Company FundamentalsCompany Fundamentals\Company Profile

A Wright Investors' Service Research Report:

Bank of America Corporation

440 Wheelers Farms Road
Milford, CT 06461 U.S.A.

COMPANY PROFILE
Figures in U.S. Dollars

Wright Quality Rating:ABB 4 Key Data

Bank of America Corporation. The Group's principal activity is to provide banking and Ticker:
certain non-banking financial services and products both domestically and BAC
internationally. It operates in three segments: Global Consumer and Small Business
Banking (GCSBB), Global Corporate and Investment Banking (GCIB) and Global Wealth 2008 Sales:
and Investment management (GWIM). These segments provide services include deposit
112,991,000,000
products, lending loans, investment banking, capital markets, and leasing and financial
advisory services. It operates in 50 states and the District of Columbia through its
network of 6,100 banking centers, 18,700 ATMs located in 40 countries. The Major Industry:
operations are carried out in the United States, Asia, Europe, Middle East, Africa, Financial
Mexico and Latin America. 01-Jul-2008 it acquired Countrywide Financial Corporation
and LaSalle Bank and on 01-Jan-2009, acquired Merrill Lynch & Co., Inc. Sub Industry:
Stock Chart Officers Commercial Banks
Chairman, President & Chief
Executive Country:
Kenneth D. Lewis United States

Chief Financial Officer Currency:

Joe L. Price
U.S. Dollars

Secretary
Fiscal Year Ends:
James W. Kiser
December

Employees
243,000

Exchanges:
NYSE BSE MSE PBW PCS

Share Type:
Common

Stock Price (5/8/2009): 14.17

Market Capitalization:
Recent stock performance
90,701,461,429
1 Week 62.9%
4 Weeks 48.4%
13 Weeks 131.2% Total Shares Outstanding:
52 Weeks -61.3% 6,400,949,995

Earnings / Dividends (as of 3/31/2009)

Closely Held Shares:
Earnings Dividends
49,477,929
Most Recent Qtr 0.44 0.01
Last 12 Months 0.77 0.98
Ratio Analysis
Price / Earnings Ratio 18.40 Dividend Yield 6.92%
Price / Sales Ratio 0.80 Payout Ratio 127.27%
 Price / Book Ratio 0.51 % Held by Insiders 0.77%

Address
100 North Tryon Street Phone
Charlotte, NORTH CAROLINA 28255 +1 704 386-5681
UNITED STATES Home Page
http://www.bankofamerica.com

Copyright ©2000-2009 Distributed by Wright Investors' Service, Inc. All Rights Reserved. Except for quotations by established news media, no pages on this site may be reproduced, stored in a
retrieval system, or transmitted for commercial purposes, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without prior written permission.
Information is believed reliable, but accuracy, completeness and opinions are not guaranteed.
Company Fundamentals\Comparative Business Analysis

A Wright Investors' Service Research Report:

Bank of America Corporation

440 Wheelers Farms Road
Provided By CorporateInformation.com Milford, CT 06461 U.S.A.

Wright Comparative Business Analysis Report

Report Date: 5/8/2009

Company Description

Bank of America Corporation. The Group's principal activity is to provide banking and certain non-banking financial
services and products both domestically and internationally. It operates in three segments: Global Consumer and
Small Business Banking (GCSBB), Global Corporate and Investment Banking (GCIB) and Global Wealth and Investment
management (GWIM). These segments provide services include deposit products, lending loans, investment banking,
capital markets, and leasing and financial advisory services. It operates in 50 states and the District of Columbia
through its network of 6,100 banking centers, 18,700 ATMs located in 40 countries. The operations are carried out
in the United States, Asia, Europe, Middle East, Africa, Mexico and Latin America. 01-Jul-2008 it acquired
Countrywide Financial Corporation and LaSalle Bank and on 01-Jan-2009, acquired Merrill Lynch & Co., Inc.

Competitor Analysis

Bank of America Corporation operates in the National commercial banks sector. This analysis compares Bank of
America with three other companies in this sector in the United States: JPMorgan Chase & Co. (2008 sales of
$101.49 billion of which 23% was Retail Financial Services), Royal Bank of Scotland Group plc (The) ($107.61
billion of which 28% was Global Banking & Mkts), and Citigroup Inc. ($105.76 billion of which 27% was Consumer
Banking).

Sales Analysis

Bank of America reported sales of $112.99 billion for the year ending December of 2008. This represents a decrease
of 5.2% versus 2007, when the company's sales were $119.19 billion. Contributing to the drop in overall sales was
the 1.7% decline in Global Wealth and Investment Management, from $7.92 billion to $7.79 billion. . However, these
declines were partially offset by the increase in sales of Global Consumer and Small Business Banking (up 22.4% to
$58.34 billion) and Global Corporate and Investment Banking (up 0.2% to $13.44 billion) .
Recent Sales at Bank of America
117 119 113

85
66
49

2003 2004 2005 2006 2007 2008

(Figures in Billions of U.S. Dollars)
Most of the company's 2008 sales were in its home market of the United States: in 2008, this region's sales were
$67.55 billion, which is equivalent to 59.8% of total sales. On a geographical basis, contributing to the decline in the
company's sales in 2008 were the declines in Latin America, where sales dropped 49.5% to $443.00 million. Sales in
Europe were also lower, falling 26.3% (to $3.02 billion) . However, not all regions experienced a decline in sales.
Sales in the United States increased 13.1% (to $67.55 billion). Sales also increased in Asia (up 9.7% to $1.77
billion) . Bank of America currently has 243,000 employees. With sales of $112.99 billion , this equates to sales of
US$464,984 per employee. The sales per employee levels at the three comparable companies vary greatly, from
US$323,512 to US$539,393, as shown in the following table. Some of the variation may be due to the way each of
these companies counts employees (and if they count subcontractors, independent contractors, etc).
Sales Comparisons (Fiscal Year ending 2008)
Sales Sales Sales/
 Company (blns) Growth Emp (US$) Largest Region
Bank of America 112.991 -5.2% 464,984 the United States (59.8%)
JPMorgan Chase & Co. 101.491 -12.8% 451,149 the United States (49.1%)
Royal Bank of Scotland Group plc (The) 107.609 -1.8% 539,393 the United Kingdom (24.0%)
Citigroup Inc. 105.756 -33.6% 323,512 Asia-Pacific (14.8%)

Recent Stock Performance

In recent years, this stock has performed terribly. In 2006, the stock traded as high as $55.08, versus $14.17 on
5/8/2009. For the 52 weeks ending 5/8/2009, the stock of this company was down 61.3% to $14.17. During the
past 13 weeks, the stock has increased 131.2%. During the 12 months ending 3/31/2009, earnings per share
totalled $0.77 per share. Thus, the Price / Earnings ratio is 18.40. These 12 month earnings are greater than the
earnings per share achieved during the calendar year ending last December, when the company reported earnings of
0.55 per share. Earnings per share fell 83.3% in 2008 from 2007. Note that the earnings number includes a $.17 pre-
tax credit and $.40 pre-tax charge in 2008 ($.17 pre-tax credit and $.20 pre-tax charge Dec, $.40 pre-tax charge
Sep, $.16 pre-tax charge Jun and $.16 pre-tax charge Mar). This company is currently trading at 0.80 times sales.
Bank of America is trading at 0.51 times book value. Since the price to book ratio is less than 1, this means that
theoretically, the net value of the assets is greater than the value of a company as a going concern. At the end of
2008, this company's intangible assets were quite sizable, at $103.53 billion, while the total common equity stood at
$137.79 billion. If these intangible assets were to be excluded, the company's price to book ratio would be
significantly higher.
Summary of company valuations (as of 5/8/2009).
Price/ Price/ 52 Wk
Company P/E Book Sales Pr Chg
Bank of America 18.4 0.51 0.80 -61.30%
JPMorgan Chase & Co. 67.1 1.07 1.44 -16.38%
Royal Bank of Scotland Group plc (The) N/A 0.41 0.27 -88.95%
Citigroup Inc. N/A 0.31 0.21 -82.99%
The market capitalization of this company is $90.70 billion . Management, directors, and other insiders own less than
2% of the outstanding stock. The capitalization of the floating stock (i.e., that which is not closely held) is $90.00
billion .

Dividend Analysis

During the 12 months ending 3/31/2009, Bank of America paid dividends totalling $0.98 per share. Since the stock is
currently trading at $14.17, this implies a dividend yield of 6.9%. During the quarter ended 3/31/2009, the company
paid dividends of $0.01 per share. The company has paid a dividend for 6 straight years. During the same 12 month
period ended 3/31/2009, the Company reported earnings of $0.77 per share. Thus, the company is paying out
dividends that are higher than the earnings.
Profitability Analysis

The company's earnings before interest, taxes, depreciation and amorization (EBITDA) were $96.05 billion, or 85.0%
of sales. This EBITDA margin is worse than the company achieved in 2007, when the EBITDA margin was equal to
88.7% of sales. The three comparable companies had EBITDA margins that were all less (between 29.3% and
83.0%) than that achieved by Bank of America. In 2008, earnings before extraordinary items at Bank of America
were $4.01 billion, or 3.5% of sales. This profit margin is lower than the level the company achieved in 2007, when
the profit margin was 12.6% of sales. The company's return on equity in 2008 was 2.8%. This was significantly
worse than the 11.3% return the company achieved in 2007. (Extraordinary items have been excluded). Bank of
America reports profits by product line. During 2008, the itemized operating profits at all divisions were $5.62 billion,
which is equal to 5.0% of total sales. Of all the product lines, Global Wealth and Investment Management had the
highest operating profits in 2008, with operating profits equal to 28.5% of sales. (However, Global Wealth and
Investment Management only accounts for 7% of total sales at Bank of America). In fact, during each of the
previous 3 years, Global Wealth and Investment Management has had the highest operating profits of all product
lines at Bank of America. Global Corporate and Investment Banking had the lowest operating profit margin in 2008,
with the operating profit showing a loss equivalent to 0.2% of sales. In 2007, Global Corporate and Investment
Banking also was the product line with the lowest operating profit margin. This product line was profitable during
2007, when it reported profits of $840.00 million on sales of $13.42 billion, or approximately 6% of sales.

