BAC · Forward model · All Other
What has to happen in All Other
Model as of
This page changes All Other inside the complete BAC model. Every other vertical, corporate programme and valuation assumption stays in the selected portfolio case.
Shares this vertical and portfolio case. Slider and horizon edits stay in your browser.
All Other
Basis quarter−$744M
Final quarter−$822M
Final revenue mix-2%
The residual: asset and liability management results, liquidating businesses and unallocated expense. Revenue is NEGATIVE in all fifteen quarters because ALM results are substantially allocated out to the four operating segments. It is carried as a fifth line exactly as reported so the four segments are never inflated to absorb it.
Last four quarters
2025 Q3
−$698M
Reported
2025 Q4
−$829M
Reported
2026 Q1
−$723M
Reported
2026 Q2
−$744M
Reported
ALM activitiesLiquidating businessesUnallocated expense
Sequential growth
+0.5%/qtr
decaying toward +0.5%
0.5% QoQ on a negative line, so the drag grows slowly. Anchored to the tight -$698M to -$902M recent cluster.
All Other
Latest: −$822M (2031Q2E)
| Period | Value |
|---|---|
| 2022Q4 | −$1.84B |
| 2023Q1 | −$1.46B |
| 2023Q2 | −$1.77B |
| 2023Q3 | −$1.62B |
| 2023Q4 | −$3.47B |
| 2024Q1 | −$1.64B |
| 2024Q2 | −$1.75B |
| 2024Q3 | −$2.15B |
| 2024Q4 | −$953M |
| 2025Q1 | −$694M |
| 2025Q2 | −$833M |
| 2025Q3 | −$698M |
| 2025Q4 | −$829M |
| 2026Q1 | −$723M |
| 2026Q2 | −$744M |
| 2026Q3E | −$748M |
| 2026Q4E | −$751M |
| 2027Q1E | −$755M |
| 2027Q2E | −$759M |
| 2027Q3E | −$763M |
| 2027Q4E | −$767M |
| 2028Q1E | −$770M |
| 2028Q2E | −$774M |
| 2028Q3E | −$778M |
| 2028Q4E | −$782M |
| 2029Q1E | −$786M |
| 2029Q2E | −$790M |
| 2029Q3E | −$794M |
| 2029Q4E | −$798M |
| 2030Q1E | −$802M |
| 2030Q2E | −$806M |
| 2030Q3E | −$810M |
| 2030Q4E | −$814M |
| 2031Q1E | −$818M |
| 2031Q2E | −$822M |
Assumptions & reasoning
- Revenue is negative in every one of the fifteen quarters, from -$698M to -$3,468M. That is how BAC reports it: ALM results are allocated OUT to the segments, so what remains here is a residual.
- The 121.2% margin is pre-tax income of -$902M over revenue of -$744M. Both are negative, so the ratio is positive and the product stays a loss of about $900M a quarter, which is the intended behaviour.
- 2023 Q4 is the outlier at -$3,468M of revenue and -$6,043M of pre-tax, from the FDIC special assessment and the BSBY cessation charge. It is left in history as reported and is not used to set the run rate.
- capexIntensity is exactly 0 here and nowhere else. A positive intensity on negative revenue would produce a negative capex, which the engine would add to free cash flow as a phantom inflow.
- Scenario growth and margin deltas are cancelled on this line by an equal and opposite vertical delta, because a group-wide margin cut applied to a negative-revenue residual would make the loss smaller, not larger.