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Revenue from Contracts with Customers
 9 Months Ended
Sep. 30, 2020
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 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 September 30, 2020
Investment ServicingInvestment ManagementTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2020
Servicing fees$1,301 $— $1,301 $— $— $— $1,301 
Management fees— — — 455 — 455 455 
Foreign exchange trading services 90 162 252 42 — 42 294 
Securities finance42 39 81 — 3 3 84 
Software and processing fees 108 54 162 — 10 10 172 
Total fee revenue1,541 255 1,796 497 13 510 2,306 
Net interest income— 482 482 — (4)(4)478 
Total revenue$1,541 $737 $2,278 $497 $9 $506 $2,784 
Nine Months Ended September 30, 2020
Investment ServicingInvestment ManagementTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2020
Servicing fees$3,860 $— $3,860 $— $— $— $3,860 
Management fees— — — 1,329 — 1,329 1,329 
Foreign exchange trading services285 713 998 99 — 99 1,097 
Securities finance162 96 258 — 10 10 268 
Software and processing fees366 162 528 — 1 1 529 
Total fee revenue4,673 971 5,644 1,428 11 1,439 7,083 
Net interest income— 1,716 1,716 — (15)(15)1,701 
Total other income— 2 2 — — — 2 
Total revenue$4,673 $2,689 $7,362 $1,428 $(4)$1,424 $8,786 
Three Months Ended September 30, 2019
Investment ServicingInvestment ManagementTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2020
Servicing fees$1,272 $— $1,272 $— $— $— $1,272 
Management fees— — — 445 — 445 445 
Foreign exchange trading services90 159 249 35 — 35 284 
Securities finance64 50 114 — 2 2 116 
Software and processing fees97 43 140 — 2 2 142 
Total fee revenue1,523 252 1,775 480 4 484 2,259 
Net interest income— 649 649 — (5)(5)644 
Total revenue$1,523 $901 $2,424 $480 $(1)$479 $2,903 
Nine Months Ended September 30, 2019
Investment ServicingInvestment ManagementTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2019
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 finance209 144 353 — 7 7 360 
Software and processing fees 317 166 483 — 18 18 501 
Total fee revenue4,559 787 5,346 1,408 25 1,433 6,779 
Net interest income— 1,951 1,951 — (21)(21)1,930 
Total other income— (1)(1)— — — (1)
Total revenue$4,559 $2,737 $7,296 $1,408 $4 $1,412 $8,708 
Contract balances and contract costs
As of September 30, 2020 and December 31, 2019, net receivables of $2.83 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.