XML 51 R28.htm IDEA: XBRL DOCUMENT

Non-U.S. Activities

6 Months Ended

Jun. 30, 2020

Segments, Geographical Areas [Abstract]

We define our non-U.S. activities as those revenue-producing business activities that arise from clients which are generally serviced or managed outside the U.S. Due to the integrated nature of our business, precise segregation of our U.S. and non-U.S. activities is not possible.

Subjective estimates, assumptions and other judgments are applied to quantify the financial results and assets related to our non-U.S. activities, including our application of funds transfer pricing, our asset and liability management policies and our allocation of certain indirect corporate expenses. Management periodically reviews and updates its processes for quantifying the financial results and assets related to our non-U.S. activities.

The following table presents our U.S. and non-U.S. financial results for the periods indicated:



	Three Months Ended June 30,
	2020						2019
(In millions)	Non-U.S.⁽¹⁾		U.S.		Total		Non-U.S.⁽¹⁾		U.S.		Total
Total revenue	$	1,269	$	1,668	$	2,937	$	1,290	$	1,583	$	2,873
Income before income tax expense	244		559		803		314		404		718

	Six Months Ended June 30,
	2020						2019
(In millions)	Non-U.S.⁽¹⁾		U.S.		Total		Non-U.S.⁽¹⁾		U.S.		Total
Total revenue	$	2,629	$	3,373	$	6,002	$	2,623	$	3,182	$	5,805
Income before income tax expense	514		1,063		1,577		616		737		1,353

⁽¹⁾Geographic mix is generally based on the domicile of the entity servicing the funds and is not necessarily representative of the underlying asset mix.

Non-U.S. assets were $94.29 billion and $85.94 billion as of June 30, 2020 and 2019, respectively.