Business Segments (Tables)

3 Months Ended

Mar. 31, 2024

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

The following table summarizes the impact of this change on reported segment net interest income (expense) and other operating income for the three months ended March 31, 2023:


	Three Months Ended March 31, 2023
	As Previously Reported		After Reporting Changes
	(in millions)
Segment net interest income (expense):
MSS	$	(68)	$	13
CC	(26)		(107)
Total HUSI Consolidated	543		543

Segment other operating income:
MSS	$	177	$	96
CC	10		91
Total HUSI Consolidated	386		386

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
					GBM
	WPB		CMB		GB		MSS		GBM Other		CC		Total		Group Reporting Basis Adjust- ments(1)		Group Reporting Basis Reclassi- fications(2)		U.S. GAAP Consolidated Totals
	(in millions)


















Three Months Ended March 31, 2024
Net interest income (expense)	$	179	$	292	$	117	$	9	$	18	$	(168)	$	447	$	7	$	(28)	$	426
Other operating income	67		78		84		81		22		173		505		(3)		37		539
Total operating income	246		370		201		90		40		5		952		4		9		965
Expected credit losses / provision for credit losses	—		(2)		(5)		—		—		—		(7)		9		—		2
	246		372		206		90		40		5		959		(5)		9		963
Operating expenses	187		179		131		79		22		75		673		3		9		685
Profit (loss) before income tax	$	59	$	193	$	75	$	11	$	18	$	(70)	$	286	$	(8)	$	—	$	278
Balances at end of period:
Total assets	$	37,255	$	56,195	$	10,165	$	33,767	$	40,290	$	3,889	$	181,561	$	(14,595)	$	—	$	166,966
Total loans, net	23,955		23,880		9,717		73		367		—		57,992		(561)		1,785		59,216
Goodwill	—		358		—		—		—		—		358		100		—		458
Total deposits	29,936		40,214		41,137		1,157		1,839		—		114,283		(1,750)		9,520		122,053

Three Months Ended March 31, 2023
Net interest income (expense)	$	213	$	285	$	139	$	13	$	—	$	(107)	$	543	$	1	$	(61)	$	483
Other operating income	52		72		54		96		21		91		386		(7)		74		453
Total operating income (expense)	265		357		193		109		21		(16)		929		(6)		13		936
Expected credit losses / provision for credit losses	10		16		3		—		—		—		29		(9)		—		20
	255		341		190		109		21		(16)		900		3		13		916
Operating expenses	175		150		135		69		18		32		579		37		13		629
Profit (loss) before income tax	$	80	$	191	$	55	$	40	$	3	$	(48)	$	321	$	(34)	$	—	$	287
Balances at end of period:
Total assets	$	42,518	$	54,607	$	10,506	$	34,692	$	37,546	$	2,496	$	182,365	$	(15,815)	$	—	$	166,550
Total loans, net	22,429		24,793		9,812		507		273		—		57,814		(747)		1,807		58,874
Goodwill	—		358		—		—		—		—		358		100		—		458
Total deposits	31,166		43,229		40,422		1,260		1,378		—		117,455		(2,022)		6,735		122,168

(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.