Annual report pursuant to Section 13 and 15(d)

Performance by Geographical Area

v3.10.0.1
Performance by Geographical Area
12 Months Ended
Dec. 31, 2018
Segments, Geographical Areas [Abstract]  
Performance by Geographical Area Performance by Geographical Area
The Corporation’s operations are highly integrated with operations in both U.S. and non-U.S. markets. The non-U.S. business activities are largely conducted in Europe, the Middle East and Africa and in Asia. The Corporation identifies its geographic performance based on the business unit structure used to manage the capital or expense deployed in the region as applicable. This requires certain judgments related to the allocation of revenue so that revenue can be appropriately matched with the related capital or expense deployed in the region. Certain asset, liability, income and expense amounts have been allocated to arrive at total assets, total revenue, net of interest expense, income before income taxes and net income by geographic area as presented below.
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
 
 
Total Assets at Year End (1)
 
Total Revenue, Net of Interest Expense (2)
 
Income Before Income Taxes
 
Net Income
U.S. (3)
2018
 
$
2,051,182

 
$
81,004

 
$
31,904

 
$
26,407

 
2017
 
1,965,490

 
74,830

 
25,108

 
15,550

 
2016
 
 
 
72,418

 
22,282

 
16,183

Asia
2018
 
94,865

 
3,507

 
865

 
520

 
2017
 
103,255

 
3,405

 
676

 
464

 
2016
 
 
 
3,365

 
674

 
488

Europe, Middle East and Africa
2018
 
185,285

 
5,632

 
1,543

 
1,126

 
2017
 
189,661

 
7,907

 
2,990

 
1,926

 
2016
 
 
 
6,608

 
1,705

 
925

Latin America and the Caribbean
2018
 
23,175

 
1,104

 
272

 
94

 
2017
 
22,828

 
1,210

 
439

 
292

 
2016
 
 
 
1,310

 
360

 
226

Total Non-U.S. 
2018
 
303,325

 
10,243

 
2,680

 
1,740

 
2017
 
315,744

 
12,522

 
4,105

 
2,682

 
2016
 
 
 
11,283

 
2,739

 
1,639

Total Consolidated
2018
 
$
2,354,507

 
$
91,247

 
$
34,584

 
$
28,147

 
2017
 
2,281,234

 
87,352

 
29,213

 
18,232

 
2016
 
 
 
83,701

 
25,021

 
17,822

(1) 
Total assets include long-lived assets, which are primarily located in the U.S.
(2) 
There were no material intercompany revenues between geographic regions for any of the periods presented.
(3) 
Substantially reflects the U.S.