Our revenue includes net interest income on financial instruments and noninterest income. Table 17.1 presents our revenue by operating segment. The Other segment for each of the tables below includes the elimination of certain items that are included in more than one business segment, most of which represents products and services for WIM customers served through Consumer Banking distribution channels. For additional description of our operating segments, including additional financial information and the underlying management accounting process, see Note 21 (Operating Segments) to Financial Statements in this Report.

Table 17.1: Revenue by Operating Segment



	Quarter ended Sep 30,
	Community Banking					Wholesale Banking				Wealth and Investment Management				Other				Consolidated Company
(in millions)	2018			2017		2018		2017		2018		2017		2018		2017		2018	2017
Net interest income (1)	$	7,338		7,154		4,726		4,763		1,102		1,177		(594	)	(645	)	12,572	12,449
Noninterest income:
Service charges on deposit accounts	700			739		505		538		3		3		(4	)	(4	)	1,204	1,276
Trust and investment fees:
Brokerage advisory, commissions and other fees	470			461		79		65		2,268		2,241		(483	)	(463	)	2,334	2,304
Trust and investment management	231			225		112		129		727		718		(235	)	(232	)	835	840
Investment banking	(17		)	(13	)	476		479		3		(1	)	—		—		462	465
Total trust and investment fees	684			673		667		673		2,998		2,958		(718	)	(695	)	3,631	3,609
Card fees	925			909		92		91		1		1		(1	)	(1	)	1,017	1,000
Other fees:
Charges and fees on loans (1)	65			72		233		246		—		1		—		(1	)	298	318
Cash network fees	121			125		—		1		—		—		—		—		121	126
Commercial real estate brokerage commissions	—			1		129		119		—		—		—		—		129	120
Letters of credit fees (1)	2			1		70		76		1		1		(1	)	(1	)	72	77
Wire transfer and other remittance fees	67			60		52		52		2		3		(1	)	(1	)	120	114
All other fees	89			103		20		19		1		—		—		—		110	122
Total other fees	344			362		504		513		4		5		(2	)	(3	)	850	877
Mortgage banking (1)	747			937		101		110		(3	)	(3	)	1		2		846	1,046
Insurance (1)	21			35		76		225		19		21		(12	)	(12	)	104	269
Net gains (losses) from trading activities (1)	10			(58	)	135		157		13		21		—		—		158	120
Net gains (losses) on debt securities (1)	1			169		53		(5	)	3		2		—		—		57	166
Net gains from equity securities (1)	274			270		50		40		92		53		—		—		416	363
Lease income (1)	—			—		453		475		—		—		—		—		453	475
Other income of the segment (1)	772			330		(58	)	(76	)	(6	)	18		(75	)	(73	)	633	199
Total noninterest income	4,478			4,366		2,578		2,741		3,124		3,079		(811	)	(786	)	9,369	9,400
Revenue	$	11,816		11,520		7,304		7,504		4,226		4,256		(1,405	)	(1,431	)	21,941	21,849
	Nine months ended Sep 30,
	Community Banking					Wholesale Banking				Wealth and Investment Management				Other				Consolidated Company
	2018			2017		2018		2017		2018		2017		2018		2017		2018	2017
Net interest income (1)	$	21,879		21,419		13,951		14,253		3,325		3,489		(1,804	)	(1,917	)	37,351	37,244
Noninterest income:
Service charges on deposit accounts	1,971			2,206		1,569		1,658		12		13		(12	)	(12	)	3,540	3,865
Trust and investment fees:
Brokerage advisory, commissions and other fees	1,413			1,357		224		231		6,896		6,741		(1,442	)	(1,372	)	7,091	6,957
Trust and investment management	684			658		335		390		2,201		2,137		(700	)	(679	)	2,520	2,506
Investment banking	(27		)	(60	)	1,401		1,407		4		(2	)	—		—		1,378	1,345
Total trust and investment fees	2,070			1,955		1,960		2,028		9,101		8,876		(2,142	)	(2,051	)	10,989	10,808
Card fees	2,650			2,703		275		260		4		4		(3	)	(3	)	2,926	2,964
Other fees:
Charges and fees on loans (1)	208			235		695		715		2		3		(2	)	(3	)	903	950
Cash network fees	364			379		3		7		—		—		—		—		367	386
Commercial real estate brokerage commissions	—			1		323		302		—		—		—		—		323	303
Letters of credit fees (1)	4			4		219		223		3		3		(3	)	(3	)	223	227
Wire transfer and other remittance fees	197			178		157		151		6		7		(3	)	(3	)	357	333
All other fees	246			355		75		89		2		1		—		—		323	445
Total other fees	1,019			1,152		1,472		1,487		13		14		(8	)	(9	)	2,496	2,644
Mortgage banking (1)	2,284			3,081		269		343		(8	)	(7	)	5		5		2,550	3,422
Insurance (1)	65			104		233		695		55		63		(33	)	(36	)	320	826
Net gains (losses) from trading activities (1)	33			(143	)	514		615		45		71		—		—		592	543
Net gains (losses) on debt securities (1)	(1		)	455		96		(135	)	4		2		—		—		99	322
Net gains from equity securities (1)	1,367			960		232		92		(105	)	155		—		—		1,494	1,207
Lease income (1)	—			—		1,351		1,449		—		—		—		—		1,351	1,449
Other income of the segment (1)	2,115			1,406		(142	)	(185	)	(27	)	59		(226	)	(235	)	1,720	1,045
Total noninterest income	13,573			13,879		7,829		8,307		9,094		9,250		(2,419	)	(2,341	)	28,077	29,095
Revenue	$	35,452		35,298		21,780		22,560		12,419		12,739		(4,223	)	(4,258	)	65,428	66,339


