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Consolidated Statement of Income - USD ($)
shares in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Fee revenue:    
Servicing fees $ 1,217,000,000 $ 1,368,000,000
Management fees 457,000,000 520,000,000
Foreign exchange trading services 342,000,000 359,000,000
Securities finance 109,000,000 96,000,000
Software and processing fees 165,000,000 201,000,000
Other fee revenue 45,000,000 29,000,000
Total fee revenue 2,335,000,000 2,573,000,000
Net interest income:    
Interest income 2,027,000,000 521,000,000
Interest expense 1,261,000,000 12,000,000
Net interest income 766,000,000 509,000,000
Other income:    
Gains (losses) from sales of available-for-sale securities, net 0 (1,000,000)
Total other income (loss) 0 (1,000,000)
Total revenue 3,101,000,000 3,081,000,000
Provision for credit losses 44,000,000 0
Expenses:    
Compensation and employee benefits 1,292,000,000 1,232,000,000
Information systems and communications 414,000,000 423,000,000
Transaction processing services 239,000,000 264,000,000
Occupancy 94,000,000 95,000,000
Acquisition and restructuring costs 0 9,000,000
Amortization of other intangible assets 60,000,000 61,000,000
Other 270,000,000 243,000,000
Total expenses 2,369,000,000 2,327,000,000
Income before income tax expense 688,000,000 754,000,000
Income tax expense 139,000,000 150,000,000
Net income 549,000,000 604,000,000
Net income available to common shareholders, basic 525,000,000 583,000,000
Net income available to common shareholders, diluted $ 525,000,000 $ 583,000,000
Earnings per common share:    
Basic (in USD per share) $ 1.54 $ 1.59
Diluted (in USD per share) $ 1.52 $ 1.57
Average common shares outstanding (in thousands):    
Basic (in shares) 341,106 366,542
Diluted (in shares) 345,472 372,037
Cash dividends declared (in USD per share) $ 0.63 $ 0.57