Segment information

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segment information

Reportable segments have been determined based upon the Company's organizational structure and its internal profitability reporting system, which is organized by strategic business unit. The reportable segments are Commercial Bank, Retail Bank and Institutional Services and Wealth Management.

The financial information of the Company's segments was compiled utilizing the accounting policies described in note 23 of Notes to Financial Statements in the Company's 2023 Annual Report. The management accounting policies and processes utilized in compiling segment financial information are highly subjective and, unlike financial accounting, are not based on authoritative guidance similar to GAAP. As a result, the financial information of the reported segments is not necessarily comparable with similar information reported by other financial institutions. Furthermore, changes in management structure or allocation methodologies and procedures may result in changes in reported segment financial data.

Information about the Company's segments follows:

	Three Months Ended September 30,
	2024								2023
(Dollars in millions)	Total Revenues(a)		Inter- segment Revenues		Net Income (Loss)		Total Average Assets		Total Revenues(a)		Inter- segment Revenues		Net Income (Loss)		Total Average Assets
Commercial Bank	$	723	$	—	$	239	$	80,434	$	738	$	1	$	251	$	80,473
Retail Bank	1,292		—		446		53,128		1,307		—		473		51,024
Institutional Services and Wealth    Management	389		4		137		3,898		363		3		120		3,664
All Other	(72)		(4)		(101)		72,121		(73)		(4)		(154)		70,630
Total	$	2,332	$	—	$	721	$	209,581	$	2,335	$	—	$	690	$	205,791

	Nine Months Ended September 30,
	2024								2023
(Dollars in millions)	Total Revenues(a)		Inter- segment Revenues		Net Income (Loss)		Total Average Assets		Total Revenues(a)		Inter- segment Revenues		Net Income (Loss)		Total Average Assets
Commercial Bank	$	2,139	$	4	$	645	$	80,903	$	2,308	$	4	$	819	$	80,169
Retail Bank	3,854		—		1,364		52,771		3,837		—		1,400		51,124
Institutional Services and Wealth    Management	1,167		10		409		3,735		1,344		9		515		3,680
All Other	(266)		(14)		(511)		73,599		(146)		(13)		(475)		69,293
Total	$	6,894	$	—	$	1,907	$	211,008	$	7,343	$	—	$	2,259	$	204,266

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(a)Total revenues are comprised of net interest income and other income. Net interest income is the difference between taxable-equivalent interest earned on assets and interest paid on liabilities owed by a segment and a funding charge (credit) based on the Company's internal funds transfer and allocation methodology. Segments are charged a cost to fund any assets (e.g. loans) and are paid a funding credit for any funds provided (e.g. deposits). The taxable-equivalent adjustment aggregated $13 million and $15 million for the three-month periods ended September 30, 2024 and 2023, respectively, and $38 million and $41 million for the nine-month periods ended September 30, 2024 and 2023, respectively, and is eliminated in "All Other" total revenues.