Contract revenue (Tables)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents fee revenue related to contracts with customers, disaggregated by type of fee revenue, for each business segment. Business segment data has been determined on an internal management basis of accounting, rather than the generally accepted accounting principles used for consolidated financial reporting.

Disaggregation of contract revenue by business segment
	Quarter ended
	Sept. 30, 2020								June 30, 2020								Sept. 30, 2019 (a)
(in millions)	IS		IWM		Other		Total		IS		IWM		Other		Total		IS		IWM		Other		Total
Fee revenue - contract revenue:
Investment services fees:
Asset servicing fees	$	1,143	$	25	$	(13)	$	1,155	$	1,147	$	25	$	(15)	$	1,157	$	1,106	$	20	$	(5)	$	1,121
Clearing services fees	397		—		—		397		431		—		—		431		419		—		—		419
Issuer services fees	296		—		—		296		277		—		—		277		324		—		—		324
Treasury services fees	153		1		(2)		152		144		—		1		145		140		—		—		140
Total investment services fees	1,989		26		(15)		2,000		1,999		25		(14)		2,010		1,989		20		(5)		2,004
Investment management and performance fees	4		838		(3)		839		4		792		(5)		791		4		829		(4)		829
Financing-related fees	13		1		1		15		23		1		—		24		14		—		—		14
Distribution and servicing	(2)		31		—		29		(7)		34		—		27		(12)		45		—		33
Investment and other income	57		(33)		(2)		22		62		(41)		3		24		72		(50)		—		22
Total fee revenue - contract revenue	2,061		863		(19)		2,905		2,081		811		(16)		2,876		2,067		844		(9)		2,902
Fee and other revenue - not in scope of Accounting Standards Codification (“ASC”) 606 (b)(c)	185		8		39		232		258		27		54		339		229		(6)		3		226
Total fee and other revenue (loss)	$	2,246	$	871	$	20	$	3,137	$	2,339	$	838	$	38	$	3,215	$	2,296	$	838	$	(6)	$	3,128

(a)    Restated to reflect the first quarter 2020 business segment reclassifications. There was no impact on total revenue, by type or in aggregate. See Note 19 for additional information related to the reclassifications.

(b)    Primarily includes foreign exchange and other trading revenue, financing-related fees, investment and other income (loss), asset servicing fees and net securities gains (losses), all of which are accounted for using other accounting guidance.

(c)    The Investment and Wealth Management business segment includes income from consolidated investment management funds, net of noncontrolling interests, of $20 million in the third quarter of 2020, $39 million in the second quarter of 2020 and $— million in the third quarter of 2019.

IS - Investment Services business segment.

IWM - Investment and Wealth Management business segment.

Disaggregation of contract revenue by business segment	Year-to-date
	Sept. 30, 2020								Sept. 30, 2019 (a)
(in millions)	IS		IWM		Other		Total		IS		IWM		Other		Total
Fee revenue - contract revenue:
Investment services fees:
Asset servicing fees	$	3,417	$	73	$	(39)	$	3,451	$	3,282	$	60	$	(19)	$	3,323
Clearing services fees	1,298		—		—		1,298		1,228		—		(1)		1,227
Issuer services fees	836		—		—		836		866		—		—		866
Treasury services fees	446		1		(1)		446		412		1		—		413
Total investment services fees	5,997		74		(40)		6,031		5,788		61		(20)		5,829
Investment management and performance fees	13		2,492		(12)		2,493		12		2,503		(12)		2,503
Financing-related fees	64		2		1		67		47		—		1		48
Distribution and servicing	(21)		108		—		87		(39)		134		—		95
Investment and other income	191		(124)		1		68		210		(147)		—		63
Total fee revenue - contract revenue	6,244		2,552		(50)		8,746		6,018		2,551		(31)		8,538
Fee and other revenue - not in scope of ASC 606 (b)(c)	777		3		138		918		672		10		74		756
Total fee and other revenue	$	7,021	$	2,555	$	88	$	9,664	$	6,690	$	2,561	$	43	$	9,294

(a)    Restated to reflect the first quarter 2020 business segment reclassifications. There was no impact on total revenue, by type or in aggregate. See Note 19 for additional information related to the reclassifications.

(b)    Primarily includes foreign exchange and other trading revenue, financing-related fees, investment and other income (loss), asset servicing fees and net securities gains (losses), all of which are accounted for using other accounting guidance.

(c)    The Investment and Wealth Management business segment includes income from consolidated investment management funds, net of noncontrolling interests, of $39 million in the first nine months of 2020 and $22 million in the first nine months of 2019.

IS - Investment Services business segment.

IWM - Investment and Wealth Management business segment.