Bank of America 8K Results of Operations and Financial Condition | BAC 14 Oct 15

Supplemental Information

Third Quarter 2015

This information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in Bank of America’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which are available at the SEC’s website (www.sec.gov) or at Bank of America’s website (www.bankofamerica.com). Bank of America’s future financial performance is subject to risks and uncertainties as described in its SEC filings.




Bank of America Corporation and Subsidiaries
Table of Contents	Page


Consolidated Financial Highlights	2
Supplemental Financial Data	3
Consolidated Statement of Income	4
Consolidated Statement of Comprehensive Income	5
Consolidated Balance Sheet	6
Capital Management	8
Regulatory Capital Reconciliations	9
Net Interest Income Excluding Trading-related Net Interest Income	10
Quarterly Average Balances and Interest Rates	11
Year-to-Date Average Balances and Interest Rates	13
Debt Securities and Available-for-Sale Marketable Equity Securities	15
Quarterly Results by Business Segment	16
Year-to-Date Results by Business Segment	18
Consumer Banking
Total Segment Results	19
Business Results	20
Key Indicators	23
Global Wealth & Investment Management
Total Segment Results	25
Key Indicators	26
Global Banking
Total Segment Results	27
Key Indicators	28
Investment Banking Product Rankings	29
Global Markets
Total Segment Results	30
Key Indicators	31
Legacy Assets & Servicing
Total Segment Results	32
Key Indicators	33
All Other
Total Results	34
Outstanding Loans and Leases	35
Quarterly Average Loans and Leases by Business Segment	36
Commercial Credit Exposure by Industry	37
Net Credit Default Protection by Maturity Profile and Credit Exposure Debt Rating	38
Top 20 Non-U.S. Countries Exposure	39
Nonperforming Loans, Leases and Foreclosed Properties	40
Nonperforming Loans, Leases and Foreclosed Properties Activity	41
Quarterly Net Charge-offs and Net Charge-off Ratios	42
Year-to-Date Net Charge-offs and Net Charge-off Ratios	43
Allocation of the Allowance for Credit Losses by Product Type	44

Exhibit A: Non-GAAP Reconciliations	45



Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(Dollars in millions, except per share information; shares in thousands)
	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Income statement
Net interest income	$	29,450		$	30,317		$	9,511		$	10,488		$	9,451		$	9,635		$	10,219
Noninterest income	34,551			35,205			11,171			11,629			11,751			9,090			10,990
Total revenue, net of interest expense	64,001			65,522			20,682			22,117			21,202			18,725			21,209
Provision for credit losses	2,351			2,056			806			780			765			219			636
Noninterest expense	43,320			60,921			13,807			13,818			15,695			14,196			20,142
Income tax expense	5,145			762			1,561			2,199			1,385			1,260			663
Net income (loss)	13,185			1,783			4,508			5,320			3,357			3,050			(232		)
Preferred stock dividends	1,153			732			441			330			382			312			238
Net income (loss) applicable to common shareholders	12,032			1,051			4,067			4,990			2,975			2,738			(470		)
Diluted earnings (loss) per common share ⁽¹⁾	1.09			0.10			0.37			0.45			0.27			0.25			(0.04		)
Average diluted common shares issued and outstanding ⁽¹⁾	11,234,125			10,587,841			11,197,203			11,238,060			11,266,511			11,273,773			10,515,790
Dividends paid per common share	$	0.15		$	0.07		$	0.05		$	0.05		$	0.05		$	0.05		$	0.05

Performance ratios
Return on average assets	0.82		%	0.11		%	0.82		%	0.99		%	0.64		%	0.57		%	n/m
Return on average common shareholders' equity	7.04			0.63			6.97			8.75			5.35			4.84			n/m
Return on average tangible common shareholders' equity ⁽²⁾	10.29			0.94			10.11			12.78			7.88			7.15			n/m
Return on average tangible shareholders' equity ⁽²⁾	9.90			1.45			9.84			11.93			7.85			7.08			n/m


At period end
Book value per share of common stock	$	22.41		$	20.99		$	22.41		$	21.91		$	21.66		$	21.32		$	20.99
Tangible book value per share of common stock ⁽²⁾	15.50			14.09			15.50			15.02			14.79			14.43			14.09
Market price per share of common stock:
Closing price	$	15.58		$	17.05		$	15.58		$	17.02		$	15.39		$	17.89		$	17.05
High closing price for the period	18.45			17.92			18.45			17.67			17.90			18.13			17.18
Low closing price for the period	15.15			14.51			15.26			15.41			15.15			15.76			14.98
Market capitalization	162,457			179,296			162,457			178,231			161,909			188,141			179,296

Number of financial centers - U.S.	4,741			4,947			4,741			4,789			4,835			4,855			4,947
Number of branded ATMs - U.S.	16,062			15,671			16,062			15,992			15,903			15,834			15,671
Full-time equivalent employees	215,193			229,538			215,193			216,679			219,658			223,715			229,538


⁽¹⁾	The diluted earnings (loss) per common share excludes the effect of any equity instruments that are antidilutive to earnings per share. There were no potential common shares that were dilutive in the third quarter of 2014 because of the net loss applicable to common shareholders.

⁽²⁾

Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate non-GAAP financial measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-48.)

n/m = not meaningful

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	2



Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions)

Fully taxable-equivalent (FTE) basis data ⁽¹⁾

	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Net interest income	$	30,128		$	30,956		$	9,742		$	10,716		$	9,670		$	9,865		$	10,444
Total revenue, net of interest expense	64,679			66,161			20,913			22,345			21,421			18,955			21,434
Net interest yield	2.21		%	2.27		%	2.10		%	2.37		%	2.17		%	2.18		%	2.29		%
Efficiency ratio	66.98			92.08			66.03			61.84			73.27			74.90			93.97


⁽¹⁾	FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-48.)

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	3



Bank of America Corporation and Subsidiaries
Consolidated Statement of Income
(Dollars in millions, except per share information; shares in thousands)
	Nine Months Ended September 30				Third Quarter 2015			Second Quarter 2015		First Quarter 2015		Fourth Quarter 2014			Third Quarter 2014
	2015		2014
Interest income
Loans and leases	$	24,019	$	25,930	$	8,005		$	7,978	$	8,036	$	8,377		$	8,535
Debt securities	6,796		6,346		1,839			3,070		1,887		1,675			2,225
Federal funds sold and securities borrowed or purchased under agreements to resell	774		801		275			268		231		238			239
Trading account assets	3,291		3,463		1,134			1,074		1,083		1,098			1,111
Other interest income	2,222		2,194		754			742		726		764			748
Total interest income	37,102		38,734		12,007			13,132		11,963		12,152			12,858

Interest expense
Deposits	650		843		214			216		220		237			270
Short-term borrowings	1,868		1,963		597			686		585		615			591
Trading account liabilities	1,071		1,225		342			335		394		351			392
Long-term debt	4,063		4,386		1,343			1,407		1,313		1,314			1,386
Total interest expense	7,652		8,417		2,496			2,644		2,512		2,517			2,639
Net interest income	29,450		30,317		9,511			10,488		9,451		9,635			10,219

Noninterest income
Card income	4,381		4,334		1,510			1,477		1,394		1,610			1,500
Service charges	5,519		5,599		1,898			1,857		1,764		1,844			1,907
Investment and brokerage services	10,101		9,887		3,336			3,387		3,378		3,397			3,327
Investment banking income	4,300		4,524		1,287			1,526		1,487		1,541			1,351
Equity investment income (loss)	84		1,150		(31		)	88		27		(20		)	9
Trading account profits	5,510		6,198		1,616			1,647		2,247		111			1,899
Mortgage banking income	2,102		1,211		407			1,001		694		352			272
Gains on sales of debt securities	821		1,191		385			168		268		163			432
Other income	1,733		1,111		763			478		492		92			293
Total noninterest income	34,551		35,205		11,171			11,629		11,751		9,090			10,990
Total revenue, net of interest expense	64,001		65,522		20,682			22,117		21,202		18,725			21,209

Provision for credit losses	2,351		2,056		806			780		765		219			636

Noninterest expense
Personnel	25,333		26,094		7,829			7,890		9,614		7,693			8,039
Occupancy	3,082		3,264		1,028			1,027		1,027		996			1,070
Equipment	1,511		1,594		499			500		512		531			514
Marketing	1,330		1,338		445			445		440		491			446
Professional fees	1,588		1,795		673			494		421		677			611
Amortization of intangibles	632		708		207			212		213		228			234
Data processing	2,298		2,348		731			715		852		796			754
Telecommunications	583		1,005		210			202		171		254			311
Other general operating	6,963		22,775		2,185			2,333		2,445		2,530			8,163
Total noninterest expense	43,320		60,921		13,807			13,818		15,695		14,196			20,142
Income before income taxes	18,330		2,545		6,069			7,519		4,742		4,310			431
Income tax expense	5,145		762		1,561			2,199		1,385		1,260			663
Net income (loss)	$	13,185	$	1,783	$	4,508		$	5,320	$	3,357	$	3,050		$	(232	)
Preferred stock dividends	1,153		732		441			330		382		312			238
Net income (loss) applicable to common shareholders	$	12,032	$	1,051	$	4,067		$	4,990	$	2,975	$	2,738		$	(470	)

Per common share information
Earnings (loss)	$	1.15	$	0.10	$	0.39		$	0.48	$	0.28	$	0.26		$	(0.04	)
Diluted earnings (loss) ⁽¹⁾	1.09		0.10		0.37			0.45		0.27		0.25			(0.04		)
Dividends paid	0.15		0.07		0.05			0.05		0.05		0.05			0.05
Average common shares issued and outstanding	10,483,466		10,531,688		10,444,291			10,488,137		10,518,790		10,516,334			10,515,790
Average diluted common shares issued and outstanding⁽¹⁾	11,234,125		10,587,841		11,197,203			11,238,060		11,266,511		11,273,773			10,515,790


⁽¹⁾	The diluted earnings (loss) per common share excludes the effect of any equity instruments that are antidilutive to earnings per share. There were no potential common shares that were dilutive in the third quarter of 2014 because of the net loss applicable to common shareholders.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	4



Bank of America Corporation and Subsidiaries
Consolidated Statement of Comprehensive Income
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Net income (loss)	$	13,185		$	1,783		$	4,508		$	5,320		$	3,357		$	3,050		$	(232	)
Other comprehensive income (loss), net-of-tax:
Net change in available-for-sale debt and marketable equity securities	217			2,600			1,418			(2,537		)	1,336			2,021			(994		)
Net change in derivatives	416			411			127			246			43			205			196
Employee benefit plan adjustments	77			64			27			25			25			(1,007		)	8
Net change in foreign currency translation adjustments	(84		)	(133		)	(76		)	43			(51		)	(24		)	(14		)
Other comprehensive income (loss)	626			2,942			1,496			(2,223		)	1,353			1,195			(804		)
Comprehensive income (loss)	$	13,811		$	4,725		$	6,004		$	3,097		$	4,710		$	4,245		$	(1,036	)

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	5



Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
	September 30 2015			June 30 2015			September 30 2014
Assets
Cash and due from banks	$	27,886		$	29,974		$	28,332
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	142,540			133,540			100,327
Cash and cash equivalents	170,426			163,514			128,659
Time deposits placed and other short-term investments	6,485			7,996			7,859
Federal funds sold and securities borrowed or purchased under agreements to resell	206,681			199,903			223,310
Trading account assets	180,018			189,106			188,489
Derivative assets	55,226			50,977			49,092
Debt securities:
Carried at fair value	325,078			332,307			307,949
Held-to-maturity, at cost	66,573			60,072			60,175
Total debt securities	391,651			392,379			368,124
Loans and leases	887,689			886,449			891,315
Allowance for loan and lease losses	(12,657		)	(13,068		)	(15,106		)
Loans and leases, net of allowance	875,032			873,381			876,209
Premises and equipment, net	9,554			9,700			9,987
Mortgage servicing rights	3,043			3,521			4,243
Goodwill	69,761			69,775			69,784
Intangible assets	3,973			4,188			4,849
Loans held-for-sale	8,842			6,914			7,909
Customer and other receivables	63,443			64,505			67,092
Other assets	108,871			113,175			118,007
Total assets	$	2,153,006		$	2,149,034		$	2,123,613

Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
Trading account assets	$	5,514		$	4,863		$	7,533
Loans and leases	79,121			85,467			96,565
Allowance for loan and lease losses	(1,595		)	(1,711		)	(2,002		)
Loans and leases, net of allowance	77,526			83,756			94,563
Loans held-for-sale	338			413			555
All other assets	2,424			3,681			2,746
Total assets of consolidated variable interest entities	$	85,802		$	92,713		$	105,397

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	6



Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet (continued)
(Dollars in millions)
	September 30 2015			June 30 2015			September 30 2014
Liabilities
Deposits in U.S. offices:
Noninterest-bearing	$	417,837		$	411,862		$	386,575
Interest-bearing	676,812			668,447			654,726
Deposits in non-U.S. offices:
Noninterest-bearing	8,519			8,294			7,339
Interest-bearing	58,841			60,957			63,341
Total deposits	1,162,009			1,149,560			1,111,981
Federal funds purchased and securities loaned or sold under agreements to repurchase	199,238			213,024			217,925
Trading account liabilities	74,252			72,596			76,867
Derivative liabilities	45,862			43,583			44,237
Short-term borrowings	34,518			39,903			33,275
Accrued expenses and other liabilities (includes $661, $588 and $529 of reserve for unfunded lending commitments)	143,934			135,295			150,532
Long-term debt	237,288			243,414			250,115
Total liabilities	1,897,101			1,897,375			1,884,932
Shareholders' equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,767,790, 3,767,790 and 3,591,790 shares	22,273			22,273			17,913
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 10,427,305,035, 10,471,836,636 and 10,515,893,904 shares	151,841			152,638			153,472
Retained earnings	85,485			81,938			72,811
Accumulated other comprehensive income (loss)	(3,694		)	(5,190		)	(5,515		)
Total shareholders' equity	255,905			251,659			238,681
Total liabilities and shareholders' equity	$	2,153,006		$	2,149,034		$	2,123,613

Liabilities of consolidated variable interest entities included in total liabilities above
Short-term borrowings	$	567		$	358		$	985
Long-term debt	12,922			14,471			15,904
All other liabilities	103			109			137
Total liabilities of consolidated variable interest entities	$	13,592		$	14,938		$	17,026

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	7



Bank of America Corporation and Subsidiaries
Capital Management
(Dollars in millions)
	Basel 3 Standardized Transition
	September 30 2015			June 30 2015			March 31 2015			December 31 2014			September 30 2014
Risk-based capital metrics ^{(1, 2)}:
Common equity tier 1 capital	$	161,649		$	158,326		$	155,438		$	155,361		$	152,444
Tier 1 capital	178,830			176,247			173,155			168,973			163,040
Total capital	219,901			217,538			214,481			208,670			200,759
Risk-weighted assets	1,391,672			1,407,891			1,405,267			1,261,544			1,271,723
Common equity tier 1 capital ratio	11.6		%	11.2		%	11.1		%	12.3		%	12.0		%
Tier 1 capital ratio	12.9			12.5			12.3			13.4			12.8
Total capital ratio	15.8			15.5			15.3			16.5			15.8
Tier 1 leverage ratio	8.5			8.5			8.4			8.2			7.9

Tangible equity ratio ⁽³⁾	8.8			8.6			8.6			8.4			8.1
Tangible common equity ratio⁽³⁾	7.8			7.6			7.5			7.5			7.2


⁽¹⁾	Regulatory capital ratios are preliminary.


⁽²⁾	Common equity tier 1 capital ratios at September 30, 2015, June 30, 2015 and March 31, 2015 reflect the migration of the risk-weighted assets calculation from the general risk-based approach to the Basel 3 Standardized approach, and Common equity tier 1 capital includes the 2015 phase-in of regulatory capital transition provisions.

⁽³⁾

Tangible equity ratio equals period-end tangible shareholders' equity divided by period-end tangible assets. Tangible common equity ratio equals period-end tangible common shareholders' equity divided by period-end tangible assets. Tangible shareholders' equity and tangible assets are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate non-GAAP financial measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on pages 45-48.)

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	8



Bank of America Corporation and Subsidiaries
Regulatory Capital Reconciliations ^{(1, 2, 3)}
(Dollars in millions)
	September 30 2015			June 30 2015			March 31 2015			December 31 2014			September 30 2014
Regulatory capital – Basel 3 transition to fully phased-in
Common equity tier 1 capital (transition) ⁽⁴⁾	$	161,649		$	158,326		$	155,438		$	155,361		$	152,444
Deferred tax assets arising from net operating loss and tax credit carryforwards phased in during transition	(5,554		)	(5,706		)	(6,031		)	(8,905		)	(10,502		)
Accumulated OCI phased in during transition	(1,018		)	(1,884		)	(378		)	(1,592		)	(2,399		)
Intangibles phased in during transition	(1,654		)	(1,751		)	(1,821		)	(2,556		)	(2,697		)
Defined benefit pension fund assets phased in during transition	(470		)	(476		)	(459		)	(599		)	(664		)
DVA related to liabilities and derivatives phased in during transition	228			384			498			925			974
Other adjustments and deductions phased in during transition	(92		)	(587		)	(48		)	(1,417		)	(2,050		)
Common equity tier 1 capital (fully phased-in)	$	153,089		$	148,306		$	147,199		$	141,217		$	135,106

Risk-weighted assets – As reported to Basel 3 (fully phased-in)
As reported risk-weighted assets ⁽⁴⁾	$	1,391,672		$	1,407,891		$	1,405,267		$	1,261,544		$	1,271,723
Change in risk-weighted assets from reported to fully phased-in	22,989			25,460			25,394			153,722			146,516
Basel 3 Standardized approach risk-weighted assets (fully phased-in)	1,414,661			1,433,351			1,430,661			1,415,266			1,418,239
Change in risk-weighted assets for advanced models	(17,157		)	(5,963		)	30,529			50,213			(8,375		)
Basel 3 Advanced approaches risk-weighted assets (fully phased-in)	$	1,397,504		$	1,427,388		$	1,461,190		$	1,465,479		$	1,409,864

Regulatory capital ratios
Basel 3 Standardized approach Common equity tier 1 (transition)⁽⁴⁾	11.6		%	11.2		%	11.1		%	12.3		%	12.0		%
Basel 3 Standardized approach Common equity tier 1 (fully phased-in)	10.8			10.3			10.3			10.0			9.5
Basel 3 Advanced approaches Common equity tier 1 (fully phased-in)	11.0			10.4			10.1			9.6			9.6


⁽¹⁾	Regulatory capital ratios are preliminary.