(1)	These revenues are not within the scope of ASU 2014-09 – Revenue from Contracts with Customers, and additional details are included in other footnotes to our financial statements. The scope explicitly excludes net interest income as well as many other revenues for financial assets and liabilities, including loans, leases, securities, and derivatives.

Following is a discussion of key revenues within the scope of ASU 2014-09 – Revenue from Contracts with Customers (“the new revenue guidance”). We provide services to customers which have related performance obligations that we complete to recognize revenue. Our revenues are generally recognized either immediately upon the completion of our service or over time as we perform services. Any services performed over time generally require that we render services each period and therefore we measure our progress in completing these services based upon the passage of time.

SERVICE CHARGES ON DEPOSIT ACCOUNTS are earned on depository accounts for commercial and consumer customers and include fees for account and overdraft services. Account charges include fees for periodic account maintenance activities and event-driven services such as stop payment fees. Our obligation for event-driven services is satisfied at the time of the event when the service is delivered, while our obligation for maintenance services is satisfied over the course of each month. Our obligation for overdraft services is satisfied at the time of the overdraft.

Table 17.2 presents our service charges on deposit accounts by operating segment.

Table 17.2: Service Charges on Deposit Accounts by Operating Segment



	Quarter ended Sep 30,
	Community Banking			Wholesale Banking		Wealth and Investment Management		Other				Consolidated Company
(in millions)	2018		2017	2018	2017	2018	2017	2018		2017		2018	2017
Overdraft fees	$	484	503	1	2	—	—	—		—		485	505
Account charges	216		236	504	536	3	3	(4	)	(4	)	719	771
Service charges on deposit accounts	$	700	739	505	538	3	3	(4	)	(4	)	1,204	1,276
	Nine months ended Sep 30,
	Community Banking			Wholesale Banking		Wealth and Investment Management		Other				Consolidated Company
(in millions)	2018		2017	2018	2017	2018	2017	2018		2017		2018	2017
Overdraft fees	$	1,312	1,471	4	5	1	1	—		—		1,317	1,477
Account charges	659		735	1,565	1,653	11	12	(12	)	(12	)	2,223	2,388
Service charges on deposit accounts	$	1,971	2,206	1,569	1,658	12	13	(12	)	(12	)	3,540	3,865

BROKERAGE ADVISORY, COMMISSIONS AND OTHER FEES are earned for providing full-service and discount brokerage services predominantly to retail brokerage clients. These revenues include fees earned on asset-based and transactional accounts and other brokerage advisory services.

