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BAC

BANK OF AMERICA CORP /DE/eval run
10-K for period ending 2025-12-31gpt-6-luna@none · prompt v4$0.00117.4sfiling on sec.gov ↗

figures

fieldvaluestatement rowprintedSEC
Total revenue$113.1BR5 Total revenue, net of interest expense113,097 millions$113.1B ✓
Operating income-not printed on this statement--
Net income attributable to the company$30.5BR10 Net income30,509 millions$30.5B ✓
Diluted EPS$3.81R26 Diluted earnings3.81$3.81 ✓
Cash and cash equivalents$231.8BR4 Cash and cash equivalents231,845 millions$231.8B ✓
Total assets$3.41TR11 Total assets3,411,738 millions$3.41T ✓
Total liabilities$3.11TR19 Total liabilities3,108,495 millions$3.11T ✓
Total shareholders' equity attributable to the company$303.2BR20 Shareholders’ equity303,243 millions$303.2B ✓
Net cash from operating activities$12.6BR17 Net cash provided by (used in) operating activities12,613 millions$12.6B ✓
Net cash from investing activities-$145.2BR34 Net cash used in investing activities(145,157) millions-$145.2B ✓
Net cash from financing activities$69.9BR49 Net cash provided by financing activities69,948 millions$69.9B ✓

checks

  • assets = liabilities + equity · total assets equals total liabilities and equity
  • equity excludes minority interests · not applicable: no noncontrolling interest line printed
  • net income is before preferred dividends · net income is not the after-preferred-dividends line
  • diluted EPS is for total net income · diluted EPS is for total net income
  • net income excludes minority interests · not applicable: no noncontrolling interest line printed
  • cash flows tie to the change in cash · operating + investing + financing (+ FX) equals the net change in cash

management's claims

Found 9 claims, none about a company-wide figure the statements can confirm.

