Supplemental Information

Fourth Quarter 2017

Current period 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
Consolidated Statement of Income	3
Consolidated Statement of Comprehensive Income	4
Consolidated Balance Sheet	5
Capital Management	7
Regulatory Capital Reconciliations	8
Quarterly Average Balances and Interest Rates	9
Annual Average Balances and Interest Rates	11
Debt Securities and Available-for-Sale Marketable Equity Securities	13
Supplemental Financial Data	14
Quarterly Results by Business Segment and All Other	15
Annual Results by Business Segment and All Other	17
Consumer Banking
Total Segment Results	18
Business Results	19
Key Indicators	22
Global Wealth & Investment Management
Total Segment Results	24
Key Indicators	25
Global Banking
Total Segment Results	26
Key Indicators	27
Investment Banking Product Rankings	28
Global Markets
Total Segment Results	29
Key Indicators	30
All Other
Total Results	31
Outstanding Loans and Leases	32
Quarterly Average Loans and Leases by Business Segment and All Other	33
Commercial Credit Exposure by Industry	34
Top 20 Non-U.S. Countries Exposure	35
Nonperforming Loans, Leases and Foreclosed Properties	36
Nonperforming Loans, Leases and Foreclosed Properties Activity	37
Quarterly Net Charge-offs and Net Charge-off Ratios	38
Annual Net Charge-offs and Net Charge-off Ratios	39
Allocation of the Allowance for Credit Losses by Product Type	40
Exhibit A: Non-GAAP Reconciliations	41
Effective October 1, 2017, the Corporation changed its accounting method under the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 718, Compensation - Stock Compensation, for stock-based compensation awards granted to retirement-eligible employees from expensing their value in full at the grant date (generally in the first quarter of each year) to expensing the estimated value ratably over the year prior to the grant date. This change affects consolidated financial information and All Other; it does not affect the business segments. All prior periods presented herein have been restated for this change in accounting method. Under the applicable bank regulatory rules, we are not required to and, accordingly, did not restate previously-filed capital metrics and ratios.

Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(Dollars in millions, except per share information; shares in thousands)
	Year Ended December 31						Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017			Fourth Quarter 2016
	2017			2016
Income statement
Net interest income	$	44,667		$	41,096		$	11,462		$	11,161		$	10,986		$	11,058		$	10,292
Noninterest income	42,685			42,605			8,974			10,678			11,843			11,190			9,698
Total revenue, net of interest expense	87,352			83,701			20,436			21,839			22,829			22,248			19,990
Provision for credit losses	3,396			3,597			1,001			834			726			835			774
Noninterest expense	54,743			55,083			13,274			13,394			13,982			14,093			13,413
Income tax expense	10,981			7,199			3,796			2,187			3,015			1,983			1,268
Net income	18,232			17,822			2,365			5,424			5,106			5,337			4,535
Preferred stock dividends	1,614			1,682			286			465			361			502			361
Net income applicable to common shareholders	16,618			16,140			2,079			4,959			4,745			4,835			4,174
Diluted earnings per common share	1.56			1.49			0.20			0.46			0.44			0.45			0.39
Average diluted common shares issued and outstanding	10,778,428			11,046,806			10,621,809			10,746,666			10,834,807			10,919,668			10,992,258
Dividends paid per common share	$	0.39		$	0.25		$	0.12		$	0.12		$	0.075		$	0.075		$	0.075
Performance ratios
Return on average assets	0.80		%	0.81		%	0.41		%	0.95		%	0.90		%	0.97		%	0.82		%
Return on average common shareholders' equity	6.72			6.69			3.29			7.89			7.75			8.09			6.79
Return on average shareholders' equity	6.72			6.70			3.43			7.88			7.56			8.09			6.69
Return on average tangible common shareholders' equity (1)	9.41			9.51			4.56			10.98			10.87			11.44			9.58
Return on average tangible shareholders' equity (1)	9.08			9.17			4.62			10.59			10.23			11.01			9.09
At period end
Book value per share of common stock	$	23.80		$	23.97		$	23.80		$	23.87		$	24.85		$	24.34		$	23.97
Tangible book value per share of common stock (1)	16.96			16.89			16.96			17.18			17.75			17.22			16.89
Market price per share of common stock:
Closing price	$	29.52		$	22.10		$	29.52		$	25.34		$	24.26		$	23.59		$	22.10
High closing price for the period	29.88			23.16			29.88			25.45			24.32			25.50			23.16
Low closing price for the period	22.05			11.16			25.45			22.89			22.23			22.05			15.63
Market capitalization	303,681			222,163			303,681			264,992			239,643			235,291			222,163
Number of financial centers - U.S.	4,470			4,579			4,470			4,511			4,542			4,559			4,579
Number of branded ATMs - U.S.	16,039			15,928			16,039			15,973			15,972			15,939			15,928
Headcount	209,376			210,673			209,376			209,839			210,904			210,533			210,673

⁽¹⁾  Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. Tangible book value per share provides additional useful information about the level of tangible assets in relation to outstanding shares of common stock. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 41-42.)

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

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

Bank of America Corporation and Subsidiaries
Consolidated Statement of Income
(Dollars in millions, except per share information; shares in thousands)
	Year Ended December 31				Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017		First Quarter 2017		Fourth Quarter 2016
	2017		2016
Interest income
Loans and leases	$	36,221	$	33,228	$	9,344		$	9,203		$	8,920	$	8,754	$	8,391
Debt securities	10,471		9,167		2,707			2,629			2,594		2,541		2,245
Federal funds sold and securities borrowed or purchased under agreements to resell	2,390		1,118		732			659			560		439		315
Trading account assets	4,474		4,423		1,144			1,091			1,163		1,076		1,093
Other interest income	4,023		3,121		1,139			1,075			909		900		821
Total interest income	57,579		51,057		15,066			14,657			14,146		13,710		12,865
Interest expense
Deposits	1,931		1,015		679			624			346		282		279
Short-term borrowings	3,538		2,350		1,030			944			917		647		542
Trading account liabilities	1,204		1,018		314			319			307		264		240
Long-term debt	6,239		5,578		1,581			1,609			1,590		1,459		1,512
Total interest expense	12,912		9,961		3,604			3,496			3,160		2,652		2,573
Net interest income	44,667		41,096		11,462			11,161			10,986		11,058		10,292
Noninterest income
Card income	5,902		5,851		1,555			1,429			1,469		1,449		1,502
Service charges	7,818		7,638		1,955			1,968			1,977		1,918		1,978
Investment and brokerage services	13,281		12,745		3,399			3,303			3,317		3,262		3,202
Investment banking income	6,011		5,241		1,418			1,477			1,532		1,584		1,222
Trading account profits	7,277		6,902		1,153			1,837			1,956		2,331		1,081
Mortgage banking income (loss)	224		1,853		(108		)	(20		)	230		122		519
Gains (loss) on sales of debt securities	255		490		(23		)	125			101		52		—
Other income (loss)	1,917		1,885		(375		)	559			1,261		472		194
Total noninterest income	42,685		42,605		8,974			10,678			11,843		11,190		9,698
Total revenue, net of interest expense	87,352		83,701		20,436			21,839			22,829		22,248		19,990
Provision for credit losses	3,396		3,597		1,001			834			726		835		774
Noninterest expense
Personnel	31,642		31,748		7,533			7,738			7,968		8,403		7,590
Occupancy	4,009		4,038		1,009			999			1,001		1,000		969
Equipment	1,692		1,804		411			416			427		438		447
Marketing	1,746		1,703		511			461			442		332		460
Professional fees	1,888		1,971		471			476			485		456		538
Data processing	3,139		3,007		795			777			773		794		767
Telecommunications	699		746		161			170			177		191		195
Other general operating	9,928		10,066		2,383			2,357			2,709		2,479		2,447
Total noninterest expense	54,743		55,083		13,274			13,394			13,982		14,093		13,413
Income before income taxes	29,213		25,021		6,161			7,611			8,121		7,320		5,803
Income tax expense	10,981		7,199		3,796			2,187			3,015		1,983		1,268
Net income	$	18,232	$	17,822	$	2,365		$	5,424		$	5,106	$	5,337	$	4,535
Preferred stock dividends	1,614		1,682		286			465			361		502		361
Net income applicable to common shareholders	$	16,618	$	16,140	$	2,079		$	4,959		$	4,745	$	4,835	$	4,174
Per common share information
Earnings	$	1.63	$	1.57	$	0.20		$	0.49		$	0.47	$	0.48	$	0.41
Diluted earnings	1.56		1.49		0.20			0.46			0.44		0.45		0.39
Dividends paid	0.39		0.25		0.12			0.12			0.075		0.075		0.075
Average common shares issued and outstanding	10,195,646		10,284,147		10,470,672			10,197,891			10,013,503		10,099,557		10,170,031
Average diluted common shares issued and outstanding	10,778,428		11,046,806		10,621,809			10,746,666			10,834,807		10,919,668		10,992,258

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

Current period 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 Comprehensive Income
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017			Fourth Quarter 2016
	2017			2016
Net income	$	18,232		$	17,822		$	2,365		$	5,424		$	5,106		$	5,337		$	4,535
Other comprehensive income (loss), net-of-tax:
Net change in debt and marketable equity securities	61			(1,345		)	(870		)	462			568			(99		)	(4,664		)
Net change in debit valuation adjustments	(293		)	(156		)	(144		)	(80		)	(78		)	9			(205		)
Net change in derivatives	64			182			(92		)	24			94			38			(95		)
Employee benefit plan adjustments	288			(524		)	208			26			27			27			(553		)
Net change in foreign currency translation adjustments	86			(87		)	(16		)	5			100			(3		)	(70		)
Other comprehensive income (loss)	206			(1,930		)	(914		)	437			711			(28		)	(5,587		)
Comprehensive income (loss)	$	18,438		$	15,892		$	1,451		$	5,861		$	5,817		$	5,309		$	(1,052	)

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

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

Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
	December 31 2017			September 30 2017			December 31 2016
Assets
Cash and due from banks	$	29,480		$	30,819		$	30,719
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	127,954			141,562			117,019
Cash and cash equivalents	157,434			172,381			147,738
Time deposits placed and other short-term investments	11,153			9,493			9,861
Federal funds sold and securities borrowed or purchased under agreements to resell	212,747			217,214			198,224
Trading account assets	209,358			210,319			180,209
Derivative assets	37,762			38,384			42,512
Debt securities:
Carried at fair value	315,117			316,864			313,660
Held-to-maturity, at cost	125,013			122,345			117,071
Total debt securities	440,130			439,209			430,731
Loans and leases	936,749			927,117			906,683
Allowance for loan and lease losses	(10,393		)	(10,693		)	(11,237		)
Loans and leases, net of allowance	926,356			916,424			895,446
Premises and equipment, net	9,247			8,971			9,139
Mortgage servicing rights	2,302			2,407			2,747
Goodwill	68,951			68,968			68,969
Loans held-for-sale	11,430			13,243			9,066
Customer and other receivables	61,623			55,855			58,759
Assets of business held for sale	—			—			10,670
Other assets	132,741			131,306			123,996
Total assets	$	2,281,234		$	2,284,174		$	2,188,067
Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
Trading account assets	$	6,521		$	5,142		$	5,773
Loans and leases	48,929			50,022			56,001
Allowance for loan and lease losses	(1,016		)	(1,023		)	(1,032		)
Loans and leases, net of allowance	47,913			48,999			54,969
Loans held-for-sale	27			66			188
All other assets	1,694			662			1,596
Total assets of consolidated variable interest entities	$	56,155		$	54,869		$	62,526

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

Current period 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 (continued)
(Dollars in millions)
	December 31 2017			September 30 2017			December 31 2016
Liabilities
Deposits in U.S. offices:
Noninterest-bearing	$	430,650		$	429,861		$	438,125
Interest-bearing	796,576			776,756			750,891
Deposits in non-U.S. offices:
Noninterest-bearing	14,024			14,126			12,039
Interest-bearing	68,295			63,674			59,879
Total deposits	1,309,545			1,284,417			1,260,934
Federal funds purchased and securities loaned or sold under agreements to repurchase	176,865			189,790			170,291
Trading account liabilities	81,187			86,434			63,031
Derivative liabilities	34,300			31,781			39,480
Short-term borrowings	32,666			32,679			23,944
Accrued expenses and other liabilities (includes $777, $762 and $762 of reserve for unfunded lending commitments)	152,123			158,438			147,369
Long-term debt	227,402			228,666			216,823
Total liabilities	2,014,088			2,012,205			1,921,872
Shareholders' equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,837,683, 3,837,683 and 3,887,329 shares	22,323			22,323			25,220
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 10,287,302,431, 10,457,473,674 and 10,052,625,604 shares	138,089			142,818			147,038
Retained earnings	113,816			112,996			101,225
Accumulated other comprehensive income (loss)	(7,082		)	(6,168		)	(7,288		)
Total shareholders' equity	267,146			271,969			266,195
Total liabilities and shareholders' equity	$	2,281,234		$	2,284,174		$	2,188,067
Liabilities of consolidated variable interest entities included in total liabilities above
Short-term borrowings	$	312		$	122		$	348
Long-term debt	9,873			9,457			10,646
All other liabilities	37			54			41
Total liabilities of consolidated variable interest entities	$	10,222		$	9,633		$	11,035

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

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

Bank of America Corporation and Subsidiaries
Capital Management
(Dollars in millions)
	Basel 3 Transition
	December 31 2017			September 30 2017			December 31 2016
Risk-based capital metrics (1):
Standardized Approach
Common equity tier 1 capital	$	171,124		$	176,094		$	168,866
Tier 1 capital	191,572			196,438			190,315
Total capital	227,504			232,849			228,187
Risk-weighted assets	1,433,310			1,407,093			1,399,477
Common equity tier 1 capital ratio	11.9		%	12.5		%	12.1		%
Tier 1 capital ratio	13.4			14.0			13.6
Total capital ratio	15.9			16.5			16.3
Advanced Approaches
Common equity tier 1 capital	$	171,124		$	176,094		$	168,866
Tier 1 capital	191,572			196,438			190,315
Total capital	218,609			223,814			218,981
Risk-weighted assets	1,450,210			1,481,919			1,529,903
Common equity tier 1 capital ratio	11.8		%	11.9		%	11.0		%
Tier 1 capital ratio	13.2			13.3			12.4
Total capital ratio	15.1			15.1			14.3
Leverage-based metrics (2)
Adjusted average assets	$	2,224,710		$	2,193,889		$	2,131,121
Tier 1 leverage ratio	8.6		%	9.0		%	8.9		%
Bank Holding Company Supplementary leverage exposure	$	2,756,010		$	2,742,256		$	2,702,248
Bank Holding Company Supplementary leverage ratio	6.9		%	7.1		%	6.9		%
Tangible equity ratio (3)	8.9			9.1			9.2
Tangible common equity ratio (3)	7.9			8.1			8.0

⁽¹⁾  Regulatory capital ratios reflect the transition provisions of Basel 3. During the fourth quarter of 2017, we obtained approval from U.S. banking regulators to use our internal models methodology (IMM) to calculate counterparty credit risk-weighted assets for derivatives under the Advanced approaches.

⁽²⁾  The numerator of the supplementary leverage ratio and Tier 1 leverage ratio is quarter-end Basel 3 Tier 1 capital. The Tier 1 leverage ratio reflects the transition provisions of Basel 3, and the supplementary leverage ratio is calculated on a fully phased-in basis. The denominator of supplementary leverage exposure is total leverage exposure based on the daily average of the sum of on-balance sheet exposures less permitted Tier 1 deductions, as well as the simple average of certain off-balance sheet exposures, as of the end of each month in a quarter. Off-balance sheet exposures primarily include undrawn lending commitments, letters of credit, potential future derivative exposures and repo-style transactions.

⁽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 ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on pages 41-42.)

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

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

Bank of America Corporation and Subsidiaries
Regulatory Capital Reconciliations (1, 2)
(Dollars in millions)
	December 31 2017			September 30 2017			December 31 2016
Regulatory capital – Basel 3 transition to fully phased-in
Common equity tier 1 capital (transition)	$	171,124		$	176,094		$	168,866
Deferred tax assets arising from net operating loss and tax credit carryforwards phased in during transition	(1,296		)	(1,357		)	(3,318		)
Accumulated OCI phased in during transition	(879		)	(747		)	(1,899		)
Intangibles phased in during transition	(348		)	(316		)	(798		)
Defined benefit pension fund assets phased in during transition	(228		)	(187		)	(341		)
DVA related to liabilities and derivatives phased in during transition	239			158			276
Other adjustments and deductions phased in during transition	(75		)	(77		)	(57		)
Common equity tier 1 capital (fully phased-in)	$	168,537		$	173,568		$	162,729
Risk-weighted assets – As reported to Basel 3 (fully phased-in)
Basel 3 Standardized approach risk-weighted assets as reported	$	1,433,310		$	1,407,093		$	1,399,477
Changes in risk-weighted assets from reported to fully phased-in	8,915			12,710			17,638
Basel 3 Standardized approach risk-weighted assets (fully phased-in)	$	1,442,225		$	1,419,803		$	1,417,115
Basel 3 Advanced approaches risk-weighted assets as reported	$	1,450,210		$	1,481,919		$	1,529,903
Changes in risk-weighted assets from reported to fully phased-in	9,450			(21,768		)	(18,113		)
Basel 3 Advanced approaches risk-weighted assets (fully phased-in) (3)	$	1,459,660		$	1,460,151		$	1,511,790
Regulatory capital ratios
Basel 3 Standardized approach common equity tier 1 (transition)	11.9		%	12.5		%	12.1		%
Basel 3 Advanced approaches common equity tier 1 (transition)	11.8			11.9			11.0
Basel 3 Standardized approach common equity tier 1 (fully phased-in)	11.7			12.2			11.5
Basel 3 Advanced approaches common equity tier 1 (fully phased-in) (3)	11.5			11.9			10.8

⁽¹⁾  As an Advanced approaches institution, we are required to report regulatory capital risk-weighted assets and ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is to be used to assess capital adequacy, which is the Advanced approaches for the periods presented.

⁽²⁾  Fully phased-in estimates are non-GAAP financial measures. For reconciliations to GAAP financial measures, see above.

⁽³⁾  During the fourth quarter of 2017, we obtained approval from U.S. banking regulators to use our internal models methodology (IMM) to calculate counterparty credit risk-weighted assets for derivatives under the Advanced approaches. Fully phased-in estimates for prior periods assumed approval.

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

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

Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	Fourth Quarter 2017						Third Quarter 2017						Fourth Quarter 2016
	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	$	128,708	$	336	1.04	%	$	127,835	$	323	1.00	%	$	125,820	$	145	0.46	%
Time deposits placed and other short-term investments	12,979		68		2.06		12,503		68		2.17		9,745		39		1.57
Federal funds sold and securities borrowed or purchased under agreements to resell	224,490		732		1.29		223,585		659		1.17		218,200		315		0.57
Trading account assets	130,370		1,183		3.61		124,068		1,125		3.60		126,731		1,131		3.55
Debt securities	441,624		2,751		2.48		436,886		2,670		2.44		430,719		2,273		2.11
Loans and leases (1):
Residential mortgage	202,155		1,749		3.46		199,240		1,724		3.46		191,003		1,621		3.39
Home equity	59,059		641		4.32		61,225		664		4.31		68,021		618		3.63
U.S. credit card	93,531		2,299		9.75		91,602		2,253		9.76		89,521		2,105		9.35
Non-U.S. credit card (2)	—		—		—		—		—		—		9,051		192		8.43
Direct/Indirect consumer	93,547		693		2.94		93,510		678		2.88		93,527		598		2.54
Other consumer	2,566		31		4.71		2,762		28		4.07		2,462		25		3.99
Total consumer	450,858		5,413		4.78		448,339		5,347		4.74		453,585		5,159		4.53
U.S. commercial	297,851		2,598		3.46		293,203		2,542		3.44		283,491		2,119		2.97
Commercial real estate	58,983		571		3.84		59,044		552		3.71		57,540		453		3.13
Commercial lease financing	21,406		159		2.98		21,818		160		2.92		21,436		145		2.71
Non-U.S. commercial	98,692		680		2.73		95,725		676		2.80		92,344		589		2.54
Total commercial	476,932		4,008		3.34		469,790		3,930		3.32		454,811		3,306		2.89
Total loans and leases (2)	927,790		9,421		4.04		918,129		9,277		4.02		908,396		8,465		3.71
Other earning assets	84,087		826		3.91		76,496		775		4.02		64,501		731		4.52
Total earning assets (3)	1,950,048		15,317		3.12		1,919,502		14,897		3.09		1,884,112		13,099		2.77
Cash and due from banks	28,114						28,990						27,452
Other assets, less allowance for loan and lease losses	323,525						322,612						296,827
Total assets	$	2,301,687					$	2,271,104					$	2,208,391

⁽¹⁾  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 are recorded at fair value upon acquisition and accrete interest income over the estimated life of the loan.

⁽²⁾  The fourth quarter of 2016 includes assets of the Corporation's non-U.S. consumer credit card business, which was sold to a third party during the second quarter of 2017.

⁽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:

	Fourth Quarter 2017				Third Quarter 2017				Fourth Quarter 2016
Federal funds sold and securities borrowed or purchased under agreements to resell		$	16			$	8			$	8
Debt securities		(2		)		(5		)		(19		)
U.S. commercial loans and leases		(10		)		(10		)		(10		)
Net hedge expense on assets		$	4			$	(7	)		$	(21	)

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

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

Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	Fourth Quarter 2017						Third Quarter 2017						Fourth Quarter 2016
	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	$	54,090	$	1	0.01	%	$	54,328	$	1	0.01	%	$	50,132	$	1	0.01	%
NOW and money market deposit accounts	645,639		361		0.22		631,270		333		0.21		604,155		78		0.05
Consumer CDs and IRAs	42,595		29		0.28		44,239		31		0.27		47,625		32		0.27
Negotiable CDs, public funds and other deposits	39,200		133		1.35		38,119		101		1.05		34,904		53		0.60
Total U.S. interest-bearing deposits	781,524		524		0.27		767,956		466		0.24		736,816		164		0.09
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	1,844		5		0.96		2,259		5		0.97		2,918		4		0.48
Governments and official institutions	1,016		3		1.06		1,012		3		1.04		1,346		2		0.74
Time, savings and other	67,252		147		0.87		63,716		150		0.93		60,123		109		0.73
Total non-U.S. interest-bearing deposits	70,112		155		0.88		66,987		158		0.93		64,387		115		0.71
Total interest-bearing deposits	851,636		679		0.32		834,943		624		0.30		801,203		279		0.14
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities	270,403		1,030		1.51		268,185		944		1.40		242,715		542		0.89
Trading account liabilities	49,643		314		2.51		48,390		319		2.62		38,308		240		2.49
Long-term debt	227,644		1,581		2.77		227,309		1,609		2.82		220,587		1,512		2.74
Total interest-bearing liabilities (1)	1,399,326		3,604		1.02		1,378,827		3,496		1.01		1,302,813		2,573		0.79
Noninterest-bearing sources:
Noninterest-bearing deposits	441,936						436,768						449,745
Other liabilities	187,263						182,271						186,094
Shareholders' equity	273,162						273,238						269,739
Total liabilities and shareholders' equity	$	2,301,687					$	2,271,104					$	2,208,391
Net interest spread					2.10	%					2.08	%					1.98	%
Impact of noninterest-bearing sources					0.29						0.28						0.25
Net interest income/yield on earning assets			$	11,713	2.39	%			$	11,401	2.36	%			$	10,526	2.23	%

⁽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:

	Fourth Quarter 2017				Third Quarter 2017				Fourth Quarter 2016
NOW and money market deposit accounts		$	—			$	—			$	—
Consumer CDs and IRAs		5				6				6
Negotiable CDs, public funds and other deposits		3				3				3
Banks located in non-U.S. countries		5				5				5
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities		30				33				94
Long-term debt		(379		)		(393		)		(440		)
Net hedge income on liabilities		$	(336	)		$	(346	)		$	(332	)

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

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

Bank of America Corporation and Subsidiaries
Annual Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	2017						2016
	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	$	127,431	$	1,122	0.88	%	$	133,374	$	605	0.45	%
Time deposits placed and other short-term investments	12,112		241		1.99		9,026		140		1.55
Federal funds sold and securities borrowed or purchased under agreements to resell	222,818		2,390		1.07		216,161		1,118		0.52
Trading account assets	129,007		4,618		3.58		129,766		4,563		3.52
Debt securities	435,005		10,626		2.44		418,289		9,263		2.23
Loans and leases (1):
Residential mortgage	197,766		6,831		3.45		188,250		6,488		3.45
Home equity	62,260		2,608		4.19		71,760		2,713		3.78
U.S. credit card	91,068		8,791		9.65		87,905		8,170		9.29
Non-U.S. credit card (2)	3,929		358		9.12		9,527		926		9.72
Direct/Indirect consumer	93,374		2,622		2.81		91,853		2,296		2.50
Other consumer	2,628		112		4.23		2,295		75		3.26
Total consumer	451,025		21,322		4.73		451,590		20,668		4.58
U.S. commercial	292,452		9,765		3.34		276,887		8,101		2.93
Commercial real estate	58,502		2,116		3.62		57,547		1,773		3.08
Commercial lease financing	21,747		706		3.25		21,146		627		2.97
Non-U.S. commercial	95,005		2,566		2.70		93,263		2,337		2.51
Total commercial	467,706		15,153		3.24		448,843		12,838		2.86
Total loans and leases (2)	918,731		36,475		3.97		900,433		33,506		3.72
Other earning assets	76,957		3,032		3.94		59,775		2,762		4.62
Total earning assets (3)	1,922,061		58,504		3.04		1,866,824		51,957		2.78
Cash and due from banks	27,995						27,893
Other assets, less allowance for loan and lease losses	318,577						295,501
Total assets	$	2,268,633					$	2,190,218

⁽¹⁾  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 are recorded at fair value upon acquisition and accrete interest income over the estimated life of the loan.

⁽²⁾  Includes assets of the Corporation's non-U.S. consumer credit card business, which was sold to a third party during the second quarter of 2017.

⁽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:

	2017				2016
Federal funds sold and securities borrowed or purchased under agreements to resell		$	49			$	25
Debt securities		(54		)		(150		)
U.S. commercial loans and leases		(39		)		(51		)
Net hedge expense on assets		$	(44	)		$	(176	)

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

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

Bank of America Corporation and Subsidiaries
Annual Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	2017						2016
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	53,783	$	5	0.01	%	$	49,495	$	5	0.01	%
NOW and money market deposit accounts	628,647		873		0.14		589,737		294		0.05
Consumer CDs and IRAs	44,794		121		0.27		48,594		133		0.27
Negotiable CDs, public funds and other deposits	36,782		354		0.96		32,889		160		0.49
Total U.S. interest-bearing deposits	764,006		1,353		0.18		720,715		592		0.08
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	2,442		21		0.85		3,891		32		0.82
Governments and official institutions	1,006		10		0.95		1,437		9		0.64
Time, savings and other	62,386		547		0.88		59,183		382		0.65
Total non-U.S. interest-bearing deposits	65,834		578		0.88		64,511		423		0.66
Total interest-bearing deposits	829,840		1,931		0.23		785,226		1,015		0.13
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities	273,097		3,538		1.30		251,236		2,350		0.94
Trading account liabilities	45,518		1,204		2.64		37,897		1,018		2.69
Long-term debt	225,133		6,239		2.77		228,617		5,578		2.44
Total interest-bearing liabilities (1)	1,373,588		12,912		0.94		1,302,976		9,961		0.76
Noninterest-bearing sources:
Noninterest-bearing deposits	439,956						437,335
Other liabilities	183,800						184,064
Shareholders' equity	271,289						265,843
Total liabilities and shareholders' equity	$	2,268,633					$	2,190,218
Net interest spread					2.10	%					2.02	%
Impact of noninterest-bearing sources					0.27						0.23
Net interest income/yield on earning assets			$	45,592	2.37	%			$	41,996	2.25	%

⁽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:

	2017				2016
NOW and money market deposit accounts		$	(1	)		$	(1	)
Consumer CDs and IRAs		22				23
Negotiable CDs, public funds and other deposits		13				13
Banks located in non-U.S. countries		19				13
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities		243				500
Long-term debt		(1,728		)		(2,615		)
Net hedge income on liabilities		$	(1,432	)		$	(2,067	)

