Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2020

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 172 to 173 in Note 25 to the consolidated financial statements included under Item 8, Financial Statements and Supplementary Data, in our 2019 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, 2020
	Investment Servicing						Investment Management								Total
(Dollars in millions)	Topic 606 revenue		All other revenue		Total		Topic 606 revenue		All other revenue			Total			2020
Servicing fees	$	1,287	$	—	$	1,287	$	—	$	—		$	—		$	1,287
Management fees	—		—		—		449		—			449			449
Foreign exchange trading services	100		334		434		25		—			25			459
Securities finance	57		32		89		—		3			3			92
Software and processing fees	107		30		137		—		(25		)	(25		)	112
Total fee revenue	1,551		396		1,947		474		(22		)	452			2,399
Net interest income	—		663		663		—		1			1			664
Total other income	—		2		2		—		—			—			2
Total revenue	$	1,551	$	1,061	$	2,612	$	474	$	(21	)	$	453		$	3,065



	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
Software and processing fees	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
Total other income	—		(1		)	(1		)	—		—			—			(1		)
Total revenue	$	1,523	$	949		$	2,472		$	454	$	6		$	460		$	2,932

Contract balances and contract costs

As of March 31, 2020 and December 31, 2019, net receivables of $2.79 billion and $2.77 billion, respectively, 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.