| Schedule of Segment Reporting Information, by Segment |
The following tables present net income (loss) and the components thereto (with net interest income on an FTE basis) for the three and nine months ended September 30, 2014 and 2013, and total assets at September 30, 2014 and 2013 for each business segment, as well as All Other.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Segments |
|
|
|
|
At and for the Three Months Ended September 30 |
|
|
|
|
|
Total Corporation (1)
|
|
Consumer & Business Banking |
|
Consumer Real Estate Services |
(Dollars in millions) |
2014 |
|
2013 |
|
2014 |
|
2013 |
|
2014 |
|
2013 |
Net interest income (FTE basis) |
$ |
10,444 |
|
|
$ |
10,479 |
|
|
$ |
4,952 |
|
|
$ |
5,056 |
|
|
$ |
719 |
|
|
$ |
733 |
|
Noninterest income |
10,990 |
|
|
11,264 |
|
|
2,559 |
|
|
2,468 |
|
|
374 |
|
|
844 |
|
Total revenue, net of interest expense (FTE basis) |
21,434 |
|
|
21,743 |
|
|
7,511 |
|
|
7,524 |
|
|
1,093 |
|
|
1,577 |
|
Provision for credit losses |
636 |
|
|
296 |
|
|
617 |
|
|
761 |
|
|
286 |
|
|
(308 |
) |
Amortization of intangibles |
234 |
|
|
270 |
|
|
101 |
|
|
126 |
|
|
— |
|
|
— |
|
Other noninterest expense |
19,908 |
|
|
16,119 |
|
|
3,878 |
|
|
3,841 |
|
|
7,275 |
|
|
3,403 |
|
Income (loss) before income taxes |
656 |
|
|
5,058 |
|
|
2,915 |
|
|
2,796 |
|
|
(6,468 |
) |
|
(1,518 |
) |
Income tax expense (benefit) (FTE basis) |
888 |
|
|
2,561 |
|
|
1,059 |
|
|
1,009 |
|
|
(1,284 |
) |
|
(528 |
) |
Net income (loss) |
$ |
(232 |
) |
|
$ |
2,497 |
|
|
$ |
1,856 |
|
|
$ |
1,787 |
|
|
$ |
(5,184 |
) |
|
$ |
(990 |
) |
Period-end total assets |
$ |
2,123,613 |
|
|
$ |
2,126,653 |
|
|
$ |
612,684 |
|
|
$ |
588,676 |
|
|
$ |
103,309 |
|
|
$ |
115,407 |
|
|
|
|
|
|
|
|
|
|
|
|
Global Wealth &
Investment Management |
|
Global Banking |
|
|
|
|
|
2014 |
|
2013 |
|
2014 |
|
2013 |
Net interest income (FTE basis) |
|
|
|
|
$ |
1,460 |
|
|
$ |
1,478 |
|
|
$ |
2,249 |
|
|
$ |
2,201 |
|
Noninterest income |
|
|
|
|
3,206 |
|
|
2,912 |
|
|
1,844 |
|
|
1,807 |
|
Total revenue, net of interest expense (FTE basis) |
|
|
|
|
4,666 |
|
|
4,390 |
|
|
4,093 |
|
|
4,008 |
|
Provision for credit losses |
|
|
|
|
(15 |
) |
|
23 |
|
|
(32 |
) |
|
322 |
|
Amortization of intangibles |
|
|
|
|
90 |
|
|
95 |
|
|
12 |
|
|
16 |
|
Other noninterest expense |
|
|
|
|
3,313 |
|
|
3,152 |
|
|
1,892 |
|
|
1,907 |
|
Income before income taxes |
|
|
|
|
1,278 |
|
|
1,120 |
|
|
2,221 |
|
|
1,763 |
|
Income tax expense (FTE basis) |
|
|
|
|
465 |
|
|
400 |
|
|
