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Lines of business - Contribution of Segments to Overall Profitability (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Segment Reporting Information [Line Items]          
Total fee and other revenue $ 3,176 $ 3,332 $ 3,112 $ 6,508 $ 6,144
Net interest revenue (expense) 780 814 802 1,594 1,643
Provision for credit losses 143 169 (8) 312 [1] (1) [1]
Income from consolidated investment management funds, net of noncontrolling interests 950 980 1,017 1,930 1,963
Investment income (loss), net 54 (38) 10 16 36
Net income (loss) attributable to noncontrolling interests 15 (18) 4 (3) 14
Operating segments          
Segment Reporting Information [Line Items]          
Total fee and other revenue 3,215 3,312 3,118 6,527 6,166
Net interest revenue (expense) 780 814 802 1,594 1,643
Total revenue 3,995 4,126 3,920 8,121 7,809
Provision for credit losses 143 169 (8) 312 (1)
Noninterest expense 2,686 2,712 2,647 5,398 5,346
Income (loss) before taxes $ 1,166 $ 1,245 $ 1,281 $ 2,411 $ 2,464
Pre-tax operating margin 29.00% 30.00% 33.00% 30.00% 32.00%
Average assets $ 415,359 $ 385,278 $ 342,384 $ 400,318 $ 339,292
Operating segments | Investment Services          
Segment Reporting Information [Line Items]          
Total fee and other revenue 2,339 2,436 2,233 4,775 4,394
Net interest revenue (expense) 768 806 783 1,574 1,587
Total revenue 3,107 3,242 3,016 6,349 5,981
Provision for credit losses 145 149 (4) 294 4
Noninterest expense 1,989 1,987 1,963 3,976 3,944
Income (loss) before taxes $ 973 $ 1,106 $ 1,057 $ 2,079 $ 2,033
Pre-tax operating margin 31.00% 34.00% 35.00% 33.00% 34.00%
Average assets $ 335,288 $ 304,089 $ 264,781 $ 319,689 $ 260,432
Operating segments | Investment and Wealth Management          
Segment Reporting Information [Line Items]          
Total fee and other revenue 838 846 854 1,684 1,723
Net interest revenue (expense) 48 52 59 100 126
Total revenue 886 898 913 1,784 1,849
Provision for credit losses 7 9 (2) 16 (1)
Noninterest expense 658 695 655 1,353 1,324
Income (loss) before taxes $ 221 $ 194 $ 260 $ 415 $ 526
Pre-tax operating margin 25.00% 22.00% 29.00% 23.00% 28.00%
Average assets $ 30,327 $ 30,543 $ 29,793 $ 30,435 $ 30,819
Income from consolidated investment management funds, net of noncontrolling interests 39 (20) 6 19 22
Investment income (loss), net 54 (38) 10 16 36
Net income (loss) attributable to noncontrolling interests 15 (18) 4 (3) 14
Operating segments | Other          
Segment Reporting Information [Line Items]          
Total fee and other revenue 38 30 31 68 49
Net interest revenue (expense) (36) (44) (40) (80) (70)
Total revenue 2 (14) (9) (12) (21)
Provision for credit losses (9) 11 (2) 2 (4)
Noninterest expense 39 30 29 69 78
Income (loss) before taxes (28) (55) (36) (83) (95)
Average assets $ 49,744 $ 50,646 $ 47,810 $ 50,194 $ 48,041
[1]
In the first quarter of 2020, we adopted new accounting guidance included in ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, on a prospective basis. See Note 2 of the Notes to Consolidated Financial Statements for additional information.