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Business Segments and Revenue from Contracts with Customers (Tables)
12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Schedule of Segment Results and Reconciliation The following table presents our business segment results for the years ended December 31, 2023, 2022 and 2021, selected balance sheet data as of December 31, 2023 and 2022, and a reconciliation of our total business segment results to our reported consolidated income from continuing operations, loans held for investment and deposits.
Table 17.1: Segment Results and Reconciliation
Year Ended December 31, 2023
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(1)
Other(1)
Consolidated Total
Net interest income (loss)$19,729 $8,713 $2,518 $(1,719)$29,241 
Non-interest income5,940 589 1,002 15 7,546 
Total net revenue (loss)(2)
25,669 9,302 3,520 (1,704)36,787 
Provision for credit losses8,651 1,169 605 1 10,426 
Non-interest expense12,490 5,178 2,011 637 20,316 
Income (loss) from continuing operations before income taxes4,528 2,955 904 (2,342)6,045 
Income tax provision (benefit)1,071 697 213 (823)1,158 
Income (loss) from continuing operations, net of tax$3,457 $2,258 $691 $(1,519)$4,887 
Loans held for investment$154,547 $75,437 $90,488 $0 $320,472 
Deposits0 296,171 32,712 19,530 348,413 
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Year Ended December 31, 2022
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(1)
Other(1)
Consolidated Total
Net interest income (loss)$16,584 $8,965 $2,461 $(896)$27,114 
Non-interest income (loss)5,771 469 1,129 (233)7,136 
Total net revenue (loss)(2)
22,355 9,434 3,590 (1,129)34,250 
Provision (benefit) for credit losses4,265 1,173 415 (6)5,847 
Non-interest expense11,627 5,312 2,070 154 19,163 
Income (loss) from continuing operations before income taxes6,463 2,949 1,105 (1,277)9,240 
Income tax provision (benefit)1,536 699 262 (617)1,880 
Income (loss) from continuing operations, net of tax$4,927 $2,250 $843 $(660)$7,360 
Loans held for investment$137,730 $79,925 $94,676 $$312,331 
Deposits270,592 40,808 21,592 332,992 
Year Ended December 31, 2021
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(1)
Other(1)
Consolidated Total
Net interest income (loss)$14,074 $8,448 $2,153 $(504)$24,171 
Non-interest income (loss)4,806 554 1,148 (244)6,264 
Total net revenue (loss)(2)
18,880 9,002 3,301 (748)30,435 
Benefit for credit losses(902)(521)(519)(2)(1,944)
Non-interest expense9,621 4,711 1,815 423 16,570 
Income (loss) from continuing operations before income taxes10,161 4,812 2,005 (1,169)15,809 
Income tax provision (benefit)2,403 1,136 473 (597)3,415 
Income (loss) from continuing operations, net of tax$7,758 $3,676 $1,532 $(572)$12,394 
Loans held for investment$114,772 $77,646 $84,922 $$277,340 
Deposits256,407 44,809 9,764 310,980 
_________
(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 $1.9 billion, $946 million and $629 million for the years ended December 31, 2023, 2022 and 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 years ended December 31, 2023, 2022 and 2021.
Table 17.2: Revenue from Contracts with Customers and Reconciliation to Segment Results
Year Ended December 31, 2023
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(1)
Other(1)
Consolidated Total
Contract revenue:
Interchange fees, net(2)
$4,333 $367 $91 $2 $4,793 
Service charges and other customer-related fees0 86 222 (2)306 
Other413 102 31 0 546 
Total contract revenue (loss)4,746 555 344 0 5,645 
Revenue from other sources1,194 34 658 15 1,901 
Total non-interest income$5,940 $589 $1,002 $15 $7,546 
Year Ended December 31, 2022
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(1)
Other(1)
Consolidated Total
Contract revenue:
Interchange fees, net(2)
$4,178 $320 $109 $(1)$4,606 
Service charges and other customer-related fees91 236 327 
Other395 74 16 (1)484 
Total contract revenue (loss)4,573 485 361 (2)5,417 
Revenue (reduction) from other sources1,198 (16)768 (231)1,719 
Total non-interest income (loss)$5,771 $469 $1,129 $(233)$7,136 
Year Ended December 31, 2021
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(1)
Other(1)
Consolidated Total
Contract revenue:
Interchange fees, net(2)
$3,497 $267 $96 $$3,860 
Service charges and other customer-related fees171 287 (1)457 
Other383 75 463 
Total contract revenue (loss)3,880 513 388 (1)4,780 
Revenue (reduction) from other sources926 41 760 (243)1,484 
Total non-interest income (loss)$4,806 $554 $1,148 $(244)$6,264 
__________
(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 of $8.2 billion, $7.6 billion and $6.4 billion for the years ended December 31, 2023, 2022 and 2021, respectively.