XML 41 R32.htm IDEA: XBRL DOCUMENT v3.23.3

Strategic Lines of Business (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Business Segment Financial Results

Business segment financial results were as follows:

			Commercial Bank						Retail Bank						Wealth Management						Finance						Other						Total
(dollar amounts in millions)
Three Months Ended September 30, 2023
Earnings summary:
Net interest income (expense)			$	505					$	208					$	49					$	(187)					$	26					$	601
Provision for credit losses			22						—						(9)						—						1						14
Noninterest income			150						31						78						40						(4)						295
Noninterest expenses			257						175						102						1						20						555
Provision (benefit) for income taxes			89						16						9						(37)						(1)						76
Net income (loss)			$	287					$	48					$	25					$	(111)					$	2					$	251
Net charge-offs			$	6					$	—					$	—					$	—					$	—					$	6
Selected average balances:
Assets			$	49,459					$	2,985					$	5,557					$	19,832					$	11,317					$	89,150
Loans			46,477						2,250						5,227						—						33						53,987
Deposits			31,868						24,034						3,950						5,711						320						65,883
Statistical data:
Return on average assets (a)			2.30		%				0.78		%				1.81		%				n/m						n/m						1.12		%
Efficiency ratio (b)			39.34						72.70						80.01						n/m						n/m						61.86
Three Months Ended September 30, 2022
Earnings summary:
Net interest income (expense)			$	478					$	188					$	55					$	(22)					$	8					$	707
Provision for credit losses			16						2						5						—						5						28
Noninterest income			169						29						77						6						(3)						278
Noninterest expenses			242						170						87						—						3						502
Provision (benefit) for income taxes			94						11						10						(6)						(5)						104
Net income (loss)			$	295					$	34					$	30					$	(10)					$	2					$	351
Net charge-offs			$	13					$	—					$	—					$	—					$	—					$	13
Selected average balances:
Assets			$	48,323					$	2,799					$	5,097					$	22,140					$	7,063					$	85,422
Loans			44,043						2,066						4,973						—						31						51,113
Deposits			41,471						26,665						5,293						144						403						73,976
Statistical data:
Return on average assets (a)			2.42		%				0.51		%				2.08		%				n/m						n/m						1.63		%
Efficiency ratio (b)			37.54						77.00						65.86						n/m						n/m						50.75

(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 gains (losses) from securities, a derivative contract tied to the conversion rate of Visa Class B shares and changes in the value of shares obtained through monetization of warrants.

n/m – not meaningful

(dollar amounts in millions)			Commercial Bank						Retail Bank						Wealth Management						Finance						Other						Total
Nine Months Ended September 30, 2023
Earnings summary:
Net interest income (expense)			$	1,550					$	644					$	158					$	(493)					$	71					$	1,930
Provision for credit losses			80						2						(9)						—						4						77
Noninterest income			460						89						233						93						5						880
Noninterest expenses			757						511						297						4						72						1,641
Provision (benefit) for income taxes			270						53						25						(101)						(3)						244
Net income (loss)			$	903					$	167					$	78					$	(303)					$	3					$	848
Net charge-offs			$	1					$	—					$	1					$	—					$	—					$	2
Selected average balances:
Assets			$	49,906					$	2,944					$	5,510					$	20,469					$	9,400					$	88,229
Loans			46,797						2,223						5,256						—						—						54,276
Deposits			33,204						24,394						4,200						3,858						353						66,009
Statistical data:
Return on average assets (a)			2.42		%				0.89		%				1.92		%				n/m						n/m						1.29		%
Efficiency ratio (b)			37.64						69.23						75.70						n/m						n/m						58.26
Nine Months Ended September 30, 2022
Earnings summary:
Net interest income (expense)			$	1,232					$	464					$	138					$	(118)					$	8					$	1,724
Provision for credit losses			1						7						11						—						8						27
Noninterest income			461						89						226						36						(22)						790
Noninterest expenses			712						508						259						—						(22)						1,457
Provision (benefit) for income taxes			229						9						23						(25)						(7)						229
Net income (loss)			$	751					$	29					$	71					$	(57)					$	7					$	801
Net charge-offs (recoveries)			$	24					$	(1)					$	(2)					$	—					$	—					$	21
Selected average balances:
Assets			$	46,992					$	2,791					$	4,974					$	20,831					$	12,852					$	88,440
Loans			42,928						2,031						4,841						—						15						49,815
Deposits			43,733						26,890						5,520						300						428						76,871
Statistical data:
Return on average assets (a)			2.07		%				0.15		%				1.61		%				n/m						n/m						1.21		%
Efficiency ratio (b)			41.95						90.82						71.08						n/m						n/m						57.67

(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 gains (losses) from securities, a derivative contract tied to the conversion rate of Visa Class B shares and changes in the value of shares obtained through monetization of warrants.

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
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: 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 3: 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 4: 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

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration