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Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Fee revenue:        
Servicing fees $ 1,272 $ 1,333 $ 3,775 $ 4,135
Management fees 445 474 1,306 1,411
Foreign exchange trading services 284 288 837 907
Securities finance 116 128 360 423
Processing fees and other 142 95 501 252
Total fee revenue 2,259 2,318 6,779 7,128
Net interest income:        
Interest income 1,001 916 3,035 2,680
Interest expense 357 244 1,105 706
Net interest income 644 672 1,930 1,974
Gains (losses) related to investment securities, net:        
Gains (losses) from sales of available-for-sale securities, net 0 0 0 8
Losses from other-than-temporary impairment 0 (1) (1) (2)
Gains (losses) related to investment securities, net 0 (1) (1) 6
Total revenue 2,903 2,989 8,708 9,108
Provision for loan losses 2 5 7 7
Expenses:        
Compensation and employee benefits 1,083 1,103 3,396 3,477
Information systems and communications 376 332 1,103 968
Transaction processing services 254 248 741 759
Occupancy 113 110 344 354
Acquisition and restructuring costs 27 0 48 0
Amortization of other intangible assets 59 47 178 145
Other 268 251 817 826
Total expenses 2,180 2,091 6,627 6,529
Income before income tax expense 721 893 2,074 2,572
Income tax expense 138 129 396 416
Net income 583 764 1,678 2,156
Net income available to common shareholders $ 528 $ 708 $ 1,517 $ 2,008
Earnings per common share:        
Basic (in USD per share) $ 1.44 $ 1.89 $ 4.07 $ 5.44
Diluted (in USD per share) $ 1.42 $ 1.87 $ 4.03 $ 5.37
Average common shares outstanding (in thousands):        
Basic (in shares) 366,732 374,963 372,766 369,368
Diluted (in shares) 370,595 379,383 376,361 374,064
Cash dividends declared (in USD per share) $ 0.52 $ 0.47 $ 1.46 $ 1.31