Financial Position
 As of December 2008, the company's long term debt was $225.41 billion and total liabilities (i.e., all monies owed)
were $1.64 trillion. The long term debt to equity ratio of the company is 1.27.
Financial Positions
LT Debt/
Company Year Equity
Bank of America 2008 1.27
JPMorgan Chase & Co. 2008 2.72
Royal Bank of Scotland Group plc (The) 2008 3.07
Citigroup Inc. 2008 3.82
Bank of America has made acquisitions during each of the three previous years. The company acquired Countrywide
Financial Corporation and Lasalle Bank in 2008 and Merrill Lynch and Co., Inc. in 2009. This followed acquisition of
Abn Amro North America Holding Co and Us Trust Corp in 2007 and Countrywide Financial Corporation and Lasalle
Bank in 2008. Finally, it purchased Mbna Corporation and Healthlogic Systems Corporation in 2006.
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Company Fundamentals\Summary Analysis

SUMMARY ANALYSIS: Bank of America Corporation

Per Share- U.S. Dollars

Value Ratios Equity Capital Earnings Dividends

Year Price

Market Price/ Price/ % % Profit Book 12 Month % 12 Month

Calendar Price Earnings Book Dividend Earned Rate Value Earnings % Payout Dividends
Year Last Ratio Ratio Yield Growth (ROE) Begin Yr Per Share Change Ratio Per Share

2000 22.94 10.1 1.8 4.5% 9.5% 17.4% 12.97 BF 2.26 0.9% 45.6% 1.03

2001 31.48 15.1 2.1 3.6% 6.4% 14.1% 14.78 BCF 2.09 -7.5% 54.5% 1.14

2002 34.79 11.8 2.3 3.5% 11.3% 19.2% 15.35 BCF 2.96 41.4% 41.3% 1.22
2003 D 40.22 11.3 2.5 3.6% 13.1% 22.0% 16.18 BCF 3.57 20.6% 40.4% 1.44

2004 D 46.99 12.7 2.9 3.6% 12.3% 22.8% 16.19 BCF 3.69 3.5% 46.1% A 1.70

2005 D 46.15 11.4 1.9 4.1% 8.7% 16.4% 24.62 BF 4.04 9.5% 47.0% 1.90

2006 D 53.39 11.6 2.1 4.0% 9.8% 18.1% 25.32 BCF 4.59 13.6% 46.2% 2.12

2007 D 41.26 12.5 1.4 5.8% 3.0% 11.1% 29.70 BF 3.30 -28.1% 72.7% 2.40
2008 D 14.08 25.6 0.4 15.9% -5.3% 1.7% 31.69 BF 0.55 -83.3% 407.3% 2.24

5/8/2009 14.17 18.4 0.5 6.9% n/a n/a 27.46 0.77 n/c 127.3% 0.98

(A): ALL ITEMS ADJUSTED FOR STOCK SPLITS OR DIVIDENDS - 2:1 ON 08/30/2004

(B): INCLUDES OR EXCLUDES EXTRAORDINARY CHARGE OR CREDIT - INCLS $.17 PRETAX CR & $.40 PRETAX CHG IN 2008
($.17 PRETAX CR & $.20 PRETAX CHG DEC, $.40 PRETAX CHG SEP, $.16 PRETAX CHG JUN & $.16 PRETAX CHG MAR),
INCLS $.06 CHG IN 2007 ($.02 CHG DEC, $.01 CHG SEP, $.01 CHG JUN & $.02 CHG MAR), INCLS $.11 CHG IN 2006 ($.03
CHG DEC, $.04 CHG SEP, $.03 CHG JUN & $.01 CHG MAR), INCLS $.07 CHG IN 2005 ($.01 CHG DEC, $.02 CHG SEP, $.02
CHG JUN & $.02 CHG MAR), INCLS $.16 PRETAX CHG IN 2004 ($.07 PRETAX CHG DEC, $.06 PRETAX CHG SEP & $.03
PRETAX CHG JUN), INCLS $.08 PRETAX CHG IN 2003 ($.04 PRETAX CHG DEC & $.04 PRETAX CHG SEP), INCLS $.07
PRETAX CHG DEC 2002, INCLS $.40 CHG & $.15 PRETAX CHG IN 2001 ($.15 PRETAX CHG DEC & $.40 CHG SEP), INCLS
$.01 CHG SEP 2000, INCLS $.20 CHG IN 1999 ($.12 CHG DEC & $.08 CHG JUN), INCLS $.90 CHG & $.24 PRETAX CR IN
1998 ($.25 CHG DEC, $.29 CHG SEP, $.24 PRETAX CR JUN, $.36 CHG MAR)

(C): INCLUDES THE EFFECTS OF A CHANGE IN ACCOUNTING POLICIES OR TAX LAWS - - ADOPTED SFAS 158 EMPLOYERS
ACCOUNTING FOR DEFINED BENEFIT PENSION AND OTHER POSTRETIREMENT PLANS, AN AMENDMENT OF FASB
STATEMENTS NO. 87, 88, 106, AND 132(R), SFAS 156 ACCOUNTING FOR SERVICING OF FINANCIAL ASSETS, AN
AMENDMENT OF FASB STATEMENT 140, SAB 108 CONSIDERING THE EFFECTS OF PRIOR YEAR MISSTATEMENTS WHEN
QUANTIFYING MISSTATEMENTS IN CURRENT YEAR FINANCIAL STATEMENTS IN 2006, - ADOPTED FAS 106-2 FOR
ACCOUNTING & DISCLOSURE REQUIREMENTS RELATED TO THE MEDICARE PRESCRIPTION DRUG, IMPROVEMENT &
MODERNIZATION ACT OF 2003, FIN 46R FOR CONSOLIDATION OF VARIABLE INTEREST ENTITIES, AN INTERPRETATION
OF ARB 51 & SAB 105 FOR APPLICATION OF ACCOUNTING PRINCIPLES TO LOAN COMMITMENTS IN 2004, EARNINGS
IMPACT NOT SPECIFIED IN THE FIRST CASE & EARNINGS IMPACT IMMATERIAL IN THE LAST TWO CASES, - ADOPTED
SFAS 150 FOR CERTAIN FINANL INSTRUMENTS WITH CHARACTERISTICS OF BOTH LIABS & EQUITY, 149, AN AMDMT TO
SFAS 133 FOR DERIVATIVE INSTRUMENTS & HEDGING ACTVTS, 148, AN AMDMT TO SFAS 123 FOR STK-BASED
COMPSN-TRANST & DISCL, FIN 46 FOR CONSLDN OF VARIABLE INTEREST ENTITIES & FIN 45 FOR GTORS DISCL REQMNT
FOR GTEES INC INDIRECT GTEES OF INDEBTEDNESS OF OTHS IN 2003, - ADOPTED SFAS 142 FOR GOODWILL & OTHER
INTANGIBLE ASSETS IN 2002, EARNINGS IMPACT NOT SPECIFIED, - ADOPTED SFAS 133 AS AMENDED BY SFAS 137 &
138 FOR ACCOUNTING FOR DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES & SFAS 140 ACCOUNTING FOR
TRANSFERS AND SERVICING OF FINANCIAL ASSETS AND EXTINGUISHMENTS OF LIABILITIES IN 2001. EARNINGS IMPACT
IMMATERIAL IN EITHER CASE, - ADOPTED SFAS 131 TO ACCOUNT FOR DISCLOSURES ABOUT SEGMENTS OF AN
ENTERPRISE AND RELATED INFORMATION IN 1998

(D): ACQ'D - COUNTRYWIDE FINANCIAL CORPORATION & LASALLE BANK IN 2008 & MERRILL LYNCH & CO., INC. IN 2009,
ABN AMRO NORTH AMERICA HOLDING CO & US TRUST CORP IN 2007 & COUNTRYWIDE FINANCIAL CORPORATION &
LASALLE BANK IN 2008, MBNA CORPORATION & HEALTHLOGIC SYSTEMS CORPORATION IN 2006, COMMERCIAL CARD
TECHNOLOGY & RELATED BUSINESS OF WORKS INC IN 2005 & MBNA CORPORATION & HEALTHLOGIC SYSTEMS
CORPORATION IN 2006, FLEETBOSTON FINANCIAL CORPORATION & NATIONAL PROCESSING INC IN 2004, 24.9% OF
GRUPO FINANCIERO SANTANDER SERFIN & FRAMEWORK INC IN 2003, BA MERCHANT SERVICES INC IN 1999,
BANKAMERICA CORP (OLD) & BARNETT BANKS INC IN 1998

