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Fee-Based Revenue from Contracts with Customers | 9 Months Ended
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Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
Fee-Based Revenue from Contracts with Customers | FEE-BASED R EVENUE FROM C ONTRACTS WITH C USTOMERS As more fully described in Note 23 Fee-based Revenue from Contracts with Customers in our 2023 Form 10-K, a subset of our noninterest income relates to certain fee-based revenue within the scope of ASC Topic 606 - Revenue from Contracts with Customers (Topic 606). Fee-based revenue within the scope of Topic 606 is recognized within our three reportable business segments: Retail Banking, Corporate & Institutional Banking and Asset Management Group. Interest income, income from lease contracts, fair value gains from financial instruments (including derivatives), income from mortgage servicing rights and guarantee products, letter of credit fees, non-refundable fees associated with acquiring or originating a loan and gains from the sale of financial assets are outside of the scope of Topic 606. Table 80 presents the noninterest income recognized within the scope of Topic 606 for each of our three reportable business segments’ principal products and services, along with the relationship to the noninterest income revenue streams shown on our Consolidated Income Statement. For a description of the fee-based revenue and how it is recognized for each segment’s principal products and services, see Note 23 Fee-based Revenue from Contracts with Customers in our 2023 Form 10-K. Table 80: Noninterest Income by Business Segment and Reconciliation to Consolidated Noninterest Income
|  | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023
|  | Retail Banking |  | Corporate & Institutional Banking |  | Asset Management Group | Retail Banking |  | Corporate & Institutional Banking |  | Asset Management Group
Asset management and brokerage |  |  |  |  |  |  |  |  |  |  |
Asset management fees |  |  |  |  |  | $ | 238 |  |  |  |  |  | $ | 217 |
Brokerage fees |  | $ | 145 |  |  |  |  |  |  | $ | 129 |  |  |  |  | 2 |
Total asset management and brokerage |  | 145 |  |  |  |  | 238 |  | 129 |  |  |  |  | 219 |
Card and cash management |  |  |  |  |  |  |  |  |  |  |
Treasury management fees |  | 10 |  |  | $ | 372 |  |  |  | 10 |  |  | $ | 351 |  |  |
Debit card fees |  | 177 |  |  |  |  |  |  | 175 |  |  |  |  |
Net credit card fees (a) |  | 46 |  |  |  |  |  |  | 54 |  |  |  |  |
Merchant services |  | 40 |  |  | 18 |  |  |  | 42 |  |  | 20 |  |  |
Other |  | 23 |  |  |  |  |  |  | 24 |  |  |  |  |
Total card and cash management |  | 296 |  |  | 390 |  |  |  | 305 |  |  | 371 |  |  |
Lending and deposit services |  |  |  |  |  |  |  |  |  |  |
Deposit account fees |  | 166 |  |  |  |  |  | 170 |  |  |  |  |
Other |  | 19 |  |  | 7 |  |  |  | 18 |  |  | 8 |  |  |
Total lending and deposit services |  | 185 |  |  | 7 |  |  |  | 188 |  |  | 8 |  |  |
Residential and commercial mortgage (b) |  |  |  | 32 |  |  |  |  |  | 32 |  |  |
Capital markets and advisory |  |  |  | 261 |  |  |  |  |  | 124 |  |  |
Other |  |  |  | 16 |  |  |  |  |  | 22 |  |  |
Total in-scope noninterest income |  | 626 |  |  | 706 |  |  | 238 |  | 622 |  |  | 557 |  |  | 219 |
Out-of-scope noninterest income (c) |  | 75 |  |  | 324 |  |  | 4 |  | 162 |  |  | 278 |  |  | 4 |
Noninterest income by business segment |  | $ | 701 |  |  | $ | 1,030 |  |  | $ | 242 |  | $ | 784 |  |  | $ | 835 |  |  | $ | 223 |
Reconciliation to consolidated noninterest income |  |  |
Total in-scope business segment noninterest income |  |  |  |  |  | $ | 1,570 |  |  |  |  |  | $ | 1,398 |
