Segment Information (Tables)

6 Months Ended

Jun. 30, 2012

Financial Information for Reportable Segments

Financial information for the Company’s reportable segments is presented in the following table:


	Investor Services						Institutional Services						Unallocated						Total
Three Months Ended June 30,	2012			2011			2012			2011			2012			2011			2012			2011
Net Revenues:
Asset management and administration fees	$	271		$	275		$	227		$	227		$	(2	)	$	—		$	496		$	502
Net interest revenue		385			387			73			64			—			—			458			451
Trading revenue		147			136			72			70			—			(1	)		219			205
Other ⁽¹⁾		27			16			21			19			73			—			121			35
Provision for loan losses		(3	)		(1	)		(1	)		—			—			—			(4	)		(1	)
Net impairment losses on securities		(6	)		(2	)		(1	)		—			—			—			(7	)		(2	)

Total net revenues		821			811			391			380			71			(1	)		1,283			1,190

Expenses Excluding Interest		587			547			264			258			—			(1	)		851			804

Income before taxes on income	$	234		$	264		$	127		$	122		$	71		$	—		$	432		$	386

Taxes on income																				157			148

Net Income																			$	275		$	238


	Investor Services						Institutional Services						Unallocated						Total
Six Months Ended June 30,	2012			2011			2012			2011			2012			2011			2012			2011
Net Revenues:
Asset management and administration fees	$	531		$	551		$	450		$	453		$	(1	)	$	—		$	980		$	1,004
Net interest revenue		750			760			142			127			—			—			892			887
Trading revenue		310			296			152			150			—			—			462			446
Other ⁽¹⁾		54			36			41			38			72			—			167			74
Provision for loan losses		(3	)		(4	)		(1	)		(1	)		—			—			(4	)		(5	)
Net impairment losses on securities		(22	)		(8	)		(3	)		(1	)		—			—			(25	)		(9	)

Total net revenues		1,620			1,631			781			766			71			—			2,472			2,397

Expenses Excluding Interest		1,193			1,101			534			518			—			(2	)		1,727			1,617

Income before taxes on income	$	427		$	530		$	247		$	248		$	71		$	2		$	745		$	780

Taxes on income																				275			299

Net Income																			$	470		$	481

⁽¹⁾	Unallocated amount includes a pre-tax gain of $70 million relating to a confidential resolution of a vendor dispute in the second quarter of 2012.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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