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Consolidated Income Statement (unaudited) - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Jun. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Fee and other revenue          
Asset servicing fees $ 1,168 $ 1,173 $ 1,152 $ 3,500 $ 3,415
Clearing services fees 397 431 419 1,298 1,227
Issuer services fees 295 277 324 835 866
Treasury services fees 152 144 140 445 412
Total investment services fees 2,012 2,025 2,035 6,078 5,920
Investment management and performance fees 835 786 832 2,483 2,506
Foreign exchange and other trading revenue 137 166 150 622 486
Financing-related fees 49 58 49 166 150
Distribution and servicing 29 27 33 87 95
Investment and other income 46 105 30 162 108
Total fee revenue 3,108 3,167 3,129 9,598 9,265
Net securities gains (losses) 9 9 (1) 27 7
Total fee and other revenue 3,117 3,176 3,128 9,625 9,272
Operations of consolidated investment management funds          
Investment income 27 54 4 43 40
Interest of investment management fund note holders 0 0 1 0 1
Income from consolidated investment management funds 27 54 3 43 39
Net interest revenue          
Interest revenue 820 943 1,942 3,333 5,827
Interest expense 117 163 1,212 1,036 3,454
Net interest revenue 703 780 730 2,297 2,373
Total revenue 3,847 4,010 3,861 11,965 11,684
Provision for credit losses 9 143 (16) 321 [1] (17) [1]
Noninterest expense          
Staff 1,466 1,464 1,479 4,412 4,424
Professional, legal and other purchased services 355 337 316 1,022 978
Software and equipment 340 345 309 1,011 896
Net occupancy 136 137 138 408 413
Sub-custodian and clearing 119 120 111 344 331
Distribution and servicing 85 85 97 261 282
Bank assessment charges 30 35 31 100 93
Business development 17 20 47 79 148
Amortization of intangible assets 26 26 30 78 89
Other 107 117 32 364 282
Total noninterest expense 2,681 2,686 2,590 8,079 7,936
Income          
Income before income taxes 1,157 1,181 1,287 3,565 3,765
Provision for income taxes 213 216 246 694 747
Net income 944 965 1,041 2,871 3,018
Net (income) attributable to noncontrolling interests related to consolidated investment management funds (7) (15) (3) (4) (17)
Net income applicable to shareholders of The Bank of New York Mellon Corporation 937 950 1,038 2,867 3,001
Preferred stock dividends (61) (49) (36) (146) (120)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation 876 901 1,002 2,721 2,881
Net income applicable to common shareholders of The Bank of New York Mellon Corporation used for the earnings per share calculation          
Net income applicable to common shareholders of The Bank of New York Mellon Corporation 876 901 1,002 2,721 2,881
Less: Earnings allocated to participating securities 1 1 3 5 12
Net income applicable to common shareholders of The Bank of New York Mellon Corporation after required adjustment for the calculation of basic and diluted earnings per common share $ 875 $ 900 $ 999 $ 2,716 $ 2,869
Average common shares and equivalents outstanding of The Bank of New York Mellon Corporation          
Basic (shares) 889,499 889,020 933,264 891,050 949,035
Common stock equivalents (shares) 2,173 2,044 3,811 2,522 4,484
Less: Participating securities (shares) (603) (503) (1,398) (779) (1,643)
Diluted (shares) 891,069 890,561 935,677 892,793 951,876
Anti-dilutive securities (shares) [2] 1,485 1,578 3,701 1,828 4,269
Earnings per share applicable to the common shareholders of The Bank of New York Mellon Corporation          
Basic (usd per share) $ 0.98 $ 1.01 $ 1.07 $ 3.05 $ 3.02
Diluted (usd per share) $ 0.98 $ 1.01 $ 1.07 $ 3.04 $ 3.01
[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.
[2] Represents stock options, restricted stock, restricted stock units and participating securities outstanding but not included in the computation of diluted average common shares because their effect would be anti-dilutive.