807 |
|
|
626 |
|
Net income |
|
|
|
|
$ |
813 |
|
|
$ |
720 |
|
|
$ |
1,414 |
|
|
$ |
1,137 |
|
Period-end total assets |
|
|
|
|
$ |
267,753 |
|
|
$ |
270,484 |
|
|
$ |
386,919 |
|
|
$ |
372,490 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Global Markets |
|
All Other |
|
|
|
|
|
2014 |
|
2013 |
|
2014 |
|
2013 |
Net interest income (FTE basis) |
|
|
|
|
$ |
988 |
|
|
$ |
969 |
|
|
$ |
76 |
|
|
$ |
42 |
|
Noninterest income |
|
|
|
|
3,148 |
|
|
2,250 |
|
|
(141 |
) |
|
983 |
|
Total revenue, net of interest expense (FTE basis) |
|
|
|
|
4,136 |
|
|
3,219 |
|
|
(65 |
) |
|
1,025 |
|
Provision for credit losses |
|
|
|
|
45 |
|
|
47 |
|
|
(265 |
) |
|
(549 |
) |
Amortization of intangibles |
|
|
|
|
16 |
|
|
16 |
|
|
15 |
|
|
17 |
|
Other noninterest expense |
|
|
|
|
3,320 |
|
|
2,865 |
|
|
230 |
|
|
951 |
|
Income (loss) before income taxes |
|
|
|
|
755 |
|
|
291 |
|
|
(45 |
) |
|
606 |
|
Income tax expense (benefit) (FTE basis) |
|
|
|
|
386 |
|
|
1,166 |
|
|
(545 |
) |
|
(112 |
) |
Net income (loss) |
|
|
|
|
$ |
369 |
|
|
$ |
(875 |
) |
|
$ |
500 |
|
|
$ |
718 |
|
Period-end total assets |
|
|
|
|
$ |
598,668 |
|
|
$ |
601,038 |
|
|
$ |
154,280 |
|
|
$ |
178,558 |
|
|
|
(1) |
There were no material intersegment revenues. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Segments |
|
|
|
|
At and for the Nine Months Ended September 30 |
|
|
|
|
|
Total Corporation (1)
|
|
Consumer & Business Banking |
|
Consumer Real Estate Services |
(Dollars in millions) |
2014 |
|
2013 |
|
2014 |
|
2013 |
|
2014 |
|
2013 |
Net interest income (FTE basis) |
$ |
30,956 |
|
|
$ |
32,125 |
|
|
$ |
14,833 |
|
|
$ |
15,104 |
|
|
$ |
2,117 |
|
|
$ |
2,174 |
|
Noninterest income |
35,205 |
|
|
35,975 |
|
|
7,487 |
|
|
7,265 |
|
|
1,558 |
|
|
3,829 |
|
Total revenue, net of interest expense (FTE basis) |
66,161 |
|
|
68,100 |
|
|
22,320 |
|
|
22,369 |
|
|
3,675 |
|
|
6,003 |
|
Provision for credit losses |
2,056 |
|
|
3,220 |
|
|
1,963 |
|
|
2,680 |
|
|
291 |
|
|
318 |
|
Amortization of intangibles |
708 |
|
|
820 |
|
|
300 |
|
|
380 |
|
|
— |
|
|
— |
|
Other noninterest expense |
60,213 |
|
|
51,087 |
|
|
11,612 |
|
|
11,907 |
|
|
21,290 |
|
|
12,161 |
|
Income (loss) before income taxes |
3,184 |
|
|
12,973 |
|
|
8,445 |
|
|
7,402 |
|
|
(17,906 |
) |
|
(6,476 |
) |
Income tax expense (benefit) (FTE basis) |
1,401 |
|
|
4,981 |
|
|
3,118 |
|
|
2,764 |
|
|
(4,903 |
) |
|
(2,418 |
) |
Net income (loss) |
$ |
1,783 |
|
|
$ |
7,992 |
|
|
$ |
5,327 |
|
|
$ |
4,638 |
|
|
$ |
(13,003 |
