As of or the year ended December 31, (in millions, except ratios) | Consumer & Community Banking(b) | Corporate & Investment Bank | Commercial Banking | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||
Noninterest revenue | $ | 17,552 | $ | 20,813 | $ | 15,314 | $ | 23,810 | $ | 23,104 | $ | 22,523 | $ | 2,298 | $ | 2,283 | $ | 2,195 | |||||||||||
Net interest income | 28,474 | 29,071 | 30,305 | 10,415 | 11,222 | 11,461 | 4,675 | 4,542 | 4,223 | ||||||||||||||||||||
Total net revenue | 46,026 | 49,884 | 45,619 | 34,225 | 34,326 | 33,984 | 6,973 | 6,825 | 6,418 | ||||||||||||||||||||
Provision for credit losses | 335 | 3,774 | 7,620 | (232 | ) | (479 | ) | (285 | ) | 85 | 41 | 208 | |||||||||||||||||
Noninterest expense | 27,842 | 28,827 | 27,637 | 21,744 | 21,850 | 21,979 | 2,610 | 2,389 | 2,278 | ||||||||||||||||||||
Income/(loss) before income tax expense/(benefit) | 17,849 | 17,283 | 10,362 | 12,713 | 12,955 | 12,290 | 4,278 | 4,395 | 3,932 | ||||||||||||||||||||
Income tax expense/(benefit) | 7,100 | 6,732 | 4,257 | 4,167 | 4,549 | 4,297 | 1,703 | 1,749 | 1,565 | ||||||||||||||||||||
Net income/(loss) | $ | 10,749 | $ | 10,551 | $ | 6,105 | $ | 8,546 | $ | 8,406 | $ | 7,993 | $ | 2,575 | $ | 2,646 | $ | 2,367 | |||||||||||
Average common equity | $ | 46,000 | $ | 43,000 | $ | 41,000 | $ | 56,500 | $ | 47,500 | $ | 47,000 | $ | 13,500 | $ | 9,500 | $ | 8,000 | |||||||||||
Total assets | 452,929 | 467,282 | 486,697 | 843,577 | 876,107 | 845,095 | 190,782 | 181,502 | 158,040 | ||||||||||||||||||||
Return on average common equity | 23 | % | 25 | % | 15 | % | 15 | % | 18 | % | 17 | % | 19 | % | 28 | % | 30 | % | |||||||||||
Overhead ratio | 60 | 58 | 61 | 64 | 64 | 65 | 37 | 35 | 35 |
(a) | Managed basis starts with the reported U.S. GAAP results and includes certain reclassifications as discussed below that do not have any impact on net income as reported by the lines of business or by the Firm as a whole. |
(b) | The 2012 and 2011 data for certain income statement line items (predominantly net interest income, compensation and noncompensation expense) and balance sheet items were revised to reflect the transfer of certain technology and operations, as well as real estate-related functions and staff, from Corporate/Private Equity to CCB, effective January 1, 2013. |
(c) | Segment managed results reflect revenue on a FTE basis with the corresponding income tax impact recorded within income tax expense/(benefit). These adjustments are eliminated in reconciling items to arrive at the Firm’s reported U.S. GAAP results. |
Asset Management | Corporate/Private Equity(b) | Reconciling Items(c) | Total | |||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||
$ | 9,029 | $ | 7,847 | $ | 7,895 | $ | 3,093 | $ | 190 | $ | 3,621 | $ | (2,495 | ) | $ | (2,116 | ) | $ | (2,003 | ) | $ | 53,287 | $ | 52,121 | $ | 49,545 | ||||||||||||
2,291 | 2,099 | 1,648 | (1,839 | ) | (1,281 | ) | 582 | (697 | ) | (743 | ) | (530 | ) | 43,319 | 44,910 | 47,689 | ||||||||||||||||||||||
11,320 | 9,946 | 9,543 | 1,254 | (1,091 | ) | 4,203 | (3,192 | ) | (2,859 | ) | (2,533 | ) | 96,606 | 97,031 | 97,234 | |||||||||||||||||||||||
65 | 86 | 67 | (28 | ) | (37 | ) | (36 | ) | — | — | — | 225 | 3,385 | 7,574 | ||||||||||||||||||||||||
8,016 | 7,104 | 7,002 | 10,255 | 4,559 | 4,015 | — | — | — | 70,467 | 64,729 | 62,911 | |||||||||||||||||||||||||||
3,239 | 2,756 | 2,474 | (8,973 | ) | (5,613 | ) | 224 | (3,192 | ) | (2,859 | ) | (2,533 | ) | 25,914 | 28,917 | 26,749 | ||||||||||||||||||||||
1,208 | 1,053 | 882 | (2,995 | ) | (3,591 | ) | (695 | ) | (3,192 | ) | (2,859 | ) | (2,533 | ) | 7,991 | 7,633 | 7,773 | |||||||||||||||||||||
$ | 2,031 | $ | 1,703 | $ | 1,592 | $ | (5,978 | ) | $ | (2,022 | ) | $ | 919 | $ | — | $ | — | $ | — | $ | 17,923 | $ | 21,284 | $ | 18,976 | |||||||||||||
$ | 9,000 | $ | 7,000 | $ | 6,500 | $ | 71,409 | $ | 77,352 | $ | 70,766 | $ | — | $ | — | $ | — | $ | 196,409 | $ | 184,352 | $ | 173,266 | |||||||||||||||
122,414 | 108,999 | 86,242 | 805,987 | 725,251 | 689,718 | NA | NA | NA | 2,415,689 | 2,359,141 | 2,265,792 | |||||||||||||||||||||||||||
23 | % | 24 | % | 25 | % | NM | NM | NM | NM | NM | NM | 9 | % | 11 | % | 11 | % | |||||||||||||||||||||
71 | 71 | 73 | NM | NM | NM | NM | NM | NM | 73 | 67 | 65 |