XML 14 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest Income        
Interest and Fee Income, Loans and Leases Held-in-portfolio $ 1,549 $ 1,382 $ 4,424 $ 4,009
Interest and fees on loans held for sale 22 24 67 70
Interest and Dividend Income, Securities, Available-for-sale [1],[2] 212 191 628 560
Trading account interest and other [2] 51 38 142 108
Total interest income 1,834 1,635 5,261 4,747
Interest Expense        
Interest Expense, Deposits 193 111 484 286
Interest Expense, Long-term Debt 95 76 252 216
Interest on other borrowings 34 18 85 46
Total interest expense 322 205 821 548
Net, interest income 1,512 1,430 [3],[4] 4,440 4,199 [5],[6]
Provision for Loan, Lease, and Other Losses 61 [7] 120 [3],[4],[8] 121 [9] 330 [5],[6],[10]
Interest Income (Expense), after Provision for Loan Loss 1,451 1,310 4,319 3,869
Noninterest Income        
Investment Banking Revenue [12] 150 [11] 169 [13] 453 [14] 501 [15]
Trading Gain (Loss) 42 [11] 51 [13] 137 [14] 148 [15]
Fees and Commissions, Mortgage Banking and Servicing 43 [11] 46 [13] 138 [14] 148 [15]
commercial real estate related income 24 [11] 17 [13] 66 [14] 61 [15]
Debt and Equity Securities, Gain (Loss) 0 [11] 0 [13] 1 [14] 1 [15]
Noninterest Income, Other Operating Income 21 [11] 25 [13] 108 [14] 76 [15]
Noninterest Income 782 [11] 846 [3],[4],[13] 2,408 [14] 2,520 [5],[6],[15]
Noninterest Expense        
Employee compensation 719 725 2,141 2,152
Other Labor-related Expenses 76 81 310 302
Outside processing and software 234 203 667 612
Net occupancy expense 86 94 270 280
Federal Deposit Insurance Corporation Premium Expense 39 47 118 143
Marketing and Advertising Expense 45 45 127 129
Equipment Expense 40 40 124 123
Operating losses 18 (34) 40 17
Amortization 19 22 51 49
Other Noninterest Expense 108 168 343 436
Noninterest Expense 1,384 1,391 [3],[4] 4,191 4,243 [5],[6]
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest 849 765 2,536 2,146
Income Tax Expense (Benefit) 95 225 412 606
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 754 540 [3],[4] 2,124 1,540 [5],[6]
Net Income (Loss) Attributable to Noncontrolling Interest 2 2 [3],[4] 7 7 [5],[6]
Net Income (Loss) Attributable to Parent 752 538 [3],[4] 2,117 1,533 [5],[6]
Dividends, Preferred Stock, Cash 26 26 81 [16] 65 [16]
Net Income (Loss) Available to Common Stockholders, Basic $ 726 $ 512 $ 2,036 $ 1,468
Earnings Per Share, Diluted $ 1.56 $ 1.06 $ 4.34 $ 3.00
Earnings Per Share, Basic 1.58 1.07 4.38 3.04
Common Stock, Dividends, Per Share, Declared $ 0.50 $ 0.40 $ 1.30 $ 0.92
Weighted Average Number of Shares Outstanding, Diluted 464,164 483,640 469,006 489,176
Weighted Average Number of Shares Outstanding, Basic 460,252 478,258 464,804 483,711
Deposit Account [Member]        
Noninterest Income        
Revenues $ 144 [11] $ 154 [13] $ 433 [14] $ 453 [15]
Financial Service, Other [Member]        
Noninterest Income        
Revenues [12] 89 [11] 89 [13] 264 [14] 270 [15]
Credit and Debit Card [Member]        
Noninterest Income        
Revenues 75 [11] 86 [13] 241 [14] 255 [15]
Fiduciary and Trust [Member]        
Noninterest Income        
Revenues 80 [11] 79 [13] 230 [14] 229 [15]
Investment Advisory, Management and Administrative Service [Member]        
Noninterest Income        
Revenues 74 [11] 69 [13] 219 [14] 208 [15]
Mortgage Banking [Member]        
Noninterest Income        
Revenues $ 40 [11] $ 61 [13] $ 118 [14] $ 170 [15]
[1] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other on the Consolidated Statements of Income. For periods prior to January 1, 2018, this income was previously presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability.
[2] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other. For periods prior to January 1, 2018, this income was previously presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability.
[3] During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC.
[4] During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes.
[5] During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC.
[6] During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes.
[7] Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[8] Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision/(benefit) attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[9] Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[10] Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balan
[11] Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts.
[12] Beginning July 1, 2018, the Company began presenting bridge commitment fee income related to capital market transactions in Investment banking income on the Consolidated Statements of Income. For periods prior to July 1, 2018, this income was previously presented in Other charges and fees and has been reclassified to Investment banking income for comparability.
[13] Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers.
[14] Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts.
[15] Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers.
[16] For the nine months ended September 30, 2018, dividends were $3,044 per share for both Series A and B Preferred Stock, $1,469 per share for Series E Preferred Stock, $4,219 per share for Series F Preferred Stock, $3,788 per share for Series G Preferred Stock, and $4,285 per share for Series H Preferred Stock.For the nine months ended September 30, 2017, dividends were $3,044 per share for both Series A and B Preferred Stock, $4,406 per share for Series E Preferred Stock, $4,219 per share for Series F Preferred Stock, and $2,090 per share for Series G Preferred Stock.