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Consolidated Statements of Income (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest Income        
Interest and fees on loans $ 1,152 $ 1,148 $ 3,464 $ 3,474
Interest and fees on loans held for sale 30 30 61 90
Interest and Dividend Income, Securities, Available-for-sale 153 143 456 429
Trading account interest and other 18 18 55 52
Total interest income 1,353 1,339 4,036 4,045
Interest Expense        
Interest on deposits 54 70 180 224
Interest Expense, Long-term Debt 74 52 198 156
Interest on other borrowings 10 9 29 25
Total interest expense 138 131 407 405
Net, interest income 1,215 1,208 3,629 3,640
Provision for Loan, Lease, and Other Losses 93 [1] 95 [1] 268 [1] 453 [1]
Interest Income (Expense), after Provision for Loan Loss 1,122 1,113 3,361 3,187
Noninterest Income        
Service charges on deposit accounts 169 168 483 492
Fees and Commissions, Other 95 91 274 277
Fees and Commissions, Credit and Debit Cards 81 77 239 231
Fees and Commissions, Fiduciary and Trust Activities 93 133 339 387
Investment Advisory, Management and Administrative Fees 76 68 224 198
Investment Banking Revenue 88 99 296 260
Trading Gain (Loss) 46 33 141 124
Servicing Fees, Net 44 11 143 50
Fees and Commissions, Mortgage Banking 45 (10) 140 282
Gain (Loss) on Disposition of Business 0 0 105 0
Gain (Loss) on Sale of Securities, Net (9) [2] 0 [2] (11) [2] 2 [2]
Noninterest Income, Other Operating Income 52 10 155 98
Total noninterest income 780 680 2,528 2,401
Noninterest Expense        
Employee compensation 649 611 1,967 1,856
Other Labor-related Expenses 81 71 326 322
Outside processing and software 184 190 535 555
Net occupancy expense 84 86 254 261
Equipment Expense 41 45 127 136
Federal Deposit Insurance Corporation Premium Expense 29 45 109 140
Marketing and Advertising Expense 35 34 91 95
Credit and collection services 21 139 67 224
Operating losses 29 350 268 461
Amortization of Intangible Assets and Impairment of Goodwill 7 6 14 18
Other Noninterest Expense (99) [3] (153) [3] (376) [3] (402) [3]
Noninterest Expense 1,259 1,730 4,134 4,470
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest 643 63 1,755 1,118
Income Tax Expense (Benefit) 67 [3] (133) [3] 364 [3] 184 [3]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 576 196 1,391 934
Net Income (Loss) Attributable to Noncontrolling Interest 0 7 11 16
Net Income (Loss) Attributable to Parent 576 189 1,380 918
Net Income (Loss) Available to Common Stockholders, Basic $ 563 $ 179 $ 1,343 $ 884
Earnings Per Share, Diluted $ 1.06 $ 0.33 $ 2.51 $ 1.64
Earnings Per Share, Basic $ 1.07 $ 0.33 $ 2.54 $ 1.65
Common Stock, Dividends, Per Share, Declared $ 0.20 $ 0.10 $ 0.50 $ 0.25
Weighted Average Number of Shares Outstanding, Diluted 533,230 538,850 535,222 539,488
Weighted Average Number of Shares Outstanding, Basic 527,402 533,829 529,429 534,887
[1] Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision attributable to quarterly changes in the allowance for loan and lease losses and unfunded commitment reserve balances.
[2] Total OTTI was $0 for the three and nine months ended September 30, 2014 and 2013. There were no OTTI gains/losses recognized in earnings or recognized as non-credit related OTTI in OCI for both the three months ended September 30, 2014 and 2013. Of total OTTI, losses of $1 million were recognized in earnings, and gains of $1 million were recognized as non-credit-related OTTI in OCI for both the nine months ended September 30, 2014 and 2013.
[3] Amortization expense related to qualified affordable housing investment costs is recognized in provision/(benefit) for income taxes for each of the periods presented as allowed by a recently adopted accounting standard. Prior to the first quarter of 2014, these amounts were recognized in other noninterest expense.