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Business Segments and Revenue from Contracts with Customers (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of Segment Results and Reconciliation | The following table presents our business segment results for the three months ended March 31, 2024 and 2023, selected balance sheet data as of March 31, 2024 and 2023, and a reconciliation of our total business segment results to our reported consolidated income from continuing operations, loans held for investment and deposits. Table 13.1: Segment Results and Reconciliation
|  | Three Months Ended March 31, 2024
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking(1) |  | Other(1) |  | Consolidated Total
Net interest income (loss) |  | $ | 5,272 |  |  | $ | 2,011 |  |  | $ | 599 |  |  | $ | (394) |  |  | $ | 7,488 |
Non-interest income (loss) |  | 1,476 |  |  | 159 |  |  | 281 |  |  | (2) |  |  | 1,914 |
Total net revenue (loss)(2) |  | 6,748 |  |  | 2,170 |  |  | 880 |  |  | (396) |  |  | 9,402 |
Provision (benefit) for credit losses |  | 2,259 |  |  | 426 |  |  | (2) |  |  | 0 |  |  | 2,683 |
Non-interest expense |  | 3,229 |  |  | 1,246 |  |  | 515 |  |  | 147 |  |  | 5,137 |
Income (loss) from continuing operations before income taxes |  | 1,260 |  |  | 498 |  |  | 367 |  |  | (543) |  |  | 1,582 |
Income tax provision (benefit) |  | 299 |  |  | 117 |  |  | 87 |  |  | (201) |  |  | 302 |
Income (loss) from continuing operations, net of tax |  | $ | 961 |  |  | $ | 381 |  |  | $ | 280 |  |  | $ | (342) |  |  | $ | 1,280 |
Loans held for investment |  | $ | 150,594 |  |  | $ | 75,099 |  |  | $ | 89,461 |  |  | $ | 0 |  |  | $ | 315,154 |
Deposits |  | 0 |  |  | 300,806 |  |  | 31,082 |  |  | 19,081 |  |  | 350,969 |
|  | Three Months Ended March 31, 2023
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking(1) |  | Other(1) |  | Consolidated Total
Net interest income (loss) |  | $ | 4,657 |  |  | $ | 2,360 |  |  | $ | 648 |  |  | $ | (479) |  |  | $ | 7,186 |
Non-interest income |  | 1,363 |  |  | 135 |  |  | 212 |  |  | 7 |  |  | 1,717 |
Total net revenue (loss)(2) |  | 6,020 |  |  | 2,495 |  |  | 860 |  |  | (472) |  |  | 8,903 |
Provision (benefit) for credit losses |  | 2,261 |  |  | 275 |  |  | 259 |  |  | 0 |  |  | 2,795 |
Non-interest expense |  | 3,038 |  |  | 1,283 |  |  | 530 |  |  | 94 |  |  | 4,945 |
Income (loss) from continuing operations before income taxes |  | 721 |  |  | 937 |  |  | 71 |  |  | (566) |  |  | 1,163 |
Income tax provision (benefit) |  | 172 |  |  | 221 |  |  | 17 |  |  | (207) |  |  | 203 |
Income (loss) from continuing operations, net of tax |  | $ | 549 |  |  | $ | 716 |  |  | $ | 54 |  |  | $ | (359) |  |  | $ | 960 |
Loans held for investment |  | $ | 137,142 |  |  | $ | 78,151 |  |  | $ | 93,543 |  |  | $ | 0 |  |  | $ | 308,836 |
Deposits |  | 0 |  |  | 291,163 |  |  | 38,380 |  |  | 20,284 |  |  | 349,827 |
_________ (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 $630 million and $405 million in the first quarters of 2024 and 2023, 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 months ended March 31, 2024 and 2023. Table 13.2: Revenue from Contracts with Customers and Reconciliation to Segment Results
|  | Three Months Ended March 31, 2024
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking(1) |  | Other(1) |  | Consolidated Total
Contract revenue: |  |  |  |  |  |  |  |  |  |
Interchange fees, net(2) |  | $ | 1,020 |  |  | $ | 98 |  |  | $ | 27 |  |  | $ | 0 |  |  | $ | 1,145 |
Service charges and other customer-related fees |  | 0 |  |  | 4 |  |  | 74 |  |  | 0 |  |  | 78 |
Other |  | 121 |  |  | 44 |  |  | 2 |  |  | 0 |  |  | 167 |
Total contract revenue |  | 1,141 |  |  | 146 |  |  | 103 |  |  | 0 |  |  | 1,390 |
Revenue (reduction) from other sources |  | 335 |  |  | 13 |  |  | 178 |  |  | (2) |  |  | 524 |
Total non-interest income (loss) |  | $ | 1,476 |  |  | $ | 159 |  |  | $ | 281 |  |  | $ | (2) |  |  | $ | 1,914 |
|  | Three Months Ended March 31, 2023
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking(1) |  | Other(1) |  | Consolidated Total
Contract revenue: |  |  |  |  |  |  |  |  |  |
Interchange fees, net(2) |  | $ | 1,025 |  |  | $ | 86 |  |  | $ | 27 |  |  | $ | 1 |  |  | $ | 1,139 |
Service charges and other customer-related fees |  | 0 |  |  | 21 |  |  | 40 |  |  | (1) |  |  | 60 |
Other |  | 55 |  |  | 19 |  |  | 5 |  |  | 0 |  |  | 79 |
Total contract revenue |  | 1,080 |  |  | 126 |  |  | 72 |  |  | 0 |  |  | 1,278 |
Revenue from other sources |  | 283 |  |  | 9 |  |  | 140 |  |  | 7 |  |  | 439 |
Total non-interest income |  | $ | 1,363 |  |  | $ | 135 |  |  | $ | 212 |  |  | $ | 7 |  |  | $ | 1,717 |
__________ (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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