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

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

Bank of America Corporation and Subsidiaries
Debt Securities and Available-for-Sale Marketable Equity Securities
(Dollars in millions)
	December 31, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	194,119	$	506	$	(1,696	)	$	192,929
Agency-collateralized mortgage obligations	6,846		39		(81		)	6,804
Commercial	13,864		28		(208		)	13,684
Non-agency residential	2,410		267		(8		)	2,669
Total mortgage-backed securities	217,239		840		(1,993		)	216,086
U.S. Treasury and agency securities	54,523		18		(1,018		)	53,523
Non-U.S. securities	6,669		9		(1		)	6,677
Other taxable securities, substantially all asset-backed securities	5,699		73		(2		)	5,770
Total taxable securities	284,130		940		(3,014		)	282,056
Tax-exempt securities	20,541		138		(104		)	20,575
Total available-for-sale debt securities	304,671		1,078		(3,118		)	302,631
Other debt securities carried at fair value	12,273		252		(39		)	12,486
Total debt securities carried at fair value	316,944		1,330		(3,157		)	315,117
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	125,013		111		(1,825		)	123,299
Total debt securities	$	441,957	$	1,441	$	(4,982	)	$	438,416
Available-for-sale marketable equity securities (1)	$	27	$	—	$	(2	)	$	25
	September 30, 2017
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	196,530	$	850	$	(1,186	)	$	196,194
Agency-collateralized mortgage obligations	7,021		73		(45		)	7,049
Commercial	12,584		48		(168		)	12,464
Non-agency residential	2,345		333		(21		)	2,657
Total mortgage-backed securities	218,480		1,304		(1,420		)	218,364
U.S. Treasury and agency securities	50,824		70		(626		)	50,268
Non-U.S. securities	5,432		9		(1		)	5,440
Other taxable securities, substantially all asset-backed securities	6,964		77		(3		)	7,038
Total taxable securities	281,700		1,460		(2,050		)	281,110
Tax-exempt securities	19,117		167		(92		)	19,192
Total available-for-sale debt securities	300,817		1,627		(2,142		)	300,302
Other debt securities carried at fair value	16,265		345		(48		)	16,562
Total debt securities carried at fair value	317,082		1,972		(2,190		)	316,864
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	122,345		267		(1,427		)	121,185
Total debt securities	$	439,427	$	2,239	$	(3,617	)	$	438,049
Available-for-sale marketable equity securities (1)	$	22	$	28	$	—		$	50

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

Other Debt Securities Carried at Fair Value
(Dollars in millions)	December 31 2017		September 30 2017
Mortgage-backed securities:
Agency-collateralized mortgage obligations	$	5	$	5
Non-agency residential	2,764		3,058
Total mortgage-backed securities	2,769		3,063
Non-U.S. securities (1)	9,488		13,260
Other taxable securities, substantially all asset-backed securities	229		239
Total	$	12,486	$	16,562

⁽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.

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

Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions)
Fully taxable-equivalent (FTE) basis data(1)
	Year Ended December 31						Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017			Fourth Quarter 2016
	2017			2016
Net interest income	$	45,592		$	41,996		$	11,713		$	11,401		$	11,223		$	11,255		$	10,526
Total revenue, net of interest expense	88,277			84,601			20,687			22,079			23,066			22,445			20,224
Net interest yield	2.37		%	2.25		%	2.39		%	2.36		%	2.34		%	2.39		%	2.23		%
Efficiency ratio	62.01			65.11			64.16			60.67			60.62			62.79			66.33

⁽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. The Corporation believes that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 41-42.)

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

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

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other
(Dollars in millions)
	Fourth Quarter 2017
	Total Corporation			Consumer Banking		GWIM		Global Banking			Global Markets			All Other
Net interest income (FTE basis)	$	11,713		$	6,353	$	1,520	$	2,719		$	932		$	189
Card income	1,555			1,355		43		135			24			(2		)
Service charges	1,955			1,073		18		775			84			5
Investment and brokerage services	3,399			68		2,810		24			501			(4		)
Investment banking income (loss)	1,418			—		71		811			596			(60		)
Trading account profits	1,153			1		23		53			1,076			—
Mortgage banking income (loss)	(108		)	80		1		—			2			(191		)
Gains (losses) on sales of debt securities	(23		)	—		—		—			—			(23		)
Other income (loss)	(375		)	24		197		501			180			(1,277		)
Total noninterest income	8,974			2,601		3,163		2,299			2,463			(1,552		)
Total revenue, net of interest expense (FTE basis)	20,687			8,954		4,683		5,018			3,395			(1,363		)
Provision for credit losses	1,001			886		6		132			162			(185		)
Noninterest expense	13,274			4,506		3,472		2,160			2,613			523
Income (loss) before income taxes (FTE basis)	6,412			3,562		1,205		2,726			620			(1,701		)
Income tax expense (FTE basis)	4,047			1,365		463		1,046			210			963
Net income (loss)	$	2,365		$	2,197	$	742	$	1,680		$	410		$	(2,664	)
Average
Total loans and leases	$	927,790		$	275,716	$	157,063	$	350,262		$	73,552		$	71,197
Total assets (1)	2,301,687			737,755		276,153		419,513			659,411			208,855
Total deposits	1,293,572			665,536		240,126		329,761			34,250			23,899
Period end
Total loans and leases	$	936,749		$	280,473	$	159,378	$	350,668		$	76,778		$	69,452
Total assets (1)	2,281,234			749,325		284,321		424,533			629,007			194,048
Total deposits	1,309,545			676,530		246,994		329,273			34,029			22,719
	Third Quarter 2017
	Total Corporation			Consumer Banking		GWIM		Global Banking			Global Markets			All Other
Net interest income (FTE basis)	$	11,401		$	6,212	$	1,496	$	2,642		$	899		$	152
Card income	1,429			1,243		40		124			22			—
Service charges	1,968			1,082		19		776			85			6
Investment and brokerage services	3,303			65		2,728		18			496			(4		)
Investment banking income (loss)	1,477			—		100		806			624			(53		)
Trading account profits	1,837			1		29		(5		)	1,714			98
Mortgage banking income (loss)	(20		)	142		1		—			—			(163		)
Gains on sales of debt securities	125			—		—		—			—			125
Other income	559			29		207		626			61			(364		)
Total noninterest income	10,678			2,562		3,124		2,345			3,002			(355		)
Total revenue, net of interest expense (FTE basis)	22,079			8,774		4,620		4,987			3,901			(203		)
Provision for credit losses	834			967		16		48			(6		)	(191		)
Noninterest expense	13,394			4,460		3,371		2,119			2,711			733
Income before income taxes (FTE basis)	7,851			3,347		1,233		2,820			1,196			(745		)
Income tax expense (FTE basis)	2,427			1,260		464		1,062			440			(799		)
Net income	$	5,424		$	2,087	$	769	$	1,758		$	756		$	54
Average
Total loans and leases	$	918,129		$	268,810	$	154,333	$	346,093		$	72,347		$	76,546
Total assets (1)	2,271,104			731,077		275,570		414,755			642,430			207,272
Total deposits	1,271,711			658,974		239,647		315,692			32,125			25,273
Period end
Total loans and leases	$	927,117		$	272,360	$	155,871	$	349,838		$	76,225		$	72,823
Total assets (1)	2,284,174			742,513		276,187		423,185			629,270			213,019
Total deposits	1,284,417			669,647		237,771		319,545			33,382			24,072

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

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

Current period 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 and All Other (continued)
(Dollars in millions)
	Fourth Quarter 2016
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets			All Other
Net interest income (FTE basis)	$	10,526	$	5,465	$	1,449	$	2,418	$	1,167		$	27
Card income	1,502		1,290		38		117		12			45
Service charges	1,978		1,062		18		810		81			7
Investment and brokerage services	3,202		65		2,598		24		518			(3		)
Investment banking income (loss)	1,222		—		47		654		554			(33		)
Trading account profits	1,081		—		52		54		1,149			(174		)
Mortgage banking income	519		207		1		—		—			311
Other income (loss)	194		22		174		472		(8		)	(466		)
Total noninterest income	9,698		2,646		2,928		2,131		2,306			(313		)
Total revenue, net of interest expense (FTE basis)	20,224		8,111		4,377		4,549		3,473			(286		)
Provision for credit losses	774		760		22		13		8			(29		)
Noninterest expense	13,413		4,330		3,359		2,036		2,482			1,206
Income (loss) before income taxes (FTE basis)	6,037		3,021		996		2,500		983			(1,463		)
Income tax expense (benefit) (FTE basis)	1,502		1,101		362		912		325			(1,198		)
Net income (loss)	$	4,535	$	1,920	$	634	$	1,588	$	658		$	(265	)
Average
Total loans and leases	$	908,396	$	253,602	$	146,180	$	337,828	$	70,615		$	100,171
Total assets (1)	2,208,391		686,985		291,761		403,625		595,275			230,745
Total deposits	1,250,948		617,967		256,629		315,359		33,775			27,218
Period end
Total loans and leases (2)	$	915,897	$	258,991	$	148,179	$	339,271	$	72,743		$	96,713
Total assets (1)	2,188,067		702,333		298,931		408,330		566,060			212,413
Total deposits	1,260,934		632,786		262,530		307,630		34,927			23,061

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

⁽²⁾  Includes $9.2 billion of non-U.S. credit card loans, which are included in assets of business held for sale on the Consolidated Balance Sheet and in All Other at December 31, 2016.

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

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

Bank of America Corporation and Subsidiaries
Annual Results by Business Segment and All Other
(Dollars in millions)
	Year Ended December 31, 2017
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income (FTE basis)	$	45,592	$	24,307	$	6,173	$	10,504	$	3,744	$	864
Card income	5,902		5,070		153		518		92		69
Service charges	7,818		4,266		76		3,125		329		22
Investment and brokerage services	13,281		267		10,883		97		2,049		(15		)
Investment banking income (loss)	6,011		—		318		3,471		2,476		(254		)
Trading account profits	7,277		3		144		134		6,710		286
Mortgage banking income (loss)	224		481		4		—		2		(263		)
Gains on sales of debt securities	255		—		—		—		—		255
Other income (loss)	1,917		127		839		2,150		549		(1,748		)
Total noninterest income	42,685		10,214		12,417		9,495		12,207		(1,648		)
Total revenue, net of interest expense (FTE basis)	88,277		34,521		18,590		19,999		15,951		(784		)
Provision for credit losses	3,396		3,525		56		212		164		(561		)
Noninterest expense	54,743		17,787		13,564		8,596		10,731		4,065
Income (loss) before income taxes (FTE basis)	30,138		13,209		4,970		11,191		5,056		(4,288		)
Income tax expense (benefit) (FTE basis)	11,906		5,002		1,882		4,238		1,763		(979		)
Net income (loss)	$	18,232	$	8,207	$	3,088	$	6,953	$	3,293	$	(3,309	)
Average
Total loans and leases	$	918,731	$	266,058	$	152,682	$	346,089	$	71,413	$	82,489
Total assets (1)	2,268,633		725,406		281,517		416,038		638,674		206,998
Total deposits	1,269,796		653,320		245,559		312,859		32,864		25,194
Period end
Total loans and leases	$	936,749	$	280,473	$	159,378	$	350,668	$	76,778	$	69,452
Total assets (1)	2,281,234		749,325		284,321		424,533		629,007		194,048
Total deposits	1,309,545		676,530		246,994		329,273		34,029		22,719
	Year Ended December 31, 2016
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income (FTE basis)	$	41,996	$	21,290	$	5,759	$	9,471	$	4,558	$	918
Card income	5,851		4,935		150		503		74		189
Service charges	7,638		4,142		74		3,094		312		16
Investment and brokerage services	12,745		270		10,316		74		2,102		(17		)
Investment banking income (loss)	5,241		2		227		2,884		2,296		(168		)
Trading account profits	6,902		—		175		133		6,550		44
Mortgage banking income	1,853		960		3		—		1		889
Gains on sales of debt securities	490		—		—		—		—		490
Other income (loss)	1,885		132		946		2,286		197		(1,676		)
Total noninterest income	42,605		10,441		11,891		8,974		11,532		(233		)
Total revenue, net of interest expense (FTE basis)	84,601		31,731		17,650		18,445		16,090		685
Provision for credit losses	3,597		2,715		68		883		31		(100		)
Noninterest expense	55,083		17,654		13,175		8,486		10,169		5,599
Income (loss) before income taxes (FTE basis)	25,921		11,362		4,407		9,076		5,890		(4,814		)
Income tax expense (benefit) (FTE basis)	8,099		4,190		1,632		3,347		2,072		(3,142		)
Net income (loss)	$	17,822	$	7,172	$	2,775	$	5,729	$	3,818	$	(1,672	)
Average
Total loans and leases	$	900,433	$	245,808	$	142,429	$	333,820	$	69,641	$	108,735
Total assets (1)	2,190,218		668,375		291,478		396,737		585,341		248,287
Total deposits	1,222,561		599,651		256,425		304,741		34,250		27,494
Period end
Total loans and leases (2)	$	915,897	$	258,991	$	148,179	$	339,271	$	72,743	$	96,713
Total assets (1)	2,188,067		702,333		298,931		408,330		566,060		212,413
Total deposits	1,260,934		632,786		262,530		307,630		34,927		23,061

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

⁽²⁾  Includes $9.2 billion of non-U.S. credit card loans, which are included in assets of business held for sale on the Consolidated Balance Sheet and in All Other at December 31, 2016.

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

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

Bank of America Corporation and Subsidiaries
Consumer Banking Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017			Fourth Quarter 2016
	2017			2016
Net interest income (FTE basis)	$	24,307		$	21,290		$	6,353		$	6,212		$	5,961		$	5,781		$	5,465
Noninterest income:
Card income	5,070			4,935			1,355			1,243			1,248			1,224			1,290
Service charges	4,266			4,142			1,073			1,082			1,061			1,050			1,062
Mortgage banking income	481			960			80			142			140			119			207
All other income	397			404			93			95			99			110			87
Total noninterest income	10,214			10,441			2,601			2,562			2,548			2,503			2,646
Total revenue, net of interest expense (FTE basis)	34,521			31,731			8,954			8,774			8,509			8,284			8,111
Provision for credit losses	3,525			2,715			886			967			834			838			760
Noninterest expense	17,787			17,654			4,506			4,460			4,411			4,410			4,330
Income before income taxes (FTE basis)	13,209			11,362			3,562			3,347			3,264			3,036			3,021
Income tax expense (FTE basis)	5,002			4,190			1,365			1,260			1,233			1,144			1,101
Net income	$	8,207		$	7,172		$	2,197		$	2,087		$	2,031		$	1,892		$	1,920
Net interest yield (FTE basis)	3.54		%	3.38		%	3.61		%	3.56		%	3.48		%	3.50		%	3.35		%
Return on average allocated capital (1)	22			21			24			22			22			21			22
Efficiency ratio (FTE basis)	51.53			55.64			50.33			50.83			51.84			53.24			53.38
Balance Sheet
Average
Total loans and leases	$	266,058		$	245,808		$	275,716		$	268,810		$	261,537		$	257,945		$	253,602
Total earning assets (2)	686,612			629,984			699,004			692,122			686,064			668,865			648,299
Total assets (2)	725,406			668,375			737,755			731,077			724,753			707,647			686,985
Total deposits	653,320			599,651			665,536			658,974			652,787			635,594			617,967
Allocated capital (1)	37,000			34,000			37,000			37,000			37,000			37,000			34,000
Period end
Total loans and leases	$	280,473		$	258,991		$	280,473		$	272,360		$	265,938		$	258,421		$	258,991
Total earning assets (2)	709,832			662,698			709,832			703,277			696,350			694,883			662,698
Total assets (2)	749,325			702,333			749,325			742,513			735,176			734,087			702,333
Total deposits	676,530			632,786			676,530			669,647			662,678			661,607			632,786

⁽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. Other companies may define or calculate these measures differently.

