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Revenue from Contracts with Customers (Tables)
12 Months Ended
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]  
Revenue by Operating Segment Table 20.1 presents our revenue by operating segment. For additional description of our
operating segments, including additional financial information and the underlying management accounting process, see
Note 26 (Operating Segments).
Table 20.1: Revenue by Operating Segment
Year ended December 31, 2020
(in millions)Consumer Banking and LendingCommercial BankingCorporate and Investment BankingWealth and Investment ManagementCorporateReconciling
Items (1)
Consolidated
Company
Net interest income (2)$23,378 6,191 7,501 2,993 247 (475)39,835 
Noninterest income
Deposit-related fees2,904 1,219 1,062 27 9  5,221 
Lending-related fees (2)158 531 684 9 (1) 1,381 
Brokerage fees:
Asset-based revenue (3)   6,992 (1) 6,991 
Transactional revenue  17 1,504 (8) 1,513 
Other revenue  298 574 (1) 871 
Total brokerage fees  315 9,070 (10) 9,375 
Trust and investment management fees:
Investment management fees   1,970   1,970 
Trust fees 314  416   730 
Other revenue 82 95 (3)(2) 172 
Total trust and investment management fees 396 95 2,383 (2) 2,872 
Investment banking fees(8)76 1,952 14 (169) 1,865 
Card fees:
Card interchange and network revenues (4)2,805 170 51 3 1  3,030 
Other card fees (2)513    1  514 
Total card fees3,318 170 51 3 2  3,544 
Mortgage banking (2)3,224  282 (13)  3,493 
Net gains (losses) from trading activities (2)1 (4)1,190 5 (20) 1,172 
Net gains on debt securities (2)6    867  873 
Net gains (losses) from equity securities (2)10 (147)212 (94)684  665 
Lease income (2) 646 20  579  1,245 
Other (2)1,025 660 456 115 1,277 (2,734)799 
Total noninterest income10,638 3,547 6,319 11,519 3,216 (2,734)32,505 
Total revenue$34,016 9,738 13,820 14,512 3,463 (3,209)72,340 
Year ended December 31, 2019
Net interest income (2)$25,786 8,184 8,005 3,917 1,950 (611)47,231 
Noninterest income
Deposit-related fees3,582 1,175 1,029 24 — 5,819 
Lending-related fees (2)230 524 710 — 1,474 
Brokerage fees:
Asset-based revenue (3)— — — 6,777 (2)— 6,775 
Transactional revenue— — 26 1,534 — — 1,560 
Other revenue— — 266 636 — — 902 
Total brokerage fees— — 292 8,947 (2)— 9,237 
Trust and investment management fees:
Investment management fees (5)— — — 1,988 — — 1,988 
Trust fees (5)— 313 — 423 179 — 915 
Other revenue (5)— 75 62 (4)— 135 
Total trust and investment management fees— 388 62 2,407 181 — 3,038 
Investment banking fees(5)85 1,804 (93)— 1,797 
Card fees:
Card interchange and network revenues (4)2,973 254 79 — 3,318 
Other card fees (2)699 — — — (1)— 698 
Total card fees3,672 254 79 — 4,016 
Mortgage banking (2)2,314 — 413 (12)— — 2,715 
Net gains (losses) from trading activities (2)(10)1,022 53 (74)— 993 
Net gains (losses) on debt securities (2)— (5)— 141 — 140 
Net gains from equity securities (2)115 297 272 2,155 — 2,843 
Lease income (2)— 931 22 — 661 — 1,614 
Other (2)2,306 688 498 104 2,874 (2,324)4,146 
Total noninterest income12,105 4,154 6,223 11,815 5,859 (2,324)37,832 
Total revenue$37,891 12,338 14,228 15,732 7,809 (2,935)85,063 
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Year ended December 31, 2018
Consumer Banking and LendingCommercial BankingCorporate and Investment BankingWealth and Investment ManagementCorporateReconciling
Items (1)
Consolidated
Company
Net interest income (2)$26,985 8,748 8,345 4,317 2,259 (659)49,995 
Noninterest income
Deposit-related fees3,431 1,219 1,057 24 10 — 5,741 
Lending-related fees (2)258 604 742 16 — 1,628 
Brokerage fees:
Asset-based revenue (3)— — 6,899 (2)— 6,898 
Transactional revenue— — 70 1,618 (40)— 1,648 
Other revenue— — 246 646 (2)— 890 
Total brokerage fees— — 317 9,163 (44)— 9,436 
Trust and investment management fees:
Investment management fees (5)— — — 2,079 — — 2,079 
Trust fees (5)— 301 — 442 386 — 1,129 
Other revenue (5)— 58 54 (12)— 108 
Total trust and investment management fees— 359 54 2,509 394 — 3,316 
Investment banking fees(1)53 1,730 (34)— 1,757 
Card fees:
Card interchange and network revenues (4)2,854 264 79 — 3,208 
Other card fees (2)697 — — — — 699 
Total card fees3,551 264 79 — 3,907 
Mortgage banking (2)2,666 — 362 (11)— — 3,017 
Net gains (losses) from trading activities (2)(8)561 57 (14)— 602 
Net gains (losses) on debt securities (2)— — (3)102 — 108 
Net gains (losses) from equity securities (2)37 277 (283)1,479 — 1,515 
Lease income (2)— 1,025 — 729 — 1,757 
Other (2)3,014 779 547 61 1,368 (2,140)3,629 
Total noninterest income12,930 4,332 5,726 11,552 4,013 (2,140)36,413 
Total revenue$39,915 13,080 14,071 15,869 6,272 (2,799)86,408 
(1)Taxable-equivalent adjustments related to tax-exempt income on certain loans and debt securities are included in net interest income, while taxable-equivalent adjustments related to income tax credits for low-income housing and renewable energy investments are included in noninterest income, in each case with corresponding impacts to income tax expense (benefit). Adjustments are included in Corporate, Commercial Banking, and Corporate and Investment Banking and are eliminated to reconcile to the Company’s consolidated financial results.
(2)These revenues are related to financial assets and liabilities, including loans, leases, securities and derivatives, with additional details included in other footnotes to our financial statements.
(3)We earned trailing commissions of $1.1 billion, $1.2 billion, and $1.3 billion for the years ended December 31, 2020, 2019 and 2018, respectively.
(4)The cost of credit card rewards and rebates of $1.3 billion, $1.5 billion and $1.4 billion for the years ended December 31, 2020, 2019 and 2018, respectively, are presented net against the related revenues.
(5) In 2020, we changed the classification of certain fees within trust and investment management fees. Prior periods have been revised to conform with the current period presentation.