trace

  1. 0locator (code)0.54s
    {
  "tables": 358,
  "exhibits": [],
  "documents": 1
}
    {
  "income": {
    "rows": 53,
    "scale": 1000000,
    "score": 40,
    "heading": "",
    "tableIndex": 45,
    "runnerUpScore": 36.75
  },
  "balance": {
    "rows": 22,
    "scale": 1000000,
    "score": 49.5,
    "heading": "Balance Sheet Overview",
    "tableIndex": 41,
    "runnerUpScore": 40
  },
  "cashflow": {
    "rows": 56,
    "scale": 1000000,
    "score": 40,
    "heading": "Bank of America Corporation and Subsidiaries",
    "tableIndex": 167,
    "runnerUpScore": 35.25
  }
}
  2. 1cash flow agent1.67s · 1802 tokens · $0.0002
    {
  "rows": 56,
  "retryHint": null,
  "tableIndex": 167
}
    {
  "figures": [
    {
      "note": "This is the operating activities section total, including changes in working capital.",
      "field": "operatingCashFlow",
      "scale": 1000000,
      "value": 12613000000,
      "printed": "12,613",
      "rowIndex": 17,
      "rowLabel": "Net cash provided by (used in) operating activities",
      "priorValue": -8805000000,
      "agentPrinted": "12,613",
      "failedChecks": [],
      "priorPrinted": "(8,805)",
      "groundingMismatch": false
    },
    {
      "note": "This is the investing activities section total.",
      "field": "investingCashFlow",
      "scale": 1000000,
      "value": -145157000000,
      "printed": "(145,157)",
      "rowIndex": 34,
      "rowLabel": "Net cash used in investing activities",
      "priorValue": -90693000000,
      "agentPrinted": "(145,157)",
      "failedChecks": [],
      "priorPrinted": "(90,693)",
      "groundingMismatch": false
    },
    {
      "note": "This is the financing activities section total.",
      "field": "financingCashFlow",
      "scale": 1000000,
      "value": 69948000000,
      "printed": "69,948",
      "rowIndex": 49,
      "rowLabel": "Net cash provided by financing activities",
      "priorValue": 60369000000,
      "agentPrinted": "69,948",
      "failedChecks": [],
      "priorPrinted": "60,369",
      "groundingMismatch": false
    }
  ],
  "statement": "cashflow",
  "tableIndex": 167,
  "priorColumn": 1,
  "currentColumn": 0
}
  3. 2balance sheet agent1.78s · 1280 tokens · $0.0002
    {
  "rows": 22,
  "retryHint": null,
  "tableIndex": 41
}
    {
  "figures": [
    {
      "note": "This is the cash and cash equivalents line for the current period.",
      "field": "cash",
      "scale": 1000000,
      "value": 231845000000,
      "printed": "231,845",
      "rowIndex": 4,
      "rowLabel": "Cash and cash equivalents",
      "priorValue": 290114000000,
      "agentPrinted": "231,845",
      "failedChecks": [],
      "priorPrinted": "290,114",
      "groundingMismatch": false
    },
    {
      "note": "This is the printed total assets line.",
      "field": "totalAssets",
      "scale": 1000000,
      "value": 3411738000000,
      "printed": "3,411,738",
      "rowIndex": 11,
      "rowLabel": "Total assets",
      "priorValue": 3261299000000,
      "agentPrinted": "3,411,738",
      "failedChecks": [],
      "priorPrinted": "3,261,299",
      "groundingMismatch": false
    },
    {
      "note": "This is the printed total liabilities line, not liabilities and equity.",
      "field": "totalLiabilities",
      "scale": 1000000,
      "value": 3108495000000,
      "printed": "3,108,495",
      "rowIndex": 19,
      "rowLabel": "Total liabilities",
      "priorValue": 2967336000000,
      "agentPrinted": "3,108,495",
      "failedChecks": [],
      "priorPrinted": "2,967,336",
      "groundingMismatch": false
    },
    {
      "note": "This is the shareholders’ equity total; no noncontrolling-interest distinction is shown.",
      "field": "totalEquity",
      "scale": 1000000,
      "value": 303243000000,
      "printed": "303,243",
      "rowIndex": 20,
      "rowLabel": "Shareholders’ equity",
      "priorValue": 293963000000,
      "agentPrinted": "303,243",
      "failedChecks": [],
      "priorPrinted": "293,963",
      "groundingMismatch": false
    }
  ],
  "statement": "balance",
  "tableIndex": 41,
  "priorColumn": 1,
  "currentColumn": 0
}
  4. 3income statement agent1.83s · 2223 tokens · $0.0003
    {
  "rows": 53,
  "retryHint": null,
  "tableIndex": 45
}
    {
  "figures": [
    {
      "note": "This is the company-wide total revenue net of interest expense.",
      "field": "revenue",
      "scale": 1000000,
      "value": 113097000000,
      "printed": "113,097",
      "rowIndex": 5,
      "rowLabel": "Total revenue, net of interest expense",
      "priorValue": 105856000000,
      "agentPrinted": "113,097",
      "failedChecks": [],
      "priorPrinted": "105,856",
      "groundingMismatch": false
    },
    {
      "note": "The statement prints no operating income or equivalent line.",
      "field": "operatingIncome",
      "scale": 1000000,
      "value": null,
      "printed": null,
      "rowIndex": null,
      "rowLabel": null,
      "priorValue": null,
      "agentPrinted": null,
      "failedChecks": [],
      "priorPrinted": null,
      "groundingMismatch": false
    },
    {
      "note": "This is the only net income line; the common-shareholder amount is after preferred dividends.",
      "field": "netIncome",
      "scale": 1000000,
      "value": 30509000000,
      "printed": "30,509",
      "rowIndex": 10,
      "rowLabel": "Net income",
      "priorValue": 26973000000,
      "agentPrinted": "30,509",
      "failedChecks": [],
      "priorPrinted": "26,973",
      "groundingMismatch": false
    },
    {
      "note": "“Diluted earnings” is the diluted per-share figure printed for the year.",
      "field": "epsDiluted",
      "scale": 1,
      "value": 3.81,
      "printed": "3.81",
      "rowIndex": 26,
      "rowLabel": "Diluted earnings",
      "priorValue": 3.19,
      "agentPrinted": "3.81",
      "failedChecks": [],
      "priorPrinted": "3.19",
      "groundingMismatch": false
    }
  ],
  "statement": "income",
  "tableIndex": 45,
  "priorColumn": 1,
  "currentColumn": 0
}
