Analysis: Deferred Assets and Liabilities, Net

Entity Registrant Name BANK OF AMERICA CORP /DE/
CIK 0000070858
Accession number 0000070858-14-000012
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/70858/000007085814000012/bac-20131231.xml
Fiscal year end --12-31
Fiscal year focus 2013
Fiscal period focus FY
Current balance sheet date 2013-12-31
Current year-to-date income statement start date 2013-01-01
Commentary Conforms with all rules.
Level 3 Text Block concept us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Significant components of the Corporation’s net deferred tax assets and liabilities at December 31, 2013 and 2012 are presented in the table below.
 
 
 
 
Deferred Tax Assets and Liabilities
 
 
 
 
 
 
 
 
December 31
(Dollars in millions)
2013
 
2012
Deferred tax assets
 

 
 

Net operating loss carryforwards
$
10,967

 
$
13,863

Tax credit carryforwards
9,689

 
9,529

Accrued expenses
6,749

 
8,099

Allowance for credit losses
6,100

 
8,463

Security, loan and debt valuations
4,264

 
2,712

Employee compensation and retirement benefits
2,729

 
4,612

State income taxes
2,643

 
2,766

Available-for-sale securities
1,918

 
—

Other
722

 
725

Gross deferred tax assets
45,781

 
50,769

Valuation allowance
(1,940
)
 
(2,211
)
Total deferred tax assets, net of valuation allowance
43,841

 
48,558

 
 
 
 
Deferred tax liabilities
 

 
 

Equipment lease financing
3,106

 
3,371

Long-term borrowings
3,033

 
3,215

Mortgage servicing rights
1,547

 
1,986

Intangibles
1,529

 
1,708

Fee income
798

 
901

Available-for-sale securities
—

 
2,877

Other
1,472

 
1,462

Gross deferred tax liabilities
11,485

 
15,520

Net deferred tax assets
$
32,356

 
$
33,038

Level 4 Details Key Concepts: Deferred tax assets (liabilities)

Description Fact value US GAAP XBRL Concept
Deferred tax assets, gross 45,781,000,000 us-gaap:DeferredTaxAssetsGross
Valuation allowance -1,940,000,000 us-gaap:DeferredTaxAssetsValuationAllowance
Deferred tax assets, net 43,841,000,000 us-gaap:DeferredTaxAssetsNet
Deferred tax liabilities -11,485,000,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net 32,356,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

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(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets, net, current 0
Deferred tax assets, net, noncurrent 0
Deferred tax liabilities, net, current 0
Deferred tax liabilities, net, noncurrent 0 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net 32,356,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

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(Unclassified balance sheet) Deferred tax assets (liabilities), net components asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets 43,841,000,000
Deferred tax liabilities, net -11,485,000,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net 32,356,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

*

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