Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information (Tables)

v2.4.1.9
Business Segment Information (Tables)
3 Months Ended
Mar. 31, 2015
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The table below presents net income (loss) and the components thereto (with net interest income on an FTE basis) for the three months ended March 31, 2015 and 2014, and total assets at March 31, 2015 and 2014 for each business segment, as well as All Other.

Results for Business Segments and All Other
 
 
 
 
At and for the Three Months Ended March 31
 
 
 
 
 
Total Corporation (1)
 
Consumer Banking
 
Global Wealth &
Investment Management
(Dollars in millions)
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Net interest income (FTE basis)
$
9,670

 
$
10,286

 
$
4,871

 
$
5,071

 
$
1,351

 
$
1,485

Noninterest income
11,751

 
12,481

 
2,579

 
2,580

 
3,166

 
3,062

Total revenue, net of interest expense (FTE basis)
21,421

 
22,767

 
7,450

 
7,651

 
4,517

 
4,547

Provision for credit losses
765

 
1,009

 
716

 
809

 
23

 
23

Noninterest expense
15,695

 
22,238

 
4,389

 
4,495

 
3,459

 
3,359

Income (loss) before income taxes (FTE basis)
4,961

 
(480
)
 
2,345

 
2,347

 
1,035

 
1,165

Income tax expense (benefit) (FTE basis)
1,604

 
(204
)
 
870

 
879

 
384

 
436

Net income (loss)
$
3,357

 
$
(276
)
 
$
1,475

 
$
1,468

 
$
651

 
$
729

Period-end total assets
$
2,143,545

 
$
2,149,851

 
$
613,130

 
$
586,472

 
$
272,777

 
$
271,211

 
 
 
 
 
 
 
 
 
 
 
Global Banking
 
Global Markets
 
 
 
 
 
2015
 
2014
 
2015
 
2014
Net interest income (FTE basis)
 
 
 
 
$
2,265

 
$
2,507

 
$
1,004

 
$
1,002

Noninterest income
 
 
 
 
2,024

 
2,028

 
3,599

 
4,015

Total revenue, net of interest expense (FTE basis)
 
 
 
 
4,289

 
4,535

 
4,603

 
5,017

Provision for credit losses
 
 
 
 
96

 
281

 
21

 
19

Noninterest expense
 
 
 
 
2,022

 
2,190

 
3,120

 
3,075

Income before income taxes (FTE basis)
 
 
 
 
2,171

 
2,064

 
1,462

 
1,923

Income tax expense (FTE basis)
 
 
 
 
806

 
773

 
517

 
610

Net income
 
 
 
 
$
1,365

 
$
1,291

 
$
945

 
$
1,313

Period-end total assets
 
 
 
 
$
368,595

 
$
359,786

 
$
586,737

 
$
594,792

 
 
 
 
 
 
 
 
 
 
 
 
 
Legacy Assets & Servicing
 
All Other
 
 
 
 
 
2015
 
2014
 
2015
 
2014
Net interest income (FTE basis)
 
 
 
 
$
428

 
$
377

 
$
(249
)
 
$
(156
)
Noninterest income
 
 
 
 
486

 
309

 
(103
)
 
487

Total revenue, net of interest expense (FTE basis)
 
 
 
 
914

 
686

 
(352
)
 
331

Provision for credit losses
 
 
 
 
91

 
12

 
(182
)
 
(135
)
Noninterest expense
 
 
 
 
1,201

 
7,401

 
1,504

 
1,718

Loss before income taxes (FTE basis)
 
 
 
 
(378
)
 
(6,727
)
 
(1,674
)
 
(1,252
)
Income tax benefit (FTE basis)
 
 
 
 
(140
)
 
(1,847
)
 
(833
)
 
(1,055
)
Net loss
 
 
 
 
$
(238
)
 
$
(4,880
)
 
$
(841
)
 
$
(197
)
Period-end total assets
 
 
 
 
$
53,538

 
$
58,605

 
$
248,768

 
$
278,985

(1) 
There were no material intersegment revenues.
 
 
 
 
 
 
 
 
 
 
 
 


Reconciliation of Operating Profit (Loss) from Segments to Consolidated
The table below presents a reconciliation of the five business segments' total revenue, net of interest expense, on an 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)
2015
 
2014
Segments' total revenue, net of interest expense (FTE basis)
$
21,773

 
$
22,436

Adjustments:
 
 
 
ALM activities
(221
)
 
(265
)
Equity investment income
1

 
696

Liquidating businesses and other
(132
)
 
(100
)
FTE basis adjustment
(219
)
 
(201
)
Consolidated revenue, net of interest expense
$
21,202

 
$
22,566

 
 
 
 
Segments' total net income (loss)
$
4,198

 
$
(79
)
Adjustments, net-of-taxes:
 
 
 
ALM activities
(238
)
 
94

Equity investment income
1

 
435

Liquidating businesses and other
(604
)
 
(726
)
Consolidated net income (loss)
$
3,357

 
$
(276
)
 
 
 
 
 
March 31
 
2015
 
2014
Segments' total assets
$
1,894,777

 
$
1,870,866

Adjustments:
 
 
 
ALM activities, including securities portfolio
692,550

 
685,256

Equity investments
4,716

 
5,323

Liquidating businesses and other
67,473

 
80,532

Elimination of segment asset allocations to match liabilities
(515,971
)
 
(492,126
)
Consolidated total assets
$
2,143,545

 
$
2,149,851

Reconciliation of Revenue from Segments to Consolidated
The table below presents a reconciliation of the five business segments' total revenue, net of interest expense, on an 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)
2015
 
2014
Segments' total revenue, net of interest expense (FTE basis)
$
21,773

 
$
22,436

Adjustments:
 
 
 
ALM activities
(221
)
 
(265
)
Equity investment income
1

 
696

Liquidating businesses and other
(132
)
 
(100
)
FTE basis adjustment
(219
)
 
(201
)
Consolidated revenue, net of interest expense
$
21,202

 
$
22,566

 
 
 
 
Segments' total net income (loss)
$
4,198

 
$
(79
)
Adjustments, net-of-taxes:
 
 
 
ALM activities
(238
)
 
94

Equity investment income
1

 
435

Liquidating businesses and other
(604
)
 
(726
)
Consolidated net income (loss)
$
3,357

 
$
(276
)
 
 
 
 
 
March 31
 
2015
 
2014
Segments' total assets
$
1,894,777

 
$
1,870,866

Adjustments:
 
 
 
ALM activities, including securities portfolio
692,550

 
685,256

Equity investments
4,716

 
5,323

Liquidating businesses and other
67,473

 
80,532

Elimination of segment asset allocations to match liabilities
(515,971
)
 
(492,126
)
Consolidated total assets
$
2,143,545

 
$
2,149,851

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 an 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)
2015
 
2014
Segments' total revenue, net of interest expense (FTE basis)
$
21,773

 
$
22,436

Adjustments:
 
 
 
ALM activities
(221
)
 
(265
)
Equity investment income
1

 
696

Liquidating businesses and other
(132
)
 
(100
)
FTE basis adjustment
(219
)
 
(201
)
Consolidated revenue, net of interest expense
$
21,202

 
$
22,566

 
 
 
 
Segments' total net income (loss)
$
4,198

 
$
(79
)
Adjustments, net-of-taxes:
 
 
 
ALM activities
(238
)
 
94

Equity investment income
1

 
435

Liquidating businesses and other
(604
)
 
(726
)
Consolidated net income (loss)
$
3,357

 
$
(276
)
 
 
 
 
 
March 31
 
2015
 
2014
Segments' total assets
$
1,894,777

 
$
1,870,866

Adjustments:
 
 
 
ALM activities, including securities portfolio
692,550

 
685,256

Equity investments
4,716

 
5,323

Liquidating businesses and other
67,473

 
80,532

Elimination of segment asset allocations to match liabilities
(515,971
)
 
(492,126
)
Consolidated total assets
$
2,143,545

 
$
2,149,851