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Lines of Businesses (Tables)
 3 Months Ended
Mar. 31, 2014
Segment Reporting [Abstract]  
Contribution of Segments to Overall Profitability
The following consolidating schedules show the contribution of our businesses to our overall profitability.

For the quarter ended March 31, 2014
(dollar amounts in millions)
Investment
Management

 
Investment
Services

 
Other

 
Consolidated

 
Fee and other revenue
$
900

(a) 
$
1,887

 
$
112

 
$
2,899

(a) 
Net interest revenue
70

 
590

 
68

 
728

 
Total revenue
970

(a)
2,477

 
180

 
3,627

(a)
Provision for credit losses
—

 
—

 
(18
)
 
(18
)
 
Noninterest expense
724

 
1,821

 
194

 
2,739

 
Income before taxes
$
246

(a) 
$
656

 
$
4

 
$
906

(a) 
Pre-tax operating margin (b)
25
%
 
26
%
 
N/M

 
25
%
 
Average assets
$
39,463

 
$
258,470

 
$
57,059

 
$
354,992

 
(a)
Both total fee and other revenue and total revenue include income from consolidated investment management funds of $36 million, net of noncontrolling interests of $20 million, for a net impact of $16 million. Income before taxes includes noncontrolling interests of $20 million.
(b)
Income before taxes divided by total revenue.
N/M - Not meaningful.


For the quarter ended Dec. 31, 2013
(dollar amounts in millions)
Investment
Management

 
Investment
Services

 
Other

 
Consolidated

 
Fee and other revenue (a)
$
993

(b) 
$
1,860

 
$
(20
)
 
$
2,833

(b) 
Net interest revenue
68

 
610

 
83

 
761

 
Total revenue (a)
1,061

(b)
2,470

 
63

 
3,594

(b)
Provision for credit losses
—

 
—

 
6

 
6

 
Noninterest expense
795

 
1,867

 
215

 
2,877

 
Income (loss) before taxes (a)
$
266

(b) 
$
603

 
$
(158
)
 
$
711

(b) 
Pre-tax operating margin (a) (c)
25
%
 
24
%
 
N/M

 
20
%
 
Average assets
$
38,796

 
$
258,294

 
$
59,045

 
$
356,135

 
(a)
Consolidated results and Other segment results have been restated to reflect the retrospective application of adopting new accounting guidance related to our investments in qualified affordable housing projects (ASU 2014-01). See Note 2 of the Notes to Consolidated Financial Statements for additional information.
(b)
Both total fee and other revenue and total revenue include income from consolidated investment management funds of $36 million, net of noncontrolling interests of $17 million, for a net impact of $19 million. Income before taxes includes noncontrolling interests of $17 million.
(c)
Income before taxes divided by total revenue.
N/M - Not meaningful.


For the quarter ended March 31, 2013
(dollar amounts in millions)
Investment
Management

 
Investment
Services

 
Other

 
Consolidated

 
Fee and other revenue (a)
$
881

(b) 
$
1,861

 
$
152

 
$
2,894

(b) 
Net interest revenue
62

 
653

 
4

 
719

 
Total revenue (a)
943

(b)
2,514

 
156

 
3,613

(b)
Provision for credit losses
—

 
1

 
(25
)
 
(24
)
 
Noninterest expense
737

 
1,840

 
251

 
2,828

 
Income (loss) before taxes (a)
$
206

(b) 
$
673

 
$
(70
)
 
$
809

(b) 
Pre-tax operating margin (a) (c)
22
%
 
27
%
 
N/M

 
22
%
 
Average assets
$
38,743

 
$
240,187

 
$
54,734

 
$
333,664

 
(a)
Consolidated results and Other segment results have been restated to reflect the retrospective application of adopting new accounting guidance related to our investments in qualified affordable housing projects (ASU 2014-01). See Note 2 of the Notes to Consolidated Financial Statements for additional information.
(b)
Both total fee and other revenue and total revenue include income from consolidated investment management funds of $50 million, net of noncontrolling interests of $16 million, for a net impact of $34 million. Income before taxes includes noncontrolling interests of $16 million.
(c)
Income before taxes divided by total revenue.