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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Loans, including loans held for sale $ 6,429 $ 6,247 $ 19,180 $ 18,370
Investment securities 583 593 1,867 1,584
Other 63 55 196 174
Total interest income 7,075 6,895 21,243 20,128
Interest expense:        
Deposits 901 681 2,588 1,842
Securitized debt obligations 123 127 405 358
Senior and subordinated notes 299 288 923 828
Other borrowings 15 13 53 45
Total interest expense 1,338 1,109 3,969 3,073
Net interest income 5,737 5,786 17,274 17,055
Provision for credit losses 1,383 1,268 4,418 4,218
Net interest income after provision for credit losses 4,354 4,518 12,856 12,837
Non-interest income:        
Interchange fees, net 790 714 2,368 2,080
Service charges and other customer-related fees 283 410 988 1,233
Net securities gains (losses) 5 (196) 44 (189)
Other 144 248 492 884
Total non-interest income 1,222 1,176 3,892 4,008
Non-interest expense:        
Salaries and associate benefits 1,605 1,432 4,736 4,382
Occupancy and equipment 519 515 1,533 1,508
Marketing 501 504 1,564 1,343
Professional services 314 275 919 719
Communications and data processing 312 311 944 934
Amortization of intangibles 25 44 84 131
Other 596 692 1,542 1,753
Total non-interest expense 3,872 3,773 11,322 10,770
Income from continuing operations before income taxes 1,704 1,921 5,426 6,075
Income tax provision 375 420 1,071 1,314
Income from continuing operations, net of tax 1,329 1,501 4,355 4,761
Income (loss) from discontinued operations, net of tax 4 1 15 (7)
Net income 1,333 1,502 4,370 4,754
Dividends and undistributed earnings allocated to participating securities (10) (9) (34) (32)
Preferred stock dividends (53) (53) (185) (185)
Net income available to common stockholders $ 1,270 $ 1,440 $ 4,151 $ 4,537
Basic earnings per common share:        
Net income from continuing operations $ 2.70 $ 3.01 $ 8.80 $ 9.40
Income (loss) from discontinued operations 0.01 0.00 0.03 (0.01)
Net income per basic common share 2.71 3.01 8.83 9.39
Diluted earnings per common share:        
Net income from continuing operations 2.68 2.99 8.76 9.33
Income (loss) from discontinued operations 0.01 0.00 0.03 (0.01)
Net income per diluted common share $ 2.69 $ 2.99 $ 8.79 $ 9.32