Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Segment Reporting Information, by Segment

The following table presents net income (loss) and the components thereto (with net interest income on an FTE basis for the business segments, All Other and the total Corporation) for 2020, 2019 and 2018, and total assets at December 31, 2020 and 2019 for each business segment, as well as All Other.



Results of Business Segments and All Other

At and for the year ended December 31	Total Corporation (1)					Consumer Banking
(Dollars in millions)		2020		2019		2018		2020		2019		2018
Net interest income		$	43,859	$	49,486	$	48,772	$	24,698	$	28,158	$	27,025
Noninterest income		42,168		42,353		42,858		8,564		10,429		10,593
Total revenue, net of interest expense		86,027		91,839		91,630		33,262		38,587		37,618
Provision for credit losses		11,320		3,590		3,282		5,765		3,772		3,664
Noninterest expense		55,213		54,900		53,154		18,878		17,646		17,672
Income before income taxes		19,494		33,349		35,194		8,619		17,169		16,282
Income tax expense		1,600		5,919		7,047		2,112		4,207		4,150
Net income		$	17,894	$	27,430	$	28,147	$	6,507	$	12,962	$	12,132
Period-end total assets		$	2,819,627	$	2,434,079			$	988,580	$	804,093

	Global Wealth & Investment Management					Global Banking
		2020		2019		2018		2020		2019		2018
Net interest income		$	5,468	$	6,504	$	6,265	$	9,013	$	10,675	$	10,993
Noninterest income		13,116		13,034		13,188		9,974		9,808		9,008
Total revenue, net of interest expense		18,584		19,538		19,453		18,987		20,483		20,001
Provision for credit losses		357		82		86		4,897		414		8
Noninterest expense		14,154		13,825		14,015		9,337		9,011		8,745
Income before income taxes		4,073		5,631		5,352		4,753		11,058		11,248
Income tax expense		998		1,380		1,364		1,283		2,985		2,923
Net income		$	3,075	$	4,251	$	3,988	$	3,470	$	8,073	$	8,325
Period-end total assets		$	369,736	$	299,770			$	580,561	$	464,032

	Global Markets					All Other
		2020		2019		2018		2020		2019		2018
Net interest income		$	4,646	$	3,915	$	3,857	$	34	$	234	$	632
Noninterest income		14,120		11,699		12,326		(3,606)		(2,617)		(2,257)
Total revenue, net of interest expense		18,766		15,614		16,183		(3,572)		(2,383)		(1,625)
Provision for credit losses		251		(9)		—		50		(669)		(476)
Noninterest expense		11,422		10,728		10,835		1,422		3,690		1,887
Income (loss) before income taxes		7,093		4,895		5,348		(5,044)		(5,404)		(3,036)
Income tax expense (benefit)		1,844		1,395		1,390		(4,637)		(4,048)		(2,780)
Net income (loss)		$	5,249	$	3,500	$	3,958	$	(407)	$	(1,356)	$	(256)
Period-end total assets		$	616,609	$	641,809			$	264,141	$	224,375

(1)There were no material intersegment revenues.

The table below presents noninterest income and the associated components for 2020, 2019 and 2018 for each business segment, All Other and the total Corporation. For more information, see Note 2 – Net Interest Income and Noninterest Income.



Noninterest Income by Business Segment and All Other

	Total Corporation						Consumer Banking						Global Wealth & Investment Management