⁽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.

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

Bank of America Corporation and Subsidiaries
Consumer Banking Annual Results
(Dollars in millions)
	Year Ended December 31, 2017
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	24,307		$	13,353		$	10,954
Noninterest income:
Card income	5,070			8			5,062
Service charges	4,266			4,265			1
Mortgage banking income	481			—			481
All other income	397			391			6
Total noninterest income	10,214			4,664			5,550
Total revenue, net of interest expense (FTE basis)	34,521			18,017			16,504
Provision for credit losses	3,525			201			3,324
Noninterest expense	17,787			10,380			7,407
Income before income taxes (FTE basis)	13,209			7,436			5,773
Income tax expense (FTE basis)	5,002			2,816			2,186
Net income	$	8,207		$	4,620		$	3,587
Net interest yield (FTE basis)	3.54		%	2.05		%	4.18		%
Return on average allocated capital (1)	22			39			14
Efficiency ratio (FTE basis)	51.53			57.61			44.88
Balance Sheet
Average
Total loans and leases	$	266,058		$	5,084		$	260,974
Total earning assets (2)	686,612			651,963			261,802
Total assets (2)	725,406			679,306			273,253
Total deposits	653,320			646,930			6,390
Allocated capital (1)	37,000			12,000			25,000
Year end
Total loans and leases	$	280,473		$	5,143		$	275,330
Total earning assets (2)	709,832			675,485			275,742
Total assets (2)	749,325			703,330			287,390
Total deposits	676,530			670,802			5,728
	Year Ended December 31, 2016
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	21,290		$	10,701		$	10,589
Noninterest income:
Card income	4,935			9			4,926
Service charges	4,142			4,141			1
Mortgage banking income	960			—			960
All other income	404			403			1
Total noninterest income	10,441			4,553			5,888
Total revenue, net of interest expense (FTE basis)	31,731			15,254			16,477
Provision for credit losses	2,715			174			2,541
Noninterest expense	17,654			9,677			7,977
Income before income taxes (FTE basis)	11,362			5,403			5,959
Income tax expense (FTE basis)	4,190			1,993			2,197
Net income	$	7,172		$	3,410		$	3,762
Net interest yield (FTE basis)	3.38		%	1.79		%	4.37		%
Return on average allocated capital (1)	21			28			17
Efficiency ratio (FTE basis)	55.64			63.44			48.41
Balance Sheet
Average
Total loans and leases	$	245,808		$	4,809		$	240,999
Total earning assets (2)	629,984			598,043			242,445
Total assets (2)	668,375			624,592			254,287
Total deposits	599,651			592,417			7,234
Allocated capital (1)	34,000			12,000			22,000
Year end
Total loans and leases	$	258,991		$	4,938		$	254,053
Total earning assets (2)	662,698			631,172			255,511
Total assets (2)	702,333			658,316			268,002
Total deposits	632,786			625,727			7,059

For footnotes see page 21.

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

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

Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results
(Dollars in millions)
	Fourth Quarter 2017
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	6,353		$	3,548		$	2,805
Noninterest income:
Card income	1,355			4			1,351
Service charges	1,073			1,072			1
Mortgage banking income	80			—			80
All other income (loss)	93			96			(3		)
Total noninterest income	2,601			1,172			1,429
Total revenue, net of interest expense (FTE basis)	8,954			4,720			4,234
Provision for credit losses	886			53			833
Noninterest expense	4,506			2,677			1,829
Income before income taxes (FTE basis)	3,562			1,990			1,572
Income tax expense (FTE basis)	1,365			763			602
Net income	$	2,197		$	1,227		$	970
Net interest yield (FTE basis)	3.61		%	2.12		%	4.10		%
Return on average allocated capital (1)	24			41			15
Efficiency ratio (FTE basis)	50.33			56.73			43.20
Balance Sheet
Average
Total loans and leases	$	275,716		$	5,261		$	270,455
Total earning assets (2)	699,004			664,054			271,129
Total assets (2)	737,755			691,610			282,324
Total deposits	665,536			659,238			6,298
Allocated capital (1)	37,000			12,000			25,000
Period end
Total loans and leases	$	280,473		$	5,143		$	275,330
Total earning assets (2)	709,832			675,485			275,742
Total assets (2)	749,325			703,330			287,390
Total deposits	676,530			670,802			5,728
	Third Quarter 2017
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	6,212		$	3,440		$	2,772
Noninterest income:
Card income	1,243			1			1,242
Service charges	1,082			1,082			—
Mortgage banking income	142			—			142
All other income (loss)	95			97			(2		)
Total noninterest income	2,562			1,180			1,382
Total revenue, net of interest expense (FTE basis)	8,774			4,620			4,154
Provision for credit losses	967			47			920
Noninterest expense	4,460			2,616			1,844
Income before income taxes (FTE basis)	3,347			1,957			1,390
Income tax expense (FTE basis)	1,260			737			523
Net income	$	2,087		$	1,220		$	867
Net interest yield (FTE basis)	3.56		%	2.08		%	4.16		%
Return on average allocated capital (1)	22			40			14
Efficiency ratio (FTE basis)	50.83			56.61			44.40
Balance Sheet
Average
Total loans and leases	$	268,810		$	5,079		$	263,731
Total earning assets (2)	692,122			657,036			264,665
Total assets (2)	731,077			684,642			276,014
Total deposits	658,974			652,286			6,688
Allocated capital (1)	37,000			12,000			25,000
Period end
Total loans and leases	$	272,360		$	5,060		$	267,300
Total earning assets (2)	703,277			667,733			268,354
Total assets (2)	742,513			695,403			279,920
Total deposits	669,647			662,781			6,866

For footnotes see page 21.

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

Current period 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 (continued)
(Dollars in millions)
	Fourth Quarter 2016
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,465		$	2,761		$	2,704
Noninterest income:
Card income	1,290			1			1,289
Service charges	1,062			1,062			—
Mortgage banking income	207			—			207
All other income (loss)	87			92			(5		)
Total noninterest income	2,646			1,155			1,491
Total revenue, net of interest expense (FTE basis)	8,111			3,916			4,195
Provision for credit losses	760			42			718
Noninterest expense	4,330			2,450			1,880
Income before income taxes (FTE basis)	3,021			1,424			1,597
Income tax expense (FTE basis)	1,101			519			582
Net income	$	1,920		$	905		$	1,015
Net interest yield (FTE basis)	3.35		%	1.78		%	4.30		%
Return on average allocated capital (1)	22			30			18
Efficiency ratio (FTE basis)	53.38			62.56			44.82
Balance Sheet
Average
Total loans and leases	$	253,602		$	4,874		$	248,728
Total earning assets (2)	648,299			616,297			250,115
Total assets (2)	686,985			642,837			262,261
Total deposits	617,967			610,533			7,434
Allocated capital (1)	34,000			12,000			22,000
Period end
Total loans and leases	$	258,991		$	4,938		$	254,053
Total earning assets (2)	662,698			631,172			255,511
Total assets (2)	702,333			658,316			268,002
Total deposits	632,786			625,727			7,059

⁽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. Other companies may define or calculate these measures differently.

⁽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.

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

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

Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017			Fourth Quarter 2016
	2017			2016
Average deposit balances
Checking	$	326,222		$	295,369		$	334,331		$	329,048		$	325,503		$	315,772		$	306,598
Savings	52,133			47,882			52,466			52,687			52,809			50,544			48,549
MMS	231,572			209,638			236,909			234,288			230,363			224,563			217,394
CDs and IRAs	40,470			43,955			38,732			40,067			41,196			41,923			42,592
Non-U.S. and other	2,923			2,807			3,098			2,884			2,916			2,792			2,834
Total average deposit balances	$	653,320		$	599,651		$	665,536		$	658,974		$	652,787		$	635,594		$	617,967
Deposit spreads (excludes noninterest costs)
Checking	2.00		%	1.95		%	2.03		%	2.01		%	2.03		%	1.94		%	1.92		%
Savings	2.30			2.25			2.34			2.35			2.30			2.21			2.21
MMS	1.58			1.24			1.70			1.66			1.71			1.24			1.22
CDs and IRAs	1.43			0.98			1.55			1.48			1.41			1.29			1.17
Non-U.S. and other	1.37			0.83			1.56			1.45			1.31			1.16			1.00
Total deposit spreads	1.84			1.65			1.91			1.88			1.89			1.67			1.64
Client brokerage assets	$	177,045		$	144,696		$	177,045		$	167,274		$	159,131		$	153,786		$	144,696
Digital banking active users (units in thousands) (1)	34,855			32,942			34,855			34,472			33,971			33,702			32,942
Mobile banking active users (units in thousands)	24,238			21,648			24,238			23,572			22,898			22,217			21,648
Financial centers	4,470			4,579			4,470			4,511			4,542			4,559			4,579
ATMs	16,039			15,928			16,039			15,973			15,972			15,939			15,928
Total U.S. credit card(2)
Loans
Average credit card outstandings	$	91,068		$	87,905		$	93,531		$	91,602		$	89,464		$	89,628		$	89,521
Ending credit card outstandings	96,274			92,278			96,274			92,602			90,776			88,552			92,278
Credit quality
Net charge-offs	$	2,513		$	2,269		$	655		$	612		$	640		$	606		$	566
	2.76		%	2.58		%	2.78		%	2.65		%	2.87		%	2.74		%	2.52		%
30+ delinquency	$	1,847		$	1,595		$	1,847		$	1,657		$	1,550		$	1,580		$	1,595
	1.92		%	1.73		%	1.92		%	1.79		%	1.71		%	1.78		%	1.73		%
90+ delinquency	$	900		$	782		$	900		$	810		$	772		$	801		$	782
	0.93		%	0.85		%	0.93		%	0.87		%	0.85		%	0.90		%	0.85		%
Other Total U.S. credit card indicators (2)
Gross interest yield	9.65		%	9.29		%	9.75		%	9.76		%	9.54		%	9.55		%	9.35		%
Risk adjusted margin	8.67			9.04			8.74			8.63			8.40			8.89			9.20
New accounts (in thousands)	4,939			4,979			1,138			1,315			1,302			1,184			1,134
Purchase volumes	$	244,753		$	226,432		$	65,523		$	62,244		$	61,665		$	55,321		$	61,020
Debit card data
Purchase volumes	$	298,641		$	285,612		$	77,912		$	74,769		$	75,349		$	70,611		$	73,296

For footnotes see page 23.

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

Current period 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 (continued)
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017			Fourth Quarter 2016
	2017			2016
Loan production (3):
Total (4):
First mortgage	$	50,581		$	64,153		$	12,705		$	13,183		$	13,251		$	11,442		$	18,351
Home equity	16,924			15,214			4,053			4,133			4,685			4,053			3,565
Consumer Banking:
First mortgage	$	34,065		$	44,510		$	8,386		$	9,044		$	9,006		$	7,629		$	12,303
Home equity	15,199			13,675			3,595			3,722			4,215			3,667			3,140
Mortgage servicing rights at fair value rollforward:
Balance, beginning of period	$	2,278		$	2,680		$	1,889		$	1,996		$	2,129		$	2,278		$	2,012
Net additions	56			91			12			(5		)	14			35			(36		)
Amortization of expected cash flows (5)	(564		)	(649		)	(135		)	(140		)	(142		)	(147		)	(156		)
Other changes in mortgage servicing rights fair value (6)	22			156			26			38			(5		)	(37		)	458
Balance, end of period (7)	$	1,792		$	2,278		$	1,792		$	1,889		$	1,996		$	2,129		$	2,278
Capitalized mortgage servicing rights (% of loans serviced for investors in bps)	70			74			70			71			70			72			74
Mortgage loans serviced for investors (in billions)	$	256		$	307		$	256		$	267		$	284		$	296		$	307
Mortgage banking income
Consumer Banking mortgage banking income
Total production income	$	202		$	663		$	17		$	64		$	67		$	54		$	131
Net servicing income
Servicing fees	588			708			138			143			150			157			166
Other net servicing income	(309		)	(411		)	(75		)	(65		)	(77		)	(92		)	(90		)
Total net servicing income	279			297			63			78			73			65			76
Total Consumer Banking mortgage banking income	481			960			80			142			140			119			207
Other mortgage banking income (predominately in All Other)  (8)
Net servicing income (loss)	125			926			30			48			62			(15		)	288
Other (includes representations and warranties provision)	(382		)	(33		)	(218		)	(210		)	28			18			24
Total other mortgage banking income (predominately in All Other)	(257		)	893			(188		)	(162		)	90			3			312
Total consolidated mortgage banking income	$	224		$	1,853		$	(108	)	$	(20	)	$	230		$	122		$	519

⁽¹⁾  Digital users represents mobile and/or online users across consumer businesses; historical information has been restated primarily due to the sale of the Corporation's non-U.S. consumer credit card business to a third party during the second quarter of 2017.

⁽²⁾  In addition to the U.S. credit card portfolio in Consumer Banking, the remaining U.S. credit card portfolio is primarily 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⁾  Represents the net change in fair value of the MSR asset due to the recognition of modeled cash flows.

⁽⁶⁾  These amounts reflect the changes in modeled MSR fair value primarily due to observed changes in interest rates, periodic adjustments to the valuation model and changes in cash flow assumptions.

⁽⁷⁾  Does not include certain non-U.S. residential mortgage MSR balances, which are recorded in Global Markets.

⁽⁸⁾  Amounts for other mortgage banking income are included in this Consumer Banking table to show the components of consolidated mortgage banking income.

