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Business Segments and Revenue from Contracts with Customers (Tables)
6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Schedule of Segment Results and Reconciliation The following table presents our business segment results for the three and six months ended June 30, 2022 and 2021, selected balance sheet data as of June 30, 2022 and 2021, and a reconciliation of our total business segment results to our reported consolidated income from continuing operations, loans held for investment and deposits.Table 12.1: Segment Results and Reconciliation
Three Months Ended June 30, 2022
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(1)
Other(1)
Consolidated Total
Net interest income (loss)$3,899 $2,147 $635 $(164)$6,517 
Non-interest income (loss)1,410 96 272 (63)1,715 
Total net revenue (loss)(2)
5,309 2,243 907 (227)8,232 
Provision for credit losses581 281 222 1 1,085 
Non-interest expense2,771 1,286 485 41 4,583 
Income (loss) from continuing operations before income taxes1,957 676 200 (269)2,564 
Income tax provision (benefit)466 160 48 (141)533 
Income (loss) from continuing operations, net of tax$1,491 $516 $152 $(128)$2,031 
Loans held for investment$120,880 $81,531 $93,973 $0 $296,384 
Deposits0 255,904 38,844 13,137 307,885 
Six Months Ended June 30, 2022
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(1)
Other(1)
Consolidated Total
Net interest income (loss)$7,738 $4,260 $1,242 $(326)$12,914 
Non-interest income (loss)2,868 201 549 (127)3,491 
Total net revenue (loss)(2)
10,606 4,461 1,791 (453)16,405 
Provision (benefit) for credit losses1,126 411 230 (5)1,762 
Non-interest expense5,554 2,522 973 85 9,134 
Income (loss) from continuing operations before income taxes3,926 1,528 588 (533)5,509 
Income tax provision (benefit)935 362 140 (362)1,075 
Income (loss) from continuing operations, net of tax$2,991 $1,166 $448 $(171)$4,434 
Loans held for investment$120,880 $81,531 $93,973 $0 $296,384 
Deposits0 255,904 38,844 13,137 307,885 
Three Months Ended June 30, 2021
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(1)
Other(1)
Consolidated Total
Net interest income (loss)$3,217 $2,101 $460 $(35)$5,743 
Non-interest income (loss)1,253 144 257 (23)1,631 
Total net revenue (loss)(2)
4,470 2,245 717 (58)7,374 
Provision (benefit) for credit losses(635)(306)(219)(1,160)
Non-interest expense2,263 1,123 417 163 3,966 
Income (loss) from continuing operations before income taxes2,842 1,428 519 (221)4,568 
Income tax provision (benefit)672 337 123 (101)1,031 
Income (loss) from continuing operations, net of tax$2,170 $1,091 $396 $(120)$3,537 
Loans held for investment$101,017 $74,759 $73,821 $$249,597 
Deposits251,155 42,973 12,180 306,308 
                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Six Months Ended June 30, 2021
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(1)
Other(1)
Consolidated Total
Net interest income (loss)$6,589 $4,131 $980 $(135)$11,565 
Non-interest income (loss)2,282 285 497 (142)2,922 
Total net revenue (loss)(2)
8,871 4,416 1,477 (277)14,487 
Provision (benefit) for credit losses(1,127)(432)(422)(2)(1,983)
Non-interest expense4,398 2,240 836 232 7,706 
Income (loss) from continuing operations before income taxes5,600 2,608 1,063 (507)8,764 
Income tax provision (benefit)1,325 615 251 (291)1,900 
Income (loss) from continuing operations, net of tax$4,275 $1,993 $812 $(216)$6,864 
Loans held for investment$101,017 $74,759 $73,821 $$249,597 
Deposits251,155 42,973 12,180 306,308 
__________
(1)Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using the federal statutory tax rate of 21% and state taxes where applicable, with offsetting reductions to the Other category.
(2)Total net revenue was reduced by $211 million and $403 million in the three and six months ended June 30, 2022, respectively, and $175 million and $355 million in the three and six months ended June 30, 2021, respectively, for credit card finance charges and fees charged off as uncollectible.
Disaggregation of Revenue
The following table presents revenue from contracts with customers and a reconciliation to non-interest income by business segment for the three and six months ended June 30, 2022 and 2021.
Table 12.2: Revenue from Contracts with Customers and Reconciliation to Segment Results
Three Months Ended June 30, 2022
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(1)
Other(1)
Consolidated Total
Contract revenue:
Interchange fees, net(2)
$1,093 $80 $28 $0 $1,201 
Service charges and other customer-related fees0 21 63 0 84 
Other98 21 3 0 122 
Total contract revenue1,191 122 94 0 1,407 
Revenue (reduction) from other sources219 (26)178 (63)308 
Total non-interest income (loss)$1,410 $96 $272 $(63)$1,715 
Six Months Ended June 30, 2022
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(1)
Other(1)
Consolidated Total
Contract revenue:
Interchange fees, net(2)
$2,030 $151 $52 $1 $2,234 
Service charges and other customer-related fees0 47 128 (1)174 
Other193 38 1 0 232 
Total contract revenue2,223 236 181 0 2,640 
Revenue (reduction) from other sources645 (35)368 (127)851 
Total non-interest income (loss)$2,868 $201 $549 $(127)$3,491 
Three Months Ended June 30, 2021
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(1)
Other(1)
Consolidated Total
Contract revenue:
Interchange fees, net(2)
$925 $67 $24 $$1,016 
Service charges and other customer-related fees45 66 111 
Other94 19 114 
Total contract revenue1,019 131 91 1,241 
Revenue (reduction) from other sources234 13 166 (23)390 
Total non-interest income (loss)$1,253 $144 $257 $(23)$1,631 
Six Months Ended June 30, 2021
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(1)
Other(1)
Consolidated Total
Contract revenue:
Interchange fees, net(2)
$1,668 $124 $41 $$1,833 
Service charges and other customer-related fees89 116 205 
Other164 38 204 
Total contract revenue1,832 251 159 2,242 
Revenue (reduction) from other sources450 34 338 (142)680 
Total non-interest income (loss)$2,282 $285 $497 $(142)$2,922 
__________
(1)Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using the federal statutory tax rate of 21% and state taxes where applicable, with offsetting reductions to the Other category.
(2)Interchange fees are presented net of customer reward expenses.