Parent-Only Statement of Income | | | | | | |
| | | | | | | | | | | |
| | | | | | Year ended December 31, |
(in millions) | | 2013 | | 2012 | | 2011 |
Income | | | | | | | |
Dividends from subsidiaries: | | | | | | |
| Bank | $ | 10,612 | | 11,767 | | 11,546 |
| Nonbank | | 33 | | 1,150 | | 140 |
Interest income from subsidiaries | | 848 | | 897 | | 914 |
Other interest income | | 240 | | 222 | | 242 |
Other income | | 484 | | 267 | | 460 |
| | Total income | | 12,217 | | 14,303 | | 13,302 |
Expense | | | | | | |
Interest expense: | | | | | | |
| Indebtedness to nonbank subsidiaries | | 334 | | 287 | | 254 |
| Short-term borrowings | | 5 | | 1 | | 1 |
| Long-term debt | | 1,546 | | 1,877 | | 2,423 |
| Other | | 15 | | 23 | | 8 |
Noninterest expense | | 1,175 | | 1,127 | | 77 |
| | Total expense | | 3,075 | | 3,315 | | 2,763 |
Income before income tax benefit and | | | | | | |
| equity in undistributed income of subsidiaries | | 9,142 | | 10,988 | | 10,539 |
Income tax benefit | | (570) | | (903) | | (584) |
Equity in undistributed income of subsidiaries | | 12,166 | | 7,006 | | 4,746 |
Net income | $ | 21,878 | | 18,897 | | 15,869 |