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Business segments (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Contribution of Segments to Overall Profitability | The following consolidating schedules present the contribution of our segments to our overall profitability.
For the quarter ended Sept. 30, 2025 | Securities Services |  | Market and Wealth Services |  | Investment and Wealth Management |  | Other |  | Consolidated |
(dollars in millions) |
Total fee and other revenue | $ | 1,789 |  |  | $ | 1,243 |  |  | $ | 783 |  | (a) | $ | 18 |  |  | $ | 3,833 |  | (a)
Net interest income | 670 |  |  | 524 |  |  | 41 |  |  | 1 |  |  | 1,236 |  |
Total revenue | 2,459 |  |  | 1,767 |  |  | 824 |  | (a) | 19 |  |  | 5,069 |  | (a)
Provision for credit losses | (3) |  |  | (3) |  |  | — |  |  | (1) |  |  | (7) |  |
Noninterest expense | 1,656 |  |  | 895 |  |  | 640 |  |  | 45 |  |  | 3,236 |  |
Income (loss) before income taxes | $ | 806 |  |  | $ | 875 |  |  | $ | 184 |  | (a) | $ | (25) |  |  | $ | 1,840 |  | (a)
Pre-tax operating margin (b) | 33 | % |  | 50 | % |  | 22 | % |  | N/M |  | 36 | % |
Average assets | $ | 202,454 |  |  | $ | 137,103 |  |  | $ | 27,247 |  |  | $ | 70,687 |  |  | $ | 437,491 |  |
(a) Total fee and other revenue, total revenue and income before income taxes are net of income attributable to noncontrolling interests related to consolidated investment management funds of $12 million. (b) Income before income taxes divided by total revenue. N/M – Not meaningful.
For the quarter ended June 30, 2025 | Securities Services |  | Market and Wealth Services |  | Investment and Wealth Management |  | Other |  | Consolidated |
(dollars in millions) |
Total fee and other revenue | $ | 1,799 |  |  | $ | 1,236 |  |  | $ | 760 |  | (a) | $ | 18 |  |  | $ | 3,813 |  | (a)
Net interest income (expense) | 675 |  |  | 506 |  |  | 41 |  |  | (19) |  |  | 1,203 |  |
Total revenue | 2,474 |  |  | 1,742 |  |  | 801 |  | (a) | (1) |  |  | 5,016 |  | (a)
Provision for credit losses | (13) |  |  | (6) |  |  | — |  |  | 2 |  |  | (17) |  |
Noninterest expense | 1,620 |  |  | 897 |  |  | 653 |  |  | 36 |  |  | 3,206 |  |
Income (loss) before income taxes | $ | 867 |  |  | $ | 851 |  |  | $ | 148 |  | (a) | $ | (39) |  |  | $ | 1,827 |  | (a)
Pre-tax operating margin (b) | 35 | % |  | 49 | % |  | 19 | % |  | N/M |  | 37 | % |
Average assets | $ | 206,552 |  |  | $ | 135,119 |  |  | $ | 27,114 |  |  | $ | 69,823 |  |  | $ | 438,608 |  |
(a) Total fee and other revenue, total revenue and income before income taxes are net of income attributable to noncontrolling interests related to consolidated investment management funds of $12 million. (b) Income before income taxes divided by total revenue. N/M – Not meaningful.
