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Lines of business (Tables)
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Contribution of Segments to Overall Profitability

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

For the quarter ended June 30, 2020
Investment
Services

 
Investment and Wealth
Management

 
Other

 
Consolidated

 
(dollars in millions)
Total fee and other revenue
$
2,339

 
$
838

(a)
$
38

 
$
3,215

(a)
Net interest revenue (expense)
768

 
48

 
(36
)
 
780

 
Total revenue
3,107

 
886

(a)
2

 
3,995

(a) 
Provision for credit losses
145

 
7

 
(9
)
 
143

 
Noninterest expense
1,989

 
658

 
39

 
2,686

 
Income (loss) before income taxes
$
973

 
$
221

(a)
$
(28
)
 
$
1,166

(a)
Pre-tax operating margin (b)
31
%
 
25
%
 
N/M

 
29
%
 
Average assets
$
335,288

 
$
30,327

 
$
49,744

 
$
415,359

 
(a)
Total fee and other revenue includes net income from consolidated investment management funds of $39 million, representing $54 million of income and noncontrolling interests of $15 million. Total revenue and income before income taxes are net of noncontrolling interests of $15 million.
(b)
Income before income taxes divided by total revenue.
N/M - Not meaningful.


For the quarter ended March 31, 2020
Investment
Services

 
Investment and Wealth
Management

 
Other

 
Consolidated

 
(dollars in millions)
Total fee and other revenue
$
2,436

 
$
846

(a)
$
30

 
$
3,312

(a)
Net interest revenue (expense)
806

 
52

 
(44
)
 
814

 
Total revenue (loss)
3,242

 
898

(a)
(14
)
 
4,126

(a)
Provision for credit losses
149

 
9

 
11

 
169

 
Noninterest expense
1,987

 
695

 
30

 
2,712

 
Income (loss) before income taxes
$
1,106

 
$
194

(a)
$
(55
)
 
$
1,245

(a)
Pre-tax operating margin (b)
34
%
 
22
%
 
N/M

 
30
%
 
Average assets
$
304,089

 
$
30,543

 
$
50,646

 
$
385,278

 
(a)
Total fee and other revenue includes net loss from consolidated investment management funds of $20 million, representing $38 million of losses and a loss attributable to noncontrolling interests of $18 million. Total revenue and income before income taxes are net of a loss attributable to noncontrolling interests of $18 million.
(b)
Income before income taxes divided by total revenue.
N/M - Not meaningful.


For the quarter ended June 30, 2019
Investment
Services

 
Investment and Wealth
Management

 
Other

 
Consolidated

 
(dollars in millions)
Total fee and other revenue
$
2,233

 
$
854

(a)
$
31

 
$
3,118

(a)
Net interest revenue (expense)
783

 
59

 
(40
)
 
802

 
Total revenue (loss)
3,016

 
913

(a)
(9
)
 
3,920

(a)
Provision for credit losses
(4
)
 
(2
)
 
(2
)
 
(8
)
 
Noninterest expense
1,963

 
655

 
29

 
2,647

 
Income (loss) before income taxes
$
1,057

 
$
260

(a)
$
(36
)
 
$
1,281

(a)
Pre-tax operating margin (b)
35
%
 
29
%
 
N/M

 
33
%
 
Average assets
$
264,781

 
$
29,793

 
$
47,810

 
$
342,384

 
(a)
Total fee and other revenue includes net income from consolidated investment management funds of $6 million, representing $10 million of income and noncontrolling interests of $4 million. Total revenue and income before income taxes are net of noncontrolling interests of $4 million.
(b)
Income before income taxes divided by total revenue.
N/M - Not meaningful.


For the six months ended June 30, 2020
Investment
Services

 
Investment and Wealth
Management

 
Other

 
Consolidated

 
(dollars in millions)
Total fee and other revenue
$
4,775

 
$
1,684

(a)
$
68

 
$
6,527

(a) 
Net interest revenue (expense)
1,574

 
100

 
(80
)
 
1,594

 
Total revenue (loss)
6,349

 
1,784

(a)
(12
)
 
8,121

(a) 
Provision for credit losses
294

 
16

 
2

 
312

 
Noninterest expense
3,976

 
1,353

 
69

 
5,398

 
Income (loss) before income taxes
$
2,079

 
$
415

(a)
$
(83
)
 
$
2,411

(a)
Pre-tax operating margin (b)
33
%
 
23
%
 
N/M

 
30
%
 
Average assets
$
319,689

 
$
30,435

 
$
50,194

 
$
400,318

 
(a)
Total fee and other revenue includes net income from consolidated investment management funds of $19 million, representing $16 million of income and a loss attributable to noncontrolling interests of $3 million. Total revenue and income before income taxes are net of a loss attributable to noncontrolling interests of $3 million.
(b)
Income before income taxes divided by total revenue.
N/M - Not meaningful.


For the six months ended June 30, 2019
Investment
Services

 
Investment and Wealth
Management

 
Other

 
Consolidated

 
(dollars in millions)
Total fee and other revenue
$
4,394

 
$
1,723

(a)
$
49

 
$
6,166

(a)
Net interest revenue (expense)
1,587

 
126

 
(70
)
 
1,643

 
Total revenue (loss)
5,981

 
1,849

(a)
(21
)
 
7,809

(a)
Provision for credit losses
4

 
(1
)
 
(4
)
 
(1
)
 
Noninterest expense
3,944

 
1,324

 
78

 
5,346

 
Income (loss) before income taxes
$
2,033

 
$
526

(a)
$
(95
)
 
$
2,464

(a)
Pre-tax operating margin (b)
34
%
 
28
%
 
N/M

 
32
%
 
Average assets
$
260,432

 
$
30,819

 
$
48,041

 
$
339,292

 
(a)
Total fee and other revenue includes net income from consolidated investment management funds of $22 million, representing $36 million of income and noncontrolling interests of $14 million. Total revenue and income before income taxes are net of noncontrolling interests of $14 million.
(b)
Income before income taxes divided by total revenue.
N/M - Not meaningful.