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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME:        
Loans $ 1,879,262,000 $ 2,035,148,000 $ 3,857,010,000 $ 4,034,486,000
Interest-earning deposits 8,272,000 47,899,000 40,421,000 91,917,000
Investment securities:        
AFS 51,631,000 71,137,000 121,654,000 145,567,000
HTM 23,130,000 15,789,000 46,775,000 33,111,000
Other investments 5,494,000 6,117,000 11,904,000 12,051,000
TOTAL INTEREST INCOME 1,967,789,000 2,176,090,000 4,077,764,000 4,317,132,000
INTEREST EXPENSE:        
Deposits and other customer accounts 69,122,000 145,145,000 197,735,000 275,433,000
Borrowings and other debt obligations 359,877,000 409,220,000 755,263,000 817,089,000
TOTAL INTEREST EXPENSE 428,999,000 554,365,000 952,998,000 1,092,522,000
NET INTEREST INCOME 1,538,790,000 1,621,725,000 3,124,766,000 3,224,610,000
Credit loss expense 977,373,000 480,632,000 2,162,983,000 1,080,843,000
NET INTEREST INCOME AFTER CREDIT LOSS EXPENSE 561,417,000 1,141,093,000 961,783,000 2,143,767,000
NON-INTEREST INCOME:        
Consumer and commercial fees 108,826,000 146,499,000 233,074,000 279,517,000
Lease income 755,006,000 705,835,000 1,526,666,000 1,380,720,000
Miscellaneous income, net [1],[2] (100,030,000) 108,271,000 21,943,000 197,815,000
TOTAL FEES AND OTHER INCOME 763,802,000 960,605,000 1,781,683,000 1,858,052,000
Net gain on sale of investment securities 22,516,000 2,379,000 31,795,000 379,000
TOTAL NON-INTEREST INCOME 786,318,000 962,984,000 1,813,478,000 1,858,431,000
GENERAL, ADMINISTRATIVE AND OTHER EXPENSES:        
Compensation and benefits 440,521,000 470,247,000 929,794,000 946,810,000
Occupancy and equipment expenses 164,875,000 142,646,000 311,786,000 285,040,000
Technology, outside service, and marketing expense 126,991,000 152,425,000 261,981,000 304,131,000
Loan expense 58,423,000 102,784,000 152,344,000 209,500,000
Lease expense 641,270,000 513,780,000 1,231,631,000 993,084,000
Impairment of goodwill 1,848,228,000 0 1,848,228,000 0
Other expenses 149,382,000 160,504,000 277,727,000 346,236,000
TOTAL GENERAL, ADMINISTRATIVE AND OTHER EXPENSES 3,429,690,000 1,542,386,000 5,013,491,000 3,084,801,000
(LOSS)/INCOME BEFORE INCOME TAX (BENEFIT)/PROVISION (2,081,955,000) 561,691,000 (2,238,230,000) 917,397,000
Income tax (benefit)/provision (186,151,000) 155,326,000 (219,512,000) 271,540,000
NET (LOSS)/INCOME INCLUDING NCI (1,895,804,000) 406,365,000 (2,018,718,000) 645,857,000
LESS: NET (LOSS)/INCOME ATTRIBUTABLE TO NCI (23,377,000) 110,743,000 (19,614,000) 183,255,000
NET (LOSS)/INCOME ATTRIBUTABLE TO SHUSA $ (1,872,427,000) $ 295,622,000 $ (1,999,104,000) $ 462,602,000
[1] Includes equity investment income/(expense), net.
[2] Netted down by impact of $268.4 million, and $331.3 million for the three-month and six-month periods ended June 30, 2020, respectively, compared to $104.4 million and $172.0 million for the corresponding periods in 2019 of lower of cost or market adjustments on a portion of the Company's LHFS portfolio.