Line of Business Information

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Line of Business Information

Line of Business Information

We have two lines of business: Investment Servicing and Investment Management. Given our services and management organization, the results of operations for these lines of business are not necessarily comparable with those of other companies, including companies in the financial services industry. Information about our two lines of business, as well as revenues, expenses and capital allocation methodologies associated with these lines of business, is provided in note 25 to the consolidated financial statements included in our 2013 Form 10-K.

The following table provides a summary of our line-of-business results for the periods indicated. The “Other” column for three months ended March 31, 2014 included $72 million of severance costs associated with staff reductions; $33 million of acquisition and restructuring costs; and $6 million of net provisions for litigation exposure and other costs. The “Other” column for three months ended March 31, 2013 included $14 million of net acquisition and restructuring costs. The amounts in the “Other” columns were not allocated to State Street's business lines. Results for the three months ended March 31, 2013 reflect reclassifications, for comparative purposes, related to management changes in methodologies associated with allocations of revenue and expenses reflected in line-of-business results for 2014.

	Three Months Ended March 31,
	Investment Servicing						Investment Management						Other						Total
	2014			2013			2014			2013			2014			2013			2014			2013
(Dollars in millions, except where otherwise noted)
Fee revenue:
Servicing fees	$	1,238		$	1,175		$	—		$	—		$	—		$	—		$	1,238		$	1,175
Management fees	—			—			292			263			—			—			292			263
Trading services	227			257			12			24			—			—			239			281
Securities finance	85			78			—			—			—			—			85			78
Processing fees and other	69			55			1			5			—			—			70			60
Total fee revenue	1,619			1,565			305			292			—			—			1,924			1,857
Net interest revenue	538			557			17			19			—			—			555			576
Gains (losses) related to investment securities, net	6			2			—			—			—			—			6			2
Total revenue	2,163			2,124			322			311			—			—			2,485			2,435
Provision for loan losses	2			—			—			—			—			—			2			—
Total expenses	1,673			1,590			244			222			111			14			2,028			1,826
Income before income tax expense	$	488		$	534		$	78		$	89		$	(111	)	$	(14	)	$	455		$	609
Pre-tax margin	23		%	25		%	24		%	29		%							18		%	25		%
Average assets (in billions)	$	212.2		$	204.4		$	3.4		$	3.9								$	215.6		$	208.3