Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Segment Reporting Information, by Segment

The table below 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 2021, 2020 and 2019, and total assets at December 31, 2021 and 2020 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)		2021		2020		2019		2021		2020		2019
Net interest income		$	43,361	$	43,859	$	49,486	$	24,929	$	24,698	$	28,158
Noninterest income		46,179		42,168		42,353		9,076		8,564		10,429
Total revenue, net of interest expense		89,540		86,027		91,839		34,005		33,262		38,587
Provision for credit losses		(4,594)		11,320		3,590		(1,035)		5,765		3,772
Noninterest expense		59,731		55,213		54,900		19,290		18,882		17,646
Income before income taxes		34,403		19,494		33,349		15,750		8,615		17,169
Income tax expense		2,425		1,600		5,919		3,859		2,111		4,207
Net income		$	31,978	$	17,894	$	27,430	$	11,891	$	6,504	$	12,962
Period-end total assets		$	3,169,495	$	2,819,627			$	1,131,142	$	988,580

	Global Wealth & Investment Management					Global Banking
		2021		2020		2019		2021		2020		2019
Net interest income		$	5,664	$	5,468	$	6,504	$	8,511	$	9,013	$	10,675
Noninterest income		15,084		13,116		13,034		12,364		9,974		9,808
Total revenue, net of interest expense		20,748		18,584		19,538		20,875		18,987		20,483
Provision for credit losses		(241)		357		82		(3,201)		4,897		414
Noninterest expense		15,258		14,160		13,825		10,632		9,342		9,011
Income before income taxes		5,731		4,067		5,631		13,444		4,748		11,058
Income tax expense		1,404		996		1,380		3,630		1,282		2,985
Net income		$	4,327	$	3,071	$	4,251	$	9,814	$	3,466	$	8,073
Period-end total assets		$	438,275	$	369,736			$	638,131	$	580,561

	Global Markets					All Other
		2021		2020		2019		2021		2020		2019
Net interest income		$	4,011	$	4,646	$	3,915	$	246	$	34	$	234
Noninterest income		15,244		14,119		11,699		(5,589)		(3,605)		(2,617)
Total revenue, net of interest expense		19,255		18,765		15,614		(5,343)		(3,571)		(2,383)
Provision for credit losses		65		251		(9)		(182)		50		(669)
Noninterest expense		13,032		11,417		10,728		1,519		1,412		3,690
Income (loss) before income taxes		6,158		7,097		4,895		(6,680)		(5,033)		(5,404)
Income tax expense (benefit)		1,601		1,845		1,395		(8,069)		(4,634)		(4,048)
Net income (loss)		$	4,557	$	5,252	$	3,500	$	1,389	$	(399)	$	(1,356)
Period-end total assets		$	747,794	$	616,609			$	214,153	$	264,141

(1)There were no material intersegment revenues

The tables below present noninterest income and the associated components for 2021, 2020 and 2019 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)	2021		2020		2019		2021		2020		2019		2021		2020		2019
Fees and commissions:
Card income
Interchange fees	$	4,560	$	3,954	$	3,834	$	3,597	$	3,027	$	3,174	$	43	$	36	$	59
Other card income	1,658		1,702		1,963		1,575		1,646		1,910		42		42		42
Total card income	6,218		5,656		5,797		5,172		4,673		5,084		85		78		101
Service charges
Deposit-related fees	6,271		5,991		6,588		3,538		3,417		4,218		72		67		68
Lending-related fees	1,233		1,150		1,086		—		—		—		—		—		—
Total service charges	7,504		7,141		7,674		3,538		3,417		4,218		72		67		68
Investment and brokerage services
Asset management fees	12,729		10,708		10,241		188		146		144		12,541		10,578		10,130
Brokerage fees	3,961		3,866		3,661		132		127		149		1,771		1,692		1,740
Total investment and brokerage services	16,690		14,574		13,902		320		273		293		14,312		12,270		11,870
Investment banking fees
Underwriting income	5,077		4,698		2,998		—		—		—		388		391		401
Syndication fees	1,499		861		1,184		—		—		—		—		—		—
Financial advisory services	2,311		1,621		1,460		—		—		—		—		—		—
Total investment banking fees	8,887		7,180		5,642		—		—		—		388		391		401
Total fees and commissions	39,299		34,551		33,015		9,030		8,363		9,595		14,857		12,806		12,440
Market making and similar activities	8,691		8,355		9,034		1		2		6		40		63		113
Other income (loss)	(1,811)		(738)		304		45		199		828		187		247		481
Total noninterest income	$	46,179	$	42,168	$	42,353	$	9,076	$	8,564	$	10,429	$	15,084	$	13,116	$	13,034


	Global Banking						Global Markets						All Other (1)

	2021		2020		2019		2021		2020		2019		2021		2020		2019
Fees and commissions:
Card income
Interchange fees	$	700	$	499	$	519	$	220	$	391	$	81	$	—	$	1	$	1
Other card income	13		14		13		—		—		(1)		28		—		(1)
Total card income	713		513		532		220		391		80		28		1		—
Service charges
Deposit-related fees	2,508		2,298		2,121		146		177		156		7		32		25
Lending-related fees	1,015		940		894		218		210		192		—		—		—
Total service charges	3,523		3,238		3,015		364		387		348		7		32		25
Investment and brokerage services
Asset management fees	—		—		—		—		—		—		—		(16)		(33)
Brokerage fees	104		74		34		1,979		1,973		1,738		(25)		—		—
Total investment and brokerage services	104		74		34		1,979		1,973		1,738		(25)		(16)		(33)
Investment banking fees
Underwriting income	2,187		2,070		1,227		2,725		2,449		1,555		(223)		(212)		(185)
Syndication fees	781		482		574		718		379		610		—		—		—
Financial advisory services	2,139		1,458		1,336		173		163		123		(1)		—		1
Total investment banking fees	5,107		4,010		3,137		3,616		2,991		2,288		(224)		(212)		(184)
Total fees and commissions	9,447		7,835		6,718		6,179		5,742		4,454		(214)		(195)		(192)
Market making and similar activities	145		103		235		8,760		8,471		7,065		(255)		(284)		1,615
Other income (loss)	2,772		2,036		2,855		305		(94)		180		(5,120)		(3,126)		(4,040)
Total noninterest income	$	12,364	$	9,974	$	9,808	$	15,244	$	14,119	$	11,699	$	(5,589)	$	(3,605)	$	(2,617)

(1)All Other includes eliminations of intercompany transactions.



Business Segment Reconciliations


(Dollars in millions)	2021		2020		2019
Segments’ total revenue, net of interest expense	$	94,883	$	89,598	$	94,222
Adjustments (1):
Asset and liability management activities	(4)		375		241
Liquidating businesses, eliminations and other	(5,339)		(3,946)		(2,624)
FTE basis adjustment	(427)		(499)		(595)
Consolidated revenue, net of interest expense	$	89,113	$	85,528	$	91,244
Segments’ total net income	30,589		18,293		28,786
Adjustments, net-of-tax (1):
Asset and liability management activities	11		279		202
Liquidating businesses, eliminations and other	1,378		(678)		(1,558)
Consolidated net income	$	31,978	$	17,894	$	27,430

	December 31
			2021		2020
Segments’ total assets			$	2,955,342	$	2,555,486
Adjustments (1):
Asset and liability management activities, including securities portfolio			1,363,626		1,176,071
Elimination of segment asset allocations to match liabilities			(1,216,891)		(977,685)

Other			67,418		65,755
Consolidated total assets			$	3,169,495	$	2,819,627

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