Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables present 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 the three months ended March 31, 2021 and 2020, and total assets at March 31, 2021 and 2020 for each business segment, as well as All Other, including a reconciliation of the four business segments' total revenue, net of interest expense, on an FTE basis, and net income to the Consolidated Statement of Income, and total assets to the Consolidated Balance Sheet.

Results of Business Segments and All Other
At and for the three months ended March 31	Total Corporation (1)				Consumer Banking				Global Wealth & Investment Management
(Dollars in millions)	2021		2020		2021		2020		2021		2020
Net interest income	$	10,308	$	12,274	$	5,920	$	6,862	$	1,331	$	1,571
Noninterest income	12,624		10,637		2,149		2,267		3,640		3,365
Total revenue, net of interest expense	22,932		22,911		8,069		9,129		4,971		4,936
Provision for credit losses	(1,860)		4,761		(617)		2,258		(65)		189
Noninterest expense	15,515		13,475		5,131		4,496		3,869		3,606
Income before income taxes	9,277		4,675		3,555		2,375		1,167		1,141
Income tax expense	1,227		665		871		582		286		280
Net income	$	8,050	$	4,010	$	2,684	$	1,793	$	881	$	861
Period-end total assets	$	2,969,992	$	2,619,954	$	1,047,413	$	837,522	$	378,655	$	323,867
	Global Banking				Global Markets				All Other
	2021		2020		2021		2020		2021		2020
Net interest income	$	1,980	$	2,612	$	990	$	1,153	$	87	$	76
Noninterest income	2,653		1,988		5,208		4,073		(1,026)		(1,056)
Total revenue, net of interest expense	4,633		4,600		6,198		5,226		(939)		(980)
Provision for credit losses	(1,126)		2,093		(5)		107		(47)		114
Noninterest expense	2,781		2,318		3,427		2,815		307		240
Income before income taxes	2,978		189		2,776		2,304		(1,199)		(1,334)
Income tax expense	804		51		722		599		(1,456)		(847)
Net income	$	2,174	$	138	$	2,054	$	1,705	$	257	$	(487)
Period-end total assets	$	594,235	$	562,529	$	745,681	$	654,939	$	204,008	$	241,097

(1)There were no material intersegment revenues.

The table below presents noninterest income and the associated components for the three months ended March 31, 2021 and 2020 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
	Three Months Ended March 31
(Dollars in millions)	2021		2020		2021		2020		2021		2020
Fees and commissions:
Card income
Interchange fees	$	1,067	$	792	$	835	$	644	$	10	$	8
Other card income	368		480		354		466		9		9
Total card income	1,435		1,272		1,189		1,110		19		17
Service charges
Deposit-related fees	1,495		1,627		831		995		18		17
Lending-related fees	297		276		—		—		—		—
Total service charges	1,792		1,903		831		995		18		17
Investment and brokerage services
Asset management fees	3,002		2,682		41		38		2,961		2,652
Brokerage fees	1,061		1,076		36		32		430		470
Total investment and brokerage services	4,063		3,758		77		70		3,391		3,122
Investment banking fees
Underwriting income	1,546		848		—		—		135		115
Syndication fees	300		271		—		—		—		—
Financial advisory services	400		269		—		—		—		—
Total investment banking fees	2,246		1,388		—		—		135		115
Total fees and commissions	9,536		8,321		2,097		2,175		3,563		3,271
Market making and similar activities	3,529		2,807		—		1		11		21
Other income (loss)	(441)		(491)		52		91		66		73
Total noninterest income	$	12,624	$	10,637	$	2,149	$	2,267	$	3,640	$	3,365
	Global Banking				Global Markets				All Other (1)
	Three Months Ended March 31
	2021		2020		2021		2020		2021		2020
Fees and commissions:
Card income
Interchange fees	$	146	$	119	$	76	$	21	$	—	$	—
Other card income	4		4		—		—		1		1
Total card income	150		123		76		21		1		1
Service charges
Deposit-related fees	602		572		42		35		2		8
Lending-related fees	245		224		52		52		—		—
Total service charges	847		796		94		87		2		8
Investment and brokerage services
Asset management fees	—		—		—		—		—		(8)
Brokerage fees	41		7		560		567		(6)		—
Total investment and brokerage services	41		7		560		567		(6)		(8)
Investment banking fees
Underwriting income	654		368		799		455		(42)		(90)
Syndication fees	161		146		139		125		—		—
Financial advisory services	357		247		43		22		—		—
Total investment banking fees	1,172		761		981		602		(42)		(90)
Total fees and commissions	2,210		1,687		1,711		1,277		(45)		(89)
Market making and similar activities	31		87		3,470		2,973		17		(275)
Other income (loss)	412		214		27		(177)		(998)		(692)
Total noninterest income	$	2,653	$	1,988	$	5,208	$	4,073	$	(1,026)	$	(1,056)

(1)All Other includes eliminations of intercompany transactions.

Business Segment Reconciliations
	Three Months Ended March 31
(Dollars in millions)	2021		2020
Segments’ total revenue, net of interest expense	$	23,871	$	23,891
Adjustments (1):
Asset and liability management activities	109		(85)
Liquidating businesses, eliminations and other	(1,048)		(895)
FTE basis adjustment	(111)		(144)
Consolidated revenue, net of interest expense	$	22,821	$	22,767
Segments’ total net income	7,793		4,497
Adjustments, net-of-tax (1):
Asset and liability management activities	83		(77)
Liquidating businesses, eliminations and other	174		(410)
Consolidated net income	$	8,050	$	4,010
	March 31
	2021		2020
Segments’ total assets	$	2,765,984	$	2,378,857
Adjustments (1):
Asset and liability management activities, including securities portfolio	1,226,930		840,187
Elimination of segment asset allocations to match liabilities	(1,086,268)		(665,802)
Other	63,346		66,712
Consolidated total assets	$	2,969,992	$	2,619,954

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