Asset-based revenues are charged based on the market value of the client’s assets. The services and related obligations associated with certain of these revenues, which include investment advice, active management of client assets, or assistance with selecting and engaging a third-party advisory manager, are generally satisfied over a month or quarter. The remaining revenues include trailing commissions which are earned for selling shares to investors. Our obligation associated with earning trailing commissions is satisfied at the time shares are sold. However, these fees are received and recognized over time during the period the customer owns the shares and we remain the broker of record. The amount of trailing commissions is variable based on the length of time the customer holds the shares and on changes in the value of the underlying assets.

Transactional revenues are earned for executing transactions at the client’s direction. Our obligation is generally satisfied upon the execution of the transaction and the fees are based on the size and number of transactions executed.

Other revenues earned from other brokerage advisory services include omnibus and networking fees received from mutual fund companies in return for providing record keeping and other administrative services, and annual account maintenance fees charged to customers.

Table 17.3 presents our brokerage advisory, commissions and other fees by operating segment.

Table 17.3: Brokerage Advisory, Commissions and Other Fees by Operating Segment



	Quarter ended Sep 30,
	Community Banking			Wholesale Banking		Wealth and Investment Management		Other				Consolidated Company
(in millions)	2018		2017	2018	2017	2018	2017	2018		2017		2018	2017
Asset-based revenue (1)	$	371	347	1	—	1,720	1,669	(372	)	(347	)	1,720	1,669
Transactional revenue	82		93	19	9	388	421	(94	)	(95	)	395	428
Other revenue	17		21	59	56	160	151	(17	)	(21	)	219	207
Brokerage advisory, commissions and other fees	$	470	461	79	65	2,268	2,241	(483	)	(463	)	2,334	2,304
	Nine months ended Sep 30,
	Community Banking			Wholesale Banking		Wealth and Investment Management		Other				Consolidated Company
(in millions)	2018		2017	2018	2017	2018	2017	2018		2017		2018	2017
Asset-based revenue (1)	$	1,107	1,013	1	—	5,185	4,910	(1,108	)	(1,012	)	5,185	4,911
Transactional revenue	258		287	47	33	1,227	1,356	(286	)	(303	)	1,246	1,373
Other revenue	48		57	176	198	484	475	(48	)	(57	)	660	673
Brokerage advisory, commissions and other fees	$	1,413	1,357	224	231	6,896	6,741	(1,442	)	(1,372	)	7,091	6,957


(1)	We earned trailing commissions of $323 million and $975 million in the third quarter and first nine months of 2018, respectively, and $337 million and $1.0 billion for the third quarter and nine months of 2017, respectively.

TRUST AND INVESTMENT MANAGEMENT FEES are earned for providing trust, investment management and other related services.

Investment management services include managing and administering assets, including mutual funds, and institutional separate accounts. Fees for these services are generally determined based on a tiered scale relative to the market value of assets under management (AUM). In addition to AUM we have client assets under administration (AUA) that earn various administrative fees which are generally based on the extent of the services provided to administer the account. Services with AUM and AUA-based fees are generally performed over time.

Trust services include acting as a trustee or agent for corporate trust, personal trust, and agency assets. Obligations for trust services are generally satisfied over time, while obligations for activities that are transactional in nature are satisfied at the time of the transaction.

Other related services include the custody and safekeeping of accounts. Our obligation for these services is generally satisfied over time.

Table 17.4 presents our trust and investment management fees by operating segment.

