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Business Segments and Revenue from Contracts with Customers (Tables) | 9 Months Ended
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Sep. 30, 2022
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, 2022 and 2021, selected balance sheet data as of September 30, 2022 and 2021, 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, 2022
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking(1) |  | Other(1) |  | Consolidated Total
Net interest income (loss) |  | $ | 4,313 |  |  | $ | 2,311 |  |  | $ | 699 |  |  | $ | (320) |  |  | $ | 7,003 |
Non-interest income (loss) |  | 1,454 |  |  | 129 |  |  | 319 |  |  | (100) |  |  | 1,802 |
Total net revenue (loss)(2) |  | 5,767 |  |  | 2,440 |  |  | 1,018 |  |  | (420) |  |  | 8,805 |
Provision (benefit) for credit losses |  | 1,261 |  |  | 285 |  |  | 123 |  |  | 0 |  |  | 1,669 |
Non-interest expense |  | 3,004 |  |  | 1,340 |  |  | 542 |  |  | 63 |  |  | 4,949 |
Income (loss) from continuing operations before income taxes |  | 1,502 |  |  | 815 |  |  | 353 |  |  | (483) |  |  | 2,187 |
Income tax provision (benefit) |  | 356 |  |  | 193 |  |  | 83 |  |  | (139) |  |  | 493 |
Income (loss) from continuing operations, net of tax |  | $ | 1,146 |  |  | $ | 622 |  |  | $ | 270 |  |  | $ | (344) |  |  | $ | 1,694 |
Loans held for investment |  | $ | 126,913 |  |  | $ | 81,199 |  |  | $ | 95,831 |  |  | $ | 0 |  |  | $ | 303,943 |
Deposits |  | 0 |  |  | 256,661 |  |  | 41,058 |  |  | 19,474 |  |  | 317,193 |
|  | Nine Months Ended September 30, 2022
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking(1) |  | Other(1) |  | Consolidated Total
Net interest income (loss) |  | $ | 12,051 |  |  | $ | 6,571 |  |  | $ | 1,941 |  |  | $ | (646) |  |  | $ | 19,917 |
Non-interest income (loss) |  | 4,322 |  |  | 330 |  |  | 868 |  |  | (227) |  |  | 5,293 |
Total net revenue (loss)(2) |  | 16,373 |  |  | 6,901 |  |  | 2,809 |  |  | (873) |  |  | 25,210 |
Provision (benefit) for credit losses |  | 2,387 |  |  | 696 |  |  | 353 |  |  | (5) |  |  | 3,431 |
Non-interest expense |  | 8,558 |  |  | 3,862 |  |  | 1,515 |  |  | 148 |  |  | 14,083 |
Income (loss) from continuing operations before income taxes |  | 5,428 |  |  | 2,343 |  |  | 941 |  |  | (1,016) |  |  | 7,696 |
Income tax provision (benefit) |  | 1,291 |  |  | 555 |  |  | 223 |  |  | (501) |  |  | 1,568 |
Income (loss) from continuing operations, net of tax |  | $ | 4,137 |  |  | $ | 1,788 |  |  | $ | 718 |  |  | $ | (515) |  |  | $ | 6,128 |
Loans held for investment |  | $ | 126,913 |  |  | $ | 81,199 |  |  | $ | 95,831 |  |  | $ | 0 |  |  | $ | 303,943 |
Deposits |  | 0 |  |  | 256,661 |  |  | 41,058 |  |  | 19,474 |  |  | 317,193 |
|  | Three Months Ended September 30, 2021
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking(1) |  | Other(1) |  | Consolidated Total
Net interest income (loss) |  | $ | 3,620 |  |  | $ | 2,159 |  |  | $ | 578 |  |  | $ | (201) |  |  | $ | 6,156 |
Non-interest income (loss) |  | 1,263 |  |  | 127 |  |  | 306 |  |  | (22) |  |  | 1,674 |
Total net revenue (loss)(2) |  | 4,883 |  |  | 2,286 |  |  | 884 |  |  | (223) |  |  | 7,830 |
Provision (benefit) for credit losses |  | (198) |  |  | (91) |  |  | (53) |  |  | 0 |  |  | (342) |
Non-interest expense |  | 2,424 |  |  | 1,186 |  |  | 459 |  |  | 117 |  |  | 4,186 |
Income (loss) from continuing operations before income taxes |  | 2,657 |  |  | 1,191 |  |  | 478 |  |  | (340) |  |  | 3,986 |
Income tax provision (benefit) |  | 627 |  |  | 282 |  |  | 113 |  |  | (140) |  |  | 882 |
Income (loss) from continuing operations, net of tax |  | $ | 2,030 |  |  | $ | 909 |  |  | $ | 365 |  |  | $ | (200) |  |  | $ | 3,104 |
Loans held for investment |  | $ | 105,030 |  |  | $ | 77,112 |  |  | $ | 79,248 |  |  | $ | 0 |  |  | $ | 261,390 |
Deposits |  | 0 |  |  | 252,387 |  |  | 43,347 |  |  | 10,204 |  |  | 305,938 |
|  | Nine Months Ended September 30, 2021
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking(1) |  | Other(1) |  | Consolidated Total
Net interest income (loss) |  | $ | 10,209 |  |  | $ | 6,290 |  |  | $ | 1,558 |  |  | $ | (336) |  |  | $ | 17,721 |
Non-interest income (loss) |  | 3,545 |  |  | 412 |  |  | 803 |  |  | (164) |  |  | 4,596 |
Total net revenue (loss)(2) |  | 13,754 |  |  | 6,702 |  |  | 2,361 |  |  | (500) |  |  | 22,317 |