⁽²⁾

Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements beginning in the fourth quarter of 2015. As previously disclosed, with the approval to exit parallel, U.S. banking regulators requested modifications to certain internal analytical models including the wholesale (e.g., commercial) credit models, which will increase our risk-weighted assets in the fourth quarter of 2015. Including these modifications, the estimated pro-forma risk-weighted assets and Common equity tier 1 capital ratio under the Basel 3 Advanced approaches on a fully phased-in basis would be $1,570 billion and 9.7 percent at September 30, 2015.


⁽³⁾	Fully phased-in estimates are non-GAAP financial measures. For reconciliations to GAAP financial measures, see above. Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology. As of September 30, 2015, we had not received internal models methodology approval.


⁽⁴⁾	Common equity tier 1 capital ratios at September 30,2015, June 30, 2015 and March 31, 2015 reflect the migration of the risk-weighted assets calculation from the general risk-based approach to the Basel 3 Standardized approach, and Common equity tier 1 capital includes the 2015 phase-in of regulatory capital transition provisions.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	9



Bank of America Corporation and Subsidiaries
Net Interest Income Excluding Trading-related Net Interest Income
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Net interest income (FTE basis)
As reported	$	30,128		$	30,956		$	9,742		$	10,716		$	9,670		$	9,865		$	10,444
Impact of trading-related net interest income	(2,870		)	(2,672		)	(1,034		)	(920		)	(916		)	(938		)	(906		)
Net interest income excluding trading-related net interest income ⁽¹⁾	$	27,258		$	28,284		$	8,708		$	9,796		$	8,754		$	8,927		$	9,538

Average earning assets
As reported	$	1,822,720		$	1,819,247		$	1,847,396		$	1,815,892		$	1,804,399		$	1,802,121		$	1,813,482
Impact of trading-related earning assets	(419,711		)	(449,249		)	(421,639		)	(419,241		)	(418,214		)	(435,408		)	(441,661		)
Average earning assets excluding trading-related earning assets ⁽¹⁾	$	1,403,009		$	1,369,998		$	1,425,757		$	1,396,651		$	1,386,185		$	1,366,713		$	1,371,821

Net interest yield contribution (FTE basis) ⁽²⁾
As reported	2.21		%	2.27		%	2.10		%	2.37		%	2.17		%	2.18		%	2.29		%
Impact of trading-related activities	0.39			0.48			0.33			0.44			0.39			0.42			0.48
Net interest yield on earning assets excluding trading-related activities ⁽¹⁾	2.60		%	2.75		%	2.43		%	2.81		%	2.56		%	2.60		%	2.77		%


⁽¹⁾	Represents a non-GAAP financial measure.


⁽²⁾	Calculated on an annualized basis.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	10



Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	Third Quarter 2015						Second Quarter 2015						Third Quarter 2014
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	$	145,174	$	96	0.26	%	$	125,762	$	81	0.26	%	$	110,876	$	77	0.28	%
Time deposits placed and other short-term investments	11,503		38		1.33		8,183		34		1.64		10,457		41		1.54
Federal funds sold and securities borrowed or purchased under agreements to resell	210,127		275		0.52		214,326		268		0.50		223,978		239		0.42
Trading account assets	140,484		1,170		3.31		137,137		1,114		3.25		143,282		1,147		3.18
Debt securities ⁽¹⁾	394,420		1,853		1.88		386,357		3,082		3.21		359,653		2,236		2.48
Loans and leases ⁽²⁾:
Residential mortgage	193,791		1,690		3.49		207,356		1,782		3.44		235,272		2,083		3.54
Home equity	79,715		730		3.64		82,640		769		3.73		88,590		836		3.76
U.S. credit card	88,201		2,033		9.15		87,460		1,980		9.08		88,866		2,093		9.34
Non-U.S. credit card	10,244		267		10.34		10,012		264		10.56		11,784		304		10.25
Direct/Indirect consumer	85,975		515		2.38		83,698		504		2.42		82,669		523		2.51
Other consumer	1,980		15		3.01		1,885		15		3.14		2,110		19		3.44
Total consumer	459,906		5,250		4.54		473,051		5,314		4.50		509,291		5,858		4.58
U.S. commercial	251,908		1,743		2.75		244,540		1,705		2.80		230,891		1,660		2.86
Commercial real estate	53,605		384		2.84		50,478		382		3.03		46,069		347		2.98
Commercial lease financing	25,425		199		3.12		24,723		180		2.92		24,325		212		3.48
Non-U.S. commercial	91,997		514		2.22		88,623		479		2.17		88,665		555		2.48
Total commercial	422,935		2,840		2.67		408,364		2,746		2.70		389,950		2,774		2.83
Total loans and leases	882,841		8,090		3.64		881,415		8,060		3.67		899,241		8,632		3.82
Other earning assets	62,847		716		4.52		62,712		721		4.60		65,995		710		4.27
Total earning assets⁽³⁾	1,847,396		12,238		2.64		1,815,892		13,360		2.95		1,813,482		13,082		2.87
Cash and due from banks	27,730						30,751						25,120
Other assets, less allowance for loan and lease losses	293,867						305,323						297,507
Total assets	$	2,168,993					$	2,151,966					$	2,136,109

⁽¹⁾

Yields on debt securities excluding the impact of market-related adjustments were 2.50, 2.48 and 2.55 percent for the three months ended September 30, 2015, June 30, 2015 and September 30, 2014. Yields on debt securities excluding the impact of market-related adjustments are a non-GAAP financial measure. The Corporation believes the use of this non-GAAP financial measure provides additional clarity in assessing its results.


⁽²⁾	Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.


⁽³⁾	The impact of interest rate risk management derivatives on interest income is presented below. Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on:



	Third Quarter 2015				Second Quarter 2015				Third Quarter 2014
Federal funds sold and securities borrowed or purchased under agreements to resell		$	20			$	13			$	10
Debt securities		(11		)		(3		)		(27		)
U.S. commercial loans and leases		(17		)		(18		)		(13		)
Net hedge expense on assets		$	(8	)		$	(8	)		$	(30	)

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	11



Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	Third Quarter 2015						Second Quarter 2015						Third Quarter 2014
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	46,297	$	2	0.02	%	$	47,381	$	2	0.02	%	$	46,803	$	1	0.01	%
NOW and money market deposit accounts	545,741		67		0.05		536,201		71		0.05		517,043		78		0.06
Consumer CDs and IRAs	53,174		38		0.29		55,832		42		0.30		65,579		59		0.35
Negotiable CDs, public funds and other deposits	30,631		26		0.33		29,904		22		0.30		31,806		27		0.34
Total U.S. interest-bearing deposits	675,843		133		0.08		669,318		137		0.08		661,231		165		0.10
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	4,196		7		0.71		5,162		9		0.67		8,022		21		1.05
Governments and official institutions	1,654		1		0.33		1,239		1		0.38		1,706		1		0.14
Time, savings and other	53,793		73		0.53		55,030		69		0.51		61,331		83		0.54
Total non-U.S. interest-bearing deposits	59,643		81		0.54		61,431		79		0.52		71,059		105		0.59
Total interest-bearing deposits	735,486		214		0.12		730,749		216		0.12		732,290		270		0.15
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings	257,323		597		0.92		252,088		686		1.09		255,111		590		0.92
Trading account liabilities	77,443		342		1.75		77,772		335		1.73		84,989		392		1.83
Long-term debt	240,520		1,343		2.22		242,230		1,407		2.33		251,772		1,386		2.19
Total interest-bearing liabilities ⁽¹⁾	1,310,772		2,496		0.76		1,302,839		2,644		0.81		1,324,162		2,638		0.79
Noninterest-bearing sources:
Noninterest-bearing deposits	423,745						416,040						395,198
Other liabilities	180,583						182,033						178,709
Shareholders' equity	253,893						251,054						238,040
Total liabilities and shareholders' equity	$	2,168,993					$	2,151,966					$	2,136,109
Net interest spread					1.88	%					2.14	%					2.08	%
Impact of noninterest-bearing sources					0.22						0.23						0.21
Net interest income/yield on earning assets			$	9,742	2.10	%			$	10,716	2.37	%			$	10,444	2.29	%


⁽¹⁾	The impact of interest rate risk management derivatives on interest expense is presented below. Interest expense includes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:



	Third Quarter 2015				Second Quarter 2015				Third Quarter 2014
NOW and money market deposit accounts		$	—			$	(1	)		$	—
Consumer CDs and IRAs		5				6				6
Negotiable CDs, public funds and other deposits		3				4				3
Banks located in non-U.S. countries		2				1				9
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings		232				247				260
Long-term debt		(832		)		(766		)		(880		)
Net hedge income on liabilities		$	(590	)		$	(509	)		$	(602	)

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	12



Bank of America Corporation and Subsidiaries
Year-to-Date Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	Nine Months Ended September 30
	2015						2014
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	$	132,445	$	261	0.26	%	$	115,670	$	234	0.27	%
Time deposits placed and other short-term investments	9,366		105		1.50		11,602		129		1.49
Federal funds sold and securities borrowed or purchased under agreements to resell	212,781		774		0.49		224,001		801		0.48
Trading account assets	138,861		3,406		3.28		146,205		3,575		3.27
Debt securities ⁽¹⁾	388,007		6,833		2.36		345,194		6,375		2.45
Loans and leases ⁽²⁾:
Residential mortgage	205,315		5,323		3.46		242,034		6,516		3.59
Home equity	82,404		2,269		3.68		90,676		2,531		3.73
U.S. credit card	88,117		6,040		9.17		88,820		6,227		9.37
Non-U.S. credit card	10,087		793		10.51		11,700		920		10.51
Direct/Indirect consumer	83,481		1,510		2.42		82,170		1,577		2.57
Other consumer	1,904		45		3.14		2,029		54		3.56
Total consumer	471,308		15,980		4.53		517,429		17,825		4.60
U.S. commercial	243,848		5,093		2.79		229,822		4,982		2.90
Commercial real estate	50,792		1,113		2.93		47,703		1,072		3.00
Commercial lease financing	24,884		595		3.19		24,485		639		3.48
Non-U.S. commercial	88,089		1,478		2.24		90,921		1,669		2.45
Total commercial	407,613		8,279		2.71		392,931		8,362		2.84
Total loans and leases	878,921		24,259		3.69		910,360		26,187		3.84
Other earning assets	62,339		2,142		4.59		66,215		2,071		4.18
Total earning assets⁽³⁾	1,822,720		37,780		2.77		1,819,247		39,372		2.89
Cash and due from banks	28,726						26,907
Other assets, less allowance for loan and lease losses	301,843						302,144
Total assets	$	2,153,289					$	2,148,298


⁽¹⁾	Yields on debt securities excluding the impact of market-related adjustments were 2.49 and 2.67 percent for the nine months ended September 30, 2015 and 2014. Yields on debt securities excluding the impact of market-related adjustments are a non-GAAP financial measure. The Corporation believes the use of this non-GAAP financial measure provides additional clarity in assessing its results.


⁽²⁾	Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.


⁽³⁾	The impact of interest rate risk management derivatives on interest income is presented below. Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on:



	2015				2014
Federal funds sold and securities borrowed or purchased under agreements to resell		$	45			$	37
Debt securities		(22		)		(42		)
U.S. commercial loans and leases		(50		)		(43		)
Net hedge expense on assets		$	(27	)		$	(48	)

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	13



Bank of America Corporation and Subsidiaries
Year-to-Date Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	Nine Months Ended September 30
	2015							2014
	Average Balance		Interest Income/ Expense		Yield/ Rate			Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	46,634	$	6	0.02	%		$	46,489	$	2	0.01	%
NOW and money market deposit accounts	537,974		205		0.05			519,870		240		0.06
Consumer CDs and IRAs	55,883		125		0.30			68,455		212		0.41
Negotiable CDs, public funds and other deposits	29,784		70		0.32			31,693		85		0.36
Total U.S. interest-bearing deposits	670,275		406		0.08			666,507		539		0.11
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	4,633		24		0.70			9,866		52		0.70
Governments and official institutions	1,426		3		0.31			1,772		2		0.13
Time, savings and other	54,364		217		0.53			61,974		250		0.54
Total non-U.S. interest-bearing deposits	60,423		244		0.54			73,612		304		0.55
Total interest-bearing deposits	730,698		650		0.12		��	740,119		843		0.15
Federal funds purchased, securities loaned or sold under agreements to repurchase and other short-term borrowings	251,231		1,868		0.99			259,786		1,963		1.01
Trading account liabilities	77,996		1,071		1.84			90,177		1,225		1.82
Long-term debt	240,960		4,063		2.25			255,084		4,385		2.30
Total interest-bearing liabilities ⁽¹⁾	1,300,885		7,652		0.79			1,345,166		8,416		0.84
Noninterest-bearing sources:
Noninterest-bearing deposits	414,988							384,658
Other liabilities	187,156							181,668
Shareholders' equity	250,260							236,806
Total liabilities and shareholders' equity	$	2,153,289						$	2,148,298
Net interest spread					1.98	%						2.05	%
Impact of noninterest-bearing sources					0.23							0.22
Net interest income/yield on earning assets			$	30,128	2.21	%				$	30,956	2.27	%


⁽¹⁾	The impact of interest rate risk management derivatives on interest expense is presented below. Interest expense includes the impact of interest rate risk management contracts, which increased(decreased) interest expense on:



	2015				2014
NOW and money market deposit accounts		$	(1	)		$	(1	)
Consumer CDs and IRAs		17				38
Negotiable CDs, public funds and other deposits		10				10
Banks located in non-U.S. countries		4				18
Federal funds purchased, securities loaned or sold under agreements to repurchase and other short-term borrowings		728				780
Long-term debt		(2,439		)		(2,660		)
Net hedge income on liabilities		$	(1,681	)		$	(1,815	)

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	14



Bank of America Corporation and Subsidiaries
Debt Securities and Available-for-Sale Marketable Equity Securities
(Dollars in millions)
	September 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	207,057	$	1,854	$	(592	)	$	208,319
Agency-collateralized mortgage obligations	11,836		263		(24		)	12,075
Non-agency residential	3,383		255		(56		)	3,582
Commercial	5,422		115		(7		)	5,530
Total mortgage-backed securities	227,698		2,487		(679		)	229,506
U.S. Treasury and agency securities	39,422		711		(2		)	40,131
Non-U.S. securities	6,356		26		(7		)	6,375
Corporate/Agency bonds	231		4		(1		)	234
Other taxable securities, substantially all asset-backed securities	9,769		18		(37		)	9,750
Total taxable securities	283,476		3,246		(726		)	285,996
Tax-exempt securities	11,685		31		(26		)	11,690
Total available-for-sale debt securities	295,161		3,277		(752		)	297,686
Other debt securities carried at fair value	27,457		161		(226		)	27,392
Total debt securities carried at fair value	322,618		3,438		(978		)	325,078
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	66,573		495		(588		)	66,480
Total debt securities	$	389,191	$	3,933	$	(1,566	)	$	391,558
Available-for-sale marketable equity securities ⁽¹⁾	$	331	$	24	$	—		$	355

	June 30, 2015
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	189,228	$	931	$	(1,899	)	$	188,260
Agency-collateralized mortgage obligations	12,749		224		(42		)	12,931
Non-agency residential	3,649		299		(62		)	3,886
Commercial	5,087		54		(31		)	5,110
Total mortgage-backed securities	210,713		1,508		(2,034		)	210,187
U.S. Treasury and agency securities	57,699		661		(16		)	58,344
Non-U.S. securities	6,124		25		(4		)	6,145
Corporate/Agency bonds	252		6		(1		)	257
Other taxable securities, substantially all asset-backed securities	10,389		35		(21		)	10,403
Total taxable securities	285,177		2,235		(2,076		)	285,336
Tax-exempt securities	10,811		15		(25		)	10,801
Total available-for-sale debt securities	295,988		2,250		(2,101		)	296,137
Other debt securities carried at fair value	36,452		164		(446		)	36,170
Total debt securities carried at fair value	332,440		2,414		(2,547		)	332,307
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	60,072		160		(1,069		)	59,163
Total debt securities	$	392,512	$	2,574	$	(3,616	)	$	391,470
Available-for-sale marketable equity securities ⁽¹⁾	$	336	$	104	$	—		$	440


⁽¹⁾	Classified in other assets on the Consolidated Balance Sheet.