  5. 4reconciler (code)0.00s
    null
    [
  {
    "name": "balance_identity",
    "detail": "total assets equals total liabilities and equity",
    "fields": [
      "totalAssets"
    ],
    "passed": true,
    "skipped": false,
    "statement": "balance"
  },
  {
    "name": "totalEquity_attribution",
    "detail": "no noncontrolling interest line printed",
    "fields": [
      "totalEquity"
    ],
    "passed": true,
    "skipped": true,
    "statement": "balance"
  },
  {
    "name": "netIncome_before_preferred",
    "detail": "net income is not the after-preferred-dividends line",
    "fields": [
      "netIncome"
    ],
    "passed": true,
    "skipped": false,
    "statement": "income"
  },
  {
    "name": "epsDiluted_total",
    "detail": "diluted EPS is for total net income",
    "fields": [
      "epsDiluted"
    ],
    "passed": true,
    "skipped": false,
    "statement": "income"
  },
  {
    "name": "netIncome_attribution",
    "detail": "no noncontrolling interest line printed",
    "fields": [
      "netIncome"
    ],
    "passed": true,
    "skipped": true,
    "statement": "income"
  },
  {
    "name": "cash_flow_tie",
    "detail": "operating + investing + financing (+ FX) equals the net change in cash",
    "fields": [
      "operatingCashFlow",
      "investingCashFlow",
      "financingCashFlow"
    ],
    "passed": true,
    "skipped": false,
    "statement": "cashflow"
  }
]
  6. 5MD&A claims agent4.64s · 1997 tokens · $0.0005
    null
    [
  {
    "kind": "current_value",
    "field": "totalAssets",
    "quote": "At December 31, 2025, total assets were approximately $3.4 trillion, up $150.4 billion from December 31, 2024.",
    "scope": "consolidated",
    "actual": null,
    "reason": "Total assets: the value is far below the company-wide figure, so it's about part of the business",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "$3.4 trillion",
    "tolerance": null,
    "quoteVerified": true
  },
  {
    "kind": "amount_change",
    "field": "totalAssets",
    "quote": "At December 31, 2025, total assets were approximately $3.4 trillion, up $150.4 billion from December 31, 2024.",
    "scope": "consolidated",
    "actual": null,
    "reason": "Total assets: the value is far below the company-wide figure, so it's about part of the business",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "$150.4 billion",
    "tolerance": null,
    "quoteVerified": true
  },
  {
    "kind": "current_value",
    "field": "netIncome",
    "quote": "Net income was $30.5 billion, or $3.81 per diluted share, in 2025 compared to $27.0 billion, or $3.19 per diluted share, in 2024.",
    "scope": "consolidated",
    "actual": null,
    "reason": "Net income attributable to the company: the sentence is about a region, segment or adjusted measure",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "$30.5 billion",
    "tolerance": null,
    "quoteVerified": true
  },
  {
    "kind": "current_value",
    "field": "epsDiluted",
    "quote": "Net income was $30.5 billion, or $3.81 per diluted share, in 2025 compared to $27.0 billion, or $3.19 per diluted share, in 2024.",
    "scope": "consolidated",
    "actual": null,
    "reason": "Diluted EPS: the sentence is about a region, segment or adjusted measure",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "$3.81",
    "tolerance": null,
    "quoteVerified": true
  },
  {
    "kind": "direction",
    "field": "netIncome",
    "quote": "The increase in net income was due to higher net interest income and noninterest income, and lower provision for credit losses, partially offset by higher noninterest expense.",
    "scope": "consolidated",
    "actual": null,
    "reason": "Net income attributable to the company: the sentence is about a region, segment or adjusted measure",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "increased",
    "tolerance": null,
    "quoteVerified": true
  },
  {
    "kind": "amount_change",
    "field": "netIncome",
    "quote": "Net income for Consumer Bankin g increased $1.5 billion to $12.2 billion primarily due to higher revenue and lower provision for credit losses, partially offset by higher noninterest expense.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Net income attributable to the company: about a segment, region or non-GAAP measure, which the statements can't confirm",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "$1.5 billion",
    "tolerance": null,
    "quoteVerified": true
  },
  {
    "kind": "current_value",
    "field": "netIncome",
    "quote": "Net income for Consumer Bankin g increased $1.5 billion to $12.2 billion primarily due to higher revenue and lower provision for credit losses, partially offset by higher noninterest expense.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Net income attributable to the company: about a segment, region or non-GAAP measure, which the statements can't confirm",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "$12.2 billion",
    "tolerance": null,
    "quoteVerified": true
  },
  {
    "kind": "amount_change",
    "field": "netIncome",
    "quote": "Net income for GWIM increased $407 million to $4.7 billion primarily due to higher revenue, partially offset by higher noninterest expense.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Net income attributable to the company: about a segment, region or non-GAAP measure, which the statements can't confirm",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "$407 million",
    "tolerance": null,
    "quoteVerified": true
  },
  {
    "kind": "current_value",
    "field": "netIncome",
    "quote": "Net income for GWIM increased $407 million to $4.7 billion primarily due to higher revenue, partially offset by higher noninterest expense.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Net income attributable to the company: about a segment, region or non-GAAP measure, which the statements can't confirm",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "$4.7 billion",
    "tolerance": null,
    "quoteVerified": true
  }
]