(E): NAME CHANGED FROM BANKAMERICA CORP IN APR 1999, NAME CHANGED FROM NATIONSBANK IN SEP 1998

(F): BASED ON FULLY DILUTED SHARES

Copyright ©2000-2009 Distributed by Wright Investors' Service, Inc. All Rights Reserved. Except for quotations by established news media,
no pages on this site may be reproduced, stored in a retrieval system, or transmitted for commercial purposes, in any form or by any means,
electronic, mechanical, photocopying, recording, or otherwise without prior written permission. Information is believed reliable, but accuracy,
completeness and opinions are not guaranteed.
Company Fundamentals\Sales Analysis
SALES ANALYSIS: Bank of America Corporation
Figures in millions of U.S. Dollars

Earnings before
Interest, After Tax Income
Taxes, before
Depreciation, and Extraordinary
Operating Expense Amortization Charges and
Revenues - Total (EBITDA) Credits Employees
After Tax
Amount Year-to- Amount Amount Amount Revenues Income
in year in % of in % of in % of Per Per
Year millions Growth millions Revenues millions Revenues millions Revenues Number Employee Employee

1999 51,632 -0.3% 38,892 75.3% 16,844 32.6% 7,882 15.3% 155,906 331,174 50,556
2000 57,772 11.9% 45,434 78.6% 17,668 30.6% 7,517 13.0% 142,724 404,781 52,668

2001 53,116 -8.1% 40,815 76.8% 14,766 27.8% 6,792 12.8% 143,000 371,441 47,497
2002 46,444 -12.6% 33,243 71.6% 16,332 35.2% 9,249 19.9% 133,944 346,742 69,051
2003 49,006 5.5% 32,925 67.2% 18,785 38.3% 10,810 22.1% 133,549 366,951 80,944
2004 65,910 34.5% 43,608 66.2% 24,597 37.3% 14,143 21.5% 175,742 375,038 80,476

2005 85,064 29.1% 60,172 70.7% 29,857 35.1% 16,465 19.4% 176,638 481,572 93,213
2006 116,574 37.0% 83,796 71.9% 40,121 34.4% 21,133 18.1% 203,425 573,056 103,886
2007 119,190 2.2% 97,856 82.1% 31,451 26.4% 14,982 12.6% 210,000 567,571 71,343
2008 112,991 -5.2% 107,743 95.4% 15,851 14.0% 4,008 3.5% 243,000 464,984 16,494
Copyright ©2000-2009 Distributed by Wright Investors' Service, Inc. All Rights Reserved. Except for quotations by established news media, no pages on this site may be reproduced, stored in a retrieval
system, or transmitted for commercial purposes, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without prior written permission. Information is believed reliable,
but accuracy, completeness and opinions are not guaranteed.
Company Fundamentals\Price Analysis

PRICE ANALYSIS: Bank of America Corporation

Per Share- U.S. Dollars

High Low Closing Quarterly 12 months

Quarter Price Price Price %Change %Change

2000 Jan - Mar 27.594 21.157 26.219 n/a n/a

Apr - Jun 30.500 21.500 21.688 -17.3% n/a

Jul - Sep 28.813 21.813 26.188 20.7% n/a

Oct - Dec 27.375 18.157 22.938 -12.4% n/a

2001 Jan - Mar 27.970 22.500 27.375 19.3% 4.4%

Apr - Jun 31.090 24.325 30.015 9.6% 38.4%

Jul - Sep 32.770 25.125 29.200 -2.7% 11.5%

Oct - Dec 32.495 26.050 31.475 7.8% 37.2%

2002 Jan - Mar 34.805 28.755 34.010 8.1% 24.2%

Apr - Jun 38.545 33.410 35.180 3.4% 17.2%

Jul - Sep 36.350 27.555 31.900 -9.3% 9.2%

Oct - Dec 36.000 26.975 34.785 9.0% 10.5%

2003 Jan - Mar 36.250 32.130 33.420 -3.9% -1.7%

Apr - Jun 40.000 33.600 39.515 18.2% 12.3%

Jul - Sep 42.450 37.290 39.020 -1.3% 22.3%

Oct - Dec 41.375 36.225 40.215 3.1% 15.6%

2004 Jan - Mar 41.500 38.800 40.490 0.7% 21.2%

Apr - Jun 42.840 38.505 42.310 4.5% 7.1%

Jul - Sep 44.990 41.700 43.330 2.4% 11.0%

Oct - Dec 47.470 42.940 46.990 8.4% 16.8%

2005 Jan - Mar 47.200 43.400 44.100 -6.2% 8.9%

Apr - Jun 47.440 43.470 45.610 3.4% 7.8%

Jul - Sep 46.050 41.130 42.100 -7.7% -2.8%

Oct - Dec 47.250 41.380 46.150 9.6% -1.8%

2006 Jan - Mar 47.240 40.930 45.540 -1.3% 3.3%

Apr - Jun 50.500 45.260 48.100 5.6% 5.5%

Jul - Sep 54.000 47.590 53.570 11.4% 27.2%

Oct - Dec 55.080 51.320 53.390 -0.3% 15.7%

2007 Jan - Mar 54.210 48.360 51.020 -4.4% 12.0%

Apr - Jun 52.200 48.550 48.890 -4.2% 1.6%

Jul - Sep 52.780 46.520 50.270 2.8% -6.2%

Oct - Dec 52.960 40.610 41.260 -17.9% -22.7%

 2008 Jan - Mar 45.080 33.120 37.910 -8.1% -25.7%

Apr - Jun 41.864 22.440 23.870 -37.0% -51.2%

Jul - Sep 39.500 18.440 35.000 46.6% -30.4%

Oct - Dec 38.500 10.010 14.080 -59.8% -65.9%

2009 Jan - Mar 14.810 2.530 6.820 -51.6% -82.0%

5/8/2009 14.170 131.2% -61.3%

Copyright ©2000-2009 Distributed by Wright Investors' Service, Inc. All Rights Reserved. Except for quotations by established news media, no pages on this site may be reproduced, stored in a
retrieval system, or transmitted for commercial purposes, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without prior written permission.
Information is believed reliable, but accuracy, completeness and opinions are not guaranteed.
Company Fundamentals\Earnings & Dividends Analysis
EARNINGS AND DIVIDENDS ANALYSIS: Bank of America Corporation
Per Share- U.S. Dollars
Fiscal Year Ends in December

Earnings Per Share Dividends Per Share

12 Months Quarterly Reported Earnings 12 Months Quarterly Reported Dividends

Calendar % Q1 Q2 Q3 Q4 % Q1 Q2 Q3 Q4 %
Years Earnings Change Mar. Jun. Sep. Dec. Dividends Change Mar. Jun. Sep. Dec. Payout
1998 1.45 -30.5% 0.38 0.64 0.11 0.33 0.80 n/c 0.19 0.19 0.19 0.23 50.2%
1999 DE BF 2.24 54.5% 0.54 0.54 0.62 0.55 0.93 16.4% 0.23 0.23 0.23 0.25 40.5%
2000 BF 2.26 0.9% 0.67 0.62 0.55 0.43 1.03 11.4% 0.25 0.25 0.25 0.28 45.0%
2001 BCF 2.09 -7.5% 0.58 0.62 0.26 0.64 1.14 10.7% 0.28 0.28 0.28 0.30 53.4%
2002 BCF 2.96 41.4% 0.69 0.70 0.73 0.85 1.22 7.0% 0.30 0.30 0.30 0.32 40.1%
2003 D BCF 3.57 20.6% 0.79 0.90 0.96 0.92 1.44 18.0% 0.32 0.32 0.40 0.40 39.6%
2004 D BCF 3.69 3.5% 0.91 0.93 0.91 0.94 A 1.70 18.1% 0.40 0.40 0.45 0.45 45.7%
2005 D BF 4.04 9.5% 1.07 1.14 0.95 0.88 1.90 11.8% 0.45 0.45 0.50 0.50 46.7%
2006 D BCF 4.59 13.6% 1.06 1.19 1.18 1.16 2.12 11.6% 0.50 0.50 0.56 0.56 45.7%
2007 D BF 3.30 -28.1% 1.15 1.28 0.82 0.05 2.40 13.2% 0.56 0.56 0.64 0.64 72.3%
2008 D BF 0.55 -83.3% 0.22 0.70 0.15 -0.52 2.24 -6.7% 0.64 0.64 0.64 0.32 n/c
2009 n/a n/c 0.44 n/a n/a n/a n/a n/c 0.01 0.01 n/a n/a n/c

(A): ALL ITEMS ADJUSTED FOR STOCK SPLITS OR DIVIDENDS - 2:1 ON 08/30/2004

(B): INCLUDES OR EXCLUDES EXTRAORDINARY CHARGE OR CREDIT - INCLS $.17 PRETAX CR & $.40 PRETAX CHG
IN 2008 ($.17 PRETAX CR & $.20 PRETAX CHG DEC, $.40 PRETAX CHG SEP, $.16 PRETAX CHG JUN & $.16 PRETAX
CHG MAR), INCLS $.06 CHG IN 2007 ($.02 CHG DEC, $.01 CHG SEP, $.01 CHG JUN & $.02 CHG MAR), INCLS $.11 CHG
IN 2006 ($.03 CHG DEC, $.04 CHG SEP, $.03 CHG JUN & $.01 CHG MAR), INCLS $.07 CHG IN 2005 ($.01 CHG DEC, $.02
CHG SEP, $.02 CHG JUN & $.02 CHG MAR), INCLS $.16 PRETAX CHG IN 2004 ($.07 PRETAX CHG DEC, $.06 PRETAX
CHG SEP & $.03 PRETAX CHG JUN), INCLS $.08 PRETAX CHG IN 2003 ($.04 PRETAX CHG DEC & $.04 PRETAX CHG
SEP), INCLS $.07 PRETAX CHG DEC 2002, INCLS $.40 CHG & $.15 PRETAX CHG IN 2001 ($.15 PRETAX CHG DEC & $.40
CHG SEP), INCLS $.01 CHG SEP 2000, INCLS $.20 CHG IN 1999 ($.12 CHG DEC & $.08 CHG JUN)

