Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables present net income 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, 2022 and 2021, and total assets at March 31, 2022 and 2021 for each business segment, as well as All Other.

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)	2022		2021		2022		2021		2022		2021
Net interest income	$	11,678	$	10,308	$	6,680	$	5,920	$	1,668	$	1,331
Noninterest income	11,656		12,624		2,133		2,149		3,808		3,640
Total revenue, net of interest expense	23,334		22,932		8,813		8,069		5,476		4,971
Provision for credit losses	30		(1,860)		(52)		(617)		(41)		(65)
Noninterest expense	15,319		15,515		4,921		5,131		4,015		3,867
Income before income taxes	7,985		9,277		3,944		3,555		1,502		1,169
Income tax expense	918		1,227		966		871		368		286
Net income	$	7,067	$	8,050	$	2,978	$	2,684	$	1,134	$	883
Period-end total assets	$	3,238,223	$	2,969,992	$	1,166,443	$	1,047,413	$	433,122	$	378,654
	Global Banking				Global Markets				All Other
	2022		2021		2022		2021		2022		2021
Net interest income	$	2,344	$	1,980	$	993	$	990	$	(7)	$	87
Noninterest income	2,850		2,653		4,299		5,208		(1,434)		(1,026)
Total revenue, net of interest expense	5,194		4,633		5,292		6,198		(1,441)		(939)
Provision for credit losses	165		(1,126)		5		(5)		(47)		(47)
Noninterest expense	2,683		2,782		3,117		3,427		583		308
Income before income taxes	2,346		2,977		2,170		2,776		(1,977)		(1,200)
Income tax expense	622		804		575		722		(1,613)		(1,456)
Net income	$	1,724	$	2,173	$	1,595	$	2,054	$	(364)	$	256
Period-end total assets	$	623,168	$	594,235	$	883,304	$	745,681	$	132,186	$	204,009

(1)There were no material intersegment revenues

The table below presents noninterest income and the associated components for the three months ended March 31, 2022 and 2021 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)	2022		2021		2022		2021		2022		2021
Fees and commissions:
Card income
Interchange fees	$	935	$	1,067	$	743	$	835	$	7	$	10
Other card income	468		368		442		354		11		9
Total card income	1,403		1,435		1,185		1,189		18		19
Service charges
Deposit-related fees	1,530		1,495		844		831		19		18
Lending-related fees	303		297		—		—		—		—
Total service charges	1,833		1,792		844		831		19		18
Investment and brokerage services
Asset management fees	3,286		3,002		52		41		3,234		2,961
Brokerage fees	1,006		1,061		31		36		420		430
Total investment and brokerage services	4,292		4,063		83		77		3,654		3,391
Investment banking fees
Underwriting income	672		1,546		—		—		66		135
Syndication fees	312		300		—		—		—		—
Financial advisory services	473		400		—		—		—		—
Total investment banking fees	1,457		2,246		—		—		66		135
Total fees and commissions	8,985		9,536		2,112		2,097		3,757		3,563
Market making and similar activities	3,238		3,529		—		—		13		11
Other income (loss)	(567)		(441)		21		52		38		66
Total noninterest income	$	11,656	$	12,624	$	2,133	$	2,149	$	3,808	$	3,640
	Global Banking				Global Markets				All Other (1)
	Three Months Ended March 31
	2022		2021		2022		2021		2022		2021
Fees and commissions:
Card income
Interchange fees	$	175	$	146	$	14	$	76	$	(4)	$	—
Other card income	1		4		—		—		14		1
Total card income	176		150		14		76		10		1
Service charges
Deposit-related fees	637		602		28		42		2		2
Lending-related fees	249		245		54		52		—		—
Total service charges	886		847		82		94		2		2
Investment and brokerage services
Asset management fees	—		—		—		—		—		—
Brokerage fees	12		41		545		560		(2)		(6)
Total investment and brokerage services	12		41		545		560		(2)		(6)
Investment banking fees
Underwriting income	275		654		402		799		(71)		(42)
Syndication fees	166		161		146		139		—		—
Financial advisory services	439		357		34		43		—		—
Total investment banking fees	880		1,172		582		981		(71)		(42)
Total fees and commissions	1,954		2,210		1,223		1,711		(61)		(45)
Market making and similar activities	49		31		3,190		3,470		(14)		17
Other income (loss)	847		412		(114)		27		(1,359)		(998)
Total noninterest income	$	2,850	$	2,653	$	4,299	$	5,208	$	(1,434)	$	(1,026)

(1)All Other includes eliminations of intercompany transactions.

Business Segment Reconciliations
	Three Months Ended March 31
(Dollars in millions)	2022		2021
Segments’ total revenue, net of interest expense	$	24,775	$	23,871
Adjustments (1):
Asset and liability management activities	(67)		109
Liquidating businesses, eliminations and other	(1,374)		(1,048)
FTE basis adjustment	(106)		(111)
Consolidated revenue, net of interest expense	$	23,228	$	22,821
Segments’ total net income	7,431		7,794
Adjustments, net-of-tax (1):
Asset and liability management activities	(58)		83
Liquidating businesses, eliminations and other	(306)		173
Consolidated net income	$	7,067	$	8,050
	March 31
	2022		2021
Segments’ total assets	$	3,106,037	$	2,765,983
Adjustments (1):
Asset and liability management activities, including securities portfolio	1,281,639		1,226,930
Elimination of segment asset allocations to match liabilities	(1,216,401)		(1,086,268)
Other	66,948		63,347
Consolidated total assets	$	3,238,223	$	2,969,992

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