CHARLOTTE, N.C. -- Bank of America Corp.'s Ken Lewis received compensation valued at more than $20.4 million in 2007, about 10.7 percent less than a year earlier, as mortgage-related losses eroded profits at the nation's second-largest bank.

The chairman and CEO's 2007 compensation included $1.5 million in salary and $4.25 million from the company's non-equity incentive plan, according to an analysis of a regulatory filing made Wednesday.

He also received $212,211 in other compensation, including $127,643 for use of corporate aircraft, $16,740 for tax preparation and $16,333 for home security and secured parking, according to the company's filing with the Securities and Exchange Commission.

Lewis, 60, also became vested in 263,770 shares in stock valued by the company at more than $14.1 million.

The Associated Press calculations of total pay include executives' salary, bonuses, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the value of pension benefits, and they can differ from the totals companies list in the summary compensation table of proxy statements.

The bulk of Lewis' compensation was in stock and option awards that were valued at $14.44 million when granted in February 2007. The Charlotte-based company said those grants were intended to be for performance in 2006.

For his work in 2007, the bank said last month that Lewis would receive restricted stock of just $4.3 million -- a drop of more than 60 percent -- and 333,333 options, down from 400,000.

Bank of America's profits fell about 30 percent last year to $15 billion, partly because of losses tied to mortgage-related investments. Lewis called the market environment the "toughest" since he took over the company in April 2001.

The bank said its compensation and benefits committee concluded that Bank of America's 2007 performance "significantly missed" internal goals, especially in corporate and investment banking.

In 2006, Lewis received the same salary in a compensation package valued at $22.85 million, including $6.5 million in non-equity incentive plan compensation, and more than $14.6 million in stock and option awards.

Shares of the Charlotte-based bank were up 24 cents to $39.17 in afternoon trading.