Operating Segments

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Operating Segments

Operating SegmentsTruist operates and measures business activity across three segments: CB&W, C&CB, and IH, with functional activities included in OT&C. The Company’s business segment structure is based on the manner in which financial information is evaluated by management as well as the products and services provided or the type of client served. For additional information, see “Note 21. Operating Segments” of the Annual Report on Form 10-K for the year ended December 31, 2021.

The following table presents results by segment:

Three Months Ended June 30, (Dollars in millions)	CB&W				C&CB				IH				OT&C (1)				Total
	2022		2021		2022		2021		2022		2021		2022		2021		2022		2021
Net interest income (expense)	$	1,567	$	1,687	$	1,277	$	1,182	$	30	$	25	$	533	$	351	$	3,407	$	3,245
Net intersegment interest income (expense)	707		385		57		114		(2)		—		(762)		(499)		—		—
Segment net interest income	2,274		2,072		1,334		1,296		28		25		(229)		(148)		3,407		3,245
Allocated provision for credit losses	199		(4)		(28)		(399)		1		(1)		(1)		(30)		171		(434)
Segment net interest income after provision	2,075		2,076		1,362		1,695		27		26		(228)		(118)		3,236		3,679
Noninterest income	892		925		636		808		833		698		(113)		(26)		2,248		2,405
Amortization of intangibles	79		78		32		38		32		24		—		2		143		142
Other noninterest expense	1,875		1,867		749		790		592		491		221		721		3,437		3,869
Income (loss) before income taxes	1,013		1,056		1,217		1,675		236		209		(562)		(867)		1,904		2,073
Provision (benefit) for income taxes	240		257		263		369		58		50		(189)		(261)		372		415
Segment net income (loss)	$	773	$	799	$	954	$	1,306	$	178	$	159	$	(373)	$	(606)	$	1,532	$	1,658
Identifiable assets (period end)	$	166,378	$	156,520	$	193,406	$	178,746	$	11,126	$	8,649	$	174,213	$	178,049	$	545,123	$	521,964
Six Months Ended June 30, (Dollars in millions)	CB&W				C&CB				IH				OT&C (1)				Total
	2022		2021		2022		2021		2022		2021		2022		2021		2022		2021
Net interest income (expense)	$	3,095	$	3,440	$	2,371	$	2,391	$	54	$	49	$	1,070	$	650	$	6,590	$	6,530
Net intersegment interest income (expense)	1,361		616		233		187		(2)		—		(1,592)		(803)		—		—
Segment net interest income	4,456		4,056		2,604		2,578		52		49		(522)		(153)		6,590		6,530
Allocated provision for credit losses	272		96		(178)		(434)		1		—		(19)		(48)		76		(386)
Segment net interest income after provision	4,184		3,960		2,782		3,012		51		49		(503)		(105)		6,514		6,916
Noninterest income	1,842		1,845		1,255		1,500		1,571		1,332		(278)		(75)		4,390		4,602
Amortization of intangibles	152		157		65		75		63		51		—		3		280		286
Other noninterest expense	3,710		3,721		1,472		1,513		1,121		944		671		1,157		6,974		7,335
Income (loss) before income taxes	2,164		1,927		2,500		2,924		438		386		(1,452)		(1,340)		3,650		3,897
Provision (benefit) for income taxes	518		471		543		639		108		94		(467)		(438)		702		766
Segment net income (loss)	$	1,646	$	1,456	$	1,957	$	2,285	$	330	$	292	$	(985)	$	(902)	$	2,948	$	3,131
Identifiable assets (period end)	$	166,378	$	156,520	$	193,406	$	178,746	$	11,126	$	8,649	$	174,213	$	178,049	$	545,123	$	521,964

(1)Includes financial data from business units below the quantitative and qualitative thresholds requiring disclosure.