Other Debt Securities Carried at Fair Value
(Dollars in millions)	September 30 2015		June 30 2015
Mortgage-backed securities:
Agency	$	7,944	$	14,885
Agency-collateralized mortgage obligations	7		9
Non-agency residential	3,635		3,787
Total mortgage-backed securities	11,586		18,681
Non-U.S. securities ⁽¹⁾	15,529		17,198
Other taxable securities, substantially all asset-backed securities	277		291
Total	$	27,392	$	36,170


⁽¹⁾	These securities are primarily used to satisfy certain international regulatory liquidity requirements.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	15



Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment
(Dollars in millions)
	Third Quarter 2015
	Total Corporation			Consumer Banking			GWIM			Global Banking		Global Markets		Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	9,742		$	5,005		$	1,376		$	2,345	$	1,135	$	383		$	(502	)
Card income	1,510			1,248			44			132		18		—			68
Service charges	1,898			1,057			18			746		73		—			4
Investment and brokerage services	3,336			70			2,682			11		574		—			(1		)
Investment banking income (loss)	1,287			(1		)	55			752		521		—			(40		)
Equity investment income (loss)	(31		)	8			(3		)	1		9		—			(46		)
Trading account profits (losses)	1,616			—			43			100		1,462		(1		)	12
Mortgage banking income (loss)	407			207			1			—		—		266			(67		)
Gains (losses) on sales of debt securities	385			1			—			—		—		(1		)	385
Other income (loss)	763			237			252			104		279		194			(303		)
Total noninterest income	11,171			2,827			3,092			1,846		2,936		458			12
Total revenue, net of interest expense (FTE basis)	20,913			7,832			4,468			4,191		4,071		841			(490		)
Provision for credit losses	806			648			(2		)	179		42		6			(67		)
Noninterest expense	13,807			4,434			3,447			2,020		2,683		1,143			80
Income (loss) before income taxes (FTE basis)	6,300			2,750			1,023			1,992		1,346		(308		)	(503		)
Income tax expense (benefit) (FTE basis)	1,792			991			367			715		338		(112		)	(507		)
Net income (loss)	$	4,508		$	1,759		$	656		$	1,277	$	1,008	$	(196	)	$	4

Average
Total loans and leases	$	882,841		$	206,337		$	133,168		$	310,043	$	66,392	$	29,074		$	137,827
Total assets ⁽¹⁾	2,168,993			612,348			274,192			370,246		597,103		50,719			264,385
Total deposits	1,159,231			548,895			243,980			296,321		37,050		n/m			22,605
Period end
Total loans and leases	$	887,689		$	208,981		$	134,630		$	315,224	$	70,159	$	27,982		$	130,713
Total assets ⁽¹⁾	2,153,006			615,152			279,155			372,363		579,776		49,080			257,480
Total deposits	1,162,009			551,539			246,172			297,644		36,019		n/m			21,771

	Second Quarter 2015
	Total Corporation			Consumer Banking			GWIM			Global Banking		Global Markets		Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	10,716		$	4,910		$	1,359		$	2,213	$	1,028	$	417		$	789
Card income	1,477			1,206			41			128		36		—			66
Service charges	1,857			1,033			19			728		73		—			4
Investment and brokerage services	3,387			68			2,749			14		556		—			—
Investment banking income (loss)	1,526			—			84			777		718		—			(53		)
Equity investment income	88			—			3			3		71		—			11
Trading account profits (losses)	1,647			—			53			20		1,693		—			(119		)
Mortgage banking income	1,001			256			2			—		—		682			61
Gains (losses) on sales of debt securities	168			—			(1		)	—		7		—			162
Other income (loss)	478			71			264			223		85		(10		)	(155		)
Total noninterest income	11,629			2,634			3,214			1,893		3,239		672			(23		)
Total revenue, net of interest expense (FTE basis)	22,345			7,544			4,573			4,106		4,267		1,089			766
Provision for credit losses	780			506			15			177		6		57			19
Noninterest expense	13,818			4,318			3,459			1,932		2,732		961			416
Income before income taxes (FTE basis)	7,747			2,720			1,099			1,997		1,529		71			331
Income tax expense (benefit) (FTE basis)	2,427			1,014			410			746		537		26			(306		)
Net income	$	5,320		$	1,706		$	689		$	1,251	$	992	$	45		$	637

Average
Total loans and leases	$	881,415		$	201,703		$	130,270		$	300,631	$	61,908	$	30,897		$	156,006
Total assets ⁽¹⁾	2,151,966			608,919			268,835			361,867		602,735		52,548			257,062
Total deposits	1,146,789			545,454			239,974			288,117		39,718		n/m			22,482
Period end
Total loans and leases	$	886,449		$	204,380		$	132,377		$	307,085	$	66,026	$	30,024		$	146,557
Total assets ⁽¹⁾	2,149,034			611,016			267,021			367,052		580,953		50,959			272,033
Total deposits	1,149,560			547,343			237,624			292,261		39,326		n/m			22,964


⁽¹⁾	Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	16



Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment (continued)
(Dollars in millions)
	Third Quarter 2014
	Total Corporation			Consumer Banking		GWIM			Global Banking			Global Markets		Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	10,444		$	5,081	$	1,459		$	2,450		$	999	$	387		$	68
Card income	1,500			1,219		52			119			18		—			92
Service charges	1,907			1,085		19			730			67		—			6
Investment and brokerage services	3,327			62		2,713			13			533		—			6
Investment banking income (loss)	1,351			—		111			727			577		—			(64		)
Equity investment income (loss)	9			—		—			6			29		—			(26		)
Trading account profits	1,899			—		48			58			1,786		1			6
Mortgage banking income (loss)	272			205		1			—			—		152			(86		)
Gains on sales of debt securities	432			14		1			—			7		—			410
Other income (loss)	293			83		262			242			145		16			(455		)
Total noninterest income	10,990			2,668		3,207			1,895			3,162		169			(111		)
Total revenue, net of interest expense (FTE basis)	21,434			7,749		4,666			4,345			4,161		556			(43		)
Provision for credit losses	636			668		(15		)	(64		)	45		267			(265		)
Noninterest expense	20,142			4,462		3,405			2,016			3,357		6,648			254
Income (loss) before income taxes (FTE basis)	656			2,619		1,276			2,393			759		(6,359		)	(32		)
Income tax expense (benefit) (FTE basis)	888			950		464			872			388		(1,245		)	(541		)
Net income (loss)	$	(232	)	$	1,669	$	812		$	1,521		$	371	$	(5,114	)	$	509

Average
Total loans and leases	$	899,241		$	197,374	$	121,002		$	283,264		$	62,959	$	35,238		$	199,404
Total assets ⁽¹⁾	2,136,109			578,846		266,324			364,565			599,977		53,843			272,554
Total deposits	1,127,488			514,549		239,352			291,927			39,345		n/m			29,879
Period end
Total loans and leases	$	891,315		$	198,467	$	122,395		$	284,908		$	62,705	$	34,484		$	188,356
Total assets ⁽¹⁾	2,123,613			580,372		266,240			354,944			598,804		56,908			266,345
Total deposits	1,111,981			515,580		238,710			282,325			39,133		n/m			25,419


⁽¹⁾	Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	17



Bank of America Corporation and Subsidiaries
Year-to-Date Results by Business Segment
(Dollars in millions)
	Nine Months Ended September 30, 2015
	Total Corporation		Consumer Banking			GWIM		Global Banking		Global Markets		Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	30,128	$	14,786		$	4,086	$	6,818	$	3,172	$	1,228		$	38
Card income	4,381		3,621			134		360		63		—			203
Service charges	5,519		3,056			55		2,184		211		—			13
Investment and brokerage services	10,101		203			8,154		43		1,703		—			(2		)
Investment banking income (loss)	4,300		(1		)	211		2,381		1,869		—			(160		)
Equity investment income (loss)	84		7			—		13		98		—			(34		)
Trading account profits (losses)	5,510		—			151		184		5,282		1			(108		)
Mortgage banking income (loss)	2,102		751			4		—		—		1,409			(62		)
Gains (losses) on sales of debt securities	821		2			—		—		10		(1		)	810
Other income (loss)	1,733		401			763		584		553		207			(775		)
Total noninterest income	34,551		8,040			9,472		5,749		9,789		1,616			(115		)
Total revenue, net of interest expense (FTE basis)	64,679		22,826			13,558		12,567		12,961		2,844			(77		)
Provision for credit losses	2,351		1,870			36		452		69		154			(230		)
Noninterest expense	43,320		13,141			10,366		5,952		8,556		3,307			1,998
Income (loss) before income taxes (FTE basis)	19,008		7,815			3,156		6,163		4,336		(617		)	(1,845		)
Income tax expense (benefit) (FTE basis)	5,823		2,875			1,161		2,268		1,392		(227		)	(1,646		)
Net income (loss)	$	13,185	$	4,940		$	1,995	$	3,895	$	2,944	$	(390	)	$	(199	)

Average
Total loans and leases	$	878,921	$	202,565		$	129,881	$	300,141	$	61,798	$	30,782		$	153,754
Total assets ⁽¹⁾	2,153,289		605,418			272,715		364,659		599,472		51,994			259,031
Total deposits	1,145,686		541,969			242,507		290,327		38,813		n/m			21,508
Period end
Total loans and leases	$	887,689	$	208,981		$	134,630	$	315,224	$	70,159	$	27,982		$	130,713
Total assets ⁽¹⁾	2,153,006		615,152			279,155		372,363		579,776		49,080			257,480
Total deposits	1,162,009		551,539			246,172		297,644		36,019		n/m			21,771

	Nine Months Ended September 30, 2014
	Total Corporation		Consumer Banking			GWIM		Global Banking		Global Markets		Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	30,956	$	15,211		$	4,430	$	7,396	$	2,968	$	1,126		$	(175	)
Card income	4,334		3,520			150		333		65		—			266
Service charges	5,599		3,118			57		2,188		216		—			20
Investment and brokerage services	9,887		186			7,959		52		1,654		—			36
Investment banking income (loss)	4,524		—			251		2,383		2,073		—			(183		)
Equity investment income	1,150		—			5		63		316		—			766
Trading account profits (losses)	6,198		—			139		135		5,921		7			(4		)
Mortgage banking income (loss)	1,211		620			2		—		1		812			(224		)
Gains on sales of debt securities	1,191		15			1		—		10		16			1,149
Other income (loss)	1,111		379			808		743		577		81			(1,477		)
Total noninterest income	35,205		7,838			9,372		5,897		10,833		916			349
Total revenue, net of interest expense (FTE basis)	66,161		23,049			13,802		13,293		13,801		2,042			174
Provision for credit losses	2,056		2,027			—		353		83		240			(647		)
Noninterest expense	60,921		13,446			10,213		6,200		9,341		19,287			2,434
Income (loss) before income taxes (FTE basis)	3,184		7,576			3,589		6,740		4,377		(17,485		)	(1,613		)
Income tax expense (benefit) (FTE basis)	1,401		2,795			1,325		2,491		1,597		(4,748		)	(2,059		)
Net income (loss)	$	1,783	$	4,781		$	2,264	$	4,249	$	2,780	$	(12,737	)	$	446
								��
Average
Total loans and leases	$	910,360	$	196,408		$	118,505	$	286,309	$	63,409	$	36,672		$	209,057
Total assets ⁽¹⁾	2,148,298		575,622			267,779		361,306		606,205		54,030			283,356
Total deposits	1,124,777		511,214			240,716		286,633		40,769		n/m			33,759
Period end
Total loans and leases	$	891,315	$	198,467		$	122,395	$	284,908	$	62,705	$	34,484		$	188,356
Total assets ⁽¹⁾	2,123,613		580,372			266,240		354,944		598,804		56,908			266,345
Total deposits	1,111,981		515,580			238,710		282,325		39,133		n/m			25,419


⁽¹⁾	Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	18



Bank of America Corporation and Subsidiaries
Consumer Banking Segment Results
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Net interest income (FTE basis)	$	14,786		$	15,211		$	5,005		$	4,910		$	4,871		$	4,967		$	5,081
Noninterest income:
Card income	3,621			3,520			1,248			1,206			1,167			1,324			1,219
Service charges	3,056			3,118			1,057			1,033			966			1,042			1,085
Mortgage banking income	751			620			207			256			288			193			205
All other income	612			580			315			139			158			232			159
Total noninterest income	8,040			7,838			2,827			2,634			2,579			2,791			2,668
Total revenue, net of interest expense (FTE basis)	22,826			23,049			7,832			7,544			7,450			7,758			7,749

Provision for credit losses	1,870			2,027			648			506			716			653			668

Noninterest expense	13,141			13,446			4,434			4,318			4,389			4,418			4,462
Income before income taxes (FTE basis)	7,815			7,576			2,750			2,720			2,345			2,687			2,619
Income tax expense (FTE basis)	2,875			2,795			991			1,014			870			1,033			950
Net income	$	4,940		$	4,781		$	1,759		$	1,706		$	1,475		$	1,654		$	1,669

Net interest yield (FTE basis)	3.47		%	3.77		%	3.45		%	3.44		%	3.54		%	3.61		%	3.71		%
Return on average allocated capital ⁽¹⁾	23			21			24			24			21			22			22
Efficiency ratio (FTE basis)	57.57			58.34			56.62			57.24			58.90			56.94			57.58

Balance Sheet
Average
Total loans and leases	$	202,565		$	196,408		$	206,337		$	201,703		$	199,581		$	199,215		$	197,374
Total earning assets⁽²⁾	569,136			539,601			576,226			572,278			558,713			545,609			542,776
Total assets ⁽²⁾	605,418			575,622			612,348			608,919			594,795			582,004			578,846
Total deposits	541,969			511,214			548,895			545,454			531,365			517,580			514,549
Allocated capital ⁽¹⁾	29,000			30,000			29,000			29,000			29,000			30,000			30,000

Period end
Total loans and leases	$	208,981		$	198,467		$	208,981		$	204,380		$	200,153		$	202,000		$	198,467
Total earning assets⁽²⁾	578,702			544,907			578,702			575,178			576,762			551,945			544,907
Total assets ⁽²⁾	615,152			580,372			615,152			611,016			613,024			588,875			580,372
Total deposits	551,539			515,580			551,539			547,343			549,489			524,413			515,580

⁽¹⁾

Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-48.)


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	19



Bank of America Corporation and Subsidiaries
Consumer Banking Year-to-Date Results
(Dollars in millions)
	Nine Months Ended September 30, 2015
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	14,786		$	7,126		$	7,660
Noninterest income:
Card income	3,621			8			3,613
Service charges	3,056			3,055			1
Mortgage banking income	751			—			751
All other income	612			354			258
Total noninterest income	8,040			3,417			4,623
Total revenue, net of interest expense (FTE basis)	22,826			10,543			12,283

Provision for credit losses	1,870			145			1,725

Noninterest expense	13,141			7,303			5,838
Income before income taxes (FTE basis)	7,815			3,095			4,720
Income tax expense (FTE basis)	2,875			1,138			1,737
Net income	$	4,940		$	1,957		$	2,983

Net interest yield (FTE basis)	3.47		%	1.75		%	5.14		%
Return on average allocated capital ⁽¹⁾	23			22			23
Efficiency ratio (FTE basis)	57.57			69.27			47.53

Balance Sheet
Average
Total loans and leases	$	202,565		$	5,827		$	196,738
Total earning assets ⁽²⁾	569,136			545,804			199,212
Total assets ⁽²⁾	605,418			572,797			208,501
Total deposits	541,969			540,849			n/m
Allocated capital ⁽¹⁾	29,000			12,000			17,000

Period end
Total loans and leases	$	208,981		$	5,820		$	203,161
Total earning assets ⁽²⁾	578,702			555,258			205,415
Total assets ⁽²⁾	615,152			582,195			214,928
Total deposits	551,539			550,238			n/m

	Nine Months Ended September 30, 2014
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	15,211		$	7,125		$	8,086
Noninterest income:
Card income	3,520			8			3,512
Service charges	3,118			3,117			1
Mortgage banking income	620			—			620
All other income	580			295			285
Total noninterest income	7,838			3,420			4,418
Total revenue, net of interest expense (FTE basis)	23,049			10,545			12,504

Provision for credit losses	2,027			207			1,820

Noninterest expense	13,446			7,406			6,040
Income before income taxes (FTE basis)	7,576			2,932			4,644
Income tax expense (FTE basis)	2,795			1,080			1,715
Net income	$	4,781		$	1,852		$	2,929

Net interest yield (FTE basis)	3.77		%	1.85		%	5.59		%
Return on average allocated capital ⁽¹⁾	21			23			21
Efficiency ratio (FTE basis)	58.34			70.23			48.31

Balance Sheet
Average
Total loans and leases	$	196,408		$	6,090		$	190,318
Total earning assets ⁽²⁾	539,601			514,581			193,294
Total assets ⁽²⁾	575,622			541,223			202,673
Total deposits	511,214			510,388			n/m
Allocated capital ⁽¹⁾	30,000			11,000			19,000

Period end
Total loans and leases	$	198,467		$	6,038		$	192,429
Total earning assets ⁽²⁾	544,907			518,854			195,728
Total assets ⁽²⁾	580,372			545,287			204,760
Total deposits	515,580			514,437			n/m

For footnotes see page 22.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	20



Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results
(Dollars in millions)
	Third Quarter 2015
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,005		$	2,440		$	2,565
Noninterest income:
Card income	1,248			2			1,246
Service charges	1,057			1,056			1
Mortgage banking income	207			—			207
All other income	315			131			184
Total noninterest income	2,827			1,189			1,638
Total revenue, net of interest expense (FTE basis)	7,832			3,629			4,203

Provision for credit losses	648			58			590

Noninterest expense	4,434			2,484			1,950
Income before income taxes (FTE basis)	2,750			1,087			1,663
Income tax expense (FTE basis)	991			392			599
Net income	$	1,759		$	695		$	1,064