For the quarter ended Sept. 30, 2024 | Securities Services |  | Market and Wealth Services |  | Investment and Wealth Management |  | Other |  | Consolidated |
(dollars in millions) |
Total fee and other revenue | $ | 1,605 |  |  | $ | 1,130 |  |  | $ | 804 |  | (a) | $ | 54 |  |  | $ | 3,593 |  | (a)
Net interest income (expense) | 609 |  |  | 415 |  |  | 45 |  |  | (21) |  |  | 1,048 |  |
Total revenue | 2,214 |  |  | 1,545 |  |  | 849 |  | (a) | 33 |  |  | 4,641 |  | (a)
Provision for credit losses | 15 |  |  | 7 |  |  | 1 |  |  | — |  |  | 23 |  |
Noninterest expense | 1,557 |  |  | 834 |  |  | 672 |  |  | 37 |  |  | 3,100 |  |
Income (loss) before income taxes | $ | 642 |  |  | $ | 704 |  |  | $ | 176 |  | (a) | $ | (4) |  |  | $ | 1,518 |  | (a)
Pre-tax operating margin (b) | 29 | % |  | 46 | % |  | 21 | % |  | N/M |  | 33 | % |
Average assets | $ | 199,057 |  |  | $ | 122,526 |  |  | $ | 26,525 |  |  | $ | 68,289 |  |  | $ | 416,397 |  |
(a) Total fee and other revenue, total revenue and income before income taxes are net of income attributable to noncontrolling interests related to consolidated investment management funds of $7 million. (b) Income before income taxes divided by total revenue. N/M – Not meaningful.
For the nine months ended Sept. 30, 2025 | Securities Services |  | Market and Wealth Services |  | Investment and Wealth Management |  | Other |  | Consolidated |
(dollars in millions) |
Total fee and other revenue | $ | 5,258 |  |  | $ | 3,668 |  |  | $ | 2,281 |  | (a) | $ | 70 |  |  | $ | 11,277 |  | (a)
Net interest income (expense) | 1,975 |  |  | 1,527 |  |  | 123 |  |  | (27) |  |  | 3,598 |  |
Total revenue | 7,233 |  |  | 5,195 |  |  | 2,404 |  | (a) | 43 |  |  | 14,875 |  | (a)
Provision for credit losses | (8) |  |  | (5) |  |  | 2 |  |  | 5 |  |  | (6) |  |
Noninterest expense | 4,860 |  |  | 2,658 |  |  | 2,007 |  |  | 169 |  |  | 9,694 |  |
Income (loss) before income taxes | $ | 2,381 |  |  | $ | 2,542 |  |  | $ | 395 |  | (a) | $ | (131) |  |  | $ | 5,187 |  | (a)
Pre-tax operating margin (b) | 33 | % |  | 49 | % |  | 16 | % |  | N/M |  | 35 | % |
Average assets | $ | 201,330 |  |  | $ | 133,851 |  |  | $ | 26,924 |  |  | $ | 68,622 |  |  | $ | 430,727 |  |
(a) Total fee and other revenue, total revenue and income before income taxes are net of income attributable to noncontrolling interests related to consolidated investment management funds of $26 million. (b) Income before income taxes divided by total revenue. N/M – Not meaningful.
For the nine months ended Sept. 30, 2024 | Securities Services |  | Market and Wealth Services |  | Investment and Wealth Management |  | Other |  | Consolidated |
(dollars in millions) |
Total fee and other revenue | $ | 4,805 |  |  | $ | 3,342 |  |  | $ | 2,387 |  | (a) | $ | 109 |  |  | $ | 10,643 |  | (a)
Net interest income (expense) | 1,787 |  |  | 1,255 |  |  | 129 |  |  | (53) |  |  | 3,118 |  |
Total revenue | 6,592 |  |  | 4,597 |  |  | 2,516 |  | (a) | 56 |  |  | 13,761 |  | (a)
Provision for credit losses | 23 |  |  | 10 |  |  | 4 |  |  | 13 |  |  | 50 |  |
Noninterest expense | 4,648 |  |  | 2,501 |  |  | 2,080 |  |  | 117 |  |  | 9,346 |  |
Income (loss) before income taxes | $ | 1,921 |  |  | $ | 2,086 |  |  | $ | 432 |  | (a) | $ | (74) |  |  | $ | 4,365 |  | (a)
Pre-tax operating margin (b) | 29 | % |  | 45 | % |  | 17 | % |  | N/M |  | 32 | % |
Average assets | $ | 195,552 |  |  | $ | 123,619 |  |  | $ | 26,277 |  |  | $ | 65,532 |  |  | $ | 410,980 |  |
(a) Total fee and other revenue, total revenue and income before income taxes are net of income attributable to noncontrolling interests related to consolidated investment management funds of $11 million. (b) Income before income taxes divided by total revenue. N/M – Not meaningful.

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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