Income statement

table #45 · current period is figure column 1
0Table 6Selected Annual Financial Data
1(In millions, except per share information)202520242023
2Income statement
3Net interest income60,09656,06056,931
4Noninterest income53,00149,79645,838
5Total revenue, net of interest expense← Total revenue113,097105,856102,769
6Provision for credit losses5,6755,8214,394
7Noninterest expense69,72766,81265,845
8Income before income taxes37,69533,22332,530
9Income tax expense7,1866,2506,225
10Net income← Net income attributable to the company30,50926,97326,305
11Net income applicable to common shareholders29,05525,34424,656
12Average common shares issued and outstanding7,521.97,855.58,028.6
13Average diluted common shares issued and outstanding7,680.97,935.88,080.5
14Performance ratios
15Return on average assets (1)0.89%0.82%0.83%
16Return on average common shareholders’ equity (1)10.599.539.73
17Return on average tangible common shareholders’ equity (2)14.2212.9413.45
18Return on average shareholders’ equity (1)10.229.229.33
19Return on average tangible shareholders’ equity (2)13.3612.1312.43
20Total ending equity to total ending assets8.899.019.12
21Common equity ratio (1)8.138.308.23
22Total average equity to total average assets8.758.918.94
23Dividend payout (1)27.8230.8629.90
24Per common share data
25Earnings3.863.233.07
26Diluted earnings← Diluted EPS3.813.193.05
27Dividends paid1.081.000.92
28Book value (1)38.4435.5833.16
29Tangible book value (2)28.7326.3724.28
30Market capitalization396,686334,497265,840
31Average balance sheet
32Total loans and leases1,136,7871,060,0811,046,256
33Total assets3,410,4123,282,0453,152,461
34Total deposits1,984,1821,924,1061,887,541
35Long-term debt245,775246,081248,853
36Common shareholders’ equity274,435265,980253,464
37Total shareholders’ equity298,474292,467281,861
38Asset quality
39Allowance for credit losses (3)14,38014,33614,551
40Nonperforming loans, leases and foreclosed properties (4)5,9056,1205,630
41Allowance for loan and lease losses as a percentage of total loans and leases outstanding (4)1.12%1.21%1.27%
42Allowance for loan and lease losses as a percentage of total nonperforming loans and leases (4)228222243
43Net charge-offs5,6316,0313,799
44Net charge-offs as a percentage of average loans and leases outstanding (4)0.50%0.57%0.36%
45Capital ratios at year end (5)
46Common equity tier 1 capital11.4%11.9%11.8%
47Tier 1 capital12.813.213.5
48Total capital14.715.115.2
49Tier 1 leverage6.86.97.1
50Supplementary leverage ratio5.75.96.1
51Tangible equity (2)7.07.07.1
52Tangible common equity (2)6.26.36.2