(C):INCLUDES THE EFFECTS OF A CHANGE IN ACCOUNTING POLICIES OR TAX LAWS - - ADOPTED SFAS 158
EMPLOYERS ACCOUNTING FOR DEFINED BENEFIT PENSION AND OTHER POSTRETIREMENT PLANS, AN
AMENDMENT OF FASB STATEMENTS NO. 87, 88, 106, AND 132(R), SFAS 156 ACCOUNTING FOR SERVICING OF
FINANCIAL ASSETS, AN AMENDMENT OF FASB STATEMENT 140, SAB 108 CONSIDERING THE EFFECTS OF PRIOR
YEAR MISSTATEMENTS WHEN QUANTIFYING MISSTATEMENTS IN CURRENT YEAR FINANCIAL STATEMENTS IN
2006, - ADOPTED FAS 106-2 FOR ACCOUNTING & DISCLOSURE REQUIREMENTS RELATED TO THE MEDICARE
PRESCRIPTION DRUG, IMPROVEMENT & MODERNIZATION ACT OF 2003, FIN 46R FOR CONSOLIDATION OF
VARIABLE INTEREST ENTITIES, AN INTERPRETATION OF ARB 51 & SAB 105 FOR APPLICATION OF ACCOUNTING
PRINCIPLES TO LOAN COMMITMENTS IN 2004, EARNINGS IMPACT NOT SPECIFIED IN THE FIRST CASE &
EARNINGS IMPACT IMMATERIAL IN THE LAST TWO CASES, - ADOPTED SFAS 150 FOR CERTAIN FINANL
INSTRUMENTS WITH CHARACTERISTICS OF BOTH LIABS & EQUITY, 149, AN AMDMT TO SFAS 133 FOR
DERIVATIVE INSTRUMENTS & HEDGING ACTVTS, 148, AN AMDMT TO SFAS 123 FOR STK-BASED COMPSN-
TRANST & DISCL, FIN 46 FOR CONSLDN OF VARIABLE INTEREST ENTITIES & FIN 45 FOR GTORS DISCL REQMNT
FOR GTEES INC INDIRECT GTEES OF INDEBTEDNESS OF OTHS IN 2003, - ADOPTED SFAS 142 FOR GOODWILL &
OTHER INTANGIBLE ASSETS IN 2002, EARNINGS IMPACT NOT SPECIFIED, - ADOPTED SFAS 133 AS AMENDED BY
SFAS 137 & 138 FOR ACCOUNTING FOR DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES & SFAS 140
ACCOUNTING FOR TRANSFERS AND SERVICING OF FINANCIAL ASSETS AND EXTINGUISHMENTS OF LIABILITIES
IN 2001. EARNINGS IMPACT IMMATERIAL IN EITHER CASE

(D): ACQ'D - COUNTRYWIDE FINANCIAL CORPORATION & LASALLE BANK IN 2008 & MERRILL LYNCH & CO., INC.
IN 2009, ABN AMRO NORTH AMERICA HOLDING CO & US TRUST CORP IN 2007 & COUNTRYWIDE FINANCIAL
CORPORATION & LASALLE BANK IN 2008, MBNA CORPORATION & HEALTHLOGIC SYSTEMS CORPORATION IN
2006, COMMERCIAL CARD TECHNOLOGY & RELATED BUSINESS OF WORKS INC IN 2005 & MBNA CORPORATION
& HEALTHLOGIC SYSTEMS CORPORATION IN 2006, FLEETBOSTON FINANCIAL CORPORATION & NATIONAL
PROCESSING INC IN 2004, 24.9% OF GRUPO FINANCIERO SANTANDER SERFIN & FRAMEWORK INC IN 2003, BA
MERCHANT SERVICES INC IN 1999

