Non-U.S. Activities

6 Months Ended

Jun. 30, 2013

Segments, Geographical Areas [Abstract]

Non-U.S. Activities

Non-U.S. Activities

We define our non-U.S. activities as those revenue-producing business activities that arise from clients domiciled outside the U.S. Due to the integrated nature of our business, precise segregation of our U.S. and non-U.S. activities is not possible. Subjective estimates and other judgments have been applied to determine the financial results and assets related to our non-U.S. activities, including our application of funds transfer pricing, our asset-and-liability management policies and our allocation of certain indirect corporate expenses. Interest expense allocations are based on our internal funds transfer pricing methodology.

The following table presents our non-U.S. financial results for the periods indicated. Results for 2012 reflect changes in methodology associated with funds transfer pricing and expense allocation reflected in results for 2013.

	Three Months Ended June 30,						Six Months Ended June 30,
(In millions)	2013			2012			2013			2012
Total fee revenue	$	811		$	731		$	1,576		$	1,469
Net interest revenue	295			241			568			469
Gains (Losses) related to investment securities, net	(7		)	(35		)	(10		)	(32		)
Total revenue	1,099			937			2,134			1,906
Expenses	740			752			1,493			1,518
Income before income taxes	359			185			641			388
Income tax expense	85			49			154			96
Net income	$	274		$	136		$	487		$	292

The following table presents the significant components of our non-U.S. assets as of the dates indicated, based on the domicile of the underlying counterparties:

(In millions)	June 30, 2013		December 31, 2012
Interest-bearing deposits with banks	$	7,808	$	20,665
Investment securities	28,875		28,976
Other assets	18,509		13,441
Total non-U.S. assets	$	55,192	$	63,082