(Dollars in millions)	2020		2019		2018		2020		2019		2018		2020		2019		2018
Fees and commissions:
Card income
Interchange fees	$	3,954	$	3,834	$	3,866	$	3,027	$	3,174	$	3,196	$	36	$	59	$	81
Other card income	1,702		1,963		1,958		1,646		1,910		1,907		42		42		46
Total card income	5,656		5,797		5,824		4,673		5,084		5,103		78		101		127
Service charges
Deposit-related fees	5,991		6,588		6,667		3,417		4,218		4,300		67		68		73
Lending-related fees	1,150		1,086		1,100		—		—		—		—		—		—
Total service charges	7,141		7,674		7,767		3,417		4,218		4,300		67		68		73
Investment and brokerage services
Asset management fees	10,708		10,241		10,189		146		144		147		10,578		10,130		10,042
Brokerage fees	3,866		3,661		3,971		127		149		172		1,692		1,740		1,917
Total investment and brokerage services	14,574		13,902		14,160		273		293		319		12,270		11,870		11,959
Investment banking fees
Underwriting income	4,698		2,998		2,722		—		—		—		391		401		335
Syndication fees	861		1,184		1,347		—		—		—		—		—		—
Financial advisory services	1,621		1,460		1,258		—		—		—		—		—		2
Total investment banking fees	7,180		5,642		5,327		—		—		—		391		401		337
Total fees and commissions	34,551		33,015		33,078		8,363		9,595		9,722		12,806		12,440		12,496
Market making and similar activities	8,355		9,034		9,008		2		6		8		63		113		112
Other income (loss)	(738)		304		772		199		828		863		247		481		580
Total noninterest income	$	42,168	$	42,353	$	42,858	$	8,564	$	10,429	$	10,593	$	13,116	$	13,034	$	13,188


	Global Banking						Global Markets						All Other (1)

	2020		2019		2018		2020		2019		2018		2020		2019		2018
Fees and commissions:
Card income
Interchange fees	$	499	$	519	$	503	$	391	$	81	$	86	$	1	$	1	$	—
Other card income	14		13		8		—		(1)		(2)		—		(1)		(1)
Total card income	513		532		511		391		80		84		1		—		(1)
Service charges
Deposit-related fees	2,298		2,121		2,111		177		156		161		32		25		22
Lending-related fees	940		894		916		210		192		184		—		—		—
Total service charges	3,238		3,015		3,027		387		348		345		32		25		22
Investment and brokerage services
Asset management fees	—		—		—		—		—		—		(16)		(33)		—
Brokerage fees	74		34		94		1,973		1,738		1,780		—		—		8
Total investment and brokerage services	74		34		94		1,973		1,738		1,780		(16)		(33)		8
Investment banking fees
Underwriting income	2,070		1,227		1,090		2,449		1,555		1,495		(212)		(185)		(198)
Syndication fees	482		574		648		379		610		698		—		—		1
Financial advisory services	1,458		1,336		1,153		163		123		103		—		1		—
Total investment banking fees	4,010		3,137		2,891		2,991		2,288		2,296		(212)		(184)		(197)
Total fees and commissions	7,835		6,718		6,523		5,742		4,454		4,505		(195)		(192)		(168)
Market making and similar activities	103		235		260		8,471		7,065		7,260		(284)		1,615		1,368
Other income (loss)	2,036		2,855		2,225		(93)		180		561		(3,127)		(4,040)		(3,457)
Total noninterest income	$	9,974	$	9,808	$	9,008	$	14,120	$	11,699	$	12,326	$	(3,606)	$	(2,617)	$	(2,257)

(1)All Other includes eliminations of intercompany transactions.



Business Segment Reconciliations


(Dollars in millions)	2020		2019		2018
Segments’ total revenue, net of interest expense	$	89,599	$	94,222	$	93,255
Adjustments (1):
ALM activities	375		241		(325)
Liquidating businesses, eliminations and other	(3,947)		(2,624)		(1,300)
FTE basis adjustment	(499)		(595)		(610)
Consolidated revenue, net of interest expense	$	85,528	$	91,244	$	91,020
Segments’ total net income	18,301		28,786		28,403
Adjustments, net-of-tax (1):
ALM activities	279		202		(222)
Liquidating businesses, eliminations and other	(686)		(1,558)		(34)
Consolidated net income	$	17,894	$	27,430	$	28,147

			December 31
			2020		2019
Segments’ total assets			$	2,555,486	$	2,209,704
Adjustments (1):
ALM activities, including securities portfolio			1,176,071		721,806
Elimination of segment asset allocations to match liabilities			(977,685)		(565,378)

Other			65,755		67,947
Consolidated total assets			$	2,819,627	$	2,434,079

(1)Adjustments include consolidated income, expense and asset amounts not specifically allocated to individual business segments.