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	5	+= Business Overview =
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	7	+Bank of America Corporation (BAC) and its subsidiaries, or certain of Bank of America Corporation’s subsidiaries or affiliates. The company's principal executive offices are located in Charlotte, North Carolina. Through its banking and various nonbank subsidiaries throughout the U.S. and in international markets, the company provide a diversified range of banking and nonbank financial services and products through four business segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking and Global Markets, with the remaining operations recorded in All Other. The company operate its banking activities primarily under the Bank of America, National Association (Bank of America, N.A. or BANA) charter. At March 31, 2018, the Corporation had approximately $2.3 trillion in assets and a headcount of approximately 208,000 employees. Headcount has remained relatively unchanged since December 31, 2017.
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9		-==== Business Overview ====
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11		-The Corporation is a Delaware corporation, a bank holding company (BHC) and a financial holding company. When used in this report, “the Corporation” may refer to Bank of America Corporation individually, Bank of America Corporation and its subsidiaries, or certain of Bank of America Corporation’s subsidiaries or affiliates. The company's principal executive offices are located in Charlotte, North Carolina. Through its banking and various nonbank subsidiaries throughout the U.S. and in international markets, the company provide a diversified range of banking and nonbank financial services and products through four business segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking and Global Markets, with the remaining operations recorded in All Other. The company operate its banking activities primarily under the Bank of America, National Association (Bank of America, N.A. or BANA) charter. At March 31, 2018, the Corporation had approximately $2.3 trillion in assets and a headcount of approximately 208,000 employees. Headcount has remained relatively unchanged since December 31, 2017.
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13	13	As of March 31, 2018, the company served clients through operations across the United States, its territories and more than 35 countries. The company's retail banking footprint covers approximately 85 percent of the U.S. population, and the company serve approximately 47 million consumer and small business relationships with approximately 4,400 retail financial centers, approximately 16,000 ATMs, and leading digital banking platforms (www.bankofamerica.com) with approximately 36 million active users, including approximately 25 million active mobile users. The company offer industry-leading support to approximately three million small business owners. The company's wealth management businesses, with client balances of over $2.7 trillion, provide tailored solutions to meet client needs through a full set of investment management, brokerage, banking, trust and retirement products. Bank of America is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world.
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15	15	**First Quarter 2018 Economic and Business Environment**
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33	33	Supported by a very accommodative monetary policy stance and sustained growth in external demand, the Japanese economy has continued to expand with headline inflation reaching its highest level since 2015. Across emerging nations, economic activity was supported by China’s continued transition towards a more consumption-based growth model.
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35		-**Capital Management**
	31	+== **Capital Management** ==
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37	37	During the first quarter of 2018, the company repurchased approximately $4.9 billion of common stock pursuant to the Board of Directors’ (the Board) June 2017 repurchase authorization under its 2017 Comprehensive Capital Analysis and Review (CCAR) capital plan, including repurchases to offset equity-based compensation awards, and an additional share repurchase authorization in December 2017. For more information, see Capital Management on page 18.
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39		-**Trust Preferred Securities Redemption**
	35	+== **Trust Preferred Securities Redemption** ==
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41	41	On April 30, 2018, the Corporation announced that it has submitted redemption notices for 11 series of trust preferred securities, which will result in the redemption of such trust preferred securities, along with the trust common securities (held by the Corporation or its affiliates), on June 6, 2018. The Corporation has received all necessary approvals for these redemptions. Upon the redemption of the trust preferred securities and the extinguishment of the related junior subordinated notes issued by the Corporation, expected to occur in the second quarter of 2018, the Corporation will record a charge to other income and pretax income estimated to be approximately $800 million, subject to certain redemption price calculations at that time. For additional information, see the Corporation’s Current Report on Form 8-K filed on April 30, 2018.