Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

REVENUE FROM CONTRACTS WITH CUSTOMERS

Revenue from contracts with customers comprises the noninterest income earned by the Corporation in exchange for services provided to customers. The following table presents the composition of revenue from contracts with customers, segregated from other sources of noninterest income, by business segment.

	Business Bank		Retail Bank		Wealth Management		Finance & Other			Total
(in millions)
Three Months Ended September 30, 2018
Revenue from contracts with customers:
Card fees (a)	$	50	$	10	$	1	$	—		$	61
Service charges on deposit accounts (a)	34		18		1		—			53
Fiduciary income	—		—		51		—			51
Commercial loan servicing fees (b)	5		—		—		—			5
Brokerage fees	—		—		7		—			7
Other noninterest income (c)	3		6		4		—			13
Total revenue from contracts with customers	92		34		64		—			190
Other sources of noninterest income	45		1		2		(4		)	44
Total noninterest income	$	137	$	35	$	66	$	(4	)	$	234
Three Months Ended September 30, 2017
Card fees	$	73	$	11	$	1	$	—		$	85
Service charges on deposit accounts	36		20		1		—			57
Fiduciary income	—		—		48		—			48
Commercial lending fees	21		—		—		—			21
Letter of credit fees	10		—		1		—			11
Bank-owned life insurance	—		—		—		12			12
Foreign exchange income	11		—		—		—			11
Brokerage fees	—		—		6		—			6
Other noninterest income	7		8		5		4			24
Total noninterest income	$	158	$	39	$	62	$	16		$	275

(a) Adoption of Topic 606 resulted in a change in presentation which records certain costs in the same category as the associated revenues.

The effect of this change was to reduce card fees by $34 million and service charges on deposit accounts by $2 million for the three months ended September 30, 2018. Refer to note 1 for further information.

(b) Included in commercial lending fees on the Consolidated Statements of Comprehensive Income.

(c) Excludes derivative, warrant and other miscellaneous income.

	Business Bank		Retail Bank		Wealth Management		Finance & Other		Total
(in millions)
Nine Months Ended September 30, 2018
Revenue from contracts with customers:
Card fees (a)	$	149	$	28	$	3	$	—	$	180
Service charges on deposit accounts (a)	102		54		4		—		160
Fiduciary income	—		—		155		—		155
Commercial loan servicing fees (b)	14		—		—		—		14
Brokerage fees	—		—		20		—		20
Other noninterest income (c)	9		13		12		—		34
Total revenue from contracts with customers	274		95		194		—		563
Other sources of noninterest income	129		5		7		22		163
Total noninterest income	$	403	$	100	$	201	$	22	$	726
Nine Months Ended September 30, 2017
Card fees	$	206	$	32	$	4	$	—	$	242
Service charges on deposit accounts	108		60		4		—		172
Fiduciary income	—		—		148		—		148
Commercial lending fees	63		—		—		—		63
Letter of credit fees	33		—		1		—		34
Bank-owned life insurance	—		—		—		31		31
Foreign exchange income	32		—		1		—		33
Brokerage fees	—		—		17		—		17
Other noninterest income	31		24		16		11		82
Total noninterest income	$	473	$	116	$	191	$	42	$	822

(a) Adoption of Topic 606 resulted in a change in presentation which records certain costs in the same category as the associated revenues.

The effect of this change was to reduce card fees by $105 million and service charges on deposit accounts by $4 million for the nine months ended September 30, 2018. Refer to note 1 for further information.

(b) Included in commercial lending fees on the Consolidated Statements of Comprehensive Income.

(c) Excludes derivative, warrant and other miscellaneous income.

Adjustments to revenue during the three- and nine-month periods ended September 30, 2018 for refunds or credits relating to prior periods were not significant.

Revenue from contracts with customers did not generate significant contract assets and liabilities.