
For the quarter ended Sept. 30, 2020	Investment Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	2,246		$	871		(a)	$	20	$	3,137		(a)
Net interest revenue (expense)	681			47				(25)		703
Total revenue (loss)	2,927			918			(a)	(5)		3,840			(a)
Provision for credit losses	(10)			12				7		9
Noninterest expense	2,020			661				—		2,681
Income (loss) before income taxes	$	917		$	245		(a)	$	(12)	$	1,150		(a)
Pre-tax operating margin (b)	31		%	27		%		N/M		30		%
Average assets	$	329,324		$	30,160			$	55,381	$	414,865

(a) Total fee and other revenue includes net income from consolidated investment management funds of $20 million, representing $27 million of income and noncontrolling interests of $7 million. Total revenue and income before income taxes are net of noncontrolling interests of $7 million.


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.


For the quarter ended Sept. 30, 2019	Investment Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue (loss)	$	2,296		$	838		(a)	$	(6)	$	3,128		(a)
Net interest revenue (expense)	761			49				(80)		730
Total revenue (loss)	3,057			887			(a)	(86)		3,858			(a)
Provision for credit losses	(15)			—				(1)		(16)
Noninterest expense	1,973			592				25		2,590
Income (loss) before income taxes	$	1,099		$	295		(a)	$	(110)	$	1,284		(a)
Pre-tax operating margin (b)	36		%	33		%		N/M		33		%
Average assets	$	269,926		$	27,840			$	52,913	$	350,679

(a) Total fee and other revenue includes net income from consolidated investment management funds of $— million, representing $3 million of income and noncontrolling interests of $3 million. Total revenue and income before income taxes are net of noncontrolling interests of $3 million.


For the nine months ended Sept. 30, 2020	Investment Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	7,021		$	2,555		(a)	$	88	$	9,664		(a)
Net interest revenue (expense)	2,255			147				(105)		2,297
Total revenue (loss)	9,276			2,702			(a)	(17)		11,961			(a)
Provision for credit losses	284			28				9		321
Noninterest expense	5,996			2,014				69		8,079
Income (loss) before income taxes	$	2,996		$	660		(a)	$	(95)	$	3,561		(a)
Pre-tax operating margin (b)	32		%	24		%		N/M		30		%
Average assets	$	322,924		$	30,343			$	51,936	$	405,203

(a) Total fee and other revenue includes net income from consolidated investment management funds of $39 million, representing $43 million of income and noncontrolling interests of $4 million. Total revenue and income before income taxes are net of noncontrolling interests of $4 million.


For the nine months ended Sept. 30, 2019	Investment Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	6,690		$	2,561		(a)	$	43	$	9,294		(a)
Net interest revenue (expense)	2,348			175				(150)		2,373
Total revenue (loss)	9,038			2,736			(a)	(107)		11,667			(a)
Provision for credit losses	(11)			(1)				(5)		(17)
Noninterest expense	5,917			1,916				103		7,936
Income (loss) before income taxes	$	3,132		$	821		(a)	$	(205)	$	3,748		(a)
Pre-tax operating margin (b)	35		%	30		%		N/M		32		%
Average assets	$	263,631		$	29,815			$	49,683	$	343,129

(a) Total fee and other revenue includes net income from consolidated investment management funds of $22 million, representing $39 million of income and noncontrolling interests of $17 million. Total revenue and income before income taxes are net of noncontrolling interests of $17 million.