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

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

Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017			Fourth Quarter 2016
	2017			2016
Net interest income (FTE basis)	$	6,173		$	5,759		$	1,520		$	1,496		$	1,597		$	1,560		$	1,449
Noninterest income:
Investment and brokerage services	10,883			10,316			2,810			2,728			2,697			2,648			2,598
All other income	1,534			1,575			353			396			401			384			330
Total noninterest income	12,417			11,891			3,163			3,124			3,098			3,032			2,928
Total revenue, net of interest expense (FTE basis)	18,590			17,650			4,683			4,620			4,695			4,592			4,377
Provision for credit losses	56			68			6			16			11			23			22
Noninterest expense	13,564			13,175			3,472			3,371			3,392			3,329			3,359
Income before income taxes (FTE basis)	4,970			4,407			1,205			1,233			1,292			1,240			996
Income tax expense (FTE basis)	1,882			1,632			463			464			488			467			362
Net income	$	3,088		$	2,775		$	742		$	769		$	804		$	773		$	634
Net interest yield (FTE basis)	2.32		%	2.09		%	2.32		%	2.29		%	2.41		%	2.28		%	2.09		%
Return on average allocated capital (1)	22			21			21			22			23			22			19
Efficiency ratio (FTE basis)	72.96			74.65			74.14			72.95			72.24			72.51			76.74
Balance Sheet
Average
Total loans and leases	$	152,682		$	142,429		$	157,063		$	154,333		$	150,812		$	148,405		$	146,180
Total earning assets (2)	265,670			275,799			259,550			259,564			265,845			277,989			276,172
Total assets (2)	281,517			291,478			276,153			275,570			281,167			293,432			291,761
Total deposits	245,559			256,425			240,126			239,647			245,329			257,386			256,629
Allocated capital (1)	14,000			13,000			14,000			14,000			14,000			14,000			13,000
Period end
Total loans and leases	$	159,378		$	148,179		$	159,378		$	155,871		$	153,468		$	149,110		$	148,179
Total earning assets (2)	267,026			283,151			267,026			259,548			258,744			275,214			283,151
Total assets (2)	284,321			298,931			284,321			276,187			274,746			291,177			298,931
Total deposits	246,994			262,530			246,994			237,771			237,131			254,595			262,530

⁽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. Other companies may define or calculate these measures differently.

⁽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.

Current period 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 Key Indicators
(Dollars in millions, except as noted)
	Year Ended December 31					Fourth Quarter 2017		Third Quarter 2017		Second Quarter 2017		First Quarter 2017		Fourth Quarter 2016
	2017		2016
Revenue by Business
Merrill Lynch Global Wealth Management	$	15,288	$	14,486		$	3,836	$	3,796	$	3,874	$	3,782	$	3,600
U.S. Trust	3,295		3,075			845		822		819		809		775
Other (1)	7		89			2		2		2		1		2
Total revenue, net of interest expense (FTE basis)	$	18,590	$	17,650		$	4,683	$	4,620	$	4,695	$	4,592	$	4,377
Client Balances by Business, at period end
Merrill Lynch Global Wealth Management	$	2,305,664	$	2,102,175		$	2,305,664	$	2,245,499	$	2,196,238	$	2,167,536	$	2,102,175
U.S. Trust	446,199		406,392			446,199		430,684		421,180		417,841		406,392
Total client balances	$	2,751,863	$	2,508,567		$	2,751,863	$	2,676,183	$	2,617,418	$	2,585,377	$	2,508,567
Client Balances by Type, at period end
Assets under management (2)	$	1,080,747	$	886,148		$	1,080,747	$	1,036,048	$	990,709	$	946,778	$	886,148
Brokerage assets	1,125,282		1,085,826			1,125,282		1,112,178		1,104,775		1,106,109		1,085,826
Assets in custody	136,708		123,066			136,708		131,680		128,538		126,086		123,066
Deposits	246,994		262,530			246,994		237,771		237,131		254,595		262,530
Loans and leases (3)	162,132		150,997			162,132		158,506		156,265		151,809		150,997
Total client balances	$	2,751,863	$	2,508,567		$	2,751,863	$	2,676,183	$	2,617,418	$	2,585,377	$	2,508,567
Assets Under Management Rollforward
Assets under management, beginning balance	$	886,148	$	900,863		$	1,036,048	$	990,709	$	946,778	$	886,148	$	871,026
Net client flows (4)	95,707		30,582			18,228		20,749		27,516		29,214		18,934
Market valuation/other (1)	98,892		(45,297		)	26,471		24,590		16,415		31,416		(3,812		)
Total assets under management, ending balance	$	1,080,747	$	886,148		$	1,080,747	$	1,036,048	$	990,709	$	946,778	$	886,148
Associates, at period end(5, 6)
Number of financial advisors	17,355		16,820			17,355		17,221		17,017		16,678		16,820
Total wealth advisors, including financial advisors	19,238		18,678			19,238		19,108		18,881		18,538		18,678
Total primary sales professionals, including financial advisors and wealth advisors	20,341		19,629			20,341		20,115		19,863		19,536		19,629
Merrill Lynch Global Wealth Management Metric(6)
Financial advisor productivity (7) (in thousands)	$	1,005	$	974		$	994	$	994	$	1,040	$	993	$	960
U.S. Trust Metric, at period end (6)
Primary sales professionals	1,714		1,677			1,714		1,696		1,665		1,662		1,677

⁽¹⁾  Includes the results of BofA Global Capital Management, the cash management division of Bank of America, and certain administrative items. Also reflects the sale to a third party of approximately $80 billion of BofA Global Capital Management's AUM in 2016.

⁽²⁾  Defined as managed assets under advisory and/or discretion of GWIM.

⁽³⁾  Includes margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet.

⁽⁴⁾  For the year ended December 31, 2016, net client flows includes $8.0 billion of net outflows related to BofA Global Capital Management's AUM that were sold in 2016.

⁽⁵⁾  Includes financial advisors in the Consumer Banking segmentof 2,402, 2,267, 2,206, 2,121 and 2,200 at December 31, 2017, September 30, 2017, June 30, 2017, March 31, 2017 and December 31, 2016, respectively.

⁽⁶⁾  Associate computation is based on headcount.

⁽⁷⁾  Financial advisor productivity is defined as annualized Merrill Lynch Global Wealth Management total revenue, excluding the allocation of certain ALM activities, divided by the total average number of financial advisors (excluding financial advisors in the Consumer Banking segment).

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

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

Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017			Fourth Quarter 2016
	2017			2016
Net interest income (FTE basis)	$	10,504		$	9,471		$	2,719		$	2,642		$	2,541		$	2,602		$	2,418
Noninterest income:
Service charges	3,125			3,094			775			776			809			765			810
Investment banking fees	3,471			2,884			811			806			929			925			654
All other income	2,899			2,996			713			763			760			663			667
Total noninterest income	9,495			8,974			2,299			2,345			2,498			2,353			2,131
Total revenue, net of interest expense (FTE basis)	19,999			18,445			5,018			4,987			5,039			4,955			4,549
Provision for credit losses	212			883			132			48			15			17			13
Noninterest expense	8,596			8,486			2,160			2,119			2,154			2,163			2,036
Income before income taxes (FTE basis)	11,191			9,076			2,726			2,820			2,870			2,775			2,500
Income tax expense (FTE basis)	4,238			3,347			1,046			1,062			1,084			1,046			912
Net income	$	6,953		$	5,729		$	1,680		$	1,758		$	1,786		$	1,729		$	1,588
Net interest yield (FTE basis)	2.93		%	2.76		%	3.00		%	2.94		%	2.85		%	2.93		%	2.76		%
Return on average allocated capital (1)	17			15			17			17			18			18			17
Efficiency ratio (FTE basis)	42.98			46.01			43.02			42.52			42.72			43.66			44.76
Balance Sheet
Average
Total loans and leases	$	346,089		$	333,820		$	350,262		$	346,093		$	345,063		$	342,857		$	337,828
Total earning assets (2)	358,302			342,859			359,199			357,014			357,407			359,605			348,632
Total assets (2)	416,038			396,737			419,513			414,755			413,950			415,908			403,625
Total deposits	312,859			304,741			329,761			315,692			300,483			305,197			315,359
Allocated capital (1)	40,000			37,000			40,000			40,000			40,000			40,000			37,000
Period end
Total loans and leases	$	350,668		$	339,271		$	350,668		$	349,838		$	344,457		$	344,452		$	339,271
Total earning assets (2)	365,560			350,110			365,560			364,591			353,649			360,288			350,110
Total assets (2)	424,533			408,330			424,533			423,185			410,580			416,763			408,330
Total deposits	329,273			307,630			329,273			319,545			303,205			297,163			307,630

⁽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. Other companies may define or calculate these measures differently.

⁽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.

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

Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017			Fourth Quarter 2016
	2017			2016
Investment Banking fees (1)
Advisory (2)	$	1,557		$	1,156		$	381		$	321		$	465		$	390		$	243
Debt issuance	1,506			1,407			336			397			361			412			347
Equity issuance	408			321			94			88			103			123			64
Total Investment Banking fees (3)	$	3,471		$	2,884		$	811		$	806		$	929		$	925		$	654
Business Lending
Corporate	$	4,387		$	4,285		$	1,065		$	1,127		$	1,093		$	1,102		$	1,016
Commercial	4,280			4,139			1,094			1,090			1,052			1,044			1,011
Business Banking	404			376			103			101			99			101			96
Total Business Lending revenue	$	9,071		$	8,800		$	2,262		$	2,318		$	2,244		$	2,247		$	2,123
Global Transaction Services
Corporate	$	3,322		$	2,996		$	852		$	840		$	833		$	797		$	826
Commercial	3,017			2,718			800			758			752			707			682
Business Banking	849			740			224			217			211			197			190
Total Global Transaction Services revenue	$	7,188		$	6,454		$	1,876		$	1,815		$	1,796		$	1,701		$	1,698
Average deposit balances
Interest-bearing	$	87,390		$	70,292		$	106,537		$	94,232		$	77,490		$	70,831		$	73,141
Noninterest-bearing	225,469			234,449			223,224			221,460			222,993			234,366			242,218
Total average deposits	$	312,859		$	304,741		$	329,761		$	315,692		$	300,483		$	305,197		$	315,359
Loan spread	1.58		%	1.62		%	1.56		%	1.56		%	1.56		%	1.65		%	1.57		%
Provision for credit losses	$	212		$	883		$	132		$	48		$	15		$	17		$	13
Credit quality (4, 5)
Reservable utilized criticized exposure	$	12,038		$	14,841		$	12,038		$	13,273		$	14,074		$	14,567		$	14,841
	3.21		%	4.08		%	3.21		%	3.55		%	3.80		%	3.95		%	4.08		%
Nonperforming loans, leases and foreclosed properties	$	1,118		$	1,528		$	1,118		$	1,123		$	1,345		$	1,527		$	1,528
	0.32		%	0.45		%	0.32		%	0.32		%	0.39		%	0.44		%	0.45		%
Average loans and leases by product
U.S. commercial	$	199,620		$	190,419		$	201,432		$	197,841		$	200,577		$	198,620		$	194,692
Non-U.S. commercial	74,657			72,349			77,339			76,226			72,729			72,261			71,888
Commercial real estate	49,097			48,870			49,194			49,247			49,122			48,818			48,741
Commercial lease financing	22,713			22,176			22,297			22,778			22,634			23,152			22,505
Other	2			6			—			1			1			6			2
Total average loans and leases	$	346,089		$	333,820		$	350,262		$	346,093		$	345,063		$	342,857		$	337,828
Total Corporation Investment Banking fees
Advisory (2)	$	1,691		$	1,269		$	429		$	374		$	483		$	405		$	262
Debt issuance	3,635			3,276			846			962			901			926			810
Equity issuance	940			864			204			193			231			312			183
Total investment banking fees including self-led deals	6,266			5,409			1,479			1,529			1,615			1,643			1,255
Self-led deals	(255		)	(168		)	(61		)	(52		)	(83		)	(59		)	(33		)
Total Investment Banking fees	$	6,011		$	5,241		$	1,418		$	1,477		$	1,532		$	1,584		$	1,222

⁽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 other 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.

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

Bank of America Corporation and Subsidiaries
Investment Banking Product Rankings
	Year Ended December 31, 2017
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
Net investment banking revenue	3	6.0	%	3	8.3	%
Announced mergers and acquisitions	5	16.4		5	19.9
Equity capital markets	5	5.0		4	9.2
Debt capital markets	3	6.3		3	10.2
High-yield corporate debt	4	6.8		2	9.3
Leveraged loans	2	8.0		2	9.9
Mortgage-backed securities	2	10.3		4	11.1
Asset-backed securities	2	11.5		2	14.3
Convertible debt	4	5.5		2	13.8
Common stock underwriting	5	4.9		4	8.4
Investment-grade corporate debt	1	6.3		2	11.8
Syndicated loans	1	9.1		1	12.5

Source: Dealogic data as of January 2, 2018. Figures above include self-led transactions.

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

• Debt capital markets excludes loans but includes agencies.

