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Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Business Segment Financial Results

Business segment financial results are as follows:

(dollar amounts in millions)			Commercial Bank						Retail Bank						Wealth Management						Finance						Other						Total
Year Ended December 31, 2021
Earnings summary:
Net interest income (expense)			$	1,577					$	565					$	166					$	(471)					$	7					$	1,844
Provision for credit losses			(346)						(5)						(32)						—						(1)						(384)
Noninterest income			663						123						279						41						17						1,123
Noninterest expenses			873						645						317						1						25						1,861
Provision (benefit) for income taxes			384						5						36						(100)						(3)						322
Net income (loss)			$	1,329					$	43					$	124					$	(331)					$	3					$	1,168
Net credit-related (recoveries) charge-offs			$	(12)					$	2					$	—					$	—					$	—					$	(10)
Selected average balances:
Assets			$	43,874					$	3,213					$	5,028					$	17,705					$	20,332					$	90,152
Loans			41,804						2,382						4,903						—						(6)						49,083
Deposits			45,587						25,682						5,218						965						229						77,681
Statistical data:
Return on average assets (a)			2.71		%				0.16		%				2.24		%				n/m						n/m						1.30		%
Efficiency ratio (b)			38.98						92.98						71.02						n/m						n/m						62.60
Year Ended December 31, 2020
Earnings summary:
Net interest income (expense)			$	1,607					$	503					$	167					$	(384)					$	18					$	1,911
Provision for credit losses			495						7						35						—						—						537
Noninterest income			555						110						263						55						18						1,001
Noninterest expenses (c)			815						607						295						2						35						1,754
Provision (benefit) for income taxes (c)			184						(3)						22						(78)						(1)						124
Net income (loss) (c)			$	668					$	2					$	78					$	(253)					$	2					$	497
Net credit-related charge-offs			$	192					$	1					$	3					$	—					$	—					$	196
Selected average balances:
Assets			$	45,603					$	3,281					$	5,162					$	15,418					$	11,682					$	81,146
Loans			44,123						2,468						5,045						—						(5)						51,631
Deposits			36,603						22,832						4,402						1,026						175						65,038
Statistical data:
Return on average assets (a), (c)			1.47		%				—		%				1.51		%				n/m						n/m						0.61		%
Efficiency ratio (b), (c)			37.70						98.52						68.47						n/m						n/m						60.13

(Table continues on following page)

(dollar amounts in millions)			Commercial Bank						Retail Bank						Wealth Management						Finance						Other						Total
Year Ended December 31, 2019
Earnings summary:
Net interest income (expense)			$	1,655					$	568					$	183					$	(123)					$	56					$	2,339
Provision for credit losses			88						(4)						(14)						—						4						74
Noninterest income			555						132						270						41						12						1,010
Noninterest expenses (c)			793						594						282						1						67						1,737
Provision (benefit) for income taxes (c)			307						25						44						(26)						(14)						336
Net income (loss) (c)			$	1,022					$	85					$	141					$	(57)					$	11					$	1,202
Net credit-related charge-offs (recoveries)			$	111					$	1					$	(5)					$	—					$	—					$	107
Selected average balances:
Assets			$	44,946					$	2,852					$	5,083					$	13,903					$	4,704					$	71,488
Loans			43,477						2,104						4,935						—						(5)						50,511
Deposits			29,047						20,743						3,833						1,673						185						55,481
Statistical data:
Return on average assets (a), (c)			2.28		%				0.40		%				2.78		%				n/m						n/m						1.68		%
Efficiency ratio (b), (c)			35.87						84.16						62.15						n/m						n/m						51.65

(a)Return on average assets is calculated based on the greater of average assets or average liabilities and attributed equity.

(b)Noninterest expenses as a percentage of the sum of net interest income and noninterest income excluding net losses from securities and a derivative contract tied to the conversion rate of Visa Class B shares.

(c)See Defined Benefit Pension and Other Postretirement Costs in Note 1.

n/m – not meaningful

X

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

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