Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2022

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 181 to 183 in Note 25 to the consolidated financial statements included under Item 8, Financial Statements and Supplementary Data, in our 2021 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 March 31, 2022
	Investment Servicing						Investment Management						Other						Total
(Dollars in millions)	Topic 606 revenue		All other revenue		Total		Topic 606 revenue		All other revenue		Total		Topic 606 revenue		All other revenue		Total		2022
Servicing fees	$	1,368	$	—	$	1,368	$	—	$	—	$	—	$	—	$	—	$	—	$	1,368
Management fees	—		—		—		520		—		520		—		—		—		520
Foreign exchange trading services	101		241		342		17		—		17		—		—		—		359
Securities finance	54		39		93		—		3		3		—		—		—		96
Software and processing fees	151		50		201		—		—		—		—		—		—		201
Other fee revenue	—		46		46		—		(17)		(17)		—		—		—		29
Total fee revenue	1,674		376		2,050		537		(14)		523		—		—		—		2,573
Net interest income	—		509		509		—		—		—		—		—		—		509
Total other income	—		(1)		(1)		—		—		—		—		—		—		(1)
Total revenue	$	1,674	$	884	$	2,558	$	537	$	(14)	$	523	$	—	$	—	$	—	$	3,081
	Three Months Ended March 31, 2021
	Investment Servicing						Investment Management						Other						Total
(Dollars in millions)	Topic 606 revenue		All other revenue		Total		Topic 606 revenue		All other revenue		Total		Topic 606 revenue		All other revenue		Total		2021
Servicing fees	$	1,369	$	—	$	1,369	$	—	$	—	$	—	$	—	$	—	$	—	$	1,369
Management fees	—		—		—		493		—		493		—		—		—		493
Foreign exchange trading services	95		238		333		13		—		13		—		—		—		346
Securities finance	60		35		95		—		4		4		—		—		—		99
Software and processing fees	110		50		160		—		—		—		—		—		—		160
Other fee revenue	—		14		14		—		2		2		—		—		—		16
Total fee revenue	1,634		337		1,971		506		6		512		—		—		—		2,483
Net interest income	—		473		473		—		(6)		(6)		—		—		—		467
Total other income	—		—		—		—		—		—		—		—		—		—
Total revenue	$	1,634	$	810	$	2,444	$	506	$	—	$	506	$	—	$	—	$	—	$	2,950

Contract balances and contract costs

As of March 31, 2022 and December 31, 2021, net receivables of $2.90 billion and $2.76 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.