Net Revenue (Tables)

12 Months Ended

Dec. 31, 2019

Revenues [Abstract]

Disaggregation of Revenue [Table Text Block]

The following table presents the significant components of fees and service charges (dollars in millions):    

	Year Ended December 31,
	2019		2018		2017
Fees and service charges:
Order flow revenue	$	188	$	174	$	135
Money market funds and sweep deposits revenue	175		71		92
Advisor management and custody fees	77		64		36
Mutual fund service fees	51		48		39
Foreign exchange revenue	33		25		26
Reorganization fees	24		14		16
Other fees and service charges	40		35		25
Total fees and service charges	$	588	$	431	$	369

The following table presents the significant components of total net revenue (dollars in millions):

	Year Ended December 31,
	2019			2018		2017
Net interest income	$	1,852		$	1,846	$	1,485
Commissions	421			498		441
Fees and service charges	588			431		369
Gains (losses) on securities and other, net	(23		)	53		28
Other revenue	48			45		43
Total net revenue (1)	$	2,886		$	2,873	$	2,366

(1)

Contract balances and transaction price allocated to remaining performance obligations were not material for the periods presented.

Interest Income and Interest Expense Disclosure

The following table presents the significant components of interest income and interest expense (dollars in millions):

	Year Ended December 31,
	2019		2018		2017
Interest income:
Cash and equivalents	$	10	$	11	$	9
Cash segregated under federal or other regulations	26		15		12
Investment securities(1)	1,360		1,241		962
Margin receivables	482		491		320
Loans	104		128		157
Broker-related receivables and other	17		14		3
Subtotal interest income	1,999		1,900		1,463
Other interest revenue(2)	112		109		108
Total interest income	2,111		2,009		1,571
Interest expense:
Sweep deposits:
Brokerage sweep deposits	54		42		4
Bank sweep deposits(3)	11		—		—
Savings deposits	85		9		—
Customer payables	30		22		5
Broker-related payables and other	4		10		—
Other borrowings	9		25		22
Corporate debt	55		46		48
Subtotal interest expense	248		154		79
Other interest expense(4)	11		9		7
Total interest expense	259		163		86
Net interest income	$	1,852	$	1,846	$	1,485

(1) For the years ended December 31, 2019 and 2018, includes $3 million and $19 million, respectively, of net fair value hedging adjustments. Amounts for the year ended December 31, 2017 have not been reclassified to conform to current period presentation and continue to be reflected within the gains (losses) on securities and other, net line item. See Note 8—Derivative Instruments and Hedging Activities for additional information.

(2) Other interest revenue is earned on certain securities loaned balances. Interest expense incurred on other securities loaned balances is presented on the broker-related payables and other line item above.

(3) Beginning November 2019, bank sweep deposits include Premium Savings Accounts participating in a sweep deposit account program. Refer to Note 12—Deposits for additional information.

(4) Other interest expense is incurred on certain securities borrowed balances. Interest income earned on other securities borrowed balances is presented on the broker-related receivables and other line item above.