Net interest yield (FTE basis)	3.45		%	1.75		%	5.01		%
Return on average allocated capital ⁽¹⁾	24			23			25
Efficiency ratio (FTE basis)	56.62			68.48			46.37

Balance Sheet
Average
Total loans and leases	$	206,337		$	5,813		$	200,524
Total earning assets ⁽²⁾	576,226			552,639			203,013
Total assets ⁽²⁾	612,348			579,690			212,084
Total deposits	548,895			547,726			n/m
Allocated capital ⁽¹⁾	29,000			12,000			17,000

Period end
Total loans and leases	$	208,981		$	5,820		$	203,161
Total earning assets ⁽²⁾	578,702			555,258			205,415
Total assets ⁽²⁾	615,152			582,195			214,928
Total deposits	551,539			550,238			n/m

	Second Quarter 2015
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	4,910		$	2,389		$	2,521
Noninterest income:
Card income	1,206			3			1,203
Service charges	1,033			1,033			—
Mortgage banking income	256			—			256
All other income	139			120			19
Total noninterest income	2,634			1,156			1,478
Total revenue, net of interest expense (FTE basis)	7,544			3,545			3,999

Provision for credit losses	506			24			482

Noninterest expense	4,318			2,365			1,953
Income before income taxes (FTE basis)	2,720			1,156			1,564
Income tax expense (FTE basis)	1,014			430			584
Net income	$	1,706		$	726		$	980

Net interest yield (FTE basis)	3.44		%	1.75		%	5.09		%
Return on average allocated capital ⁽¹⁾	24			24			23
Efficiency ratio (FTE basis)	57.24			66.73			48.83

Balance Sheet
Average
Total loans and leases	$	201,703		$	5,789		$	195,914
Total earning assets ⁽²⁾	572,278			549,152			198,501
Total assets ⁽²⁾	608,919			576,317			207,977
Total deposits	545,454			544,340			n/m
Allocated capital ⁽¹⁾	29,000			12,000			17,000

Period end
Total loans and leases	$	204,380		$	5,834		$	198,546
Total earning assets ⁽²⁾	575,178			551,599			201,319
Total assets ⁽²⁾	611,016			578,121			210,635
Total deposits	547,343			546,169			n/m

For footnotes see page 22.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	21



Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results (continued)
(Dollars in millions)
	Third Quarter 2014
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,081		$	2,389		$	2,692
Noninterest income:
Card income	1,219			2			1,217
Service charges	1,085			1,085			—
Mortgage banking income	205			—			205
All other income	159			116			43
Total noninterest income	2,668			1,203			1,465
Total revenue, net of interest expense (FTE basis)	7,749			3,592			4,157

Provision for credit losses	668			93			575

Noninterest expense	4,462			2,480			1,982
Income before income taxes (FTE basis)	2,619			1,019			1,600
Income tax expense (FTE basis)	950			368			582
Net income	$	1,669		$	651		$	1,018

Net interest yield (FTE basis)	3.71		%	1.83		%	5.51		%
Return on average allocated capital ⁽¹⁾	22			23			21
Efficiency ratio (FTE basis)	57.58			69.04			47.67

Balance Sheet
Average
Total loans and leases	$	197,374		$	6,076		$	191,298
Total earning assets ⁽²⁾	542,776			518,038			193,970
Total assets ⁽²⁾	578,846			544,537			203,541
Total deposits	514,549			513,668			n/m
Allocated capital ⁽¹⁾	30,000			11,000			19,000

Period end
Total loans and leases	$	198,467		$	6,038		$	192,429
Total earning assets ⁽²⁾	544,907			518,854			195,728
Total assets ⁽²⁾	580,372			545,287			204,760
Total deposits	515,580			514,437			n/m

⁽¹⁾


⁽²⁾	For presentation purposes, in segments or businesses where the total of liabilities and equity exceeds assets, the Corporation allocates assets from All Other to match the segments' and businesses' liabilities and allocated shareholders' equity. As a result, total earning assets and total assets of the businesses may not equal total Consumer Banking.

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	22



Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Average deposit balances
Checking	$	256,949		$	234,416		$	261,469		$	259,007		$	250,248		$	241,254		$	238,133
Savings	44,999			44,833			44,721			45,748			44,525			43,972			45,124
MMS	186,104			166,977			191,358			186,750			180,078			172,992			168,815
CDs and IRAs	51,195			62,212			48,644			51,178			53,820			56,476			59,666
Non-U.S. and other	2,722			2,776			2,703			2,771			2,694			2,886			2,811
Total average deposit balances	$	541,969		$	511,214		$	548,895		$	545,454		$	531,365		$	517,580		$	514,549

Deposit spreads (excludes noninterest costs)
Checking	2.03		%	2.07		%	2.03		%	2.04		%	2.03		%	2.08		%	2.08		%
Savings	2.30			2.31			2.29			2.29			2.31			2.32			2.32
MMS	1.22			1.17			1.23			1.22			1.23			1.21			1.19
CDs and IRAs	0.58			0.50			0.62			0.58			0.54			0.52			0.50
Non-U.S. and other	0.45			0.49			0.48			0.45			0.42			0.40			0.40
Total deposit spreads	1.63			1.59			1.64			1.63			1.62			1.63			1.61

Client brokerage assets	$	117,210		$	108,533		$	117,210		$	121,961		$	118,492		$	113,763		$	108,533

Online banking active accounts (units in thousands)	31,627			30,822			31,627			31,365			31,523			30,904			30,822
Mobile banking active accounts (units in thousands) ⁽¹⁾	18,398			16,107			18,398			17,626			17,092			16,539			16,107
Financial centers	4,741			4,947			4,741			4,789			4,835			4,855			4,947
ATMs	16,062			15,671			16,062			15,992			15,903			15,834			15,671

Total U.S. credit card ⁽²⁾
Loans
Average credit card outstandings	$	88,117		$	88,820		$	88,201		$	87,460		$	88,695		$	89,381		$	88,866
Ending credit card outstandings	88,339			89,026			88,339			88,403			87,288			91,879			89,026
Credit quality
Net charge-offs	$	1,751		$	2,026		$	546		$	584		$	621		$	612		$	625
	2.66		%	3.05		%	2.46		%	2.68		%	2.84		%	2.71		%	2.79		%
30+ delinquency	$	1,514		$	1,702		$	1,514		$	1,486		$	1,581		$	1,701		$	1,702
	1.71		%	1.91		%	1.71		%	1.68		%	1.81		%	1.85		%	1.91		%
90+ delinquency	$	721		$	831		$	721		$	742		$	795		$	866		$	831
	0.82		%	0.93		%	0.82		%	0.84		%	0.91		%	0.94		%	0.93		%
Other Total U.S. credit card indicators ⁽²⁾
Gross interest yield	9.17		%	9.37		%	9.15		%	9.09		%	9.27		%	9.26		%	9.34		%
Risk-adjusted margin	9.17			9.26			9.54			8.92			9.05			9.96			9.33
New accounts (in thousands)	3,713			3,357			1,257			1,295			1,161			1,184			1,202
Purchase volumes	$	162,625		$	156,231		$	56,471		$	55,976		$	50,178		$	55,857		$	53,784

Debit card data
Purchase volumes	$	206,941		$	203,372		$	69,289		$	70,754		$	66,898		$	69,204		$	67,990

For footnotes see page 24.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	23



Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators (continued)
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Loan production ⁽³⁾:
Total ⁽⁴⁾
First mortgage	$	43,386		$	31,674		$	13,711		$	15,962		$	13,713		$	11,616		$	11,725
Home equity	9,566			7,813			3,140			3,209			3,217			3,420			3,225
Consumer Banking
First mortgage	$	31,146		$	24,024		$	10,027		$	11,265		$	9,854		$	8,316		$	8,861
Home equity	8,797			7,156			2,841			2,939			3,017			3,129			2,970

Mortgage banking income
Consumer Lending:
Core production revenue	$	794		$	661		$	221		$	273		$	300		$	214		$	239
Representations and warranties provision	9			14			2			1			6			(4		)	(15		)
Other consumer mortgage banking income ⁽⁵⁾	(52		)	(55		)	(16		)	(18		)	(18		)	(17		)	(19		)
Total Consumer Lending mortgage banking income	751			620			207			256			288			193			205
Legacy Assets & Servicing mortgage banking income ⁽⁶⁾	1,409			812			266			682			461			241			152
Eliminations ⁽⁷⁾	(58		)	(221		)	(66		)	63			(55		)	(82		)	(85		)
Total consolidated mortgage banking income	$	2,102		$	1,211		$	407		$	1,001		$	694		$	352		$	272


⁽¹⁾	Beginning in the first quarter of 2015, mobile users include Merrill Edge and MyMerrill users of approximately 150 thousand.


⁽²⁾	In addition to the U.S. credit card portfolio in Consumer Banking, the remaining U.S. credit card portfolio is in GWIM.


⁽³⁾	The above loan production amounts represent the unpaid principal balance of loans and in the case of home equity, the principal amount of the total line of credit.


⁽⁴⁾	In addition to loan production in Consumer Banking, there is also first mortgage and home equity loan production in GWIM.


⁽⁵⁾	Primarily intercompany charge for loan servicing activities provided by Legacy Assets & Servicing.


⁽⁶⁾	Amounts for Legacy Assets & Servicing are included in this Consumer Banking table to show the components of consolidated mortgage banking income.


⁽⁷⁾	Includes the effect of transfers of mortgage loans from Consumer Banking to the ALM portfolio included in All Other, intercompany charges for loan servicing and net gains or losses on intercompany trades related to mortgage servicing rights risk management.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	24



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Net interest income (FTE basis)	$	4,086		$	4,430		$	1,376		$	1,359		$	1,351		$	1,406		$	1,459
Noninterest income:
Investment and brokerage services	8,154			7,959			2,682			2,749			2,723			2,763			2,713
All other income	1,318			1,413			410			465			443			434			494
Total noninterest income	9,472			9,372			3,092			3,214			3,166			3,197			3,207
Total revenue, net of interest expense (FTE basis)	13,558			13,802			4,468			4,573			4,517			4,603			4,666

Provision for credit losses	36			—			(2		)	15			23			14			(15		)

Noninterest expense	10,366			10,213			3,447			3,459			3,460			3,442			3,405
Income before income taxes (FTE basis)	3,156			3,589			1,023			1,099			1,034			1,147			1,276
Income tax expense (FTE basis)	1,161			1,325			367			410			384			442			464
Net income	$	1,995		$	2,264		$	656		$	689		$	650		$	705		$	812

Net interest yield (FTE basis)	2.14		%	2.38		%	2.12		%	2.17		%	2.13		%	2.24		%	2.33		%
Return on average allocated capital ⁽¹⁾	22			25			22			23			22			23			27
Efficiency ratio (FTE basis)	76.46			73.99			77.14			75.64			76.61			74.80			72.98

Balance Sheet
Average
Total loans and leases	$	129,881		$	118,505		$	133,168		$	130,270		$	126,129		$	123,544		$	121,002
Total earning assets ⁽²⁾	255,498			249,102			257,344			251,528			257,625			248,614			248,223
Total assets ⁽²⁾	272,715			267,779			274,192			268,835			275,130			266,717			266,324
Total deposits	242,507			240,716			243,980			239,974			243,561			238,835			239,352
Allocated capital ⁽¹⁾	12,000			12,000			12,000			12,000			12,000			12,000			12,000

Period end
Total loans and leases	$	134,630		$	122,395		$	134,630		$	132,377		$	127,556		$	125,431		$	122,395
Total earning assets ⁽²⁾	262,870			248,072			262,870			250,720			255,840			256,519			248,072
Total assets ⁽²⁾	279,155			266,240			279,155			267,021			272,777			274,887			266,240
Total deposits	246,172			238,710			246,172			237,624			244,080			245,391			238,710

⁽¹⁾


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	25



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Key Indicators
(Dollars in millions, except as noted)
	Nine Months Ended September 30					Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014		Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Revenue by Business
Merrill Lynch Global Wealth Management	$	11,234		$	11,429	$	3,694		$	3,792		$	3,748		$	3,827		$	3,874
U.S. Trust	2,271			2,326		756			764			751			759			775
Other ⁽¹⁾	53			47		18			17			18			17			17
Total revenue, net of interest expense (FTE basis)	$	13,558		$	13,802	$	4,468		$	4,573		$	4,517		$	4,603		$	4,666

Client Balances by Business, at period end
Merrill Lynch Global Wealth Management	$	1,942,623		$	2,004,391	$	1,942,623		$	2,051,514		$	2,043,447		$	2,033,801		$	2,004,391
U.S. Trust	375,751			381,054		375,751			388,829			391,105			387,491			381,054
Other ⁽¹⁾	78,110			76,640		78,110			81,318			75,295			76,705			76,640
Total client balances	$	2,396,484		$	2,462,085	$	2,396,484		$	2,521,661		$	2,509,847		$	2,497,997		$	2,462,085

Client Balances by Type, at period end
Long-term assets under management ⁽²⁾	$	798,887		$	811,403	$	798,887		$	849,046		$	841,966		$	826,171		$	811,403
Liquidity assets under management ⁽³⁾	78,106			76,603		78,106			81,314			75,291			76,701			76,603
Assets under management	876,993			888,006		876,993			930,360			917,257			902,872			888,006
Brokerage assets	1,026,355			1,073,858		1,026,355			1,079,084			1,076,277			1,081,434			1,073,858
Assets in custody	109,196			135,886		109,196			138,774			141,273			139,555			135,886
Deposits	246,172			238,710		246,172			237,624			244,080			245,391			238,710
Loans and leases ⁽⁴⁾	137,768			125,625		137,768			135,819			130,960			128,745			125,625
Total client balances	$	2,396,484		$	2,462,085	$	2,396,484		$	2,521,661		$	2,509,847		$	2,497,997		$	2,462,085

Assets Under Management Rollforward
Assets under management, beginning balance	$	902,872		$	821,449	$	930,360		$	917,257		$	902,872		$	888,006		$	878,741
Net long-term client flows	27,695			40,420		4,448			8,593			14,654			9,380			11,168
Net liquidity client flows	1,320			3,616		(3,210		)	6,023			(1,493		)	(255		)	5,910
Market valuation/other	(54,894		)	22,521		(54,605		)	(1,513		)	1,224			5,741			(7,813		)
Total assets under management, ending balance	$	876,993		$	888,006	$	876,993		$	930,360		$	917,257		$	902,872		$	888,006

Associates, at period end ⁽⁵⁾
Number of financial advisors	16,605			15,867		16,605			16,419			16,175			16,035			15,867
Total wealth advisors	18,037			17,039		18,037			17,798			17,508			17,231			17,039
Total client-facing professionals	20,535			19,727		20,535			20,312			20,018			19,750			19,727

Merrill Lynch Global Wealth Management Metrics
Financial advisor productivity ⁽⁶⁾ (in thousands)	$	1,027		$	1,064	$	1,000		$	1,041		$	1,041		$	1,070		$	1,077

U.S. Trust Metrics, at period end
Client-facing professionals	2,178			2,135		2,178			2,155			2,157			2,155			2,135


⁽¹⁾	Includes the results of BofA Global Capital Management, the cash management division of Bank of America, and certain administrative items.


⁽²⁾	Defined as assets under advisory and discretion of GWIM in which the duration of the investment strategy is longer than one year.


⁽³⁾	Defined as assets under advisory and discretion of GWIM in which the investment strategy seeks current income, while maintaining liquidity and capital preservation. The duration of these strategies is primarily less than one year.


⁽⁴⁾	Includes margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet.


⁽⁵⁾	Includes financial advisors in the Consumer Banking segment of 2,042, 2,049, 1,992, 1,950 and 1,868 at September 30, 2015, June 30, 2015, March 31, 2015, December 31, 2014 and September 30, 2014, respectively.


