XML 55 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest Income        
Interest and fees on loans and leases $ 1,047 $ 1,320 $ 3,397 $ 3,799
Interest on securities 274 291 840 862
Interest on other short-term investments 8 14 20 33
Total interest income 1,329 1,625 4,257 4,694
Interest Expense        
Interest on deposits 46 243 295 692
Interest on federal funds purchased 0 4 2 23
Interest on other short-term borrowings 5 8 13 23
Interest on long-term debt 108 128 347 387
Total interest expense 159 383 657 1,125
Net Interest Income 1,170 1,242 3,600 3,569
Provision for (benefit from) credit losses (15) 134 1,110 310
Net Interest Income After Provision for (Benefit from) Credit Losses 1,185 1,108 2,490 3,259
Noninterest Income:        
Service charges on deposits [1] 144 143 414 417
Wealth and asset management revenue [1] 132 124 387 358
Commercial banking revenue [1] 125 123 387 333
Mortgage banking net revenue [1] 76 95 295 214
Card and processing revenue [1] 92 94 260 266
Leasing business revenue [1] 77 92 207 199
Other noninterest income [1] 26 64 42 679
Securities gains, net [1] 51 5 48 30
Securities gains (losses), net – non-qualifying hedges on mortgage servicing rights [1] (1) 0 3 5
Total noninterest income [1] 722 740 2,043 2,501
Noninterest expense:        
Compensation and benefits [1] 637 584 1,911 1,843
Technology and communications [1] 89 100 272 319
Net occupancy expense [1] 90 84 254 248
Leasing business expense [1] 35 40 103 97
Equipment expense [1] 33 33 97 96
Card and processing expense [1] 29 33 89 98
Marketing expense [1] 23 40 74 117
Other noninterest expense [1] 225 245 682 681
Total noninterest expense [1] 1,161 1,159 3,482 3,499
Income Before Income Taxes 746 689 1,051 2,261
Applicable income tax expense 165 140 228 483
Net Income 581 549 823 1,778
Dividends on preferred stock 19 19 69 60
Net Income Available to Common Shareholders $ 562 $ 530 $ 754 $ 1,718
Shares Disclosures        
Earnings per share - basic (in dollars per share) $ 0.78 $ 0.72 $ 1.05 $ 2.40
Earnings per share - diluted (in dollars per share) $ 0.78 $ 0.71 $ 1.04 $ 2.37
Average common shares outstanding - basic (in shares) 715,102,136 726,715,542 714,477,089 708,848,535
Average common shares outstanding - diluted (in shares) 718,893,892 736,086,399 718,942,648 718,413,237
[1] During the first quarter of 2020, certain noninterest income and noninterest expense line items were reclassified to better align disclosures to business activities. These reclassifications were retrospectively applied to all prior periods presented. Total noninterest income and noninterest expense did not change as a result of these reclassifications.