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Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2021
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
For additional information on the nature of services and our revenue from contracts with customers, including revenues associated with both our Investment Servicing and Investment Management lines of business, refer to pages 184 to 186 in Note 25 to the consolidated financial statements included under Item 8, Financial Statements and Supplementary Data, in our 2020 Form 10-K.
Revenue by category
In the following tables, 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 June 30, 2021
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2021
Servicing fees$1,399 $— $1,399 $— $— $— $— $— $— $1,399 
Management fees— — — 504 — 504 — — — 504 
Foreign exchange trading services 83 187 270 16 — 16 — — — 286 
Securities finance61 45 106 — 3 3 — — — 109 
Software and processing fees 156 53 209 — 7 7 — — — 216 
Total fee revenue1,699 285 1,984 520 10 530 — — — 2,514 
Net interest income— 468 468 — (1)(1)— — — 467 
Total other income— — — — — — — 53 53 53 
Total revenue$1,699 $753 $2,452 $520 $9 $529 $— $53 $53 $3,034 
Six Months Ended June 30, 2021
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2021
Servicing fees$2,770 $— $2,770 $— $— $— $— $— $— $2,770 
Management fees— — — 997 — 997 — — — 997 
Foreign exchange trading services 178 425 603 29 — 29 — — — 632 
Securities finance121 80 201 — 7 7 — — — 208 
Software and processing fees 264 117 381 — 9 9 — — — 390 
Total fee revenue3,333 622 3,955 1,026 16 1,042 — — — 4,997 
Net interest income— 941 941 — (7)(7)— — — 934 
Total other income— — — — — — — 53 53 53 
Total revenue$3,333 $1,563 $4,896 $1,026 $9 $1,035 $— $53 $53 $5,984 
Three Months Ended June 30, 2020
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— — — 444 — 444 444 
Foreign exchange trading services95 217 312 13 — 13 325 
Securities finance63 25 88 — 4 4 92 
Software and processing fees151 78 229 — 16 16 245 
Total fee revenue1,581 320 1,901 457 20 477 2,378 
Net interest income— 571 571 — (12)(12)559 
Total revenue$1,581 $891 $2,472 $457 $8 $465 $2,937 
Six Months Ended June 30, 2020
Investment ServicingInvestment ManagementTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2020
Servicing fees$2,559 $— $2,559 $— $— $— $2,559 
Management fees— — — 908 — 908 908 
Foreign exchange trading services195 551 746 23 — 23 769 
Securities finance120 57 177 — 7 7 184 
Software and processing fees258 108 366 — (9)(9)357 
Total fee revenue3,132 716 3,848 931 (2)929 4,777 
Net interest income— 1,234 1,234 — (11)(11)1,223 
Total other income— 2 2 — — — 2 
Total revenue$3,132 $1,952 $5,084 $931 $(13)$918 $6,002 
Contract balances and contract costs
As of June 30, 2021 and December 31, 2020, net receivables of $2.94 billion and $2.68 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 or quarterly; 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.