(E): NAME CHANGED FROM BANKAMERICA CORP IN APR 1999

(F): BASED ON FULLY DILUTED SHARES

Copyright ©2000-2009 Distributed by Wright Investors' Service, Inc. All Rights Reserved. Except for quotations by established news media, no pages on this site may be reproduced, stored in a retrieval
system, or transmitted for commercial purposes, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without prior written permission. Information is believed reliable,
but accuracy, completeness and opinions are not guaranteed.
Financial Statement AnalysesFinancial Statement Analyses\Balance Sheet - Common Size
Balance Sheet - (Common Size): Bank of America Corporation
Figures are expressed as Percent of Total Assets.
Total Assets are in millions of U.S. Dollars.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 12/31/2008 12/31/2007 12/31/2006 12/31/2005 12/31/2004
Assets
Total Assets 1,817,943.0 1,715,746.0 1,459,737.0 1,291,803.0 1,110,457.0
Cash & Due from
1.8% 2.5% 2.5% 2.9% 2.6%
Banks
Investments – Total 35.6% 33.3% 35.8% 42.7% 39.0%
Treasury Securities 0.3% 0.0% 0.0% 0.1% 0.1%
Federal Agency
Securities
State and Municipal
Securities
Trading Account
8.8% 9.4% 10.5% 10.2% 8.4%
Securities
Securities
Purchased under
Resale Agreements
Mortgage Backed
12.6% 9.5% 10.7% 14.9% 15.6%
Securities
Federal Funds 4.5% 7.6% 9.3% 11.6% 8.2%
Other Securities 3.8% 4.0% 2.6% 2.6% 2.2%
Other Investments 5.7% 2.7% 2.6% 3.4% 4.5%
Loans – Total 51.2% 51.1% 48.4% 44.4% 47.0%
Interbank Loans
Lease Financing 1.2% 1.3% 1.5% 1.6% 1.9%
Commercial &
12.2% 12.4% 11.1% 10.9% 11.0%
Industrial Loans
Consumer &
16.6% 15.0% 14.6% 13.4% 13.1%
Instalment Loans
 Real Estate
18.3% 19.6% 19.0% 16.9% 18.9%
Mortgage Loans
Foreign Loans 2.9% 2.8% 2.2% 1.7% 2.0%
Broker & Financial
Institution Loans
Unspecified/Other
0.0% 0.0% 0.0% 0.0% 0.0%
Loans
Unearned Income
Reserves for Loan
1.3% 0.7% 0.6% 0.6% 0.8%
Losses
Loans - Net 50.0% 50.4% 47.8% 43.8% 46.2%
Investment in
0.2% 0.0%
Associated Companies
Customer Liabilities on
0.0% 0.0% 0.0% 0.0% 0.0%
Acceptances (Assets)
Real Estate Assets 0.1% 0.0% 0.0% 0.0% 0.0%
Property Plant and
Equipment - Gross
Accumulated
Depreciation
Property Plant and
0.7% 0.7% 0.6% 0.6% 0.7%
Equipment – Net
Other Assets 11.8% 13.1% 13.3% 9.8% 11.4%
Interest Receivable
Deferred Charges
Tangible Other
6.1% 7.8% 8.0% 5.9% 6.8%
Assets
Intangible Other
5.7% 5.3% 5.4% 4.0% 4.6%
Assets
Total Assets 100.0% 100.0% 100.0% 100.0% 100.0%
Liabilities &
Shareholders' Equity
Total Liabilities &
1,817,943.0 1,715,746.0 1,459,737.0 1,291,803.0 1,110,457.0
Shareholders' Equity
Deposits - Total 48.6% 46.9% 47.5% 49.1% 55.7%
Demand Deposits 11.8% 11.0% 12.3% 13.9% 14.8%
Savings/Other Time
31.7% 29.3% 28.6% 29.7% 35.7%
Deposits
Foreign Office
5.1% 6.7% 6.5% 5.5% 5.2%
Deposits
Unspecified
0.0% 0.0% 0.0% 0.0% 0.0%
Deposits
Total Debt 34.8% 35.6% 34.6% 35.4% 26.7%
Short Term Debt &
Current Portion of Long 22.4% 25.8% 25.8% 28.5% 18.7%
Term Debt
Long-Term Debt 12.4% 9.7% 8.8% 6.9% 8.0%
Long-Term Debt
Excluding Capitalized 12.4% 9.7% 8.8% 6.9% 8.0%
Leases
Capitalized Lease
0.0% 0.0% 0.0% 0.0% 0.0%
Obligations
Provision for Risks and
Charges
Deferred Income 0.0% 0.0% 0.0% 0.0% 0.0%
Deferred Taxes
Deferred Taxes-
Credit
Deferred Taxes-
Debit
Deferred Tax
Liability in Untaxed
Reserves
Other Liabilities 6.9% 9.0% 8.6% 7.6% 8.6%
Total Liabilities 90.3% 91.4% 90.7% 92.1% 91.0%
Non-Equity Reserves 0.0% 0.0% 0.0% 0.0% 0.0%
Minority Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Preferred Stock 2.2% 0.3% 0.2% 0.0% 0.0%
 Preferred Stock
Issued for ESOP
ESOP Guarantees-
Preferred Issued
Common Equity 7.6% 8.3% 9.1% 7.8% 8.9%
Total Liabilities &
100.0% 100.0% 100.0% 100.0% 100.0%
Shareholders' Equity
Financial Statement Analyses\Balance Sheet - Year-Year % Change
Balance Sheet - (Year to Year Percent Change): Bank of America
Corporation
Figures are the Percent Changes from the Prior Year.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 12/31/2008 12/31/2007 12/31/2006 12/31/2005 12/31/2004
Assets
Total Assets 6.0% 17.5% 13.0% 16.3% 50.8%
Cash & Due from Banks -22.7% 16.8% -1.5% 27.9% 6.8%
Investments – Total 13.3% 9.6% -5.3% 27.1% 61.9%
Treasury Securities 512.3% 10.3% -4.0% -13.1% 15.7%
Federal Agency
Securities
State and Municipal
Securities
Trading Account
-1.6% 5.9% 16.2% 40.7% 36.5%
Securities
Securities Purchased
under Resale Agreements
Mortgage Backed
40.2% 4.3% -18.3% 10.8% 210.0%
Securities
Federal Funds -36.3% -4.4% -9.6% 64.0% 19.4%
Other Securities -1.3% 80.2% 15.8% 35.0% 86.5%
Other Investments 122.4% 24.2% -14.7% -12.4% -5.6%
Loans – Total 6.3% 24.0% 23.1% 10.0% 40.5%
Interbank Loans
Lease Financing -0.8% 3.3% 5.6% -4.1%
Commercial & Industrial
4.2% 31.4% 15.3% 15.1% 26.3%
Loans
Consumer & Instalment
17.1% 20.4% 23.5% 18.6% 49.2%
Loans
Real Estate Mortgage
-1.0% 21.2% 27.1% 4.0% 31.6%
Loans
 Foreign Loans 12.0% 50.1% 48.5% -4.8% 27.4%
Broker & Financial
Institution Loans
Unspecified/Other
Loans
Unearned Income
Reserves for Loan Losses 99.1% 28.5% 12.1% -6.7% 40.0%
Loans - Net 5.0% 24.0% 23.3% 10.2% 40.5%
Investment in Associated
1,415.2% -40.4%
Companies
Customer Liabilities on
Acceptances (Assets)
Real Estate Assets 420.5% 408.7% -25.0% -9.8% -31.1%
Property Plant and
Equipment - Gross
Accumulated
Depreciation
Property Plant and
17.1% 21.4% 18.9% 3.6% 24.5%
Equipment – Net
Other Assets -5.0% 15.7% 53.3% 0.0% 81.9%
Interest Receivable
Deferred Charges
Tangible Other Assets -17.6% 15.0% 54.0% 0.4% 31.1%
Intangible Other Assets 13.5% 16.7% 52.1% -0.5% 317.6%
Total Assets 6.0% 17.5% 13.0% 16.3% 50.8%
Liabilities &
Shareholders' Equity
Total Liabilities &
6.0% 17.5% 13.0% 16.3% 50.8%
Shareholders' Equity
Deposits - Total 9.7% 16.1% 9.3% 2.6% 49.4%
Demand Deposits 13.5% 4.6% 0.4% 9.6% 38.3%
 Savings/Other Time
15.0% 20.0% 8.8% -3.1% 51.4%
Deposits
Foreign Office Deposits -19.8% 20.7% 34.1% 22.1% 73.0%
Unspecified Deposits
Total Debt 3.8% 20.8% 10.3% 54.4% 51.3%
Short Term Debt &
Current Portion of Long -8.0% 17.8% 2.1% 77.1% 56.6%
Term Debt
Long-Term Debt 34.9% 29.7% 43.7% 1.2% 40.2%
Long-Term Debt
Excluding Capitalized 34.9% 29.7% 43.7% 1.2% 40.2%
Leases
Capitalized Lease
Obligations
Provision for Risks and
Charges
Deferred Income
Deferred Taxes
Deferred Taxes-Credit
Deferred Taxes-Debit
Deferred Tax Liability
in Untaxed Reserves
Other Liabilities -18.7% 21.9% 28.9% 2.1% 22.1%
Total Liabilities 4.6% 18.5% 11.3% 17.8% 46.8%
Non-Equity Reserves
Minority Interest
Preferred Stock 790.5% 54.6% 952.0% 0.0% 401.9%
Preferred Stock Issued
for ESOP
ESOP Guarantees-
Preferred Issued
Common Equity -3.2% 7.5% 30.8% 1.9% 107.3%
 Total Liabilities &
6.0% 17.5% 13.0% 16.3% 50.8%
Shareholders' Equity
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site may be reproduced, stored in a retrieval system, or transmitted for commercial purposes, in any form or by any means, electronic, mechanical,
Financial Statement Analyses\Balance Sheet - Five-Year Averages
Balance Sheet - (5 Year Averages): Bank of America Corporation
Figures in millions of U.S. Dollars.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 12/31/2008 12/31/2007 12/31/2006 12/31/2005 12/31/2004
Assets
Total Assets 1,479,137.2 1,262,837.6 1,051,780.0 884,185.4 754,263.0
Cash & Due from Banks 35,550.4 34,395.8 30,884.2 28,965.8 27,068.6
Investments – Total 545,323.8 469,294.8 401,725.8 330,909.6 249,135.2
Treasury Securities 1,527.2 740.4 730.8 850.2 5,066.8
Federal Agency
Securities
State and Municipal
Securities
Trading Account
139,986.4 121,791.4 102,177.8 81,036.2 63,303.0
Securities
Securities Purchased
under Resale
Agreements
Mortgage Backed
183,093.0 148,356.2 127,544.6 110,787.2 79,879.6
Securities
Federal Funds 117,730.6 116,533.4 99,598.6 78,124.6 53,778.6
Other Securities 46,804.6 35,755.0 23,858.0 18,387.2 13,055.8
Other Investments 56,182.0 46,118.4 47,816.0 41,724.2 34,051.4
Loans – Total 721,981.6 609,985.0 503,267.2 427,799.8 391,480.2
Interbank Loans
Lease Financing 21,829.4
Commercial &
171,852.2 146,828.2 125,261.4 116,506.0 122,838.2
Industrial Loans
Consumer &
218,070.8 177,379.2 143,448.0 117,735.0 103,552.6
Instalment Loans
Real Estate
274,982.8 240,317.2 198,689.2 163,296.2 136,502.6
Mortgage Loans
 Foreign Loans 35,246.4 28,111.0 23,035.6 21,802.4 24,267.6
Broker & Financial
Institution Loans
Unspecified/Other
0.0 0.0 0.0 0.0 0.0
Loans
Unearned Income
Reserves for Loan
12,069.2 8,687.6 7,740.2 7,312.0 7,070.6
Losses
Loans - Net 709,912.4 601,297.4 495,527.0 420,487.8 384,409.6
Investment in Associated
783.4 183.4
Companies
Customer Liabilities on
0.0 0.0 0.0 0.0 394.4
Acceptances (Assets)
Real Estate Assets 488.2 152.4 127.2 193.8 225.2
Property Plant and
Equipment - Gross
Accumulated
Depreciation
Property Plant and
9,791.8 8,366.8 7,462.2 6,894.0 6,623.4
Equipment – Net
Other Assets 177,431.0 148,624.4 115,270.2 95,951.0 86,223.2
Interest Receivable
Deferred Charges
Tangible Other
102,268.6 91,694.4 74,078.0 67,395.0 63,670.8
Assets
Intangible Other
75,162.4 56,930.0 41,192.2 27,996.0 21,106.0
Assets
Total Assets 1,479,137.2 1,262,837.6 1,051,780.0 884,185.4 754,263.0
Liabilities &
Shareholders' Equity
Total Liabilities &
1,479,137.2 1,262,837.6 1,051,780.0 884,185.4 754,263.0
Shareholders' Equity
Deposits - Total 726,982.2 633,205.4 549,461.6 485,461.2 431,376.0
 Demand Deposits 185,219.0 166,119.2 152,963.2 139,329.8 123,160.0
Savings/Other Time
455,544.0 392,562.8 338,650.4 299,171.0 264,735.6
Deposits
Foreign Office
