Bank of America (BAC) FY2022 results: revenue $95.0 billion, up 6.6% on the year
Bank of America Corp. (BAC) reported revenue of $95.0 billion for fiscal 2022, the year ended 31 December 2022, up 6.6% on the year before. Net income was $27.5 billion, down 13.9%, and diluted earnings per share $3.19. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2023.
Revenue
$95.0 billion
+6.6% on the year
FY2015FY2022
Operating margin
n/a
FY2015FY2022
Net income
$27.5 billion
-13.9% on the year
FY2015FY2022
Diluted EPS
$3.19
-10.6% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
-6,327
-7,193
37,993
Cash from investing
-2,529
-313,291
-177,665
Cash from financing
-106,039
291,650
355,819
Depreciation and amortisation
1,978
1,898
1,843
+4.2%
Share-based compensation
2,862
2,768
2,031
+3.4%
Buybacks
5,073
25,126
7,025
-79.8%
Dividends paid
8,576
8,055
7,727
+6.5%
Dividend per share
$0.86
$0.78
$0.72
+10.3%
Diluted shares, weighted
8,168m
8,558m
8,797m
-4.6%
Shares outstanding at period end
7,997m
8,078m
8,651m
-1.0%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
273,197
270,066
272,924
+1.2%
Deposits
1,930,341
2,064,446
1,795,480
-6.5%
Repurchase agreements
195,635
192,329
170,323
+1.7%
Trading liabilities
80,399
100,690
71,320
-20.2%
Debt
498,549
496,199
452,578
+0.5%
Other liabilities
73,254
45,765
57,002
+60.1%
Total liabilities and equity
3,051,375
3,169,495
2,819,627
-3.7%
Fixed assets
11,510
10,833
11,000
+6.2%
Goodwill
69,022
69,022
68,951
0.0%
Intangible assets
2,100
2,200
2,200
-4.5%
Securities held for sale or to maturity
853,613
973,769
672,770
-12.3%
Loans
1,033,065
966,737
n/a
+6.9%
Resale agreements
267,574
250,720
304,058
+6.7%
Trading assets
296,108
247,080
198,854
+19.8%
Cash and equivalents
230,203
348,221
380,463
-33.9%
Other assets
288,180
300,913
1,181,331
-4.2%
Total assets
3,051,375
3,169,495
2,819,627
-3.7%
10-K for the year ended 31 December 2022, filed 22 February 2023: the filing.