Benefit for credit losses |  | (1,325) |  |  | (523) |  |  | (475) |  |  | (2) |  |  | (2,325) |
Non-interest expense |  | 6,822 |  |  | 3,426 |  |  | 1,295 |  |  | 349 |  |  | 11,892 |
Income (loss) from continuing operations before income taxes |  | 8,257 |  |  | 3,799 |  |  | 1,541 |  |  | (847) |  |  | 12,750 |
Income tax provision (benefit) |  | 1,952 |  |  | 897 |  |  | 364 |  |  | (431) |  |  | 2,782 |
Income (loss) from continuing operations, net of tax |  | $ | 6,305 |  |  | $ | 2,902 |  |  | $ | 1,177 |  |  | $ | (416) |  |  | $ | 9,968 |
Loans held for investment |  | $ | 105,030 |  |  | $ | 77,112 |  |  | $ | 79,248 |  |  | $ | 0 |  |  | $ | 261,390 |
Deposits |  | 0 |  |  | 252,387 |  |  | 43,347 |  |  | 10,204 |  |  | 305,938 |
__________ (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 $222 million and $625 million in the three and nine months ended September 30, 2022, respectively, and $123 million and $478 million in the three and nine months ended September 30, 2021, respectively, 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 and nine months ended September 30, 2022 and 2021. Table 12.2: Revenue from Contracts with Customers and Reconciliation to Segment Results
|  | Three Months Ended September 30, 2022
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking(1) |  | Other(1) |  | Consolidated Total
Contract revenue: |  |  |  |  |  |  |  |  |  |
Interchange fees, net(2) |  | $ | 1,085 |  |  | $ | 83 |  |  | $ | 27 |  |  | $ | 0 |  |  | $ | 1,195 |
Service charges and other customer-related fees |  | 0 |  |  | 23 |  |  | 62 |  |  | 0 |  |  | 85 |
Other |  | 104 |  |  | 18 |  |  | 13 |  |  | 0 |  |  | 135 |
Total contract revenue |  | 1,189 |  |  | 124 |  |  | 102 |  |  | 0 |  |  | 1,415 |
Revenue (reduction) from other sources |  | 265 |  |  | 5 |  |  | 217 |  |  | (100) |  |  | 387 |
Total non-interest income (loss) |  | $ | 1,454 |  |  | $ | 129 |  |  | $ | 319 |  |  | $ | (100) |  |  | $ | 1,802 |
|  | Nine Months Ended September 30, 2022
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking(1) |  | Other(1) |  | Consolidated Total
Contract revenue: |  |  |  |  |  |  |  |  |  |
Interchange fees, net(2) |  | $ | 3,115 |  |  | $ | 234 |  |  | $ | 79 |  |  | $ | 1 |  |  | $ | 3,429 |
Service charges and other customer-related fees |  | 0 |  |  | 70 |  |  | 190 |  |  | (1) |  |  | 259 |
Other |  | 297 |  |  | 56 |  |  | 14 |  |  | 0 |  |  | 367 |
Total contract revenue |  | 3,412 |  |  | 360 |  |  | 283 |  |  | 0 |  |  | 4,055 |
Revenue (reduction) from other sources |  | 910 |  |  | (30) |  |  | 585 |  |  | (227) |  |  | 1,238 |
Total non-interest income (loss) |  | $ | 4,322 |  |  | $ | 330 |  |  | $ | 868 |  |  | $ | (227) |  |  | $ | 5,293 |
|  | Three Months Ended September 30, 2021
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking(1) |  | Other(1) |  | Consolidated Total
Contract revenue: |  |  |  |  |  |  |  |  |  |
Interchange fees, net(2) |  | $ | 930 |  |  | $ | 68 |  |  | $ | 24 |  |  | $ | 0 |  |  | $ | 1,022 |
Service charges and other customer-related fees |  | 0 |  |  | 42 |  |  | 71 |  |  | 0 |  |  | 113 |
Other |  | 98 |  |  | 17 |  |  | 1 |  |  | 0 |  |  | 116 |
Total contract revenue |  | 1,028 |  |  | 127 |  |  | 96 |  |  | 0 |  |  | 1,251 |
Revenue (reduction) from other sources |  | 235 |  |  | 0 |  |  | 210 |  |  | (22) |  |  | 423 |
Total non-interest income (loss) |  | $ | 1,263 |  |  | $ | 127 |  |  | $ | 306 |  |  | $ | (22) |  |  | $ | 1,674 |
|  | Nine Months Ended September 30, 2021
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking(1) |  | Other(1) |  | Consolidated Total
Contract revenue: |  |  |  |  |  |  |  |  |  |
Interchange fees, net(2) |  | $ | 2,598 |  |  | $ | 192 |  |  | $ | 65 |  |  | $ | 0 |  |  | $ | 2,855 |
Service charges and other customer-related fees |  | 0 |  |  | 131 |  |  | 187 |  |  | 0 |  |  | 318 |
Other |  | 262 |  |  | 55 |  |  | 3 |  |  | 0 |  |  | 320 |
Total contract revenue |  | 2,860 |  |  | 378 |  |  | 255 |  |  | 0 |  |  | 3,493 |
Revenue (reduction) from other sources |  | 685 |  |  | 34 |  |  | 548 |  |  | (164) |  |  | 1,103 |
Total non-interest income (loss) |  | $ | 3,545 |  |  | $ | 412 |  |  | $ | 803 |  |  | $ | (164) |  |  | $ | 4,596 |
__________ (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.

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