86,219.2 74,523.4 57,848.0 46,960.4 43,480.4
Deposits
Unspecified Deposits 0.0 0.0 0.0 0.0 0.0
Total Debt 500,398.8 412,983.0 322,474.4 247,997.0 188,273.8
Short Term Debt &
Current Portion of Long 360,495.6 305,531.8 236,646.4 177,749.4 126,299.4
Term Debt
Long-Term Debt 139,903.2 107,451.2 85,828.0 70,247.6 61,974.4
Long-Term Debt
Excluding Capitalized 139,903.2 107,451.2 85,828.0 70,241.6 61,962.2
Leases
Capitalized Lease
0.0
Obligations
Provision for Risks and
Charges
Deferred Income 0.0 0.0 0.0 0.0 0.0
Deferred Taxes
Deferred Taxes-
Credit
Deferred Taxes-Debit
Deferred Tax Liability
in Untaxed Reserves
Other Liabilities 119,695.2 110,402.6 92,894.2 80,021.8 73,697.8
Total Liabilities 1,347,076.2 1,156,591.0 964,830.2 813,480.0 693,347.6
Non-Equity Reserves 0.0 0.0 0.0 0.0 0.0
Minority Interest 0.0 0.0 0.0 0.0 0.0
Preferred Stock 9,412.6 1,571.2 701.0 1,249.8 2,201.0
Preferred Stock
Issued for ESOP
 ESOP Guarantees-
Preferred Issued
Common Equity 122,648.4 104,675.4 86,248.8 69,455.6 58,714.4
Total Liabilities &
1,479,137.2 1,262,837.6 1,051,780.0 884,185.4 754,263.0
Shareholders' Equity
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Financial Statement Analyses\Income Statement - Common Size
Income Statement - (Common Size): Bank of America Corporation
Figures are expressed as Percent of Net Sales or Revenues.
Net Sales or Revenues are in millions of U.S. Dollars.
Fiscal Year 2008 2007 2006 2005 2004
Net Sales or Revenues 112,991.0 119,190.0 116,574.0 85,064.0 65,910.0
Interest Income - Total 75.8% 73.2% 67.4% 68.9% 65.6%
Interest and Fees on Loans 49.6% 46.7% 41.4% 41.0% 42.8%
Interest Income on Federal Funds 2.9% 6.5% 6.7% 5.9% 3.1%
Interest Income on Bank Deposits 0.0% 0.0% 0.0% 0.0% 0.0%
Interest Income on Government
11.6% 8.2% 10.0% 12.9% 11.0%
Securities
Other Interest or Dividend Income 11.7% 11.8% 9.3% 9.2% 8.7%
Interest Expense - Total 35.7% 44.4% 37.7% 32.8% 21.9%
Interest Expense on Bank Deposits 13.5% 15.2% 12.4% 11.2% 9.5%
Interest Expense on Federal Funds
Interest Expense on Other
13.4% 21.3% 19.3% 16.4% 8.7%
Borrowed Funds
Interest Expense on Debt 8.8% 7.9% 6.0% 5.2% 3.6%
Interest Capitalized 0.0% 0.0% 0.0% 0.0% 0.0%
Net Interest Income 40.1% 28.9% 29.7% 36.1% 43.7%
Non-Interest Income 24.2% 26.8% 32.6% 31.1% 34.4%
Investment Income
Foreign Exchange Income
Gains/Losses on Sale of Securities
1.0% 0.2% -0.4% 1.3% 3.2%
- Pretax
Non-Operating Interest Income
Trading Account Income -5.2% -4.3% 2.7% 2.1% 1.3%
Trusts & Fiduciary
27.3% 25.6% 25.1% 23.9% 25.9%
Income/Commission & Fees
Trust Income 0.0% 0.0%
Commission & Fees 27.3% 25.6% 25.1% 23.9% 25.9%
Other Operating Income 1.1% 5.3% 5.1% 3.8% 3.9%
Non-Interest Expense 35.9% 30.7% 29.8% 33.2% 40.1%
Staff Costs 16.3% 15.7% 15.6% 17.7% 20.4%
Equipment Expense 3.4% 2.7% 2.6% 3.3% 4.0%
Depreciation and Depletion 1.3% 1.0% 1.0% 1.1% 1.5%
Taxes Other than Income Taxes
Operating Provisions
Other Operating Expenses 15.0% 11.3% 10.7% 11.1% 14.2%
Provision for Loan Losses 23.7% 7.0% 4.3% 4.7% 4.2%
Operating Income 4.6% 17.9% 28.1% 29.3% 33.8%
Extraordinary Credit - Pretax 0.0% 0.0% 0.0% 0.0% 0.0%
Extraordinary Charge - Pretax 1.4% 0.3% 0.7% 0.5% 1.6%
Other Income/Expense - Net 0.7% 0.0% 0.0% 0.0% 0.0%
Pretax Equity in Earnings
Reserves - Increase/Decrease 0.0% 0.0% 0.0% 0.0% 0.0%
Earnings before Interest, Taxes,
Depreciation & Amortization 14.0% 26.4% 34.4% 35.1% 37.3%
(EBITDA)
Earnings before Interest & Taxes
12.7% 25.4% 33.5% 34.0% 35.8%
(EBIT)
Pretax Income 3.9% 17.6% 27.4% 28.8% 32.2%
Income Taxes 0.4% 5.0% 9.3% 9.4% 10.7%
Minority Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Equity in Earnings 0.0%
After Tax Other Income/Expense 0.0% 0.0% 0.0% 0.0% 0.0%
Discontinued Operations 0.0% 0.0% 0.0% 0.0% 0.0%
Net Income before Extraordinary
3.5% 12.6% 18.1% 19.4% 21.5%
Items/Preferred Dividends
Extraordinary Items & Gain/Loss
0.0% 0.0% 0.0% 0.0% 0.0%
Sale of Assets
 Preferred Dividend Requirements 1.3% 0.2% 0.0% 0.0% 0.0%
Net Income after Preferred
2.3% 12.4% 18.1% 19.3% 21.4%
Dividends - available to Common
Copyright ©2000-2009 Distributed by Wright Investors' Service, Inc. All Rights Reserved. Except for quotations by established news media, no pages on this
site may be reproduced, stored in a retrieval system, or transmitted for commercial purposes, in any form or by any means, electronic, mechanical,
photocopying, recording, or otherwise without prior written permission. Information is believed reliable, but accuracy, completeness and opinions are not
Financial Statement Analyses\Income Statement - Year-Year % Change
Income Statement - (Year to Year Percent Change): Bank of America
Corporation
Figures are the Percent Changes from the Prior Year.
Fiscal Year 2008 2007 2006 2005 2004
Net Sales or Revenues -5.2% 2.2% 37.0% 29.1% 34.5%
Interest Income - Total -1.9% 11.1% 34.0% 35.6% 36.6%
Interest and Fees on Loans 0.6% 15.3% 38.5% 23.5% 30.2%
Interest Income on Federal Funds -57.1% -1.3% 56.1% 145.3% 48.8%
Interest Income on Bank Deposits
Interest Income on Government Securities 34.4% -16.1% 6.6% 50.5% 129.9%
Other Interest or Dividend Income -6.4% 30.3% 38.3% 37.4%
Interest Expense - Total -23.7% 20.2% 57.7% 93.3% 41.8%
Interest Expense on Bank Deposits -15.7% 25.0% 52.5% 51.3%
Interest Expense on Federal Funds
Interest Expense on Other Borrowed Funds -40.5% 13.1% 60.8% 143.1% 77.7%
Interest Expense on Debt 6.2% 33.1% 59.2% 83.8% 18.2%
Interest Capitalized
Net Interest Income 31.7% -0.5% 12.5% 6.7% 34.2%
Non-Interest Income -14.4% -16.1% 43.7% 16.6% 30.6%
Investment Income
Foreign Exchange Income
-
Gains/Losses on Sale of Securities - Pretax 524.4% -48.9% 125.6%
140.9%
Non-Operating Interest Income
-
Trading Account Income 74.7% 108.5% 112.5%
262.1%
Trusts & Fiduciary Income/Commission &
1.3% 4.1% 44.3% 18.8% 34.0%
Fees
Trust Income
Commission & Fees 1.3% 4.1% 44.3% 18.8% 34.0%
Other Operating Income -80.7% 6.4% 84.4% 24.6% -20.1%
Non-Interest Expense 10.9% 5.2% 23.1% 7.0% 32.7%
Staff Costs -2.0% 3.0% 21.0% 11.7% 29.0%
Equipment Expense 16.4% 7.2% 7.5% 7.9% 20.9%
Depreciation and Depletion 27.1% 4.8% 16.2% -1.3% 9.2%
Taxes Other than Income Taxes
Operating Provisions
Other Operating Expenses 26.3% 8.0% 31.8% 0.9% 45.9%
Provision for Loan Losses 219.9% 67.4% 24.8% 45.0% -2.5%
Operating Income -75.4% -34.9% 31.7% 11.6% 38.7%
Extraordinary Credit - Pretax
Extraordinary Charge - Pretax 289.3% -49.1% 95.4% -61.9% 391.4%
Other Income/Expense - Net
Pretax Equity in Earnings
Reserves - Increase/Decrease
Earnings before Interest, Taxes,
-49.6% -21.6% 34.4% 21.4% 30.9%
Depreciation & Amortization (EBITDA)
Earnings before Interest & Taxes(EBIT) -52.6% -22.4% 35.0% 22.3% 32.0%
Pretax Income -78.8% -34.6% 30.6% 15.4% 33.8%
Income Taxes -92.9% -45.2% 35.2% 13.2% 40.1%
Minority Interest
Equity in Earnings
After Tax Other Income/Expense
Discontinued Operations
Net Income before Extraordinary
-73.2% -29.1% 28.4% 16.4% 30.8%
Items/Preferred Dividends
Extraordinary Items & Gain/Loss Sale of
Assets
Preferred Dividend Requirements 697.8% 727.3% 22.2% 12.5% 300.0%
 Net Income after Preferred Dividends -
-82.7% -29.9% 28.4% 16.4% 30.7%
available to Common
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Financial Statement Analyses\Income Statement - Five-Year Averages
Income Statement - (5 Year Averages): Bank of America Corporation
Figures in millions of U.S. Dollars.
Fiscal Year 2008 2007 2006 2005 2004
Net Sales or Revenues 99,945.8 87,148.8 72,599.6 59,908.0 54,449.6
Interest Income - Total 70,685.2 59,877.0 48,848.4 40,790.0 37,697.8
Interest and Fees on Loans 44,606.2 37,736.4 31,006.2 26,784.6 26,179.6
Interest Income on Federal Funds 5,182.6 4,794.6 3,424.2 2,142.4 1,610.8
Interest Income on Bank Deposits 0.0
Interest Income on Government
10,557.4 8,560.2 7,410.4 5,820.6 4,634.4
Securities
Other Interest or Dividend Income 10,339.0
Interest Expense - Total 35,901.6 29,872.6 21,546.0 16,347.8 15,733.2
Interest Expense on Bank Deposits 12,718.0
Interest Expense on Federal Funds
Interest Expense on Other Borrowed
16,553.0 14,173.2 9,759.2 6,327.6 5,301.6
Funds
Interest Expense on Debt 6,630.6 5,049.8 3,669.0 3,021.2 3,129.6
Interest Capitalized 0.0 0.0 0.0 0.0 0.0
Net Interest Income 34,783.6 30,004.4 27,302.4 24,442.2 21,964.6
Non-Interest Income 29,260.6 27,271.8 23,751.2 19,118.0 16,751.8
Investment Income
Foreign Exchange Income
Gains/Losses on Sale of Securities -
813.6 777.0 867.0 1,050.6 838.8
Pretax
Non-Operating Interest Income
Trading Account Income -1,039.0 225.0 1,406.8 1,142.0 1,164.2
Trusts & Fiduciary Income/Commission
25,604.8 21,983.2 18,223.4 14,150.6 11,897.8
& Fees
Trust Income 0.0
Commission & Fees 25,604.8 21,983.2 18,223.4 14,150.6 11,897.8
Other Operating Income 3,881.2 4,286.6 3,254.0 2,774.8 2,851.0
Non-Interest Expense 33,332.8 29,195.4 25,537.0 22,362.6 20,325.4
Staff Costs 16,772.4 15,187.4 13,347.6 11,641.2 10,510.4
Equipment Expense 3,109.4 2,783.8 2,535.2 2,334.0 2,155.4
Depreciation and Depletion 1,139.6 1,020.6 964.2 912.2 904.4
Taxes Other than Income Taxes
Operating Provisions
Other Operating Expenses 12,311.4 10,203.6 8,690.0 7,475.2 6,755.2
Provision for Loan Losses 9,400.6 4,603.4 3,665.8 3,442.2 3,146.4
Operating Income 21,310.8 23,477.4 21,850.8 17,755.4 15,244.6
Extraordinary Credit - Pretax 0.0 0.0 0.0 0.0 0.0
Extraordinary Charge - Pretax 860.8 585.6 545.6 821.4 849.0
Other Income/Expense - Net 155.2 0.0 0.0 0.0 0.0
Pretax Equity in Earnings
Reserves - Increase/Decrease 0.0 0.0 0.0 0.0 0.0
