Annual report pursuant to Section 13 and 15(d)

Performance by Geographical Area

v3.22.4
Performance by Geographical Area
 12 Months Ended
Dec. 31, 2022
Segments, Geographical Areas [Abstract]  
Performance by Geographical Area Performance by Geographical AreaThe 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)
2022 $ 2,631,815  $ 82,890  $ 28,135  $ 25,607 
  2021 2,789,862  78,012  31,392  27,781 
  2020 75,576  18,247  16,692 
Asia 2022 127,399  4,597  1,144  865 
  2021 117,085  4,439  988  733 
  2020 4,232  1,051  788 
Europe, Middle East and Africa 2022 262,856  6,044  1,121  689 
  2021 233,356  5,423  1,097  3,134 
  2020 4,491  (596) 264 
Latin America and the Caribbean 2022 29,305  1,419  569  367 
  2021 29,192  1,239  499  330 
  2020 1,229  293  150 
Total Non-U.S.  2022 419,560  12,060  2,834  1,921 
  2021 379,633  11,101  2,584  4,197 
  2020 9,952  748  1,202 
Total Consolidated 2022 $ 3,051,375  $ 94,950  $ 30,969  $ 27,528 
  2021 3,169,495  89,113  33,976  31,978 
  2020 85,528  18,995  17,894 
(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.