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CONDENSED CONSOLIDATED STATEMENTS OF INCOME Unaudited - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest Income    
Interest and fees on loans and leases $ 1,235 $ 1,143
Interest on securities 283 281
Interest on other short-term investments 7 9
Total interest income 1,525 1,433
Interest Expense    
Interest on deposits 166 205
Interest on federal funds purchased 2 12
Interest on other short-term borrowings 6 6
Interest on long-term debt 122 128
Total interest expense 296 351
Net Interest Income 1,229 1,082
Provision for credit losses 640 90
Net Interest Income After Provision for Credit Losses 589 992
Noninterest Income:    
Service charges on deposits 148 131 [1]
Wealth and asset management revenue 134 112 [1]
Commercial banking revenue 124 103 [1]
Mortgage banking net revenue 120 56 [1]
Card and processing revenue 86 79 [1]
Leasing business revenue 73 32 [1]
Other noninterest income 7 [2] 569 [1],[3]
Securities (losses) gains, net (24) 16 [1]
Securities gains, net - non-qualifying hedges on mortgage servicing rights 3 3 [1]
Total noninterest income 671 1,101 [1]
Noninterest expense:    
Compensation and benefits 647 610 [1]
Technology and communications 93 83 [1]
Net occupancy expense 82 [4] 75 [1]
Leasing business expense 35 19 [1]
Equipment expense 32 30 [1]
Marketing expense 31 36 [1]
Card and processing expense 31 31 [1]
Other noninterest expense 249 213
Total noninterest expense 1,200 1,097 [1]
Income Before Income Taxes 60 996
Applicable income tax expense 14 221
Net Income 46 775
Dividends on preferred stock 17 15
Net Income Available to Common Shareholders $ 29 $ 760
Shares Disclosures    
Earnings per share - basic $ 0.04 $ 1.14
Earnings per share - diluted $ 0.04 $ 1.12
Average common shares outstanding - basic 713,555,693 661,057,120
Average common shares outstanding - diluted 720,362,697 670,685,025
[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.
[2] Includes impairment charges of $3 for branches and land. For more information refer to Note 8 and Note 23.
[3] Includes impairment charges of $20 for branches and land. For more information refer to Note 8.
[4] Includes impairment losses and termination charges of $2 for ROU assets related to certain operating leases. For more information refer to Note 10.