Table 22.1 presents our results by operating segment.

Table 22.1: Operating Segments



(in millions)	Consumer Banking and Lending		Commercial Banking	Corporate and Investment Banking	Wealth and Investment Management	Corporate	Reconciling Items (1)	Consolidated Company
Quarter ended September 30, 2021
Net interest income (2)	$	5,707	1,231	1,866	637	(427)	(105)	8,909
Noninterest income	3,097		845	1,519	2,981	1,752	(269)	9,925
Total revenue	8,804		2,076	3,385	3,618	1,325	(374)	18,834
Provision for credit losses	(518)		(335)	(460)	(73)	(9)	—	(1,395)
Noninterest expense	6,053		1,396	1,797	2,917	1,140	—	13,303
Income (loss) before income tax expense (benefit)	3,269		1,015	2,048	774	194	(374)	6,926
Income tax expense (benefit)	818		254	518	195	110	(374)	1,521
Net income before noncontrolling interests	2,451		761	1,530	579	84	—	5,405
Less: Net income from noncontrolling interests	—		2	—	—	281	—	283
Net income (loss)	$	2,451	759	1,530	579	(197)	—	5,122
Quarter ended September 30, 2020
Net interest income (2)	$	5,918	1,408	1,714	717	(268)	(110)	9,379
Noninterest income	3,228		818	1,593	2,573	1,921	(196)	9,937
Total revenue	9,146		2,226	3,307	3,290	1,653	(306)	19,316
Provision for credit losses	640		339	(121)	(10)	(79)	—	769
Noninterest expense	7,345		1,623	1,991	2,742	1,528	—	15,229
Income (loss) before income tax expense (benefit)	1,161		264	1,437	558	204	(306)	3,318
Income tax expense (benefit)	290		71	355	139	(632)	(306)	(83)
Net income before noncontrolling interests	871		193	1,082	419	836	—	3,401
Less: Net income from noncontrolling interests	—		1	—	—	184	—	185
Net income	$	871	192	1,082	419	652	—	3,216
Nine months ended September 30, 2021

Net interest income (2)	$	16,940	3,687	5,428	1,904	(1,121)	(321)	26,517
Noninterest income	9,204		2,578	4,899	8,794	6,496	(852)	31,119
Total revenue	26,144		6,265	10,327	10,698	5,375	(1,173)	57,636
Provision for credit losses	(1,304)		(1,116)	(1,245)	(92)	54	—	(3,703)
Noninterest expense	18,522		4,469	5,435	8,836	3,371	—	40,633
Income (loss) before income tax expense (benefit)	8,926		2,912	6,137	1,954	1,950	(1,173)	20,706
Income tax expense (benefit)	2,233		727	1,531	491	58	(1,173)	3,867
Net income before noncontrolling interests	6,693		2,185	4,606	1,463	1,892	—	16,839
Less: Net income (loss) from noncontrolling interests	—		5	(2)	—	1,038	—	1,041
Net income	$	6,693	2,180	4,608	1,463	854	—	15,798
Nine months ended September 30, 2020

Net interest income (2)	$	17,637	4,695	5,698	2,274	671	(374)	30,601
Noninterest income	7,766		2,227	5,076	7,492	3,224	(611)	25,174
Total revenue	25,403		6,922	10,774	9,766	3,895	(985)	55,775
Provision for credit losses	5,311		3,675	4,760	253	309	—	14,308
Noninterest expense	20,535		4,776	5,905	8,142	3,470	—	42,828
Income (loss) before income tax expense (benefit)	(443)		(1,529)	109	1,371	116	(985)	(1,361)
Income tax expense (benefit)	(155)		(371)	48	343	(611)	(985)	(1,731)
Net income (loss) before noncontrolling interests	(288)		(1,158)	61	1,028	727	—	370
Less: Net income from noncontrolling interests	—		3	—	—	81	—	84
Net income (loss)	$	(288)	(1,161)	61	1,028	646	—	286












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	Consumer Banking and Lending		Commercial Banking	Corporate and Investment Banking	Wealth and Investment Management	Corporate	Reconciling Items (1)	Consolidated Company
Quarter ended September 30, 2021
Loans (average)	$	325,557	178,622	257,295	82,785	9,765	—	854,024
Assets (average)	378,665		196,192	524,124	88,652	762,067	—	1,949,700
Deposits (average)	848,419		199,226	189,424	176,570	37,302	—	1,450,941

Nine months ended September 30, 2021

Loans (average)	$	336,743	180,096	251,996	81,810	10,021	—	860,666
Assets (average)	391,835		196,990	516,401	87,929	748,236	—	1,941,391
Deposits (average)	824,752		193,761	191,560	175,087	41,796	—	1,426,956

Loans (period-end)	325,918		180,539	263,957	82,824	9,589	—	862,827
Assets (period-end)	379,564		200,204	535,385	88,593	751,155	—	1,954,901
Deposits (period-end)	858,424		204,853	191,786	177,809	37,507	—	1,470,379
Quarter ended September 30, 2020
Loans (average)	$	379,783	201,893	249,853	79,001	21,178	—	931,708
Assets (average)	437,780		216,067	503,627	85,775	702,662	—	1,945,911
Deposits (average)	756,485		178,997	226,129	169,441	67,976	—	1,399,028

Nine months ended September 30, 2020

Loans (average)	$	377,334	218,331	260,522	78,327	21,404	—	955,918
Assets (average)	434,755		234,151	530,082	85,618	662,709	—	1,947,315
Deposits (average)	708,288		176,959	243,913	160,012	85,466	—	1,374,638

Loans (period-end)	382,815		194,747	241,113	79,472	21,935	—	920,082
Assets (period-end)	435,414		211,962	490,373	86,226	696,424	—	1,920,399
Deposits (period-end)	759,425		180,948	212,532	168,132	62,178	—	1,383,215

(1)Taxable-equivalent adjustments related to tax-exempt income on certain loans and debt securities are included in net interest income, while taxable-equivalent adjustments related to income tax credits for low-income housing and renewable energy investments are included in noninterest income, in each case with corresponding impacts to income tax expense (benefit). Adjustments are included in Corporate, Commercial Banking, and Corporate and Investment Banking and are eliminated to reconcile to the Company’s consolidated financial results.

(2)Net interest income is interest earned on assets minus the interest paid on liabilities to fund those assets. Segment interest earned includes actual interest income on segment assets as well as a funding credit for their deposits. Segment interest paid on liabilities includes actual interest expense on segment liabilities as well as a funding charge for their assets