) |
|
$ |
(4,058 |
) |
Period-end total assets |
$ |
2,123,613 |
|
|
$ |
2,126,653 |
|
|
$ |
612,684 |
|
|
$ |
588,676 |
|
|
$ |
103,309 |
|
|
$ |
115,407 |
|
|
|
|
|
|
|
|
|
|
|
|
Global Wealth &
Investment Management |
|
Global Banking |
|
|
|
|
|
2014 |
|
2013 |
|
2014 |
|
2013 |
Net interest income (FTE basis) |
|
|
|
|
$ |
4,430 |
|
|
$ |
4,579 |
|
|
$ |
6,791 |
|
|
$ |
6,613 |
|
Noninterest income |
|
|
|
|
9,372 |
|
|
8,731 |
|
|
5,750 |
|
|
5,563 |
|
Total revenue, net of interest expense (FTE basis) |
|
|
|
|
13,802 |
|
|
13,310 |
|
|
12,541 |
|
|
12,176 |
|
Provision for credit losses |
|
|
|
|
— |
|
|
30 |
|
|
365 |
|
|
634 |
|
Amortization of intangibles |
|
|
|
|
277 |
|
|
293 |
|
|
35 |
|
|
48 |
|
Other noninterest expense |
|
|
|
|
9,930 |
|
|
9,477 |
|
|
5,797 |
|
|
5,560 |
|
Income before income taxes |
|
|
|
|
3,595 |
|
|
3,510 |
|
|
6,344 |
|
|
5,934 |
|
Income tax expense (FTE basis) |
|
|
|
|
1,327 |
|
|
1,311 |
|
|
2,342 |
|
|
2,216 |
|
Net income |
|
|
|
|
$ |
2,268 |
|
|
$ |
2,199 |
|
|
$ |
4,002 |
|
|
$ |
3,718 |
|
Period-end total assets |
|
|
|
|
$ |
267,753 |
|
|
$ |
270,484 |
|
|
$ |
386,919 |
|
|
$ |
372,490 |
|
|
|
|
|
|
|
|
|
|
|
|
Global Markets |
|
All Other |
|
|
|
|
|
2014 |
|
2013 |
|
2014 |
|
2013 |
Net interest income (FTE basis) |
|
|
|
|
$ |
2,937 |
|
|
$ |
3,086 |
|
|
$ |
(152 |
) |
|
$ |
569 |
|
Noninterest income |
|
|
|
|
10,794 |
|
|
9,106 |
|
|
244 |
|
|
1,481 |
|
Total revenue, net of interest expense (FTE basis) |
|
|
|
|
13,731 |
|
|
12,192 |
|
|
92 |
|
|
2,050 |
|
Provision for credit losses |
|
|
|
|
83 |
|
|
36 |
|
|
(646 |
) |
|
(478 |
) |
Amortization of intangibles |
|
|
|
|
49 |
|
|
49 |
|
|
47 |
|
|
50 |
|
Other noninterest expense |
|
|
|
|
9,226 |
|
|
8,675 |
|
|
2,358 |
|
|
3,307 |
|
Income (loss) before income taxes |
|
|
|
|
4,373 |
|
|
3,432 |
|
|
(1,667 |
) |
|
(829 |
) |
Income tax expense (benefit) (FTE basis) |
|
|
|
|
1,595 |
|
|
2,233 |
|
|
(2,078 |
) |
|
(1,125 |
) |
Net income |
|
|
|
|
$ |
2,778 |
|
|
$ |
1,199 |
|
|
$ |
411 |
|
|
$ |
296 |
|
Period-end total assets |
|
|
|
|
$ |
598,668 |
|
|
$ |
601,038 |
|
|
$ |
154,280 |
|
|
$ |
178,558 |
|
|
|
(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 (loss) 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 September 30 |
|
Nine Months Ended September 30 |
(Dollars in millions) |
2014 |
|
2013 |
|
2014 |
|
2013 |
Segments' total revenue, net of interest expense (FTE basis) |
$ |
21,499 |
|
|
$ |
20,718 |
|
|
$ |
66,069 |
|
|
$ |
66,050 |
|
Adjustments: |
