Performance by Geographical Area

12 Months Ended

Dec. 31, 2023

Segments, Geographical Areas [Abstract]

Performance by Geographical Area

Performance by Geographical Area

The Corporation’s operations are highly integrated with operations in both U.S. and non-U.S. markets. The non-U.S. business activities are largely conducted in Europe, the Middle East and Africa and in Asia. The Corporation identifies its geographic performance based on the business unit structure used to manage the capital or expense deployed in the region

as applicable. This requires certain judgments related to the allocation of revenue so that revenue can be appropriately matched with the related capital or expense deployed in the region. Certain asset, liability, income and expense amounts have been allocated to arrive at total assets, total revenue, net of interest expense, income before income taxes and net income by geographic area as presented below.

(Dollars in millions)		Total Assets at Year End (1)		Total Revenue, Net of Interest Expense (2)		Income Before Income Taxes		Net Income
U.S. (3)	2023	$	2,768,003	$	85,571	$	24,525	$	23,656
	2022	2,631,815		82,890		28,135		25,607
	2021			78,012		31,392		27,781
Asia	2023	139,967		4,952		1,512		1,139
	2022	127,399		4,597		1,144		865
	2021			4,439		988		733
Europe, Middle East and Africa	2023	238,052		6,393		1,540		1,098
	2022	262,856		6,044		1,121		689
	2021			5,423		1,097		3,134
Latin America and the Caribbean	2023	34,129		1,665		765		622
	2022	29,305		1,419		569		367
	2021			1,239		499		330
Total Non-U.S.	2023	412,148		13,010		3,817		2,859
	2022	419,560		12,060		2,834		1,921
	2021			11,101		2,584		4,197
Total Consolidated	2023	$	3,180,151	$	98,581	$	28,342	$	26,515
	2022	3,051,375		94,950		30,969		27,528
	2021			89,113		33,976		31,978

(1)Total assets include long-lived assets, which are primarily located in the U.S.

(2)There were no material intercompany revenues between geographic regions for any of the periods presented.

(3)Substantially reflects the U.S.