Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

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 2022, 2021 and 2020, and total assets at December 31, 2022, 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)		2022		2021		2020		2022		2021		2020
Net interest income		$	52,900	$	43,361	$	43,859	$	30,045	$	24,929	$	24,698
Noninterest income		42,488		46,179		42,168		8,590		9,076		8,564
Total revenue, net of interest expense		95,388		89,540		86,027		38,635		34,005		33,262
Provision for credit losses		2,543		(4,594)		11,320		1,980		(1,035)		5,765
Noninterest expense		61,438		59,731		55,213		20,077		19,290		18,882
Income before income taxes		31,407		34,403		19,494		16,578		15,750		8,615
Income tax expense		3,879		2,425		1,600		4,062		3,859		2,111
Net income		$	27,528	$	31,978	$	17,894	$	12,516	$	11,891	$	6,504
Year-end total assets		$	3,051,375	$	3,169,495			$	1,126,453	$	1,131,142

	Global Wealth & Investment Management					Global Banking
		2022		2021		2020		2022		2021		2020
Net interest income		$	7,466	$	5,664	$	5,468	$	12,184	$	8,511	$	9,013
Noninterest income		14,282		15,084		13,116		10,045		12,364		9,974
Total revenue, net of interest expense		21,748		20,748		18,584		22,229		20,875		18,987
Provision for credit losses		66		(241)		357		641		(3,201)		4,897
Noninterest expense		15,490		15,258		14,160		10,966		10,632		9,342
Income before income taxes		6,192		5,731		4,067		10,622		13,444		4,748
Income tax expense		1,517		1,404		996		2,815		3,630		1,282
Net income		$	4,675	$	4,327	$	3,071	$	7,807	$	9,814	$	3,466
Year-end total assets		$	368,893	$	438,275			$	588,466	$	638,131

	Global Markets					All Other
		2022		2021		2020		2022		2021		2020
Net interest income		$	3,088	$	4,011	$	4,646	$	117	$	246	$	34
Noninterest income		15,050		15,244		14,119		(5,479)		(5,589)		(3,605)
Total revenue, net of interest expense		18,138		19,255		18,765		(5,362)		(5,343)		(3,571)
Provision for credit losses		28		65		251		(172)		(182)		50
Noninterest expense		12,420		13,032		11,417		2,485		1,519		1,412
Income (loss) before income taxes		5,690		6,158		7,097		(7,675)		(6,680)		(5,033)
Income tax expense (benefit)		1,508		1,601		1,845		(6,023)		(8,069)		(4,634)
Net income (loss)		$	4,182	$	4,557	$	5,252	$	(1,652)	$	1,389	$	(399)
Year-end total assets		$	812,489	$	747,794			$	155,074	$	214,153

(1)There were no material intersegment revenues.

The tables below present noninterest income and the associated components for 2022, 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

(Dollars in millions)	2022		2021		2020		2022		2021		2020		2022		2021		2020
Fees and commissions:
Card income
Interchange fees	$	4,096	$	4,560	$	3,954	$	3,239	$	3,597	$	3,027	$	20	$	43	$	36
Other card income	1,987		1,658		1,702		1,930		1,575		1,646		50		42		42
Total card income	6,083		6,218		5,656		5,169		5,172		4,673		70		85		78
Service charges
Deposit-related fees	5,190		6,271		5,991		2,706		3,538		3,417		65		72		67
Lending-related fees	1,215		1,233		1,150		—		—		—		8		—		—
Total service charges	6,405		7,504		7,141		2,706		3,538		3,417		73		72		67
Investment and brokerage services
Asset management fees	12,152		12,729		10,708		195		188		146		11,957		12,541		10,578
Brokerage fees	3,749		3,961		3,866		109		132		127		1,604		1,771		1,692
Total investment and brokerage services	15,901		16,690		14,574		304		320		273		13,561		14,312		12,270
Investment banking fees
Underwriting income	1,970		5,077		4,698		—		—		—		189		388		391
Syndication fees	1,070		1,499		861		—		—		—		—		—		—
Financial advisory services	1,783		2,311		1,621		—		—		—		—		—		—
Total investment banking fees	4,823		8,887		7,180		—		—		—		189		388		391
Total fees and commissions	33,212		39,299		34,551		8,179		9,030		8,363		13,893		14,857		12,806
Market making and similar activities	12,075		8,691		8,355		10		1		2		102		40		63
Other income (loss)	(2,799)		(1,811)		(738)		401		45		199		287		187		247
Total noninterest income	$	42,488	$	46,179	$	42,168	$	8,590	$	9,076	$	8,564	$	14,282	$	15,084	$	13,116


	Global Banking						Global Markets						All Other (1)

	2022		2021		2020		2022		2021		2020		2022		2021		2020
Fees and commissions:
Card income
Interchange fees	$	767	$	700	$	499	$	66	$	220	$	391	$	4	$	—	$	1
Other card income	7		13		14		—		—		—		—		28		—
Total card income	774		713		513		66		220		391		4		28		1
Service charges
Deposit-related fees	2,310		2,508		2,298		101		146		177		8		7		32
Lending-related fees	983		1,015		940		224		218		210		—		—		—
Total service charges	3,293		3,523		3,238		325		364		387		8		7		32
Investment and brokerage services
Asset management fees	—		—		—		—		—		—		—		—		(16)
Brokerage fees	42		104		74		2,002		1,979		1,973		(8)		(25)		—
Total investment and brokerage services	42		104		74		2,002		1,979		1,973		(8)		(25)		(16)
Investment banking fees
Underwriting income	796		2,187		2,070		1,176		2,725		2,449		(191)		(223)		(212)
Syndication fees	565		781		482		505		718		379		—		—		—
Financial advisory services	1,643		2,139		1,458		139		173		163		1		(1)		—
Total investment banking fees	3,004		5,107		4,010		1,820		3,616		2,991		(190)		(224)		(212)
Total fees and commissions	7,113		9,447		7,835		4,213		6,179		5,742		(186)		(214)		(195)
Market making and similar activities	215		145		103		11,406		8,760		8,471		342		(255)		(284)
Other income (loss)	2,717		2,772		2,036		(569)		305		(94)		(5,635)		(5,120)		(3,126)
Total noninterest income	$	10,045	$	12,364	$	9,974	$	15,050	$	15,244	$	14,119	$	(5,479)	$	(5,589)	$	(3,605)

(1)All Other includes eliminations of intercompany transactions.



Business Segment Reconciliations


(Dollars in millions)	2022		2021		2020
Segments’ total revenue, net of interest expense	$	100,750	$	94,883	$	89,598
Adjustments (1):
Asset and liability management activities	(164)		(4)		375
Liquidating businesses, eliminations and other	(5,198)		(5,339)		(3,946)
FTE basis adjustment	(438)		(427)		(499)
Consolidated revenue, net of interest expense	$	94,950	$	89,113	$	85,528
Segments’ total net income	29,180		30,589		18,293
Adjustments, net-of-tax (1):
Asset and liability management activities	(122)		11		279
Liquidating businesses, eliminations and other	(1,530)		1,378		(678)
Consolidated net income	$	27,528	$	31,978	$	17,894

	December 31
			2022		2021
Segments’ total assets			$	2,896,301	$	2,955,342
Adjustments (1):
Asset and liability management activities, including securities portfolio			1,133,375		1,363,626
Elimination of segment asset allocations to match liabilities			(1,041,793)		(1,216,891)

Other			63,492		67,418
Consolidated total assets			$	3,051,375	$	3,169,495

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