The following consolidating schedules show the contribution of our businesses to our overall profitability.

For the quarter ended June 30, 2012

(dollar amounts in millions)

Investment
Management

Investment
Services

Other

Consolidated

Fee and other revenue

861

(a)

1,881

112

2,854

(a)

Net interest revenue

607

734

Total revenue

913

2,488

187

3,588

Provision for credit losses

(14

)

(19

)

Noninterest expense

690

2,146

211

3,047

Income (loss) before taxes

223

(a)

356

(19

)

560

(a)

Pre-tax operating margin (b)

N/M

Average assets

35,970

209,454

59,578

305,002

(a)

Total fee and other revenue includes income from consolidated investment management funds of $57 million, net of noncontrolling interests of $29 million, for a net impact of $28 million. Income before taxes includes noncontrolling interests of $29 million.

(b)

Income before taxes divided by total revenue.

N/M

– Not meaningful.


For the quarter ended March 31, 2012 (dollar amounts in millions)	Investment Management			Investment Services			Other			Consolidated
Fee and other revenue	$	852	(a)	$	1,852		$	166		$	2,870	(a)
Net interest revenue		55			642			68			765
Total revenue		907			2,494			234			3,635
Provision for credit losses		-			16			(11	)		5
Noninterest expense		667			1,827			262			2,756
Income (loss) before taxes	$	240	(a)	$	651		$	(17	)	$	874	(a)
Pre-tax operating margin (b)		26	%		26	%		N/M			24	%
Average assets	$	36,475		$	214,135		$	50,734		$	301,344

(a)

Total fee and other revenue includes income from consolidated investment management funds of $43 million, net of noncontrolling interests of $11 million, for a net impact of $32 million. Income before taxes includes noncontrolling interests of $11 million.

(b)

Income before taxes divided by total revenue.

N/M

– Not meaningful.


For the quarter ended June 30, 2011 (dollar amounts in millions)	Investment Management			Investment Services			Other			Consolidated
Fee and other revenue	$	862	(a)	$	1,967		$	269		$	3,098	(a)
Net interest revenue		48			649			34			731
Total revenue		910			2,616			303			3,829
Provision for credit losses		1			-			(1	)		-
Noninterest expense		694			1,827			295			2,816
Income (loss) before taxes	$	215	(a)	$	789		$	9		$	1,013	(a)
Pre-tax operating margin (b)		24	%		30	%		N/M			26	%
Average assets	$	36,741		$	191,756		$	49,983		$	278,480

(a)

Total fee and other revenue includes income from consolidated investment management funds of $63 million, net of noncontrolling interests of $21 million, for a net impact of $42 million. Income before taxes includes noncontrolling interests of $21 million.

(b)

Income before taxes divided by total revenue.

N/M – Not meaningful.

For the six months ended June 30, 2012

(dollar amounts in millions)

Investment
Management

Investment
Services

Other

Consolidated

Fee and other revenue

1,713

(a)

3,733

278

5,724

(a)

Net interest revenue

107

1,249

143

1,499

Total revenue

1,820

4,982

421

7,223

Provision for credit losses

(16

)

(14

)

Noninterest expense

1,357

3,973

473

5,803

Income (loss) before taxes

463

(a)

1,007

(36

)

1,434

(a)

Pre-tax operating margin (b)

N/M

Average assets

36,222

211,795

55,155

303,172

(a)

Total fee and other revenue includes income from consolidated investment management funds of $100 million, net of noncontrolling interests of $40 million, for a net impact of $60 million. Income before taxes includes noncontrolling interests of $40 million.

(b)

Income before taxes divided by total revenue.

N/M – Not meaningful.


For the six months ended June 30, 2011 (dollar amounts in millions)	Investment Management			Investment Services			Other			Consolidated
Fee and other revenue	$	1,730	(a)	$	3,856		$	416		$	6,002	(a)
Net interest revenue		100			1,270			59			1,429
Total revenue		1,830			5,126			475			7,431
Provision for credit losses		1			-			(1	)		-
Noninterest expense		1,376			3,579			558			5,513
Income (loss) before taxes	$	453	(a)	$	1,547		$	(82	)	$	1,918	(a)
Pre-tax operating margin (b)		25	%		30	%		N/M			26	%
Average assets	$	37,027		$	184,002		$	47,118		$	268,147

(a)

Total fee and other revenue includes income from consolidated investment management funds of $173 million, net of noncontrolling interests of $65 million, for a net impact of $108 million. Income before taxes includes noncontrolling interests of $65 million.

(b)

Income before taxes divided by total revenue.

N/M – Not meaningful.