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Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Noninterest Income        
Trust, Investment and Other Servicing Fees $ 1,003.8 $ 975.5 $ 2,968.9 $ 2,859.9
Foreign Exchange Trading Income 61.6 59.7 221.8 186.4
Treasury Management Fees 11.6 11.2 34.0 34.1
Security Commissions and Trading Income 26.0 29.1 100.9 75.8
Other Operating Income 53.5 45.1 144.4 113.0
Investment Security Gains (Losses), net (Note) 0.0 (0.4) 0.1 (0.9)
Total Noninterest Income 1,156.5 1,120.2 3,470.1 3,268.3
Net Interest Income        
Interest Income 355.4 620.8 1,290.9 1,923.8
Interest Expense 26.8 203.1 182.1 666.7
Net Interest Income 328.6 417.7 1,108.8 1,257.1
Provision for Credit Losses 0.5 (7.0) 127.5 (13.5)
Net Interest Income after Provision for Credit Losses 328.1 424.7 981.3 1,270.6
Noninterest Expense        
Compensation 461.7 458.0 1,421.8 1,395.5
Employee Benefits 97.5 87.6 285.8 262.6
Outside Services 186.0 194.0 555.0 568.8
Equipment and Software 170.7 151.7 497.1 447.2
Occupancy 51.8 53.0 162.9 155.5
Other Operating Expense 127.0 92.0 274.6 241.6
Total Noninterest Expense 1,094.7 1,036.3 3,197.2 3,071.2
Income before Income Taxes 389.9 508.6 1,254.2 1,467.7
Provision for Income Taxes 95.4 124.0 285.8 346.6
Net Income 294.5 384.6 968.4 1,121.1
Preferred Stock Dividends 16.2 17.4 51.5 40.6
Net Income Applicable to Common Stock $ 278.3 $ 367.2 $ 916.9 $ 1,080.5
Per Common Share        
Net Income — Basic (in dollars per share) $ 1.32 $ 1.70 $ 4.35 $ 4.95
Net Income - Diluted (in dollars per share) $ 1.32 $ 1.69 $ 4.34 $ 4.92
Average number of common shares outstanding        
Average Number of Common Shares Outstanding - Basic (in shares) 208,106,190 213,176,809 208,351,088 215,832,347
Average Number of Common Shares Outstanding - Diluted (in shares) 208,688,494 214,206,576 209,023,331 216,863,563
Note: Changes in Other-Than-Temporary-Impairment (OTTI) Losses prior to the adoption of ASU 2016-13 $ 0.0 $ (0.1) $ 0.0 $ (0.3)
Other Security Gains (Losses), net 0.0 (0.3) 0.1 (0.6)
Investment Security Gains (Losses), net $ 0.0 $ (0.4) $ 0.1 $ (0.9)