenue
$89.1 billion
+4.2% on the year
FY2014FY2021
Operating margin
n/a
FY2014FY2021
Net income
$32.0 billion
+78.7% on the year
FY2014FY2021
Diluted EPS
$3.57
+90.9% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
-7,193
37,993
61,777
Cash from investing
-313,291
-177,665
-80,630
Cash from financing
291,650
355,819
3,377
-18.0%
Depreciation and amortisation
1,898
1,843
1,729
+3.0%
Share-based compensation
2,768
2,031
1,974
+36.3%
Buybacks
25,126
7,025
28,144
+257.7%
Dividends paid
8,055
7,727
5,934
+4.2%
Dividend per share
$0.78
$0.72
$0.66
+8.3%
Diluted shares, weighted
8,558m
8,797m
9,443m
-2.7%
Shares outstanding at period end
8,078m
8,651m
8,836m
-6.6%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
270,066
272,924
264,810
-1.0%
Deposits
2,064,446
1,795,480
1,434,803
+15.0%
Repurchase agreements
192,329
170,323
165,109
+12.9%
Trading liabilities
100,690
71,320
83,270
+41.2%
Debt
496,199
452,578
430,169
+9.6%
Other liabilities
45,765
57,002
55,918
-19.7%
Total liabilities and equity
3,169,495
2,819,627
2,434,079
+12.4%
Fixed assets
10,833
11,000
10,561
-1.5%
Goodwill
69,022
68,951
68,951
+0.1%
Intangible assets
2,200
2,200
1,700
0.0%
Securities held for sale or to maturity
973,769
672,770
461,369
+44.7%
Loans
966,737
n/a
974,010
Resale agreements
250,720
304,058
274,597
-17.5%
Trading assets
247,080
198,854
229,826
+24.3%
Cash and equivalents
348,221
380,463
161,560
-8.5%
Other assets
300,913
1,181,331
251,505
-74.5%
Total assets
3,169,495
2,819,627
2,434,079
+12.4%
10-K for the year ended 31 December 2021, filed 22 February 2022: the filing.