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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest Income      
Interest and fees on loans and leases $ 4,424 $ 5,051 $ 4,078
Interest on securities 1,119 1,162 1,080
Interest on other short-term investments 29 41 25
Total interest income 5,572 6,254 5,183
Interest Expense      
Interest on deposits 322 892 538
Interest on federal funds purchased 2 29 30
Interest on other short-term borrowings 14 28 29
Interest on long-term debt 452 508 446
Total interest expense 790 1,457 1,043
Net Interest Income 4,782 4,797 4,140
Provision for credit losses 1,097 471 207
Net Interest Income After Provision for Credit Losses 3,685 4,326 3,933
Noninterest Income:      
Service charges on deposits [1] 559 565 549
Commercial banking revenue [1] 528 460 408
Wealth and asset management revenue [1] 520 487 444
Card and processing revenue [1] 352 360 329
Mortgage banking net revenue [1] 320 287 212
Leasing business revenue [1] 276 270 114
Other noninterest income [1] 211 1,064 803
Securities gains (losses), net [1] 62 40 (54)
Securities gains (losses), net - non-qualifying hedges on mortgage servicing rights [1] 2 3 (15)
Total noninterest income [1] 2,830 3,536 2,790
Noninterest Expense:      
Compensation and benefits [1] 2,590 2,418 2,115
Technology and communications [1] 362 422 285
Net occupancy expense [1] 350 332 292
Leasing business expense [1] 140 133 76
Equipment expense [1] 130 129 123
Card and processing expense [1] 121 130 123
Marketing expense [1] 104 162 147
Other noninterest expense [1] 921 934 797
Total noninterest expense [1] 4,718 4,660 3,958
Income before income taxes 1,797 3,202 2,765
Applicable income tax expense 370 690 572
Net Income 1,427 2,512 2,193
Dividends on preferred stock 104 93 75
Net Income Available to Common Shareholders $ 1,323 $ 2,419 $ 2,118
Shares Disclosures      
Earnings per share - basic (in usd per share) $ 1.84 $ 3.38 $ 3.11
Earnings per share - diluted (in usd per share) $ 1.83 $ 3.33 $ 3.06
Average common shares outstanding - basic (in shares) 714,729,585 710,433,611 673,346,168
Average common shares outstanding - diluted (in shares) 719,735,415 720,065,498 685,488,498
[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.