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Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Fee revenue:        
Servicing fees $ 1,339 $ 1,239 $ 2,635 $ 2,481
Management fees 397 293 779 563
Trading services 289 267 564 539
Securities finance 179 156 312 290
Processing fees and other 31 98 143 150
Total fee revenue 2,235 2,053 4,433 4,023
Net interest income:        
Interest income 700 620 1,350 1,249
Interest expense 125 99 265 216
Net interest income 575 521 1,085 1,033
Gains (losses) related to investment securities, net:        
Gains (losses) from sales of available-for-sale securities, net 0 (1) (40) 1
Gains (losses) related to investment securities, net 0 (1) (40) 1
Total revenue 2,810 2,573 5,478 5,057
Provision for loan losses 3 4 1 8
Expenses:        
Compensation and employee benefits 1,071 989 2,237 2,096
Information systems and communications 283 270 570 542
Transaction processing services 207 201 404 401
Occupancy 116 111 226 224
Acquisition and restructuring costs 71 20 100 124
Professional services 97 82 191 175
Amortization of other intangible assets 54 49 106 98
Other 132 138 283 250
Total expenses 2,031 1,860 4,117 3,910
Income before income tax expense 776 709 1,360 1,139
Income tax expense (benefit) 156 92 238 154
Net income from non-controlling interest 0 2 0 2
Net income 620 619 1,122 987
Net income available to common shareholders $ 584 $ 585 $ 1,030 $ 904
Earnings per common share:        
Basic (in USD per share) $ 1.56 $ 1.48 $ 2.72 $ 2.28
Diluted (in USD per share) $ 1.53 $ 1.47 $ 2.69 $ 2.25
Average common shares outstanding (in thousands):        
Basic (in shares) 375,395 394,160 378,293 396,790
Diluted (in shares) 380,915 398,847 383,489 401,113
Cash dividends declared (in USD per share) $ 0.38 $ 0.34 $ 0.76 $ 0.68