• Mergers and acquisitions fees included in net investment banking revenue 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:
Leveraged loans	Investment-grade corporate debt
Mortgage-backed securities	Syndicated loans
Asset-backed securities	Debt capital markets
U.S. top 3 rankings in:
High-yield corporate debt	Investment-grade corporate debt
Leveraged loans	Syndicated loans
Asset-backed securities	Debt capital markets
Convertible debt

Top 3 rankings excluding self-led deals:

Global: Leveraged loans, Mortgage-backed securities, Asset-backed securities, 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, Debt capital markets

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

Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017			Fourth Quarter 2016
	2017			2016
Net interest income (FTE basis)	$	3,744		$	4,558		$	932		$	899		$	864		$	1,049		$	1,167
Noninterest income:
Investment and brokerage services	2,049			2,102			501			496			521			531			518
Investment banking fees	2,476			2,296			596			624			590			666			554
Trading account profits	6,710			6,550			1,076			1,714			1,743			2,177			1,149
All other income	972			584			290			168			229			285			85
Total noninterest income	12,207			11,532			2,463			3,002			3,083			3,659			2,306
Total revenue, net of interest expense (FTE basis) (1)	15,951			16,090			3,395			3,901			3,947			4,708			3,473
Provision for credit losses	164			31			162			(6		)	25			(17		)	8
Noninterest expense	10,731			10,169			2,613			2,711			2,650			2,757			2,482
Income before income taxes (FTE basis)	5,056			5,890			620			1,196			1,272			1,968			983
Income tax expense (FTE basis)	1,763			2,072			210			440			442			671			325
Net income	$	3,293		$	3,818		$	410		$	756		$	830		$	1,297		$	658
Return on average allocated capital (2)	9		%	10		%	5		%	9		%	10		%	15		%	7		%
Efficiency ratio (FTE basis)	67.28			63.21			77.01			69.48			67.12			58.56			71.45
Balance Sheet
Average
Total trading-related assets (3)	$	441,812		$	412,905		$	449,737		$	442,283		$	452,563		$	422,359		$	417,184
Total loans and leases	71,413			69,641			73,552			72,347			69,638			70,064			70,615
Total earning assets (3)	449,441			423,579			464,171			446,754			456,588			429,906			430,600
Total assets	638,674			585,341			659,411			642,430			645,227			607,010			595,275
Total deposits	32,864			34,250			34,250			32,125			31,919			33,158			33,775
Allocated capital (2)	35,000			37,000			35,000			35,000			35,000			35,000			37,000
Period end
Total trading-related assets (3)	$	419,375		$	380,562		$	419,375		$	426,371		$	436,193		$	418,259		$	380,562
Total loans and leases	76,778			72,743			76,778			76,225			73,973			71,053			72,743
Total earning assets (3)	449,314			397,022			449,314			441,656			448,613			425,582			397,022
Total assets	629,007			566,060			629,007			629,270			633,193			604,014			566,060
Total deposits	34,029			34,927			34,029			33,382			33,363			33,629			34,927
Trading-related assets (average)
Trading account securities	$	216,996		$	185,135		$	225,330		$	216,988		$	221,569		$	203,866		$	188,729
Reverse repurchases	101,795			89,715			107,125			101,556			101,551			96,835			91,198
Securities borrowed	82,210			87,286			77,580			81,950			88,041			81,312			90,643
Derivative assets	40,811			50,769			39,702			41,789			41,402			40,346			46,614
Total trading-related assets (3)	$	441,812		$	412,905		$	449,737		$	442,283		$	452,563		$	422,359		$	417,184

⁽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 30.

⁽²⁾  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. Other companies may define or calculate these measures differently.

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

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

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

Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	Year Ended December 31				Fourth Quarter 2017		Third Quarter 2017		Second Quarter 2017		First Quarter 2017		Fourth Quarter 2016
	2017		2016
Sales and trading revenue (1)
Fixed income, currency and commodities	$	8,665	$	9,373	$	1,597	$	2,152	$	2,106	$	2,810	$	1,866
Equities	4,112		4,017		942		977		1,104		1,089		945
Total sales and trading revenue	$	12,777	$	13,390	$	2,539	$	3,129	$	3,210	$	3,899	$	2,811
Sales and trading revenue, excluding debit valuation adjustment (2)
Fixed income, currency and commodities	$	9,059	$	9,611	$	1,709	$	2,166	$	2,254	$	2,930	$	1,964
Equities	4,146		4,017		948		984		1,115		1,099		948
Total sales and trading revenue, excluding debit valuation adjustment	$	13,205	$	13,628	$	2,657	$	3,150	$	3,369	$	4,029	$	2,912
Sales and trading revenue breakdown
Net interest income	$	3,260	$	4,155	$	805	$	777	$	749	$	929	$	1,061
Commissions	2,017		2,071		492		487		514		524		510
Trading	6,706		6,547		1,075		1,712		1,743		2,176		1,147
Other	794		617		167		153		204		270		93
Total sales and trading revenue	$	12,777	$	13,390	$	2,539	$	3,129	$	3,210	$	3,899	$	2,811

⁽¹⁾  Includes Global Banking sales and trading revenue of $236 million and $406 million for the years ended December 31, 2017 and 2016; $61 million, $61 million, $56 million and $58 million for the fourth, third, second and first quarters of 2017, respectively, and $68 million for the fourth quarter of 2016.

⁽²⁾  For this presentation, sales and trading revenue excludes net debit valuation adjustment (DVA) gains (losses) which include net DVA on derivatives, as well as amortization of own credit portion of purchase discount and realized DVA on structured liabilities. Sales and trading revenue excluding net DVA gains (losses) represents a non-GAAP financial measure. We believe the use of this non-GAAP financial measure provides additional useful information to assess the underlying performance of these businesses and to allow better comparison of period-to-period operating performance.

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

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

Bank of America Corporation and Subsidiaries
All Other Results (1)
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017			Fourth Quarter 2016
	2017			2016
Net interest income (FTE basis)	$	864		$	918		$	189		$	152		$	260		$	263		$	27
Noninterest income:
Card income	69			189			(2		)	—			29			42			45
Mortgage banking income (loss)	(263		)	889			(191		)	(163		)	89			2			311
Gains on sales of debt securities	255			490			(23		)	125			101			52			—
All other income (loss)	(1,709		)	(1,801		)	(1,336		)	(317		)	397			(453		)	(669		)
Total noninterest income	(1,648		)	(233		)	(1,552		)	(355		)	616			(357		)	(313		)
Total revenue, net of interest expense (FTE basis)	(784		)	685			(1,363		)	(203		)	876			(94		)	(286		)
Provision for credit losses	(561		)	(100		)	(185		)	(191		)	(159		)	(26		)	(29		)
Noninterest expense	4,065			5,599			523			733			1,375			1,434			1,206
Loss before income taxes (FTE basis)	(4,288		)	(4,814		)	(1,701		)	(745		)	(340		)	(1,502		)	(1,463		)
Income tax expense (benefit) (FTE basis)	(979		)	(3,142		)	963			(799		)	5			(1,148		)	(1,198		)
Net income (loss)	$	(3,309	)	$	(1,672	)	$	(2,664	)	$	54		$	(345	)	$	(354	)	$	(265	)
Balance Sheet
Average
Total loans and leases	$	82,489		$	108,735		$	71,197		$	76,546		$	87,667		$	94,873		$	100,171
Total assets (2)	206,998			248,287			208,855			207,272			204,196			207,652			230,745
Total deposits	25,194			27,494			23,899			25,273			26,320			25,297			27,218
Period end
Total loans and leases (3)	$	69,452		$	96,713		$	69,452		$	72,823		$	78,830		$	92,711		$	96,713
Total assets (4)	194,048			212,413			194,048			213,019			201,019			201,753			212,413
Total deposits	22,719			23,061			22,719			24,072			26,603			25,147			23,061

⁽¹⁾  All Other consists of ALM activities, equity investments, non-core mortgage loans and servicing activities, the net impact of periodic revisions to the MSR valuation model for both core and non-core MSRs and the related economic hedge results and ineffectiveness, other liquidating businesses, residual expense allocations and other. ALM activities encompass certain residential mortgages, debt securities, interest rate and foreign currency risk management activities, the impact of certain allocation methodologies and accounting hedge ineffectiveness. 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 $515.6 billion and $500.0 billion for the years ended December 31, 2017 and 2016; $508.6 billion, $510.1 billion, $521.8 billion, $522.0 billion and $506.5 billion for the fourth, third, second, and first quarters of 2017, respectively, and the fourth quarter of 2016.

⁽³⁾  Includes $9.5 billion and $9.2 billion of non-U.S. credit card loans, which were included in assets of business held for sale on the Consolidated Balance Sheetat March 31, 2017 and December 31, 2016. During the second quarter of 2017, the Corporation sold its non-U.S. consumer credit card business.

⁽⁴⁾  Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $520.4 billion, $515.0 billion, $517.7 billion, $543.4 billion and $518.7 billion at December 31, 2017, September 30, 2017, June 30, 2017, March 31, 2017 and December 31, 2016, respectively.

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

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

Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	December 31 2017		September 30 2017		December 31 2016
Consumer
Residential mortgage (1)	$	203,811	$	199,446	$	191,797
Home equity	57,744		59,752		66,443
U.S. credit card	96,285		92,602		92,278
Non-U.S. credit card (2)	—		—		9,214
Direct/Indirect consumer (3)	93,830		93,391		94,089
Other consumer (4)	2,678		2,424		2,499
Total consumer loans excluding loans accounted for under the fair value option	454,348		447,615		456,320
Consumer loans accounted for under the fair value option (5)	928		978		1,051
Total consumer	455,276		448,593		457,371
Commercial
U.S. commercial (6)	298,485		296,280		283,365
Non-U.S. commercial	97,792		95,896		89,397
Commercial real estate (7)	58,298		59,628		57,355
Commercial lease financing	22,116		21,413		22,375
Total commercial loans excluding loans accounted for under the fair value option	476,691		473,217		452,492
Commercial loans accounted for under the fair value option (5)	4,782		5,307		6,034
Total commercial	481,473		478,524		458,526
Less: Loans of business held for sale (8)	—		—		(9,214		)
Total loans and leases	$	936,749	$	927,117	$	906,683

⁽¹⁾  Includes pay option loans of $1.4 billion, $1.5 billion and $1.8 billion at December 31, 2017, September 30, 2017 and December 31, 2016, respectively. The Corporation no longer originates pay option loans.

⁽²⁾  During the second quarter of 2017, the Corporation sold its non-U.S. consumer credit card business.

⁽³⁾  Includes auto and specialty lending loans of $49.9 billion, $50.0 billion and $48.9 billion, unsecured consumer lending loans of $469 million, $484 million and $585 million, U.S. securities-based lending loans of $39.8 billion, $39.3 billion and $40.1 billion, non-U.S. consumer loans of $3.0 billion, $2.9 billion and $3.0 billion, student loans of $0, $0 and $497 million and other consumer loans of $684 million, $682 million and $1.1 billion at December 31, 2017, September 30, 2017 and December 31, 2016, respectively.

⁽⁴⁾  Includes consumer finance loans of $0, $0 and $465 million, consumer leases of $2.5 billion, $2.3 billion and $1.9 billion and consumer overdrafts of $163 million, $160 million and $157 million at December 31, 2017, September 30, 2017 and December 31, 2016, respectively.

⁽⁵⁾  Consumer loans accounted for under the fair value option were residential mortgage loans of $567 million, $615 million and $710 million and home equity loans of $361 million, $363 million and $341 million at December 31, 2017, September 30, 2017 and December 31, 2016, respectively. Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.6 billion, $2.8 billion and $2.9 billion and non-U.S. commercial loans of $2.2 billion, $2.5 billion and $3.1 billion at December 31, 2017, September 30, 2017 and December 31, 2016, respectively.

⁽⁶⁾  Includes U.S. small business commercial loans, including card-related products, of $13.6 billion, $13.6 billion and $13.0 billion at December 31, 2017, September 30, 2017 and December 31, 2016, respectively.

⁽⁷⁾  Includes U.S. commercial real estate loans of $54.8 billion, $55.5 billion and $54.3 billion and non-U.S. commercial real estate loans of $3.5 billion, $4.2 billion and $3.1 billion at December 31, 2017, September 30, 2017 and December 31, 2016, respectively.

⁽⁸⁾  Represents non-U.S. credit card loans, which were included in assets of business held for sale on the Consolidated Balance Sheet. See footnote 2 for more information.

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

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

Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment and All Other
(Dollars in millions)
	Fourth Quarter 2017
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All  Other
Consumer
Residential mortgage	$	202,155	$	73,137	$	71,222	$	—	$	—	$	57,796
Home equity	59,059		40,537		4,201		—		360		13,961
U.S. credit card	93,531		90,479		3,052		—		—		—
Direct/Indirect consumer	93,547		50,535		43,009		—		—		3
Other consumer	2,566		2,562		3		—		—		1
Total consumer	450,858		257,250		121,487		—		360		71,761
Commercial
U.S. commercial	297,851		18,448		32,035		201,432		45,719		217
Non-U.S. commercial	98,692		—		25		77,339		21,226		102
Commercial real estate	58,983		18		3,513		49,194		6,228		30
Commercial lease financing	21,406		—		3		22,297		19		(913		)
Total commercial	476,932		18,466		35,576		350,262		73,192		(564		)
Total loans and leases	$	927,790	$	275,716	$	157,063	$	350,262	$	73,552	$	71,197
	Third Quarter 2017
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All  Other
Consumer
Residential mortgage	$	199,240	$	68,167	$	69,518	$	—	$	—	$	61,555
Home equity	61,225		41,585		4,395		—		364		14,881
U.S. credit card	91,602		88,614		2,988		—		—		—
Direct/Indirect consumer	93,510		50,067		42,989		—		—		454
Other consumer	2,762		2,349		5		1		—		407
Total consumer	448,339		250,782		119,895		1		364		77,297
Commercial
U.S. commercial	293,203		18,007		30,999		197,841		46,112		244
Non-U.S. commercial	95,725		1		24		76,226		19,437		37
Commercial real estate	59,044		20		3,412		49,247		6,328		37
Commercial lease financing	21,818		—		3		22,778		106		(1,069		)
Total commercial	469,790		18,028		34,438		346,092		71,983		(751		)
Total loans and leases	$	918,129	$	268,810	$	154,333	$	346,093	$	72,347	$	76,546
	Fourth Quarter 2016
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All  Other
Consumer
Residential mortgage	$	191,003	$	53,967	$	63,566	$	2	$	—	$	73,468
Home equity	68,021		45,209		4,937		—		332		17,543
U.S. credit card	89,521		86,450		3,071		—		—		—
Non-U.S. credit card (1)	9,051		—		—		—		—		9,051
Direct/Indirect consumer	93,527		48,839		44,178		—		—		510
Other consumer	2,462		1,976		5		—		—		481
Total consumer	453,585		236,441		115,757		2		332		101,053
Commercial
U.S. commercial	283,491		17,140		27,579		194,692		43,778		302
Non-U.S. commercial	92,344		—		22		71,888		20,403		31
Commercial real estate	57,540		21		2,819		48,741		5,891		68
Commercial lease financing	21,436		—		3		22,505		211		(1,283		)
Total commercial	454,811		17,161		30,423		337,826		70,283		(882		)
Total loans and leases (1)	$	908,396	$	253,602	$	146,180	$	337,828	$	70,615	$	100,171

⁽¹⁾  Non-U.S. credit card loans were included in assets of business held for sale on the Consolidated Balance Sheet. During the second quarter of 2017, the Corporation sold its non-U.S. consumer credit card business.

