Lines of Businesses (Tables)

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Contribution of Segments to Overall Profitability

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

For the quarter ended March 31, 2015 (dollar amounts in millions)	Investment Management				Investment Services			Other		Consolidated
Fee and other revenue	$	936		(a)	$	1,993		$	104	$	3,033		(a)
Net interest revenue	74				600			54		728
Total revenue	1,010			(a)	2,593			158		3,761			(a)
Provision for credit losses	—				—			2		2
Noninterest expense	746				1,838			116		2,700
Income before taxes	$	264		(a)	$	755		$	40	$	1,059		(a)
Pre-tax operating margin (b)	26		%		29		%	N/M		28		%
Average assets	$	37,496			$	284,978		$	52,416	$	374,890

(a) Both total fee and other revenue and total revenue include the net income from consolidated investment management funds of $31 million, representing $121 million of income and noncontrolling interests of $90 million. Income before taxes is net of noncontrolling interests of $90 million.

(b) Income before taxes divided by total revenue.

N/M - Not meaningful.

For the quarter ended Dec. 31, 2014 (dollar amounts in millions)	Investment Management				Investment Services			Other			Consolidated
Fee and other revenue	$	929		(a)	$	1,907		$	117		$	2,953		(a)
Net interest revenue	69				574			69			712
Total revenue	998			(a)	2,481			186			3,665			(a)
Provision for credit losses	—				—			1			1
Noninterest expense	759				2,555			210			3,524
Income (loss) before taxes	$	239		(a)	$	(74	)	$	(25	)	$	140		(a)
Pre-tax operating margin (b)	24		%		(3		)%	N/M			4		%
Average assets	$	37,286			$	276,586		$	71,360		$	385,232

(a) Both total fee and other revenue and total revenue include the net income from consolidated investment management funds of $18 million, representing $42 million of income and noncontrolling interests of $24 million. Income before taxes is net of noncontrolling interests of $24 million.

(b) Income before taxes divided by total revenue.

N/M - Not meaningful.

For the quarter ended March 31, 2014 (dollar amounts in millions)	Investment Management				Investment Services			Other			Consolidated
Fee and other revenue	$	900		(a)	$	1,887		$	112		$	2,899		(a)
Net interest revenue	70				590			68			728
Total revenue	970			(a)	2,477			180			3,627			(a)
Provision for credit losses	—				—			(18		)	(18		)
Noninterest expense	724				1,822			193			2,739
Income before taxes	$	246		(a)	$	655		$	5		$	906		(a)
Pre-tax operating margin (b)	25		%		26		%	N/M			25		%
Average assets	$	39,463			$	258,470		$	57,059		$	354,992

(a) Both total fee and other revenue and total revenue include the net income from consolidated investment management funds of $16 million, representing $36 million of income and noncontrolling interests of $20 million. Income before taxes is net of noncontrolling interests of $20 million.

(b) Income before taxes divided by total revenue.