Business Segments (Tables)

9 Months Ended

Sep. 30, 2020

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 nine months ended September 30, 2019:



	As Previously Reported		After Reporting Changes
	(in millions)
Segment profit (loss) before tax during the three months ended September 30, 2019:
RBWM	$	(275)	NR
WPB	NR		$	(257)
CMB	111		118
GB&M	124		157
PB	—		NR
CC	7		(51)

Segment profit (loss) before tax during the nine months ended September 30, 2019:
RBWM	$	(347)	NR
WPB	NR		$	(291)
CMB	332		354
GB&M	355		452
PB	(3)		NR
CC	23		(155)

Segment total assets at September 30, 2019:
RBWM⁽¹⁾	$	19,128	NR
WPB	NR		$	52,334
CMB	27,734		36,968
GB&M	89,154		130,708
PB⁽¹⁾	7,042		NR
CC	79,457		2,505

Segment total deposits at September 30, 2019:
RBWM	$	34,877	NR
WPB	NR		$	43,974
CMB	25,489		25,975
GB&M	32,002		34,015
PB	7,720		NR
CC	3,876		—

⁽¹⁾Segment total assets at September 30, 2019 included goodwill that was previously allocated to RBWM and PB of $372 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 September 30, 2020
Net interest income	$	200	$	202	$	92	$	(9)	$	485	$	1	$	62	$	548
Other operating income	110		66		217		40		433		(22)		(55)		356
Total operating income	310		268		309		31		918		(21)		7		904
Expected credit losses / provision for credit losses	12		(21)		(6)		—		(15)		(90)		—		(105)
	298		289		315		31		933		69		7		1,009
Operating expenses	527		150		251		126		1,054		(276)		7		785
Profit (loss) before income tax	$	(229)	$	139	$	64	$	(95)	$	(121)	$	345	$	—	$	224


	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 September 30, 2019
Net interest income	$	253	$	216	$	85	$	(11)	$	543	$	1	$	(41)	$	503
Other operating income	99		66		269		4		438		2		46		486
Total operating income	352		282		354		(7)		981		3		5		989
Expected credit losses / provision for credit losses	52		19		(3)		—		68		25		1		94
	300		263		357		(7)		913		(22)		4		895
Operating expenses	557		145		200		44		946		156		4		1,106
Profit (loss) before income tax	$	(257)	$	118	$	157	$	(51)	$	(33)	$	(178)	$	—	$	(211)

Nine Months Ended September 30, 2020
Net interest income	$	629	$	616	$	304	$	(29)	$	1,520	$	6	$	64	$	1,590
Other operating income	283		176		743		101		1,303		(45)		(51)		1,207
Total operating income	912		792		1,047		72		2,823		(39)		13		2,797
Expected credit losses / provision for credit losses	188		283		129		—		600		240		—		840
	724		509		918		72		2,223		(279)		13		1,957
Operating expenses	1,888		439		644		324		3,295		(191)		13		3,117
Profit (loss) before income tax	$	(1,164)	$	70	$	274	$	(252)	$	(1,072)	$	(88)	$	—	$	(1,160)
Balances at end of period:
Total assets	$	56,728	$	38,096	$	136,478	$	1,565	$	232,867	$	(31,921)	$	—	$	200,946
Total loans, net	23,821		25,852		14,122		—		63,795		(1,682)		3,212		65,325
Goodwill	—		358		—		—		358		100		—		458
Total deposits	48,477		39,736		51,566		—		139,779		(5,198)		15,747		150,328

Nine Months Ended September 30, 2019
Net interest income	$	791	$	628	$	414	$	(56)	$	1,777	$	10	$	(182)	$	1,605
Other operating income	293		187		648		13		1,141		(18)		189		1,312
Total operating income	1,084		815		1,062		(43)		2,918		(8)		7		2,917
Expected credit losses / provision for credit losses	86		34		(17)		—		103		89		6		198
	998		781		1,079		(43)		2,815		(97)		1		2,719
Operating expenses	1,289		427		627		112		2,455		174		1		2,630
Profit (loss) before income tax	$	(291)	$	354	$	452	$	(155)	$	360	$	(271)	$	—	$	89
Balances at end of period:
Total assets	$	52,334	$	36,968	$	130,708	$	2,505	$	222,515	$	(37,755)	$	—	$	184,760
Total loans, net	23,908		26,459		18,808		—		69,175		(1,965)		3,450		70,660
Goodwill	693		358		—		—		1,051		191		—		1,242
Total deposits	43,974		25,975		34,015		—		103,964		(4,036)		19,873		119,801

⁽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.