Out-of-scope business segment noninterest income (c) |  |  |  |  |  | 403 |  |  |  |  |  | 444 |
Noninterest income from Other (d) |  |  |  |  |  | 49 |  |  |  |  |  | (27) |
Noninterest income as shown on the Consolidated Income Statement |  |  |  |  |  | $ | 2,022 |  |  |  |  |  | $ | 1,815 |
(Continued from previous page) |  | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023
|  | Retail Banking |  | Corporate & Institutional Banking |  | Asset Management Group | Retail Banking |  | Corporate & Institutional Banking |  | Asset Management Group
Asset management and brokerage |  |  |  |  |  |  |  |  |  |  |
Asset management fees |  |  |  |  |  | $ | 694 |  |  |  |  |  | $ | 663 |
Brokerage fees |  | $ | 417 |  |  |  |  |  |  | $ | 383 |  |  |  |  | 6 |
Total asset management and brokerage |  | 417 |  |  |  |  | 694 |  | 383 |  |  |  |  | 669 |
Card and cash management |  |  |  |  |  |  |  |  |  |  |
Treasury management fees |  | 31 |  |  | $ | 1,100 |  |  |  | 31 |  |  | $ | 1,024 |  |  |
Debit card fees |  | 520 |  |  |  |  |  | 518 |  |  |  |  |  |
Net credit card fees (a) |  | 149 |  |  |  |  |  | 173 |  |  |  |  |  |
Merchant services |  | 118 |  |  | 56 |  |  |  | 126 |  |  | 58 |  |  |
Other |  | 67 |  |  |  |  |  | 73 |  |  |  |  |  |
Total card and cash management |  | 885 |  |  | 1,156 |  |  |  | 921 |  |  | 1,082 |  |  |
Lending and deposit services |  |  |  |  |  |  |  |  |  |  |
Deposit account fees |  | 479 |  |  |  |  |  | 476 |  |  |  |  |
Other |  | 54 |  |  | 24 |  |  |  | 54 |  |  | 24 |  |  |
Total lending and deposit services |  | 533 |  |  | 24 |  |  |  | 530 |  |  | 24 |  |  |
Residential and commercial mortgage (b) |  |  |  | 90 |  |  |  |  |  | 114 |  |  |
Capital markets and advisory |  |  |  | 644 |  |  |  |  |  | 410 |  |  |
Other |  |  |  | 44 |  |  |  |  |  | 44 |  |  |
Total in-scope noninterest income |  | 1,835 |  |  | 1,958 |  |  | 694 |  | 1,834 |  |  | 1,674 |  |  | 669 |
Out-of-scope noninterest income (c) |  | 1,039 |  |  | 902 |  |  | 13 |  | 395 |  |  | 868 |  |  | 12 |
Noninterest income by business segment |  | $ | 2,874 |  |  | $ | 2,860 |  |  | $ | 707 |  | $ | 2,229 |  |  | $ | 2,542 |  |  | $ | 681 |
Reconciliation to consolidated noninterest income |  |  |  |  |  |  |
Total in-scope business segment noninterest income |  |  |  |  |  | $ | 4,487 |  |  |  |  |  | $ | 4,177 |
Out-of-scope business segment noninterest income (c) |  |  |  |  |  | 1,954 |  |  |  |  |  | 1,275 |
Noninterest income from Other (d) |  |  |  |  |  | (429) |  |  |  |  |  | 164 |
Noninterest income as shown on the Consolidated Income Statement |  |  |  |  |  | $ | 6,012 |  |  |  |  |  | $ | 5,616 |
(a)Net credit card fees consist of interchange fees of $167 million and $169 million and credit card reward costs totaled $121 million and $115 million for the three months ended September 30, 2024 and 2023, respectively. Net credit card fees consist of interchange fees of $496 million and $502 million and credit card reward costs of $347 million and $329 million for the nine months ended September 30, 2024 and 2023, respectively. (b)Residential mortgage noninterest income falls under the scope of other accounting and disclosure requirements outside of Topic 606 and is included within the out-of-scope noninterest income line for the Retail Banking segment. (c)Out-of-scope noninterest income includes revenue streams that fall under the scope of other accounting and disclosure requirements outside of Topic 606. (d)Includes residual activities from corporate operations. For additional information see Note 14 Segment Reporting.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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