Earnings before Interest, Taxes,
28,375.4 28,962.2 25,938.4 20,867.4 18,429.6
Depreciation & Amortization (EBITDA)
Earnings before Interest & Taxes
27,235.8 27,941.6 24,974.2 19,955.2 17,525.2
(EBIT)
Pretax Income 20,605.2 22,891.8 21,305.2 16,934.0 14,395.6
Income Taxes 6,459.0 7,385.2 6,945.2 5,442.2 4,693.4
Minority Interest 0.0 0.0 0.0 0.0 0.0
Equity in Earnings
After Tax Other Income/Expense 0.0 0.0 0.0 0.0 0.0
Discontinued Operations 0.0 0.0 0.0 0.0 0.0
Net Income before Extraordinary
14,146.2 15,506.6 14,360.0 11,491.8 9,702.2
Items/Preferred Dividends
Extraordinary Items & Gain/Loss Sale
0.0 0.0 0.0 0.0 0.0
of Assets
Preferred Dividend Requirements 338.0 48.4 13.0 9.6 7.2
 Net Income after Preferred Dividends -
13,808.2 15,458.2 14,347.0 11,482.2 9,695.0
available to Common
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Financial Statement Analyses\Sources of Capital - Net Change
Sources of Capital: Bank of America Corporation
Currency figures are in millions of U.S. Dollars.
Year to year % changes pertain to reported Balance Sheet values.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 12/31/2008 12/31/2007 12/31/2006 12/31/2005 12/31/2004
Total Capital 402,462.0 313,876.0 264,078.0 191,193.0 188,212.0
Percent of Total
Capital
Short Term Debt 101.3% 141.1% 142.4% 192.5% 110.4%
Long Term Debt 56.0% 53.2% 48.8% 46.9% 47.1%
Other Liabilities 31.0% 49.0% 47.8% 51.2% 50.9%
Total Liabilities 407.7% 499.9% 501.5% 622.5% 537.1%
Minority Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Preferred Stock 9.8% 1.4% 1.1% 0.1% 0.1%
Retained Earnings 18.3% 25.9% 29.9% 35.3% 30.8%
Common Equity 34.2% 45.4% 50.1% 53.0% 52.8%
Total Capital 100.0% 100.0% 100.0% 100.0% 100.0%
Year to Year Net
Changes
Short Term Debt -3,542.3 6,693.8 790.9 16,026.2 7,513.3
Long Term Debt 5,833.7 3,826.7 3,914.6 109.3 2,541.7
Other Liabilities -2,878.6 2,759.3 2,831.3 200.3 1,734.0
Total Liabilities 7,194.8 24,447.8 13,419.5 17,945.8 32,234.7
Minority Interest 0.0 0.0 0.0 0.0 0.0
Preferred Stock 3,485.2 155.8 258.0 0.0 21.7
Retained Earnings -757.0 236.9 1,147.2 954.6 779.3
Common Equity -460.3 997.3 3,115.9 188.8 5,144.8
Total Capital 8,858.6 4,979.8 7,288.5 298.1 7,708.2
Year to Year Percent
Changes
 Short Term Debt -8.0% 17.8% 2.1% 77.1% 56.6%
Long Term Debt 34.9% 29.7% 43.7% 1.2% 40.2%
Other Liabilities -18.7% 21.9% 28.9% 2.1% 22.1%
Total Liabilities 4.6% 18.5% 11.3% 17.8% 46.8%
Minority Interest
Preferred Stock 790.5% 54.6% 952.0% 0.0% 401.9%
Retained Earnings -9.3% 3.0% 17.0% 16.5% 15.5%
Common Equity -3.2% 7.5% 30.8% 1.9% 107.3%
Total Capital 28.2% 18.9% 38.1% 1.6% 69.4%
Total Liabilities &
Common Equity
Total Liabilities 1,640,891.0 1,568,943.0 1,324,465.0 1,190,270.0 1,010,812.0
Net Change in
Liabilities as 4.4% 15.6% 10.1% 15.1% 31.9%
% of Total Liabilities
Common Equity 137,791.0 142,394.0 132,421.0 101,262.0 99,374.0
Net Change in
Common Equity as -3.3% 7.0% 23.5% 1.9% 51.8%
% of Common Equity
Cash Flow
Operating Activities 4,034.0 11,036.0 14,509.0 -12,223.0 -3,955.0
Financing Activities -10,695.0 103,412.0 53,133.0 170,817.0 132,875.0
Investing Activities 2,930.0 108,480.0 68,304.0 150,445.0 127,132.0
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photocopying, recording, or otherwise without prior written permission. Information is believed reliable, but accuracy, completeness and opinions are not
Financial Ratio AnalysesFinancial Ratio Analyses\Employee Efficiency
Employee Efficiency: Bank of America Corporation
Values per Employee are in U.S. Dollars.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 12/31/2008 12/31/2007 12/31/2006 12/31/2005 12/31/2004
Employees 243,000 210,000 203,425 176,638 175,742
Values per Employee
Sales 464,984 567,571 573,056 481,572 375,038
Net Income 10,519 70,476 103,778 93,111 80,385
Cash Earnings 149,313 146,710 153,890 129,406 91,173
Working Capital
Total Debt 2,604,716 2,904,914 2,481,637 2,591,583 1,686,660
Total Capital 1,656,222 1,494,648 1,298,159 1,082,400 1,070,956
Total Assets 7,481,247 8,170,219 7,175,799 7,313,279 6,318,677
Year to Year % Change
per Employee
Employees 15.7% 3.2% 15.2% 0.5% 31.6%
Sales -18.1% -1.0% 19.0% 28.4% 2.2%
Net Income -85.1% -32.1% 11.5% 15.8% -0.7%
Cash Earnings 1.8% -4.7% 18.9% 41.9% -10.2%
Working Capital
Total Debt -10.3% 17.1% -4.2% 53.7% 15.0%
Total Capital 10.8% 15.1% 19.9% 1.1% 28.7%
Total Assets -8.4% 13.9% -1.9% 15.7% 14.6%
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Financial Ratio Analyses\Fixed Charges Coverage
Fixed Charges Coverage: Bank of America Corporation
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 12/31/2008 12/31/2007 12/31/2006 12/31/2005 12/31/2004
EBIT/Total Interest
1.4 3.2 5.5 6.5 9.8
Expense
EBIT/Net Interest 1.4 3.2 5.5 6.5 9.8
EBIT/(Total Interest Exp +
1.4 3.2 5.5 6.5 9.8
Pfd Div)
EBIT/Dividends on
1.2 2.8 4.0 3.8 3.7
Common Shares
EBIT/(Dividends on
1.2 2.8 4.0 3.8 3.7
Common + Pfd)
EBITDA/Total Interest
1.6 3.4 5.7 6.8 10.2
Expense
EBITDA/Net Interest 1.6 3.4 5.7 6.8 10.2
EBITDA/(Total Interest
1.6 3.3 5.7 6.8 10.2
Exp + Pfd Div)
EBITDA/Dividends on
1.4 2.9 4.2 3.9 3.8
Com Shares
EBITDA/(Dividends on
1.4 2.9 4.2 3.9 3.8
Com + Pfd)
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Financial Ratio Analyses\Leverage Analysis
Leverage Analysis: Bank of America Corporation
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 12/31/2008 12/31/2007 12/31/2006 12/31/2005 12/31/2004
Long Term Debt % of
1,569.1% 551.7% 330.2% 310.3% 374.9%
EBIT
Long Term Debt % of
1,422.1% 531.2% 321.0% 300.3% 360.1%
EBITDA
Long Term Debt % of
12.4% 9.7% 8.8% 6.9% 8.0%
Total Assets
Long Term Debt % of
56.0% 53.2% 48.8% 46.9% 47.1%
Total Capital
Long Term Debt % of Com
163.6% 117.3% 97.3% 88.5% 89.1%
Equity
Total Debt % of EBIT 4,405.9% 2,014.4% 1,294.2% 1,584.1% 1,254.7%
Total Debt % of EBITDA 3,993.1% 1,939.6% 1,258.3% 1,533.2% 1,205.1%
Total Debt % of Total
34.8% 35.6% 34.6% 35.4% 26.7%
Assets
Total Debt % of Total
157.3% 194.4% 191.2% 239.4% 157.5%
Capital
Total Debt % of Total
78.1% 80.6% 78.9% 81.8% 74.8%
Capital & Short Term Debt
Total Debt % of Common
459.4% 428.4% 381.2% 452.1% 298.3%
Equity
Minority Interest % of EBIT 0.0% 0.0% 0.0% 0.0% 0.0%
Minority Interest % of
0.0% 0.0% 0.0% 0.0% 0.0%
EBITDA
Minority Interest % of
0.0% 0.0% 0.0% 0.0% 0.0%
Total Assets
Minority Interest % of
0.0% 0.0% 0.0% 0.0% 0.0%
Total Capital
Minority Interest % of Com
0.0% 0.0% 0.0% 0.0% 0.0%
Equity
Preferred Stock % of EBIT 273.3% 14.6% 7.3% 0.9% 1.1%
 Preferred Stock % of
247.7% 14.0% 7.1% 0.9% 1.1%
EDITDA
Preferred Stock % of Total
2.2% 0.3% 0.2% 0.0% 0.0%
Assets
Preferred Stock % of Total
9.8% 1.4% 1.1% 0.1% 0.1%
Capital
Preferred Stock % of Total
28.5% 3.1% 2.2% 0.3% 0.3%
Equity
Common Equity % of Total
7.6% 8.3% 9.1% 7.8% 8.9%
Assets
Common Equity % of Total
34.2% 45.4% 50.1% 53.0% 52.8%
Capital
Total Capital % of Total
22.1% 18.3% 18.1% 14.8% 16.9%
Assets
Capital Expenditure % of
Sales
Fixed Assets % of
9.6% 7.9% 7.0% 7.7% 7.6%
Common Equity
Working Capital % of
Total Capital
Dividend Payout 72.3% 45.7% 46.7% 45.7%
Funds From Operations %
5.7% 5.1% 6.2% 5.0% 5.4%
of Total Debt
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Financial Ratio Analyses\Per-Share Ratios
Per Share Data: Bank of America Corporation
Figures are expressed as per unit of respective shares.
Figures are in U.S. Dollars.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 12/31/2008 12/31/2007 12/31/2006 12/31/2005 12/31/2004
Sales 22.52 26.86 26.15 21.27 16.29
Operating Income 1.05 4.81 7.35 6.22 5.51
Pre-tax Income 0.88 4.71 7.17 6.12 5.24
Net Income (Continuing
Operations)
Net Income Before Extra
0.80 3.38 4.74 4.12 3.50
Items
Extraordinary Items 0.00 0.00 0.00 0.00 0.00
Net Income After
0.80 3.38 4.74 4.12 3.50
Extraordinary Items
Net Income Available to
0.55 3.30 4.59 4.04 3.69
Common Shares
Fully Diluted Earnings 0.55 3.30 4.59 4.04 3.69
Common Dividends 2.24 2.40 2.12 1.90 1.70
Cash Earnings 7.86 6.88 6.81 5.62 4.19
Book Value 27.46 31.69 29.70 25.32 24.62
Retained Earnings 14.71 18.34 17.73 16.89 14.33
Assets 362.33 386.61 327.43 322.98 274.42
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Financial Ratio Analyses\Profitability Growth
Profitability Analysis: Bank of America Corporation
Currency figures are in U.S. Dollars.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year
12/31/2008 12/31/2007 12/31/2006 12/31/2005 12/31/2004
End Date
Gross Income
Margin
Operating
Income 4.6% 17.9% 28.1% 29.3% 33.8%
Margin
Pretax
Income 3.9% 17.6% 27.4% 28.8% 32.2%
Margin
EBIT Margin 12.7% 25.4% 33.5% 34.0% 35.8%
Net Income
3.5% 12.6% 18.1% 19.4% 21.5%
Margin
Return on
1.8% 10.8% 18.1% 16.3% 19.2%
Equity - Total
Return on
Invested 1.3% 3.0% 4.3% 4.0% 4.9%
Capital
Return on
0.6% 1.3% 1.9% 1.6% 1.7%
Assets
Asset
0.1 0.1 0.1 0.1 0.1
Turnover
Financial
459.4% 428.4% 381.2% 452.1% 298.3%
Leverage
Interest
Expense on 9,938,000,000 9,359,000,000 7,034,000,000 4,418,000,000 2,404,000,000
Debt
Effective Tax
9.5% 28.4% 33.9% 32.7% 33.4%
Rate
Cash Flow %
32.1% 25.8% 26.9% 26.9% 24.3%
Sales
Selling,
General &
 Administrative
Expenses %
of Sales
Research &
Development
Expense
Operating
Income
28.2% 18.9% 38.1% 1.6% 69.4%
Return On
Total Capital
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Wright Quality Rating AnalysesWright Quality Rating Analyses\Investment Acceptance
Wright Quality Rating - Investment Acceptance: Bank of America
Corporation
Currency figures are in millions of U.S. Dollars.

