Income Statement

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 2014 Y2015 Y2016 Y2017 Y
Source Document12/31/201612/31/201712/31/201712/31/2017
(in millions)    
Interest income 
Interest and fees on loans 1,7301,6861,7291,847
Interest on money market investments 21232119
Interest on securities 102124204326
Total interest income 1,8531,8331,9542,192
Interest expense 
Interest on deposits 50494959
Interest on short- and long-term borrowings 123693868
Total interest expense 17311887127
Net interest income 1,6801,7151,8672,065
Provision for loan losses (98)409324
Net interest income after provision for loan losses 1,7781,6751,7742,041
Noninterest income 
Service charges and fees on deposit accounts 168168171171
Other service charges, commissions and fees 178187208217
Wealth management and trust income 31313742
Loan sales and servicing income 29313525
Capital markets and foreign exchange 23262230
Customer-related fees NA443473485
Dividends and other investment income 44302440
Fair value and nonhedge derivative income (loss) (11,390)NANANA
Securities gains (losses), net 13(127)714
Fixed income securities gains (losses), net 10,419NANANA
Impairment losses on investment securities (27)NANANA
Less amounts recognized in other comprehensive income 0NANANA
Net impairment losses on investment securities (27)NANANA
Other 811125
Total noninterest income 493357516544
Noninterest expense 
Salaries and employee benefits 9569739831,011
Occupancy, net 116120125129
Furniture, equipment and software, net 115123125130
Other real estate expense, net (1)(1)(2)(1)
Credit-related expense 28292629
Provision for unfunded lending commitments (9)(6)(10)(7)
Professional and legal services 66505554
Advertising 25252222
FDIC premiums 32344053
Amortization of core deposit and other intangibles 11986
Debt extinguishment cost 44,422NANANA
Other 265225213223
Total noninterest expense 1,6491,5811,5851,649
Income before income taxes 621451705936
Income taxes 223142236344
Net income 398309469592
Preferred stock dividends (72)(62)(48)(40)
Preferred stock redemption 00(10)(2)
Net earnings applicable to common shareholders 327247411550
Weighted average common shares outstanding 
Basic shares 192,207203,265203,855200,776
Diluted shares 192,789203,698204,269209,653
Net earnings per common share 
Basic 1.681.22.02.71
Diluted 1.681.21.992.6
Net income 398309469592
Other comprehensive income (loss), net of tax 
Net unrealized holding losses on investment securities 82(23)(74)(2)
Reclassification of HTM securities to AFS securities 01100
Reclassification to earnings for realized net securities losses (6)8600
Reclassification to earnings for net credit-related impairment losses on investment securities 17NANANA
Accretion of securities with noncredit-related impairment losses not expected to be sold 1,111NANANA
Net unrealized gains (losses) on other noninterest-bearing investments 0(3)23
Net unrealized holding gains (losses) on derivative instruments 375(3)
Reclassification adjustment for increase in interest income recognized in earnings on derivative instruments (2)(6)(7)(2)
Pension and postretirement (13)1712
Effect of new tax rates from Tax Cuts and Jobs Act of 2017 NA00(25)
Other comprehensive income (loss) 6473(67)(17)
Comprehensive income 463382402575

Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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