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Business Segments and Revenue from Contracts with Customers (Tables)
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Schedule of Segment Results and Reconciliation The following table presents our business segment results for the three months ended March 31, 2020 and 2019, selected balance sheet data as of March 31, 2020 and 2019, and a reconciliation of our total business segment results to our reported consolidated income from continuing operations, loans held for investment and deposits.
Table 12.1: Segment Results and Reconciliation
 
 
Three Months Ended March 31, 2020
(Dollars in millions)
 
Credit
Card
 
Consumer
Banking
 
Commercial
Banking(1)
 
Other(1)
 
Consolidated
Total
Net interest income
 
$
3,702

 
$
1,657

 
$
491

 
$
175

 
$
6,025

Non-interest income (loss)
 
911

 
126

 
238

 
(51
)
 
1,224

Total net revenue(2)
 
4,613

 
1,783

 
729

 
124

 
7,249

Provision for credit losses
 
3,702

 
860

 
856

 
5

 
5,423

Non-interest expense
 
2,208

 
991

 
412

 
118

 
3,729

Income (loss) from continuing operations before income taxes
 
(1,297
)
 
(68
)
 
(539
)
 
1

 
(1,903
)
Income tax benefit
 
(306
)
 
(16
)
 
(128
)
 
(113
)
 
(563
)
Income (loss) from continuing operations, net of tax
 
$
(991
)
 
$
(52
)
 
$
(411
)
 
$
114

 
$
(1,340
)
Loans held for investment
 
$
117,797

 
$
64,033

 
$
81,160

 
$
0

 
$
262,990

Deposits
 
0

 
217,607

 
32,822

 
19,260

 
269,689

 
 
Three Months Ended March 31, 2019
(Dollars in millions)
 
Credit
Card
 
Consumer
Banking
 
Commercial
Banking(1)
 
Other(1)
 
Consolidated
Total
Net interest income
 
$
3,590

 
$
1,679

 
$
489

 
$
33

 
$
5,791

Non-interest income (loss)
 
950

 
160

 
187

 
(5
)
 
1,292

Total net revenue
 
4,540

 
1,839

 
676

 
28

 
7,083

Provision for credit losses
 
1,389

 
235

 
69

 
0

 
1,693

Non-interest expense
 
2,171

 
994

 
417

 
89

 
3,671

Income (loss) from continuing operations before income taxes
 
980

 
610

 
190

 
(61
)
 
1,719

Income tax provision (benefit)
 
229

 
142

 
44

 
(106
)
 
309

Income from continuing operations, net of tax
 
$
751

 
$
468

 
$
146

 
$
45

 
$
1,410

Loans held for investment
 
$
109,836

 
$
59,248

 
$
71,189

 
$
0

 
$
240,273

Deposits
 
0

 
205,439

 
31,248

 
18,420

 
255,107

__________
(1) 
Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using the federal statutory tax rate of 21% and state taxes where applicable, with offsetting reductions to the Other category.
(2) 
In the first quarter of 2020, total net revenue was reduced by $389 million for credit card finance charges and fees charged off as uncollectible.
Disaggregation of Revenue
The following table presents revenue from contracts with customers and a reconciliation to non-interest income by business segment for the three months ended March 31, 2020 and 2019.
Table 12.2: Revenue from Contracts with Customers and Reconciliation to Segments Result
 
 
Three Months Ended March 31, 2020
(Dollars in millions)
 
Credit
Card
 
Consumer
Banking
 
Commercial
Banking(1)
 
Other(1)
 
Consolidated
Total
Contract revenue:
 
 
 
 
 
 
 
 
 
 
Interchange fees, net(2)
 
$
688

 
$
50

 
$
15

 
$
(1
)
 
$
752

Service charges and other customer-related fees
 
0

 
64

 
31

 
0

 
95

Other
 
70

 
19

 
1

 
0

 
90

Total contract revenue
 
758

 
133

 
47

 
(1
)
 
937

Revenue from other sources
 
153

 
(7
)
 
191

 
(50
)
 
287

Total non-interest income
 
$
911

 
$
126

 
$
238

 
$
(51
)
 
$
1,224

 
 
Three Months Ended March 31, 2019
(Dollars in millions)
 
Credit
Card
 
Consumer
Banking
 
Commercial
Banking(1)
 
Other(1)
 
Consolidated
Total
Contract revenue:
 
 
 
 
 
 
 
 
 
 
Interchange fees, net(2)
 
$
702

 
$
46

 
$
11

 
$
(1
)
 
$
758

Service charges and other customer-related fees
 
0

 
75

 
25

 
0

 
100

Other
 
12

 
24

 
0

 
0

 
36

Total contract revenue
 
714

 
145

 
36

 
(1
)
 
894

Revenue from other sources
 
236

 
15

 
151

 
(4
)
 
398

Total non-interest income
 
$
950

 
$
160

 
$
187

 
$
(5
)
 
$
1,292

__________
(1) 
Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using the federal statutory tax rate of 21% and state taxes where applicable, with offsetting reductions to the Other category.
(2) 
Interchange fees are presented net of customer reward expenses.