⁽⁶⁾	Financial advisor productivity is defined as annualized Merrill Lynch Global Wealth Management total revenue divided by the total number of financial advisors (excluding financial advisors in the Consumer Banking segment). Total revenue excludes corporate allocation of net interest income related to certain ALM activities.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	26



Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Net interest income (FTE basis)	$	6,818		$	7,396		$	2,345		$	2,213		$	2,260		$	2,415		$	2,450
Noninterest income:
Service charges	2,184			2,188			746			728			710			712			730
Investment banking fees	2,381			2,383			752			777			852			830			727
All other income	1,184			1,326			348			388			448			357			438
Total noninterest income	5,749			5,897			1,846			1,893			2,010			1,899			1,895
Total revenue, net of interest expense (FTE basis)	12,567			13,293			4,191			4,106			4,270			4,314			4,345

Provision for credit losses	452			353			179			177			96			(31		)	(64		)

Noninterest expense	5,952			6,200			2,020			1,932			2,000			1,969			2,016
Income before income taxes (FTE basis)	6,163			6,740			1,992			1,997			2,174			2,376			2,393
Income tax expense (FTE basis)	2,268			2,491			715			746			807			856			872
Net income	$	3,895		$	4,249		$	1,277		$	1,251		$	1,367		$	1,520		$	1,521

Net interest yield (FTE basis)	2.85		%	3.13		%	2.86		%	2.80		%	2.89		%	2.99		%	3.03		%
Return on average allocated capital ⁽¹⁾	15			17			14			14			16			18			18
Efficiency ratio (FTE basis)	47.36			46.65			48.17			47.06			46.86			45.63			46.39

Balance Sheet
Average
Total loans and leases	$	300,141		$	286,309		$	310,043		$	300,631		$	289,522		$	287,003		$	283,264
Total earnings assets ⁽²⁾	319,899			315,713			325,740			316,912			316,949			320,341			320,931
Total assets ⁽²⁾	364,659			361,306			370,246			361,867			361,771			365,143			364,565
Total deposits	290,327			286,633			296,321			288,117			286,434			292,096			291,927
Allocated capital ⁽¹⁾	35,000			33,500			35,000			35,000			35,000			33,500			33,500

Period end
Total loans and leases	$	315,224		$	284,908		$	315,224		$	307,085		$	295,653		$	288,905		$	284,908
Total earnings assets ⁽²⁾	327,313			310,962			327,313			322,977			318,775			308,419			310,962
Total assets ⁽²⁾	372,363			354,944			372,363			367,052			365,024			353,637			354,944
Total deposits	297,644			282,325			297,644			292,261			290,422			279,792			282,325

⁽¹⁾


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	27



Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
	Nine Months Ended September 30							Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014				Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Investment Banking fees ⁽¹⁾
Advisory ⁽²⁾	$	999		$	782			$	365		$	247		$	387		$	316		$	291
Debt issuance	1,031			1,153				325			371			335			379			318
Equity issuance	351			448				62			159			130			135			118
Total Investment Banking fees⁽³⁾	$	2,381		$	2,383			$	752		$	777		$	852		$	830		$	727

Business Lending
Corporate	$	2,413		$	2,620			$	816		$	708		$	889		$	800		$	878
Commercial	2,900			2,951				984			1,004			912			991			934
Business Banking	263			272				89			87			87			92			91
Total Business Lending revenue	$	5,576		$	5,843			$	1,889		$	1,799		$	1,888		$	1,883		$	1,903

Global Transaction Services
Corporate	$	2,079		$	2,245			$	715		$	706		$	658		$	746		$	766
Commercial	1,954			2,154				673			636			645			700			719
Business Banking	517			532				181			170			166			184			179
Total Global Transaction Services revenue	$	4,550		$	4,931			$	1,569		$	1,512		$	1,469		$	1,630		$	1,664

Average deposit balances
Interest-bearing	$	65,478		$	81,551		��	$	64,960		$	65,504		$	65,982		$	71,148		$	79,127
Noninterest-bearing	224,849			205,082				231,361			222,613			220,452			220,948			212,800
Total average deposits	$	290,327		$	286,633			$	296,321		$	288,117		$	286,434		$	292,096		$	291,927

Loan spread	1.63		%	1.74		%		1.61		%	1.60		%	1.68		%	1.69		%	1.70		%

Provision for credit losses	$	452		$	353			$	179		$	177		$	96		$	(31	)	$	(64	)

Credit quality ^{(4, 5)}
Reservable utilized criticized exposure	$	11,786		$	10,314			$	11,786		$	11,411		$	10,471		$	9,662		$	10,314
	3.46		%	3.32		%		3.46		%	3.44		%	3.28		%	3.07		%	3.32		%

Nonperforming loans, leases and foreclosed properties	$	899		$	1,080			$	899		$	1,179		$	979		$	892		$	1,080
	0.29		%	0.38		%		0.29		%	0.38		%	0.33		%	0.31		%	0.38		%

Average loans and leases by product
U.S. commercial	$	162,179		$	151,271			$	167,692		$	162,580		$	156,137		$	153,256		$	150,918
Commercial real estate	44,395			43,783				46,904			44,066			42,163			41,445			41,818
Commercial lease financing	25,889			25,238				26,486			25,728			25,442			25,105			25,127
Non-U.S. commercial	67,663			65,997				68,947			68,241			65,763			67,178			65,381
Other	15			20				14			16			17			19			20
Total average loans and leases	$	300,141		$	286,309			$	310,043		$	300,631		$	289,522		$	287,003		$	283,264

Total Corporation Investment Banking fees
Advisory ⁽²⁾	$	1,095		$	865			$	391		$	276		$	428		$	341		$	316
Debt issuance	2,416			2,701				748			887			781			883			784
Equity issuance	950			1,142				188			417			345			348			315
Total investment banking fees including self-led deals	4,461			4,708				1,327			1,580			1,554			1,572			1,415
Self-led deals	(161		)	(184		)		(40		)	(54		)	(67		)	(31		)	(64		)
Total Investment Banking fees	$	4,300		$	4,524			$	1,287		$	1,526		$	1,487		$	1,541		$	1,351


⁽¹⁾	Investment banking fees represent total investment banking fees for Global Banking inclusive of self-led deals and fees included within Business Lending.


⁽²⁾	Advisory includes fees on debt and equity advisory and mergers and acquisitions.


⁽³⁾	Investment banking fees represent only the fee component in Global Banking and do not include certain less significant items shared with the Investment Banking Group under internal revenue sharing agreements.

⁽⁴⁾

Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure is on an end-of-period basis and is also shown as a percentage of total commercial utilized reservable criticized exposure, including loans and leases, standby letters of credit, financial guarantees, commercial letters of credit and bankers' acceptances.


⁽⁵⁾	Nonperforming loans, leases and foreclosed properties are on an end-of-period basis. The nonperforming ratio is nonperforming assets divided by loans, leases and foreclosed properties.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	28



Bank of America Corporation and Subsidiaries
Investment Banking Product Rankings

	Nine Months Ended September 30, 2015
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
Net investment banking revenue	3	6.2	%	3	8.9	%
Announced mergers and acquisitions	4	21.8		5	23.3
Equity capital markets	5	5.8		2	9.6
Debt capital markets	2	6.3		2	10.4
High-yield corporate debt	3	7.9		2	9.6
Leveraged loans	2	8.8		2	11.7
Mortgage-backed securities	4	8.7		4	9.3
Asset-backed securities	1	11.5		1	15.9
Convertible debt	2	8.8		2	14.3
Common stock underwriting	5	5.5		7	8.8
Investment-grade corporate debt	2	6.6		2	12.2
Syndicated loans	2	8.5		2	12.3

Source: Dealogic data as of October 5, 2015. Figures above include self-led transactions.


•	Rankings based on deal volumes except net investment banking revenue rankings which reflect fees.


•	Debt capital markets excludes loans but includes agencies.


•	Mergers and acquisitions fees included in investment banking revenues reflect 10 percent fee credit at announcement and 90 percent fee credit at completion as per Dealogic.


•	Mergers and acquisitions volume rankings are for announced transactions and provide credit to all investment banks advising either side of the transaction.


•	Each advisor receives full credit for the deal amount unless advising a minor stakeholder.

Highlights



Global top 3 rankings in:
High-yield corporate debt		Investment-grade corporate debt
Leveraged loans		Syndicated loans
Asset-backed securities		Debt capital markets
Convertible debt

U.S. top 3 rankings in:
High-yield corporate debt		Investment-grade corporate debt
Leveraged loans		Syndicated loans
Asset-backed securities		Equity capital markets
Convertible debt		Debt capital markets

Top 3 rankings excluding self-led deals:


Global:	High-yield corporate debt, Leveraged loans, Mortgage-backed securities, Asset-backed securities, Convertible debt, Investment-grade corporate debt, Syndicated loans, Debt capital markets


U.S.:	High-yield corporate debt, Leveraged loans, Asset-backed securities, Convertible debt, Investment-grade corporate debt, Syndicated loans, Equity capital markets, Debt capital markets



This information is preliminary and based on company data available at the time of the presentation.	29



Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Net interest income (FTE basis)	$	3,172		$	2,968		$	1,135		$	1,028		$	1,009		$	1,036		$	999
Noninterest income:
Investment and brokerage services	1,703			1,654			574			556			573			551			533
Investment banking fees	1,869			2,073			521			718			630			670			577
Trading account profits	5,282			5,921			1,462			1,693			2,127			76			1,786
All other income	935			1,185			379			272			284			54			266
Total noninterest income	9,789			10,833			2,936			3,239			3,614			1,351			3,162
Total revenue, net of interest expense (FTE basis) ⁽¹⁾	12,961			13,801			4,071			4,267			4,623			2,387			4,161

Provision for credit losses	69			83			42			6			21			26			45

Noninterest expense	8,556			9,341			2,683			2,732			3,141			2,522			3,357
Income (loss) before income taxes (FTE basis)	4,336			4,377			1,346			1,529			1,461			(161		)	759
Income tax expense (benefit) (FTE basis)	1,392			1,597			338			537			517			(86		)	388
Net income (loss)	$	2,944		$	2,780		$	1,008		$	992		$	944		$	(75	)	$	371

Return on average allocated capital ⁽²⁾	11		%	11		%	11		%	11		%	11		%	n/m			4		%
Efficiency ratio (FTE basis)	66.01			67.68			65.91			64.01			67.95			105.63		%	80.70

Balance Sheet
Average
Total trading-related assets ⁽³⁾	$	439,267		$	447,887		$	431,477		$	442,509		$	443,951		$	455,536		$	446,491
Total loans and leases	61,798			63,409			66,392			61,908			56,992			58,108			62,959
Total earning assets ⁽³⁾	436,970			464,306			439,859			436,081			434,916			451,937			457,836
Total assets	599,472			606,205			597,103			602,735			598,594			611,829			599,977
Total deposits	38,813			40,769			37,050			39,718			39,699			40,941			39,345
Allocated capital ⁽²⁾	35,000			34,000			35,000			35,000			35,000			34,000			34,000

Period end
Total trading-related assets ⁽³⁾	$	407,493		$	433,597		$	407,493		$	406,404		$	424,996		$	418,860		$	433,597
Total loans and leases	70,159			62,705			70,159			66,026			63,019			59,388			62,705
Total earning assets ⁽³⁾	421,909			443,423			421,909			408,857			421,520			421,799			443,423
Total assets	579,776			598,804			579,776			580,953			586,843			579,594			598,804
Total deposits	36,019			39,133			36,019			39,326			38,668			40,746			39,133

Trading-related assets (average)
Trading account securities	$	195,842		$	201,986		$	196,884		$	197,116		$	193,491		$	201,868		$	201,964
Reverse repurchases	109,415			115,343			103,422			109,626			115,328			118,286			116,853
Securities borrowed	78,520			86,455			75,786			81,091			78,713			81,071			83,369
Derivative assets	55,490			44,103			55,385			54,676			56,419			54,311			44,305
Total trading-related assets ⁽³⁾	$	439,267		$	447,887		$	431,477		$	442,509		$	443,951		$	455,536		$	446,491


⁽¹⁾	Substantially all of Global Markets total revenue is sales and trading revenue and investment banking fees, with a small portion related to certain revenue sharing agreements with other business segments. For additional sales and trading revenue information, see page 31.

⁽²⁾


⁽³⁾	Trading-related assets include derivative assets, which are considered non-earning assets.

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	30



Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	Nine Months Ended September 30				Third Quarter 2015		Second Quarter 2015		First Quarter 2015		Fourth Quarter 2014		Third Quarter 2014
	2015		2014		Third Quarter 2015		Second Quarter 2015		First Quarter 2015		Fourth Quarter 2014		Third Quarter 2014
Sales and trading revenue ⁽¹⁾
Fixed income, currency and commodities	$	7,277	$	7,856	$	2,285	$	2,236	$	2,756	$	886	$	2,387
Equities	3,555		3,343		1,191		1,199		1,165		862		1,105
Total sales and trading revenue	$	10,832	$	11,199	$	3,476	$	3,435	$	3,921	$	1,748	$	3,492

Sales and trading revenue, excluding net debit valuation adjustment and funding valuation adjustment ⁽²⁾
Fixed income, currency and commodities	$	6,912	$	7,587	$	2,007	$	2,153	$	2,752	$	1,463	$	2,254
Equities	3,486		3,226		1,156		1,180		1,150		911		1,033
Total sales and trading revenue, excluding net debit valuation adjustment and funding valuation adjustment	$	10,398	$	10,813	$	3,163	$	3,333	$	3,902	$	2,374	$	3,287

Sales and trading revenue breakdown
Net interest income	$	2,883	$	2,696	$	1,039	$	924	$	920	$	942	$	912
Commissions	1,686		1,640		569		550		567		546		528
Trading	5,263		5,919		1,462		1,676		2,125		76		1,784
Other	1,000		944		406		285		309		184		268
Total sales and trading revenue	$	10,832	$	11,199	$	3,476	$	3,435	$	3,921	$	1,748	$	3,492


⁽¹⁾	Includes Global Banking sales and trading revenue of $295 million and $221 million for the nine months ended September 30, 2015 and 2014; $86 million, $134 million and $75 million for the third, second and first quarters of 2015, and $163 million and $67 million for the fourth and third quarters of 2014, respectively.

⁽²⁾

For this presentation, sales and trading revenue excludes net debit valuation adjustment (DVA) gains (losses) which include net DVA on derivatives and structured liabilities. Sales and trading revenue excluding net DVA gains (losses) represents a non-GAAP financial measure. In the fourth quarter of 2014, the Corporation adopted a funding valuation adjustment on uncollateralized derivatives in the Corporation's Global Markets business. This methodology seeks to account for the value of funding costs today rather than accruing the cost over the life of the derivatives. The adoption resulted in a one-time transitional charge of $497 million recorded in the fourth quarter of 2014.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	31



Bank of America Corporation and Subsidiaries
Legacy Assets & Servicing Segment Results
(Dollars in millions, except as noted)
	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Net interest income (FTE basis)	$	1,228		$	1,126		$	383		$	417		$	428		$	390		$	387
Noninterest income:
Mortgage banking income	1,409			812			266			682			461			241			152
All other income (loss)	207			104			192			(10		)	25			7			17
Total noninterest income	1,616			916			458			672			486			248			169
Total revenue, net of interest expense (FTE basis)	2,844			2,042			841			1,089			914			638			556

Provision for credit losses	154			240			6			57			91			(113		)	267

Noninterest expense	3,307			19,287			1,143			961			1,203			1,362			6,648
Income (loss) before income taxes (FTE basis)	(617		)	(17,485		)	(308		)	71			(380		)	(611		)	(6,359		)
Income tax expense (benefit) (FTE basis)	(227		)	(4,748		)	(112		)	26			(141		)	(231		)	(1,245		)
Net income (loss)	$	(390	)	$	(12,737	)	$	(196	)	$	45		$	(239	)	$	(380	)	$	(5,114	)

Net interest yield (FTE basis)	3.94		%	3.90		%	3.69		%	3.94		%	4.18		%	4.21		%	3.77		%
Return on average allocated capital ⁽¹⁾	n/m			n/m			n/m			1			n/m			n/m			n/m
Efficiency ratio (FTE basis)	n/m			n/m			n/m			88.26			n/m			n/m			n/m

Balance Sheet
Average
Total loans and leases	$	30,782		$	36,672		$	29,074		$	30,897		$	32,411		$	33,772		$	35,238
Total earning assets ⁽²⁾	41,678			38,625			41,179			42,367			41,492			36,693			40,718
Total assets ⁽²⁾	51,994			54,030			50,719			52,548			52,737			48,669			53,843
Allocated capital⁽¹⁾	24,000			17,000			24,000			24,000			24,000			17,000			17,000

Period end
Total loans and leases	$	27,982		$	34,484		$	27,982		$	30,024		$	31,690		$	33,055		$	34,484
Total earning assets ⁽²⁾	40,187			44,925			40,187			40,905			42,696			33,923			44,925
Total assets ⁽²⁾	49,080			56,908			49,080			50,959			53,644			45,958			56,908

Period end (in billions)
Mortgage serviced portfolio ⁽³⁾	$	580.0		$	722.0		$	580.0		$	610.0		$	669.0		$	693.0		$	722.0

⁽¹⁾


⁽²⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity


⁽³⁾	Includes servicing of residential mortgage loans, home equity lines of credit and home equity loans.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	32



Bank of America Corporation and Subsidiaries
Legacy Assets & Servicing Key Indicators
(Dollars in millions, except as noted)
	Nine Months Ended September 30								Third Quarter 2015				Second Quarter 2015				First Quarter 2015				Fourth Quarter 2014				Third Quarter 2014
	2015				2014				Third Quarter 2015				Second Quarter 2015				First Quarter 2015				Fourth Quarter 2014				Third Quarter 2014
Mortgage servicing rights at fair value rollforward:
Balance, beginning of period	$	3,271			$	5,042			$	3,201			$	3,108			$	3,271			$	3,986			$	4,134
Net additions	(16		)		202				53				(174		)		105				73				140
Amortization of expected cash flows ⁽¹⁾	(564		)		(620		)		(179		)		(187		)		(198		)		(198		)		(201		)
Other changes in mortgage servicing rights fair value ⁽²⁾	8				(638		)		(376		)		454				(70		)		(590		)		(87		)
Balance, end of period ⁽³⁾	$	2,699			$	3,986			$	2,699			$	3,201			$	3,108			$	3,271			$	3,986

Capitalized mortgage servicing rights (% of loans serviced for investors)	69			bps	81			bps	69			bps	78			bps	68			bps	69			bps	81			bps
Mortgage loans serviced for investors (in billions)	$	391			$	491			$	391			$	409			$	459			$	474			$	491

Mortgage banking income
Servicing income:
Servicing fees	$	1,167			$	1,496			$	345			$	392			$	430			$	461			$	471
Amortization of expected cash flows ⁽¹⁾	(564		)		(620		)		(179		)		(187		)		(198		)		(198		)		(201		)
Fair value changes of mortgage servicing rights, net of risk management activities used to hedge certain market risks ⁽⁴⁾	526				152				83				193				250				142				(19		)
Other servicing-related revenue	—				8				—				—				—				—				—
Total net servicing income	1,129				1,036				249				398				482				405				251
Representations and warranties provision	37				(447		)		(77		)		204				(90		)		(246		)		(152		)
Other mortgage banking income ⁽⁵⁾	243				223				94				80				69				82				53
Total Legacy Assets & Servicing mortgage banking income	$	1,409			$	812			$	266			$	682			$	461			$	241			$	152


⁽¹⁾	Represents the net change in fair value of the mortgage servicing rights asset due to the recognition of modeled cash flows.