Table 17.4: Trust and Investment Management Fees by Operating Segment



	Quarter ended Sep 30,
	Community Banking			Wholesale Banking		Wealth and Investment Management		Other				Consolidated Company
(in millions)	2018		2017	2018	2017	2018	2017	2018		2017		2018	2017
Investment management fees	$	—	—	—	—	520	508	—		—		520	508
Trust fees	229		224	82	104	181	189	(235	)	(231	)	257	286
Other revenue	2		1	30	25	26	21	—		(1	)	58	46
Trust and investment management fees	$	231	225	112	129	727	718	(235	)	(232	)	835	840
	Nine months ended Sep 30,
	Community Banking			Wholesale Banking		Wealth and Investment Management		Other				Consolidated Company
(in millions)	2018		2017	2018	2017	2018	2017	2018		2017		2018	2017
Investment management fees	$	—	2	—	—	1,585	1,525	—		—		1,585	1,527
Trust fees	682		655	250	315	554	566	(700	)	(678	)	786	858
Other revenue	2		1	85	75	62	46	—		(1	)	149	121
Trust and investment management fees	$	684	658	335	390	2,201	2,137	(700	)	(679	)	2,520	2,506

INVESTMENT BANKING FEES are earned for underwriting debt and equity securities, arranging loan syndications and performing other advisory services. Our obligation for these services is generally satisfied at closing of the transaction.

CARD FEES include credit and debit card interchange and network revenues and various card-related fees. Card-related fees such as late fees, cash advance fees, and balance transfer fees are loan-related and excluded from the scope of the new revenue guidance.

Credit and debit card interchange and network revenues are earned on credit and debit card transactions conducted through payment networks such as Visa, MasterCard, and American Express. Our obligation is satisfied concurrently with the delivery of services on a daily basis.

Table 17.5 presents our card fees by operating segment.

Table 17.5: Card Fees by Operating Segment



	Quarter ended Sep 30,
	Community Banking			Wholesale Banking		Wealth and Investment Management		Other				Consolidated Company
(in millions)	2018		2017	2018	2017	2018	2017	2018		2017		2018	2017
Credit card interchange and network revenues (1)	$	218	230	92	91	1	1	(1	)	(1	)	310	321
Debit card interchange and network revenues	523		496	—	—	—	—	—		—		523	496
Late fees, cash advance fees, balance transfer fees, and annual fees	184		183	—	—	—	—	—		—		184	183
Card fees (1)	$	925	909	92	91	1	1	(1	)	(1	)	1,017	1,000
	Nine months ended Sep 30,
	Community Banking			Wholesale Banking		Wealth and Investment Management		Other				Consolidated Company
(in millions)	2018		2017	2018	2017	2018	2017	2018		2017		2018	2017
Credit card interchange and network revenues (1)	$	600	703	275	260	4	4	(3	)	(3	)	876	964
Debit card interchange and network revenues	1,527		1,459	—	—	—	—	—		—		1,527	1,459
Late fees, cash advance fees, balance transfer fees, and annual fees	523		541	—	—	—	—	—		—		523	541
Card fees (1)	$	2,650	2,703	275	260	4	4	(3	)	(3	)	2,926	2,964


(1)	The cost of credit card rewards and rebates of $335 million and $1,013 million for the quarter and nine months ended September 30, 2018, respectively, and $310 million and $873 million for the quarter and nine months ended September 30, 2017, respectively, are presented net against the related revenues.

CASH NETWORK FEES are earned for processing ATM transactions. Our obligation is completed daily upon settlement of ATM transactions.

COMMERCIAL REAL ESTATE BROKERAGE COMMISSIONS are earned for assisting customers in the sale of real estate property. Our obligation is satisfied upon the successful brokering of a transaction. Fees are based on a fixed percentage of the sales price.

WIRE TRANSFER AND OTHER REMITTANCE FEES consist of fees earned for funds transfer services and issuing cashier’s checks and money orders. Our obligation is satisfied at the time of the funds transfer services or upon issuance of the cashier’s check or money order.

ALL OTHER FEES include various types of fees earned on services to customers which have related performance obligations that we complete to recognize revenue. A significant portion of the revenue is earned from providing business payroll services and merchant services, which are generally recognized over time as we perform the services.