Line of Business Information (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Summary of Line of Business Results

The following table is a summary of our line of business results for the periods indicated. The "Other" columns represent costs incurred that are not allocated to a specific line of business, certain employee costs, including certain severance and restructuring costs, acquisition costs and certain provisions for legal contingencies.

	Three Months Ended September 30,
	Investment Servicing						Investment Management						Other				Total
(Dollars in millions)	2021			2020			2021			2020			2021		2020		2021			2020
Servicing fees	$	1,395		$	1,301		$	—		$	—		$	—	$	—	$	1,395		$	1,301
Management fees	—			—			526			479			—		—		526			479
Foreign exchange trading services	266			252			13			18			—		—		279			270
Securities finance	103			81			3			3			—		—		106			84
Software and processing fees (1)	204			162			(6)			10			—		—		198			172
Total fee revenue	1,968			1,796			536			510			—		—		2,504			2,306
Net interest income	491			482			(4)			(4)			—		—		487			478
Total other income	(1)			—			—			—			—		—		(1)			—
Total revenue	2,458			2,278			532			506			—		—		2,990			2,784
Provision for credit losses	(2)			—			—			—			—		—		(2)			—
Total expenses	1,755			1,739			339			358			22		6		2,116			2,103
Income before income tax expense	$	705		$	539		$	193		$	148		$	(22)	$	(6)	$	876		$	681
Pre-tax margin	29		%	24		%	36		%	29		%					29		%	24		%
	Nine Months Ended September 30,
	Investment Servicing						Investment Management						Other				Total
(Dollars in millions)	2021			2020			2021			2020			2021		2020		2021			2020
Servicing fees	$	4,165		$	3,860		$	—		$	—		$	—	$	—	$	4,165		$	3,860
Management fees	—			—			1,523			1,387			—		—		1,523			1,387
Foreign exchange trading services	869			998			42			41			—		—		911			1,039
Securities finance	304			258			10			10			—		—		314			268
Software and processing fees (1)	585			528			3			1			—		—		588			529
Total fee revenue	5,923			5,644			1,578			1,439			—		—		7,501			7,083
Net interest income	1,432			1,716			(11)			(15)			—		—		1,421			1,701
Total other income	(1)			2			—			—			53		—		52			2
Total revenue	7,354			7,362			1,567			1,424			53		—		8,974			8,786
Provision for credit losses	(26)			88			—			—			—		—		(26)			88
Total expenses	5,389			5,315			1,082			1,096			88		29		6,559			6,440
Income before income tax expense	$	1,991		$	1,959		$	485		$	328		$	(35)	$	(29)	2,441			$	2,258
Pre-tax margin	27		%	27		%	31		%	23		%					27		%	26		%

(1) Investment Management includes other revenue items that are primarily driven by equity market movements.