⁽²⁾

These amounts reflect the changes in modeled mortgage servicing rights fair value primarily due to observed changes in interest rates, volatility, spreads and the shape of the forward swap curve and periodic adjustments to valuation based on third-party price discovery. In addition, these amounts reflect periodic adjustments to the valuation model to reflect changes in the modeled relationship between inputs and their impact on projected cash flows, changes in certain cash flow assumptions such as cost to service and ancillary income per loan and the impact of periodic recalibrations of the model to reflect changes in the relationship between market interest rate spreads and projected cash flows.


⁽³⁾	Does not include certain non-U.S. residential mortgage MSR balances, which are recorded in Global Markets.


⁽⁴⁾	Includes gains and losses on sales of mortgage servicing rights.


⁽⁵⁾	Consists primarily of revenue from sales of repurchased loans that had returned to performing status.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	33



Bank of America Corporation and Subsidiaries
All Other Results ⁽¹⁾
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Net interest income (FTE basis)	$	38		$	(175	)	$	(502	)	$	789		$	(249	)	$	(349	)	$	68
Noninterest income:
Card income	203			266			68			66			69			90			92
Equity investment income (loss)	(34		)	766			(46		)	11			1			(37		)	(26		)
Gains on sales of debt securities	810			1,149			385			162			263			161			410
All other income (loss)	(1,094		)	(1,832		)	(395		)	(262		)	(437		)	(610		)	(587		)
Total noninterest income	(115		)	349			12			(23		)	(104		)	(396		)	(111		)
Total revenue, net of interest expense (FTE basis)	(77		)	174			(490		)	766			(353		)	(745		)	(43		)

Provision for credit losses	(230		)	(647		)	(67		)	19			(182		)	(330		)	(265		)

Noninterest expense	1,998			2,434			80			416			1,502			483			254
Income (loss) before income taxes (FTE basis)	(1,845		)	(1,613		)	(503		)	331			(1,673		)	(898		)	(32		)
Income tax expense (benefit) (FTE basis)	(1,646		)	(2,059		)	(507		)	(306		)	(833		)	(524		)	(541		)
Net income (loss)	$	(199	)	$	446		$	4		$	637		$	(840	)	$	(374	)	$	509

Balance Sheet
Average
Total loans and leases	$	153,754		$	209,057		$	137,827		$	156,006		$	167,758		$	183,091		$	199,404
Total assets ⁽²⁾	259,031			283,356			264,385			257,062			255,547			263,189			272,554
Total deposits	21,508			33,759			22,605			22,482			19,406			22,163			29,879

Period end
Total loans and leases	$	130,713		$	188,356		$	130,713		$	146,557		$	159,885		$	172,612		$	188,356
Total equity investments	4,378			5,001			4,378			4,670			4,716			4,886			5,001
Total assets ⁽³⁾	257,480			266,345			257,480			272,033			252,233			261,583			266,345
Total deposits	21,771			25,419			21,771			22,964			19,467			19,242			25,419

⁽¹⁾

All Other consists of ALM activities, equity investments, the international consumer card business, liquidating businesses, residual expense allocations and other. ALM activities encompass residential mortgages, debt securities, interest rate and foreign currency risk management activities including the residual net interest income allocation, the impact of certain allocation methodologies and accounting hedge ineffectiveness. Beginning with new originations in 2014, we retain certain residential mortgages in Consumer Banking, consistent with where the overall relationship is managed; previously such mortgages were in All Other. Additionally, certain residential mortgage loans that are managed by Legacy Assets & Servicing are held in All Other. The results of certain ALM activities are allocated to our business segments. Equity investments include our merchant services joint venture as well as Global Principal Investments which is comprised of a portfolio of equity, real estate and other alternative investments.

⁽²⁾

Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $496.3 billion and $480.1 billion for the nine months ended September 30, 2015 and 2014; $494.3 billion, $493.0 billion, $501.7 billion, $483.2 billion and $490.6 billion for the third, second and first quarters of 2015, and the fourth and third quarters of 2014, respectively.


⁽³⁾	Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $493.7 billion, $488.5 billion, $512.5 billion, $474.6 billion and $483.4 billion at September 30, 2015, June 30, 2015, March 31, 2015, December 31, 2014 and September 30, 2014, respectively.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	34



Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	September 30 2015		June 30 2015		September 30 2014
Consumer
Residential mortgage ⁽¹⁾	$	187,939	$	198,825	$	224,728
Home equity	78,030		81,006		87,508
U.S. credit card	88,339		88,403		89,026
Non-U.S. credit card	10,066		10,276		11,433
Direct/Indirect consumer ⁽²⁾	87,314		84,754		83,118
Other consumer ⁽³⁾	2,012		2,000		2,152
Total consumer loans excluding loans accounted for under the fair value option	453,700		465,264		497,965
Consumer loans accounted for under the fair value option ⁽⁴⁾	1,944		1,971		2,129
Total consumer	455,644		467,235		500,094

Commercial
U.S. commercial ⁽⁵⁾	257,032		248,296		228,996
Commercial real estate ⁽⁶⁾	55,629		52,344		47,023
Commercial lease financing	25,680		25,342		24,498
Non-U.S. commercial	88,470		87,574		84,650
Total commercial loans excluding loans accounted for under the fair value option	426,811		413,556		385,167
Commercial loans accounted for under the fair value option ⁽⁴⁾	5,234		5,658		6,054
Total commercial	432,045		419,214		391,221
Total loans and leases	$	887,689	$	886,449	$	891,315


⁽¹⁾	Includes pay option loans of $2.4 billion, $2.6 billion and $3.3 billion at September 30, 2015, June 30, 2015 and September 30, 2014, respectively. The Corporation no longer originates pay option loans.

⁽²⁾

Includes auto and specialty lending loans of $41.7 billion, $39.6 billion and $37.9 billion, unsecured consumer lending loans of $999 million, $1.1 billion and $1.7 billion, U.S. securities-based lending loans of $39.2 billion, $38.6 billion and $34.6 billion, non-U.S. consumer loans of $3.9 billion, $4.0 billion and $4.3 billion, student loans of $581 million, $596 million and $3.6 billion and other consumer loans of $834 million, $809 million and $894 million at September 30, 2015, June 30, 2015 and September 30, 2014, respectively.


⁽³⁾	Includes consumer finance loans of $591 million, $618 million and $1.0 billion, consumer leases of $1.2 billion, $1.2 billion and $937 million, consumer overdrafts of $189 million, $227 million and $173 million and other non-U.S. consumer loans of $2 million, $3 million and $3 million at September 30, 2015, June 30, 2015 and September 30, 2014, respectively.

⁽⁴⁾

Consumer loans accounted for under the fair value option were residential mortgage loans of $1.7 billion, $1.8 billion and $2.0 billion and home equity loans of $225 million, $208 million and $179 million at September 30, 2015, June 30, 2015 and September 30, 2014, respectively. Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.2 billion, $2.3 billion and $1.3 billion and non-U.S. commercial loans of $3.0 billion, $3.4 billion and $4.8 billion at September 30, 2015, June 30, 2015 and September 30, 2014, respectively.


⁽⁵⁾	Includes U.S. small business commercial loans, including card-related products, of $13.1 billion, $13.2 billion and $13.5 billion at September 30, 2015, June 30, 2015 and September 30, 2014, respectively.


⁽⁶⁾	Includes U.S. commercial real estate loans of $51.8 billion, $48.6 billion and $45.1 billion and non-U.S. commercial real estate loans of $3.8 billion, $3.7 billion and $2.0 billion at September 30, 2015, June 30, 2015 and September 30, 2014, respectively.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	35



Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment
(Dollars in millions)
	Third Quarter 2015
	Total Corporation		Consumer Banking			GWIM		Global Banking		Global Markets			Legacy Assets & Servicing			All Other
Consumer
Residential mortgage	$	193,791	$	17,465		$	54,277	$	5	$	—		$	865		$	121,179
Home equity	79,715		43,688			5,689		4		209			28,190			1,935
U.S. credit card	88,201		85,163			3,038		—		—			—			—
Non-U.S. credit card	10,244		—			—		—		—			—			10,244
Direct/Indirect consumer	85,975		41,860			43,469		4		(13		)	—			655
Other consumer	1,980		1,367			5		1		(1		)	1			607
Total consumer	459,906		189,543			106,478		14		195			29,056			134,620

Commercial
U.S. commercial	251,908		16,772			24,343		167,692		38,649			18			4,434
Commercial real estate	53,605		22			2,110		46,904		4,427			—			142
Commercial lease financing	25,425		—			4		26,486		311			—			(1,376		)
Non-U.S. commercial	91,997		—			233		68,947		22,810			—			7
Total commercial	422,935		16,794			26,690		310,029		66,197			18			3,207
Total loans and leases	$	882,841	$	206,337		$	133,168	$	310,043	$	66,392		$	29,074		$	137,827

	Second Quarter 2015
	Total Corporation		Consumer Banking			GWIM		Global Banking		Global Markets			Legacy Assets & Servicing			All Other
Consumer
Residential mortgage	$	207,356	$	13,928		$	52,944	$	7	$	3		$	900		$	139,574
Home equity	82,640		44,662			5,919		4		206			29,977			1,872
U.S. credit card	87,460		84,385			3,075		—		—			—			—
Non-U.S. credit card	10,012		—			—		—		—			—			10,012
Direct/Indirect consumer	83,698		40,539			42,464		4		—			—			691
Other consumer	1,885		1,243			8		1		—			—			633
Total consumer	473,051		184,757			104,410		16		209			30,877			152,782

Commercial
U.S. commercial	244,540		16,923			23,608		162,580		36,993			20			4,416
Commercial real estate	50,478		24			2,049		44,066		4,173			—			166
Commercial lease financing	24,723		—			4		25,728		373			—			(1,382		)
Non-U.S. commercial	88,623		(1		)	199		68,241		20,160			—			24
Total commercial	408,364		16,946			25,860		300,615		61,699			20			3,224
Total loans and leases	$	881,415	$	201,703		$	130,270	$	300,631	$	61,908		$	30,897		$	156,006

	Third Quarter 2014
	Total Corporation		Consumer Banking			GWIM		Global Banking		Global Markets			Legacy Assets & Servicing			All Other
Consumer
Residential mortgage	$	235,272	$	7,523		$	49,610	$	6	$	—		$	950		$	177,183
Home equity	88,590		46,093			6,412		9		165			34,259			1,652
U.S. credit card	88,866		85,674			3,192		—		—			—			—
Non-U.S. credit card	11,784		—			—		—		—			—			11,784
Direct/Indirect consumer	82,669		39,763			38,555		4		17			—			4,330
Other consumer	2,110		1,042			5		1		—			(1		)	1,063
Total consumer	509,291		180,095			97,774		20		182			35,208			196,012

Commercial
U.S. commercial	230,891		17,247			21,283		150,918		36,894			30			4,519
Commercial real estate	46,069		31			1,797		41,818		2,201			—			222
Commercial lease financing	24,325		—			4		25,127		644			—			(1,450		)
Non-U.S. commercial	88,665		1			144		65,381		23,038			—			101
Total commercial	389,950		17,279			23,228		283,244		62,777			30			3,392
Total loans and leases	$	899,241	$	197,374		$	121,002	$	283,264	$	62,959		$	35,238		$	199,404

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	36



Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry ^{(1, 2, 3)}
(Dollars in millions)
	Commercial Utilized						Total Commercial Committed
	September 30 2015		June 30 2015		September 30 2014		September 30 2015			June 30 2015			September 30 2014
Diversified financials	$	75,761	$	68,976	$	68,739	$	119,248		$	114,441		$	112,957
Real estate ⁽⁴⁾	60,927		58,006		51,006		82,983			78,965			70,739
Retailing	38,080		36,731		34,129		63,931			63,136			56,326
Capital goods	31,985		30,566		29,116		58,400			55,057			52,469
Healthcare equipment and services	33,478		33,232		32,415		56,728			50,548			55,847
Banking	44,302		42,764		42,772		51,638			48,942			48,204
Government and public education	43,969		43,055		41,648		51,425			50,582			48,786
Energy	21,779		22,473		20,338		46,089			47,341			41,454
Materials	23,753		24,382		23,378		45,943			46,661			43,443
Consumer services	23,091		21,635		21,486		36,215			34,310			34,067
Food, beverage and tobacco	17,867		17,796		15,460		35,221			35,664			33,897
Commercial services and supplies	18,550		19,132		18,808		32,056			31,892			30,819
Transportation	18,997		18,391		16,149		27,491			26,006			23,307
Utilities	11,071		11,161		9,528		26,751			25,601			25,772
Media	12,667		12,181		11,886		23,993			27,153			22,971
Individuals and trusts	17,467		17,614		16,107		22,538			22,375			20,238
Software and services	7,566		5,607		5,641		18,287			14,451			12,783
Pharmaceuticals and biotechnology	5,448		6,049		4,433		16,715			13,054			15,066
Technology hardware and equipment	6,957		6,187		5,387		14,798			13,792			12,041
Consumer durables and apparel	5,907		6,110		5,690		10,657			10,633			10,015
Insurance, including monolines	4,587		4,404		5,023		10,611			10,154			11,169
Automobiles and components	4,108		4,799		3,768		10,492			10,185			9,420
Telecommunication services	4,373		3,934		3,702		9,953			9,990			9,008
Food and staples retailing	3,917		3,831		3,742		7,410			7,286			7,214
Religious and social organizations	4,718		4,700		4,978		6,269			6,257			6,586
Other	5,907		5,754		5,253		14,562			13,838			9,373
Total commercial credit exposure by industry	$	547,232	$	529,470	$	500,582	$	900,404		$	868,314		$	823,971
Net credit default protection purchased on total commitments ⁽⁵⁾							$	(6,494	)	$	(5,584	)	$	(6,878	)

⁽¹⁾

Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held-for-sale, commercial letters of credit, bankers' acceptances, securitized assets, foreclosed properties and other collateral acquired. Derivative assets are carried at fair value, reflect the effects of legally enforceable master netting agreements and have been reduced by the amount of cash collateral applied of $46.2 billion, $39.7 billion and $45.4 billion at September 30, 2015, June 30, 2015 and September 30, 2014, respectively. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $24.1 billion, $22.6 billion and $20.7 billion, which consists primarily of other marketable securities at September 30, 2015, June 30, 2015 and September 30, 2014, respectively.

⁽²⁾

Total commercial utilized and total commercial committed exposure include loans and letters of credit accounted for under the fair value option and are comprised of loans outstanding of $5.2 billion, $5.7 billion and $6.1 billion and issued letters of credit at notional value of $240 million, $246 million and $518 million at September 30, 2015, June 30, 2015 and September 30, 2014, respectively. In addition, total commercial committed exposure includes unfunded loan commitments at notional value of $7.9 billion at both September 30, 2015 and June 30, 2015, and $8.5 billion at September 30, 2014.


⁽³⁾	Includes U.S. small business commercial exposure.


⁽⁴⁾	Industries are viewed from a variety of perspectives to best isolate the perceived risks. For purposes of this table, the real estate industry is defined based on the borrowers' or counterparties' primary business activity using operating cash flows and primary source of repayment as key factors.


⁽⁵⁾	Represents net notional credit protection purchased.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	37



Bank of America Corporation and Subsidiaries
Net Credit Default Protection by Maturity Profile ⁽¹⁾

	September 30 2015		June 30 2015
Less than or equal to one year	33	%	35	%
Greater than one year and less than or equal to five years	62		63
Greater than five years	5		2
Total net credit default protection	100	%	100	%


⁽¹⁾	To mitigate the cost of purchasing credit protection, credit exposure can be added by selling credit protection. The distribution of maturities for net credit default protection purchased is shown in this table.



Net Credit Default Protection by Credit Exposure Debt Rating ⁽¹⁾
(Dollars in millions)
	September 30, 2015					June 30, 2015
Ratings ^{(2, 3)}	Net Notional ⁽⁴⁾			Percent of Total		Net Notional ⁽⁴⁾			Percent of Total
A	$	(959	)	14.8	%	$	(622	)	11.1	%
BBB	(2,368		)	36.5		(2,196		)	39.3
BB	(2,196		)	33.8		(1,908		)	34.2
B	(872		)	13.4		(762		)	13.6
CCC and below	(76		)	1.2		(70		)	1.3
NR ⁽⁵⁾	(23		)	0.3		(26		)	0.5
Total net credit default protection	$	(6,494	)	100.0	%	$	(5,584	)	100.0	%


⁽¹⁾	To mitigate the cost of purchasing credit protection, credit exposure can be added by selling credit protection. The distribution of debt rating for net notional credit default protection purchased is shown as a negative and the net notional credit protection sold is shown as a positive amount.


⁽²⁾	Ratings are refreshed on a quarterly basis.


⁽³⁾	Ratings of BBB- or higher are considered to meet the definition of investment grade.


⁽⁴⁾	Represents net credit default protection (purchased) sold.


