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Segment Reporting
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING
We have three reportable business segments:
•Retail Banking
•Corporate & Institutional Banking
•Asset Management Group

Results of individual businesses are presented based on our internal management reporting practices. There is no comprehensive, authoritative body of guidance for management accounting equivalent to GAAP; therefore, the financial results of our individual businesses are not necessarily comparable with similar information for any other company. We periodically refine our internal methodologies as management reporting practices are enhanced. To the extent significant and practicable, retrospective application of new methodologies is made to prior period reportable business segment results and disclosures to create comparability with the current period.

During the second quarter of 2020, we divested our entire 22.4% investment in BlackRock, which had previously been reported as a separate business segment. See Note 2 Acquisition and Divestiture Activity for additional information on the sale and details on our results and cash flows for 2020, 2019 and 2018.
Total business segment financial results differ from total consolidated net income. These differences are reflected in the “Other” category in the Table 114. “Other” includes residual activities that do not meet the criteria for disclosure as a separate reportable business, such as asset and liability management activities including net securities gains or losses, ACL for investment securities, certain trading activities, certain runoff consumer loan portfolios, private equity investments, intercompany eliminations, certain corporate overhead, tax adjustments that are not allocated to business segments, exited businesses, and differences between business segment performance reporting and financial statement reporting (GAAP). The “Other” category also includes our BlackRock held for sale asset. Assets, revenue and earnings attributable to foreign activities were not material in the periods presented for comparison.

Financial results are presented, to the extent practicable, as if each business operated on a stand-alone basis. Additionally, we have aggregated the results for corporate support functions within “Other” for financial reporting purposes.

Net interest income in business segment results reflects our internal funds transfer pricing methodology. Assets receive a funding charge and liabilities and capital receive a funding credit based on a transfer pricing methodology that incorporates product repricing characteristics, tenor and other factors.

We have allocated ALLL and the allowance for unfunded lending related commitments based on the loan exposures within each business segment’s portfolio. Key reserve assumptions and estimation processes react to and are influenced by observed changes in loan portfolio performance experience, the financial strength of the borrower and economic conditions. Key reserve assumptions are periodically updated.
Table 114: Results of Businesses
Year ended December 31
In millions		Retail
Banking		Corporate &
Institutional
Banking		Asset
Management
Group		OtherConsolidated (a)
2020
Income Statement
Net interest income$5,609 $3,999 $357 $(19)$9,946 
Noninterest income2,519 3,062 854 520 6,955 
Total revenue8,128 7,061 1,211 501 16,901 
Provision for credit losses968 2,088 21 98 3,175 
Depreciation and amortization251 197 45 490 983 
Other noninterest expense5,768 2,659 813 74 9,314 
Income (loss) from continuing operations before income taxes (benefit)
and noncontrolling interests		1,141 2,117 332 (161)3,429 
Income taxes (benefit) from continuing operations 266 433 77 (350)426 
Net income from continuing operations875 1,684 255 189 3,003 
Less: Net income attributable to noncontrolling interests31 10 41 
Net income from continuing operations excluding noncontrolling
interests		$844 $1,674 $255 $189 $2,962 
Average Assets$97,643 $183,189 $8,186 $160,277 $449,295 
2019
Income Statement
Net interest income$5,520 $3,637 $288 $520 $9,965 
Noninterest income2,648 2,537 991 698 6,874 
Total revenue8,168 6,174 1,279 1,218 16,839 
Provision for (recapture of) credit losses517 284 (1)(27)773 
Depreciation and amortization230 198 62 545 1,035 
Other noninterest expense5,781 2,615 877 266 9,539 
Income from continuing operations before income taxes
and noncontrolling interests		1,640 3,077 341 434 5,492 
Income taxes (benefit) from continuing operations377 629 79 (184)901 
Net income from continuing operations1,263 2,448 262 618 4,591 
Less: Net income attributable to noncontrolling interests50 (1)49 
Net income from continuing operations excluding noncontrolling
interests		$1,213 $2,448 $262 $619 $4,542 
Average Assets$92,959 $164,243 $7,360 $135,773 $400,335 
2018
Income Statement
Net interest income$5,119 $3,551 $287 $764 $9,721 
Noninterest income2,631 2,406 892 540 6,469 
Total revenue7,750 5,957 1,179 1,304 16,190 
Provision for (recapture of) credit losses373 85 2 (52)408 
Depreciation and amortization206 186 52 496 940 
Other noninterest expense5,724 2,520 861 251 9,356 
Income from continuing operations before income taxes
and noncontrolling interests		1,447 3,166 264 609 5,486 
Income taxes (benefit) from continuing operations335 658 62 (127)928 
Net income from continuing operations1,112 2,508 202 736 4,558 
Less: Net income attributable to noncontrolling interests48 (3)45 
Net income from continuing operations excluding noncontrolling
interests		$1,064 $2,508 $202 $739 $4,513 
Average Assets $89,739 $154,119 $7,423 $126,954 $378,235 
(a)There were no material intersegment revenues for 2020, 2019 and 2018.

Business Segment Products and Services
Retail Banking provides deposit, lending, brokerage, insurance services, investment management and cash management products and services to consumer and small business customers. Our customers are serviced through our branch network, ATMs, call centers, online banking and mobile channels. The branch network is located primarily in markets across the Mid-Atlantic, Midwest and Southeast. In 2018, Retail Banking launched its national expansion strategy designed to grow customers with digitally-led banking and a thin branch network in markets outside of our existing retail branch network. Deposit products include checking, savings and money market accounts and certificates of deposit. Lending products include residential mortgages, home equity loans and lines of credit,
auto loans, credit cards, education loans and personal and small business loans and lines of credit. The residential mortgage loans are directly originated within our branch network and nationwide, and are typically underwritten to agency and/or third-party standards, and either sold, servicing retained, or held on our balance sheet. Brokerage, investment management and cash management products and services include managed, education, retirement and trust accounts.
Corporate & Institutional Banking provides lending, treasury management, and capital markets-related products and services to mid-sized and large corporations, and government and not-for-profit entities. Lending products include secured and unsecured loans, letters of credit and equipment leases. The Treasury Management business provides payables, receivables, deposit and account services, liquidity and investments, and online and mobile banking products and services to our clients. Capital markets-related products and services include foreign exchange, derivatives, securities underwriting, loan syndications, mergers and acquisitions advisory and equity capital markets advisory related services. We also provide commercial loan servicing and technology solutions for the commercial real estate finance industry. Products and services are provided nationally.

Asset Management Group provides personal wealth management for high net worth and ultra high net worth clients and institutional asset management. The Asset Management group is composed of three distinct operating units:
•Wealth Management provides products and services to individuals and their families including investment and retirement planning, customized investment management, private banking, and trust management and administration for individuals and their families.
•Our Hawthorn unit provides multi-generational family planning including estate, financial, tax planning, fiduciary, investment management and consulting, private banking, personal administrative services, asset custody and customized performance reporting to ultra high net worth clients.
•Institutional asset management provides outsourced chief investment officer, custody, private real estate, cash and fixed income client solutions, and fiduciary retirement advisory services to institutional clients including corporations, healthcare systems, insurance companies, unions, municipalities and non-profits.