Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Revenue from Contracts with Customers

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 September 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	$	1,272	$	—		$	1,272		$	—	$	—		$	—		$	1,272
Management fees	—		—			—			445		—			445			445
Foreign exchange trading services	90		159			249			35		—			35			284
Securities finance	64		50			114			—		2			2			116
Processing fees and other	97		43			140			—		2			2			142
Total fee revenue	1,523		252			1,775			480		4			484			2,259
Net interest income	—		649			649			—		(5		)	(5		)	644
Gains (losses) related to investment securities, net	—		—			—			—		—			—			—
Total revenue	$	1,523	$	901		$	2,424		$	480	$	(1	)	$	479		$	2,903
	Three Months Ended September 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	$	1,333	$	—		$	1,333		$	—	$	—		$	—		$	1,333
Management fees	—		—			—			474		—			474			474
Foreign exchange trading services	89		166			255			33		—			33			288
Securities finance	73		55			128			—		—			—			128
Processing fees and other	27		60			87			—		8			8			95
Total fee revenue	1,522		281			1,803			507		8			515			2,318
Net interest income	—		680			680			—		(8		)	(8		)	672
Gains (losses) related to investment securities, net	—		(1		)	(1		)	—		—			—			(1		)
Total revenue	$	1,522	$	960		$	2,482		$	507	$	—		$	507		$	2,989

	Nine Months Ended September 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	$	3,775	$	—		$	3,775		$	—	$	—		$	—		$	3,775
Management fees	—		—			—			1,306		—			1,306			1,306
Foreign exchange trading services	258		477			735			102		—			102			837
Securities finance	209		144			353			—		7			7			360
Processing fees and other	317		166			483			—		18			18			501
Total fee revenue	4,559		787			5,346			1,408		25			1,433			6,779
Net interest income	—		1,951			1,951			—		(21		)	(21		)	1,930
Gains (losses) related to investment securities, net	—		(1		)	(1		)	—		—			—			(1		)
Total revenue	$	4,559	$	2,737		$	7,296		$	1,408	$	4		$	1,412		$	8,708
	Nine Months Ended September 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	$	4,135	$	—		$	4,135		$	—	$	—		$	—		$	4,135
Management fees	—		—			—			1,411		—			1,411			1,411
Foreign exchange trading services	275		535			810			97		—			97			907
Securities finance	240		183			423			—		—			—			423
Processing fees and other	69		174			243			—		9			9			252
Total fee revenue	4,719		892			5,611			1,508		9			1,517			7,128
Net interest income	—		1,991			1,991			—		(17		)	(17		)	1,974
Gains (losses) related to investment securities, net	—		6			6			—		—			—			6
Total revenue	$	4,719	$	2,889		$	7,608		$	1,508	$	(8	)	$	1,500		$	9,108

Contract balances and contract costs

As of both September 30, 2019 and December 31, 2018, net receivables of $2.75 billion are included in accrued interest and fees receivable, representing amounts billed or currently billable 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.