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Business Segments and Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Segment Results and Reconciliation

The following table presents our business segment results for the years ended December 31, 2020, 2019 and 2018, selected balance sheet data as of December 31, 2020, 2019 and 2018, and a reconciliation of our total business segment results to our reported consolidated income from continuing operations, loans held for investment and deposits.

Table 17.1: Segment Results and Reconciliation

						Year Ended December 31, 2020
(Dollars in millions)						Credit Card						Consumer Banking						Commercial Banking(1)						Other(1)						Consolidated Total
Net interest income (loss)						$	13,776					$	7,238					$	2,048					$	(149)					$	22,913
Non-interest income						3,823						466						923						398						5,610
Total net revenue(2)						17,599						7,704						2,971						249						28,523
Provision for credit losses						7,327						1,753						1,181						3						10,264
Non-interest expense						8,491						4,159						1,706						700						15,056
Income (loss) from continuing operations before income taxes						1,781						1,792						84						(454)						3,203
Income tax provision (benefit)						420						425						19						(378)						486
Income (loss) from continuing operations, net of tax						$	1,361					$	1,367					$	65					$	(76)					$	2,717
Loans held for investment						$	106,956					$	68,888					$	75,780					$	0					$	251,624
Deposits						0						249,815						39,590						16,037						305,442

						Year Ended December 31, 2019
(Dollars in millions)						Credit Card						Consumer Banking						Commercial Banking(1)						Other(1)						Consolidated Total
Net interest income						$	14,461					$	6,732					$	1,983					$	164					$	23,340
Non-interest income (loss)						3,888						643						831						(109)						5,253
Total net revenue						18,349						7,375						2,814						55						28,593
Provision for credit losses						4,992						938						306						0						6,236
Non-interest expense						9,271						4,091						1,699						422						15,483
Income (loss) from continuing operations before income taxes						4,086						2,346						809						(367)						6,874
Income tax provision (benefit)						959						547						188						(353)						1,341
Income (loss) from continuing operations, net of tax						$	3,127					$	1,799					$	621					$	(14)					$	5,533
Loans held for investment						$	128,236					$	63,065					$	74,508					$	0					$	265,809
Deposits						0						213,099						32,134						17,464						262,697

						Year Ended December 31, 2018
(Dollars in millions)						Credit Card						Consumer Banking						Commercial Banking(1)(3)						Other(1)(3)						Consolidated Total
Net interest income						$	14,167					$	6,549					$	2,044					$	115					$	22,875
Non-interest income						3,520						663						744						274						5,201
Total net revenue						17,687						7,212						2,788						389						28,076
Provision (benefit) for credit losses						4,984						838						83						(49)						5,856
Non-interest expense						8,542						4,027						1,654						679						14,902
Income (loss) from continuing operations before income taxes						4,161						2,347						1,051						(241)						7,318
Income tax provision (benefit)						970						547						245						(469)						1,293
Income from continuing operations, net of tax						$	3,191					$	1,800					$	806					$	228					$	6,025
Loans held for investment						$	116,361					$	59,205					$	70,333					$	0					$	245,899
Deposits						0						198,607						29,480						21,677						249,764

__________

(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% for all periods presented) and state taxes where applicable, with offsetting reductions to the Other category.

(2)Total net revenue was reduced by $1.1 billion for the year ended December 31, 2020, for finance charges and fees charged off as uncollectible.

(3)In the first quarter of 2019, we made a change in how revenue is measured in our Commercial Banking business by revising the allocation of tax benefits on certain tax-advantaged investments. As such, 2018 results have been recast to conform with the current period presentation. The result of this measurement change reduced the previously reported total net revenue in our Commercial Banking business by $108 million for the year ended December 31, 2018, with an offsetting increase in the Other category.

Disaggregation of Revenue

The following table presents revenue from contracts with customers and a reconciliation to non-interest income by business segment for the years ended December 31, 2020, 2019 and 2018.

Table 17.2: Revenue from Contracts with Customers and Reconciliation to Segment Results

						Year Ended December 31, 2020
(Dollars in millions)						Credit Card						Consumer Banking						Commercial Banking(1)						Other(1)						Consolidated Total
Contract revenue:
Interchange fees, net(2)						$	2,747					$	209					$	63					$	(2)					$	3,017
Service charges and other customer-related fees						0						188						175						(1)						362
Other						315						39						4						0						358
Total contract revenue						3,062						436						242						(3)						3,737
Revenue from other sources						761						30						681						401						1,873
Total non-interest income						$	3,823					$	466					$	923					$	398					$	5,610

						Year Ended December 31, 2019
(Dollars in millions)						Credit Card						Consumer Banking						Commercial Banking(1)						Other(1)						Consolidated Total
Contract revenue:
Interchange fees, net(2)						$	2,925					$	205					$	55					$	(6)					$	3,179
Service charges and other customer-related fees						0						298						120						(1)						417
Other						120						101						3						0						224
Total contract revenue						3,045						604						178						(7)						3,820
Revenue from other sources						843						39						653						(102)						1,433
Total non-interest income						$	3,888					$	643					$	831					$	(109)					$	5,253

						Year Ended December 31, 2018
(Dollars in millions)						Credit Card						Consumer Banking						Commercial Banking(1)						Other(1)						Consolidated Total
Contract revenue:
Interchange fees, net(2)						$	2,609					$	185					$	33					$	(4)					$	2,823
Service charges and other customer-related fees						0						367						123						(1)						489
Other						8						109						2						0						119
Total contract revenue						2,617						661						158						(5)						3,431
Revenue from other sources						903						2						586						279						1,770
Total non-interest income						$	3,520					$	663					$	744					$	274					$	5,201

__________

(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% for all periods presented) and state taxes where applicable, with offsetting reductions to the Other category.

(2)Interchange fees are presented net of customer reward expenses of $4.9 billion for the years ended December 31, 2020 and 2019 and $4.4 billion for the year ended December 31, 2018.

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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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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