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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest Income        
Interest and fees on loans and leases $ 1,014 $ 1,047 $ 3,078 $ 3,397
Interest on securities 266 274 809 840
Interest on other short-term investments 12 8 29 20
Total interest income 1,292 1,329 3,916 4,257
Interest Expense        
Interest on deposits 12 46 48 295
Interest on federal funds purchased 0 0 0 2
Interest on other short-term borrowings 0 5 1 13
Interest on long-term debt 91 108 293 347
Total interest expense 103 159 342 657
Net Interest Income 1,189 1,170 3,574 3,600
(Benefit from) provision for credit losses (42) (15) (330) 1,110
Net Interest Income After (Benefit from) Provision for Credit Losses 1,231 1,185 3,904 2,490
Noninterest Income        
Commercial banking revenue 152 125 465 387
Service charges on deposits 152 144 445 414
Wealth and asset management revenue 147 132 436 387
Card and processing revenue 102 92 298 260
Mortgage banking net revenue 86 76 235 295
Leasing business revenue 78 77 226 207
Other noninterest income 120 26 211 42
Securities gains (losses), net (1) 51 12 48
Securities (losses) gains, net – non-qualifying hedges on mortgage servicing rights 0 (1) (2) 3
Total noninterest income 836 722 2,326 2,043
Noninterest Expense        
Compensation and benefits 627 637 1,971 1,911
Technology and communications 98 89 285 272
Net occupancy expense 79 90 235 254
Equipment expense 34 33 102 97
Leasing business expense 33 35 102 103
Marketing expense 29 23 72 74
Card and processing expense 19 29 70 89
Other noninterest expense 253 225 704 682
Total noninterest expense 1,172 1,161 3,541 3,482
Income Before Income Taxes 895 746 2,689 1,051
Applicable income tax expense 191 165 582 228
Net Income 704 581 2,107 823
Dividends on preferred stock 20 19 75 69
Net Income Available to Common Shareholders $ 684 $ 562 $ 2,032 $ 754
Shares Disclosures        
Earnings per share - basic (in dollars per share) $ 0.98 $ 0.78 $ 2.87 $ 1.05
Earnings per share - diluted (in dollars per share) $ 0.97 $ 0.78 $ 2.83 $ 1.04
Average common shares outstanding - basic (in shares) 697,457,483 715,102,136 706,845,513 714,477,089
Average common shares outstanding - diluted (in shares) 706,089,674 718,893,892 715,803,010 718,942,648