Segment information (Tables)

12 Months Ended

Dec. 31, 2019

Information about the Company’s segments is presented in the accompanying table. Income statement amounts are in thousands of dollars. Balance sheet amounts are in millions of dollars.

	For the Years Ended December 31, 2019, 2018 and 2017
	Business Banking							Commercial Banking						Commercial Real Estate									Discretionary Portfolio
	2019		2018			2017		2019		2018		2017		2019			2018			2017			2019		2018			2017
Net interest income(a)	$	451,307	$	434,579		$	393,948	$	828,888	$	821,812	$	809,301	$	692,526		$	665,220		$	649,378		$	209,807	$	228,051		$	277,095
Noninterest income		113,855		111,600			112,512		289,558		288,908		283,447		214,970			183,955			169,966			26,919		(9,690	)		23,851
		565,162		546,179			506,460		1,118,446		1,110,720		1,092,748		907,496			849,175			819,344			236,726		218,361			300,946
Provision for credit losses		16,501		10,916			15,598		25,580		8,976		11,876		1,537			3,159			(7,524	)		3,608		6,683			31,119
Amortization of core deposit and other intangible assets		—		—			—		—		—		—		1,060			1,060			1,060			—		—			—
Depreciation and other amortization		412		382			393		554		496		509		25,560			25,852			24,410			263		187			279
Other noninterest expense		319,136		305,340			294,493		384,013		364,102		339,936		240,736			217,387			207,493			52,901		65,393			76,021
Income (loss) before taxes		229,113		229,541			195,976		708,299		737,146		740,427		638,603			601,717			593,905			179,954		146,098			193,527
Income tax expense (benefit)		60,617		61,279			80,043		187,835		198,229		303,556		152,977			148,807			229,770			36,342		29,872			58,559
Net income (loss)	$	168,496	$	168,262		$	115,933	$	520,464	$	538,917	$	436,871	$	485,626		$	452,910		$	364,135		$	143,612	$	116,226		$	134,968
Average total assets (in millions)	$	5,793	$	5,631		$	5,602	$	28,142	$	26,626	$	26,573	$	23,921		$	22,885		$	22,741		$	29,081	$	32,123		$	37,203
Capital expenditures (in millions)	$	1	$	—		$	—	$	2	$	—	$	—	$	—		$	—		$	1		$	—	$	1		$	—

	For the Years Ended December 31, 2019, 2018 and 2017
	Residential Mortgage Banking							Retail Banking						All Other									Total
	2019		2018			2017		2019		2018		2017		2019			2018			2017			2019		2018			2017
Net interest income(a)	$	20,008	$	13,933		$	30,328	$	1,389,788	$	1,351,165	$	1,210,066	$	537,940		$	557,542		$	410,928		$	4,130,264	$	4,072,302		$	3,781,044
Noninterest income		393,372		305,560			321,589		327,562		324,228		329,833		695,443			651,439			609,945			2,061,679		1,856,000			1,851,143
		413,380		319,493			351,917		1,717,350		1,675,393		1,539,899		1,233,383			1,208,981			1,020,873			6,191,943		5,928,302			5,632,187
Provision for credit losses		382		(2,178	)		1,254		122,135		112,572		107,412		6,257			(8,128	)		8,265			176,000		132,000			168,000
Amortization of core deposit and other intangible assets		—		—			—		—		—		—		18,430			23,462			30,306			19,490		24,522			31,366
Depreciation and other amortization		46,901		24,288			32,011		38,394		35,274		38,234		68,840			68,004			69,923			180,924		154,483			165,759
Other noninterest expense		274,414		241,624			247,639		839,636		789,783		758,153		1,157,432			1,125,428			1,019,465			3,268,268		3,109,057			2,943,200
Income (loss) before taxes		91,683		55,759			71,013		717,185		737,764		636,100		(17,576	)		215			(107,086	)		2,547,261		2,508,240			2,323,862
Income tax expense (benefit)		19,355		10,272			25,446		189,611		196,467		258,934		(28,625	)		(54,766	)		(40,752	)		618,112		590,160			915,556
Net income (loss)	$	72,328	$	45,487		$	45,567	$	527,574	$	541,297	$	377,166	$	11,049		$	54,981		$	(66,334	)	$	1,929,149	$	1,918,080		$	1,408,306
Average total assets (in millions)	$	2,611	$	2,161		$	2,355	$	15,083	$	13,656	$	12,702	$	14,953		$	13,877		$	13,684		$	119,584	$	116,959		$	120,860
Capital expenditures (in millions)	$	1	$	1		$	—	$	76	$	31	$	34	$	98		$	65		$	44		$	178	$	98		$	79

(a)

Net interest income is the difference between actual taxable-equivalent interest earned on assets and interest paid on liabilities by a segment and a funding charge (credit) based on the Company’s internal funds transfer pricing methodology. Segments are charged a cost to fund any assets (e.g. loans) and are paid a funding credit for any funds provided (e.g. deposits). The taxable-equivalent adjustment aggregated $22,863,000 in 2019, $21,897,000 in 2018 and $34,570,000 in 2017 and is eliminated in “All Other” net interest income and income tax expense (benefit).

Intersegment Activity Eliminated in Arriving at Consolidated Totals was Included in "All Other" Category

The amount of intersegment activity eliminated in arriving at consolidated totals was included in the “All Other” category as follows:

	Year Ended December 31
	2019			2018			2017
	(In thousands)

Revenues	$	(48,559	)	$	(41,285	)	$	(43,941	)
Expenses		(18,218	)		(24,660	)		(32,623	)
Income taxes (benefit)		(7,976	)		(4,371	)		(4,606	)
Net income (loss)		(22,365	)		(12,254	)		(6,712	)