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Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Fee revenue:      
Servicing fees $ 5,167 $ 5,074 $ 5,421
Management fees 1,880 1,824 1,899
Foreign exchange trading services 1,363 1,058 1,153
Securities finance 356 471 543
Software and processing fees 733 720 438
Total fee revenue 9,499 9,147 9,454
Net interest income:      
Interest income 2,575 3,941 3,662
Interest expense 375 1,375 991
Net interest income 2,200 2,566 2,671
Other income:      
Gains (losses) from sales of available-for-sale securities, net 4 (1) 9
Other income 0 44 (3)
Total other income 4 43 6
Total revenue 11,703 11,756 12,131
Provision for credit losses 88 10 15
Expenses:      
Compensation and employee benefits 4,450 4,541 4,780
Information systems and communications 1,550 1,465 1,324
Transaction processing services 978 983 985
Occupancy 489 470 500
Acquisition and restructuring costs 50 77 24
Amortization of other intangible assets 234 236 226
Other 965 1,262 1,176
Total expenses 8,716 9,034 9,015
Income before income tax expense 2,899 2,712 3,101
Income tax expense 479 470 508
Net income 2,420 2,242 2,593
Net income available to common shareholders $ 2,257 $ 2,009 $ 2,404
Earnings per common share:      
Basic (in USD per share) $ 6.40 $ 5.43 $ 6.46
Diluted (in USD per share) $ 6.32 $ 5.38 $ 6.39
Average common shares outstanding (in thousands):      
Basic (in shares) 352,865 369,911 371,983
Diluted (in shares) 357,106 373,666 376,476
Cash dividends declared (in USD per share) $ 2.08 $ 1.98 $ 1.78