Balance sheet

table #41 · current period is figure column 1
0Table 5Selected Balance Sheet Data
1December 31
2(Dollars in millions)20252024Change% Change
3Assets
4Cash and cash equivalents← Cash and cash equivalents231,845290,114(58,269)(20)%
5Federal funds sold and securities borrowed or purchased under agreements to resell316,578274,70941,86915
6Trading account assets366,954314,46052,49417
7Debt securities925,635917,2848,3511
8Loans and leases1,185,7001,095,83589,8658
9Allowance for loan and lease losses(13,203)(13,240)37-
10All other assets398,229382,13716,0924
11Total assets← Total assets3,411,7383,261,299150,4395
12Liabilities
13Deposits2,018,7291,965,46753,2623
14Federal funds purchased and securities loaned or sold under agreements to repurchase344,716331,75812,9584
15Trading account liabilities105,99692,54313,45315
16Short-term borrowings48,08843,3914,69711
17Long-term debt317,816283,27934,53712
18All other liabilities273,150250,89822,2529
19Total liabilities← Total liabilities3,108,4952,967,336141,1595
20Shareholders’ equity← Total shareholders' equity attributable to the company303,243293,9639,2803
21Total liabilities and shareholders’ equity3,411,7383,261,299150,4395

Cash flow statement

table #167 · current period is figure column 1
0Consolidated Statement of Cash Flows
1(Dollars in millions)202520242023
2Operating activities
3Net income30,50926,97326,305
4Adjustments to reconcile net income to net cash provided by operating activities:
5Provision for credit losses5,6755,8214,394
6Losses on sales of debt securities2029405
7Depreciation and amortization2,3142,1892,057
8Net accretion of discount/premium on debt securities(859)(330)(397)
9Deferred income taxes295(1,127)(1,012)
10Amortization of stock-based compensation4,0013,4332,942
11Net change in:
12Trading and derivative assets/liabilities(35,027)(45,504)44,391
13Loans held-for-sale4,215(4,321)641
14Other assets(19,584)(4,515)(24,304)
15Accrued expenses and other liabilities17,3151,025(18,148)
16Other operating activities, net3,7397,5227,708
17Net cash provided by (used in) operating activities← Net cash from operating activities12,613(8,805)44,982
18Investing activities
19Net change in:
20Time deposits placed and other short-term investments(1,102)1,974(1,087)
21Federal funds sold and securities borrowed or purchased under agreements to resell(45,856)8,415(13,050)
22Debt securities carried at fair value:
23Proceeds from sales129,77969,925101,165
24Proceeds from paydowns and maturities100,313237,939148,699
25Purchases(263,483)(390,911)(290,959)
26Held-to-maturity debt securities:
27Proceeds from paydowns and maturities34,79434,59136,955
28Purchases--(98)
29Loans and leases:
30Proceeds from sales of loans originally classified as held for investment and instruments from related securitization activities9,5929,56511,081
31Purchases(14,315)(5,470)(5,351)
32Other changes in loans and leases, net(90,548)(52,576)(17,484)
33Other investing activities, net(4,331)(4,145)(5,258)
34Net cash used in investing activities← Net cash from investing activities(145,157)(90,693)(35,387)
35Financing activities
36Net change in:
37Deposits53,26241,640(6,514)
38Federal funds purchased and securities loaned or sold under agreements to repurchase16,94547,87188,252
39Short-term borrowings4,69012,5745,162
40Long-term debt:
41Proceeds from issuance99,86756,68365,396
42Retirement(76,031)(70,411)(44,571)
43Preferred stock:
44Proceeds from issuance5,493--
45Redemption(2,669)(5,254)-
46Common stock repurchased(21,433)(13,104)(4,576)
47Cash dividends paid(9,563)(9,503)(9,087)
48Other financing activities, net(613)(127)(717)
49Net cash provided by financing activities← Net cash from financing activities69,94860,36993,345
50Effect of exchange rate changes on cash and cash equivalents4,327(3,830)(70)
51Net increase (decrease) in cash and cash equivalents(58,269)(42,959)102,870
52Cash and cash equivalents at January 1290,114333,073230,203
53Cash and cash equivalents at December 31231,845290,114333,073
54Supplemental cash flow disclosures
55Interest paid79,06589,68769,604