Revenue from Contracts with Customers

6 Months Ended

Jun. 30, 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 80 to 81 in Note 25 to the consolidated financial statements included under Item 8, Financial Statements and Supplementary Data, in the 2018 Annual Financial Statements.

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 June 30, 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	$	1,252	$	—	$	1,252	$	—	$	—		$	—		$	1,252
Management fees	—		—		—		441		—			441			441
Foreign exchange trading services	82		158		240		33		—			33			273
Securities finance	75		47		122		—		4			4			126
Processing fees and other	104		59		163		—		5			5			168
Total fee revenue	1,513		264		1,777		474		9			483			2,260
Net interest income	—		623		623		—		(10		)	(10		)	613
Gains (losses) related to investment securities, net	—		—		—		—		—			—			—
Total revenue	$	1,513	$	887	$	2,400	$	474	$	(1	)	$	473		$	2,873

	Three Months Ended June 30, 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	$	1,381	$	—	$	1,381	$	—	$	—		$	—		$	1,381
Management fees	—		—		—		465		—			465			465
Foreign exchange trading services	91		191		282		33		—			33			315
Securities finance	90		64		154		—		—			—			154
Processing fees and other	23		55		78		—		2			2			80
Total fee revenue	1,585		310		1,895		498		2			500			2,395
Net interest income	—		663		663		—		(4		)	(4		)	659
Gains (losses) related to investment securities, net	—		9		9		—		—			—			9
Total revenue	$	1,585	$	982	$	2,567	$	498	$	(2	)	$	496		$	3,063



	Six Months Ended June 30, 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	$	2,503	$	—		$	2,503		$	—	$	—		$	—		$	2,503
Management fees	—		—			—			861		—			861			861
Foreign exchange trading services	168		318			486			67		—			67			553
Securities finance	145		94			239			—		5			5			244
Processing fees and other	220		123			343			—		16			16			359
Total fee revenue	3,036		535			3,571			928		21			949			4,520
Net interest income	—		1,302			1,302			—		(16		)	(16		)	1,286
Gains (losses) related to investment securities, net	—		(1		)	(1		)	—		—			—			(1		)
Total revenue	$	3,036	$	1,836		$	4,872		$	928	$	5		$	933		$	5,805

	Six Months Ended June 30, 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	$	2,802	$	—		$	2,802		$	—	$	—		$	—		$	2,802
Management fees	—		—			—			937		—			937			937
Foreign exchange trading services	186		369			555			64		—			64			619
Securities finance	167		128			295			—		—			—			295
Processing fees and other	43		113			156			—		1			1			157
Total fee revenue	3,198		610			3,808			1,001		1			1,002			4,810
Net interest income	—		1,311			1,311			—		(9		)	(9		)	1,302
Gains (losses) related to investment securities, net	—		7			7			—		—			—			7
Total revenue	$	3,198	$	1,928		$	5,126		$	1,001	$	(8	)	$	993		$	6,119

Contract balances and contract costs

As of June 30, 2019 and December 31, 2018, net receivables of $2.71 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.