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Business Segments and Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Schedule of Segment Results and Reconciliation

The following table presents our business segment results for the three and nine months ended September 30, 2020 and 2019, selected balance sheet data as of September 30, 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 September 30, 2020
(Dollars in millions)						Credit Card						Consumer Banking						Commercial Banking(1)						Other(1)						Consolidated Total
Net interest income (loss)						$	3,292					$	1,904					$	517					$	(158)					$	5,555
Non-interest income						1,013						107						237						469						1,826
Total net revenue(2)						4,305						2,011						754						311						7,381
Provision (benefit) for credit losses						450						(43)						(74)						(2)						331
Non-interest expense						2,003						1,011						424						110						3,548
Income from continuing operations before income taxes						1,852						1,043						404						203						3,502
Income tax provision						438						247						95						316						1,096
Income (loss) from continuing operations, net of tax						$	1,414					$	796					$	309					$	(113)					$	2,406
Loans held for investment						$	103,641					$	68,688					$	75,894					$	0					$	248,223
Deposits						0						249,684						36,783						19,258						305,725

						Nine Months Ended September 30, 2020
(Dollars in millions)						Credit Card						Consumer Banking						Commercial Banking(1)						Other(1)						Consolidated Total
Net interest income (loss)						$	10,363					$	5,226					$	1,526					$	(75)					$	17,040
Non-interest income						2,769						330						655						392						4,146
Total net revenue(2)						13,132						5,556						2,181						317						21,186
Provision for credit losses						7,096						1,693						1,209						2						10,000
Non-interest expense						6,180						3,038						1,261						568						11,047
Income (loss) from continuing operations before income taxes						(144)						825						(289)						(253)						139
Income tax provision (benefit)						(34)						195						(69)						(102)						(10)
Income (loss) from continuing operations, net of tax						$	(110)					$	630					$	(220)					$	(151)					$	149
Loans held for investment						$	103,641					$	68,688					$	75,894					$	0					$	248,223
Deposits						0						249,684						36,783						19,258						305,725

						Three Months Ended September 30, 2019
(Dollars in millions)						Credit Card						Consumer Banking						Commercial Banking(1)						Other(1)						Consolidated Total
Net interest income						$	3,546					$	1,682					$	486					$	23					$	5,737
Non-interest income (loss)						870						165						221						(34)						1,222
Total net revenue (loss)						4,416						1,847						707						(11)						6,959
Provision for credit losses						1,087						203						93						0						1,383
Non-interest expense						2,360						985						414						113						3,872
Income (loss) from continuing operations before income taxes						969						659						200						(124)						1,704
Income tax provision (benefit)						235						154						46						(60)						375
Income (loss) from continuing operations, net of tax						$	734					$	505					$	154					$	(64)					$	1,329
Loans held for investment						$	113,681					$	62,015					$	73,659					$	0					$	249,355
Deposits						0						206,423						30,923						19,802						257,148

						Nine Months Ended September 30, 2019
(Dollars in millions)						Credit Card						Consumer Banking						Commercial Banking(1)						Other(1)						Consolidated Total
Net interest income						$	10,667					$	5,070					$	1,489					$	48					$	17,274
Non-interest income (loss)						2,858						491						608						(65)						3,892
Total net revenue (loss)						13,525						5,561						2,097						(17)						21,166
Provision for credit losses						3,571						603						244						0						4,418
Non-interest expense						6,784						2,981						1,258						299						11,322
Income (loss) from continuing operations before income taxes						3,170						1,977						595						(316)						5,426
Income tax provision (benefit)						747						461						138						(275)						1,071
Income (loss) from continuing operations, net of tax						$	2,423					$	1,516					$	457					$	(41)					$	4,355
Loans held for investment						$	113,681					$	62,015					$	73,659					$	0					$	249,355
Deposits						0						206,423						30,923						19,802						257,148

__________

(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)Total net revenue was reduced by $235 million and $942 million in the three and nine months ended September 30, 2020, respectively, for 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 and nine months ended September 30, 2020 and 2019.

Table 12.2: Revenue from Contracts with Customers and Reconciliation to Segment Results

						Three Months Ended September 30, 2020
(Dollars in millions)						Credit Card						Consumer Banking						Commercial Banking(1)						Other(1)						Consolidated Total
Contract revenue:
Interchange fees, net(2)						$	703					$	54					$	17					$	1					$	775
Service charges and other customer-related fees						0						42						50						0						92
Other						109						5						1						0						115
Total contract revenue						812						101						68						1						982
Revenue from other sources						201						6						169						468						844
Total non-interest income						$	1,013					$	107					$	237					$	469					$	1,826

						Nine Months Ended September 30, 2020
(Dollars in millions)						Credit Card						Consumer Banking						Commercial Banking(1)						Other(1)						Consolidated Total
Contract revenue:
Interchange fees, net(2)						$	2,003					$	152					$	45					$	(1)					$	2,199
Service charges and other customer-related fees						0						137						124						(1)						260
Other						236						27						2						0						265
Total contract revenue						2,239						316						171						(2)						2,724
Revenue from other sources						530						14						484						394						1,422
Total non-interest income						$	2,769					$	330					$	655					$	392					$	4,146

						Three Months Ended September 30, 2019
(Dollars in millions)						Credit Card						Consumer Banking						Commercial Banking(1)						Other(1)						Consolidated Total
Contract revenue:
Interchange fees, net(2)						$	722					$	54					$	15					$	(1)					$	790
Service charges and other customer-related fees						0						76						35						(1)						110
Other						15						26						1						0						42
Total contract revenue						737						156						51						(2)						942
Revenue from other sources						133						9						170						(32)						280
Total non-interest income						$	870					$	165					$	221					$	(34)					$	1,222

						Nine Months Ended September 30, 2019
(Dollars in millions)						Credit Card						Consumer Banking						Commercial Banking(1)						Other(1)						Consolidated Total
Contract revenue:
Interchange fees, net(2)						$	2,181					$	152					$	39					$	(4)					$	2,368
Service charges and other customer-related fees						0						225						88						(1)						312
Other						47						76						2						0						125
Total contract revenue						2,228						453						129						(5)						2,805
Revenue from other sources						630						38						479						(60)						1,087
Total non-interest income						$	2,858					$	491					$	608					$	(65)					$	3,892

__________

(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.

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

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-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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