|
|
|
|
|
|
|
ALM activities |
325 |
|
|
(27 |
) |
|
582 |
|
|
(359 |
) |
Equity investment income |
(51 |
) |
|
1,122 |
|
|
679 |
|
|
2,217 |
|
Liquidating businesses and other |
(339 |
) |
|
(70 |
) |
|
(1,169 |
) |
|
192 |
|
FTE basis adjustment |
(225 |
) |
|
(213 |
) |
|
(639 |
) |
|
(646 |
) |
Consolidated revenue, net of interest expense |
$ |
21,209 |
|
|
$ |
21,530 |
|
|
$ |
65,522 |
|
|
$ |
67,454 |
|
|
|
|
|
|
|
|
|
Segments' net income (loss) |
$ |
(732 |
) |
|
$ |
1,779 |
|
|
$ |
1,372 |
|
|
$ |
7,696 |
|
Adjustments, net of taxes: |
|
|
|
|
|
|
|
ALM activities |
189 |
|
|
32 |
|
|
496 |
|
|
(597 |
) |
Equity investment income |
(32 |
) |
|
707 |
|
|
424 |
|
|
1,397 |
|
Liquidating businesses and other |
343 |
|
|
(21 |
) |
|
(509 |
) |
|
(504 |
) |
Consolidated net income (loss) |
$ |
(232 |
) |
|
$ |
2,497 |
|
|
$ |
1,783 |
|
|
$ |
7,992 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30 |
|
|
|
|
|
2014 |
|
2013 |
Segments' total assets |
|
|
|
|
$ |
1,969,333 |
|
|
$ |
1,948,095 |
|
Adjustments: |
|
|
|
|
|
|
|
ALM activities, including securities portfolio |
|
|
|
|
665,201 |
|
|
662,307 |
|
Equity investments |
|
|
|
|
1,873 |
|
|
2,625 |
|
Liquidating businesses and other |
|
|
|
|
79,234 |
|
|
71,039 |
|
Elimination of segment asset allocations to match liabilities |
|
|
|
|
(592,028 |
) |
|
(557,413 |
) |
Consolidated total assets |
|
|
|
|
$ |
2,123,613 |
|
|
$ |
2,126,653 |
|
|
| 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 (loss) 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 September 30 |
|
Nine Months Ended September 30 |
(Dollars in millions) |
2014 |
|
2013 |
|
2014 |
|
2013 |
Segments' total revenue, net of interest expense (FTE basis) |
$ |
21,499 |
|
|
$ |
20,718 |
|
|
$ |
66,069 |
|
|
$ |
66,050 |
|
Adjustments: |
|
|
|
|
|
|
|
ALM activities |
325 |
|
|
(27 |
) |
|
582 |
|
|
(359 |
) |
Equity investment income |
(51 |
) |
|
1,122 |
|
|
679 |
|
|
2,217 |
|
Liquidating businesses and other |
(339 |
) |
|
(70 |
) |
|
(1,169 |
) |
|
192 |
|
FTE basis adjustment |
(225 |
) |
|
(213 |
) |
|
(639 |
) |
|
(646 |
) |
Consolidated revenue, net of interest expense |
$ |
21,209 |
|
|
$ |
21,530 |
|
|
$ |
65,522 |
|
|
$ |
67,454 |
|
|
|
|
|
|
|
|
|
Segments' net income (loss) |
$ |
(732 |
) |
|
$ |
1,779 |
|
|
$ |
1,372 |
|
|
$ |
7,696 |
|
Adjustments, net of taxes: |
|
|
|
|
|
|
|
ALM activities |
189 |
|
|
32 |
|
|
496 |
|
|
(597 |
) |
Equity investment income |
(32 |
) |
|
707 |
|
|
424 |
|
|
1,397 |
|
Liquidating businesses and other |