⁽⁵⁾	NR is comprised of index positions held and any names that have not been rated.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	38



Bank of America Corporation and Subsidiaries
Top 20 Non-U.S. Countries Exposure
(Dollars in millions)
	Funded Loans and Loan Equivalents ⁽¹⁾		Unfunded Loan Commitments		Net Counterparty Exposure ⁽²⁾		Securities/ Other Investments ⁽³⁾		Country Exposure at September 30 2015		Hedges and Credit Default Protection ⁽⁴⁾			Net Country Exposure at September 30 2015 ⁽⁵⁾		Increase (Decrease) from June 30 2015
United Kingdom	$	28,155	$	13,745	$	8,315	$	5,498	$	55,713	$	(4,159	)	$	51,554	$	1,885
Canada	6,268		6,674		2,080		4,344		19,366		(1,136		)	18,230		404
Brazil	10,147		384		859		4,026		15,416		(253		)	15,163		(317		)
Japan	12,428		538		4,046		1,067		18,079		(3,099		)	14,980		(86		)
Germany	6,065		5,406		3,297		2,342		17,110		(4,546		)	12,564		(3,318		)
India	7,534		279		369		3,725		11,907		(274		)	11,633		1,079
China	9,875		625		679		1,311		12,490		(1,139		)	11,351		66
France	2,819		4,580		1,493		5,429		14,321		(3,621		)	10,700		(1,362		)
Hong Kong	7,469		295		1,391		656		9,811		(26		)	9,785		(29		)
Netherlands	3,007		3,028		864		2,465		9,364		(1,204		)	8,160		(64		)
Australia	3,256		2,868		780		1,559		8,463		(441		)	8,022		708
South Korea	4,134		991		1,009		2,225		8,359		(642		)	7,717		(272		)
Switzerland	2,876		3,168		454		680		7,178		(1,343		)	5,835		(1,257		)
Italy	2,714		1,486		1,627		1,249		7,076		(1,888		)	5,188		(300		)
Mexico	2,913		1,051		221		544		4,729		(316		)	4,413		940
Singapore	2,274		79		700		1,223		4,276		(54		)	4,222		(172		)
Israel	236		3,375		15		185		3,811		(20		)	3,791		3,313
Spain	2,098		581		281		1,029		3,989		(587		)	3,402		(302		)
Turkey	3,152		75		42		50		3,319		(131		)	3,188		133
United Arab Emirates	1,865		107		1,094		34		3,100		(110		)	2,990		113
Total top 20 non-U.S. countries exposure	$	119,285	$	49,335	$	29,616	$	39,641	$	237,877	$	(24,989	)	$	212,888	$	1,162


⁽¹⁾	Includes loans, leases, and other extensions of credit and funds, including letters of credit and due from placements, which have not been reduced by collateral, hedges or credit default protection. Funded loans and loan equivalents are reported net of charge-offs but prior to any allowance for loan and lease losses.

⁽²⁾

Net counterparty exposure includes the fair value of derivatives, including the counterparty risk associated with credit default swaps, and secured financing transactions. Derivative exposures are presented net of $32.9 billion in collateral, which is predominantly cash, pledged under legally enforceable master netting agreements. Secured financing transaction exposures are presented net of eligible cash or securities pledged as collateral. The notional amount of reverse repurchase transactions was $102.5 billion. Counterparty exposure is not presented net of hedges or credit default protection.


⁽³⁾	Long securities exposures are netted on a single-name basis to, but not below, zero by short exposures and net credit default swaps purchased, consisting of single-name and net indexed and tranched credit default swaps.


⁽⁴⁾	Represents credit default protection purchased, net of credit default protection sold, which is used to mitigate the Corporation's risk to country exposures as listed, consisting of net single-name and net indexed and tranched credit default swaps. Amounts are calculated based on the credit default swaps notional amount assuming a zero recovery rate less any fair value receivable or payable.


⁽⁵⁾	Represents country exposure less hedges and credit default protection purchased, net of credit default protection sold.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	39



Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	September 30 2015			June 30 2015			March 31 2015			December 31 2014			September 30 2014
Residential mortgage	$	5,242		$	5,985		$	6,421		$	6,889		$	8,118
Home equity	3,429			3,563			3,759			3,901			4,026
Direct/Indirect consumer	25			26			28			28			30
Other consumer	1			1			1			1			14
Total consumer	8,697			9,575			10,209			10,819			12,188
U.S. commercial	836			869			680			701			757
Commercial real estate	108			126			132			321			445
Commercial lease financing	17			19			16			3			7
Non-U.S. commercial	56			80			79			1			45
	1,017			1,094			907			1,026			1,254
U.S. small business commercial	85			78			89			87			98
Total commercial	1,102			1,172			996			1,113			1,352
Total nonperforming loans and leases	9,799			10,747			11,205			11,932			13,540
Foreclosed properties ⁽¹⁾	537			818			896			697			692
Total nonperforming loans, leases and foreclosed properties ^{(2, 3, 4)}	$	10,336		$	11,565		$	12,101		$	12,629		$	14,232

Fully-insured home loans past due 30 days or more and still accruing	$	10,467		$	11,871		$	12,743		$	14,617		$	16,280
Consumer credit card past due 30 days or more and still accruing	1,662			1,650			1,749			1,884			1,903
Other loans past due 30 days or more and still accruing	3,419			3,429			3,532			3,953			4,326
Total loans past due 30 days or more and still accruing ^{(3, 5, 6)}	$	15,548		$	16,950		$	18,024		$	20,454		$	22,509

Fully-insured home loans past due 90 days or more and still accruing	$	7,616		$	8,917		$	9,912		$	11,407		$	13,045
Consumer credit card past due 90 days or more and still accruing	799			828			883			961			935
Other loans past due 90 days or more and still accruing	203			195			173			286			609
Total loans past due 90 days or more and still accruing ^{(3, 5, 6)}	$	8,618		$	9,940		$	10,968		$	12,654		$	14,589

Nonperforming loans, leases and foreclosed properties/Total assets ⁽⁷⁾	0.48		%	0.54		%	0.57		%	0.60		%	0.67		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties ⁽⁷⁾	1.17			1.31			1.39			1.45			1.61
Nonperforming loans and leases/Total loans and leases ⁽⁷⁾	1.11			1.22			1.29			1.37			1.53

Commercial utilized reservable criticized exposure ⁽⁸⁾	$	13,571		$	13,312		$	12,303		$	11,570		$	11,766
Commercial utilized reservable criticized exposure/Commercial utilized reservable exposure ⁽⁸⁾	2.94		%	2.97		%	2.85		%	2.74		%	2.79		%
Total commercial utilized criticized exposure/Commercial utilized exposure ⁽⁸⁾	2.94			3.08			2.99			2.97			2.97


⁽¹⁾	Foreclosed property balances do not include properties insured by certain government-guaranteed loans, principally FHA-insured loans, that entered foreclosure of $1.3 billion, $1.3 billion, $1.2 billion, $1.1 billion and $1.1 billion at September 30, 2015, June 30, 2015, March 31, 2015, December 31, 2014 and September 30, 2014, respectively.


⁽²⁾	Balances do not include past due consumer credit card, consumer loans secured by real estate where repayments are insured by the Federal Housing Administration and individually insured long-term stand-by agreements (fully-insured home loans), and in general, other consumer and commercial loans not secured by real estate.


⁽³⁾	Balances do not include purchased credit-impaired loans even though the customer may be contractually past due. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.



⁽⁴⁾Balances do not include the following:	September 30 2015		June 30 2015		March 31 2015		December 31 2014		September 30 2014
Nonperforming loans held-for-sale	$	274	$	298	$	344	$	219	$	255
Nonperforming loans accounted for under the fair value option	321		339		380		392		436
Nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010	49		72		86		102		101

⁽⁵⁾

Balances do not include loans held-for-sale past due 30 days or more and still accruing of $73 million, $42 million, $125 million, $475 million and $42 million at September 30, 2015, June 30, 2015, March 31, 2015, December 31, 2014 and September 30, 2014, respectively, and loans held-for-sale past due 90 days or more and still accruing of $0, $0, $44 million, $249 million and $0 at September 30, 2015, June 30, 2015, March 31, 2015, December 31, 2014 and September 30, 2014, respectively. At September 30, 2015, June 30, 2015, March 31, 2015, December 31, 2014 and September 30, 2014, there were $142 million, $141 million, $132 million, $147 million and $147 million, respectively, of loans accounted for under the fair value option past due 30 days or more and still accruing interest.


⁽⁶⁾	These balances are excluded from total nonperforming loans, leases and foreclosed properties.


⁽⁷⁾	Total assets and total loans and leases do not include loans accounted for under the fair value option of $7.2 billion, $7.6 billion, $8.5 billion, $8.7 billion and $8.2 billion at September 30, 2015, June 30, 2015, March 31, 2015, December 31, 2014 and September 30, 2014, respectively.


⁽⁸⁾	Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure excludes loans held-for-sale, exposure accounted for under the fair value option and other nonreservable exposure.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	40



Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity ⁽¹⁾
(Dollars in millions)
	Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	9,575		$	10,209		$	10,819		$	12,188		$	13,460
Additions to nonperforming loans and leases:
New nonperforming loans and leases	1,029			1,424			1,469			1,709			1,516
Reductions to nonperforming loans and leases:
Paydowns and payoffs	(262		)	(289		)	(253		)	(310		)	(522		)
Sales	(447		)	(542		)	(371		)	(1,347		)	(957		)
Returns to performing status ⁽²⁾	(722		)	(631		)	(867		)	(728		)	(810		)
Charge-offs ⁽³⁾	(375		)	(484		)	(460		)	(533		)	(431		)
Transfers to foreclosed properties	(101		)	(112		)	(128		)	(160		)	(183		)
Transfers from loans held-for-sale	—			—			—			—			115
Total net reductions to nonperforming loans and leases	(878		)	(634		)	(610		)	(1,369		)	(1,272		)
Total nonperforming consumer loans and leases, end of period	8,697			9,575			10,209			10,819			12,188
Foreclosed properties	479			553			632			630			614
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	9,176		$	10,128		$	10,841		$	11,449		$	12,802

Nonperforming Commercial Loans and Leases ⁽⁴⁾:
Balance, beginning of period	$	1,172		$	996		$	1,113		$	1,352		$	1,216
Additions to nonperforming loans and leases:
New nonperforming loans and leases	205			419			287			214			477
Advances	11			15			2			6			33
Reductions to nonperforming loans and leases:
Paydowns	(145		)	(103		)	(110		)	(202		)	(161		)
Sales	—			(65		)	(16		)	(81		)	(12		)
Return to performing status ⁽⁵⁾	(47		)	(27		)	(24		)	(77		)	(80		)
Charge-offs	(93		)	(56		)	(51		)	(95		)	(116		)
Transfers to foreclosed properties	(1		)	(7		)	(205		)	(4		)	(5		)
Total net additions (reductions) to nonperforming loans and leases	(70		)	176			(117		)	(239		)	136
Total nonperforming commercial loans and leases, end of period	1,102			1,172			996			1,113			1,352
Foreclosed properties	58			265			264			67			78
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	1,160		$	1,437		$	1,260		$	1,180		$	1,430


⁽¹⁾	For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 40.

⁽²⁾

Consumer loans and leases may be returned to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected, or when the loan otherwise becomes well-secured and is in the process of collection. Certain troubled debt restructurings are classified as nonperforming at the time of restructuring and may only be returned to performing status after considering the borrower's sustained repayment performance for a reasonable period, generally six months.


⁽³⁾	Our policy is not to classify consumer credit card and non-bankruptcy related consumer loans not secured by real estate as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity and, accordingly, are excluded from this table.


⁽⁴⁾	Includes U.S. small business commercial activity. Small business card loans are excluded as they are not classified as nonperforming.

⁽⁵⁾

Commercial loans and leases may be returned to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected, or when the loan otherwise becomes well-secured and is in the process of collection. Troubled debt restructurings are generally classified as performing after a sustained period of demonstrated payment performance.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	41



Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios ^{(1, 2)}
(Dollars in millions)
	Third Quarter 2015					Second Quarter 2015					First Quarter 2015					Fourth Quarter 2014					Third Quarter 2014
Net Charge-offs	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Residential mortgage ⁽³⁾	$	26		0.05	%	$	177		0.35	%	$	197		0.37	%	$	(259	)	(0.46	)%	$	53		0.09	%
Home equity	120			0.60		151			0.73		172			0.82		277			1.27		89			0.40
U.S. credit card	546			2.46		584			2.68		621			2.84		612			2.71		625			2.79
Non-U.S. credit card	47			1.83		51			2.03		44			1.80		52			1.90		67			2.26
Direct/Indirect consumer	25			0.12		24			0.11		34			0.17		44			0.21		34			0.17
Other consumer	57			11.21		33			7.00		49			10.88		68			13.31		56			10.48
Total consumer	821			0.71		1,020			0.87		1,117			0.95		794			0.64		924			0.72
U.S. commercial ⁽⁴⁾	52			0.09		(1		)	—		7			0.01		19			0.04		58			0.11
Commercial real estate	(10		)	(0.08	)	(4		)	(0.03	)	5			0.04		(8		)	(0.07	)	(6		)	(0.05	)
Commercial lease financing	3			0.06		—			—		5			0.09		1			0.02		(3		)	(0.05	)
Non-U.S. commercial	9			0.04		2			0.01		(2		)	(0.01	)	2			0.01		1			—
	54			0.05		(3		)	—		15			0.02		14			0.02		50			0.05
U.S. small business commercial	57			1.72		51			1.56		62			1.90		71			2.10		69			2.03
Total commercial	111			0.11		48			0.05		77			0.08		85			0.09		119			0.12
Total net charge-offs	$	932		0.42		$	1,068		0.49		$	1,194		0.56		$	879		0.40		$	1,043		0.46

By Business Segment
Consumer Banking	$	715		1.37	%	$	726		1.44	%	$	806		1.64	%	$	832		1.66	%	$	815		1.64	%
Global Wealth & Investment Management	17			0.05		17			0.05		18			0.06		36			0.12		6			0.02
Global Banking	53			0.07		(2		)	—		6			0.01		2			—		52			0.07
Legacy Assets & Servicing	74			1.05		99			1.32		122			1.56		199			2.40		42			0.48
All Other	73			0.21		228			0.59		242			0.59		(190		)	(0.41	)	128			0.26
Total net charge-offs	$	932		0.42		$	1,068		0.49		$	1,194		0.56		$	879		0.40		$	1,043		0.46

⁽¹⁾

Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding loans and leases excluding loans accounted for under the fair value option during the period for each loan and lease category. Excluding the purchased credit-impaired loan portfolio, total annualized net charge-offs as a percentage of total average loans and leases outstanding were 0.43, 0.50, 0.57, 0.41 and 0.48 for the three months ended September 30, 2015, June 30, 2015, March 31, 2015, December 31, 2014 and September 30, 2014, respectively.

⁽²⁾

Excludes write-offs of purchased credit-impaired loans of $148 million, $290 million, $288 million, $13 million and $246 million for the three months ended September 30, 2015, June 30, 2015, March 31, 2015, December 31, 2014 and September 30, 2014, respectively. Including the write-offs of purchased credit-impaired loans, total annualized net charge-offs and purchased credit-impaired write-offs as a percentage of total average loans and leases outstanding were 0.49, 0.62, 0.70, 0.40 and 0.57 for the three months ended September 30, 2015, June 30, 2015, March 31, 2015, December 31, 2014 and September 30, 2014, respectively.


⁽³⁾	Includes nonperforming loan sales recoveries and other recoveries of $57 million, $22 million, $40 million, $314 million and $39 million for the three months ended September 30, 2015, June 30, 2015, March 31, 2015, December 31, 2014 and September 30, 2014, respectively.


⁽⁴⁾	Excludes U.S. small business commercial loans.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	42



Bank of America Corporation and Subsidiaries
Year-to-Date Net Charge-offs and Net Charge-off Ratios ^{(1, 2)}
(Dollars in millions)
	Nine Months Ended September 30
	2015					2014
Net Charge-offs	Amount			Percent		Amount			Percent
Residential mortgage⁽³⁾	$	400		0.26	%	$	145		0.08	%
Home equity	443			0.72		630			0.93
U.S. credit card	1,751			2.66		2,026			3.05
Non-U.S. credit card	142			1.88		190			2.17
Direct/Indirect consumer	83			0.13		125			0.20
Other consumer	139			9.72		161			10.58
Total consumer	2,958			0.84		3,277			0.85
U.S. commercial ⁽⁴⁾	58			0.03		69			0.04
Commercial real estate	(9		)	(0.02	)	(75		)	(0.21	)
Commercial lease financing	8			0.04		(10		)	(0.05	)
Non-U.S. commercial	9			0.01		32			0.05
	66			0.02		16			0.01
U.S. small business commercial	170			1.73		211			2.11
Total commercial	236			0.08		227			0.08
Total net charge-offs	$	3,194		0.49		$	3,504		0.52

By Business Segment
Consumer Banking	$	2,247		1.48	%	$	2,665		1.81	%
Global Wealth & Investment Management	52			0.05		35			0.04
Global Banking	57			0.03		29			0.01
Global Markets	—			—		2			0.01
Legacy Assets & Servicing	295			1.32		428			1.60
All Other	543			0.48		345			0.22
Total net charge-offs	$	3,194		0.49		$	3,504		0.52

⁽¹⁾

Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding loans and leases excluding loans accounted for under the fair value option during the period for each loan and lease category. Excluding the purchased credit-impaired loan portfolio, total annualized net charge-offs as a percentage of total average loans and leases outstanding were 0.50 and 0.53 for the nine months ended September 30, 2015 and 2014.

⁽²⁾

Excludes write-offs of purchased credit-impaired loans of $726 million and $797 million for the nine months ended September 30, 2015 and 2014. Including the write-offs of purchased credit-impaired loans, total annualized net charge-offs and purchased credit-impaired write-offs as a percentage of total average loans and leases outstanding were 0.60 and 0.64 for the nine months ended September 30, 2015 and 2014.


