Business Segments (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Summary of Impacts of Changes to Internal Management Reporting

The following table summarizes the impact of these changes on reported segment profit (loss) before tax, total assets and total deposits as of and for the three months and six months ended June 30, 2019:

	As Previously Reported			After Reporting Changes
	(in millions)
Segment profit (loss) before tax during the three months ended June 30, 2019:
RBWM	$	(26	)	NR
WPB	NR			$	(8	)
CMB	106			114
GB&M	94			126
PB	(4		)	NR
CC	19			(43		)
Segment profit (loss) before tax during the six months ended June 30, 2019:
RBWM	$	(72	)	NR
WPB	NR			$	(34	)
CMB	221			236
GB&M	231			295
PB	(3		)	NR
CC	16			(104		)
Segment total assets at June 30, 2019:
RBWM(1)	$	18,907		NR
WPB	NR			$	50,886
CMB	26,735			35,568
GB&M	87,114			126,864
PB(1)	6,952			NR
CC	76,055			2,445
Segment total deposits at June 30, 2019:
RBWM	$	33,606		NR
WPB	NR			$	42,942
CMB	23,554			24,299
GB&M	29,674			32,840
PB	7,226			NR
CC	6,021			—

⁽¹⁾  Segment total assets at June 30, 2019 included goodwill that was previously allocated to RBWM and PB of $581 million and $321 million, respectively.

NR Not Reported

Summary on Reconciliation of Results under Group Reporting Basis to US GAAP

The following table summarizes the results for each segment on a Group Reporting Basis, as well as provides a reconciliation of total results under the Group Reporting Basis to U.S. GAAP consolidated totals:

	Group Reporting Basis Consolidated Amounts
	WPB			CMB			GB&M		CC			Total		Group Reporting Basis Adjustments(1)			Group Reporting Basis Reclassi- fications(2)			U.S. GAAP Consolidated Totals
	(in millions)
Three Months Ended June 30, 2020
Net interest income	$	197		$	204		$	122	$	(7	)	$	516	$	2		$	20		$	538
Other operating income	99			52			263		85			499		(19		)	(16		)	464
Total operating income	296			256			385		78			1,015		(17		)	4			1,002
Expected credit losses / provision for credit losses	36			181			19		—			236		(17		)	—			219
	260			75			366		78			779		—			4			783
Operating expenses	326			142			201		63			732		(9		)	4			727
Profit (loss) before income tax	$	(66	)	$	(67	)	$	165	$	15		$	47	$	9		$	—		$	56
Three Months Ended June 30, 2019
Net interest income	$	265		$	206		$	156	$	(17	)	$	610	$	3		$	(73	)	$	540
Other operating income	104			60			189		12			365		(3		)	74			436
Total operating income	369			266			345		(5		)	975		—			1			976
Expected credit losses / provision for credit losses	13			9			3		—			25		23			(2		)	46
	356			257			342		(5		)	950		(23		)	3			930
Operating expenses	364			143			216		38			761		10			3			774
Profit (loss) before income tax	$	(8	)	$	114		$	126	$	(43	)	$	189	$	(33	)	$	—		$	156

	Group Reporting Basis Consolidated Amounts
	WPB			CMB			GB&M			CC			Total			Group Reporting Basis Adjustments(1)			Group Reporting Basis Reclassi- fications(2)			U.S. GAAP Consolidated Totals
	(in millions)
Six Months Ended June 30, 2020
Net interest income	$	429		$	414		$	212		$	(20	)	$	1,035		$	5		$	2		$	1,042
Other operating income	173			110			526			61			870			(23		)	4			851
Total operating income	602			524			738			41			1,905			(18		)	6			1,893
Expected credit losses / provision for credit losses	176			304			135			—			615			330			—			945
	426			220			603			41			1,290			(348		)	6			948
Operating expenses	1,361			289			393			198			2,241			85			6			2,332
Profit (loss) before income tax	$	(935	)	$	(69	)	$	210		$	(157	)	$	(951	)	$	(433	)	$	—		$	(1,384	)
Balances at end of period:
Total assets	$	61,326		$	41,511		$	155,090		$	2,449		$	260,376		$	(47,514	)	$	—		$	212,862
Total loans, net	24,059			28,125			17,673			—			69,857			(3,931		)	5,350			71,276
Goodwill	—			358			—			—			358			100			—			458
Total deposits	49,871			39,245			54,414			—			143,530			(4,874		)	17,377			156,033
Six Months Ended June 30, 2019
Net interest income	$	538		$	412		$	329		$	(45	)	$	1,234		$	9		$	(141	)	$	1,102
Other operating income	194			121			379			9			703			(20		)	143			826
Total operating income	732			533			708			(36		)	1,937			(11		)	2			1,928
Expected credit losses / provision for credit losses	34			15			(14		)	—			35			64			5			104
	698			518			722			(36		)	1,902			(75		)	(3		)	1,824
Operating expenses	732			282			427			68			1,509			18			(3		)	1,524
Profit (loss) before income tax	$	(34	)	$	236		$	295		$	(104	)	$	393		$	(93	)	$	—		$	300
Balances at end of period:
Total assets	$	50,886		$	35,568		$	126,864		$	2,445		$	215,763		$	(31,700	)	$	—		$	184,063
Total loans, net	23,683			25,792			20,853			—			70,328			(2,340		)	3,877			71,865
Goodwill	902			358			—			—			1,260			347			—			1,607
Total deposits	42,942			24,299			32,840			—			100,081			(3,434		)	20,314			116,961

⁽¹⁾ Represents adjustments associated with differences between U.S. GAAP and the Group Reporting Basis.

⁽²⁾  Represents differences in financial statement presentation between U.S. GAAP and the Group Reporting Basis.