Business Segments (Tables)

12 Months Ended

Dec. 31, 2019

Business Segments

Results of Operations and Assets by Segment

The following tables present the results of operations and assets by business segment for the years ended December 31:​​​​​​​

2019 ($ in millions)	Commercial Banking		Branch   Banking		Consumer Lending		Wealth and Asset Management		General Corporate and Other			Eliminations			Total
Net interest income	$	2,360		2,371		325		182		(441	)		-			4,797
Provision for credit losses		183		224		49		-		15			-			471
Net interest income after provision for credit losses		2,177		2,147		276		182		(456	)		-			4,326
Noninterest income:
Corporate banking revenue		565(c)		4		-		1		-			-			570
Service charges on deposits		308		260		-		1		(4	)		-			565
Wealth and asset management revenue		3		158		-		469		-			(143)(a)			487
Card and processing revenue		66		285		-		3		6			-			360
Mortgage banking net revenue		-		6		279		2		-			-			287
Other noninterest income(b)		245		89		14		13		863			-			1,224
Securities gains, net		-		-		-		-		40			-			40
Securities gains, net - non-qualifying hedges on MSRs		-		-		3		-		-			-			3
Total noninterest income		1,187		802		296		489		905			(143	)		3,536
Noninterest expense:
Salaries, wages and incentives		406		489		158		185		763			-			2,001
Employee benefits		60		112		38		32		175			-			417
Technology and communications		11		4		8		1		398			-			422
Net occupancy expense(e)		28		173		10		13		108			-			332
Card and processing expense		8		123		-		1		(2	)		-			130
Equipment expense		25		48		-		1		55			-			129
Other noninterest expense		1,083		911		241		296		(1,159	)		(143	)		1,229
Total noninterest expense		1,621		1,860		455		529		338			(143	)		4,660
Income before income taxes		1,743		1,089		117		142		111			-			3,202
Applicable income tax expense		319		229		25		30		87			-			690
Net income		1,424		860		92		112		24			-			2,512
Total goodwill	$	1,954		2,046		-		252		-			-			4,252
Total assets	$	74,570		69,413		26,555		10,500		(11,669)(d)			-			169,369

(a) Revenue sharing agreements between wealth and asset management and branch banking are eliminated in the Consolidated Statements of Income. 

(b) Includes impairment charges of $28 for branches and land. For more information, refer to Note 8 and Note 29. 

(c) Includes impairment charges of $3 for operating lease equipment. For more information, refer to Note 9 and Note 29. 

(d) Includes bank premises and equipment of $27 classified as held for sale. For more information, refer to Note 8. 

(e) Includes impairment losses and termination charges of $15 for ROU assets related to certain operating leases. For more information, refer to Note 10. 

2018 ($ in millions)	Commercial Banking			Branch   Banking		Consumer Lending			Wealth and Asset Management		General Corporate and Other			Eliminations			Total
Net interest income	$	1,713			2,034		237			182		(26	)		-			4,140
Provision for (benefit from) credit losses		(26	)		171		42			12		8			-			207
Net interest income after provision for credit losses		1,739			1,863		195			170		(34	)		-			3,933
Noninterest income:
Corporate banking revenue		432(c)			5		-			2		(1	)		-			438
Service charges on deposits		273			275		-			1		-			-			549
Wealth and asset management revenue		3			150		-			429		-			(138)(a)			444
Card and processing revenue		58			266		-			5		-			-			329
Mortgage banking net revenue		-			5		206			1		-			-			212
Other noninterest income(b)		151			53		14			18		651			-			887
Securities losses, net		-			-		-			-		(54	)		-			(54)
Securities losses, net - non-qualifying hedges on MSRs		-			-		(15	)		-		-			-			(15)
Total noninterest income		917			754		205			456		596			(138	)		2,790
Noninterest expense:
Salaries, wages and incentives		300			438		156			173		716			-			1,783
Employee benefits		44			98		36			29		125			-			332
Technology and communications		7			5		5			1		267			-			285
Net occupancy expense		26			175		10			12		69			-			292
Card and processing expense		4			121		-			-		(2	)		-			123
Equipment expense		23			50		-			1		49			-			123
Other noninterest expense		859			841		195			288		(1,025	)		(138	)		1,020
Total noninterest expense		1,263			1,728		402			504		199			(138	)		3,958
Income (loss) before income taxes		1,393			889		(2	)		122		363			-			2,765
Applicable income tax expense (benefit)		254			187		(1	)		25		107			-			572
Net income (loss)		1,139			702		(1	)		97		256			-			2,193
Total goodwill	$	630			1,655		-			193		-			-			2,478
Total assets	$	61,630			61,040		22,044			10,337		(8,982)(d)			-			146,069

(a) Revenue sharing agreements between wealth and asset management and branch banking are eliminated in the Consolidated Statements of Income.

(b) Includes impairment charges of $45 for branches and land. For more information, refer to Note 8 and Note 29.

(c) Includes impairment charges of $4 for operating lease equipment. For more information, refer to Note 9 and Note 29.

(d) Includes bank premises and equipment of $42 classified as held for sale. For more information, refer to Note 8.

2017 ($ in millions)	Commercial Banking		Branch   Banking		Consumer Lending		Wealth and Asset Management		General Corporate and Other			Eliminations			Total
Net interest income	$	1,652		1,782		240		154		(30	)		-			3,798
Provision for credit losses		38		153		40		6		24			-			261
Net interest income after provision for credit losses		1,614		1,629		200		148		(54	)		-			3,537
Noninterest income:
Corporate banking revenue		348(c)		5		-		1		(1	)		-			353
Service charges on deposits		287		265		-		1		1			-			554
Wealth and asset management revenue		3		141		-		407		-			(132)(a)			419
Card and processing revenue		57		251		-		5		-			-			313
Mortgage banking net revenue		-		6		217		1		-			-			224
Other noninterest income(b)		143		88		18		4		1,104			-			1,357
Securities gains, net		-		-		-		-		2			-			2
Securities gains, net - non-qualifying hedges on MSRs		-		-		2		-		-			-			2
Total noninterest income		838		756		237		419		1,106			(132	)		3,224
Noninterest expense:
Salaries, wages and incentives		252		425		152		154		650			-			1,633
Employee benefits		42		101		37		27		149			-			356
Technology and communications		9		4		2		-		230			-			245
Net occupancy expense		26		176		10		11		72			-			295
Card and processing expense		3		127		-		-		(1	)		-			129
Equipment expense		18		52		-		-		47			-			117
Other noninterest expense		884		796		210		276		(1,027	)		(132	)		1,007
Total noninterest expense		1,234		1,681		411		468		120			(132	)		3,782
Income before income taxes		1,218		704		26		99		932			-			2,979
Applicable income tax expense		391		249		9		34		116			-			799
Net income		827		455		17		65		816			-			2,180
Total goodwill	$	613		1,655		-		177		-			-			2,445
Total assets	$	58,456		57,931		22,218		9,494		(6,018)(d)			-			142,081

(a) Revenue sharing agreements between wealth and asset management and branch banking are eliminated in the Consolidated Statements of Income.

(b) Includes impairment charges of $7 for branches and land. For more information, refer to Note 8.

(c) Includes impairment charges of $52 for operating lease equipment. For more information, refer to Note 9.

(d) Includes bank premises and equipment of $27 classified as held for sale.