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Business Segment Information
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Business Segment Information Business Segment InformationThe Corporation reports its results of operations through the following four business segments: Consumer Banking, Global Wealth & Investment Management, Global Banking and Global Markets, with the remaining operations recorded in All Other. For more information, see Note 23 – Business Segment Information to the Consolidated Financial Statements of the Corporation’s 2022 Annual Report on Form 10-K. 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, 2023 and 2022, and total assets at March 31, 2023 and 2022 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 BankingGlobal Wealth & Investment Management
(Dollars in millions)202320222023202220232022
Net interest income$14,582 $11,678 $8,593 $6,680 $1,876 $1,668 
Noninterest income11,810 11,656 2,113 2,133 3,439 3,808 
Total revenue, net of interest expense26,392 23,334 10,706 8,813 5,315 5,476 
Provision for credit losses931 30 1,089 (52)25 (41)
Noninterest expense16,238 15,319 5,473 4,921 4,067 4,015 
Income before income taxes9,223 7,985 4,144 3,944 1,223 1,502 
Income tax expense1,062 918 1,036 966 306 368 
Net income$8,161 $7,067 $3,108 $2,978 $917 $1,134 
Period-end total assets$3,194,657 $3,238,223 $1,124,438 $1,166,443 $349,888 $433,122 
 Global BankingGlobal MarketsAll Other
 202320222023202220232022
Net interest income$3,907 $2,344 $109 $993 $97 $(7)
Noninterest income2,296 2,850 5,517 4,299 (1,555)(1,434)
Total revenue, net of interest expense6,203 5,194 5,626 5,292 (1,458)(1,441)
Provision for credit losses(237)165 (53)5 107 (47)
Noninterest expense2,940 2,683 3,351 3,117 407 583 
Income before income taxes3,500 2,346 2,328 2,170 (1,972)(1,977)
Income tax expense945 622 640 575 (1,865)(1,613)
Net income$2,555 $1,724 $1,688 $1,595 $(107)$(364)
Period-end total assets$591,231 $623,168 $861,477 $883,304 $267,623 $132,186 
(1)There were no material intersegment revenues.
The table below presents noninterest income and the associated components for the three months ended March 31, 2023 and 2022 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 CorporationConsumer BankingGlobal Wealth &
Investment Management
Three Months Ended March 31
(Dollars in millions)202320222023202220232022
Fees and commissions:
Card income
Interchange fees $956 $935 $753 $743 $— $7 
Other card income 513 468 521 442 12 11 
Total card income1,469 1,403 1,274 1,185 12 18 
Service charges
Deposit-related fees1,097 1,530 599 844 11 19 
Lending-related fees313 303 — — 8 — 
Total service charges1,410 1,833 599 844 19 19 
Investment and brokerage services
Asset management fees2,918 3,286 47 52 2,873 3,234 
Brokerage fees934 1,006 27 31 365 420 
Total investment and brokerage services
3,852 4,292 74 83 3,238 3,654 
Investment banking fees
Underwriting income569 672 — — 39 66 
Syndication fees231 312 — — — — 
Financial advisory services363 473 — — — — 
Total investment banking fees1,163 1,457 — — 39 66 
Total fees and commissions 7,894 8,985 1,947 2,112 3,308 3,757 
Market making and similar activities4,712 3,238 5 — 34 13 
Other income (loss)(796)(567)161 21 97 38 
Total noninterest income$11,810 $11,656 $2,113 $2,133 $3,439 $3,808 
Global BankingGlobal Markets
All Other (1)
Three Months Ended March 31
202320222023202220232022
Fees and commissions:
Card income
Interchange fees $187 $175 $16 $14 $— $(4)
Other card income 3 1 — — (23)14 
Total card income190 176 16 14 (23)10 
Service charges
Deposit-related fees467 637 20 28 — 2 
Lending-related fees247 249 58 54 — — 
Total service charges714 886 78 82 — 2 
Investment and brokerage services
Asset management fees— — — — (2)— 
Brokerage fees9 12 533 545 — (2)
Total investment and brokerage services
9 12 533 545 (2)(2)
Investment banking fees
Underwriting income229 275 314 402 (13)(71)
Syndication fees126 166 105 146 — — 
Financial advisory services313 439 50 34 — — 
Total investment banking fees668 880 469 582 (13)(71)
Total fees and commissions 1,581 1,954 1,096 1,223 (38)(61)
Market making and similar activities45 49 4,398 3,190 230 (14)
Other income (loss)670 847 23 (114)(1,747)(1,359)
Total noninterest income$2,296 $2,850 $5,517 $4,299 $(1,555)$(1,434)
(1)All Other includes eliminations of intercompany transactions.
Business Segment Reconciliations
Three Months Ended March 31
(Dollars in millions)20232022
Segments’ total revenue, net of interest expense$27,850 $24,775 
Adjustments (1):
  
Asset and liability management activities(225)(67)
Liquidating businesses, eliminations and other(1,233)(1,374)
FTE basis adjustment(134)(106)
Consolidated revenue, net of interest expense$26,258 $23,228 
Segments’ total net income8,268 7,431 
Adjustments, net-of-tax (1):
 
Asset and liability management activities(174)(58)
Liquidating businesses, eliminations and other67 (306)
Consolidated net income$8,161 $7,067 
March 31
20232022
Segments’ total assets$2,927,034 $3,106,037 
Adjustments (1):
Asset and liability management activities, including securities portfolio1,229,425 1,281,639 
Elimination of segment asset allocations to match liabilities(1,024,196)(1,216,401)
Other62,394 66,948 
Consolidated total assets$3,194,657 $3,238,223 
(1)Adjustments include consolidated income, expense and asset amounts not specifically allocated to individual business segments.