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Lines of Businesses (Tables)
 9 Months Ended
Sep. 30, 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 Sept. 30, 2014
(dollar amounts in millions)
Investment
Management

 
Investment
Services

 
Other

 
Consolidated

 
Fee and other revenue
$
934

(a) 
$
2,005

 
$
928

 
$
3,867

(a) 
Net interest revenue
69

 
583

 
69

 
721

 
Total revenue
1,003

(a)
2,588

 
997

 
4,588

(a)
Provision for credit losses
—

 
—

 
(19
)
 
(19
)
 
Noninterest expense
758

 
1,879

 
331

 
2,968

 
Income before taxes
$
245

(a) 
$
709

 
$
685

 
$
1,639

(a) 
Pre-tax operating margin (b)
24
%
 
27
%
 
N/M

 
36
%
 
Average assets
$
36,670

 
$
266,455

 
$
77,284

 
$
380,409

 
(a)
Both total fee and other revenue and total revenue include income from consolidated investment management funds of $39 million, net of noncontrolling interests of $23 million, for a net impact of $16 million. Income before taxes is net of noncontrolling interests of $23 million.
(b)
Income before taxes divided by total revenue.
N/M - Not meaningful.


For the quarter ended June 30, 2014
(dollar amounts in millions)
Investment
Management

 
Investment
Services

 
Other

 
Consolidated

 
Fee and other revenue
$
970

(a) 
$
1,920

 
$
119

 
$
3,009

(a) 
Net interest revenue
66

 
593

 
60

 
719

 
Total revenue
1,036

(a)
2,513

 
179

 
3,728

(a)
Provision for credit losses
—

 
—

 
(12
)
 
(12
)
 
Noninterest expense
865

 
1,868

 
213

 
2,946

 
Income (loss) before taxes
$
171

(a) 
$
645

 
$
(22
)
 
$
794

(a) 
Pre-tax operating margin (b)
16
%
 
26
%
 
N/M

 
21
%
 
Average assets
$
37,750

 
$
264,221

 
$
67,241

 
$
369,212

 
(a)
Both total fee and other revenue and total revenue include income from consolidated investment management funds of $46 million, net of noncontrolling interests of $17 million, for a net impact of $29 million. Income before taxes is net of noncontrolling interests of $17 million.
(b)
Income before taxes divided by total revenue.
N/M - Not meaningful.
For the quarter ended Sept. 30, 2013
(dollar amounts in millions)
Investment
Management

 
Investment
Services

 
Other

 
Consolidated

 
Fee and other revenue (a)
$
882

(b) 
$
1,949

 
$
172

 
$
3,003

(b) 
Net interest revenue
67

 
619

 
86

 
772

 
Total revenue (a)
949

(b)
2,568

 
258

 
3,775

(b)
Provision for credit losses
—

 
—

 
2

 
2

 
Noninterest expense
724

 
1,811

 
244

 
2,779

 
Income before taxes (a)
$
225

(b) 
$
757

 
$
12

 
$
994

(b) 
Pre-tax operating margin (a)(c)
24
%
 
29
%
 
N/M

 
26
%
 
Average assets
$
38,690

 
$
246,252

 
$
56,808

 
$
341,750

 
(a)
Consolidated results and Other segment results have been restated to reflect the retrospective application of adopting new accounting guidance in the first quarter of 2014 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 $32 million, net of noncontrolling interests of $8 million, for a net impact of $24 million. Income before taxes is net of noncontrolling interests of $8 million.
(c)
Income before taxes divided by total revenue.
N/M - Not meaningful.


For the nine months ended Sept. 30, 2014
(dollar amounts in millions)
Investment
Management

 
Investment
Services

 
Other

 
Consolidated

 
Fee and other revenue
$
2,804

(a) 
$
5,812

 
$
1,159

 
$
9,775

(a) 
Net interest revenue
205

 
1,766

 
197

 
2,168

 
Total revenue
3,009

(a)
7,578

 
1,356

 
11,943

(a)
Provision for credit losses
—

 
—

 
(49
)
 
(49
)
 
Noninterest expense
2,347

 
5,569

 
737

 
8,653

 
Income before taxes
$
662

(a) 
$
2,009

 
$
668

 
$
3,339

(a) 
Pre-tax operating margin (b)
22
%
 
26
%
 
N/M

 
28
%
 
Average assets
$
37,951

 
$
263,078

 
$
67,268

 
$
368,297

 
(a)
Both total fee and other revenue and total revenue include income from consolidated investment management funds of $121 million, net of noncontrolling interests of $60 million, for a net impact of $61 million. Income before taxes is net of noncontrolling interests of $60 million.
(b)
Income before taxes divided by total revenue.
N/M - Not meaningful.


For the nine months ended Sept. 30, 2013
(dollar amounts in millions)
Investment
Management

 
Investment
Services

 
Other

 
Consolidated

 
Fee and other revenue (a)
$
2,675

(b) 
$
5,780

 
$
671

 
$
9,126

(b) 
Net interest revenue
192

 
1,905

 
151

 
2,248

 
Total revenue (a)
2,867

(b)
7,685

 
822

 
11,374

(b)
Provision for credit losses
—

 
1

 
(42
)
 
(41
)
 
Noninterest expense
2,165

 
5,533

 
731

 
8,429

 
Income before taxes (a)
$
702

(b) 
$
2,151

 
$
133

 
$
2,986

(b) 
Pre-tax operating margin (a)(c)
24
%
 
27
%
 
N/M

 
26
%
 
Average assets
$
38,462

 
$
243,769

 
$
55,420

 
$
337,651

 
(a)
Consolidated results and Other segment results have been restated to reflect the retrospective application of adopting new accounting guidance in the first quarter of 2014 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 $147 million, net of noncontrolling interests of $63 million, for a net impact of $84 million. Income before taxes is net of noncontrolling interests of $63 million.
(c)
Income before taxes divided by total revenue.
N/M - Not meaningful.