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

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

Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry (1, 2, 3, 4)
(Dollars in millions)
	Commercial Utilized						Total Commercial Committed
	December 31 2017		September 30 2017		December 31 2016		December 31 2017		September 30 2017		December 31 2016
Asset managers and funds	$	59,190	$	57,231	$	57,659	$	91,092	$	87,442	$	85,561
Real estate (5)	61,940		64,030		61,203		83,773		85,351		83,658
Capital goods	36,705		35,919		34,278		70,417		67,385		64,202
Government and public education	48,684		46,537		45,694		58,067		56,494		54,626
Healthcare equipment and services	37,780		38,201		37,656		57,256		57,425		64,663
Finance companies	34,050		34,857		35,452		53,107		53,406		52,953
Retailing	26,117		27,136		25,577		48,796		48,847		49,082
Materials	24,001		24,463		22,578		47,386		47,546		44,357
Consumer services	27,191		27,446		27,413		43,605		42,410		42,523
Food, beverage and tobacco	23,252		23,471		19,669		42,815		42,650		37,145
Energy	16,345		16,251		19,686		36,765		36,629		39,231
Commercial services and supplies	22,100		22,137		21,241		35,496		35,448		35,360
Media	19,155		13,400		13,419		33,955		25,998		27,116
Global commercial banks	29,491		26,962		27,267		31,764		29,222		30,712
Transportation	21,704		21,781		19,805		29,946		30,124		27,483
Utilities	11,342		12,078		11,349		27,935		27,281		27,140
Individuals and trusts	18,549		18,860		16,364		25,097		24,728		21,764
Technology hardware and equipment	10,728		10,824		9,625		22,071		23,777		25,318
Vehicle dealers	16,896		15,924		16,053		20,361		19,818		19,425
Pharmaceuticals and biotechnology	5,653		7,568		5,539		18,623		20,231		18,910
Software and services	8,562		9,256		7,991		18,202		18,440		19,790
Consumer durables and apparel	8,859		8,878		8,112		17,296		17,207		15,794
Food and staples retailing	4,955		5,006		4,795		15,589		9,367		8,869
Automobiles and components	5,988		5,710		5,459		13,318		12,687		12,969
Telecommunication services	6,389		5,870		6,317		13,108		12,935		16,925
Insurance	6,411		6,731		7,406		12,990		13,021		13,936
Religious and social organizations	4,454		4,196		4,423		6,318		6,133		6,252
Financial markets infrastructure (clearinghouses)	688		649		656		2,403		2,446		3,107
Other	3,621		5,049		2,206		3,616		5,044		2,210
Total commercial credit exposure by industry	$	600,800	$	596,421	$	574,892	$	981,167	$	959,492	$	951,081

⁽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 cash collateral of $34.6 billion, $35.6 billion and $43.3 billion at December 31, 2017, September 30, 2017 and December 31, 2016, respectively. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $23.6 billion, $22.3 billion and $22.9 billion, which consists primarily of other marketable securities, at December 31, 2017, September 30, 2017 and December 31, 2016, respectively.

⁽²⁾  Total utilized and total committed exposure includes loans of $4.8 billion, $5.3 billion and $6.0 billion and issued letters of credit with a notional amount of $232 million, $234 million and $284 million accounted for under the fair value option at December 31, 2017, September 30, 2017 and December 31, 2016, respectively. In addition, total committed exposure includes unfunded loan commitments accounted for under the fair value option with a notional amount of $4.6 billion, $4.7 billion and $6.7 billion at December 31, 2017, September 30, 2017 and December 31, 2016, respectively.

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

⁽⁴⁾  Includes the notional amount of unfunded legally binding lending commitments net of amounts distributed (e.g., syndicated or participated) to other financial institutions.

⁽⁵⁾  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.

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

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

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		Securities/ Other Investments (2)		Country Exposure at December 31 2017		Hedges and Credit Default Protection (3)			Net Country Exposure at December 31 2017 (4)		Increase (Decrease) from September 30 2017
United Kingdom	$	20,089	$	14,906	$	5,278	$	1,962	$	42,235	$	(4,640	)	$	37,595	$	(8,107	)
Germany	12,572		9,856		1,061		1,102		24,591		(3,088		)	21,503		(1,680		)
Canada	7,037		7,645		2,016		2,579		19,277		(554		)	18,723		(769		)
China	13,634		728		746		1,058		16,166		(241		)	15,925		1,742
Brazil	7,688		501		342		2,726		11,257		(541		)	10,716		(871		)
Australia	5,596		2,840		575		2,022		11,033		(444		)	10,589		789
France	4,976		5,591		2,191		2,811		15,569		(5,026		)	10,543		(947		)
India	7,229		316		375		3,328		11,248		(751		)	10,497		435
Japan	7,399		631		923		1,669		10,622		(1,532		)	9,090		(7,546		)
Hong Kong	6,925		187		585		1,056		8,753		(75		)	8,678		392
Netherlands	5,357		3,212		650		930		10,149		(1,682		)	8,467		(334		)
South Korea	4,934		544		635		2,208		8,321		(420		)	7,901		(80		)
Singapore	3,571		312		504		1,953		6,340		(77		)	6,263		99
Switzerland	3,792		2,810		274		184		7,060		(1,263		)	5,797		496
Mexico	2,883		2,446		226		385		5,940		(453		)	5,487		(1,360		)
Italy	2,791		1,490		512		600		5,393		(1,147		)	4,246		245
Belgium	2,440		1,184		82		511		4,217		(252		)	3,965		62
United Arab Emirates	2,843		351		247		43		3,484		(97		)	3,387		819
Spain	2,041		820		260		1,232		4,353		(1,245		)	3,108		62
Turkey	2,761		83		66		82		2,992		(3		)	2,989		(120		)
Total top 20 non-U.S. countries exposure	$	126,558	$	56,453	$	17,548	$	28,441	$	229,000	$	(23,531	)	$	205,469	$	(16,673	)

⁽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⁾  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.

⁽³⁾  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.

⁽⁴⁾  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.

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

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	December 31 2017			September 30 2017			June 30 2017			March 31 2017			December 31 2016
Residential mortgage	$	2,476		$	2,518		$	2,579		$	2,729		$	3,056
Home equity	2,644			2,691			2,681			2,796			2,918
Direct/Indirect consumer	46			43			19			19			28
Other consumer	—			—			3			2			2
Total consumer	5,166			5,252			5,282			5,546			6,004
U.S. commercial	814			863			1,039			1,246			1,256
Non-U.S. commercial	299			244			269			311			279
Commercial real estate	112			130			123			74			72
Commercial lease financing	24			26			28			37			36
	1,249			1,263			1,459			1,668			1,643
U.S. small business commercial	55			55			61			60			60
Total commercial	1,304			1,318			1,520			1,728			1,703
Total nonperforming loans and leases	6,470			6,570			6,802			7,274			7,707
Foreclosed properties (1)	288			299			325			363			377
Total nonperforming loans, leases and foreclosed properties (2, 3, 4)	$	6,758		$	6,869		$	7,127		$	7,637		$	8,084
Fully-insured home loans past due 30 days or more and still accruing	$	4,466		$	4,721		$	4,970		$	5,531		$	6,397
Consumer credit card past due 30 days or more and still accruing (5)	1,847			1,657			1,550			1,717			1,725
Other loans past due 30 days or more and still accruing	3,845			3,885			3,428			4,170			4,894
Total loans past due 30 days or more and still accruing (3, 6, 7)	$	10,158		$	10,263		$	9,948		$	11,418		$	13,016
Fully-insured home loans past due 90 days or more and still accruing	$	3,230		$	3,372		$	3,699		$	4,226		$	4,793
Consumer credit card past due 90 days or more and still accruing (8)	900			810			772			872			848
Other loans past due 90 days or more and still accruing	285			220			199			270			246
Total loans past due 90 days or more and still accruing (3, 6, 7)	$	4,415		$	4,402		$	4,670		$	5,368		$	5,887
Nonperforming loans, leases and foreclosed properties/Total assets (9)	0.30		%	0.30		%	0.32		%	0.34		%	0.37		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties (9)	0.73			0.75			0.78			0.84			0.89
Nonperforming loans and leases/Total loans and leases (9)	0.69			0.71			0.75			0.80			0.85
Commercial utilized reservable criticized exposure (10)	$	13,563		$	14,824		$	15,640		$	16,068		$	16,320
Commercial utilized reservable criticized exposure/Commercial utilized reservable exposure (10)	2.65		%	2.91		%	3.13		%	3.27		%	3.35		%
Total commercial utilized criticized exposure/Commercial utilized exposure (10)	2.58			2.93			3.14			3.19			3.24

⁽¹⁾  Foreclosed property balances do not include properties insured by certain government-guaranteed loans, principally loans insured by the Federal Housing Administration (FHA), that entered foreclosure of $801 million, $879 million, $1.0 billion, $1.1 billion and $1.2 billion at December 31, 2017, September 30, 2017, June 30, 2017, March 31, 2017 and December 31, 2016, respectively.

⁽²⁾  Balances do not include past due consumer credit card, consumer loans secured by real estate where repayments are insured by the FHA 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:	December 31 2017		September 30 2017		June 30 2017		March 31 2017		December 31 2016
Nonperforming loans held-for-sale	$	341	$	325	$	267	$	426	$	264
Nonperforming loans accounted for under the fair value option	69		62		79		95		132
Nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010	26		24		22		28		27

⁽⁵⁾  Includes $137 million and $130 million of non-U.S. credit card loans at March 31, 2017 and December 31, 2016, which were included in assets of business held for sale on the Consolidated Balance Sheet. During the second quarter of 2017, the Corporation sold its non-U.S. consumer credit card business.

⁽⁶⁾  Balances do not include loans held-for-sale past due 30 days or more and still accruing of $8 million, $42 million, $25 million, $137 million and $261 million at December 31, 2017, September 30, 2017, June 30, 2017, March 31, 2017 and December 31, 2016, respectively, and loans held-for-sale past due 90 days or more and still accruing of $0, $6 million, $0, $82 million and $182 million at December 31, 2017, September 30, 2017, June 30, 2017, March 31, 2017 and December 31, 2016, respectively. At December 31, 2017, September 30, 2017, June 30, 2017, March 31, 2017 and December 31, 2016, there were $32 million, $40 million, $37 million, $31 million and $38 million, respectively, of loans accounted for under the fair value option past due 30 days or more and still accruing interest.

⁽⁷⁾  These balances are excluded from total nonperforming loans, leases and foreclosed properties.

⁽⁸⁾  Includes $71 million and $66 million of non-U.S. credit card loans at March 31, 2017 and December 31, 2016, which were included in assets of business held for sale on the Consolidated Balance Sheet.

⁽⁹⁾  Total assets and total loans and leases do not include loans accounted for under the fair value option of $5.7 billion, $6.3 billion, $7.3 billion, $7.5 billion and $7.1 billion at December 31, 2017, September 30, 2017, June 30, 2017, March 31, 2017 and December 31, 2016, respectively.

⁽¹⁰⁾  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.

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

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity (1)
(Dollars in millions)
	Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017			Fourth Quarter 2016
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	5,252		$	5,282		$	5,546		$	6,004		$	6,350
Additions	755			999			682			818			911
Reductions:
Paydowns and payoffs	(173		)	(117		)	(170		)	(230		)	(190		)
Sales	(88		)	(162		)	(119		)	(142		)	(273		)
Returns to performing status (2)	(337		)	(347		)	(368		)	(386		)	(408		)
Charge-offs (3)	(193		)	(346		)	(259		)	(240		)	(269		)
Transfers to foreclosed properties	(50		)	(57		)	(53		)	(57		)	(62		)
Transfers (to) from loans held-for-sale	—			—			23			(221		)	(55		)
Total net reductions to nonperforming loans and leases	(86		)	(30		)	(264		)	(458		)	(346		)
Total nonperforming consumer loans and leases, end of period	5,166			5,252			5,282			5,546			6,004
Foreclosed properties	236			259			285			328			363
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	5,402		$	5,511		$	5,567		$	5,874		$	6,367
Nonperforming Commercial Loans and Leases (4):
Balance, beginning of period	$	1,318		$	1,520		$	1,728		$	1,703		$	1,999
Additions	444			412			288			472			258
Reductions:
Paydowns	(127		)	(270		)	(266		)	(267		)	(226		)
Sales	(20		)	(61		)	(33		)	(22		)	(152		)
Return to performing status (5)	(40		)	(100		)	(86		)	(54		)	(90		)
Charge-offs	(143		)	(145		)	(85		)	(82		)	(84		)
Transfers to foreclosed properties	(13		)	—			(5		)	(22		)	(2		)
Transfers to loans held-for-sale	(115		)	(38		)	(21		)	—			—
Total net additions (reductions) to nonperforming loans and leases	(14		)	(202		)	(208		)	25			(296		)
Total nonperforming commercial loans and leases, end of period	1,304			1,318			1,520			1,728			1,703
Foreclosed properties	52			40			40			35			14
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	1,356		$	1,358		$	1,560		$	1,763		$	1,717

⁽¹⁾  For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 36.

⁽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.

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

Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios (1, 2)
(Dollars in millions)
	Fourth Quarter 2017					Third Quarter 2017					Second Quarter 2017					First Quarter 2017					Fourth Quarter 2016
	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount		Percent
Net Charge-offs
Residential mortgage (3)	$	(16	)	(0.03	)%	$	(82	)	(0.16	)%	$	(19	)	(0.04	)%	$	17		0.04	%	$	2	—	%
Home equity	16			0.11		83			0.54		50			0.32		64			0.40		70		0.41
U.S. credit card	655			2.78		612			2.65		640			2.87		606			2.74		566		2.52
Non-U.S. credit card (4)	—			—		—			—		31			1.89		44			1.91		41		1.80
Direct/Indirect consumer	64			0.27		67			0.28		32			0.14		48			0.21		43		0.19
Other consumer	50			7.91		51			7.23		17			2.64		48			7.61		53		8.57
Total consumer	769			0.68		731			0.65		751			0.67		827			0.74		775		0.68
U.S. commercial (5)	56			0.08		80			0.11		52			0.08		44			0.06		29		0.04
Non-U.S. commercial	346			1.43		33			0.14		46			0.21		15			0.07		23		0.10
Commercial real estate	6			0.04		2			0.02		5			0.03		(4		)	(0.03	)	—		—
Commercial lease financing	5			0.09		(1		)	(0.02	)	1			0.01		—			—		2		0.05
	413			0.36		114			0.10		104			0.09		55			0.05		54		0.05
U.S. small business commercial	55			1.58		55			1.61		53			1.60		52			1.61		51		1.55
Total commercial	468			0.39		169			0.14		157			0.14		107			0.10		105		0.09
Total net charge-offs	$	1,237		0.53		$	900		0.39		$	908		0.40		$	934		0.42		$	880	0.39
By Business Segment and All Other
Consumer Banking	$	839		1.21	%	$	800		1.18	%	$	791		1.21	%	$	772		1.21	%	$	732	1.15	%
Global Wealth & Investment Management	4			0.01		11			0.03		8			0.02		21			0.06		17		0.05
Global Banking	264			0.30		106			0.12		98			0.11		51			0.06		50		0.06
Global Markets	146			0.83		23			0.13		1			0.01		—			—		—		—
All Other (4)	(16		)	(0.09	)	(40		)	(0.21	)	10			0.05		90			0.39		81		0.33
Total net charge-offs	$	1,237		0.53		$	900		0.39		$	908		0.40		$	934		0.42		$	880	0.39

⁽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 0.54, 0.40, 0.41 and 0.42 for the fourth, third, second and first quarters of 2017, respectively, and 0.39 for the fourth quarter of 2016.

