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Revenue from Contracts with Customers
 9 Months Ended
Sep. 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 September 30, 2021
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2021
Servicing fees$1,395 $— 1,395 $— $— $— $— $— $— $1,395 
Management fees— — — 526 — 526 — — — 526 
Foreign exchange trading services 82 184 266 13 — 13 — — — 279 
Securities finance60 43 103 — 3 3 — — — 106 
Software and processing fees 126 78 204 — (6)(6)— — — 198 
Total fee revenue1,663 305 1,968 539 (3)536 — — — 2,504 
Net interest income— 491 491 — (4)(4)— — — 487 
Total other income— (1)(1)— — — — — — (1)
Total revenue$1,663 $795 $2,458 $539 $(7)$532 $— $— $— $2,990 
Nine Months Ended September 30, 2021
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2021
Servicing fees$4,165 $— $4,165 $— $— $— $— $— $— $4,165 
Management fees— — — 1,523 — 1,523 — — — 1,523 
Foreign exchange trading services 260 609 869 42 — 42 — — — 911 
Securities finance181 123 304 — 10 10 — — — 314 
Software and processing fees 390 195 585 — 3 3 — — — 588 
Total fee revenue4,996 927 5,923 1,565 13 1,578 — — — 7,501 
Net interest income— 1,432 1,432 — (11)(11)— — — 1,421 
Total other income— (1)(1)— — — — 53 53 52 
Total revenue$4,996 $2,358 $7,354 $1,565 $2 $1,567 $— $53 $53 $8,974 
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— — — 479 — 479 479 
Foreign exchange trading services90 162 252 18 — 18 270 
Securities finance42 39 81 — 3 3 84 
Software and processing fees108 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— — — 1,387 — 1,387 1,387 
Foreign exchange trading services285 713 998 41 — 41 1,039 
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 
Contract balances and contract costs
As of September 30, 2021 and December 31, 2020, net receivables of $2.87 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.