Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information (Tables)

v2.4.0.8
Business Segment Information (Tables)
3 Months Ended
Mar. 31, 2014
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following tables present net income and the components thereto (with net interest income on a FTE basis) for the three months ended March 31, 2014 and 2013, and total assets at March 31, 2014 and 2013 for each business segment, as well as All Other.

Business Segments
 
 
 
 
At and for the Three Months Ended March 31
 
 
 
 
 
Total Corporation (1)
 
Consumer & Business Banking
 
Consumer Real Estate Services
(Dollars in millions)
2014
 
2013
 
2014
 
2013
 
2014
 
2013
Net interest income (FTE basis)
$
10,286

 
$
10,875

 
$
4,951

 
$
5,013

 
$
701

 
$
743

Noninterest income
12,481

 
12,533

 
2,487

 
2,399

 
491

 
1,569

Total revenue, net of interest expense (FTE basis)
22,767

 
23,408

 
7,438

 
7,412

 
1,192

 
2,312

Provision for credit losses
1,009

 
1,713

 
812

 
952

 
25

 
335

Amortization of intangibles
239

 
276

 
101

 
127

 

 

Other noninterest expense
21,999

 
19,224

 
3,874

 
4,028

 
8,129

 
5,405

Income (loss) before income taxes
(480
)
 
2,195

 
2,651

 
2,305

 
(6,962
)
 
(3,428
)
Income tax expense (benefit) (FTE basis)
(204
)
 
712

 
993

 
857

 
(1,935
)
 
(1,272
)
Net income (loss)
$
(276
)
 
$
1,483

 
$
1,658

 
$
1,448

 
$
(5,027
)
 
$
(2,156
)
Period-end total assets
$
2,149,851

 
$
2,174,819

 
$
613,244

 
$
593,338

 
$
112,264

 
$
129,118

 
 
 
 
 
 
 
 
 
 
 
Global Wealth &
Investment Management
 
Global Banking
 
 
 
 
 
2014
 
2013
 
2014
 
2013
Net interest income (FTE basis)
 
 
 
 
$
1,485

 
$
1,596

 
$
2,301

 
$
2,159

Noninterest income
 
 
 
 
3,062

 
2,825

 
1,968

 
1,871

Total revenue, net of interest expense (FTE basis)
 
 
 
 
4,547

 
4,421

 
4,269

 
4,030

Provision for credit losses
 
 
 
 
23

 
22

 
265

 
149

Amortization of intangibles
 
 
 
 
94

 
99

 
12

 
16

Other noninterest expense
 
 
 
 
3,265

 
3,153

 
2,016

 
1,826

Income before income taxes
 
 
 
 
1,165

 
1,147

 
1,976

 
2,039

Income tax expense (FTE basis)
 
 
 
 
436

 
426

 
740

 
758

Net income
 
 
 
 
$
729

 
$
721

 
$
1,236

 
$
1,281

Period-end total assets
 
 
 
 
$
274,234

 
$
268,266

 
$
396,952

 
$
321,169

 
 
 
 
 
 
 
 
 
 
 
 
 
Global Markets
 
All Other
 
 
 
 
 
2014
 
2013
 
2014
 
2013
Net interest income (FTE basis)
 
 
 
 
$
1,000

 
$
1,110

 
$
(152
)
 
$
254

Noninterest income
 
 
 
 
4,015

 
3,670

 
458

 
199

Total revenue, net of interest expense (FTE basis)
 
 
 
 
5,015

 
4,780

 
306

 
453

Provision for credit losses
 
 
 
 
19

 
5

 
(135
)
 
250

Amortization of intangibles
 
 
 
 
16

 
16

 
16

 
18

Other noninterest expense
 
 
 
 
3,062

 
3,058

 
1,653

 
1,754

Income (loss) before income taxes
 
 
 
 
1,918

 
1,701

 
(1,228
)
 
(1,569
)
Income tax expense (benefit) (FTE basis)
 
 
 
 
608

 
589

 
(1,046
)
 
(646
)
Net income (loss)
 
 
 
 
$
1,310

 
$
1,112

 
$
(182
)
 
$
(923
)
Period-end total assets
 
 
 
 
$
594,936

 
$
626,798

 
$
158,221

 
$
236,130

(1) 
There were no material intersegment revenues.
Reconciliation of Assets from Segment to Consolidated
The table below presents a reconciliation of the five business segments' total revenue, net of interest expense, on a FTE basis, and net income to the Consolidated Statement of Income, and total assets to the Consolidated Balance Sheet. The adjustments presented in the table below include consolidated income, expense and asset amounts not specifically allocated to individual business segments.

Business Segment Reconciliations
 
 
 
 
Three Months Ended March 31
(Dollars in millions)
 
2014
 
2013
Segments' total revenue, net of interest expense (FTE basis)
 
$
22,461

 
$
22,955

Adjustments:
 
 
 
 
ALM activities
 
80

 
(230
)
Equity investment income
 
674

 
520

Liquidating businesses and other
 
(448
)
 
163

FTE basis adjustment
 
(201
)
 
(211
)
Consolidated revenue, net of interest expense
 
$
22,566

 
$
23,197

 
 
 
 
 
Segments' net income (loss)
 
$
(94
)
 
$
2,406

Adjustments, net of taxes:
 
 
 
 
ALM activities
 
311

 
(457
)
Equity investment income
 
421

 
328

Liquidating businesses and other
 
(914
)
 
(794
)
Consolidated net income (loss)
 
$
(276
)
 
$
1,483

 
 
 
 
 
 
 
March 31
 
 
2014
 
2013
Segments' total assets
 
$
1,991,630

 
$
1,938,689

Adjustments:
 
 
 
 
ALM activities, including securities portfolio
 
685,136

 
690,741

Equity investments
 
2,118

 
4,858

Liquidating businesses and other
 
80,176

 
77,548

Elimination of segment asset allocations to match liabilities
 
(609,209
)
 
(537,017
)
Consolidated total assets
 
$
2,149,851

 
$
2,174,819