XML 405 R26.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Line of Business Information
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Line of Business Information Line of Business Information
Our operations are organized into two lines of business: Investment Servicing and Investment Management, which are defined based on products and services provided. The results of operations for these lines of business are not necessarily comparable with those of other companies, including companies in the financial services industry. For information about our two lines of business, as well as revenues, expenses and capital allocation methodologies associated with them, refer to pages 177 to 179 in Note 24 to the consolidated financial statements included under Item 8, Financial Statements and Supplementary Data, in our 2023 Form 10-K.
The following tables summarize our line of business results for the periods indicated. The "Other" columns represent amounts that are not allocated to our two lines of business, including repositioning charges, employee costs, acquisition costs, revenue-related recoveries and certain legal accruals.
Three Months Ended March 31,
Investment
Servicing		Investment
Management		OtherTotal
(Dollars in millions)20242023202420232024202320242023
Servicing fees$1,228 $1,217 $— $— $— $— $1,228 $1,217 
Management fees— — 510 457 — — 510 457 
Foreign exchange trading services308 321 23 21 — — 331 342 
Securities finance90 103 6 6 — — 96 109 
Software and processing fees207 165 — — — — 207 165 
Other fee revenue43 28 7 17 — — 50 45 
Total fee revenue1,876 1,834 546 501 — — 2,422 2,335 
Net interest income711 762 5 4 — — 716 766 
Total revenue2,587 2,596 551 505 — — 3,138 3,101 
Provision for credit losses27 44 — — — — 27 44 
Total expenses1,963 1,978 420 386 130 5 2,513 2,369 
Income before income tax expense$597 $574 $131 $119 $(130)$(5)$598 $688 
Pre-tax margin23 %22 %24 %24 %19 %22 %