343 |
|
|
(21 |
) |
|
(509 |
) |
|
(504 |
) |
Consolidated net income (loss) |
$ |
(232 |
) |
|
$ |
2,497 |
|
|
$ |
1,783 |
|
|
$ |
7,992 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30 |
|
|
|
|
|
2014 |
|
2013 |
Segments' total assets |
|
|
|
|
$ |
1,969,333 |
|
|
$ |
1,948,095 |
|
Adjustments: |
|
|
|
|
|
|
|
ALM activities, including securities portfolio |
|
|
|
|
665,201 |
|
|
662,307 |
|
Equity investments |
|
|
|
|
1,873 |
|
|
2,625 |
|
Liquidating businesses and other |
|
|
|
|
79,234 |
|
|
71,039 |
|
Elimination of segment asset allocations to match liabilities |
|
|
|
|
(592,028 |
) |
|
(557,413 |
) |
Consolidated total assets |
|
|
|
|
$ |
2,123,613 |
|
|
$ |
2,126,653 |
|
|
| 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 (loss) 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 September 30 |
|
Nine Months Ended September 30 |
(Dollars in millions) |
2014 |
|
2013 |
|
2014 |
|
2013 |
Segments' total revenue, net of interest expense (FTE basis) |
$ |
21,499 |
|
|
$ |
20,718 |
|
|
$ |
66,069 |
|
|
$ |
66,050 |
|
Adjustments: |
|
|
|
|
|
|
|
ALM activities |
325 |
|
|
(27 |
) |
|
582 |
|
|
(359 |
) |
Equity investment income |
(51 |
) |
|
1,122 |
|
|
679 |
|
|
2,217 |
|
Liquidating businesses and other |
(339 |
) |
|
(70 |
) |
|
(1,169 |
) |
|
192 |
|
FTE basis adjustment |
(225 |
) |
|
(213 |
) |
|
(639 |
) |
|
(646 |
) |
Consolidated revenue, net of interest expense |
$ |
21,209 |
|
|
$ |
21,530 |
|
|
$ |
65,522 |
|
|
$ |
67,454 |
|
|
|
|
|
|
|
|
|
Segments' net income (loss) |
$ |
(732 |
) |
|
$ |
1,779 |
|
|
$ |
1,372 |
|
|
$ |
7,696 |
|
Adjustments, net of taxes: |
|
|
|
|
|
|
|
ALM activities |
189 |
|
|
32 |
|
|
496 |
|
|
(597 |
) |
Equity investment income |
(32 |
) |
|
707 |
|
|
424 |
|
|
1,397 |
|
Liquidating businesses and other |
343 |
|
|
(21 |
) |
|
(509 |
) |
|
(504 |
) |
Consolidated net income (loss) |
$ |
(232 |
) |
|
$ |
2,497 |
|
|
$ |
1,783 |
|
|
$ |
7,992 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30 |
|
|
|
|
|
2014 |
|
2013 |
Segments' total assets |
|
|
|
|
$ |
1,969,333 |
|
|
$ |
1,948,095 |
|
Adjustments: |
|
|
|
|
|
|
|
ALM activities, including securities portfolio |
|
|
|
|
665,201 |
|
|
662,307 |
|
Equity investments |
|
|
|
|
1,873 |
|
|
2,625 |
|
Liquidating businesses and other |
|
|
|
|
79,234 |
|
|
71,039 |
|
Elimination of segment asset allocations to match liabilities |
|
|
|
|
(592,028 |
) |
|
(557,413 |
) |
Consolidated total assets |
|
|
|
|
$ |
2,123,613 |
|
|
$ |
2,126,653 |
|
|