Non-U.S. Activities

9 Months Ended

Sep. 30, 2013

Segments, Geographical Areas [Abstract]

Non-U.S. Activities

Non-U.S. Activities

We generally 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 September 30,						Nine Months Ended September 30,
(In millions)	2013			2012			2013			2012
Total fee revenue	$	771		$	700		$	2,347		$	2,169
Net interest revenue	306			240			874			709
Gains (losses) related to investment securities, net	(2		)	(4		)	(12		)	(36		)
Total revenue	1,075			936			3,209			2,842
Expenses	786			708			2,279			2,226
Income before income taxes	289			228			930			616
Income tax expense	74			57			228			153
Net income	$	215		$	171		$	702		$	463

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)	September 30, 2013		December 31, 2012
Interest-bearing deposits with banks	$	5,221	$	20,665
Investment securities	30,586		28,976
Other assets	16,982		13,441
Total non-U.S. assets	$	52,789	$	63,082