Business Segments (Tables)

9 Months Ended

Sep. 30, 2021

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		GBM		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, 2021
Net interest income (expense)	$	202	$	200	$	74	$	(1)	$	475	$	4	$	41	$	520
Other operating income (expense)	57		70		184		(38)		273		4		(35)		242
Total operating income (expense)	259		270		258		(39)		748		8		6		762
Expected credit losses / provision for credit losses	(35)		24		(31)		—		(42)		(39)		—		(81)
	294		246		289		(39)		790		47		6		843
Operating expenses	279		134		186		55		654		6		6		666
Profit (loss) before income tax	$	15	$	112	$	103	$	(94)	$	136	$	41	$	—	$	177

Three Months Ended September 30, 2020
Net interest income (expense)	$	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		GBM		CC		Total		Group Reporting Basis Adjustments(1)		Group Reporting Basis Reclassi- fications(2)		U.S. GAAP Consolidated Totals
Nine Months Ended September 30, 2021
Net interest income (expense)	$	616	$	580	$	255	$	(3)	$	1,448	$	17	$	109	$	1,574
Other operating income (expense)	215		208		613		(9)		1,027		(2)		(95)		930
Total operating income (expense)	831		788		868		(12)		2,475		15		14		2,504
Expected credit losses / provision for credit losses	(36)		(26)		(154)		—		(216)		(321)		—		(537)
	867		814		1,022		(12)		2,691		336		14		3,041
Operating expenses	921		437		573		157		2,088		48		14		2,150
Profit (loss) before income tax	$	(54)	$	377	$	449	$	(169)	$	603	$	288	$	—	$	891
Balances at end of period:
Total assets	$	69,021	$	46,226	$	102,543	$	1,611	$	219,401	$	(18,251)	$	—	$	201,150
Total loans, net	22,046		20,998		11,290		—		54,334		(1,549)		2,266		55,051
Goodwill	—		358		—		—		358		100		—		458
Total deposits	39,762		45,239		52,130		—		137,131		(3,668)		18,905		152,368

Nine Months Ended September 30, 2020
Net interest income (expense)	$	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

(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.