Annual report pursuant to Section 13 and 15(d)

Business Segment Information (Tables)

v2.4.0.6
Business Segment Information (Tables)
12 Months Ended
Dec. 31, 2011
Segment Reporting Information [Line Items]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
The following tables present total revenue, net of interest expense, on a FTE basis and net income (loss) for 2011, 2010 and 2009, and total assets at December 31, 2011 and 2010 for each business segment, as well as All Other.
 
 
 
 
 
 
 
 
 
 
 
 
Business Segments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At and for the Year Ended December 31
Total Corporation (1)
 
Deposits
 
Card Services (2)
(Dollars in millions)
2011
2010
2009
 
2011
2010
2009
 
2011
2010
2009
Net interest income (FTE basis)
$
45,588

$
52,693

$
48,410

 
$
8,471

$
8,278

$
7,195

 
$
11,507

$
14,413

$
16,502

Noninterest income
48,838

58,697

72,534

 
4,218

5,284

7,041

 
6,636

7,927

8,275

Total revenue, net of interest expense
94,426

111,390

120,944

 
12,689

13,562

14,236

 
18,143

22,340

24,777

Provision for credit losses
13,410

28,435

48,570

 
173

201

341

 
3,072

10,962

26,351

Amortization of intangibles
1,509

1,731

1,978

 
154

194

237

 
599

668

746

Goodwill impairment
3,184

12,400


 



 

10,400


Other noninterest expense
75,581

68,977

64,735

 
10,479

11,002

9,451

 
5,425

5,289

5,857

Income (loss) before income taxes
742

(153
)
5,661

 
1,883

2,165

4,207

 
9,047

(4,979
)
(8,177
)
Income tax expense (benefit) (FTE basis)
(704
)
2,085

(615
)
 
691

803

1,530

 
3,259

2,001

(2,965
)
Net income (loss)
$
1,446

$
(2,238
)
$
6,276

 
$
1,192

$
1,362

$
2,677

 
$
5,788

$
(6,980
)
$
(5,212
)
Year-end total assets
$
2,129,046

$
2,264,909

 

 
$
445,680

$
440,954

 

 
$
127,636

$
138,491

 

 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer Real Estate Services
 
Global Commercial Banking
 
Global Banking & Markets
 
2011
2010
2009
 
2011
2010
2009
 
2011
2010
2009
Net interest income (FTE basis)
$
3,207

$
4,662

$
4,961

 
$
7,176

$
8,007

$
8,022

 
$
7,401

$
8,000

$
9,557

Noninterest income
(6,361
)
5,667

11,677

 
3,377

3,219

7,438

 
16,217

19,949

18,624

Total revenue, net of interest expense
(3,154
)
10,329

16,638

 
10,553

11,226

15,460

 
23,618

27,949

28,181

Provision for credit losses
4,524

8,490

11,244

 
(634
)
1,979

7,782

 
(296
)
(166
)
1,998

Amortization of intangibles
11

38

63

 
57

72

100

 
116

123

129

Goodwill impairment
2,603

2,000


 



 



Other noninterest expense
19,279

12,848

11,437

 
4,177

4,058

4,120

 
18,063

17,412

15,135

Income (loss) before income taxes
(29,571
)
(13,047
)
(6,106
)
 
6,953

5,117

3,458

 
5,735

10,580

10,919

Income tax expense (benefit) (FTE basis)
(10,042
)
(4,100
)
(2,217
)
 
2,551

1,899

1,279

 
2,768

4,283

3,246

Net income (loss)
$
(19,529
)
$
(8,947
)
$
(3,889
)
 
$
4,402

$
3,218

$
2,179

 
$
2,967

$
6,297

$
7,673

Year-end total assets
$
163,712

$
212,412

 

 
$
289,985

$
312,807

 

 
$
637,754

$
653,737

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Global Wealth &
Investment Management
 
All Other (2)
 
 
 
 
 
2011
2010
2009
 
2011
2010
2009
Net interest income (FTE basis)
 
 
 
 
$
6,046

$
5,677

$
5,882

 
$
1,780

$
3,656

$
(3,709
)
Noninterest income
 
 
 
 
11,330

10,612

9,904

 
13,421

6,039

9,575

Total revenue, net of interest expense
 
 
 
 
17,376

16,289

15,786

 
15,201

9,695

5,866

Provision for credit losses
 
 
 
 
398

646

1,060

 
6,173

6,323

(206
)
Amortization of intangibles
 
 
 
 
438

458

480

 
134

178

223

Goodwill impairment
 
 
 
 



 
581



Other noninterest expense
 
 
 
 
13,957

12,769

11,641

 
4,201

5,599

7,094

Income (loss) before income taxes
 
 
 
 
2,583

2,416

2,605

 
4,112

(2,405
)
(1,245
)
Income tax expense (benefit) (FTE basis)
 
 
 
 
948

1,076

936

 
(879
)
(3,877
)
(2,424
)
Net income
 
 
 
 
$
1,635

$
1,340

$
1,669

 
$
4,991

$
1,472

$
1,179

Year-end total assets
 
 
 
 
$
283,844

$
296,251

 

 
$
180,435

$
210,257

 

(1) 
There were no material intersegment revenues.
(2) 
2011 and 2010 are presented in accordance with new consolidation guidance. 2009 Card Services results are presented on a managed basis with a corresponding offset recorded in All Other.
Reconciliation Of Consolidated Net Income Of Business Segments [Table Text Block]
The following tables present a reconciliation of the six business segments’ total revenue, net of interest expense, on a FTE basis, and net income (loss) to the Consolidated Statement of Income, and total assets to the Consolidated Balance Sheet. The adjustments presented in the following tables include consolidated income, expense and asset amounts not specifically allocated to individual business segments.
 
