What is the primary purpose of this 8-K filing?

The primary purpose of this filing is to inform investors about a change in Bank of America's business segment reporting structure, effective January 1, 2012. This impacts how the company presents its results for internal management and external reporting purposes.

How will this change in segment reporting affect the company's overall financial performance?

According to the filing, the revised business segment reporting methodology does not change the Corporation's consolidated financial statements, including the consolidated balance sheet, statements of income, changes in shareholders' equity, and cash flows. It is purely a change in presentation for segment-specific disclosures.

Which previous business segments were consolidated or reorganized into the new structure?

The former six segments (Deposits, Card Services, CRES, Global Commercial Banking, GBAM, and All Other) have been reorganized. Deposits and Card Services are now part of Consumer & Business Banking (CBB). Global Commercial Banking was combined with parts of Global Banking & Markets (GBAM) to create Global Banking. The remaining global markets operations from GBAM are now a separate Global Markets segment.

Does this filing include updated financial results beyond December 31, 2011?

No, the information presented in this Current Report on Form 8-K is as of December 31, 2011, and it has not been updated to reflect financial results or changes subsequent to the date of the Annual Report, other than related to the segment presentation methodology.

BANK OF AMERICA CORP /DE/ 8-K SEC Disclosure

Summary

Bank of America Corporation (BAC) has filed an 8-K to report a change in its business segment reporting methodology, effective January 1, 2012. This restructuring consolidates previous segments into five new ones: Consumer & Business Banking (CBB), Consumer Real Estate Services (CRES), Global Banking, Global Markets, and Global Wealth & Investment Management (GWIM), with remaining operations in 'All Other'. Notably, the former Deposits and Card Services segments are now part of CBB, and Global Commercial Banking has been integrated into the new Global Banking segment alongside a portion of the former Global Banking & Markets (GBAM).

Key Highlights

1Effective January 1, 2012, Bank of America changed its business segment reporting from six to five segments.
2The new segments are Consumer & Business Banking (CBB), Consumer Real Estate Services (CRES), Global Banking, Global Markets, and Global Wealth & Investment Management (GWIM).
3The former Deposits and Card Services segments have been combined into the new CBB segment.
4Global Commercial Banking has been merged with parts of the former Global Banking & Markets (GBAM) to form the new Global Banking segment.
5The remaining global markets business from GBAM now constitutes a separate Global Markets segment.
6Prior period results have been reclassified to align with the new segment presentation.
7This change in presentation methodology does not impact the consolidated financial statements (balance sheet, income statement, etc.).

BANK OF AMERICA CORP /DE/ 8-K Report, Corporate Update (May 4, 2012)

Summary

Key Highlights

Frequently Asked Questions