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Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Fee revenue:        
Servicing fees $ 1,252 $ 1,381 $ 2,503 $ 2,802
Management fees 441 465 861 937
Foreign exchange trading services 273 315 553 619
Securities finance 126 154 244 295
Processing fees and other 168 80 359 157
Total fee revenue 2,260 2,395 4,520 4,810
Net interest income:        
Interest income 1,007 907 2,034 1,764
Interest expense 394 248 748 462
Net interest income 613 659 1,286 1,302
Gains (losses) related to investment securities, net:        
Gains (losses) from sales of available-for-sale securities, net 0 9 0 8
Losses from other-than-temporary impairment 0 0 (1) (1)
Gains (losses) related to investment securities, net 0 9 (1) 7
Total revenue 2,873 3,063 5,805 6,119
Provision for loan losses 1 2 5 2
Expenses:        
Compensation and employee benefits 1,084 1,125 2,313 2,374
Information systems and communications 365 321 727 636
Transaction processing services 245 257 487 511
Occupancy 115 124 231 244
Acquisition and restructuring costs 12 0 21 0
Amortization of other intangible assets 59 48 119 98
Other 274 295 549 575
Total expenses 2,154 2,170 4,447 4,438
Income before income tax expense 718 891 1,353 1,679
Income tax expense 131 158 258 287
Net income 587 733 1,095 1,392
Net income available to common shareholders $ 537 $ 697 $ 989 $ 1,300
Earnings per common share:        
Basic (in USD per share) $ 1.44 $ 1.91 $ 2.63 $ 3.55
Diluted (in USD per share) $ 1.42 $ 1.88 $ 2.61 $ 3.50
Average common shares outstanding (in thousands):        
Basic (in shares) 373,773 365,619 375,832 366,524
Diluted (in shares) 377,577 370,410 379,465 371,415
Cash dividends declared (in USD per share) $ 0.47 $ 0.42 $ 0.94 $ 0.84