Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

For additional information on our revenue from contracts with customers, including revenues associated with both our Investment Servicing and Investment Management lines of business, refer to pages 177 to 178 in Note 25 to the consolidated financial statements included under Item 8, Financial Statements and Supplementary Data, in our 2018 Form 10-K.

Revenue by category

In the following table, revenue is disaggregated by our two lines of business and by revenue stream for which the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.



	Three Months Ended March 31, 2019
	Investment Servicing								Investment Management								Total
(Dollars in millions)	Topic 606 revenue		All other revenue			Total			Topic 606 revenue		All other revenue			Total			2019
Servicing fees	$	1,251	$	—		$	1,251		$	—	$	—		$	—		$	1,251
Management fees	—		—			—			420		—			420			420
Foreign exchange trading services	86		160			246			34		—			34			280
Securities finance	70		47			117			—		1			1			118
Processing fees and other	116		64			180			—		11			11			191
Total fee revenue	1,523		271			1,794			454		12			466			2,260
Net interest income	—		679			679			—		(6		)	(6		)	673
Gains (losses) related to investment securities, net	—		(1		)	(1		)	—		—			—			(1		)
Total revenue	$	1,523	$	949		$	2,472		$	454	$	6		$	460		$	2,932

	Three Months Ended March 31, 2018
	Investment Servicing								Investment Management								Total
(Dollars in millions)	Topic 606 revenue		All other revenue			Total			Topic 606 revenue		All other revenue			Total			2018
Servicing fees	$	1,421	$	—		$	1,421		$	—	$	—		$	—		$	1,421
Management fees	—		—			—			472		—			472			472
Foreign exchange trading services	95		179			274			30		—			30			304
Securities finance	77		64			141			—		—			—			141
Processing fees and other⁽¹⁾	19		58			77			—		—			—			77
Total fee revenue	1,612		301			1,913			502		—			502			2,415
Net interest income⁽¹⁾	—		648			648			—		(5		)	(5		)	643
Gains (losses) related to investment securities, net	—		(2		)	(2		)	—		—			—			(2		)
Total revenue	$	1,612	$	947		$	2,559		$	502	$	(5	)	$	497		$	3,056

¹⁾In the first quarter of 2018, approximately $15 million of swap costs were reclassified from processing fees and other revenue within fee revenue to net interest income to conform to current presentation.

Contract balances and contract costs

As of March 31, 2019 and December 31, 2018, net receivables of $2.80 billion and $2.75 billion, respectively, are included in accrued interest and fees receivable, representing amounts billed or currently billable to or due from our customers related to revenue from contracts with customers. As performance obligations are satisfied, we have an unconditional right to payment and billing is generally performed monthly; therefore, we do not have significant contract assets or liabilities.

No adjustments are made to the promised amount of consideration for the effects of a significant financing component as the period between when we transfer a promised service to a customer and when the customer pays for that service is expected to be one year or less.