 
 
 
 
 
Business Segment Reconciliations
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
2011
 
2010
 
2009
Segments’ total revenue, net of interest expense (FTE basis)
$
79,225

 
$
101,695

 
$
115,078

Adjustments:
 

 
 

 
 

ALM activities
7,576

 
1,899

 
(766
)
Equity investment income
7,037

 
4,549

 
10,589

Liquidating businesses
2,708

 
5,155

 
6,932

FTE basis adjustment
(972
)
 
(1,170
)
 
(1,301
)
Managed securitization impact to total revenue, net of interest expense
n/a

 
n/a

 
(11,399
)
Other
(2,120
)
 
(1,908
)
 
510

Consolidated revenue, net of interest expense
$
93,454

 
$
110,220

 
$
119,643

Segments’ net income (loss)
$
(3,545
)
 
$
(3,710
)
 
$
5,097

Adjustments, net of taxes:
 

 
 

 
 

ALM activities
515

 
(2,462
)
 
(6,597
)
Equity investment income
4,433

 
2,866

 
6,671

Liquidating businesses
(103
)
 
718

 
412

Merger and restructuring charges
(402
)
 
(1,146
)
 
(1,714
)
Other
548

 
1,496

 
2,407

Consolidated net income (loss)
$
1,446

 
$
(2,238
)
 
$
6,276

 
 
 
 
 
 
 
 
 
December 31
 
 
 
2011
 
2010
Segments’ total assets
 
 
$
1,948,611

 
$
2,054,652

Adjustments:
 
 
 

 
 

ALM activities, including securities portfolio
 
 
647,569

 
601,307

Equity investments
 
 
6,923

 
34,185

Liquidating businesses
 
 
29,746

 
43,288

Elimination of segment excess asset allocations to match liabilities
 
 
(531,702
)
 
(476,471
)
Other
 
 
27,899

 
7,948

Consolidated total assets
 
 
$
2,129,046

 
$
2,264,909

n/a = not applicable

Reconciliation of Assets from Segment to Consolidated [Table Text Block]
The following tables present a reconciliation of the six business segments’ total revenue, net of interest expense, on a FTE basis, and net income (loss) to the Consolidated Statement of Income, and total assets to the Consolidated Balance Sheet. The adjustments presented in the following tables include consolidated income, expense and asset amounts not specifically allocated to individual business segments.
 
 
 
 
 
 
Business Segment Reconciliations
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
2011
 
2010
 
2009
Segments’ total revenue, net of interest expense (FTE basis)
$
79,225

 
$
101,695

 
$
115,078

Adjustments:
 

 
 

 
 

ALM activities
7,576

 
1,899

 
(766
)
Equity investment income
7,037

 
4,549

 
10,589

Liquidating businesses
2,708

 
5,155

 
6,932

FTE basis adjustment
(972
)
 
(1,170
)
 
(1,301
)
Managed securitization impact to total revenue, net of interest expense
n/a

 
n/a

 
(11,399
)
Other
(2,120
)
 
(1,908
)
 
510

Consolidated revenue, net of interest expense
$
93,454

 
$
110,220

 
$
119,643

Segments’ net income (loss)
$
(3,545
)
 
$
(3,710
)
 
$
5,097

Adjustments, net of taxes:
 

 
 

 
 

ALM activities
515

 
(2,462
)
 
(6,597
)
Equity investment income
4,433

 
2,866

 
6,671

Liquidating businesses
(103
)
 
718

 
412

Merger and restructuring charges
(402
)
 
(1,146
)
 
(1,714
)
Other
548

 
1,496

 
2,407

Consolidated net income (loss)
$
1,446

 
$
(2,238
)
 
$
6,276

 
 
 
 
 
 
 
 
 
December 31
 
 
 
2011
 
2010
Segments’ total assets
 
 
$
1,948,611

 
$
2,054,652

Adjustments:
 
 
 

 
 

ALM activities, including securities portfolio
 
 
647,569

 
601,307

Equity investments
 
 
6,923

 
34,185

Liquidating businesses
 
 
29,746

 
43,288

Elimination of segment excess asset allocations to match liabilities
 
 
(531,702
)
 
(476,471
)
Other
 
 
27,899

 
7,948

Consolidated total assets
 
 
$
2,129,046

 
$
2,264,909

n/a = not applicable