Wright Quality Rating

ABB 4
Investment Acceptance Rating ABB 4
Total Market Value of Shares Outstanding - Three Year Average 232,790
- Current Year 90,702
Public Market Value (Excludes Closely Held) - Three Year Average 230,990
- Current Year 90,000
Trading Volume - Three Year Average 422,509
- Current Year 742,398
Turnover Rate - Three Year Average 181.5%
- Current Year 818.5%
NYSE BSE MSE
Stock Exchange Listings
PBW PCS
Number of Institutional Investors 1,759
Number of Shareholders 263,495
Closely Held Shares as % of Total Shares Outstanding 0.8%
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Wright Quality Rating Analyses\Financial Strength
Wright Quality Rating - Financial Strength: Bank of America Corporation
Wright Quality Rating A BB 4
Financial Strength Rating A BB 4
Total Shareholders' Equity (Millions of U.S. Dollars) 166,272
Total Shareholders' Equity as % Total Capital 24.4%
Equity as % of Assets 7.2%
Adjusted Equity % Total Assets 7.7%
Total Capital as % of Deposits 71.3%
Cash & Securities / as % of Deposits 86.0%
Non Performing Loans as % of Loan Loss Reserves 56.5%
Loan Losses as % of Loans Outstanding 1.7%
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Wright Quality Rating Analyses\Profitability & Stability
Wright Quality Rating - Profitability & Stability: Bank of America Corporation
Wright Quality Rating AB B4
Profitability & Stability Rating AB B4
Profit Rate of Earnings on Equity Capital - Time-Weighted Normal 13.8%
- Basic Trend -4.0%
Cash Earnings Return on Equity - Time-Weighted Average 24.5%
- Basic Trend -0.1%
Cash Earnings Return on Equity - Stability Index 45.6%
Return On Assets (Time-Weighted Average) 1.7%
Pre-Tax Income as % of Total Assets (Time-Weighted Average) 1.5%
Operating Income as % of Total Assets (Time-Weighted Average) 2.1%
Operating Income as % of Total Capital (Adjusted Rate) 15.3%
Pre-Tax Income as % of Total Assets (Time-Weighted Average) 1.5%
Operating Income as % of Total Assets (Time-Weighted Average) 2.1%
Operating Income as % of Total Capital (Adjusted Rate) 15.3%
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Wright Quality Rating Analyses\Corporate Growth
Wright Quality Rating - Corporate Growth: Bank of America Corporation
Figures are expressed on a Per Share Basis.

Wright Quality Rating ABB 4

Growth Rating ABB 4
Normal Earnings Growth 4.0%
Cash Earnings Growth 12.5%
Cash Earnings Stability Index 93.6%
Earned Equity Growth 5.9%
Dividend Growth -0.7%
Operating Income Growth 2.0%
Assets Growth 9.1%
Sales/Revenues Growth 9.7%
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