⁽²⁾  Excludes write-offs of purchased credit-impaired loans of $46 million, $73 million, $55 million and $33 million for the fourth, third, second and first quarters of 2017, respectively, and $70 million for the fourth quarter of 2016. 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 0.55, 0.42, 0.43 and 0.43 for the fourth, third, second and first quarters of 2017, respectively, and 0.42 for the fourth quarter of 2016.

⁽³⁾  Includes loan sales recoveries of $3 million, $88 million, $3 million and $11 million for the fourth, third, second and first quarters of 2017, respectively, and $9 million for the fourth quarter of 2016.

⁽⁴⁾  Represents net charge-offs of non-U.S. credit card loans recorded in All Other, which were included in assets of business held for sale on the Consolidated Balance Sheet at March 31, 2017 and December 31, 2016. During the second quarter of 2017, the Corporation sold its non-U.S. consumer credit card business.

⁽⁵⁾  Excludes U.S. small business commercial loans.

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

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

Bank of America Corporation and Subsidiaries
Annual Net Charge-offs and Net Charge-off Ratios (1, 2)
(Dollars in millions)
	Year Ended December 31
	2017					2016
	Amount			Percent		Amount			Percent
Net Charge-offs
Residential mortgage (3)	$	(100	)	(0.05	)%	$	131		0.07	%
Home equity	213			0.34		405			0.57
U.S. credit card	2,513			2.76		2,269			2.58
Non-U.S. credit card (4)	75			1.91		175			1.83
Direct/Indirect consumer	211			0.23		134			0.15
Other consumer	166			6.35		205			8.95
Total consumer	3,078			0.68		3,319			0.74
U.S. commercial (5)	232			0.08		184			0.07
Non-U.S. commercial	440			0.48		120			0.13
Commercial real estate	9			0.02		(31		)	(0.05	)
Commercial lease financing	5			0.02		21			0.10
	686			0.15		294			0.07
U.S. small business commercial	215			1.60		208			1.60
Total commercial	901			0.20		502			0.11
Total net charge-offs	$	3,979		0.44		$	3,821		0.43
By Business Segment and All Other
Consumer Banking	$	3,202		1.20	%	$	2,896		1.18	%
Global Wealth & Investment Management	44			0.03		48			0.03
Global Banking	519			0.15		291			0.09
Global Markets	170			0.25		9			0.01
All Other (4)	44			0.05		577			0.54
Total net charge-offs	$	3,979		0.44		$	3,821		0.43

⁽¹⁾  Net charge-off ratios are calculated as 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 net charge-offs as a percentage of total average loans and leases outstanding were 0.44 for both of the years ended December 31, 2017 and 2016.

⁽²⁾  Excludes write-offs of purchased credit-impaired loans of $207 million and $340 million for the years ended December 31, 2017 and 2016. Including the write-offs of purchased credit-impaired loans, total net charge-offs and purchased credit-impaired write-offs as a percentage of total average loans and leases outstanding were 0.46 and 0.47 for the years ended December 31, 2017 and 2016.

⁽³⁾  Includes loan sales charge-offs (recoveries) of $(105) million and $26 million for the years ended December 31, 2017 and 2016.

⁽⁴⁾  Represents net charge-offs of non-U.S. credit card loans recorded in All Other, which were included in assets of business held for sale on the Consolidated Balance Sheet at December 31, 2016. During the second quarter of 2017, the Corporation sold its non-U.S. consumer credit card business.

⁽⁵⁾  Excludes U.S. small business commercial loans.

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

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

Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	December 31, 2017						September 30, 2017						December 31, 2016
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	$	701	6.74	%	0.34	%	$	813	7.60	%	0.41	%	$	1,012		8.82	%	0.53	%
Home equity	1,019		9.80		1.76		1,219		11.40		2.04		1,738			15.14		2.62
U.S. credit card	3,368		32.41		3.50		3,263		30.52		3.52		2,934			25.56		3.18
Non-U.S.credit card (3)	—		—		—		—		—		—		243			2.12		2.64
Direct/Indirect consumer	262		2.52		0.28		255		2.38		0.27		244			2.13		0.26
Other consumer	33		0.32		1.22		32		0.30		1.32		51			0.44		2.01
Total consumer	5,383		51.79		1.18		5,582		52.20		1.25		6,222			54.21		1.36
U.S. commercial (4)	3,113		29.95		1.04		3,199		29.92		1.08		3,326			28.97		1.17
Non-U.S.commercial	803		7.73		0.82		812		7.59		0.85		874			7.61		0.98
Commercial real estate	935		9.00		1.60		956		8.94		1.60		920			8.01		1.60
Commercial lease financing	159		1.53		0.72		144		1.35		0.67		138			1.20		0.62
Total commercial (5)	5,010		48.21		1.05		5,111		47.80		1.08		5,258			45.79		1.16
Total allowance for loan and lease losses	10,393		100.00	%	1.12		10,693		100.00	%	1.16		11,480			100.00	%	1.26
Less: Allowance included in assets of business held for sale (6)	—						—						(243		)
Allowance for loan and lease losses	10,393						10,693						11,237
Reserve for unfunded lending commitments	777						762						762
Allowance for credit losses	$	11,170					$	11,455					$	11,999
Asset Quality Indicators(6)
Allowance for loan and lease losses/Total loans and leases (2)			1.12	%					1.16	%						1.26	%
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, 7)			1.10						1.14							1.24
Allowance for loan and lease losses/Total nonperforming loans and leases (8)			161						163							149
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total nonperforming loans and leases (7, 8)			156						158							144
Ratio of the allowance for loan and lease losses/Annualized net charge-offs (9)			2.12						3.00							3.28
Ratio of the allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Annualized net charge-offs (7, 9)			2.06						2.91							3.16
Ratio of the allowance for loan and lease losses/Annualized net charge-offs and purchased credit-impaired write-offs			2.04						2.77							3.04

⁽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 $567 million, $615 million and $710 million and home equity loans of $361 million, $363 million and $341 million at December 31, 2017, September 30, 2017 and December 31, 2016, respectively. Commercial loans accounted for under the fair value option included U.S. commercial loans of $2.6 billion, $2.8 billion and $2.9 billion and non-U.S. commercial loans of $2.2 billion, $2.5 billion and $3.1 billion at December 31, 2017, September 30, 2017 and December 31, 2016, respectively.

⁽²⁾  Total loans and leases do not include loans accounted for under the fair value option of $5.7 billion, $6.3 billion and $7.1 billion at December 31, 2017, September 30, 2017 and December 31, 2016, respectively.

⁽³⁾  During the second quarter of 2017, the Corporation sold its non-U.S. consumer credit card business.

⁽⁴⁾  Includes allowance for loan and lease losses for U.S. small business commercial loans of $439 million, $422 million and $416 million at December 31, 2017, September 30, 2017 and December 31, 2016, respectively.

⁽⁵⁾  Includes allowance for loan and lease losses for impaired commercial loans of $190 million, $232 million and $273 million at December 31, 2017, September 30, 2017 and December 31, 2016, respectively.

⁽⁶⁾  Indicators at December 31, 2016 include $243 million of non-U.S. credit card allowance and $9.2 billion of non-U.S. credit card loans, which were included in assets of business held for sale on the Consolidated Balance Sheet at December 31, 2016. See footnote 3 for more information.

⁽⁷⁾  Excludes valuation allowance on purchased credit-impaired loans of $289 million, $315 million and $419 million at December 31, 2017, September 30, 2017 and December 31, 2016, respectively.

⁽⁸⁾  Allowance for loan and lease losses includes $4.0 billion, $3.9 billion and $4.0 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 December 31, 2017, September 30, 2017 and December 31, 2016, respectively. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 99 percent, 104 percent and 98 percent at December 31, 2017, September 30, 2017 and December 31, 2016, respectively.

⁽⁹⁾  Net charge-offs exclude $46 million, $73 million and $70 million of write-offs in the purchased credit-impaired loan portfolio for the three months ended December 31, 2017, September 30, 2017 and December 31, 2016, respectively.

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

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

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. Total revenue, net of interest expense, on a fully taxable-equivalent basis includes net interest income on a fully taxable-equivalent basis and noninterest income. The Corporation believes that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices. The Corporation presents 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. 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.

See the tables below and on page 42 for reconciliations of these non-GAAP financial measures to financial measures defined by GAAP for the years ended December 31, 2017 and 2016 and the three months ended December 31, 2017, September 30, 2017, June 30, 2017, March 31, 2017 and December 31, 2016. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in understanding its results of operations and trends. Other companies may define or calculate supplemental financial data differently.

	Year Ended December 31						Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017			Fourth Quarter 2016
	2017			2016
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income	$	44,667		$	41,096		$	11,462		$	11,161		$	10,986		$	11,058		$	10,292
Fully taxable-equivalent adjustment	925			900			251			240			237			197			234
Net interest income on a fully taxable-equivalent basis	$	45,592		$	41,996		$	11,713		$	11,401		$	11,223		$	11,255		$	10,526
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	$	87,352		$	83,701		$	20,436		$	21,839		$	22,829		$	22,248		$	19,990
Fully taxable-equivalent adjustment	925			900			251			240			237			197			234
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	88,277		$	84,601		$	20,687		$	22,079		$	23,066		$	22,445		$	20,224
Reconciliation of income tax expense to income tax expense on a fully taxable-equivalent basis
Income tax expense	$	10,981		$	7,199		$	3,796		$	2,187		$	3,015		$	1,983		$	1,268
Fully taxable-equivalent adjustment	925			900			251			240			237			197			234
Income tax expense on a fully taxable-equivalent basis	$	11,906		$	8,099		$	4,047		$	2,427		$	3,252		$	2,180		$	1,502
Reconciliation of average common shareholders' equity to average tangible common shareholders' equity
Common shareholders' equity	$	247,101		$	241,187		$	250,838		$	249,214		$	245,756		$	242,480		$	244,519
Goodwill	(69,286		)	(69,750		)	(68,954		)	(68,969		)	(69,489		)	(69,744		)	(69,745		)
Intangible assets (excluding mortgage servicing rights)	(2,652		)	(3,382		)	(2,399		)	(2,549		)	(2,743		)	(2,923		)	(3,091		)
Related deferred tax liabilities	1,463			1,644			1,344			1,465			1,506			1,539			1,580
Tangible common shareholders' equity	$	176,626		$	169,699		$	180,829		$	179,161		$	175,030		$	171,352		$	173,263
Reconciliation of average shareholders' equity to average tangible shareholders' equity
Shareholders' equity	$	271,289		$	265,843		$	273,162		$	273,238		$	270,977		$	267,700		$	269,739
Goodwill	(69,286		)	(69,750		)	(68,954		)	(68,969		)	(69,489		)	(69,744		)	(69,745		)
Intangible assets (excluding mortgage servicing rights)	(2,652		)	(3,382		)	(2,399		)	(2,549		)	(2,743		)	(2,923		)	(3,091		)
Related deferred tax liabilities	1,463			1,644			1,344			1,465			1,506			1,539			1,580
Tangible shareholders' equity	$	200,814		$	194,355		$	203,153		$	203,185		$	200,251		$	196,572		$	198,483

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

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

Exhibit A: Non-GAAP Reconciliations (continued)
Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2017			Third Quarter 2017			Second Quarter 2017			First Quarter 2017			Fourth Quarter 2016
	2017			2016
Reconciliation of period-end common shareholders' equity to period-end tangible common shareholders' equity
Common shareholders' equity	$	244,823		$	240,975		$	244,823		$	249,646		$	245,440		$	242,770		$	240,975
Goodwill	(68,951		)	(69,744		)	(68,951		)	(68,968		)	(68,969		)	(69,744		)	(69,744		)
Intangible assets (excluding mortgage servicing rights)	(2,312		)	(2,989		)	(2,312		)	(2,459		)	(2,610		)	(2,827		)	(2,989		)
Related deferred tax liabilities	943			1,545			943			1,435			1,471			1,513			1,545
Tangible common shareholders' equity	$	174,503		$	169,787		$	174,503		$	179,654		$	175,332		$	171,712		$	169,787
Reconciliation of period-end shareholders' equity to period-end tangible shareholders' equity
Shareholders' equity	$	267,146		$	266,195		$	267,146		$	271,969		$	270,660		$	267,990		$	266,195
Goodwill	(68,951		)	(69,744		)	(68,951		)	(68,968		)	(68,969		)	(69,744		)	(69,744		)
Intangible assets (excluding mortgage servicing rights)	(2,312		)	(2,989		)	(2,312		)	(2,459		)	(2,610		)	(2,827		)	(2,989		)
Related deferred tax liabilities	943			1,545			943			1,435			1,471			1,513			1,545
Tangible shareholders' equity	$	196,826		$	195,007		$	196,826		$	201,977		$	200,552		$	196,932		$	195,007
Reconciliation of period-end assets to period-end tangible assets
Assets	$	2,281,234		$	2,188,067		$	2,281,234		$	2,284,174		$	2,254,714		$	2,247,794		$	2,188,067
Goodwill	(68,951		)	(69,744		)	(68,951		)	(68,968		)	(68,969		)	(69,744		)	(69,744		)
Intangible assets (excluding mortgage servicing rights)	(2,312		)	(2,989		)	(2,312		)	(2,459		)	(2,610		)	(2,827		)	(2,989		)
Related deferred tax liabilities	943			1,545			943			1,435			1,471			1,513			1,545
Tangible assets	$	2,210,914		$	2,116,879		$	2,210,914		$	2,214,182		$	2,184,606		$	2,176,736		$	2,116,879

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

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