Non-U.S. Activities

We define our non-U.S. activities as those revenue-producing business activities that arise from clients which are generally serviced or managed 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, assumptions and other judgments are applied to quantify 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. Management periodically reviews and updates its processes for quantifying the financial results and assets related to our non-U.S. activities.

The following table presents our U.S. and non-U.S. financial results for the periods indicated:



	Three Months Ended June 30, 2017						Three Months Ended June 30, 2016
(In millions)	Non-U.S.		U.S.		Total		Non-U.S.		U.S.		Total
Total revenue	$	1,172	$	1,638	$	2,810	$	1,136	$	1,437	$	2,573
Income before income taxes	324		452		776		344		365		709

	Six Months Ended June 30, 2017						Six Months Ended June 30, 2016
(In millions)	Non-U.S.		U.S.		Total		Non-U.S.		U.S.		Total
Total revenue	$	2,268	$	3,210	$	5,478	$	2,161	$	2,896	$	5,057
Income before income taxes	583		777		1,360		521		618		1,139

Non-U.S. assets were $73.2 billion and $84.6 billion as of June 30, 2017 and 2016, respectively.