Bank of America 8-K 2012
Documents found in this filing:
As filed with the Securities and Exchange Commission on May 4, 2012
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
May 4, 2012
BANK OF AMERICA CORPORATION
(Exact name of registrant as specified in its charter)
100 North Tryon Street
Charlotte, North Carolina 28255
(Address of principal executive offices)
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
ITEM 8.01. OTHER EVENTS.
From time to time, including in its Annual Report on Form 10-K for the year ended December 31, 2011 (the Annual Report), Bank of America Corporation and its subsidiaries (the Corporation) have indicated that the Corporation may reclassify its business segment results based on, among other things, changes in its organizational alignment. In the Annual Report, the Corporation reported its results of operations through six business segments: Deposits, Card Services, Consumer Real Estate Services (CRES), Global Commercial Banking, Global Banking & Markets (GBAM) and Global Wealth & Investment Management (GWIM), with the remaining operations recorded in All Other. Effective January 1, 2012, consistent with the presentation used in the Corporation's Form 10-Q for the quarterly period ended March 31, 2012, the Corporation changed its basis of presentation from six to five segments: Consumer & Business Banking (CBB), CRES, Global Banking, Global Markets and GWIM, with the remaining operations recorded in All Other. The former Deposits and Card Services segments, as well as Business Banking, which was included in the former Global Commercial Banking segment, are now reflected in CBB. The former Global Commercial Banking segment was combined with the Global Corporate and Investment Banking business, which was included in the former Global Banking & Markets (GBAM) segment, to form Global Banking. The remaining global markets business of GBAM is now reported as a separate Global Markets segment. In addition, certain management accounting methodologies and related allocations were refined. Prior period results have been reclassified to conform to current period presentation.
This Current Report on Form 8-K and the exhibits hereto update the business segment information presented in the Annual Report only to the extent this information is impacted by the revised business segment reporting methodology. Portions of the following items from the Annual Report have been updated to reflect the revised business segment methodology:
All updates to the Annual Report relate solely to the presentation of segment specific disclosures on a basis consistent with how management currently evaluates the results of the segments. The revised reporting structure did not impact the consolidated balance sheet or the consolidated statements of income, changes in shareholders’ equity and cash flows. The information in this Current Report on Form 8-K is presented as of December 31, 2011 and other than as indicated above, has not been updated to reflect financial results subsequent to that date or any other changes since the date of the Annual Report.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: May 4, 2012
INDEX TO EXHIBITS