⁽³⁾	Includes nonperforming loan sales recoveries and other recoveries of $119 million and $224 million for the nine months ended September 30, 2015 and 2014.


⁽⁴⁾	Excludes U.S. small business commercial loans.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	43



Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	September 30, 2015						June 30, 2015							September 30, 2014
Allowance for loan and lease losses	Amount		Percent of Total		Percent of Loans and Leases Outstanding ^{(1, 2)}		Amount			Percent of Total		Percent of Loans and Leases Outstanding ^{(1, 2)}		Amount		Percent of Total		Percent of Loans and Leases Outstanding ^{(1, 2)}
Residential mortgage	$	1,755	13.87	%	0.93	%	$	1,997		15.28	%	1.00	%	$	3,022	20.01	%	1.34	%
Home equity	2,645		20.90		3.39		2,744			21.00		3.39		3,454		22.87		3.95
U.S. credit card	2,973		23.49		3.37		3,060			23.42		3.46		3,395		22.47		3.81
Non-U.S. credit card	299		2.36		2.97		339			2.59		3.30		388		2.57		3.39
Direct/Indirect consumer	234		1.85		0.27		254			1.94		0.30		331		2.19		0.40
Other consumer	46		0.36		2.33		49			0.37		2.45		84		0.55		3.90
Total consumer	7,952		62.83		1.75		8,443			64.60		1.81		10,674		70.66		2.14
U.S. commercial ⁽³⁾	2,749		21.72		1.07		2,694		��	20.62		1.08		2,587		17.12		1.13
Commercial real estate	1,084		8.56		1.95		1,041			7.97		1.99		1,030		6.82		2.19
Commercial lease financing	160		1.26		0.62		157			1.20		0.62		157		1.04		0.64
Non-U.S. commercial	712		5.63		0.80		733			5.61		0.84		658		4.36		0.78
Total commercial ⁽⁴⁾	4,705		37.17		1.10		4,625			35.40		1.12		4,432		29.34		1.15
Allowance for loan and lease losses	12,657		100.00	%	1.44		13,068			100.00	%	1.49		15,106		100.00	%	1.71
Reserve for unfunded lending commitments	661						588							529
Allowance for credit losses	$	13,318					$	13,656						$	15,635

Asset Quality Indicators

Allowance for loan and lease losses/Total loans and leases ⁽²⁾			1.44	%						1.49	%					1.71	%
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total loans and leases (excluding purchased credit-impaired loans) ^{(2, 5)}			1.36							1.39						1.57
Allowance for loan and lease losses/Total nonperforming loans and leases⁽⁶⁾			129							122						112
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total nonperforming loans and leases ⁽⁵⁾			120							111						100
Ratio of the allowance for loan and lease losses/Annualized net charge-offs ⁽⁷⁾			3.42							3.05						3.65
Ratio of the allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Annualized net charge-offs ^{(5, 7)}			3.18							2.79						3.27
Ratio of the allowance for loan and lease losses/Annualized net charge-offs and purchased credit-impaired write-offs			2.95							2.40						2.95

⁽¹⁾

Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans accounted for under the fair value option. Consumer loans accounted for under the fair value option included residential mortgage loans of $1.7 billion, $1.8 billion and $2.0 billion and home equity loans of $225 million, $208 million and $179 million at September 30, 2015, June 30, 2015 and September 30, 2014, respectively. Commercial loans accounted for under the fair value option included U.S. commercial loans of $2.2 billion, $2.3 billion and $1.3 billion and non-U.S. commercial loans of $3.0 billion, $3.4 billion and $4.8 billion at September 30, 2015, June 30, 2015 and September 30, 2014, respectively.


⁽²⁾	Total loans and leases do not include loans accounted for under the fair value option of $7.2 billion, $7.6 billion and $8.2 billion at September 30, 2015, June 30, 2015 and September 30, 2014, respectively.


⁽³⁾	Includes allowance for loan and lease losses for U.S. small business commercial loans of $520 million, $525 million and $530 million at September 30, 2015, June 30, 2015 and September 30, 2014, respectively.


⁽⁴⁾	Includes allowance for loan and lease losses for impaired commercial loans of $154 million, $156 million and $188 million at September 30, 2015, June 30, 2015 and September 30, 2014, respectively.


⁽⁵⁾	Excludes valuation allowance on purchased credit-impaired loans of $886 million, $1.1 billion and $1.6 billion at September 30, 2015, June 30, 2015 and September 30, 2014, respectively.

⁽⁶⁾

Allowance for loan and lease losses includes $4.7 billion, $5.1 billion and $6.0 billion allocated to products (primarily the Consumer Lending portfolios within Consumer Banking and purchased credit-impaired loans) that are excluded from nonperforming loans and leases at September 30, 2015, June 30, 2015 and September 30, 2014, respectively. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 81 percent, 75 percent and 67 percent at September 30, 2015, June 30, 2015 and September 30, 2014, respectively.


⁽⁷⁾	Net charge-offs exclude $148 million, $290 million and $246 million of write-offs in the purchased credit-impaired loan portfolio at September 30, 2015, June 30, 2015 and September 30, 2014. These write-offs decreased the purchased credit-impaired valuation allowance included as part of the allowance for loan and lease losses.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	44



Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)

The Corporation evaluates its business based on a fully taxable-equivalent basis, a non-GAAP financial measure. The Corporation believes managing the business with net interest income on a fully taxable-equivalent basis provides a more accurate picture of the interest margin for comparative purposes. Total revenue, net of interest expense, includes net interest income on a fully taxable-equivalent basis and noninterest income. The Corporation views related ratios and analyses (i.e., efficiency ratios and net interest yield) on a fully taxable-equivalent basis. To derive the fully taxable-equivalent basis, net interest income is adjusted to reflect tax-exempt income on an equivalent before-tax basis with a corresponding increase in income tax expense. For purposes of this calculation, the Corporation uses the federal statutory tax rate of 35 percent. This measure ensures comparability of net interest income arising from taxable and tax-exempt sources. The efficiency ratio measures the costs expended to generate a dollar of revenue, and net interest yield measures the basis points the Corporation earns over the cost of funds.

The Corporation also evaluates its business based on the following ratios that utilize tangible equity, a non-GAAP financial measure. Tangible equity represents an adjusted shareholders' equity or common shareholders' equity amount which has been reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible common shareholders' equity measures the Corporation's earnings contribution as a percentage of adjusted average common shareholders' equity. The tangible common equity ratio represents adjusted ending common shareholders' equity divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible shareholders' equity measures the Corporation's earnings contribution as a percentage of adjusted average total shareholders' equity. The tangible equity ratio represents adjusted ending shareholders' equity divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Tangible book value per common share represents adjusted ending common shareholders' equity divided by ending common shares outstanding. These measures are used to evaluate the Corporation's use of equity. In addition, profitability, relationship and investment models all use return on average tangible shareholders' equity as key measures to support our overall growth goals.

In addition, the Corporation periodically reviews capital allocated to its businesses and allocates capital annually during the strategic and capital planning processes. We utilize a methodology that considers the effect of regulatory capital requirements in addition to internal risk-based capital models. The Corporation's internal risk-based capital models use a risk-adjusted methodology incorporating each segment's credit, market, interest rate, business and operational risk components. Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return both represent non-GAAP financial measures. Allocated capital is reviewed periodically and refinements are made based on multiple considerations that include, but are not limited to, risk-weighted assets measured under Basel 3 Standardized and Advanced approaches, business segment exposures and risk profile, and strategic plans. As part of this process, in 2015, the Corporation adjusted the amount of capital being allocated to its business segments, primarily Legacy Assets & Servicing.

See the tables below and on pages 46-48 for reconciliations of these non-GAAP financial measures to financial measures defined by GAAP for the nine months ended September 30, 2015 and 2014 and the three months ended September 30, 2015, June 30, 2015, March 31, 2015, December 31, 2014 and September 30, 2014. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate supplemental financial data differently.



	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014

Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income	$	29,450		$	30,317		$	9,511		$	10,488		$	9,451		$	9,635		$	10,219
Fully taxable-equivalent adjustment	678			639			231			228			219			230			225
Net interest income on a fully taxable-equivalent basis	$	30,128		$	30,956		$	9,742		$	10,716		$	9,670		$	9,865		$	10,444

Reconciliation of total revenue, net of interest expense to total revenue, net of interest expense on a fully taxable-equivalent basis
Total revenue, net of interest expense	$	64,001		$	65,522		$	20,682		$	22,117		$	21,202		$	18,725		$	21,209
Fully taxable-equivalent adjustment	678			639			231			228			219			230			225
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	64,679		$	66,161		$	20,913		$	22,345		$	21,421		$	18,955		$	21,434

Reconciliation of income tax expense to income tax expense on a fully taxable-equivalent basis
Income tax expense	$	5,145		$	762		$	1,561		$	2,199		$	1,385		$	1,260		$	663
Fully taxable-equivalent adjustment	678			639			231			228			219			230			225
Income tax expense on a fully taxable-equivalent basis	$	5,823		$	1,401		$	1,792		$	2,427		$	1,604		$	1,490		$	888

Reconciliation of average common shareholders' equity to average tangible common shareholders' equity
Common shareholders' equity	$	228,609		$	222,598		$	231,620		$	228,780		$	225,357		$	224,479		$	222,374
Goodwill	(69,775		)	(69,818		)	(69,774		)	(69,775		)	(69,776		)	(69,782		)	(69,792		)
Intangible assets (excluding mortgage servicing rights)	(4,307		)	(5,232		)	(4,099		)	(4,307		)	(4,518		)	(4,747		)	(4,992		)
Related deferred tax liabilities	1,885			2,114			1,811			1,885			1,959			2,019			2,077
Tangible common shareholders' equity	$	156,412		$	149,662		$	159,558		$	156,583		$	153,022		$	151,969		$	149,667

Reconciliation of average shareholders' equity to average tangible shareholders' equity
Shareholders' equity	$	250,260		$	236,806		$	253,893		$	251,054		$	245,744		$	243,454		$	238,040
Goodwill	(69,775		)	(69,818		)	(69,774		)	(69,775		)	(69,776		)	(69,782		)	(69,792		)
Intangible assets (excluding mortgage servicing rights)	(4,307		)	(5,232		)	(4,099		)	(4,307		)	(4,518		)	(4,747		)	(4,992		)
Related deferred tax liabilities	1,885			2,114			1,811			1,885			1,959			2,019			2,077
Tangible shareholders' equity	$	178,063		$	163,870		$	181,831		$	178,857		$	173,409		$	170,944		$	165,333

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	45



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014

Reconciliation of period-end common shareholders' equity to period-end tangible common shareholders' equity
Common shareholders' equity	$	233,632		$	220,768		$	233,632		$	229,386		$	227,915		$	224,162		$	220,768
Goodwill	(69,761		)	(69,784		)	(69,761		)	(69,775		)	(69,776		)	(69,777		)	(69,784		)
Intangible assets (excluding mortgage servicing rights)	(3,973		)	(4,849		)	(3,973		)	(4,188		)	(4,391		)	(4,612		)	(4,849		)
Related deferred tax liabilities	1,762			2,019			1,762			1,813			1,900			1,960			2,019
Tangible common shareholders' equity	$	161,660		$	148,154		$	161,660		$	157,236		$	155,648		$	151,733		$	148,154

Reconciliation of period-end shareholders' equity to period-end tangible shareholders' equity
Shareholders' equity	$	255,905		$	238,681		$	255,905		$	251,659		$	250,188		$	243,471		$	238,681
Goodwill	(69,761		)	(69,784		)	(69,761		)	(69,775		)	(69,776		)	(69,777		)	(69,784		)
Intangible assets (excluding mortgage servicing rights)	(3,973		)	(4,849		)	(3,973		)	(4,188		)	(4,391		)	(4,612		)	(4,849		)
Related deferred tax liabilities	1,762			2,019			1,762			1,813			1,900			1,960			2,019
Tangible shareholders' equity	$	183,933		$	166,067		$	183,933		$	179,509		$	177,921		$	171,042		$	166,067

Reconciliation of period-end assets to period-end tangible assets
Assets	$	2,153,006		$	2,123,613		$	2,153,006		$	2,149,034		$	2,143,545		$	2,104,534		$	2,123,613
Goodwill	(69,761		)	(69,784		)	(69,761		)	(69,775		)	(69,776		)	(69,777		)	(69,784		)
Intangible assets (excluding mortgage servicing rights)	(3,973		)	(4,849		)	(3,973		)	(4,188		)	(4,391		)	(4,612		)	(4,849		)
Related deferred tax liabilities	1,762			2,019			1,762			1,813			1,900			1,960			2,019
Tangible assets	$	2,081,034		$	2,050,999		$	2,081,034		$	2,076,884		$	2,071,278		$	2,032,105		$	2,050,999

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	46



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Reconciliation of return on average allocated capital ⁽¹⁾

Consumer Banking
Reported net income	$	4,940		$	4,781		$	1,759		$	1,706		$	1,475		$	1,654		$	1,669
Adjustment related to intangibles ⁽²⁾	3			3			1			1			1			1			1
Adjusted net income	$	4,943		$	4,784		$	1,760		$	1,707		$	1,476		$	1,655		$	1,670

Average allocated equity ⁽³⁾	$	59,330		$	60,401		$	59,312		$	59,330		$	59,347		$	60,366		$	60,385
Adjustment related to goodwill and a percentage of intangibles	(30,330		)	(30,401		)	(30,312		)	(30,330		)	(30,347		)	(30,366		)	(30,385		)
Average allocated capital	$	29,000		$	30,000		$	29,000		$	29,000		$	29,000		$	30,000		$	30,000

Global Wealth & Investment Management
Reported net income	$	1,995		$	2,264		$	656		$	689		$	650		$	705		$	812
Adjustment related to intangibles ⁽²⁾	9			10			3			3			3			3			3
Adjusted net income	$	2,004		$	2,274		$	659		$	692		$	653		$	708		$	815

Average allocated equity ⁽³⁾	$	22,135		$	22,223		$	22,132		$	22,106		$	22,168		$	22,186		$	22,204
Adjustment related to goodwill and a percentage of intangibles	(10,135		)	(10,223		)	(10,132		)	(10,106		)	(10,168		)	(10,186		)	(10,204		)
Average allocated capital	$	12,000		$	12,000		$	12,000		$	12,000		$	12,000		$	12,000		$	12,000

Global Banking
Reported net income	$	3,895		$	4,249		$	1,277		$	1,251		$	1,367		$	1,520		$	1,521
Adjustment related to intangibles ⁽²⁾	1			1			1			—			—			—			—
Adjusted net income	$	3,896		$	4,250		$	1,278		$	1,251		$	1,367		$	1,520		$	1,521

Average allocated equity ⁽³⁾	$	58,934		$	57,432		$	58,947		$	58,978		$	58,877		$	57,420		$	57,421
Adjustment related to goodwill and a percentage of intangibles	(23,934		)	(23,932		)	(23,947		)	(23,978		)	(23,877		)	(23,920		)	(23,921		)
Average allocated capital	$	35,000		$	33,500		$	35,000		$	35,000		$	35,000		$	33,500		$	33,500

Global Markets
Reported net income (loss)	$	2,944		$	2,780		$	1,008		$	992		$	944		$	(75	)	$	371
Adjustment related to intangibles ⁽²⁾	9			7			5			2			2			2			2
Adjusted net income (loss)	$	2,953		$	2,787		$	1,013		$	994		$	946		$	(73	)	$	373

Average allocated equity ⁽³⁾	$	40,405		$	39,394		$	40,351		$	40,432		$	40,432		$	39,395		$	39,401
Adjustment related to goodwill and a percentage of intangibles	(5,405		)	(5,394		)	(5,351		)	(5,432		)	(5,432		)	(5,395		)	(5,401		)
Average allocated capital	$	35,000		$	34,000		$	35,000		$	35,000		$	35,000		$	34,000		$	34,000

For footnotes see page 48.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	47



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2015			Second Quarter 2015			Third Quarter 2014
	2015			2014			Third Quarter 2015			Second Quarter 2015			Third Quarter 2014
Consumer Banking

Deposits
Reported net income	$	1,957		$	1,852		$	695		$	726		$	651
Adjustment related to intangibles ⁽²⁾	—			—			—			—			—
Adjusted net income	$	1,957		$	1,852		$	695		$	726		$	651

Average allocated equity ⁽³⁾	$	30,422		$	29,426		$	30,421		$	30,422		$	29,427
Adjustment related to goodwill and a percentage of intangibles	(18,422		)	(18,426		)	(18,421		)	(18,422		)	(18,427		)
Average allocated capital	$	12,000		$	11,000		$	12,000		$	12,000		$	11,000

Consumer Lending
Reported net income	$	2,983		$	2,929		$	1,064		$	980		$	1,018
Adjustment related to intangibles ⁽²⁾	3			3			1			1			1
Adjusted net income	$	2,986		$	2,932		$	1,065		$	981		$	1,019

Average allocated equity ⁽³⁾	$	28,907		$	30,975		$	28,891		$	28,907		$	30,958
Adjustment related to goodwill and a percentage of intangibles	(11,907		)	(11,975		)	(11,891		)	(11,907		)	(11,958		)
Average allocated capital	$	17,000		$	19,000		$	17,000		$	17,000		$	19,000


⁽¹⁾	There are no adjustments to reported net income (loss) or average allocated equity for Legacy Assets & Servicing.


⁽²⁾	Represents cost of funds, earnings credits and certain expenses related to intangibles.


⁽³⁾	Average allocated equity is comprised of average allocated capital plus capital for the portion of goodwill and intangibles specifically assigned to the business segment.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	48

Bank of America (BAC) 8-KResults of Operations and Financial Condition